5 Super Smart Financial Moves for SAHMs

Don’t feel guilty about having input into family finances.

1. 1. Women are a valued part of the household. Even if there is a division of labor and responsibilities, women still have a say in how the money is spent, invested, and used.

Understand your spouse’s paycheck and benefits.

1. 1. Health insurance.
   2. Life insurance.
   3. Disability insurance.
   4. 401k
   5. Beneficiaries.

Contribute to your own retirement account.

1. 1. Individual Retirement Account  (IRA) is for earned income, but if your spouse has earned income, you can make a contribution for the spouse.
   2. Contributions are $6000 or if over 50, $7000.
   3. These assets are saved in your own name.
   4. There is a tax break for contributions.

Life insurance is needed for a SAHM.

1. 1. Replacing the duties of a mother is very expensive.
   2. Life insurance will help the financial risk of mom dying.
   3. Even if you do have life insurance, be sure you have enough insurance.

Start the conversation about money with your spouse.

1. 1. Prepare to have healthy money conversations.
   2. Start small.
   3. List out what you want to know and why.
   4. Progress not perfection