You need to work to pay the bills, and you need a car to get to work (among many other places). But affording a car can be really tough on a single mom with limited income. There’s the car itself, and then there’s car insurance, gas and maintenance, too. It’s enough to make your head spin. If you’re having trouble purchasing a vehicle, getting a loan, or securing reliable transportation, we have a few ideas to help you out.

Consider whether you really need a car or not. If you live in a city, chances are you might not. Public transportation is great in cities and can usually get you everywhere you need to go. You’ll lose the convenience of having your own car, but it’s worth it when you see how much money you’re saving. If the kids are old enough, they can ride the bus to school or walk there if it’s close enough. You can always accompany them on a public bus if need be. Purchase a frequent-rider pass for reduced fares.

If you’ve decided that you need your own vehicle, you’ll probably want to avoid the dealerships and look for alternative places to purchase your car. Habitat for Humanity takes donated cars and sells them for reduced prices. You should also check the paper or CraigsList.com to look for used cars. You could also write a post on Craigslist.com explaining your situation and saying that you’re looking for an affordable, reliable automobile. You never know who will read it-maybe someone has a car they were going to sell but would rather it go somewhere it’s really needed. You could also check with car rental companies-they occasionally have rental cars for sale. Just be sure to have a mechanic inspect any used vehicle before you buy it.

Don’t forget to check with your local Social Services agency, credit union, or any related non-profits in the area. Many times credit unions will design loan programs that help single mothers purchase reliable transportation a credit union is a very good source for financial help . More often than not, a vehicle means the difference between a single mom receiving government aid and not because of her ability to get to work. Agencies know this and many will take extra steps to help you on your quest to find a car. Use the power of the internet to help you, too. Search for automobile grants and loans for single moms.

The goal of SingleMomFinancialHelp.com is to help women change the world through information and education. We are creating a support structure through which all women of the world can educate one another about where they have been, where they are right now and where they are going. With help from our site and the information and articles we distribute women will be more educated in finance, business, home matters, relationships, career and higher education.

This may seem unusual to be a Business/Personal Coach who specializes in Divorce and helps couples avoid divorce if at all possible, but that is my goal.

Five Tips on How to Enjoy a Happy Marriage and Keep it That Way!

1) Focus on the strengths and the value that each of you bring to the relationship. Notice whether you are ONLY focusing on your spouse’s weaknesses or quirks? Make a list of each of your strengths and honor them.

2) Master the Art of True Listening. Take time for each other at least 15 to 20 minutes three times a week without the interruptions of TV, computers, cell phones, etc. We all need to feel heard and understood. By giving each other the respect of true listening will change your marriage forever.

3) Treat your spouse as you would a stranger. Be aware of how you treat someone that you just met. Are you kind, respectful, patient, understanding and maybe even forgiving? Why not treat your spouse the same way?

4) Never stop spoiling each other. When the spoiling stops the marriage is in trouble. Keep it simple. It could be as simple as greeting your spouse after a long, challenging day with a cup of tea or a glass of wine.

5) Do an Act of Kindness. We hear all the time how important it is to do an Act of Kindness for a stranger without expecting anything in return. Why not your spouse?

As the Founder of the National Association of Divorce for Women and Children, Joanie’s passion is to help women be the best they can be as well as become role models for their children and community. The 24/7 Resource Center was created not only because of the lack of support and guidance Joanie experienced after her divorce, but for the many women who experience the same challenges.       

Joanie became a successful business owner of a True Value Hardware store at the age of twenty five. After eighteen years in the retail arena, she embarked on a professional career as a speaker, author, business/personal coach specializing in divorce and a Certified Behavior Specialist. She is also the Divorce Specialist for the National Association of Baby Boomers.

To continue to help provide a healthy lifestyle for women and children, Joanie is the Founder of the non-profit Happy Wednesday Foundation which provides funding for women’s educational mentoring programs during and after divorce.

