The Impact of Financial Hardship on Single Mothers
Single mothers are at high risk of financial hardship which may have negative impact on their psychological wellbeing and others.
Some of the impacts of financial hardship on single mothers include:
It’s hard to know if you’re doing a good job as a single mother, especially in a state of financial unrest.
Are my kids getting the right kind of education they deserve?
Do my kids really look up to me as their hero?
Do I really know what I am doing here?
These are some of the many questions that would be going through your mind as a single mother going through financial crisis.
What would really help you at this point would be to surround yourself with other mothers like yourself. You can get inspired by some of their pitfalls and share your experiences with them as well.
You have to remind yourself as a single mother that no one is really perfect, and boast to yourself that you are at least doing something right in making your kids happy, the best way that you can.
Don’t be ashamed to cry also, if you have to – but remember to get back up and be the best mum that you know how to be.
#2: Stress & Anxiety
Managing financial crisis as a single mother may lead you to get side-jobs to your already 9-5 job.
This will leave you really stressed out after a day of consistent work, all just to come back home to pending bills and household expenses.
This can be really difficult to deal with, especially as a single mother.
The worst part would be, having to come back home to undone house chores, dishes, etc., especially if you have kids that are teenagers.
To deal with this, first make your kids understand what is going on and educate them on how helpful they can be to you.
If you have teens as kids, get them to get a job to help cater for some household expenses – but never let your kids see your weakness, you have to remember that they are looking up to you as their hero.
It’s also important to exercise regularly to help deal with the stress, at least 4 times in a week – even if it means doing it at home, in the morning, or after bedtime.
#3: Bad decision making
This is always bound to happen.
Due to all the stress and anxiety that would be placed on you, you’re bound to make some really bad decisions; and it’s at this point that you should communicate with your kids and get the best support from them.
This will also help to create a better relationship between you and your kids as they won’t be scared to approach you when they have some tough decisions to take themselves.
#4: Losing one’s sense of worth
It’s almost easy to know when a single mother is going through financial crisis.
This is because situations like this are usually accompanied with you forgetting to take good care of yourself.
It’s important at this point to take good care of yourself – take at least one hour in a week just to do something really nice for yourself.
You could just go out for a walk to connect and make new friends; this would help you reconnect with who you were before you became a mom.
How Can Single Mothers Survive Financial Crisis?
The following are ways in which single mothers can survive financial crisis:
#1: Leverage on multiple streams of income
As stated earlier in the post, as a single mother trying to deal with financial crisis, you have to understand that you are doing this on your own, with no partner there to assist you – so why not grab a little hustle?
Don’t be scared to get your hands dirty – there are single mothers collecting scrap metals on weekends, and selling them to help pad-up their incomes.
We are not telling you to start collecting scrap metals on weekends, but in order to understand how to grab your hustle, you have to understand your skillset, talents and interests.
If you love cooking, you could offer that as a side-gig and earn some extra dollars from that.
#2: Find alternatives to childcare costs
Childcare costs can be really exorbitant, and there’s really nothing much you can do to get around them, especially if you’re working full-time.
Instead, you can find a friend and substitute between babysitting your kids in the weekends, which would give you a well-deserved break, at least twice a monthly expenses.
This’d also save you up to $100 monthly – money which could be applied to cater for other household needs.
#3: Get funding
Don’t be shy to ask for assistance when things get really tight at your end.
You can always ask for help from family and friends, even your colleagues at work.
Finally, a payday loan Las Vegas is not so far away – as a single mother, you can get up to $5,000 in funding credited to their bank accounts in less than 24 hours after approval.
We are here to assist you in finding a reliable moneylender to solve your financial troubles without much hassle. Using our experience in the field, we will provide you the required guidance to apply and get a personal payday loan in less than 24 hours.
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