Insurance Must-Haves for Solo Parents

For many people, insurance is a big part of their financial plans regardless of their status. But for a single mom like me, it is a necessity. If there is anything that single parents shouldn’t be without, it’s a contingency plan. Having only one person taking care of the family means there is hardly someone else to fall back on if something goes awry. This is where insurance comes in as the family’s safety net.

Before I discuss the types of insurance single parents need, it is first important to determine how much of your pay you can allocate for insurance premiums.

Insurance Must-Haves for Solo Parents

For many people, insurance is a big part of their financial plans regardless of their status. But for a single mom like me, it is a necessity. If there is anything that single parents shouldn’t be without, it’s a contingency plan. Having only one person taking care of the family means there is hardly someone else to fall back on if something goes awry. This is where insurance comes in as the family’s safety net.

Before I discuss the types of insurance single parents need, it is first important to determine how much of your pay you can allocate for insurance premiums.

Single Mom Personal Finance (PF) Review Tuesday – Mvelopes

Today I am starting the 30-day trial of Mvelopes, a personal finance management system. I’d heard about this online program several years ago and I investigated it but I did not make the commitment to the program. The system is based on the envelop system, a simple idea of managing your money using envelope.

 

The basic idea is to separate your money each pay day into envelopes for everything you have spend. When the money is gone out of the envelope you do not spend until it is refilled at the next pay day.

Single Mom Personal Finance (PF) Review Tuesday – Mvelopes

Today I am starting the 30-day trial of Mvelopes, a personal finance management system. I’d heard about this online program several years ago and I investigated it but I did not make the commitment to the program. The system is based on the envelop system, a simple idea of managing your money using envelope.

 

The basic idea is to separate your money each pay day into envelopes for everything you have spend. When the money is gone out of the envelope you do not spend until it is refilled at the next pay day.