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

FAQs

What is the financial role of a mother? ›

The financial implications of motherhood means moms must adjust their finances to fit the needs of their growing family whether they are a mom in the labor force or a stay-at-home mom. A working mom combines a career with the responsibility of raising a family.

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.

'” “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.”

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.

Scholars define mothering many ways, but most include the idea that nurturing children is the central task. Nurturing includes meeting children's physical demands, such as food, clothing, and protection. And it includes loving, cherishing, educating, and training them.

Filial responsibility is a legal concept in which an adult child is financially responsible for their parents' unpaid healthcare costs. Not all states have filial responsibility laws, and not all families are liable.

You can keep on buying used clothing for kids in school, either from consignment shops, people you know, or Facebook groups, for example. And if you're able to avoid moving up to a huge house just because you have kids, you'll save on housing costs, too.

Reassuring someone that they don't have to bottle things up and pretend that everything is fine can be a real comfort, especially if they're going through a tough time financially. Being patient and empathetic may also help them take the necessary steps towards getting debt help.

What are fair expectations of a stay-at-home mom? ›

SAHMs are often in charge of appointments, grocery shopping, home repairs and more, ensuring everything around the house is handled. Cooking and cleaning. Because they're home most of the day, SAHMs often clean the house and cook the meals. This includes breakfast, lunch, dinner and all the snacks.

The good enough position holds that trusting your innate nurturing abilities will guide you to approximate getting it right most of the time. Infants do not need perfect parents, they need parents who attempt to meet their needs sensitively and responsively most of the time.

To ask nothing of the child, to demand no service or special behavior but simply to react with the joy of the child's being is probably the most important thing a parent can give a child. I suppose this is called, in other terms, unconditional love. I think of my own mother with my deaf daughter Cybele.

'Don't let anyone discourage you' One thing that always rings in my ear is my mother would say “Don't let anyone discourage you from what you want to do or achieve. There will always be those that don't want to see you succeed” This is so true.

Parents are only legally obligated to financially support their children who are 17 and younger. Once their children are 18, the parents are NOT legally obligated to care for their adult children financially at all. whether you are single or dating or married.

Multiple of Money (MoM) = Total Cash Inflows ÷ Total Cash Outflows. For example, if the total cash inflows (i.e. proceeds from the sale of a portfolio company) are $100m from a $10m initial equity investment, the MoM would be 10.0x. Multiple of Money (MoM) = $100 million ÷ $10 million = 10.0x.

Child support is a legal obligation that a biological parent has for providing for the basic living expenses of a child: food, clothing, shelter, health care and education. It is a noncustodial parent's financial obligation to make monthly or periodic payments to a custodial parent.

Most require that a parent must be deemed unable to pay for the costs of basic care and support before a child may be held responsible. And most states consider the child's ability to pay before holding the child liable for the cost of a parent's health care.