How Broke Single Moms Are Creating Building Wealth!

You’ve heard it before: Millennials are not saving for retirement. But what about single moms? I recently read an article that highlighted how this group is shaking up the traditional financial paradigm, instead, they’re focusing on creating generational wealth for their families.

In fact, when you look at the data, it’s clear that single moms have a lot to teach the rest of us when it comes to managing money and achieving economic security. Here are some of the key takeaways from this powerful group that can help all of us build our own financial future:

1: Financial literacy matters more than ever before

2: Be intentional with your money

3: Don’t be afraid to ask for help

1. Why am I always broke?

You’re not making enough money

To get started, you need to make sure that you are earning enough money to support yourself and your children. If you do not have a job, then it will be difficult to earn any additional income. However, if you do have a job and are still struggling financially then there is likely something else going on that needs to be addressed before we can start talking about how single moms can create generational wealth.

Stop spending too much money

If the problem isn’t that you aren’t making enough money then more than likely it is due to how much money you are spending each month. There are two ways this can happen: either by spending too much on things that aren’t necessary or by having too many expenses in general (including rent/mortgage payments).

2. How I can create generational wealth as a single mom

If you’re a single mom and want to create generational wealth, the good news is that it’s possible. The first thing you need to do is find a life insurance broker like myself. Life insurance is an excellent tool for building generational wealth because it gives your family financial security in the case of your death, plus you also having living benefits where you can pull money form your policy to buy a house, start a business and whatever else you want to do with it.

Once you’ve found a life insurance broker, get a budgeting app that helps keep track of all the money coming into and going out of your bank account each month. This will allow you to see where all of your money is going at any given time, so that if something goes wrong—like an unexpected expense comes up—you’ll be able to plan ahead so that everything else stays on track without having anything go awry.

Next step: starting a side business! Side businesses are great because not only do they give us more income but they also help us learn new skills or develop existing ones while making sure we have enough time left over each month at home with our children (or whatever else we have planned). For example: some moms might start making crafts out of reclaimed wood while others could sell homemade baked goods online through Etsy or eBay; maybe another mother would publish her own book about raising children without men around…the possibilities are endless! In any case though here are some tips for choosing which type will work best for anyone who might consider doing something like this: 1) Find out what kind of product or service fits best within their skill set 2) Research competitors’ rates 3) Research how much overhead costs there may be 4) Research how much demand exists in terms (of sales volume).

CLICK THE IMAGE BELOW TO LEARN THE TOP REASONS WHY MOST PEOPLE GO BROKE, DEPRESSED & HOMELESS!

3. How can I stop being broke as a single mom?

The first step to getting out of debt is to stop spending.

The second step is having the right insurance policy with living benefits so you can have access to cash down the road.

Finally, you can start making more money so that you can pay off your debt and build wealth for yourself and your family.

Conclusion

So if you’re a single mom, remember that you don’t have to be stuck in the same financial rut as your parents were. You just need to get a handle on how you spend money so that it goes towards things that increase your value as a parent rather than just eating up cash. Keep an eye on your bills and make sure they reflect your current income level by being no higher than what would be reasonable for others with jobs similar to yours. Then take control over where else those funds go: instead of buying more clothes or other expensive items when there are ones already around at home, give yourself permission to splurge on experiences like travel or concerts—things which can help keep kids happy while also teaching them valuable lessons about life!

If you found this article valuable then I know you’re going to enjoy my other articles below, just click the link and you’re all set.

Go ahead & click the image above to schedule your FREE life insurance consultation today.

SHARE THIS POST WITH YOUR FRIENDS TO HELP THEM CREATE GENERATIONAL WEALTH

AUTHOR: ALTON

I moved from the Caribbean to Florida a few years ago and I had big goals, but it was all just a dream for the first few months. Within 90 days of moving to America, I was in downtown Orlando, Florida begging for $1 on the street when I went broke with a wife & son to take care of. I was forced to give up my apartment and sleep on my family members’ floor for months. I was flat-out ashamed of myself, as I’m supposed to be a man who provides & takes care of his family.

That experience made me cry out of desperation BUT it forced me into a corner that made me look in the mirror to make a change in my life, and that is what I did. I learned all I could about life insurance, money & entrepreneurship and within a few months, I applied the knowledge and became a life insurance broker, entrepreneur & blogger who helped change the lives of thousands of clients in America, and as a result, I was featured on FOX, CBS & NBC.