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Creating and following a budget is hard for most people. But it can be particularly challenging for single parents. Between housing, groceries, childcare, transportation, and all the unexpected costs that come with raising kids, there may not be much room for error.
Plus, the burnout you experience from solo parenting might lead to bad financial decisions and neglected money management.
But a realistic budget can help you make the most of your income, prepare for surprise expenses, and make steady progress toward your financial goals. As a financial educator and former NFCC-certified credit counselor, these are my tips for managing your budget as a single parent.
The starting point for creating a budget is to pinpoint your monthly income and total monthly expenses. It's normal for both of these figures to vary, so I recommend looking for your monthly averages. If your income varies by a lot, use the most conservative figure you expect to earn.

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