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 . 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 .
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 . 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 . 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 . 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 . 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 . 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 .
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 . 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 . 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 . 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 .
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 .
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 . 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 . 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 . 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 .
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 .
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 . 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 . 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 . 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 . 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 . 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 . 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 . 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 .
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 .
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 .