Learn how to Protect Your Health and Wealth with the Right Insurance Policy.

Even though we are in the midst of the worst economic crisis since the depression, life must go on. Balling out of control, making it rain, and days of splurging are a thing of the past – for now, and budgeting is a reality. With uncertain job security and your stock portfolio heading south faster than birds flying to Miami for the winter, it is wise to watch your bottom line.

“I remember the most important thing for me was if I can buy another $1,000 dollar Gucci bag to go with the collection of seven that I already have,” states Gina, a real estate agent from Atlanta. “Now I make sure I have enough to pay my mortgage and put money aside for any unexpected emergencies.”

Like Gina, many twenty and thirty something female professionals that was used to $100 spa treatments and $50 a plate lunch dates are tightening their belts while trying to enjoy the pleasures of life for less. This has created a new word to the lexicon – Recessionistas – “A person who is able to stick to a tight budget while still managing to dress and live stylishly.”

In today’s economy in which money is tight, you have to be creative with your budget. Here are some tips on living good for less:

Go to more free places like parks, museums, and libraries – Often overlooked during a good economy, these locations are free and you will be able to learn something while you are there.

Shop at outlets and buy in the off season – What used to be a fashion no no is now the true badge of honor for a recessionista. Every major designer has an outlet store in which they send their off season or overstocked clothes. You can buy clothing from your favorite designer for up to 80% off retail.

Before the off season clothes make it to the outlets, you can catch them at the clearance sales when the major department store makes room for the spring line and they have to get rid of the winter line, etc. Clearance sales can save you up to 70%, you just have to be patient and wait to buy that new blouse three months later than usual.

Use travel sites – Every recessionista still needs a vacation, especially when she is working more hours and making less. Log on to travel sites like Expedia, Orbitz, and Travelocity to take advantage of the deep discounts in hotel, air fare, and rental cars. They have negotiated rates with all of the air carriers and hotel chains to buy in bulk so they are able to pass the savings on to you, the consumer.

“This economy has showed me to place an importance on having fun with family and friends, and not to put so much on the material things.” Says Tahlia, a model from New York City.

Go out and enjoy life, you still deserve it.

Financial Editor Carl Agard is a Real Estate Broker and Author of three books on real estate www.carlagard.com

Image Courtesy of Mercedes-Benz

It may sound crazy for some but now is the best time to buy a home.  With the price of real estate plummeting and the rise in the number of foreclosed homes, the cost of a house is to point where the average Joe can actually pay his mortgage and still have money left over to go food shopping. Also, interest rates are still historically low at about 5.25% meaning it is still cheap to borrow money.

Many potential buyers are still scared to jump into the market, so President Barack Obama and the Federal Government created the American Recovery Act in 2009 to give incentives to individuals and families to purchase their first home.

The major part of the American Recovery Act is a first time homeowner tax credit that was extended into 2010 and unlike other previous tax credits; it doesn’t have to be repaid. Some details of the tax credit include:

-    First time homebuyer tax credit for $8,000 and $6,500 for repeat homebuyers. Anyone seeking to take advantage of the tax credits has to be in contract on the purchase of a home by April 30th and close by the end of June, so move fast!!

-    Buyers can claim the credit on their federal tax returns to reduce their tax liability, get a refund, or lower the amount of taxes owed.

-    The income limit for single taxpayer is $125,000; the limit for married taxpayers is $225,000. The home has to be used as the primary residence to qualify and must be equal to or less than $800,000.

FHA approved lenders, for first time homeowners, will allow you to use the credit towards your down payment now without you having to wait to next year to get the credit back in your taxes. So if you are in contract to purchase a home for $200,000 with an FHA loan, you have to put 3.5% down or $7,000. By using the tax credit, you can buy the home with no money down and walk away with $1,000!

“I feel that everyone should take advantage of the tax credit and the low prices in real estate and interest rates before they are gone,” states Elaine Stroman, a loan consultant from New York City. “You do not want to look back five years from now with regrets.”

Take the first step and get qualified by a mortgage professional, find a dream home to purchase and use the tax credit before you lose it. You are a tax paying citizen, why not?

By Carl Agard
Financial Editor Carl Agard is a Real Estate Broker and Author of three books on real estate www.carlagard.com


There’s no doubt that the financial crunch in America is effecting us all. Cut a little here, spending less there and trying to find true money saving bargains for your buck. If you style want to have a since of fashion and maintaining you bank account, I recommend these sites. Endless.com, giltgroupe.com, and manhattanvintage.com, and overstock.com are my favorites.

