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Imagine being a solo mom living on $26,000/year.
With children to take care of and no spousal support, this reality is unimaginable for most of us. But for the solo moms making it work, they have solutions worth sharing. Providing this tribe with an infrastructure to share their insights is especially necessary in political times like today, when threats loom of cutting off their government support.
Today, on the $mart Women Invest podcast, we are joined by Marika Lindholm, Ph.D. As the founder of ESME (Empowering Solo Moms Everywhere,) she has dedicated her life to supporting solo moms. Through the website, solo moms are empowered to write, talk about, and share their stories, pains, and solutions to the challenge of being a solo mom.
Tune in to hear Dr. Lindholm’s story and join the conversation around empowering us women to own our careers.
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Points to Keep In Mind
- Trump’s tax plan would eliminate:
- Head-of-household tax filing status, so single moms would have to file as an individual
- City-dwellers’ deduction for state and city taxes
- Personal independent exemptions, and replacing as a standard exemption
- Talk to your advisor and CPA to stay on top of how the new tax laws impact you
- Use the term ‘solo mom’ instead of ‘single mom’ to avoid the stigma
- Solo moms are typically a strong, independent group that feels they don’t need help
- Studies show it’s harder for women to raise capital when seeking investors
- The ‘feminization of poverty’ is a sociological term for the financial inequality across all domains of our society
- Most solo moms make around $26,000/year, and are 1 sick kid away from disaster
- ESME allows for the tribe of moms to take care of each other through online chat
- Sharing ideas (potlucks, clothing swaps, etc.) on how to live well with little money
- Even in times of extreme hardship, self-care is very important; there is a limit to self-sacrifice
- If you’re a brand looking to sponsor a non profit, seek out ESME on esme.com