WELCOME TO THE IT'$ MY MONEY
Motherhood and Finances
Entering into motherhood is a beautiful, unique experience between a mother and child. I remember it like it was yesterday. 4:59am on July 5, 1990 is when my daughter was born. Ok, let me not go down memory lane. There are various financial habits to form that will make motherhood a smoother process like mastering the fundamentals of finances. Fundamentals are things like budgeting, saving, use your credit responsibly and invest in life insurance.
I was a single mom so I know 1st hand, for single mothers, it is so important to remember to Pay Yourself First. No matter what! I was a single mom for many years and wish I was given this tip. You can determine how much you pay yourself but you must always do it. If possible, automate the process then forget about it. Also, don’t hesitate to reach out for help if needed. Especially if you are struggling to make ends meet. Sometimes there is a need to generate additional income. Now-a-day, there are so many different ways. One way is to monetize your current skills and passions to earn extra money with side hustles. There are so many services that people need and will pay for, especially if it is solving a problem. Here are two great blogs for information on side hustles.
Earn extra money from side hustles
Zero or no investment small business ideas
When it comes to creating side hustles for yourself and your family, the list is endless. As mentioned, focus on your current skills. Are there things you know how to do that people will pay for? For example, if you’re great at English, you could be an editor for a blogger or author. If you’re great with email and administrative tasks, you could become a virtual assistant for small business owners. The list is endless. You can leave a comment below with a skill or passion and I will try and suggest a side hustle you can start right away to earn extra money.
There are many things you can do to incorporate financial lessons into your children’s lives. Have regular conversations with them and let them see good money behaviours. Get them books and games to teach financial concepts and terms. If you have little children, there is a coloring book that you can download and print here. There are resources for teenagers as well. Volume I of my book “It’$ My Money” is great for their age group. Grab it here.
Naturally, as you delve further into motherhood, you are going to need to practice self care. This may seem impossible on a tight budget. Here are a few options:
As moms we often say, we are good as long as our family is ok. Sometimes, that means at the expense of our own self care. Please know it is OK to take care of yourself so that you can take better care of others.
Mother’s day just passed but for the ones to come, know there are affordable ways to cherish your mother. Go for sentiment!
It’s so important that we as mothers know, and teach our children, that you can make mistakes financially and move forward from that place. Wipe yourself off and make it happen. The winner is the one that gets back up and learn from the fall. You have to execute on proven strategies to get and keep your money right. Finally, when you need help, get it. Not everyone knows how to manage money well and that is ok. Seek help and resources just as you would for anything else you aren’t great at!
In the need of a resources that can help you manage your money:
If you want to DIY it, you a grab some helpful resources that I have created here.
Don't forget to leave a comments on skills you want to monetize so I can try and provide you a suggestion on how you can get started.
By the way here is a great picture of me and my daughter. She is my pride and joy.
6/16/2021 11:36:58 am
Being a single mother is difficult (that's to say the least). But the responsibility for little people who are helpless, who need our love and care makes us stronger and moves us forward. Our children learn from us to live, to dream, to take care of themselves, to make choices and decisions, financial as well. Yes, we want to look ideal in the eyes of our children, but life is not ideal. That is why there is no shame to make mistakes and asking for some help, financial as well.
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