Overstock.com

Why: The $2.95 cost for shipping no matter what you buy. This is a steal. It’s not FREE but it sure is close. This is perfect for Men wanting to purchase items for the home, wardrobe and/or the family. This site is very user-friendly.

www.overstock.com | www.twitter.com/overstock

Endless.com

Why: FREE Overnight Shipping (24 hours – 365 days a year), FREE Retutn Shipping, and 100% Price Guarantee. They also specialize in hard to find shoe sizes. They cater to men, women and children. They also carry bags and accessories.

www.endless.com

www.twitter.com/endless_com

Manhattan Vintage

Why: No woman wants to be seen with the same outfit as another woman at any event. Vintage is always a good way to go if you know where to fit it. Manhattan Vintage in NYC is one of the best vintage spots in the U.S.A. These hard to find pieces are classic and most are one-of-a-kind. Make sure you signup for their mailing list.

There’s generally a cost for admission around $20. If you signup for mailing list, you will save $5.00. They have special events at certain times a year so make sure you are prepared when they email you notification about their next upcoming event. Manhattan Vintage will be your new BFF.

www.manhattanvintage.com

www.twitter.com/VintageThreadz

Upcoming Shows

Gilt Groupe

Why: High fashion at very low prices up to 70% off. The catch? You must be a member. Sign up for exclusive membership here. Once you signup, they will give you $25 per friend who signs up for a FREE membership. They provide clothing and accessories for women, men and children.

www.gilt.com

www.twitter.com/GILT_GROUPE

Merging Marriage and Credit

The wedding season is upon us and thousands of newlyweds will be tying the knot this summer. Starting a new family brings new responsibility. In this economy with such an emphasis on credit, whether buying your first home or buying another car, it is important to understand the dos and don’ts of your credit before you say “I do.”

There are many common myths about what happens to each spouses’ credit when you get married. Fortunately, many are not true.

• My spouse’s poor credit will affect my score – This is a very common concern among new couples. Many couples have at least one or both spouses with bad credit. However when you get married, your spouse’s poor credit does not affect your score or profile. Only when you open up joint accounts is when the negative reporting may impact your application, especially if you are buying a home together. A spouse’s negative credit history may lead to a denial or higher interest rate.
• When I change my last name, my credit history is erased – There is a common myth that a wife will get a new profile under their married name, and all information under the maiden name will be lost or removed. When you change your last name after your married, and I’m only talking to the ladies, the change will be updated on your credit profile as an alias. All other information previously reported will remain the same.
• I must become a joint user on my spouse’s account – You do not become a joint user automatically when you get married. The accounts that you have before, such as credit card accounts and car loans, will still be on that respective spouse’s credit history. You must add the spouse as an authorized user on the credit card accounts so they can have access as well. After that, the accounts will be reported on the other spouse’s credit report in the future. To add a spouse onto a loan like a mortgage or car loan will require refinancing.

Now that you know the facts and myths about uniting your credit, here are some tips to boost both of your scores.

• Order updated credit reports – Get a credit report from annualcreditreport.com or freecreditreport.com for each spouse. Evaluate any negative trade lines that need to be paid off or disputed. Improving each spouse’s credit score can save thousands in the long run. A high credit score can get you a low interest rate on a mortgage for a home, a car loan, and credit cards. You can also get a lower insurance quote for car and homeowner’s insurance with a high credit score of 700 or better.
• Learn how to budget – Now that you have two salaries as opposed to one, you will also have more debt. A bigger house, another car, and even furniture will increase your bills monthly. Let’s not forget the expenses from your beautiful wedding!! Create an income and expense sheet in which you write down how much money is coming in each week, and how much is going out. Writing down and evaluating your expenses will help you to cut down on unnecessary things and help you to put aside some saving for things in the future like kids!!

Talking about credit, finances, and budgeting is not the most exciting things for newlyweds, but they are the most common causes of marriage breakups. Get your finances in order from day one will keep you happy and prosperous for the long run.

By Carl Agard

Internet Radio Host Carl Agard is an author of four books on wealth building and finances. His latest book Getting the Real out of Improving your Credit is available now. www.carlagard.com

There’s no doubt about it. This past year has been and continues to be a financial challenge for many of us. Being faced with job loss or downsizing, mounting medical bills, increasing credit card debt and a host of other circumstances have led to some filing for bankruptcy. If you or someone you know has lost a home during this time, you may then start thinking of the possibility (or the lack thereof) of purchasing a home after bankruptcy. The answer is YES ! There are many mortgage companies and online lenders out there who offer home loans for even those who have bankruptcy on their credit reports.

