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“Parents” magazine has a good article for every stay-at-home mom (and working moms too) about what we must know about our money. The article is a quick read, but has several key points:
- Know your worth
- Stay in the loop
- Have a spending plan
- Make sure you’re insured
- Keep money in your name
- Stay marketable
But, the most important piece of advice is a quote they hightlight in the second page of the article:
“If you’re a stay-at-home mom, you shouldn’t hesitate to insist on having an equal say in financial matters. Taking care of yourkids and the household is just as important to your family’s economic health as your husband’s job is.”
This is true of working moms too — we must be an active participant in our family’s financial plans. Women need to become knowledgeable about our finances so we can participate and know where our money is going and how we are going to save for retirement. I’m going to keep preaching this until the cows come home. Until I see the cow, I’ll keep sending the message to women about becoming knowledgeable about money. Hurray to those of you who are there already — you are the model for the rest of us to follow.