Helping Single Parents Out with Money

Being a single parent means taking on double the responsibility and this can affect us in all aspects of our lives. Whether you’re juggling weekend activities or balancing household bills, it’s often a struggle to make ends meet.  Money is one of the major concerns for single-parent families, making easy access to flexible funds incredibly beneficial for hard-working single mums and dads.

In this article, we take a closer look at single-parent families in New Zealand and the steps they can take to relieve the financial stress.

 

Helping out Single Mothers with Money

 

Single Parents Are Not Alone, According to Statistics NZ

Studies have shown that there are more than 200,000 single-parent families in New Zealand. Of these families, around 33 per cent have two children or more, with almost a quarter of families raising a child under four. Almost 85 per cent of single-parent families are made of up of single mothers while only a third of single parents with dependent children are working full-time.

These numbers tell us a few things – single-parent families are growing in New Zealand and, more often than not, they will need some extra support.

Luckily, growing numbers also means a growing community for single parents. If you are raising a little one on your own, reaching out to single parent networks and community organisations can go a long way in helping you. They can offer advice and support, or just another adult to talk to.

In the spirit of community, we have compiled some money tips for single mothers and fathers.

 

Apply for Financial Support

Work and Income New Zealand offers support mechanisms to help single-parent families afford the necessities. As a single parent, you may be eligible for the Sole Parent Support benefit, as well as the Job Seeker Support benefit if you are looking for work.

Work and Income New Zealand may also assist you with accommodation costs and extra support in specific circumstances.

 

Manage Your Finances Closely

As any single parent knows, it’s important to keep on top of things. Take this approach with your finances, too. Figure out your net earnings and then apply a realistic budget to your circumstances. Simplify your money situation by looking at what money comes in and where that money goes. This allows you to identify areas where you can cut your spending without having to examine every single receipt.

Always remember to put a little extra aside for emergencies whenever possible and don’t be afraid to make your family the first priority.

 

Payday Loans to Get You through the Week

Only having one income stream is undoubtedly the biggest challenge for single-parent families. If you have a need for extra cash to keep on top of your budget and bills, consider a short-term payday loan.

With loan amounts from $100 to $1000, you can access fast funds for instant financial relief. Unlike long-term personal loans, you won't have the strain of mounting interest and lengthy repayment periods. When you borrow responsibly, a short-term loan can provide what you need and be paid off in a matter of months.

 

Speak to Chequers Finance

At Chequers Finance, we’re here for families when the unexpected happens. We can get you fast, hassle-free access to the cash you need. You can apply online, over the phone or at one of our local offices. We’re here for you when you need us, so give us a call to discuss your options.

Back to News

Being a single parent means taking on double the responsibility and this can affect us in all aspects of our lives. Whether you’re juggling weekend activities or balancing household bills, it’s often a struggle to make ends meet.  Money is one of the major concerns for single-parent families, making easy access to flexible funds incredibly beneficial for hard-working single mums and dads.

In this article, we take a closer look at single-parent families in New Zealand and the steps they can take to relieve the financial stress.

Visit us at any of our branches:

Auckland Rescue Helicopter Trust Corporate Supporter 2013 / 2014

Chequers Finance Hamilton

Caro House
137 Alexandra Street
Hamilton
Phone: 07 838 2939

Chequers Finance Henderson

334 Great North Road
Henderson
Auckland
Phone: 09 836 6201

Chequers Finance Papakura

155 Great South Road
Papakura
Auckland
Phone: 09 299 7883

Chequers Finance Otahuhu

13 Criterion Street
Otahuhu
Auckland
Ph: (09) 276 4384