For more support and encouragement during and after divorce, visit the National Association of Divorce for Women and Children.

By Kelly Kilpatrick

Divorce is a devastating time in a person’s life.  Unfortunately, divorce can also wreak havoc on your finances and can leave you without a safety net during a vulnerable time.  But, some good advice can limit financial hardship, which is especially important during a time in your life when you may not be thinking clearly.  Keeping tabs on your finances and credit history can mean the difference between a fresh start and financial ruin.

When you decide it’s time to end your marriage, there are several things you can do immediately to safeguard your finances:

Establish Responsibility

Look at all your bank accounts, mortgage, credit cards, utility bills — everything.  Know who has personal responsibility for each account.  Even if you’ve already decided who gets your property, you still need to establish sole responsibility.

Dissolution

Dissolve ALL joint accounts (mortgage, credit, utility).  If your spouse has access to your account, he/she has access to your money/personal information.  However painful, be sure you do this together with all the proper paperwork in place so everything is legal.   You need to close these accounts and open individual accounts.  Divide any remaining funds evenly.

Sell the House

This is the best and simplest solution for shared real estate holdings.  It is also the most equitable because it enables you to split the proceeds.  You don’t know what the future can hold and if you’re name stays on the deed, you are responsible if anything happens to the house.

Documentation 

This is especially important as you begin divorce proceedings.  Make sure all financial arrangements are made and all paperwork processed and filed.  You may need this information in the future and it’s good to have it ready now and can be used in court.

After you’re divorced, you must be vigilant:

Watch that score

You should already be doing this every year but it’s especially important to monitor your credit score after your divorce.  Your credit score can drop after a divorce.  And, you’ll be able to monitor activity on your accounts to ensure there is no unauthorized activity.

Tell your creditors

To head them off before the collection calls start on accounts no longer yours, call your creditors and tell them you’re divorced.  This may take a while and it’s a good idea to notify them in writing as well as over the phone.

Divorce is a complex and emotionally-charged process.  It can be difficult to “play hardball” when you’re hurt but it’s imperative for your future financial health.  Amicable divorces happen when both partners come to the table prepared, reasonable and rational.

Launched in May 2007, BusinessCreditCards.com provides a resource for any business owner or self-employeed individual who is searching for a better credit card.

Our blog, Bootstrapper, is a resource for any small business owner operating on a shoestring budget, and provides tips on financing, cash flow, low-cost marketing and small business loans.

With the rising prices of attending colleges, many single mothers are looking towards community colleges to help defray some of the costs. More and more students are recognizing the many benefits of community colleges, and are choosing to spend the first year or two of their studies at institutions like these. Some of the many benefits of community colleges include:

• Close to home. Many communities have local colleges, which means that students do not have to travel far to find high quality education. And since single moms and their families will not be spending exorbitant amounts of money on tuition, they often do not have to borrow money through student loan programs. Studying close to home also means that moms can still live with their children, thereby saving on room, board, and travel expenses.
• Small class sizes. Classes in community colleges are usually relatively small, so students get more individualized attention from their instructors. This interaction can often mean that students get a firmer grasp of the course’s content, making them well-prepared for advanced classes.
• Low tuition costs. The costs for courses at a local community college are often much less than universities or four year colleges, making higher education accessible to everyone. Mothers who would struggle financially to put themselves through a university are usually much more able to pay for courses at a community college. Students can often also work part-time and pay for the coursework themselves.
• Quality of education. Whether the students at community colleges intend to end their education with their associate’s degree, or they plan on transferring their coursework credit to a university, the quality of education at community colleges is usually more than sufficient. Instructors usually have a strong commitment to their students, and work hard to make their courses meaningful.

If you are interested in attending a community college, look around to the choices in your area, paying attention to both the programs they offer as well as their quality of instructors. You will usually be able to find several colleges in your area that offer your intended program; so your choice comes down to how impressed you are with the instructors, as well as how transferable the coursework is. Ask the college’s registrar to give you a list of which universities accept credits from them, to make sure that you can use the credits you earn later on, if you desire.

