While a single parent with one child can manage on just over $45,000 a year in Alabama, for example, it takes at least $62,000 a year to make ends meet in California. If the family has two children, those numbers rise to $56,000 and $74,922, respectively.
The rates from 1 April 2023 are: £423.46 a week for couples (with or without children). £423.46 a week for single parents whose children live with them. £283.71 a week for single adults who don't have children, or whose children don't live with them.
Setting a budget that keeps expenses lower than your income—and sticking to it—is a key step to financial security. Dedicate a part of your budget to debt payment, and pay whatever you can afford each month to bring down your balances. Prioritize high-interest debt.
There are government assistance programs available for single mothers. This resource guide will provide you with information on applying for government assistance programs designed to help you and your family.
As of Jan 5, 2025, the average hourly pay for a Mothers in California is $17.14 an hour. While ZipRecruiter is seeing salaries as high as $19.22 and as low as $11.15, the majority of Mothers salaries currently range between $15.91 (25th percentile) to $18.27 (75th percentile) in California.
Among other side gigs available to single moms are pet sitting, tutoring, blogging, or renting spare space. Just choose the one that suits you in terms of time and skills you have. Sometimes spending just a few hours a day on a side hustle can change your financial situation for the better.
Like other low income people (single or not), a single parent would be eligible for food stamps of about $281 per month, per person, and *temporary* cash assistance of about $250 per month, per person. Cash assistance is usually paid for a period of 3 months to 24 months, depending on the state.
The money covers a single person's basic expenses like housing in a studio apartment, food, health care and transportation, based on estimates from the nonprofit Economic Policy Institute's Living Wage Family Budget calculator. A $25 per hour wage works out to $52,000 per year, based on a 40-hour work week.
Connecticut is one of the best states to live in for single moms. The state has a high median income, high employment rate and low cost of living. Connecticut also has a high rate of child care assistance, which can be helpful when trying to save money on daycare costs for your children.
“Most of us can't do the math in our heads. If we could, we'd realize that $15 an hour amounts to only $31,200 a year, assuming full-time work—about half of the U.S. median income and a painfully small amount for living and raising children in most American cities.” It can be painfully small outside of cities, too.
Single moms also often find it difficult to work long hours, since they must also care for their children. In a recent focus group, single moms agreed that their two most pressing challenges are earning enough money to support their families and having enough time to spend with their children.
For one child, no assistance, no child support, in school full time. To live comfortably, in a nice place, with enough for savings and a couple streaming services and regular doctor bills, at least $3500 per month take home. $1200 for a 2 bed apt. Another $800 for utilities, internet, transportation costs.
One of the biggest challenges of being a single parent is financial instability. Raising a child is expensive, from paying for childcare to buying food and clothing. Doing it alone makes the costs seem overwhelming at times. Unexpected medical bills or car repairs can wipe out savings quickly.
Single mothers' median annual income is $17,000 less than single fathers: 75 percent of single mothers are working and most are working full time. In 2022, those working full time had a median annual income of $40,000, whereas single fathers had a median income of $57,000 per year.
The $2,000 Supermom Scholarship is designed to help single mothers and those who have been directly impacted by one, on their path to obtaining a college degree. We realize that having a college degree can open many doors for mothers and their children and we want to do everything in our power to help.
Single mothers may qualify for other public assistance programs that provide support. Besides TANF, other types of government programs such as nutrition, shelter, and public health insurance can help low-income single mothers.
If you're a single mom filing your taxes, make use of tax credits and deductions that can help reduce your taxable income and reduce the amount of tax you pay. A number of strategies, credits and deductions can be used to reduce taxable income, and in some cases, allow tax refunds even if you didn't pay in any taxes.