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10 Effective Money-Saving Tips for Single Moms

Effective Money Saving Tips for Single Moms Updated on December 2022)

We have 1440 minutes in a day. That is 864,000 seconds each day.

As single moms, we’ve never got enough time to balance everything.
Indeed, we try to balance our child-rearing, finances, career, and our own self-being. We need to juggle these well while staying sane, or else everything will fall apart.

I would be lying if I said that being a single mom is a walk in the park. Being a mom is a job worth saluting too. And being a single mom needs more tricks under the sleeves, especially financial hacks.

This article will discover financial tips to save money, even through simple things.

How to Save Money as Single Moms

Creating a single mom budget is quite tricky if you don’t know how to prioritize. Check out these money saving tips for moms and see how this help. 

Enlist family help.

Finding a “Yaya” is not simple; you have to pay the monthly fee. Before you look for a “Yaya,” why not ask your family for help first? Grandparents usually adore their grandchildren.

If possible, and your parents or siblings are willing, they can take care of your kids while you are at work. Being alone as a parent is never easy and will never be. It would help if you had people you could trust to look after your kids. However, never forget to show your appreciation by giving your share on the bills, bringing home pasalubong, and saying, “Thank you.”

Teach your kids that fun doesn’t have to be expensive.

Going to malls usually means eating in fast food or restaurants. Then imagine if you go past the Toy Kingdom or Toys R Us. It’s a financial disaster if you don’t plan to spend much on family bonding.

Why not take your kids to park such as the Quezon City Memorial Park, La Mesa Watershed, or the Ninoy Aquino Parks and Wildlife Center? Bring your lunch and snacks for a picnic, and you will be surprised how your kids will love it.

There are many slides and swings where children can spend the day. Rent a bike, and enjoy the shades of the trees and scenic views at the heart of the metro.

Stick to your shopping list.

mom-and-son-cooking | 10 Effective Money-Saving Tips for Single Moms
List your menu for a week or two. This way, you can plan your grocery list more efficiently. Follow your list and buy only what’s in it. It is also best to buy in bulk rather than “tingi-tingi” to save more cash. 

It is hard to stick to your shopping list most of the time if you bring along your kids. Most kids tend to see things they want and ask you to buy them. It is also heartbreaking to say “no.” And sometimes, this leads to tantrums you don’t want strangers to see.

If you are not planning to buy a treat for your children, it is best to leave them at home with a trusted adult.

Create a single mom budget plan.

Not an exciting suggestion? Of course, if you want to save up money, you need to track your expenses, no matter how tedious it is at first. You might get surprised by your spending behavior.

Refer to receipts and bills. List down all of your expenditures. You may use a spreadsheet such as Microsoft Excel, but personally, I still like using the good old-fashioned pen and paper.

Take the pen and paper wherever you go and whisk it out every time you spend on something. You may also do this with your smartphone. It depends on your preferences.

After creating the list of expenses, you can easily compare it to your income. Separate the items you listed into two different lists, the needs and wants. Then you can easily see where to cut your expenses. Prioritize the basic needs and savings, but never forget to treat yourself with little stuff, such as a foot spa once a month.

You can control your spending with self-discipline but do not deprive yourself of some fun.

Teach your kids to save.

Start by making your kids know the reality of your financial situation. Every one of us wants to give everything our children want. This is when you have to practice holding back. Splurging your kids is not the only way to make them feel loved.

Teaching them how to save up is a skill they can take until they grow up. Of course, teaching them about money-saving has to be age-appropriate. Start with piggy banks. My one-year-old daughter has a green piggy bank, which she “feeds” each day. Every time she finds a coin, she goes straight to the coin bank.

Open a savings account for your kids.

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This had never crossed my mind until a close friend suggested it. As single moms, we worry much about our kids’ future. Saving up part of your salary for them is best put in banks because they are secured, have an interest, and even give various benefits.

Before you open a bank account, check which one offers the best benefits for you. Some banks offer free education trust benefits, while others give insurance benefits. Note that some banks only offer savings accounts for kids at least seven (7) years old, while others can open an account for babies.

Do you think you’ll need more money for this? Most banks require P500 for you to open a bank account for your child. Once you have opened your child’s savings account, you can save any monthly amount. Around P500 a month is a good start.

Personally, I think this is hitting two birds with one stone. I get to save money for my daughter in a secure place, and now I have insurance benefits.

Register your child as your dependent.

Seeing your tax on your payslip is never fun. As a parent, you can claim tax deductions or exemptions. If you haven’t done it yet, make sure to register your kids as your dependents.

In 2016, I went to BIR to register my daughter as my dependent, but the BIR office staff told me that my company could do it online. Before you head down to your RDO, ask your HR if they can do it for you to save yourself from the hassle.

Also, do not forget to include your kids in your PhilHealth too. We all know how health care can be expensive. You can save up if your child is registered as your dependent. You can do this online or personally in PhilHealth satellite offices in malls.

Pay your bills on time.

asian-mom-and-daughter-on-laptop | 10 Effective Money-Saving Tips for Single Moms
Got credit cards? Have bills to pay? Make sure that you pay them on time to avoid penalty charges. Take care of your credit report, as it may be the key to lower interest rates if you get a home or car loan. The credit report is your history of past credits or loans, including your credit cards.

Never take your water and electric bills lightly. Please keep track of their due dates to avoid late payment fees. If you’ve got a savings account, you can enroll your utility bills online so your bank can pay your bills for you.

Consider a sideline job.

Being a single parent, the finances are all on your shoulders alone. You can set up an online shop, a small sari-sari store, or an online teaching job. You can sell sandwiches, Leche flans, salads, or snacks in an office. My co-worker, who is also a single mom, had put up a box full of various snacks in the office’s corner. And as I see it, it is doing well. She said it gives her extra money for her children’s needs.

And as I see it, it is doing well. She said it gives her more money for her kids’ needs. You see, a micro-business can indeed help pay the bills.

Consider your skills and time management abilities to know which sideline can best fit you. This solution is not a “one-size-fits-all.” What works for another single mom might not work for you. Having multiple income sources will help you save and secure your future finances.

Join a support group.

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Sounds out of place for a list of money-saving tips? Handling finances alone as a single mom can be very stressful, and you will need constant encouragement from those who understand what you are going through. There are a couple of moms’ groups and financial literacy pages on social media.

These groups post many other tips about money matters, from a simple home remedy to knowing which investments can suit you best. The good part is they give these money saving tips from their own experiences.

There are times when saving up seems too hard. Isn’t it just easy to give up? But reading the experiences of other single moms and how they can boost your morale and renew your determination.


There are more money-saving tips that we learn along the way. Sometimes we learn from our own experience, and sometimes we learn from other single moms we are getting close to.

It is no secret that our lives as a single parent are not easy. We have to work to earn money, balance the income for everyone’s needs, and stay sane with a few hours of sleep and a long list of house chores.

Seeing our kids smile and being in their warm hugs melts away the tiredness at the end of the day. And the feeling that they are financially secure in the future takes away much of our anxiety.