WebThe single parent debt trap 4 These budgeting challenges are often exacerbated by fluctuations in income driven by factors such as month to month changes in Universal … The single parent debt trap A challenging combination of poverty, income insecurity and ‘lumpy’ expenses: 82% of single parents in problem debt cited “not enough income to meet living costs” as a reason for using credit – single parents were also unable to work their way out of poverty and debt. See more Single parents disproportionately experience problem debt: prior to the COVID-19 outbreak, 13% of single parents were in severe problem debt. This compares to 5% of … See more The negative impacts of problem debt on single parents are serious and wide-reaching. For example: 1. 66% of single parents had to cut back on food for themselves as a result of making debt repayments. 2. 20% of … See more The research found that single parents are exposed to a high number of risk factors and potential triggers for problem debt. The majority (85%) of single parents struggling with problem debt cite more than one cause that … See more Problem debt is not an inevitable part of the experience of being a single parent. Debt of this sort is driven primarily by linked issues of poverty and low financial resilience. Action in … See more
The Parent Loan Trap - chronicle.com
Web• For single women, the drop in income associated with having a young child is $16,610, after controlling for other factors. Since single women have significantly lower incomes, … WebThe single parent debt trap. 4. Single parents disproportionately experience problem debt: prior to the . COVID-19 outbreak, 13% of single parents were in severe problem debt. This … blackbird supply company
The single parent debt trap Gingerbread
WebAnn Twiselton, 77, forfeits 15 percent of her income from Social Security to pay off family cosigned student loans. Due to a relative's education debt, Ann Twiselton, 77, won't be quitting work anytime soon. That's because several years ago the widow from Spring Hill, Tenn., cosigned student loans for a granddaughter pursuing a master's degree. WebJan 25, 2024 · Divorced since 2016, Smith is a single parent whose 15-year-old son lives with her most days of the week. Her earnings are below King County’s median household income, which soared 36 percent... WebInterim findings from Gingerbread's Caring Without Sharing research report reveals the unique challenges for working single parents created by the COVID-19 Crisis that the government needs to address. blackbird supply co