Being Able To Afford Life Insurance As A Single Parent
Being a single parent comes with many challenges. Among them is keeping on top of all the bills. When times get tough, it’s easy to cut out expenses that seem unnecessary. Your heirs will only make a claim on your life insurance one time, but it’s more valuable than your Netflix subscription.
You might feel like you cannot afford life insurance because you’re living paycheck to paycheck. Take a minute to consider that it might not need to be this way. Start to budget your money. You might be overspending on extras before you get to the rent, food, and utilities.
Maybe your budget is as tight as it can get. Do you still have too much month at the end of your money? If so, here are some tips to help you save and earn a bit more each month:
Brown Bag Your Lunches
Making your own lunch is not only cheaper, but it’s also healthier than the fast food options that are tempting on busy days. Do a big meal prep on Sunday night and you’ll be all set for the week. Or put leftovers into small containers and take them for your next few days’ lunches. The same goes for coffees, teas, and fancy smoothies. With some work, you can make good alternatives at home or in the break room.
Earn some extra money to put towards your life insurance by babysitting for friends on nights and weekends. You can do this from the comfort of home and your own kids will enjoy having some playtime with other kids.
Put Your Car Work
Assuming your child goes to stay with their other parent, or the grandparents will watch them free of charge, get behind the wheel and drive for Uber or deliver pizzas. You won’t earn hundreds of dollars each night. But over the course of the month, you can net a few hundred dollars — which more than covers your life insurance premiums.
Rent Out Extra Bedroom
This isn’t for everyone, and only works for homeowners. Maybe your best friend is moving back to the area after years away and needs housing for a few months until she gets settled in. Or a sibling needs to lower their housing costs. So long as the renter is a trusted person and the move out date is set in a contract, this arrangement could bring in several hundred dollars a month.
Shopping around for life insurance rates is another way you can save big.
Not all policies are equal. Contact us today to find the right one for you.