The process is not easy, as you will have to rebuild your credit once your bankruptcy is discharged. You can do this by opening a credit card account to which you will have to make regular on time payments. Another alternative is to save for a considerable down payment in cash because the larger the cash reserve is, the better the rates you will receive. Read your credit report with a fine tooth comb for accuracy and to make sure that all accounts linked with your bankruptcy are closed.

Make sure that the payment history information is accurate, as the difference in one late payment can greatly increase your interest rates by a percent or more. Once you improve your credit score through the repayment of the home loan, you may be able to take out an equity loan on the home to consolidate any other debt you’ve accumulated since your bankruptcy or to use the extra cash on a business venture.

Before you a start looking for the right home loan, take a real look at your budget. Decide how much you can afford as a loan, how much you can make as a down payment, and the monthly payments you can meet sufficiently. With this information, you can decide on a loan amount to apply for, and the type of financing to opt for. If you are able to, this is the best time to purchase a home. The federal government is offering an up to $8,000 first time homebuyer tax credit. As long as you occupy the home for three years, the money does not have to be repaid. There is currently a bill in the Senate that would increase the tax credit to $15,000…talk about incentive, but I digress.

If you intend to live in your future home for more than seven years, it is better to find a 30 year fixed rate mortgage. Just pay it off as if it’s a 15 year mortgage, as it saves money. To get an idea of the type of loan to get, you could use a mortgage calculator for estimations. Once you have an idea of the type of loan you need, you should start investigating the various financing companies. Lenders have little to loss when approving home loans after bankruptcy as the lender feels confident when your home serves as collateral for the loan. There are some lenders who need a certain amount of time to pass before approving for the loan. However, there are also lenders who will approve your loan even a day after the bankruptcy has been discharged.

Request free quotes and then investigate their rates. To get these quotes, you need only to furnish basic information, with no need of showing your credit card. This way your credit score is not effected. Once you get all the quotes, compare the APR for the real cost of the loan. Looking only at the interest rates can be rather misleading.

Ask about any fees related to the loan as if you plan on refinancing your home. You may have to pay thousands in fees. However, these fees can be negotiated. In closing, remember to do yourself due diligence and don’t fret. Your government wants you to be a homeowner, so don’t let a few setbacks keep you from achieving your goals.

By Golda Smith

Golda is a single mom of two children. She is the CEO of The Smith Group, a real estate investment company that acquires properties in emerging markets. If you have questions for this mogul mom email her at golda@obviousmag.com

Are You There Yet?

Can you believe that summer is already upon us? Time for sunscreen, swimsuits and pool side margaritas. But wait, let’s have a quick reflection of the months gone by. Do you remember those promises that you made way back in January? Well, do you? Did you pinky swear that you would get out of debt, stop smoking, or fit into those skinny jeans? Shoulda, woulda, coulda…If you are like me, then you don’t bother with resolutions.

However, for the sake of others who shall remain nameless, now may be time for a reinvention! According to Merrian-Webster, to reinvent means to remake or make over. Such a simple definition. However, if you are struggling with change then what is holding you back from arriving at your destination? If for some reason you have not met or have fallen short of some goal… don’t worry. Decide today that you will make a radical change for the better. Here are a few steps to a better you:

•Study a course on goals. Notice I said study, not just read. The difference is when we read, we only retain about 10% or less. When we study something we retain much more because we engage our minds on a much deeper level. Setting goals will allow you to achieve more, improve performance, increase motivation, and increase self-confidence. Make sure your goals are written, dated, realistic, and measureable. For example: I will pay off my primary credit card by September, 2009. Set goals for the big 7: spiritual, financial, family, career, mental, physical, and social. One course that I highly recommend is called GOALS: How to Set Them, How to Reach Them -by Zig Ziglar. I warn you that goal setting is time consuming in the beginning but well worth it and remember…you will go where you are aimed!

•Get a mentor. Every successful person that I have ever met said they had a mentor. Don’t reinvent the wheel; find someone who has already traveled the road that you’re on and copy what they did to achieve their success. Your mentor is not your friend ! Their role is to push you beyond your comfort zone, so if you are not coachable then don’t waste your time or theirs. Where do you find a mentor? They’re all around you. You find them in books (check out any self-help section in a bookstore), the workplace (many big companies have mentor programs), attend a seminar on whatever aspect of life you are working on. Whatever you want in life, there is someone who has been there done that, so learn from them.

