Category: Kids and Money

When you’re a single parent, it doesn’t take much to knock you into a financial crisis. Sudden job loss… flooded basement… a sick or injured child… dozens of things can make you dip into and use up your emergency savings. And those financial setbacks can leave you struggling to make ends meet. Lots of times,...

Updated for 2019 You can save more than $2,000 on your tax bill by checking one little box: Head of Household status. That’s why you and every eligible single mom should claim Head of Household (HoH) status… to keep that income tax bill as low as possible. Using this filing status can save you hundreds,...

It’s sounds drastic: Sever all of your financial ties in the divorce. After all, you were married to this person, you have kids together. And keeping some kind of connection doesn’t seem risky…but it is. No matter how good your relationship is, no matter how well you communicate, you can’t predict the future. Except for...

If your child earns income from a job – even if it’s working for you – it’s time to open a Roth IRA. Better than a regular savings account, all the money invested through a Roth IRA grows tax-free. And since your child almost certainly qualifies for the lowest possible tax rate (if income taxes...

They’re two of the hardest jobs in the world: being a mom and running your own business. For single moms, the difficulty rating gets multiplied…but with a few simple strategies, you can win at both, and teach your kids some valuable lessons along the way. For the pre-school set, childcare is key When your kids...

UPDATED FOR 2019 If, like so many single moms, you are the custodial parent of a child (under 24 years old) who’s soon heading for college, it's time to FAFSA. To get any cash for college – grants, work-study, scholarships, and federal loans – you have to fill out the FAFSA, the Free Application for...