The goal of SingleMomFinancialHelp.com is to help women change the world through information and education. We are creating a support structure through which all women of the world can educate one another about where they have been, where they are right now and where they are going. With help from our site and the information and articles we distribute women will be more educated in finance, business, home matters, relationships, career and higher education.

Going through a divorce is a very challenging time in a person’s life. It is hard to adjust to being single again, as well as living “out of the habit” of being married, especially if you have been married for many, many years.

It is suggested that you use this precious opportunity to rediscover yourself. Think of this time in your life as an adventure to explore the real you. If you have worked outside the home combined with being a mom and wife for the last ten, fifteen or twenty years, you may have lost yourself along the way. Certainly not on purpose, but as most women try to do it all as “super” moms, many times we put our own wants and needs on hold to keep our families and jobs running smoothly!

Take a deep breath and let’s start to rediscover your true passions and say…
Will the Real Me Please Stand Up!

Tip#5 What Makes Your Heart Sing?

What really matters to you? What do you feel is your true purpose in life? If someone asked you that question, how would you answer them?

Why is it so important to be clear on what your life’s purpose is? Knowing your purpose, will give you a true sense of who you are and why you were put on this earth. It gives your life direction and helps you make clear and easy decisions concerning that direction. It’s your compass! Without a purpose, can your life be compared to a piece of driftwood? Floating endlessly in whichever direction the tide decides to take it and ending up on any beach with no will of its’ own.

When you live your life based on your purpose you are living in integrity with yourself and are in alignment of who you really are in all aspects of your life - body, mind and spirit. Take this time to focus on what really matters to you. Feel the true passions that exist in your heart and write them down.

As the Founder of the National Association of Divorce for Women and Children, Joanie’s passion is to help women be the best they can be as well as become role models for their children and community. The 24/7 Resource Center was created not only because of the lack of support and guidance Joanie experienced after her divorce, but for the many women who experience the same challenges.       

Joanie became a successful business owner of a True Value Hardware store at the age of twenty five. After eighteen years in the retail arena, she embarked on a professional career as a speaker, author, business/personal coach specializing in divorce and a Certified Behavior Specialist. She is also the Divorce Specialist for the National Association of Baby Boomers.

To continue to help provide a healthy lifestyle for women and children, Joanie is the Founder of the non-profit Happy Wednesday Foundation which provides funding for women’s educational mentoring programs during and after divorce.

For more support and encouragement during and after divorce, visit the National Association of Divorce for Women and Children.

Being a single mom and still providing for yourself or your children can be a very stressful and frustrating experience. There are many problems in finances for single moms and loans for single moms but getting help isn’t always easy so there are some services you should be aware of.

Education loans can be very tough to pay back, should you have debts remaining on your student loans. This may force many moms to consolidate their payments, which will put them into debt for 10-30 years, but allow them to keep out of bankruptcy longer. If you have children who wish to obtain student loans, and you are a single mother, it is harder to get such loans for a few reasons. First, women usually make less money than men. If you are a single mom, you don’t have a partner’s help with income, and also learn less than a man would. You are also less likely to have enough collateral to prove that you can pay the loans back, and you are more likely to have previous debts to pay. Education loans and single moms obviously do not mix well together, as you can see.

Like education loans, automobile and home loans operate in the same manner. You are more likely to be rejected for a house rather than an apartment, since houses on average cost much more. Automobiles also put single moms at a disadvantage- since automobiles often break down, requiring more money be spent. This makes the odds that a single mother can pay back a loan less likely, as maintenance can eat up much of a single mother’s income.

