ATLANTA — Economists predict, in an economy where interest rates are holding steady, that we could be headed for an economic slowdown.
Economists say that could make life more difficult for one group in particular, single parents.
Around 70 percent of single mothers in metro Atlanta live below the poverty line; however, there is a non-profit that is trying to help those parents.
H.O.P.E. Inc. partners with colleges in the metro area to help single parent students.
“They offer the $400 assistance for my mortgage,” said Nikki Blount, a single mother and HOPE participant. “They also give the $250 for my groceries. It is a Kroger card, and they also give the $100 gas card for QT, and they do that quarterly.”
[DOWNLOAD: Free WSB-TV News app for alerts as news breaks]
The non-profit works primarily with parents who make around $30,000 or less and are typically the first in their family to go to college. They help the parents with daily expenses, so the parents can focus on finishing their degrees to secure higher paying jobs.
“What we’re doing is actually helping single parents manage inflation right now,” said Kenita Smith, the founder, and CEO of H.O.P.E. Inc.
Smith said they also offer services like budget and investment coaching. The organization has helped 126 single parents since 2011, and that includes raising their income by more than $40,000 post completion of the program.
“There is so much more that our single parents get out of our program that help with these raised prices and with all of the things that they have to face that make being in this economy very challenging,” Smith said.
TRENDING STORIES:
- Man accused of killing Cobb mother, dumping her in the woods was in the U.S. illegally, ICE says
- Do you know who these men are? Police say they are suspects wanted in a DeKalb County murder
- 18-year-old killed in metro Atlanta park while celebrating Senior Skip Day, deputies say
Economists say having a good grasp on finances will be important with looming tariffs and the Federal Reserve’s decision this week to not raise interest rates which could signal an economic slowdown.
“Single parents have considerably less flexibility,” said Dr. Tom Smith, a finance professor at Emory’s Goizueta Business School. “They are then more vulnerable to economic downturns.”
Professor Smith said it is more than a 30 percent chance that we will be in a recession by the end of the year. Blount says because of the program, she is prepared if that happens.
[SIGN UP: WSB-TV Daily Headlines Newsletter]
“It helped me really understand how to use my dollar and how to stretch my dollar,” Blount said.
Professor Smith said one way to prepare is to look at current subscriptions and cancel ones that are unused.
This year H.O.P.E. Inc. is celebrating their 100th graduate.
©2025 Cox Media Group
