MassMutual’s State of the American Mom research study found that many moms have strong hopes and convictions about providing financially for their families, but given the multiple demands of the life of a Mom, many also find it hard to achieve.
American moms are a group of busy, multi-tasking women who have to balance household duties, meet the needs of their children, manage finances, and meet the demands of their careers if they work outside the home. I think we are an awesome group of SuperMoms!!! But no wonder we moms often feel overwhelmed by our many challenges and responsibilities.
MassMutual’s research study led to this helpful infographic:
Do you manage the household finances? Have you ever thought about taking steps towards planning for the future? A great place to get started with planning your family finances is at MassMutual’s Family Finances page. Here you will find planning tools and resources about college savings, saving for retirement, managing day-to-day expenses and educating yourself and your children about finances.
MassMutual has created a cool new quiz for Moms to help us think about our attitudes towards finances and saving for the future. I just took the brief quiz and got the instant results. Want to know my financial attitude? I am pretty impressed that the quiz really hit the nail on the head about me! My results:
The hardest thing for me is going to be forcing myself to face the finances for 30-60 minutes a month as the Quiz Results suggest. I guess I can break it down into a 10 to 15 minute session per week, and it does not sound so bad that way. I know I need to be more involved in my family finances and planning. Managing money is stressful for me, so a lot of times I like to avoid dealing with looking at finances too closely.
Over the years, my husband and I have faced many major financial decisions. For example, trying to decide the best time to buy a house. The real estate market has been scary with its ups and downs, and we put off buying a home until we felt comfortable we were making a good investment. We hope we made the right decision! Only time will tell. In 2013, my husband and I have looked for ways we can save money by cutting out a lot of our Wants so we can pay for our family’s Needs. It’s been hard because the Wants are almost always so much more fun than the Needs.
I know that by taking MassMutual’s advice and spending time on financial goals – like setting aside the time to work out a budget that I have been meaning to create for years – is crucial to helping my family plan for the future. Setting a good financial example for my children is important, too. Kids can start to develop good money management habits from an early age with help and encouragement from parents.
Learn more and find a financial professional near your home at the MassMutual website.
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I wrote this post as participation in in a blog tour for Mom Central on behalf of MassMutual and received compensation in the form of an Amazon gift code to thank me for taking the time to participate.