How to Make Money as a Stay-at-Home Mom

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How to Save for Retirement When You're a Stay-at-Home Parent

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Investments for stay at home moms

Postby Fenrir В» 27.02.2020


After getting married, I suggested that we keep our own personal bank accounts. I felt joint expenses should be decided jointly, but personal expenses should be personal. He agreed. At first it was easy. I was a lawyer. He was an engineer. We made roughly the same salary. But then I decided to temporarily move to Colorado to help run a marijuana legalization campaign.

I took a pay cut because it was exhilarating to be a part of history. Before I left for Colorado, we spent an afternoon on Mint, setting up allowances for each of our fixed monthly expenses and figuring out how much we could each spend on discretionary expenses.

Especially while living so frugally, it felt good and rebellious to spend some guilt-free cash breaking the advice of every talk show financial adviser. When I returned home to Boston, it was a special occasion when we updated Mint to reflect just one rent expense and two professional-level salaries. That was the plan, anyway, until later that winter when I found out I was pregnant — and a condition called hyperemesis gravidarum a technical term for unrelenting vomiting took over me.

The next few months were a blur. Somewhere between the hospital visits and vomiting, my husband moved us to a smaller apartment so we could manage on one salary until I went back to work.

Around my second trimester, I started to feel a little better. We had to scrimp, but we made the budgets work. We continued to make financial decisions together, and I was sticking to my budget and paying bills out of my account as usual.

It stung; the thought of asking my husband to pay my credit card bill was mortifying. I pictured him looking at the statement and questioning the Sephora charge. Would I have to show him the Dior eyeliner I buy monthly?

He told me to email him the amount I needed. So the next morning, I wrote him a list of line items and amounts. I considered adding a line for my credit card bill. Or even more unnerving, I considered writing separate lines for everything on my credit card bill.

But I realized we had already gone through this process. An hour later an email showed me that he had made the transfer into my account and set an auto-transfer for the same amount every month. So I continued to stay home for a while. That small, personal, no-questions-asked amusement fund has allowed me to maintain my financial dignity.

Not only does that money go exclusively to my personal wants and needs, but I have autonomy over how best to spend it. The thought of asking my husband to pay my credit card bill was mortifying.

Related Topics: finances financial inequality husband marriage marriage problems money personal finance relationship SAHM stay at home mom. Related Content Retirement. Financial Planning.

Top 15 Home Based Business Ideas For Stay At Home Moms (Low Capital with Huge Profit), time: 2:34
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Re: investments for stay at home moms

Postby Meztinris В» 27.02.2020

Robin Hyche on September 23 at. Mim on September 25 at. Learn how your comment data is processed.

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Re: investments for stay at home moms

Postby Mazshura В» 27.02.2020

There's also low overhead: You simply need a computer and learn more here, internet access and word processing software. Get your budget in order with the Monthly Budget Worksheet. Or you might have a home-based business, which opens up even more investing possibilities.

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Re: investments for stay at home moms

Postby Kagarr В» 27.02.2020

Rich realized setting up a spousal IRA could help his wife feel more empowered. Angela on March 24 at. Working while staying at home can read article bring you st independence.

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Re: investments for stay at home moms

Postby Vilkree В» 27.02.2020

Login with Facebook Login with Google. The food budget is one big area where you can save money. Back Tools.

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