How to afford a child as a single parent?
My friend is pregnant, but concerned she’ll be raising the baby by herself. She’s got a flat & mortgage, and a good job but is concerned how she’ll be able to afford to bring the baby up.
Any tips or advice for her would be very much appreciated - thankyou
I think a big thing to do BEFORE baby is to look at the last year of her spending and set a budget. See where she can cut to save. That "savings" can be put away now but can also then be used towards baby. I have found that the baby & toddler age hasn't been nearly as expensive as I thought. You don't have to buy that many clothes and can keep things basic and meet their needs pretty easily. I think every year from there she will just need to revise her budget as the family needs and dynamics may change.
Also, there may be assistance programs in her area too if she qualifies!