People of Miami

The Importance of Financial Independence for Stay-At-Home-Moms

Stay-at-home moms (SAHMs) deserve financial independence and freedom as much as anyone else

There’s no denying the incredible amount of work that stay-at-home-moms (SAHMs) do and put in each day to make their house a home, and there’s also no denying that there’s a lot of inequality too. All women are working women, only some are salaried, and this includes SAHMs, who are not paid for the work they do, making financial independence all the more important.

Here are some reasons why it’s crucial for SAHMs to regain and work on their financial independence:

It’s one of the keystones of being secure

Financial independence is an incredibly central part of being secure and comfortable in your own right. Having that sense of security and knowing that you’re not relying on someone else to survive is one of the most liberating experiences to have. It allows you to be clear about your relationship. Financial abuse is one of the most common abuse tactics in relationships, and it’s important to protect yourself in all situations.

Financial independence reiterates your worth

Financial independence helps you hold your own. While it’s unfair and wrong, a lot of SAHMs tend to feel unworthy due to their dependence on the main earner, despite their own role in the home. Financial independence, either through shared finances, income sources, or other forms, can be quite helpful for boosting one’s self-esteem. In fact, the median income of stay-at-home-parents and all the work they do, from cooking to cleaning to laundry, is worth over  $178k annually. Considering that valuation, it’s incredible to know just how much you do each day.

A mother and son sit together on the ground, looking at a map.

Independence allows you to be more present

Once you have financial independence, you can be more present with your family, friends, and loved ones. It frees up your mind from worrying about the nitty-gritty and thinking about all the different issues you’re faced with and allows you to spend quality time without being clouded with fear, worry, anxiety, and stress. Knowing you have money to fall back on or assets that can benefit you is a major step forward for a lot of women, especially SAHMs.

You can indulge yourself and your loved ones

It feels great to be able to share with your loved ones, spoiling them, treating them and yourself. Whether it’s going out to your family’s favorite restaurant or it’s buying yourself a nice new outfit for yourself, having the freedom to indulge in your wants is an incredible feeling. There are also psychological and emotional benefits of gift-giving, which becomes easier when you have financial independence.

It’s something that is solely for you yourself

Having financial independence isn’t for anyone but yourself. It’s a way of supporting yourself, taking care of your own needs, and building something that is entirely your own. It’s not for anyone else or any other expense, but something you do to feel confident, happy, and self-sufficient.

It’s also important to make a budget and sort your finances to avoid overspending and help you keep track of where your money is going.

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