Advantages & Disadvantages of Being a Single Mother

Just like a married woman, there are disadvantages and advantages of being a single mother. Some single mothers relatively enjoy the advantages of being a single parent and cope with the disadvantages of being a single parent too. The truth is some single moms even prefer to live a life without a husband. They consider themselves free if they live that way. On the other hand, there are some single moms who really wish they had a husband whom they could share their joys and disappointments of raising a child for instance. They need a husband to help them handle their finances while their child is growing up.

If you get to visit and browse through a certain website for single mothers , you will get to discover that being a single mother is not all about hardships, disappointments or challenges. There are actually some advantages that most single moms get to enjoy. Let’s discuss them one by one. The first advantage is that you can raise your child on your own. This means you can make your own rules and discipline your child the way you want without having to deal with any contradictions from your husband if you have one for instance. The thing is at times some married couples discipline their child in a different way which can oftentimes create a conflict. The husband might be too strict while the wife might be too lenient. As a result, the couple cannot discipline their child well. Second, you can have more freedom and more time for yourself. This means you are free to chase your dreams whenever you feel like it without having to consult it with your partner or even argue about it. The thing is getting a higher education, spending time with friends, enjoying one’s own time and space or buying stuff one really likes is a common cause of conflict among some couples. Hence, being a single mother can give you more time to do what you want, get another education or buy what you want without any conflict or disapproval from a spouse. On the other hand, there are some disadvantages of being a single mother too. First of all, a single mother may not be strong enough to discipline a child. For instance, when the child becomes too difficult to discipline or becomes rebellious, it can be quite hard for a single mother to handle that kind of situation. However, if the single mother had a husband, then they could work together to find a much better solution to correct their child without a lot of difficultly. Second, as a single mother, you will have to work hard and spend more money so that you can raise your child and send him or her to a good school. Obviously, you will have to spend your own money alone on anything that you buy for your child and for yourself. If you do not get a higher pay, you might even need to work double time in order to survive financially. However, if you had a husband, you could divvy up the cost of utility bills, food, transportation, clothing, rent and more.

Process Company Payments Right Today

For you not to lose money and instead take advantage of it, you should know how to facilitate payments and keep track of them. Since you have limited financial resources, you should know how to process fees so that you would find out whether or not you’re spending wisely and how to save money by cutting down on some things. But, even though it may be true that dealing with payments may be advantageous, it may be difficult or even impossible for you to cover computations and updates all on your own. You have to understand that, when you’re running a business, you still have to attend to some other things which may be important. Because you can’t go about every business action independently, you should look for professionals who could help you out. Find those who do more than just claim that they can make accurate computations but those that have real education, training and experience when it comes to doing payroll, auditing and other budgeting tasks. Please continue reading for some more relevant information that may help you find the right people to work with.

Basically, you can look for someone who can do payroll because you need to make certain that each individual who is working for you in your company gets paid correctly. You could end up being sued or losing resources when you don’t pay your workers on the date that you agreed upon and with the amount that you promised. Since you have to make deductions on payments and because you have to pay workers on days when they’re allowed to take paid absences, you should have a system that experts can use to do expert calculations efficiently.

Take note that you also have to make sure that you give your employees some advantages like retirement benefits so that you would keep them from leaving the workplace that you provide them and with that in mind you have to make sure that their benefits are also paid as scheduled. Instead of relying on manual computations, you should utilize applications that are specifically designed to process payments. That’s because humans can commit errors after being overworked and computer programs do calculations fast and accurately.

However, aside from what was mentioned, there are taxes that you should also be concerned about. If you don’t want to get in trouble with the government, you should pay income taxes. You should facilitate the payment of taxes when you’re the employer because you’re the one who is providing your employees with work and you’re also the one that’s giving your workers salaries. Make sure that you deduct money from what your workers are earning to pay for their taxes so that you and your staff won’t be punished for ignoring duties. If you simply do not have the time to fill out forms, update yourself about the law and also total fees periodically and then process refunds, you should just go to websites on the internet like so that you would have help getting tax concerns processed.

Advice for Single Mothers

Although many single mothers often seem afraid or shy to seek advice, it is something that they should perhaps consider when it comes to an opportunity for them to further their education. Obviously, for many single mothers, if they could improve their education, they could qualify for a higher paying position and thereby improve their and their children’s lives. On the internet they will find scholarships for single moms advice and when they do they will see that there are far more scholarships available for them than they may have otherwise thought. Of course there are all the regular scholarships that are available for anyone to apply or, which they may have known about and thought that they may not qualify for but, in addition to those there are also scholarships which apply specifically to single mothers.

Scholarships regardless of for who they may apply, are not always full payment for the tuition, some o them are just for parts of the total costs but all of them could make the difference of whether or not a person can afford the further education. Some examples of scholarships and who they are intended for are: The Jeannette Rankin Scholarship Fund which has assisted more than 750 women over the age of 35, to get Associate Degrees by awarding amounts adding up to over $2 million. The Shawn Carter Scholarship Foundation which has also assisted 750 women, this time under the age of 25, with college fees and they have spent $1.7 million in doing so. The James E. “Pete“ Petersen Scholarship is something that single mothers should perhaps specifically look out for as they give preferential consideration to single mother’s applications and they can award as much as $6,000 per applicant.

When looking for scholarships that may apply to them, a single mother should not just look at any that apply in their state as there are many federal government programs which they may be eligible or as well. Some of these are the Supplemental Educational Opportunity Grant program that can award payments of between $100 and $4,000 to assist in education expenses. The Academic Competitiveness Grant which is especially for single mothers that passed secondary school after 2005. The National Science and Mathematics Access to Retail Talent (SMART) is another program that can award single mothers $4,000 and the Teacher Education Assistance for College and Higher Education program can give awards to single mothers that are looking to become teachers.

