Smart Mom, Rich Mom: How to Build Wealth While Raising a Family
by Kimberly Palmer
Retail Price: $14.95
Amazon Price: $6.94
Book Description: Of all life’s financial shocks, few compare to bringing home an infant. Just one tiny person costs $250,000 to raise– not including college! How will you pay for it? That agonizing question fuels mothers’ choices about their careers, budgets, and families. Some lean in, some scale back or seek new opportunities–there are no easy answers . . . but lots of rewarding possibilities. “Smart Mom, Rich Mom” explores how women today are navigating the financially challenging career/parenting years. Written by a national money columnist and mom of two, the book chronicles people who have stayed in the game–full-time, freelance, self-employed, and more–and emerged more prosperous and empowered. “Smart Mom, Rich Mom” mines their experiences to uncover both career advice and spending and savings strategies that everyone can use. Stories, checklists, action steps, planning tools, and more explain how to:
– Prepare financially for parenthood–whether you’re expecting your first child or your third
– Balance thrift with generating income and investing wisely
– Find flexibility at work while safeguarding your earning potential
– Save for both college and retirement despite increased expenses
– Plan for unexpected events, like a layoff or illness
– And much more
Kids change our lives, adding joy but draining bank accounts. “Smart Mom, Rich Mom” helps you adopt healthy habits–and make hard decisions–that pay off in abundance.
This is a fantastic book for mom’s who not only want to stay in the game, but make the best financial decisions for their family. While I am an “empty nester”, I lead a group of entrepreneurial women in a monthly class. Most of them are young mom’s trying their best to take care of their kids and still contribute financially to their household. I purchased this book for them to read and was very pleased with it. I wish I had this advice when I was a young mom. It’s direct, applicable and gives practical advice for mothers on how to be smart about money. Thrift is the best use of all your resources — including money AND time — so mommy savings tips need to expand from coupon-clipping and into longer-term investments. Moms can feel overwhelmed thinking about and planning for the future, but the author makes it “doable” by sharing her own experience, while also drawing on others’ stories. The best part is that you can walk away from this book with clear ideas about how to take better ownership of your family’s finances. This is must-read for women, mom’s and mom’s-to-be and even an old timer like me found so much to learn!
~Reviewed by Allie B.