The number of single mother households is growing and now makes up 24% of all U.S. families. Over 18 million children live with a single mother and 40% live in poverty. Over the past decade, the recession has increased the financial pressures on these families with only 45% of single mothers employed full time with median incomes at a new low of $25,000 a year.
Welfare reform and government budget shortfalls have reduced many of the safety nets that single mothers had access to in the past.
As a result, increasing the financial self sufficiency of single mothers has never been more critical. Economic stability and savings for the future can increase the chances for the children of single mother households to have better educations, better health and an opportunity to positively contribute to society. The cycle of inter-generational poverty can be broken, one single mother at a time.