•Give. An amazing thing happens when we open our hearts to others without the expectation of reciprocity. We suddenly find that life is not as tragic as it sometimes seems, and desirable situations present themselves. Opportunities appear where they seemed impossible to conceive before. Whatever your spiritual belief is there is one simple truth…when you give, you will receive. Whenever you find yourself feeling sorry for yourself, get up and do something nice for someone. Do you have a talent for organizing? Surprise your single parent friend by organizing a closet, and do a great job ! It might turn into something bigger, when you do a great job, people remember and they recommend you to others. But remember, whatever you feel inspired to do, make sure it is from the heart. Make a goal (re-read #1) to be charitable and make it a priority. It may not be easy. Most things worthwhile are not but this is your life, and you can design it anyway you want. The question is how colorful can you see?

In conclusion, you owe it to yourself to be the best that you can be. With written goals, the guidance of a mentor and the consistent and earnest giving of yourself you can reach amazing heights. When you finally arrive at your destination you will find that the journey is not over. Keep paving your path and let me know how it’s going.

by Golda Smith

Golda is a single mom of two children. She is the CEO of The Smith Group, a real estate investment company that acquires properties in emerging markets. If you have questions for this mogul mom email her at golda@obviousmag.com

Understanding Your Credit Score

The first thing you need to know about your credit score is that you don’t have one credit score: you have many, and they change all the time.

Credit scores are designed to be a snapshot of your credit picture- typically, the picture that’s contained in your credit report. New information is constantly being added to your report, and old information is being deleted. Those changes affect your score.

Because of this, maintaining your credit can sometimes seem be hard work. If you have a bad score now, you’re not stuck with it forever. You can do a lot to improve your situation and make yourself more credit-worthy in lender’s eyes. When you have a good score, you need to constantly monitor your credit to make sure it stays that way. There are five parts to the FICO Credit Scoring System:

Your payment history(about 35% of a FICO score)

Have you paid your credit accounts on time? Late payments, bankruptcies and other negative items can hurt your credit score. But a rock solid record of on-time payments helps your score.

How much you owe(about 30% of a FICO score)

FICO scores look at the amounts you owe on all your accounts, the number of accounts with balances, and how much of your available credit you are using. The more you owe compared to your credit limit, the lower your score will be.

Length of credit history (about15% of a FICO score)

A longer credit history will increase your score. However, you can get a high score with a short credit history if the rest of your credit report shows responsible credit management.

New credit (about 10% of a FICO score)

If you have recently applied for or opened new credit accounts, your credit score will weigh this fact against the rest of your credit history. FICO scores distinguish between a search for a single loan and a search for many new credit lines, in part by the length of time over which inquiries occur. If you need a loan, do your rate shopping within a focused period of time, such as 30 days, to avoid lowering your FICO score.

Other factors (about 10% of a FICO score)

Several minor factors can also influence your score. For example, having a mix of credit types on your credit report – credit cards, installment loans such as a mortgage or loan, and personal lines of credit – is normal for people with longer credit histories and can add slightly to their scores.

FICO scores range from 300-850, and most people score in the 600’s and 700’s (higher FICO scores are better). Lenders buy your FICO score from three national credit reporting agencies (also called credit bureaus): Equifax, Experian and Trans Union. In the eyes of most lenders, FICO credit scores above 700 are very good and a sign of good financial health. FICO scores below 600 indicate high risk to lenders and could lead lenders to charge you much higher rates or turn down your credit application. The FICO score has different names at the three major credit bureaus.

Repairing your Credit

Anyone who has errors or negative information on their credit report can repair their own credit! However, you will need to be persistent and determined to make true progress! This process takes patience as working with the credit bureaus can be frustrating. The steps to repair your own credit are as follows:

1. Get your credit report
2. Review and list all negative items found on your report
3. Gather your documentation
4. Write dispute letters
5. Mail letters to credit bureaus
6. Document everything you do
7. Wait for response from Credit Bureaus
8. Review the results of your efforts
9. Repeat the process as needed

Step One: To begin this process you will need to get a copy of your credit report from each of the three major credit-reporting agencies.