Business loans are another subject that may cause single mothers to have trouble obtaining loans. This is increasingly harder than other loans, since businesses are extremely risky operations. The odds of maintaining a successful business is usually quite low for small business owners. Having sufficient collateral is again a problem with single mothers, forcing many to not get the needed business loans to start their own business. Single mothers usually have a lower credit score, since they incur more debts than other couples or single men on average. This will also lead to a lesser chance of getting approved by credit card companies, making the buying power of single mothers even more burdensome.

However, there are ways to influence or take advantage of situations in favor of single mothers. You may speak with the Department of Social Services for things such as welfare, food stamps, child support, medical programs, and child care assistance. These programs can be found in phone books, government agencies or on this website. There is a lot of paperwork to apply, and the waiting time can be very long. The wait is often worth it, since single moms need all the help they can get.

School lunch and breakfast programs should be taken advantage of. This is a federal program that gives reduced prices or even free lunches and breakfast to kids who attend school, and eat at the school. Other grants can help you in funding for food or even gas and heating bills. Churches often have programs to help as well, and you should explore all of these options for a better life for children a single mom may have. Reduced prescriptions and free counseling are also available to those who apply- so make sure you take advantage of such offers to the fullest.

When looking to improve your credit score, you should have family members or roommates split bills, and put some bills in your name. This will improve your dependability and credit rating. Also make sure that you stay away from penalties such as bounced checks, which can effectively ruin your credit. Doing this will eventually raise your credit score enough to gain some respect among loan specialists, which can bring you to a new step above where you previously were.

When you have better access to loans, you can get lower rates. You can better obtain a business loan, for example, with your improved credit rating. You may also co-sign loans with family members to add credit to your score- and regular payments will again boost it. In case you can not make a payment, the money is then billed to your family member- so either way the bank will most likely get its money. This is the best way to obtain a loan if you are not qualified enough, and doing so is one of the best ways to improve your credit.

Over all, single moms are at a disadvantage. Statistically, they will make less money and not qualify for loans. They will also have more poor living experiences, and will have less buying power. Following the previous steps will allow single moms to achieve a better way of life for them or their children, regardless of their standing in society’s hierarchy.

The goal of SingleMomFinancialHelp.com is to help women change the world through information and education. We are creating a support structure through which all women of the world can educate one another about where they have been, where they are right now and where they are going. With help from our site and the information and articles we distribute women will be more educated in finance, business, home matters, relationships, career and higher education.

Give yourself the gift of YOU
Re-charge your energy to lower your stress and avoid living in the “red zone” during the holiday season.
It is a must to schedule a minimum of ten minutes a day for yourself every single day to recharge your energy, even if only sitting down with a cup of tea.

Learn to let go
Throw that worn-out holiday to-do list in the nearest receptacle!
Instead focus your time and energy on planning fun activities with your children and special friends.

Start new traditions
To help move your life forward after divorce, it is important to start new holiday traditions with your children and family.
Some of the new traditions could include engaging your children to reach out to a local charity or children’s hospital and plan a daily “act of kindness.”

Focus on the positive
Start today with positive thinking and reduce those negative feelings before they overwhelm your state of mind. Pick a day to begin, and have your children identify one thing they are grateful for. Post the list on the refrigerator and let them add an item each day. A great way to start the New Year!

Be kind to Yourself
Do something special for yourself, especially during the holiday season. Go shopping and buy something just for you…not the children or the house.
Plan an evening with friends or rent a movie and relax. Embrace the goodness of your spirit and decide that you control your peacefulness.

~ Joanie Winberg

As the Founder of the National Association of Divorce for Women and Children, Joanie’s passion is to help women be the best they can be as well as become role models for their children and community. The 24/7 Resource Center was created not only because of the lack of support and guidance Joanie experienced after her divorce, but for the many women who experience the same challenges.       

Joanie became a successful business owner of a True Value Hardware store at the age of twenty five. After eighteen years in the retail arena, she embarked on a professional career as a speaker, author, business/personal coach specializing in divorce and a Certified Behavior Specialist. She is also the Divorce Specialist for the National Association of Baby Boomers.

