Category: Managing Debt

You Can Stop Living Paycheck-to-Paycheck

Worrying about whether you can cover all the bills this month is one of the worst feelings a single mom can have. And knowing that you definitely can’t feels even worse. When you’re living paycheck-to-paycheck, almost anything can knock your finances off course. A bigger than expected electric bill … a smaller than expected tax...

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7 Reasons to NEVER Borrow from Your 401(k)

You’re sitting on a pile of cash… and you really need that money now. You’re struggling with debt, having a hard time making ends meet, and that 401(k) money is just sitting there, locked away for the next 20 (or 30 or 40) years. At first glance, it makes sense to tap into that stash...

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7 Things You NEED to Know about Debt and Divorce

Divorce and debt are hard enough to deal with separately, and when they come together, it can be like navigating a minefield. The most important thing you can do about this is to protect yourself in every way you can. And the first step toward that is knowing exactly what you're up against when it...

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How to Escape the Single Mom Student Loan Debt Trap

As single moms, we face the highest student loan burdens. Our loans are bigger…our salaries are lower…our monthly budgets are tighter. According to Deeper in Debt by the American Academy of University Women, student loan debt has become a women’s issue as more of us go to college. And it’s an especially tricky situation for single...

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4 Ways to Ease Your Monthly Student Loan Burden

If your student loan payment is squeezing your budget too hard, change it. On average, monthly student loan payments run about $350 a month – and that’s an expense many single moms really can’t afford on top of childcare costs and regular monthly bills. Unfortunately, many single moms just stop making payments, not realizing the...

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4 Reasons to Keep Making Student Loan Payments…and What to Do If You Can’t

Pay student loan debt or utility bill? Too many single moms are stuck in the position where they have to decide whether to keep up with student loan payments or pay their household expenses…and something has to give. For many single moms, it just seems easier to stop making student loan payments…but that can lead...

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