Integrated Family Community Services 3370 South Irving Street, Englewood, CO 80110-1816 Ph: 303-789-0501

How to Financially Survive as a Single, Self-Employed Mother

A child may be a blessing but that does not mean the responsibilities that come with a child are always easy, especially for single mothers. You have a lot on your plate, and you are attempting to face this world as a self-sufficient woman. The following are a few financial tips to help you survive and make it on your own terms.

Be Debt-Free

One main reason money can be hard to stretch is because you have bills to pay. Find a way to reduce them, and avoid new debt, such as credit cards or even car loans. The key here is to live within your means and skip purchasing things you simply cannot afford, which should help free up some of your cash.

Set Some Aside

You are probably worried about having enough money saved for your retirement. You do not want to become a burden to your child. The best time to start thinking about this is now, and you do have a few options as a self-employed individual. A good option to consider is a simple IRA or a SEP IRA, which is basically a pension that allows you to set money aside pre-taxes.

Consider Living Arrangements

Housing is perhaps the most aggressive money-devouring bill that people have to deal with. You have to find a way to reduce this bill, and the best way to do this is to own a home as it may be cheaper than renting. The amount you end up paying for a home is relatively fixed while rent could go up at any given time. Plus, you have to consider your child and the environment that he or she might be exposed to in a large apartment complex. Consider looking at single family homes for sale in your area to reduce living expenses.

Diversify Your Money

As a single mother, you may not have much time. You should figure out how to grow your money without much input, which should lead you to investing. Yes, you can invest in the stock market, but there are other forms of investments, such as diamonds or antique vehicles that you can later sell at a higher price. You can even try your hand at the increasingly profitable cryptocurrency market. Do your research, take your time with what you decide, and remember to not place all your eggs in one basket.

Be sure to consider talking to a financial advisor or counselor. These individuals know how to manage money and can impart some financial literacy to you. Hopefully, some of these points help you survive as a single, self-employed mother.

Tim Esterdahl

Tim Esterdahl is the editor of IFCS blog. He is a married father of three and enjoys golf in his spare time.

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Each day, IFCS works to meet the needs of families in our community. We meet their needs through your support of our mission. Please consider supporting IFCS through continual giving by becoming a Compassion Partner or through one of our many other forms of giving. ... See MoreSee Less

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Integrated Family Community Services

Thank you to our partners at Aspen Grove Shopping Center. Give a gift and receive a gift - we appreciate your support!Donate gift cards from any Aspen Grove retailer today and tomorrow from noon to 4 PM and it will be given to local families in need by Integrated Family Community Services. Receive a limited-edition Aspen Grove ornament with the donation of a gift card from an Aspen Grove retailer valued at $10 or more. Non-perishable food items and hygiene products are also accepted. Drop off your donations at our Holiday Station near Gigi's Cupcakes. ... See MoreSee Less

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Who -

**Parents seeking gifts for their children age infant through 17.

Dates & Times -

** Thursday, Dec. 13, 8:30 to 11:00 and 1:00 to 3:00 for those living within western Arapahoe or Northern Douglas counties. Areas include Centennial, Englewood, Glendale, Highlands Ranch, Littleton, Lone Tree, Sheridan and unincorporated Arapahoe County.

**Friday, Dec. 14, 8:30 to 11:00 and 1:00 to 3:00 for anyone in Colorado

What’s Needed -

**Interested parents will complete a registration form in our office. The following documents are also needed - Parent ID, Child ID (birth certificate, Social Security Card, or school ID), and Proof of Address

What to Expect -

- We will not be able to honor requests for clothing or specific toys.
- We have very few items for teenagers.
- If we run out of toys, we run out of toys.
- Unfortunately, those seeking gifts can receive no other services that session.

Call 303-789-0501 for details
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Opportunity for 5 dynamic self-starters interested in learning more about nonprofit case management with IFCS. Come join our team of compassionate neighbors eager to lend a helping hand. Applicants seeking college level credit should apply. https://t.co/TKqs7QX159 #GiveBack

Today, we published our newest video showing the work we do and asking for your continued support. Please give it a watch and share with your friends!


THANK YOU! We nearly did it on @ColoradoGives day. Let's finish the job today since there is still time to help.


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