Money Tips for Singles – Saving Money When You’re Single – Making the Most of Your Money Without a Partner
By admin on Apr 13, 2009 in Uncategorized
Being single presents some unique financial planning challenges, says Jeremy Vohnwinkle (About.com). “Whether you’re single by choice, or as a result of a recent breakup or divorce, there are a few things you need to keep in mind when managing money just for yourself. Since you’re the only one earning income and still have bills to pay, you need to be sure that you’re making the most of what you have since you don’t have someone else to fall back on.”
I realised this challenge most acutely during the time I was considering leaving employment and starting my own business. Even though I was leaving my company together with another colleague, to set up a private therapy and coaching practice, there was one big difference between the two of us. She was married and in the back of her mind, knew that in the worst case scenario, she could lean on her husband who had a good job and earned a good salary.
I, on the other hand, was single and had no one to lean on if my new business didn’t work out – for me it was make or break, sink or swim! However, with a solid financial plan, support from people who believed in me and a belief that was stronger than my fears, I made the leap.
It was touch and go in the beginning but now 4 years on, I have so much more time on my hands, I have more freedom and earn twice as much as when I was employed – and I love my boss!!
For some advice that might well be worth considering if you are single read more here: MoneyTipsForSingles.
