The State of YOUR Independence

Happy (Belated) 4th of July, SingleMomBuzz Readers!

     As our Fourth of July festivities come to a close and Independence day fades into the past, it is time to take a look at your life and your independence. Tell me . . .  what is the state of your independence?   Do you have control over your life?  Are you as independent as you would like to be.  One of our goals for this blog and for SWARM is to help single moms grow their independence. 

Independence is about having control over your life to create the life you want.  

      If you are like most single moms, your finances and your independence are closely woven together. Money is what allows us to do what we want to do. It allows us increased control over our lives and especially over our future.  The more money you have for your needs, the more money you can have for your wants.  The best way to gain control over your money (read: your finances) is to take the time to examine how you spend your money.  Who and what is getting your your hard earned cash?

     In a future post, we will show what the wage gap in the year 2013 means to us as single moms and   how the wage gap between men and women is still raging on.  We'll share an example of how this gap steals financial opportunities from women, and that the money lost, affects our day to day spendings, as well as our potential for a healthy financial future.  

     So, until the next post, understand that any wage gap, any time you get paid less than your co-worker for equal work, you, your family and your future are affected negatively.  The playing field is not always level and because of this, singlemombuzz blog and SWARM, our grassroots program, are prepared to help you.  Just like Ginger Rogers in her dances with Gene Kelley, she had to perform the same dance steps he did, only backwards and in heels.  He got the recognition for the dance and she was the showpiece.  Keep this in mind as you move forward in your life:  you may have to work harder to prove yourself, but unlike, Ginger Rogers, this is a time in history when you can prove your worth and have lots to show for it.

Independence for single moms will happen when you make good financial choices based on good financial information.  Just like this blog, there are many resources available to provide you with information to guide you on your road to independence. We will share what we find and hope that you too, will comment with tips that have provided useful in your financial life.  Paying attention to your financial life will also affect your children.  They will be witnesses to your spending and saving habits, and if those habits are good, your children will reap the rewards for themselves. Money is a family issue and when you children can learn good spending and saving habits now, it will prepare them for the future and improve their quality of life.  

     

    Hardly a day goes by that a single mom doesn't encounter a situation where she needs to make a decision that will affect her finances.  There are times in her life that, if she only had a little more knowledge on a specific subject, she would have been able to make a better financial decision. Sometimes it's that additional information that can help prevent overspending, resulting in enough of a savings to purchase a tank of gas, pay a utility bill, buy some groceries, or put into a savings account.

Consider this story and the reason why I created SWARM and swarmbuzz blog and singlemombuzz blog. 

    A couple of years ago I went to have my car's oil changed at a repair shop that performs both my regular maintenance and any emergency repairs. After the oil was changed and the liquids replenished, I was told that I would also need an air filter.  The mechanic explained that they used to change the air filter as part of the oil change, but with the price of oil so high, it is a procedure all its own.   I asked him how much it would cost.  He replied, "$17.00 for the part and $45.00 for the labor", (this was based on the half hour rate).  I asked if the change was something that absolutely must be done now or could it wait?   With a concerned look on his face, he answered that he would have it done 'as soon as possible'.

     I am not a mechanic. I am a mother on a budget. A mother with a child who rides in my car (I'm thinking safety here),  so... on the ride home, (after declining the service), I stopped by an auto parts store.  I went in and asked the clerk for the price of an air filter ($17.00). I questioned whether replacing the filter would be something I could do myself.  He asked why I wanted to know.   I explained I had just come from the auto repair shop where the mechanic said I needed the filter. I did not have the extra $45.00 (labor fee) it would take to have the service performed. The clerk at the auto parts store became obviously annoyed.  He asked me to follow him.  'Where is your car?'  I pointed to my car, and he told me to pop the hood.  He scanned the space, found some sort of container, removed a piece of casing, pulled the part out, and put the new filter in its place.  He put the top back on, flipped a lever to secure the casing and said, "There's your $45.00 labor fee".   I was dumbfounded. I paid for the part, thanked the clerk and drove off.  Once home, I replayed the two events over in my head.  I wondered who and what else was draining my quality of life.

     Since that day, I have made it a point to pay attention to who is getting my money and for what.

I have become hyper-vigilant when spending and I make it a point to check receipts, bills, etc. 

My daughter has observed me making phone calls to grocery stores, banks and even my human resource manager about errors that affect my finances. You never know when you might find a price discrepancy at the grocery store, an error in a checking account or a mistake on a payroll check, (like not getting paid for hours worked!).  My child is at the age where she doesn't like to be standing in line with me as I go through the bags and receipt to make sure I have gotten the savings I was supposed to get. However, she is observing good financial management and she understands that,  if I have saved any money, I just might use a portion of that to put into our Broadway saving fund.

Happy Independence Single Moms, what can you do to grow your independence?