I am a single parent with one child and I’m proud to say I’m no longer struggling to make ends meet. I used to live with my parents but come 2008, I decided to leave my parents’ house and strove to stand on my own two feet.
Living independently is a bit hard because I have the obligations of a dual income family. So I bought personal finance books (I have 10 now) and taught myself to become smarter financially.
The child support is being remitted monthly but I know I have to put my resources in good use. So I have Sun Flexilink and Sun Education Plus for my daughter’s college fund. I think I am adequately covered in terms of life insurance, disability insurance, and crisis cover. These are all VUL products in different companies.
I have emergency savings but I know I need more so I’m continuously saving on it. I am also trying to build wealth thru another vul product.
On top of all this, I try to be healthy by exercising and eating the right kind of food. After all, health is wealth.
I encourage all single parents to think and act as if the child support is not there because believe it or not, it helps in making smarter financial decisions.