Experian
www.experian.com

Equifax
www.equifax.com

TransUnion
www.transunion.com

Step Two: Once you get your report(s) you will need to analyze the information. Look for all negative listings. Negative listings include the following: Bankruptcy, Foreclosure, Repossession, Charge Off, Court Judgments, Collections, Past due payments, Late Payments. When looking for these listings keep in mind anything else that might not look good. Imagine you are a lender reviewing this report to consider for a loan. What else do you see that might be construed as negative?

Step Three: The step is to gather all the documentation you have regarding each item you plan to dispute. For example on a late payment, get your cancelled checks from the bank and see when the check cleared. Was it late? If not you have proof you are now going to include with your dispute. If it was late don’t worry you can still dispute

Step Four: Step four of this process is to write your dispute letters. You will need to write a letter to each credit bureau separately and include all the items you are disputing with that bureau.

Note -For each letter include the following information:

• Date
• Your Full Name
• Your Social Security Number
• Date Of Birth
• Your Current Address and Phone Number
• Your Signature
• Full Name of Items you are Disputing
• Account Numbers for the Items you are Disputing
• Reasons for the Dispute of Each Item
• Copies of Any Documentation Supporting Your Disputes

Step Five: Once you write your dispute letters you will need to mail them to the corresponding credit bureaus. Use the addresses from step # 1 to contact the three major credit-reporting bureaus.

Make sure you mail each one certified mail so you have proof you sent these disputes.
Note – Make sure you make copies of everything you send to them.

Step Six: Keep records of everything you do. Every phone call you make get names, phone numbers, extensions, date, and time.

REMEMBER keep copies of everything. You will be very happy to have this information when you start getting the run around!

Step Seven: Step seven of this process is to wait for a response from the credit bureaus. They have 30 days by law to respond to you. If you don’t here from them within this time send a second notice to find out what is going on.

Remember you have proof you mailed the dispute letter because you sent it certified.

Step Eight: Once you do get a response, compare it to your requests. If a change was made to your credit report the bureau will include an updated copy of your credit report. Is the change to your satisfaction? Did you get what you asked for? Or was nothing changed? If you got everything you asked for, great you’re done! If not, move on to step nine.

Step Nine: If you didn’t get everything you asked for challenge the verification, the credit reporting agency will likely state that your request was investigated and verified.

The credit reporting agency will have never contacted the original creditor, but will have relied on a third party database to verify, which they may or may not admit to you.

Contact the credit reporting agency by registered mail and tell them the original creditor has no records therefore your account should be deleted. Though you may be trustworthy the credit reporting agency will need to see the letter from the original creditor.

If the credit-reporting agency refuses, inform them you will sue for willful non-compliance under section FCRA § 616. Send the information via certified mail along with intent to sue letter. If not, they will give you a new confirmation number (write it down and the date). This acts as a new investigation, and the credit reporting agency has 30 days to get back to you.

Carl Agard is an author of four books on wealth building and financial literacy. He is also the host of the popular internet radio show www.realmoneyrealissuesradio.com. You can order his books at www.carlagard.com and www.amazon.com

Emphasis on retirement, 401K variations, & financial planning for current economic times

Chances are you know someone who has personally been affected by the current economic climate. Either the loss of a job and /or a 30%-40% decline in their retirement account. That someone may be you, how have you been handling the stress? Studies show that men have a tougher time handling the pressure mainly because they tend to tie their identity to their position and ability to care for themselves and family. Although we still have some tough times ahead, I encourage you not to let this moment in time to discourage you from investing in your future.

If you have recently left a job, whether by choice or not, please don’t leave your 401k behind. When you leave your job for any reason, you usually have four choices regarding the retirement savings you hold in connection to that job:

Do nothing: Many employers will allow you to maintain your account after you leave, depending on your plan’s rules. Minimum distributions must begin after you reach age 70 ½. You’ll continue to enjoy compounding tax-deferred earnings and receive regular financial account statements and performance reports. Although you will no longer be allowed to contribute to the plan, you will still have control over how your money is invested among the plan’s investment options. You can continue to manage the investments within the account without any change or interruption. You cannot make additional contributions, however.

Transfer to a new plan: If you’re changing jobs and your new employer offers a retirement plan, you may be able to move your assets into the new plan.

Withdraw your assets as cash: You can choose to have your money paid to you in one lump sum, or in installments of a fixed amount or over a set number of years, depending on your plan’s provisions. However, you may have to pay taxes on a cash distribution and, if you’re under age 55 at the time when you leave your job; you may also have to pay a 10% penalty for early withdrawal.

