I have been a single mom for 20 years. Never married, so no divorce settlements of any kind. A total of $100 in child support in 20 yrs for my son.
18 yrs ago when I could somewhat
afford a house in my area,
I didn't have a down payment so couldn't get in.
My rent was $625 a month and child care was $260 a month.
Money was real tight back then. I only brought home $1000 a month.
Fast forward to today... I still work for the same company.
My salary is over double what it was then. I *had* a
down payment saved but housing prices are so far out of reach, I could NEVER afford to own here now.
My Rent is now $1625 a month for a 2 bedroom duplex(with a nice yard/no garage)
So all those raises really only covered cost of living for the area I live in.
(luckily I have no day care expense now, cause I would be in BIG trouble
@ the going rate of $1200 a month in this area)
I spent the down payment I had saved by taking a 13 1/2 month unpaid
maternity leave with dd who is now 2yrs old.
It was one of THE BEST YEARs OF MY LIFE!
I dream of owning a home someday.. at times I get depressed about it,
but try to not dwell on it too much. Instead I started saving for another
year off with my 3rd child as a single mom!