Many parents strive to provide their children with things they themselves did not have growing up, and for a single parent with one income this could be extra challenging. Sometimes, to the detriment of their financial situation, a parent will do whatever he or she needs to do (including going into debt) to provide those “things”; that new toy, pair of tennis shoes, expensive birthday parties etc. Before they know it, they are depending on various types of credit, or even retirement funds to acquire these “things”. It is not until thousands of dollars later, they find themselves deep in debt, on the brink of financial ruin. It doesn’t matter if you are a one- or two-income household the results are the same if you are not using sound financial principles.

When making purchases it is impor

See Full Page