Press Release: Rich Single Momma Announces New Personal Finance Social Networking Community for Single Moms

Single Moms Face Holiday Stress and Year-long Financial Hardships: New Social Networking Community Provides Unique Solution

 Atlanta, GA –December 7, 2009 – The number of single moms who must make the choice between buying Christmas presents this year and food for the rest of the month is disproportionately high. With 80% of all single parent households being headed by women (U.S. Census Report, 2006) it seems many children could face a very sad Christmas morning this year. If it weren’t for local and regional programs like Toys for Tots, corporations, and private organizations the day would be gloomy indeed. 

In a recent U.S. Census report, it is estimated that single custodial parents receive an average of $3,350 per year in child support (U.S. Census Report, 2007). In contrast, the average cost of raising a child in a singe parent household averages around $10,500 (USDA Report, 2008). The almost $7,000 difference is felt heavily for the single parent, mostly moms, who face other bills and expenses for additional children especially during the Christmas season.

Single mom Deesha Philyaw of CoParenting101.com has experienced this first hand. She shares her tips on making Christmas fun an affordable. ”Have your child make a wish list and aim to purchase one thing off that list, instead of building the expectation that she will receive a laundry list of items.  In our family, in lieu of lists of what we want, we make a list of gifts we want to give others.  This helps put the focus of the season where I believe it belongs: on giving, rather than getting.   I also encourage homemade gifts which come from the heart and which help us stay in budget.”

Even with these programs, single moms still face the reality that Christmas does not last all year and the charitable help may dwindle. They often face desparate economic hardships the other 364 days of the year.  Talibah Mbonisi of WeParent.com agrees and says, “throughout the year, too many single mothers find themselves having to make difficult trade-offs in an effort to make ends meet while giving their children the best opportunities they can afford.”  

Fortunately new programs, websites, and blogs are springing up to address the problem. It is not enough to throw money at the problem or provide the proverbial fish for a day. Single moms everywhere need to learn how to fish to sustain their families for many years to come.

Samantha Gregory, a single mom and founder of  RichSingleMomma.com, has personally experience the dilemma millions of single moms face each holiday season. She says, “Until recent years, every holiday was extremely stressful because I wanted to give my kids everything. After learning more about personal finance and how to create more earning power through education and better employment I was better prepared for the holidays. I decided to share my experience with other single moms, so RichSingleMomma.com was born.” 

Recently, the Rich Single Momma Blog has evolved into a social network, to further meet the needs of single moms who want to learn how to fish. It is an interactive community for single moms wanting a hand up and not a hand out.

With the tag line “The Single Mom Economic Empowerment Network”, solo moms have a place to learn financial literacy, financial goal setting, action task creation, and implementation to create independent wealth. Through this site, single moms can begin to feel a sense of empowerment. They will gradually reduce the frustrating dependence on child support and their lives will be less stressful.

The holiday season may hold stress and hardship because of limited funds, but the New Year can hold new promise for the single mom who is determined to create a different future.

For more information or to join the network visit http://community.richsinglemomma.com.

Contact:
Samantha Gregory
Founder/CEO, RichSingleMomma.com
5145 N. Somerset Ln
Alpharetta, GA 30004
256-417-0466

Keywords: single mom, economic hardship, financial literacy, Christmas charities, child support, U.S. Census