Be wary of loans

The financial status is likely to have a big fluctuation since you might be depended on your better half’s income. Thus in a critical state you might be thinking about taking a money loan. In such situations you should be thinking twice.

The money you are lending might cause a life time credit which never ends. Thus lending some financial help from close relatives or friends who can be refunded without pressure will be a better idea for single moms. With a particular amount being reduced from the salary for the loan, meeting the household will be more difficult. 

Take a life cover

Insurances are always life savior ideas. Your spouse might have an insurance policy through which you got benefited at least for some extent. Now as you are the care taker of the family so you should be having an insurance plan which covers a good total which can secure the future of your children.

The yearly cover at a minimum cost can provide up to 50 lakh. A medical policy is also important in order to save your money from medical expenses. When you choose a cover ensure that it can cover all your needs.

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