It's A Single Mom Thing

Budget Like a Queen: Single Mom Hacks for Financial Freedom

• Shepherd's Village • Season 5 • Episode 3

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In this episode of It’s a Single Mom Thing, we’re diving into Budget Like a Queen: Single Mom Hacks for Financial Freedom. Discover how to make your tax return work overtime, build an emergency fund fit for royalty, and master savvy strategies to stretch your dollar further. Learn how to flip a scarcity mindset into an abundance mindset while teaching your kids financial truths that will impact generations to come. 👑

Key Takeaways:

  • 🛠️ Practical Hacks: Smart strategies to track expenses, save for essentials, and cut costs without sacrificing joy.
  • 💡 Mindset Shifts: Rewrite the story you tell yourself about money and start building a future full of abundance.
  • 🎒 Planning Ahead: Tips for covering summer expenses like camps, snacks, and sunscreen with ease.

For Tampa Bay listeners:
📅 Join us Tuesday, January 28, at the It’s A Single Mom Thing class to explore these strategies in person. More Info ➡️ shepherdsvillage.com/classes.

📅 Faith and Finances Community Group: From January 29 - April 16, meet every Wednesday 6-8 PM to strengthen your financial and faith muscles. Childcare available! Email learningtogether2025@gmail.com to register.

📑 Linked Resources Mentioned in the Episode:

Budget like a queen so you can live like royalty—because your financial throne is waiting!

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It's a Single Mom Thing, Not the Single Thing That Stops You!

Speaker 1:

Welcome to it's a Single Mom Thing, the show for single moms by single moms. This is Sheri, your host, and I am happy you are here today. Remember it's a single mom thing and not the single thing that stops you. Welcome back to another episode of it's a Single Mom Thing. So I forgot that Monday was a holiday, so I apologize if you were looking for me and I wasn't to be found.

Speaker 1:

So today's topic is going to be a fun one, so you're going to need to roll up those sleeves and get ready to do some hard work. So, ladies, let me ask you something. What would happen if you wore your crown with confidence when it came to managing your finances? Now, before you roll your eyes or think I'm about to talk about cutting coffee runs, I'm not so slow your finances Now, before you roll your eyes or think I'm about to talk about cutting coffee runs, I'm not so slow your roll. I'm here to take the B that is, the B for bad out of budgeting. You see, budgeting it isn't about deprivation, which, by the way, creates a scarcity, slash, poverty mindset. It's about a declaration declaring that you are in control of your financial kingdom, which is an abundant mindset Own in your crown queen. Think of it like this Every queen manages her realm wisely, prioritizing what matters most while building a future that thrives. That's what we're going to do today, my friends. So if you're feeling a little overdrawn, not just in your bank account but in your life, this episode is here to remind you that financial freedom isn't about perfection. It is about progress, just like everything we're going to discuss this year as we're going to learn how to thrive in 25. Like everything we're going to discuss this year as we're going to learn how to thrive in 25. So we're taking a real, doable, practical approach and strategies to make the most of what you have, stretching that dollar until it's, doing yoga and planning for a year ahead with confidence. Because, let's be real, when you're a single mom, every dollar has to do double duty, just like you, and that's okay because you, my sweets, are resourceful, resilient and ready to reign.

Speaker 1:

In this episode, we'll break down how to make that tax return work overtime for you, plan ahead for summer expenses like camp registrations, and sprinkle in some savvy hacks that'll have you managing your finances like the royalty you are. But wait, there is so much more. We'll also take a deeper dive into mindset hacks to move from scarcity or poverty mindset to one of abundance. Because Thriving in 25 isn't just about money, it's about the heart and faith behind it. After all, this is your Thriving 25 journey, so get your royal playbook out. This is your Thriving 25 journey, so get your royal playbook out. That is your journal and a pen. Grab your coffee, adjust that crown and let's budget like the queens. We are one step at a time.

Speaker 1:

Tax return treasure let's talk about that moment when your tax refund drops into your account. Oh, it can feel like a mini jackpot, right, but here's the thing this treasure isn't just for spending, it's for strategizing. A queen doesn't squander her gold. She invests it wisely to secure her kingdom's future. Let's get to work, making your refund work overtime for you. Number one build your emergency fund.

Speaker 1:

First things first, queen, your kingdom needs a safety net. Start with a thousand dollar emergency fund. It's your financial armor against life's curveballs car repairs, surprise doctor's visits or that fun moment when your kid's shoes fall apart at school. Prize doctor's visits, or that fun moment when your kid's shoes fall apart at school. Once you lock in that thousand dollars, you can build towards the grand prize, and that is a full three to six months worth of expenses. But let's focus on this first win, because nothing says boss move like being ready for the unexpected.