With all these different programs available, there may well be one which meets the needs of many single mothers and of which a single mother may qualify, especially remembering that some of these scholarships or programs only apply to single mothers. If a single mother is already in employment though, she should perhaps first check with the company she works for to see if they can be of assistance as, a local survey showed that today, 60% of American companies are prepared to assist single mothers with payments towards a better education.

2 Most Common Financial Aid Grants Offered to Single Moms

In today’s high cost of living, raising a family needs a great deal of money. It is also undeniably true that even two-income families sometimes struggle to make both ends meet because the financial demands of raising a family are just too heavy. Raising a family is even much harder for single moms who get to pay everything, from food to housing rent. The government especially knows that not all families can afford everything, so it tries to assist low-income families in the form of giving them some grants so that they can also improve their financial situation. Based on a government grants for single moms review, the government grants some financial assistance programs to single moms who meet the requirements. Below are the most common financial aid grants that the government gives to eligible single moms.

Pell Grants
These grants are given to those individuals who cannot afford to go to college or to get a post-baccalaureate certification on teaching. Undergraduate students who want to get a Bachelor’s degree, but do not have the financial means to do so can avail of this program as well. If you wish to apply for this grant, you must complete the so-called “FAFSA,” which helps the government determine whether you are qualified to receive financial assistance or not. It is your responsibility to prove that you need the financial assistance. Once you are awarded the grant, you can receive it annually until you graduate. The money you will receive will be used for your tuition and other costs related to your education. The biggest amount of grants that the awardees can get is over $5000. The amount actually depends the term of the education program, tuition cost and financial need of the awardees.

FAFSA Grants
The awardees receive the FAFSA grants after completing the so-called “Free Application for Federal Student Aid.” Once it is determined through the FAFSA that they are eligible to receive financial assistance, the awardees then receive two grants: the FSEOG otherwise known as the “Federal Supplemental Educational Opportunity Grant” and the Pell Grant. The FSEOG is under the supervision of the attending university or college, which takes the accounts of the students into consideration, depending on the value of the grant that it receives from the government. It is through the Pell Grants that the awardees receive money. The award or the money is then used for the students’ books, tuition and other expenses related to their college education. To get qualified for these grants, the applicants must prove that they cannot afford the tuition and that they really need financial assistance. Moreover, the awardees must take a part-time or full-time university or college education. However, you must take note that the FSEOG does not apply to all universities or colleges. That is why you must inquire about this beforehand. The awardees who are given the FSEOG grant can receive up to a maximum of $4000, depending on how much funds the university or college institution receives and the financial need of the awardees.

The Road to Retirement

Obviously most people look forward to a time when they can retire, relax at home and only have to go outside to do things that they want to, like take a holiday or make a BBQ. The trouble is though, in order to do that with piece of mind, they have to try and ensure that they have enough funds saved up to secure their retirement and that is not always easy to do. Now however, there is a type of investment fund that is ideal for just this purpose, it is a fund where the member can control what investments are made; how much and in what. It is a fund that will allow them to withdraw some if, after the age of 55, they find themselves just in part time employment but will allow them to withdraw pensions after the retirement age has been reached. These funds are relatively low cost compared to other funds and between 2010 and 2014 increased by a percentage of 12.5 whereas similar funds, during the same period only increased by 9.65%.

These funds are called self managed superannuation funds or smsfs for short and are becoming increasingly popular among those that are trying to take adequate precautions in order to secure their financial security in retirement. Among some of the points that make these finds so attractive, apart from their low costs, are the facts that members control the investments and up to 4 family members can join the same fund, reducing costs even more drastically. Another plus for these fund members is that they are permitted to take out loans for the fund, provided that the loan is used to make investments in properties.

Obviously with any fund, there are regulations concerning the opening of them and also in the way that they are administered and among these regulations is the fact that when several members of a family are in the same fund, only one trustee can be named, after which only the nominated trustee can make investments on behalf of the fund.

This is a reasonable regulation but all the nominated trustees are not always fully conversant with the sometimes complicated requirements imposed on savings funds. For that reason, many people choose to enlist the services of experts in these types of funds.

These experts can be consulted to either just assist in the opening of the fund, ensuring that it is opened as efficiently and cheaply as possible whilst others, opt to pay annual consultation fees which facilitate the experts in assisting the trustee with accounts required for both auditing and tax purposes. If the annual fee is decided on by the members of the fund, these experts can also give the trustee advice ensuring that the investments which they choose to make, are legal and appropriate for these types of funds.

These funds, although they allow members to seek expert advice, still leave the members themselves in the driving seats; making the decisions on exactly which advice they will chose to take.

LEARN EARLY: Learn To Invest or Teach Children How To Do It

Children nowadays ask so many questions that get to their attention. They learn all sort of things just by observing or simply teaching them the ways on how things are done. As they get older, they all get used to it or even want to learn more. In this article, you are going to teach your children to become smart investors. Since most parents hardly have the time to teach everything to their children, at least this one prepares their safe future.

First, you need to try to explain to them what investment is. It’s the money that you have that you can use for business purposes and then get more money in return or twice more than your capital. Since most parents open up savings account to their children and end up giving them when the time comes. I strongly suggest too that you do the same thing if you want to give them a secure future.

Second, teach them how to sell, how to offer services or teach them well at the store you own or you work at. In the eyes of the children, they tend to get along with it and may even understand more of it than you do. Show them how to keep track of the sales, the return of investments and all other things. For more information, you can also watch the following video, thank you.