Roll over your assets to a Rollover IRA: A Rollover IRA is a type of retirement account into which you can transfer assets from an employer-sponsored retirement plan after you leave your job. Banks, insurance companies, and financial services firms offer Rollover IRAs. They come in two varieties:

If you have a traditional IRA you can you can convert to a Roth IRA. You will pay taxes on the money now but then your money will grow tax free until you are ready to start withdrawing at 591/2. Would you rather pay taxes on a little bit of money or a large sum of money?

If you are self employed then consider a Solo 401k. Solo 401(k)s are designed to give sole proprietors (and their spouses) and some types of business partnerships the double contribution benefit of traditional 401(k)s. Solo 401(k)s offer higher annual contribution limits (relative to the participant’s income) than other small company plans, such as SEP and SIMPLE IRAs, and also permit after-tax Roth-style contributions.

If you are still not satisfied with the return you are receiving on your investments or just want more control over what you can invest in then consider a self directed IRA. Are you aware that you can use self-directed IRA’s to invest in real estate? This can be a great option for people who want an alternative to the stock market. You can invest in real estate but not be a landlord. If you’d like more information on this alternative check out

www.theentrustgroup.com or www.trustetc.com

If retirement is light years away, there are other costs to consider…student loans, mortgage, insurance (health, disability, life, etc.), credit cards, car loans, and whatever else you have financed. Now is not the time to take on additional debt. How have you adjusted your financial plan to reflect your current lifestyle? Are you planning for success or failure? Write your plan down, review it often and make changes as necessary.

Golda is a single mom of two children. She works with Primerica Financial Services and enjoys helping people get their financial houses in order. She loves saving money and investing in real estate. If you have questions for this mogul mom email her at: golda@obviousmag.com

Money Saving Ideas for Single Mothers

Let me make a disclaimer. What follows is a brief glimpse into my life. This is my perspective and while I realize that my plan may not appeal to most people, I love what it is doing for my family.

Single mothers have a unique set of financial challenges. We are the primary caretakers for our children. If we are blessed to have our parents with us, many of us have an unspoken fear that we will shoulder some responsibility for their care as they grow older.

B.C. (Before Children) I was a social butterfly. Foot loose and fancy free. I was at just about every event and smiling with everyone in attendance. Then it happened. You know ladies…you meet HIM. You start your journey together and then one day the journey ends. When my journey ended, I had been unemployed for about three years. I had to build systems that would ensure my children and I were taken care of. I’d like to share a few things that work for me.

“It takes a village to raise a child” is more than a cliche’ just because it sounds good. A few girlfriends and I started a child care coop. The purpose of the coop was to provide free childcare to members in our group. Each mother was asked to commit a couple of hours on their selected day. By doing this, I saved about $200 a month. If you are living in an area where you don’t know anyone, get out of your comfort zone and connect with people. Who’s in your village ?

Another concept that I take full advantage of is coupons. I’m not talking about clipping coupons from the Sunday paper, I’ve done that and I only use about 2% of those coupons. When I was pregnant with my first child, I discovered a line a frozen pizzas that I fell in love with. I would eat at least one pie a week. This diet got a little pricey at about $6 a pie so I sent an email to the company asking for a few coupons. Guess what? I got about $30 worth of coupons many of them for free products. I thought if it worked for one company what not others. I looked in my pantry and started emailing companies of products that I regularly use and asked them to send me coupons and they also obliged. Now, I send out emails every 6 months.

Now that I have coupons that I actually use, I pre-plan my meals. This cuts down on shopping time, and almost eliminates the compulsive purchases. By pre-planning our meals, I can spend more time with the two people who matter most to me. I challenge you to plan a month of meals, and involve your children. We have theme nights. For example, Monday is pizza night (it used to be Friday but the kids voted for a change). The point is to make it fun, inclusive, and stress free ! Here’s another way I save money. I share membership to Costco with another single mom. We share the cost of some items, such as toilet paper. (Really…. how many rolls does one house need ?)

Having trouble paying your mortgage or rent ? Check out www.coabode.com. One of my best friends introduced me to this site and although I’ve never used it, I think the idea is great ! Co-Abode offers a unique matchmaking service that provides single moms the opportunity to share housing, pool resources and finances with another single mom of their own choosing. Not only can you save money on your shelter, but you can develop a great friendship as well.

You can save money for your goals, whatever they be, if you’re willing to forego the five-bedroom house for a more modest three-bedroom older home or apartment, and if you cut your food bill by cooking at home, and buying generic brands. If a single mom can do this, you can too.

By Golda Smith