Speaker 1:

So here's the tea. Let's say that your tax refund is $2,500. Well, girl, you're going to slap $1,000 of that bad boy straight into your savings account and boom, you've just conquered your first milestone. Now you can work on saving smaller amounts, like $50 or $100 from each paycheck, to grow that fund and reach bigger goals. Now compare that to starting from scratch without your tax return. What would that look like? Saving $50 a week would take you 20 weeks to reach $1,000. An eternity when life keeps throwing you curveballs. You see, using your refund well, it fast tracks your success and gives you the peace of mind that you deserve, queen.

Speaker 1:

So here's a journal prompt. I hope you got it out. So listen, what is your first $1,000 emergency fund goal? Write it down. How much of your tax return can you allocate to it? What small steps you'll take to keep building it? Now I want you to roll up those sleeves a little bit more and dive a little bit deeper with me. What expenses can you cut to save faster? Is it finally time to cancel that streaming service you never watch, could you DYI your mani padis for a while? Your budget deserves your best moves, girl, so make them count. And here's a quick tip, ladies you need to treat your emergency fund like your crown jewels non-negotiable and worth protecting.

Speaker 1:

Number two pay down debt. Nothing screams freedom like shedding the weight of debt. Am I right? Prioritize those high interest debt first. Credit cards and pay down loans are the royal budget killers here. Paying off your balance in full each month is the ultimate glow up, but if that's not doable, aim to pay at least 30% of your balance and make those payments on time every time. Why? Because staying on top of it keeps your credit score looking sharp and your financial gain strong. For example, if your credit card balance is $1,000, paying $300 not only keeps your credit score safe, but also reminds you that every swipe of that card is not a swipe at your throne. The real win Now, that is consistency. Every on-time payment is a step closer to throwing off those financial shackles for good.

Speaker 1:

Number three invest in essentials, queens, let's talk about essentials, not just the boring basics, but the real life stuff that hits your budget every year. Use a slice of that tax refund to cover the must-haves you know are coming, like school supplies because kids don't stop growing Clothes, birthdays yours, theirs and everyone in between and holiday expenses like Christmas. And don't forget those sneaky doctor's visits when the kids come home sniffling like it's their job. Setting aside part of your refund for these predictable costs means no scrambling later Translation, no last-minute stress or credit card swipes for what you could have planned ahead. You're smoothing out the bumps in your financial road and setting yourself up for a year of wins. So here's my little sassy tip Handle your essentials now so you can focus on more fabulous things later, like that dream you've been saving for. Prioritize your royal needs and keep that budget flexible.

Speaker 1:

Queen Number four save for housing stability. If your current living situation feels more like a reality show than a fairy tale, it's time to make some moves. Use part of your tax refund to save for big ticket needs like security deposits first and last month's rent or application fees. Are you couch surfing or living in your car? Start researching housing programs or grants in your area and set aside funds for those application costs. For more information on the difference between income-restricted apartments and income-based housing, and to find these resources, a link will be included in the podcast description. Knowing your options is the first step in securing your castle. So here's my sassy tip. I'm going to have lots of those. A queen deserves a castle. Every dollar saved gets you closer to stepping into a home that is fit for royalty. Keep your eyes on the prize and don't let the temporary setbacks dim your shine.

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Number five supplement food expenses. So let's face it, feeding your royal court can be a challenge when budgets are tight. This is where your tax refund can ride in like a knight in shining armor. Use it to stock up on fresh produce, proteins and the kinds of items food pantries don't always have. And don't sleep on the government or non-profit programs. They're there to help fill in the gaps. So my sassy tip here is think of your kitchen as your kingdom. A little planning now means you'll rule mealtime like the queen you are, without breaking the bank.

Speaker 1:

Number six plan for long-term goals. So let's talk about thinking ahead, but with priorities in place. Before diving into college funds or retirement accounts, your first mission is to fully fund that emergency stash. Remember, a queen's castle isn't secure without a strong foundation. Once that's handled, long-term planning can focus on practical needs that move you closer to stability. For instance, if you're part of a program like Habitat for Humanity or a first-time homebuyer initiative, use a portion of your tax return to save for requirements like down payments, closing costs or program fees. This not only sets you up for success, but keeps your royal sights fixed on the big picture. This not only sets you up for success, but keeps your royal sights fixed on the big picture. Moss' essay tip here is your future self will thank you for these choices, especially when you're turning that key to your own front door. Every step now is an investment in your happily ever after Number seven plan. Now relax later Summer expenses.

