Planning an ideal self and finding advisers and friends who can help is key to a stable future.
Single parents face unique financial challenges and money management issues that can impact their ability to provide for themselves and their children.—Limited income: Less income makes it difficult to cover basic expenses like housing, food and childcare. Get creative and resourceful and find ways to increase income or reduce expenses.
—Debt: Limited income and higher expenses often amount to debt. Prioritize paying down debt and develop a plan to manage debt effectively. Single parents face a host of issues when it comes to money management. They most often need to be proactive and creative in finding ways to manage their finances effectively, such as seeking out resources and support from community organizations, creating a budget and developing a long-term financial plan.
Through his well-established Intentional Change Theory, organizational theorist Richard Boyatzis offers five steps, when used together, that can help lead to successful change:— a learning agenda and/or plan to determine how you move from real self to ideal self— supportive relationships that allow the person undertaking change to experience and process their discoveries during the change journey
In other words, it’s tough to think about a desired future with any great detail or belief when one is struggling. And this is the very thing that needs great attention before developing a plan. If the vision is not something that is crystal clear and exciting to the single parent, the motivation for working on the plan will grow weak in challenging moments.
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