The Best Thing You Can Do for Your Finances - What Mommy Does (2024)

FAQs

What is the financial role of a mother? ›

Motherhood comes with a whole new set of responsibilities, including now being responsible for someone else's financial wellbeing. Not only has it changed how I spend and invest my money, but it's made me reflect on how my attitude to finance will also inform how my son approaches it down the line.

'” “The best piece of advice my mom ever gave me was to be kind, especially in the face of someone else's anger. She said that kindness creates a ripple effect we often cannot see and that anger is often fear in disguise. The best way to counterbalance it is through kindness.”

Depending on the size of the home, family, pets, and numerous other conditions, a stay-at-home parent may work upwards of 98 hours a week. According to 2019 data from Salary.com, if you are a stay-at-home parent and paid for your services, you would be looking at a median annual salary of $178,201.

To give just a few examples, mothers give their children psychological support and empathy, teach them moral values, and mediate how they interact with their siblings and their fathers.

In California, fathers not married to their child's mother and who are the child's biological or legal parent typically must pay child support until the child turns 18, although some exceptions may exist.

The 'good enough mother' would be one who consistently meets the needs of the infant, but does not do so with absolute perfection. This allows space for the infant to develop a sense of themselves as autonomous and separate from their mother.

Think before you speak to someone; about how your words will make them feel, provide encouragement, or help them to think. Learn how to do something to support yourself while you pursue your musical career. Marry your friend. Passion may come and go, but you'll always remember that you were friends first.

How much should a stay-at-home mom make per year? ›

According to a survey from Salary.com, stay-at-home moms should earn upwards of $162,581 per year. All those early mornings and late nights mean mom could be pulling in a pretty nice salary — you know, if she was actually getting paid.

What SAHMs Do. A stay-at-home mom works many jobs throughout the day. They're a nurse, chauffeur, chef, teacher, playmate, housekeeper, laundry attendant, accountant, and babysitter all rolled into one. While there's no such thing as a typical day, this sample schedule gives you an idea of what her day involves.

Filial laws require children to provide for parents' basic needs such as food, housing, and medical care. The extent of filial responsibility varies by state, along with conditions that make it enforceable including the parent's age and the adult child's financial situation.

More than half of all states currently have laws in place making adult children financially responsible for their parents. This includes their long-term care costs and other medical bills. However, the upside is that authorities rarely enforce these laws.

Family members often worry that they may be responsible for repaying these debts, but the good news is that they are not transferrable. This is a common concern, but even if you have financial power of attorney (POA) for a parent, you are not liable for their debts.

Financial stability enables families to access safe housing, healthy foods, and other necessities, to engage fully in their communities, and to plan for the future.