Have you heard? More than half of American mothers under age 30 are unmarried when their children are born.
The New York Times reports that while the majority of mothers across all age groups are married, young mothers are overwhelmingly single.
There are a number of reasons for the shift, but one thing remains clear: All moms, whether single or not, should take control of their money. And LeranVest can help you do that.
Why So Many Single Mothers?
Before we get to what we can do, a little background: The majority of these single mothers are white women in their twenties with some college education but no four-year degree. The Times spoke with single mothers from Lorain, Ohio, a town where major employers such as steel mills and factories closed as a byproduct of the recession. Those quoted found that their children’s fathers were as financially dependent on their partners as another child would be, and that they believe that marriage is a luxury, a “sign of having arrived rather than a way to get there.”
Whether or not that is true, one of the reasons these women give for declining to marry is that they don’t need their partners for financial reasons. In fact, it’s easier to do without them.
How Can We Help?
For our purposes, the only difference between a single mom and a married mom is that one has to take control of her money and one should.
And if you would like to hear more about life as a single mother in today’s world, meet Christina, a mom-to-be in the process of an awesome LearnVest financial makeover.
Motherhood may be hard, but money doesn’t have to be.