How To Tackle Debt As A Single Mom?
Single Mom Start-Up Debt
For the first time in 10 years, I have gone into debt—a whopping ,200—to restart my life as a single mom.
- I’ve had to buy a car (,000 down payment)
- rent an apartment (,400 for the first month and security)
- buy furniture for the apartment (0 at IKEA),
- pay for the movers (0)—in cash, thankfully.
I’m trying not to look at this debt as “bad debt.” I’d planned to set up a savings account for the separation, but I never had enough cash to spare.
The next step is to have a game plan for paying down the debt. Here’s mine:
- Sell the engagement ring. I should net about ,000.
- Make a budget: To pay down the remaining ,000 this year, which is on a zero-interest card, I’d have to pay about 0 a month.
- Find extra money: On the nights when my husband has the kids, I can work overtime, and dedicate those funds to the card.
I hate being in debt again. But I didn’t have much choice. The choice I have now is to deal with it responsibly. Sigh.
Your account. If your marriage was rocky, would you set up a separate “exit fund”?
Sasha Miller is a DailyWorth contributor, writing about the financial side of starting over as a single mom of two.
Video: I'm A Single Mom With 0,000 In Debt
Facebook Group Raises Rate of HIV Testing
Broccoli and Cheddar Kugel
The 3 Emmy Awards Speeches Everyone’s Buzzing About: Watch ThemHere
Cherries and Cream Rice Pudding
A Better Measure Than Your BMI
How to Stop Making Excuses
Chronic pain Reclaim your life before its too late
How to Make Sugarless Hot Chocolate
How to Make an Audio Recording Using Quicktime Player
How to Apply Fake Eyelashes Like aPro
23 Restaurants Where Kids Eat Free
Justin Bieber’s Tour Merchandise Is Coming toBarneys
Healthier Deviled Eggs Recipe