What happens next?

How to save money as a single parent
Put aside any money you receive in child support or alimony.
Unless you need those funds to meet your regular expenses, keep that money in a separate savings account.
Invest in retirement.

Select from:
a). Your social security will protect you against the costs associated with being single (and taxes) by saving it from the source (your parents and/or guardians). With federal law, retirement accounts are more affordable and do not require as much tax as alimony, but they do require guidelines.;
b). If you know how to use retirement savings to pay for your child, then set aside an extra $5 , 000 every month. You need this money to cover all costs of getting a job and preparing for your child's first year of college.;
c). Take advantage of any 401 k or retirement plans your employer offers. This money will be taken out of your paycheck before you have a chance to miss it.;
d). You could also use your savings in an individual retirement account (401 (k) ). This ira would reduce your monthly spending to $120 , 000 (113.6 c) and up to $38 , 000 (355 l) annually.;
c).