Moms- are you able to put yourself first without guilt?
I was having a conversation with another finance professional and she asked me what the number one problem moms have when it comes to their finances. I said that while they know what they “should” be doing, they still have difficulty putting themselves first, whether it is learning about money, finances, investing, and money mindset, actually plugging in the numbers into their budget or cash forecast, saving, or investing the money so they can someday retire without being a burden on their children.
We all know the oxygen mask theory and that we need to fill our own cups before we can fill the cups of other, so why is it so difficult to actually follow through?
I mean, we figure out how to pay for the kids’ extracurricular activities, buy the treats, take them on fun adventures… so why the block when it comes to ourselves?
Do we really think the kids are going to say “wow, I am so thankful she sacrificed everything for us!” when they are trying to figure out how to pay for their own children AND help us meet our minimum living expenses?
Do you think they will be saying “well, she always made sure we participated in all the sports!” when they are trying to help us pay our medical bills or pay for the prescriptions that help us maintain our independence?
Or, do you think they will be saying (behind our backs, of course, because they love us) “I really wish mom would have prepared for the future a little better…”.
If you want to be the mom who is not a burden on her children and can maintain her independence for as long as physically possible, you simply have to take care of yourself and put yourself first. This is true not only of your finances, but also physically, mentally, and spiritually.
Which mom are you? Are you “prepared mom” or “hope for the best mom”? What is your weakest area?