How To Prioritize Your Debt

How to Prioritize Your Debt

            Covering your essentials and tackling financially-damaging debt Please Note: This article contains affiliate links. If you click on those links, I may receive compensation.   When it comes to managing debt, single moms have extra struggles to deal with. But we manage to overcome those hurdles and keep making strides to pay off debt and build net worth. Then 2020 happened, and for many of us our financial progress got knocked off track. According to a survey by Lending Tree, 56% of parents have gone into debt during this Covid crisis… and it’s even harder on single moms. But that doesn’t…

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Before You Sign a Loan Agreement…

Understand All of the Terms & Conditions Please Note: There are affiliate links in this post that I may or may not profit from.  If you’ve ever applied for a loan and been baffled by the papers you had to sign, you’re not alone. Those documents were created by lawyers working for big banks and lenders, and they’re stuffed with confusing, unfamiliar language – especially if you’re a first-time borrower. These contracts spell out exactly what you and your lender have agreed to, including: Your rights and responsibilitiesThe lender’s rights and responsibilities (which vary depending on the type of loan)What…

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These 5 Budgeting Myths Threaten Your Financial Security

The truth about budgets brings financial freedom Budgets are a single mom’s best financial friend – hands down. Kids are expensive, and it’s even harder to make ends meet when you’re working with one income. That’s where budgets come in to save the day. Unfortunately, just the word “budget” can turn people off. And the idea of having to deal with a budget can make an already overwhelmed single mom shut down. That’s because many people have the wrong idea about budgets, and think they’re are all about cutting expenses… sacrificing fun… and getting bogged down with time-consuming spreadsheets. The…

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Help! The Credit Card Company Lowered My Limit

What to do if your limit was lowered or your card was canceled When you’re stuck in a financial crisis situation, credit cards can give you some extra breathing room. That’s especially true if you’ve already burned through your emergency savings… slashed your budget to the bone… and done everything possible to bring in more money. Right now, millions of single moms are stuck in this impossible position. We don’t want to run up debt with so much uncertainty around, but we have to take care of our families. So we’ve been relying on credit cards more to buy the…

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