Money Listens

Singles make up more than 40% of Americans over the age of 18. (According to the 2000 census). That’s over 80 million people. So why is it so difficult for 80 million people to talk about money. Surely it’s not because they can’t find someone to talk to. Or is it? Let’s face it, most people “talk” about money by either bragging how well their investments are doing or complaining how they don’t have any money. All while showing off their new iPhone or $400 Coach bag.

Singles have to make every decision alone. Am I being wise? Am I too hard on myself? I don’t have anyone to bounce ideas off of. I really don’t want to talk to my parents about this, but who else cares? Probably more people than you think. A good budget will help hold you accountable, but you still need a live person to give you feedback. It might be a friend or neighbor, maybe one of your parent’s friends, an uncle or older relative, or someone at your church who is willing to take a hard look at your spending and saving habits. Don’t be afraid to ask around. You need to find someone who will sit in on your “Budget Committee Meeting” to offer impartial counsel and encouragement.

If you have a child, you feel a tremendous burden. You only have one income, and nobody to fall back on if things get tough.

It is too easy to pay the minimum on credit card balances, buy the pricy new shirt, default on a loan, or make other poor financial decisions– because you can! Stick to your budget and schedule a regular time with someone to hold a “Budget Committee Meeting.”

The advantage to being single is that you don’t have a spender making bad purchases with your money (unless you have a teenager.) Your time is also your own. You may be able to get an extra job to pay off debt or jump-start your emergency fund. Finding someone you can talk about money with won’t be as difficult as you think. If you’re a single parent you will find this book helpful.

Financial Relief for Single Parents: A Proven Plan for Achieving the Seemingly Impossible by Brenda Armstrong (Paperback - Jan 1, 2007) Brenda Armstrong worked several years with Larry Burkett at Crown Financial Ministries and co-authored the workbook Every Single Cent.

This entry (Permalink) was posted on Wednesday, March 12th, 2008 at 3:58 pm and is filed under Budgets and Planets. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response , or trackback from your own site.