Pierce: I plan to develop an app to help single mothers manage their finances. Now their lives are bad

Former NBA star Paul Pierce expressed his hope to help single mothers manage their finances through the development of an APP.

In the career of an NBA player, basketball does not occupy a long time. On average, professional players spend about five years in the league, and their income is often exhausted shortly after retirement. Many people will start new business projects to increase their revenue. Paul Pierce is one of the lucky few athletes, earning nearly $200 million in his 19-year career and still living a comfortable life. Recently he has an idea about developing new applications, but his main goal is not to make more money for himself, but to help those in need.

In the United States, 40-50% of marriages end in divorce. If both spouses have children, most of the time, the mother will be given custody. Raising a child as a single mother has become extremely difficult in today's economic environment. Pierce has witnessed many single mothers’ struggles in his life. He noted that although many single mothers received child support, their situation was worse than that due to lack of knowledge about financial management. "A lot of times, I think the money should be used to open an insurance account for the children and deposit the money into that bank account. But unfortunately, the money is often used for women's own living expenses."

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The Boston Celtics legend realized that these monthly payments were applied to the basic needs of children, but sometimes they were used elsewhere.

Pearce does not speak only from the perspective of the bystander; he is currently a father who pays support for his three children. He is not against single mothers enjoying life, but he believes that children’s needs should always be put first. "School supplies, shoes, clothes, girls started asking for more money to get... because the money wasn't saved. As a man, you'd think, 'Oh my god, where did the support go?'" Pierce said.

Pearce did not want to blame these mothers for their financial habits. Instead, he hopes to create a platform that allows them to learn how to balance those expenses. He said: "Maybe I should develop a single mother app to teach them how to manage their money, because many people are not doing the right thing. This app will help single mothers who receive child support and teach them how to invest and add value to the money."

It is worth mentioning that Pierce has the right resources around him that may put his ideas into action.

source:7m cn live vn