Effects on the child could be:
Becoming a single teenage mother is not impossible, and with determination and/or help from family and friends, it can be accomplished. However, when the supports are not present, it does not end up being just a personal problem, it ends up being a problem society has to deal with.
High paying jobs are not common options for teen mothers, because most do not qualify for these jobs. Most teenage pregnancies are supported by taxes, especially in cases where the mother gets no assistance from family or other loved ones. Even with this in mind, it is not possible for the government to provide for the estimated one million teens who become pregnant annually.