Single Parenthood is defined as one or more children dependent on one parent. Cause of
single-parent family structure may be that the other parent could have passed away, been divorced, or abandoned the family. Today we see all sorts of single parent families, headedby mothers or fathers or by a grandparent raising their grandchildren.
Life in a single parent household is quite stressful for the adult and the children. Singleparents have loads of responsibilities. Not only do they act as the sole provider of care an demotional support, but they may also be the only financial provider for their children. Singleparent needs to multitask all the time to create a balance that meets both the emotionaland financial needs for
Unforeseen events like losing a job or becoming ill or death or incapacitation can be
morecatastrophic for the dependants. The ultimate goal of any single parent is to
achievefinancial peace of mind that ensures a solid financial future for their children.
Personal Financial Management has its own priorities. This can range from securing and
safeguarding the inheritance/settlements to identifying and appointing legal guardians for your minor children to writing wills to managing liabilities to redeploying money based on yourgoals.
As a single parent, you know how difficult it can be to stay on top of everything. You also know by now that it is important to speak with a professional who can guide you through all your money matters.