Ellen Rohr's Financial Tips for Stay at Home Parents

Are you a stay at home parent?  We've got important financial tips just for you!

Perhaps you've opted for the stay-at-home mom lifestyle.  Good for you for prioritizing children and family!  However, are you putting yourself at risk financially?  Stuff happens.  What if you were suddenly single?   Here are some tips for making sure you don't leave your money outside when you choose to stay at home.  

Five D's... Death, Disaster, Divorce, Disability and Debt are the big life changers.  Be willing to have the conversation with the other breadwinner.  

List what you have, owe and own.  The Balance Sheet.   Get clear on where you are now.  No panicking.  You can always improve a financial position.  It's essential that you confront your current position.  

Money in and money out!  The Income Statement.  Knowing can make all the difference.

Money...Address the money, honey.  Add up what it will cost to live...and live well.  Then, your income has to be bigger than that.  What would you need to bring in per month to make it work?  Get creative!  You could have 2 or three streams of income.  

Chains to break.  Is it time to split up? Lawyer up.  But only after you have a good idea of what you want to have happen.  Remember, the one leaving may be you. 

The Five D's can strike anyone.   Perhaps there is a business in you?  Shark Tank Shark Barbara Corcoran turned an abusive relationship into the starting point of her $100 million empire.

 


More Stories

Don't Miss

  • Don Vance Ford
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • CoxHealth - Fitness
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Harter House - Famous For Our Meats
  • Sutherlands Hardware & Supply
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
  • Tri-Lakes Motors
    Copyright 2018 Nexstar Broadcasting, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Trending Stories

Latest News

Video Center