As a single parent, the financial security of your family may be solely your responsibility, but don't overlook the following:

• Create a budget by asking yourself where you can spend less without drastically reducing your standard of living. There are many ways to cut corners including:
  • Take your lunch and snacks to work instead of using vending machines.
  • Buy in bulk at the supermarket and use coupons.
  • Entertain at home instead of going out to a restaurant.
• Start saving regularly for your children's education by putting some money into savings every pay period. If your company or bank has an automatic savings plan, sign up.
• Pay off your credit cards each month to avoid interest charges on unpaid balances.
• Be sure you either update or create a will. One of the most important items to include is naming a guardian for your children. If you do not name a guardian, a judge will appoint one and it may not be someone you would have chosen.
• Obtain adequate life insurance and disability income insurance coverages as this may be the only way to replace lost income in the event of untimely death or disability.
• Explore investments, retirement and financial planning with a qualified financial advisor or planner.
• Consult a credit counselor if you need help. Most communities offer counselors, low-cost legal clinics and other professional advisors who can help you plan for your present as well as future financial needs.