What is the appropriate allowance to give my child? What type of account should I open to put aside money for my child’s college tuition? How do I compromise with my husband when he has different opinions about our finances? Should I go back to work or care for my child full-time?
These difficult, yet important questions consume the thoughts of mothers throughout the world. The financial world is tricky for everyone, let alone mothers with little or no financial background, yet mothers have a pivotal role in their families’ finances. To assist mothers with their financial quandaries, the Jewish Women’s Foundation of New York is funding an ongoing blog series, “A Month of Women, Work, & Money,” featured on Kveller.com, a site for those who want to add a Jewish twist to their parenting.
Relatable, straight-forward information about finances that is geared toward mothers is hard to find and extremely beneficial, and that is what this blog is bringing to its readers. The series includes advice from internationally acclaimed personal finance expert Suze Orman and personal accounts from mothers who care for their children full-time and mothers in the corporate world.
On October 29th, Alina Adams posted “We Left Corporate Jobs for Our Kids,” where she explains her husband’s and her choice to leave their stressful jobs where they were unhappy and subsequently change their lifestyle:
We had a choice now. We could both have gone back to corporate, or we could stick to our low paying, but fulfilling careers (not to mention summers and holidays off with the kids and a schedule flexible enough to stay home when someone got sick).
Alina gives an honest portrayal of the pros and cons of her husband’s and her choices. Another woman, not ready to make her own choices, asks a question to Suze Orman in an article posted on October 22nd, “How do you suggest [my husband and me] divide financial responsibilities so that we both are involved, but aren’t constantly having to make every single financial decision and do every task together?” Suze candidly begins her response:
When you’re in a relationship, M just doesn’t stand for marriage, it also stands for money–and if you want your relationship to always be good, then you need to make decisions jointly when it comes to money.
To read the rest of Suze’s response and learn more from mothers and experts about all matters related to “Mothers, Work & Money” join the conversation here.