Speaker 1:

Summer may feel far away, but planning now can save you from a financial meltdown. When the kids are out of school and looking for some fun, start by using a part of your tax refund to lock in those summer camp spots. Early registration often means discounts and you'll have peace of mind knowing your kids have a safe, enriching place to go. Be sure to check out your local recreation departments or YMCAs for summer camp programs. And when open registration begins and don't stop there, queen Summer comes with a parade of expenses Snacks for hungry little humans, sunscreen that seems to disappear and outings that can add up fast. Create a summer fund to handle these costs without breaking a sweat. So my sassy tip here is that many camps offer scholarships or financial aid, but these funds are limited, so apply early. Keep a running list of all the expected summer expenses and add a little buffer for that surprise ice cream stop or play dates.

Speaker 1:

Being prepared lets you enjoy a summer as the cool, calm, collected queen you are, and number eight treat yourself responsibly. Every queen deserves a little indulgence. So set aside a small percentage, say 10%, for something that brings you joy, whether it's a special outing with your kids or something you've been eyeing. Just make sure it's within reason and aligned with your overall goals. So here's where you're gonna get your journal and pen back out.

Speaker 1:

I want you to reflect on your tax returns purpose. What are three financial goals you can use it for this year? It may not be any of the ones I just said, and it may include some of them. So write them down and then, next to each one of them, jot one action step to make it happen. And here's a little scripture inspiration to help you. Proverbs 21.5 says and it reminds us that the plan of the diligent leads surely to abundance, but everyone who is hasty comes only to poverty. Let's approach our tax refund with the diligence and a plan, trusting God to bless the work of our hands.

Speaker 1:

Hack your kingdom. Now that we've laid the foundation for your kingdom with an emergency fund and more, it's time to level up. Every great queen knows that ruling isn't just about having the goal. That's about knowing how to stretch it, flip it and make it work smarter for you. Start off one by tracking every coin. Let's face it, money has a sneaky way of slipping through our fingers, doesn't it? Start by tracking every expense for a month. Yes, even that $1.99 app, or the $3 coffee I don't think the coffee is $3 anymore. Anywho, it all adds up. Awareness is the first step to reining over your finances. Once you know where it's going, you can decide if your budget is supporting your goals or just your impulse buys.

Speaker 1:

Number two the $5 rule. Here's a simple hack Every time you get a $5 bill, save it, toss it into a jar or a savings account and watch it grow. It may feel small, but those little victories add up, and it's a fun way to build your stash without overthinking it. So here are some spending rules, though, that I want you to apply to this $5 rule, so to make that $5 rule stash really work for things that truly matter or bring your joy. This is what you're going to do. You're only going to use it for emergency splurges, like treating yourself to something small and meaningful when life gets tough. You're only going to use it for special moments, say for a fun day out with the kids, like ice cream at the park or tickets to a community event. You will only use it for unexpected needs, like to cover last minute school supplies or a small gift for a loved one, without dipping into your main budget. Now, my sassy tip here is to resist the temptation to spend your stash on impulse buys. Remember, this is your crown fund. It's for moments or needs that make you feel like the queen that you are.

Speaker 1:

Hack number three subscription services, streaming services, gym memberships or meal kits. Are you really using them? Cancel the ones collecting dust. Then flip those savings into something that actually serves you, like your emergency fund or summer expenses. Hack number four bargain like a boss. Shop secondhand, use coupon apps and I'm going to have some links in the podcast description notes for those apps and don't be afraid to negotiate. Girl, your money is worth the effort. From thrift stores to online marketplaces, there are plenty of ways to snag deals and keep more cash in your crown while you're wearing your heels.

Speaker 1:

Hack number five and you've heard this probably before the cash envelope method. I know it's old school lunch, but it works. You may be a queen, but remember cash is king. Assign envelopes for categories like groceries, gas and fun money. Yes, you need some fun money. The key here is once the cash is gone, it's gone. No swiping your card and overspending. This method helps you stick to your budget while keeping spending in check.

Speaker 1:

Hack number six say no with style sometimes. Financial freedom sometimes means saying no, whether it's skipping the pricey drive-thru dinner, holding off on a shopping spree, saying no to the candy near the counter in the checkout line. Remind yourself that every no now is a yes to your future goals. Declining doesn't make you less, it makes you smart. So my sassy tip here is your budget isn't a burden, it's your throne. Reign wisely and remember that every dollar saved is another jewel in your crown. Write in your journal all the future yeses you want. So when it's time to say no, you know that no is a yes to a next opportunity. Think beyond the budget. Being a financial queen isn't just about cutting costs. It's about owning your throne and shifting your mindset from scarcity to abundance. Let's train your financial muscle to think bigger and act smarter and turn challenges into opportunities. Because listen here my darling ruling your finances is about a strategy, not a struggle. Ruling your finances is about a strategy, not a struggle.

