best advice for 23 yr old single mom?

"what else can i do to benefit myself and my son"

Go after the father for child support and before you give the "I don't want to be involved with him' it is not your right not to go after what "your child" is entitled to.

Without any particulars a rather broad question. I view the term single as being with out support from anyone including family so I'll assume you live a distance from any relatives that can be of any help. That said with a 3 year old son you may want to consider some type of life insurance held in trust for your son. If you do not currently own a home with falling markets and lower interest rates you may want to consider buying a house with a basement suite. With all the talk of foreclosures you may be able to have a pretty good pool of newly created tenants that may, if you select the right ones, you can offer a deal of reduced rent in exchange for baby sitting services. That way you get help with your mortgage and help with the little one. I know I know some may think its taking advantage of some family's financial problems but I see it as a win/win. Also you may want to consider continuing to upgrade your education/skills through correspondence or evening classes (that's where those sitters could come in handy ;) your employer may even help cover some of your costs and your lifetime earnings will also increase.

You're going in the right direction by pro actively seeking a better life for you and your son this early.

I'm going to link some recommend economic strategies for younger people like us about investing for tomorrow and saving even on a shoe-string budget. The important thing is building a portfolio.

It's not anything fancy, a lot of people think a portfolio is a briefcase with stocks in it that lawyers and execs carry around. Really what it means is securing your wealth, having a real plan about how it's growing and making your money work for you.

If you want equity, like a house, a car, a jet. . . it's all part of that portfolio. Gold, stocks, your child's education, also part of the big picture that you're building for.

Make sure you're making contributions to a retirement fund, either a 401k, ROTH or an IRA; something that'll bolster Social Security and build some real equity over time. Many employers will even match your donations, so find out what they have at your work to do so.

The next thing you want to make sure you're doing is taking care of that credit. . . it may be important when you're ready for a house or you want to start your own business. As long as you have steady income coming in, keep everything paid up and paid on time. It'll keep your stress down, (and I'm sure you have enough of that as is).

Finally, set your goals that allow you to live life in a way that's positive for you and your child. Money is a means to an end, never think of it as the goal. Too many people chase after dollars that they're just going to throw away, while throwing away years of their family's life.

Money is just a tool, like a kitchen knife, wrench or screwdriver. When used properly, it helps you through life and makes your world easier. When used improperly, it can be foolish, dangerous and/or simply lost.

The key is to use your tools, whatever they are to work smarter, not harder. Luckily, with a steady stream of income, you'll want to actively discover ways to make your money work for you.

Even something as little as $20 a month can end up being a huge boon to you and your child's future.

seems like you're on a good track! if you're interested in making more money while doing what you're already doing. contact me for more information at chelsshaw@yahoo.com. I recently started my own business with the company Market America. The company was started in 1992 and has a proven business plan of working 8-10 hrs per week for 2-3 years to build up to a 6 figure income. This business creates residual income which will definitely benefit you and your son. If you want more information I'd be happy to help.

chelsshaw@yahoo.com

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not much else, other than save every penny you earn.

You may consider mutual funds if this is for long run, but I don't know enough about "college funds" to say whether they are better.

It's admirable you're able and willing to invest in the child's future. But let's hope you've at least learned that having a child is no game, so don't get another child, or another pet unless you're SURE you can afford it.

I recommend you clear the debts. The car debt has got to go, so that's your first priority. Then, you can start saving a cash asset which you can invest. When the time comes, you can use that saved cash as a house deposit and get ahead.

I think you should go to your local library and get out a few books on personal finance. They'll help you work out what investments you're interested in. But mainly you need to clear out debt, and save.

Congratulations on being so proactive about your finances.

Best wishes

Concerning the childcare assistance, the boss will fill out a paper that asks how many hours a week you will be averaging. You can get the assistance the day that you fund out you have a job. My sister has used childcare assistance many times. When she was hired on, the childcare assistance program would send a paper to the place of employment either by fax or with my sister when she would go in to fill out her tax papers and other prehire information and that paper would tell how many hours a week she was supposed to be working as well as her wages. she never had any issues with childcare assistance, it started the day that she started her job.

seems like you have it together already. most 23 year olds aren't thinking about the future. but what i regret most is not opening a 401k sooner. i am in my 40,s and now i am trying to get it together. don't be like me and regret something you could have done earlier in your life. you have a chance at being a millionaire if you talk to an adviser for a 401k.

Now is the time, buy a house, they are plenty of good deals, and you can buy now, keep it for a couple of yrs and when the market becames hot again, sell it and make some good profit.

Good luck

To benefit yourself and your son, you can do online surveys, cash offers, and paid emails. They're free to join, and you can do everything on your own time.

If you're interested email me at iutennis@hotmail.com or check out my website:

http://freewebs.com/iutennis