Being a single parent sometimes feels difficult because your sons and daughters just rely on you in financial terms. Meanwhile, the worst scenario (losing a job or being sick so it can not work) is something that is not expected. Therefore, good financial preparation and planning are required in order for a single parent to manage its financial condition.
Here are some ways that single parents can manage their finances. Visit http://www.rocketwealth.net to get help in managing your finances.
First, prioritize health insurance. People sometimes complain about the amount of money that must be spent on insurance. However, if you have to face unexpected medical action, of course, the cost you have to spend more than the insurance premium you have to pay.
Second, you must have a reserve fund or so-called emergency fund. This is usually very difficult, especially if you are the only financial source for the family.
Third, discipline with your financial plan and teach your sons and daughters to discipline as well. By staying disciplined in the financial plan aka budget, at the same time you also participate educate your sons and daughters.