To continue to help provide a healthy lifestyle for women and children, Joanie is the Founder of the non-profit Happy Wednesday Foundation which provides funding for women’s educational mentoring programs during and after divorce.

For more support and encouragement during and after divorce, visit the National Association of Divorce for Women and Children.

By Ginita Wall, CPA, CFP®

While it may not always feel like it, your divorce  is more than just an ending. It can be the beginning of an exciting new chapter in your life. In the months and years after divorce, a myriad of new options will unfold. And the best part is—you’re in charge now. Whatever your goals may be, your life is uniquely your own, and you’re in the driver’s seat.

Map your financial future. As you approach the end of your divorce, it is likely you will have weathered the largest single financial and legal transaction of your life. No matter how well you do financially in the divorce, it can be scary. Often the six- and seven-figure lump sums that are obtained from a pension rollover or retirement plan or the sale of a house are one-time, non-replaceable assets. This is serious money and it must be carefully invested based your new circumstances. Making the right decisions for this one-time windfall can go a long way toward making sure you have a comfortable retirement, provide for your kids’ college education and even leave a legacy for your grandchildren.

Find the right direction. Suddenly being on your own to deal with such issues as money, children, and career changes, and the need to make decisions on the family home can feel overwhelming. Peace of mind comes from having a course of action for the days ahead and a strong support team to guide you. Be sure to choose a financial planning professional who specializes in navigating the divorce process.

Build your recovery team. There is a burgeoning field of financial advisors who specialize in providing advice on the financial questions people face during and after divorce. One designation for such a specialist, the one I have received, is the Certified Divorce Financial Analyst (CDFA) accreditation. It is not the only certification for the specialty so you may find advisors with other certifications as well. Your divorce recovery team should also include a qualified accountant and estate-planning attorney. You may even want a therapist, career counselor, or QDRO specialist (for pension or retirement account divisions) on board. Working with the right people will contribute greatly to restoring your feelings of well-being and self-confidence.

Ask the right questions. How much will it cost you to live post-divorce and how will you generate income? How much spousal support will you receive and for how long? What is the most efficient way to split retirement accounts and take receipt of the money? How might a business or medical practice be offset? Would you benefit from a lump sum payment rather than monthly spousal support? What should you do with the house? Most important of all, what should you do to manage your settlement post-divorce?

Your financial team can help you identify your unique needs and goals going forward. But it’s not only about the facts and numbers. It’s equally important to integrate the softer, subjective issues you face. The process of moving forward is as important as the final terms of the divorce decree. Really great financial planners are not simply strategists but also compassionate mentors and guides.

Begin to enjoy your new life. Money is intertwined with every aspect of your life—your home, your children’s education, even the quality of your health care. As you enter the new road of life ahead, consider your options: set goals, take a class, plan a trip, or find a new job. Creating goals for yourself, learning new skills, and keeping busy will help you feel a sense of purpose and empowerment. That is not to say you won’t have low times. Everyone does. But the bad days will be fewer as the good ones become more frequent.

I know that divorce is one of the most emotionally difficult events you will ever experience. But believe it or not, over the years I have seen thousands of people who went through the divorce process and not only survived, but thrived. That is what I wish for you. Time to rebuild…and flourish!

Ginita Wall, CPA, CFP® is a Certified Divorce Financial Analyst in San Diego, and is director of the non-profit Women’s Institute for Financial Education (www.WIFE.org). She is author of eight personal finance books, including The ABCs of Divorce for Women and the booklet “150 Ways to Divorce Without Going Broke” and is a columnist at Divorce360.com.

Reprinted with permission from the Women’s Institute for Financial Education www.Wife.org and www.MoneyClubs.com. Founded in 1988, WIFE is a non-profit organization dedicated to providing financial education for women. Copyright 2008