Speaker 1:

So, number one practice some gratitude. Start by focusing on what you already have. You see, gratitude. Gratitude turns the I don't have enough into look at all that I have been blessed with Each day. I want you to jot down three things in your journal that you are grateful for, no matter how big or small. You see, because gratitude it's like glitter it sticks and makes everything shine brighter. Number two flip the script. Now let's have some grace here.

Speaker 1:

Sometimes the story you tell yourself about money wasn't written by you. Maybe it came from parents or people in your life who grew up saying, well, we'll never have enough, or money doesn't grow on trees. Does that sound familiar? It's time to recognize those borrowed beliefs and rewrite them. It's not too late, my queen. You see, your financial future is still your story to tell.

Speaker 1:

Number three train them in the truth. Remember, little eyes are watching the way you handle money today is a lesson your kids will carry into their tomorrows. Teach them to see possibilities, not limits. Show them how to budget, save and give. What you teach now they will preach later. So train them in the truth and set them up to win.

Speaker 1:

Number four shift I can't to. How can I Stop telling yourself what you can't afford and start asking how can I make it happen? You see, this reframe invites creativity and solutions. Can't buy new clothes, host a clothing swap, need extra cash. Look into side hustles. You can do after bedtime. You see, back in the day when I was a single mom, I did digital marketing for friends who were small business owners. Because queens don't quit, they strategize.

Speaker 1:

Number five invest in learning. Knowledge is power and every queen needs her arsenal. Dive into personal finance books. Binge on a budgeting podcast, take a free online course or subscribe to daily emails from apps like Money Wise or the Penny Hoarder. The more you know, the stronger your money game will be. Learning is your golden ticket to leveling up. And if you live in the Tampa Bay area, stay tuned to the end of the podcast, as I have an opportunity for continued learning for you.

Speaker 1:

Number six surround yourself with abundance minded people. You see, your vibe attracts your tribe. Hang out with people who inspire you to think bigger and hustle smarter, whether it's joining a mom's group, a faith-based circle or a budgeting community. Connect with folks who will hype you up and keep you on track. Number seven declare abundance daily Words. They're like miracles. You use them wisely Every morning. Declare affirmations like I'm the queen of my finances or I attract opportunities and abundance with ease. Write them, speak them and believe in them, because you are shaping your reality one word at a time. Also being mindful to start every morning off in his word, as he will always give one to you. So my sassy tip here for you is that your mindset is the crown you wear every day. Adjust it to sparkle and shine. Think of every mindset shift as another jewel added to your crown. Keep polishing it, queen, because your abundant future is calling and it's looking fabulous. A queen's wealth is her wisdom Queens.

Speaker 1:

Well, you've made it to the end of this episode and you've done some hard work, so you need to give yourself a little hand clap here. And what a journey it's been. Let's recap the royal game plan here You're going to build your emergency fund like the fortress it is here. You're going to build your emergency fund like the fortress it is starting with $1,000 and then growing it from there. Then you want to dive into hacks for your kingdom with practical strategies that stretch your dollar and protect your throne. Then you're going to think beyond the budget by flipping the script on scarcity and leading with abundance. Remember, your kids are watching. They'll preach what you teach. So here's the deal. Don't feel like you have to conquer it all in one day either. Take one step today that your future self will thank you for. Whether it's saving $5, canceling an unused subscription or jotting down an affirmation in your journal, it all adds up Budget like a queen so you can live like royalty. Your financial throne awaits and you've got the wisdom to reign Until next time. Keep shining, keep striving and keep owning your crown.

Speaker 1:

If you're ready to dive deeper into these principles with a group of supported single moms and you live in the Tampa Bay area, I have some exciting opportunities for you. It's a single mom thing class. Join me on Tuesday, january 28th, as we unpack these strategies together. For more information and inspiration, visit shepherdsvillagecom. Forward slash classes, faith and Finances Community Group, starting January 29th and running through April 16th. They meet every Wednesday from 6 to 8 pm for an empowering journey to build both your faith and your financial muscle. Child care is available. For more details email learningtogether2025 at gmailcom. Have a wonderful week and remember it's a single mom thing and not the single thing that stops you. Thanks for listening to. It's a Single Mom Thing. I hope you enjoyed our time together. If you have more questions on how to have a relationship with Jesus or need prayer, visit us at wwwshepherdsvillagecom. Backslash prayer. For more information and resources, check out our show notes.

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Sherry Chandler

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