All in Mommy Money

Elizabeth Warren, The Two-Income Trap and the Pursuit of Financial Independence

This post is part of the #MommyMoney Series. A series that explores money, motherhood and financial independence. The Two-Income Trap: Why Middle-Class Parents Are (Still) Going Broke is written by Elizabeth Warren with her daughter, Amelia Warren Tyagi. This month’s book is not your typical personal finance book. It doesn’t espouse the same list of recommendations on how to save, what accounts to open, etc. Instead, it is a well researched book about the American family, its American dream and challenges of being middle class in the current financial and government system.

The Six Figure Babysitter: How Stay-At-Home Moms Can Pay Themselves

A stay-at-home mom is a working mom.

I recently read that the annual salary of a stay-at-home mom for 2019 was $178,201 based on an analysis by Unfortunately, the reality is that no matter how much these figures have risen over time, stay-at-home moms do not see a single cent of this salary. Before you become a someone else’s caretaker, set money aside if for the sole reason to have it as a cushion for when and if you decide to leave the workforce to care for others.