Connect Motherhood

Moms: How To Get Back On Track With Your Money

Kathryn Tuggle  |  May 7, 2021

Because moms always get it done, but sometimes we need a little help. Here’s how to get back on track with your money and find success.

If you missed HerMoney + Fidelity Investments Motherhood & Money campaign for Mother’s Day this year, never fear — we’ve got you covered with a roundup on how you can walk the oh-so-important path to get back on track with your finances. 

We know it hasn’t been easy (okay, let’s face it, it’s been nearly impossible) to focus on YOU these last few months, which is why we wanted to do this series — together. 

Because taking care of our money + getting to an empowered place with our finances is SO important, for the you in the here and now, for “future you” in retirement, and for your family as a whole… Because we know our kids are watching and learning from us every time we talk about money. They see if it makes us stressed or makes us happy. They know when we’re feeling bad about finances and our careers, and when we’re feeling good about them. 

Our Motherhood & Money series walked us through everything from managing our finances (successfully!) in limited time + getting crucial documents in order for the future, to how best to invest for the future and get back on track with our money. Here’s a rundown on what we covered this week — and if you want to make sure you never miss one of HerMoney’s exclusive programs, sign up here to subscribe to our newsletters — we’re so happy to have you as part of the HerMoney fam! 

Day 1: Bridging The Financial Gap On Your Break From Work 

Everyday, women leave the workforce to care for a loved one without a clear idea of the impact their time out of the workforce will have on their career and financial future. And while that break from work can be rewarding, it can also be costly… So, how can you lessen the financial impact? We break down how much your break from work will really cost you — and how you can bridge the gaps

Day 2: Got An Hour? 5 Quick Ways To Feel Financially Prepared 

If you’ve got 60 minutes, you’ve got time to get your finances in order — a great way to get back on track with your money. We get it — if it’s been a while since you took a comprehensive look at your financial picture, thinking about diving in can be intimidating. But there are some big picture items you can take care of in a jiffy. Where to start? We break down the 5 best things that you can do right now, in 60 minutes or less, to get to a better place with your finances. Because even if you’re in a time crunch (and we know you are!) you’ve always got time to step into the driver’s seat of your financial life. 

Day 3: The Financial Checkup You Need Right Now  

Are you feeling more stress lately? We’re not surprised. According to data from Fidelity, 60% of women said they’ve felt much more stressed during the pandemic, with 80% of women citing the emotional and mental well-being of their children as their greatest stressor.  But we’re also worried about our finances, and many of us need a roadmap to get back on track — stat.  In this week’s episode of the HerMoney podcast, Jean Chatzky sits down with Fidelity’s Sangeeta Moorjani for a step-by-step check-up that can help all of us get our entire financial house in order. 

Day 4: Where To Put Your Savings Surplus 

After more than a year of no vacations, daycare expenses or extracurricular activities, do you have a savings surplus? And are you wondering where to put it? Many people do. Americans have socked away an extra $1.5 trillion this year. Problem is, there’s no one-size-fits-all answer for the “best” place to put your money. It all depends on how much you’re looking to invest, your time horizon and your definition of risk. Our guide: Where To Put Your Savings Surplus will walk you through all the ins and outs. 

Day 5: Yes, You Can Still Save For Retirement When You Step Out Of The Workforce 

Millions of women step out of the workforce to provide care for their families — or to start a business, or pursue a new passion — every year. And we know these breaks can be difficult, especially for those of us who have been focused on a certain career + earnings trajectory for so long… But a change in plans doesn’t have to be a bad thing. In fact, it can be one of the most rewarding moves you’ve ever made, AND you can continue to save while getting back on track with your money. We break down how to keep saving for retirement after stepping out of the workforce

Day 6: Caregiving For Mom + Dad: Are You Ready? 

One of these days, mom and dad may need your support: emotional, financial, or both. Some 53 million adults in the US are caregivers for someone over the age of 18, or a child with special needs… And guess what? Most of those caregivers are women. Many are moms. Sometimes, the need to give care to those we love can take us by surprise. But there are things we can do now to wrap our arms around our future responsibilities. We break it all down: Caregiving For Mom & Dad: Starting The Conversations + Gathering The Information You Need.

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