Parenting solo requires you to keep track of so much: Bills need attention, dinners have to happen, kids need rides and school events pop up. Any opportunity to sit down and check in on your finances feels like a luxury — but it doesn’t have to be a once-in-a-while thing. This short routine is perfect for single parents looking to get a better grip on their finances. (And it’s simple enough to do every week!)
Why you need a routine
Ever heard the saying, “Out of sight, out of mind?” When you’re as busy as you are, things can fall through the cracks. And when it comes to money, the stuff that gets lost now can become a massive headache later. Sticking to a regular check-in is the best way to defend against that risk. And when something does happen, these small steps lower late fees, cut last-minute takeout and prevent rushed drives. And that all adds up to less stress and fewer costly surprises.
The 45-minute money check-in
Can’t find a complete 45-minute stretch? You can split this routine into three 15-minute blocks.
Account check, 15 minutes
Open your main account and look at the current balance. Check the next due date for a fixed bill. If a bill is due before your next payday, schedule the payment now so you do not forget. If you can, move $10 to $20 into a small buffer account. This gives you a little room if a small charge posts early.
Four-dinner plan, 15 minutes
Your future self will thank you big-time for this one. Pick four simple dinners for the school week. Choose meals that share ingredients: A pot of rice can support bowls one night and stir fry another. If you have a few minutes later today, do some prep — like cutting veggies — you know you’ll need later. Write the plan on a fridge note so you can see it.
Rides and calendar, 15 minutes
Grab your school’s calendar and check for after-school activities, athletic events, early release or parent-teacher conferences. Then, confirm carpools or pickups, and check the distances of unfamiliar destinations. These steps help you keep your head on straight during the week, and prevent any expensive surprises.
Flag Your “Surge Weeks” Early
Some weeks are much, much busier than others. Your check in can help you see when one of those crazy weeks is on the horizon, and help you budget your money — and time — to get through. Look for ways you can start setting yourself up for success now: budget a little extra for takeout, or cancel an unnecessary task. These proactive moves will help you preserve your energy, so you can show up when it matters most.
Build micro-funds
Also called sinking funds, these are pockets of reserved cash for the little costs that add up. You don’t need to put a ton of money in all at once — maybe $5-$10 a week for each — but they come in handy when you need them. And they’re totally customizable to your life. Here are a few examples:
- Field trip spending and lunch money
- Birthday party and gift fund
- Takeout fund for when you can’t muster the energy to make dinner
Use bank sub-accounts if your bank offers them, or simple cash envelopes. Labels make it clear what the money is for, which helps you keep the plan.
Keep it kind, keep it repeatable
Like budgets, routines only work if you stick to them. So avoid the temptation to add extra steps, or to lump in your more time-intensive managerial tasks during this time. Miss a Sunday? Next week is a great time to start again, and you can always do a mid-week diagnostic to prep for what you need to cover on Sunday. You’ve got this, and your routine will make every subsequent week simpler.