5 Facts To Know About Single Mothers

Good morning Women Supporting Women,

Happy Monday to you all.  I hope you had a beautiful weekend.  My weekend was absolutely wonderful.  Not only did my son come home to visit, my bonus daughter AND my Godson graduated from college this weekend.  Needless to say, I am so happy and excited, as these two young adults branch off into their new endeavors.  In addition to this, I had the opportunity to partner up with a school in Harlem for their multicultural event.  It was nice to see all cultures bonding for a common cause.  Events like this fill my heart with hope for the future.

Recap

Last week, we discussed 5 things a single mother should know.  This week, will be part 2 which is 5 Facts every women should know.  The more knowledge we have as women, the more we can position ourselves as a resource.

1. Demographics. Half of the nation’s single mothers never married, nearly one third are divorced, and less than one-quarter are separated or widowed. Half of all single mothers have one child, and 30% have two children.(1) 

2. Income. Women earn about $0.79 for every dollar their male counterparts make. The income gap is worse for African American and Hispanic women, who earn $0.64 and $0.56, respectively.(4) The median household income for families led by a single mother was about $35,400 in 2016, well below the $85,300 median for married couples.(2) 

3. Motherhood penalty. Moms returning to the workforce may encounter a “motherhood penalty.” Dads often receive greater pay after having a child— dubbed the “fatherhood bonus.” Further, studies indicate that employers favor hiring women with no children, and that salary offers extended to mothers are lower, compared to other women.(3) 

4. Poverty. While the poverty rate among children living in a two-parent household was 12% in 2016, nearly 40% of children living with a single mother are considered poor. Children living in a household headed by a single Native American mother fared worse, at 43%. Among Hispanics, African Americans, Caucasians, and Asians, the numbers were 41%, 39%, 30%, and 30%, respectively.(4)

5. Child support. Only 40% of custodial parents report receiving the full child support payments awarded to them. Mothers averaged $5,181 in annual child support payments, while fathers averaged $6,562, according to 2013 data.(5)

There is nothing more empowering than ensuring a bright financial future for yourself and your family.  Making adjustments and knowing the facts, can prepare you for a life of success.

Next Up in the what women should know series: “5 Things Every Divorced Woman Should Know”

Data collected from:

1. U.S. Census Bureau, “One-Parent Unmarried Family Groups with Own Children Under 18,” 2016.

2. National Women’s Law Center, “National Snapshot: Poverty Among Women and Families,” 2016.

3. AAUW, “The Simple Truth About the Gender Pay Gap,” Spring 2017.

4. U.S. Census Bureau, “Table 8C—Poverty Status, Food Stamp Receipt, and Public Assistance for Children Under 18 Years by Selected Characteristics,” 2016.

5. Congressional Research Service, “Child Support: An Overview of Census Bureau Data on Recipients,” March 1, 2016.

As always, if you have any additional questions, please post here or email me at: thefinancialcomforter@gmail.com

Have a beautiful and blessed week!

Marsha

Changing the lives in our community….one family at a time

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