Photo by Alexander Mils from Pexels
So, you’re busy fixing breakfast when your teenage daughter asks if she can have $20 to buy a new shirt. As you fumble through your badly-beaten faux leather purse, you get the shock of your life as you realize that you have barely enough money left to see you through next week’s round of groceries!
I totally get you.
That has happened to me so many times. No matter how hard I try to make ends meet, I always seem to run out of funds. I sometimes want to pull my hair out from sheer frustration.
Imagine my surprise when I learned that the cost of typical family activities like going to the movies or amusement parks is higher for single parents than for two-parent families. Talk about the financial struggles of single parenthood!
PayPlan, a debt management company, did some research on this and found out that single parents end up spending more on simple family activities because of “family deals” which normally target two-parent families. After studying various offers from brands that provide family activities and travel services, they concluded that single parents do pay more every time.
If a single-parent family did all these family activities in a span of a few years, their total expenses will turn out to be £2,904.95 MORE than a two-parent family’s.
Here’s an infographic to better illustrate it:
Awareness is key. Now that you’re more informed on the difference in expenses between single-parent and two-parent families, how do you plan to manage your finances?