Black Mothers – The Financial Struggle.

Black Mothers – The Financial Struggle.


Being a single mother can be difficult, trying to make ends meet only affording rent, your car note, groceries and daycare; this is a problem for many black single mothers . Many believe they only need to worry about the now when they need to build for the future.


For many single family homes having to borrow off their 401k or asking friends or family for help is an issue. I have noticed a women never has money but when her man needs money she will make a way for money to appear. Women will make sipping wine and gossiping with their girls about  their relationship issues and sex a priority.  I myself am guilty of all the above, thinking I would be ok as long as I have 5 friends who would let me borrow $20 when needed. Worrying about on how to fix their credit is not on the top of the list as it should be.

The 2013 US Census Bureau
reported 11 million black Americans live below poverty level and 43.5% were household headed by single black mothers.

M & M
(Men and Materialism)are a main factor in holding black mothers down today, however, here are some tips that can help the financially distressed.


Setting Goals – Think, what is it that you want for you and your family?
Set short, medium and long term goals.
For example: If you know you want your kids to go to college, you have to set the goal for putting away a reasonable but realistic amount of money each week from your paycheck.


Budget – Budging gives you a framework, helps you separate your needs from your wants. Review what you can cut back on and use that money for a bill or put toward your “Don’t Touch” emergency stash.


Life Insurance –  I was raised to make sure I had life insurance policy. This will help your children just in case you pass away unexpectedly.  Life Insurance will preserve money and property.


Get or Fix Your Credit History – When you don’t pay the minimum due on whatever bills you have credit bureaus are notified and it will go on your credit report and will affect your future in getting credit cards and other loans.  Make sure you pay your debts and call the companies as well to see if they can work with you.


School – Going back to school part time is a great idea, it can lead to a better future/career for you and your family. Setting a good example is great for the kids to see.


Find Support – If you still have difficulty making ends meet , look for classes or seminars on the topic or look for local accredited credit counselors affiliated with the National Federation of credit counseling. Getting counseling will help budget and pay down credit.


As a helpful reminder single mother’s need to remember it is not about them anymore.  You have to build for the future of your children because when you have they can have. Having bad credit can limit things you can do with your kids. Financial freedom means your kids are not limited to what you can do for them.

Leave a Comment