Managing finances as a single parent on a low income can be challenging. However, I can swear to you that it's not impossible. I know this firsthand as a single mom who recently paid off her first credit card with a $750 limit in just a few months.

In this blog post, I'll share my journey and the strategies I used to achieve this financial milestone.

Setting the Stage

As a single mom, I understand the importance of being financially responsible, especially when it comes to managing debt. When I received my first credit card with a modest limit of $750, I knew I had to tread carefully to avoid falling into the trap of accumulating debt.

Creating a Budget

The first step I took was to create a realistic budget that accounted for all of my expenses, including rent, utilities, groceries, childcare, and other necessities. I meticulously tracked my income and expenses to ensure that every dollar was accounted for.

Cutting Expenses:

Living on a tight budget meant making sacrifices. I had to cut back on non-essential expenses such as dining out, entertainment, and impulse purchases. Instead, I prioritized spending on necessities and looked for ways to save money wherever possible, such as buying generic brands, shopping sales at local grocery stores, and paying attention to the number of times I needed an Uber or Lyft and the costs.

Increasing Income

While working a full-time job, I also explored opportunities to increase my income. This included taking on freelance work, increasing my reach with my blog, and participating in surveys or working with other brands to create their mission statements. Every additional dollar earned went straight towards paying off my credit card debt.

Creating a Debt Repayment Plan

With my budget in place and my income maximized, I devised a debt repayment plan to tackle my credit card balance. I prioritized paying more than the minimum payment each month to chip away at the principal balance faster.

I also paid more than once a month towards my credit card. I also utilized the debt snowball method, focusing on paying off the smallest balance first while making minimum payments on other debts.

Staying Motivated

Paying off debt requires discipline and perseverance, especially when living on a low income. To stay motivated, I celebrated small victories along the way, such as reaching milestones or paying off a certain percentage of my debt. I also reminded myself of the financial freedom and peace of mind that would come with being debt-free.

Seeking Support

Managing finances as a single parent can feel overwhelming at times. I did a lot of journaling. I also had a conversation with a personal banker about my goals for my credit this year.

Whether it was sharing money-saving tips, venting frustrations, or celebrating successes, having a support system made the journey more manageable.

Celebrating Success

After months of hard work and dedication, I finally made the last payment on my credit card balance. It was a moment of triumph and relief, knowing that I had overcome the challenge of paying off debt while living on a low income as a single mom.

I have decided to keep my line of credit open and continue using the card as I work towards getting a new card.


Paying off my first credit card debt of $750 on a low income as a single mom was no easy feat, but it was achievable with careful planning, budgeting, and determination. By creating a budget, cutting expenses, increasing income, and staying motivated, I can achieve financial freedom and set myself toward a brighter future. If I can do it, so can you. Remember, with perseverance and the right strategies, you can conquer your financial goals, no matter your circumstances.

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