There are a lot of facets to parenting. Raising up a child to know the difference between right and wrong in a fast-changing world presents one set of challenges.
Providing for your child and making certain they have a good start to life on their own is another set of issues altogether. I'm thankful to have a trusted partner in my wife to help with everything required in parenting.
Single Parenting is Tough
However, I know another side to the story. I grew up firsthand with a single mother and witnessed firsthand how much work it takes to not only invest in your child's ability to make good decisions, but also the necessity to make good decisions financially.
With an ever fluctuating world of financial opportunity and pitfalls, learning these lessons early as a child from their parents or parent can serve as a light post for years to come.
There were times I remember landlords knocking on the door and utilities being shut off. There were times I remember having to move to a new rental or take on roommates to make ends meet. There were times I remember going long periods without a reliable vehicle. But there were never times I remember that my mother didn't work hard or have several jobs going on at once.
I can't imagine how difficult that must have been for her. I also didn't realize until much later what a tightrope we were walking in regard to the possibility of something happening to my mother and not having a defined plan of what would happen to me.
I know she never had a life insurance policy or will in place. Life had a lot of demands and they loudest demands usually received the time and resources. How can you think about protecting the future when you have so much of the present to deal with?
They are Worth the Investment of Time and Money
There's a lot of reasons for single-parenting these days, so whatever situation you find yourself in, whether divorce, loss of spouse or other, it's not too late to plan toward the benefit of your children in the case you're not around.
Maybe you grew up with a single mom and this story rings a bell. Maybe you are a single mom working hard to make ends meet.
Finding room in the budget for a life insurance policy is important. Think of it as a safety net that protects your children now and in the future. Term life insurance policies can be very affordable and even permanent life insurance policies are not outside the reach of a tightened budget.
If you look at your budget and find yourself spending on things that won't offer protection in the case of your absence, re-prioritizing may be in order.
Maybe making ends meet is not so much the issue, but a lack of planning or awareness is. Either way, you'll want to take some steps to safeguard your children.
If your employer is offering a life insurance policy as part of your benefits package, consider taking advantage of the offering.
At Insurance For Texans, we are not strangers to single-parenting. We've been impacted by it one way or another, so we feel confident that we can help guide you to some important, affordable options that will add peace of mind to an already difficult situation.
Let's have a talk about the admittedly uncomfortable topic of what your child's or children's needs would be if you weren't there to provide for them. Email, call, text or drop in if you are in the neighborhood. We'd like to find more about you and your needs and tell you about the great solutions we have as an independent insurance agency.