Astute Financial advice for The Stay-At-Home Mom

Astute Financial advice for The Stay-At-Home Mom

Stay-At-Home Mom

Considering the economic situation in the country, not many mothers are willing to stay back at home to care for their children. But it is one of the most significant investments to make in a marriage, family and child’s life to be a stay-at-home mom. Even with this noble act, money would still be needed to run the family and because relying solely on the hubby’s pay check/income may be herculean, I have a few suggestions on making the best use of the time spent at home with the kids.

Carry some of the burden too: it would be painstakingly difficult to run the household in an unfortunate case like if your husband loses his job for a long time. Relying totally on your spouse to bring in all the money is unproductive.

Set financial goals with your spouse: it’s a marriage after all- two best friends giving life their best shots. So you should discuss what needs to be achieved in the area of finances and what you both can do towards those goals. A problem shared is half solved.

Start small: start doing something, anything to fetch in some Naira. And it doesn’t have to be large scale such that the very idea scares you but could be something so little that it would give you enough income for yourself and your family and would also still give you time with them. You don’t need to start out by renting a Million-Naira-per-month space at the mall. With modern technology and the World Wide Web, the sky is the launching point for the stay-at-home mom who knows her way around it.

Stay-At-Home MomBe a saver: Try all of your best to do this. It may be tough to do but with seriousness on your part your bank would be seeing more of you depositing and not withdrawing cash out of your account. The money saved accumulated over time can be used in marvellous ways.

Learn about investing: of course I don’t mean that you buy large volumes of books or subscribe to Forbes (which is still cool by the way), you can get all those basic knowledge of small time investing in Nigeria here on the internet and sometimes here on Kamdora. There are lots of safe investment options for a stay-at-home mom.

 

Images via Corbis Images and Elitedaily.com

Tobi Gbemisola
Lifestyle Blogger|TV shows, Movies, Music, Monopoly and Books enthusiast|Sapiosexual|Social Media Denizen Twitter: @tobigbemisola

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