One of the greatest challenges experienced by single moms is lack of finances. [Photo/ the-star.co.ke]
Single moms face endless challenges while raising their children. One of the greatest challenges experienced by single moms is lack of finances. Unemployed single moms are the most affected when it comes to finances. However, there are ways to deal with these problems yourself. Here are five secrets to financial freedom for single moms.Find alternative sources of incomeThere are different ways to generate extra income. You can start a salon, hotel, boutique or sale Mitumba at the local market to earn a living. You can even babysit your friends or neighbours’ children for a fee.Set short and long-term goalsTo become successful, you must come up with short and long-term goals. While setting your goals, make sure that they are achievable. Setting goals that are impossible to achieve will only frustrate you.Save and investThere is no way you will become financially free if you do not save. Start saving the little amount of money you are making on a monthly basis. Once you have saved enough, invest in a viable business idea.Take risksSuccess requires risk-taking. You have to take different risks to become an achiever.Accept that you are financially independentOne of the important steps to financial freedom is accepting that you are independent. Once you do this, you will find ways of rescuing yourself.