4/13/2024 0 Comments Sample single person budget![]() ![]() “When you’re young and single, this is the time that you typically have the most flexibility with your budget. Here are several budgeting tips for single women at different stages in life. “I think being in control, even when the budget is limited, creates satisfaction and makes for a happier person.” “I find, in general, that my single clients are very satisfied with their money and budgeting decisions,” Adam said. And women who are suddenly single, whether through divorce or death of a spouse, need to adjust their budgets to their new financial reality. Women may also have more variability in their income throughout their lives, especially if they take time off from paid work while caring for children or aging parents. It can be tougher to reach those savings goals, though, because women typically earn less than men. ![]() For example, there’s a greater need to save for retirement because women live longer than men. Your money decisions can be much simpler.”Īs a single woman, however, you may need to work harder to prepare for some extra expenses. ![]() You can focus very clearly on achieving your personal savings goals, and also on directing your money to what really matters to you. “However, there is also a silver lining to being single, and that is you can focus on what is important to you and there is no need to make compromises. “It’s harder to budget as a single person because you are covering all your expenses on one income,” said Mari Adam, a certified financial planner in Boca Raton, Florida. You don’t have two incomes to help pay your bills, but you’re in total control of what you do with your money. Single people have different budgeting needs than married couples. ![]()
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