Well it seems like we're damned if we do work - or damned more if we don't.
This review of Ann Crittendon's book 'The Price of Motherhood: Why the Most Important Job in the World is Still the Least Valued' documents in painstaking and depressing detail all the ways in wihich government policy, the tax code and corporate culture penalise mothers who work and the parents who stay at home.
When women decide to leave the workforce, they not only forfeit their income, but also super savings, pensions and other benefits. The financial tradeoffs she lists are a stunning indictment of a mother's financial vulnerability. An economics writer herself, Crittendon recommends several smart policy changes for government that would reduce the financial penalty of having kids, especially for SAHMs (Stay at Home Mums). But the goverment acting on our behalf may take decades - so here's some practical ways to bolster your financial and emotional security now -
- Reconsider the prenup ( or if in Australia, consider doing one so that your agreement takes into account the career time given away and lost earnings if you're a SATM)
- Figure out, if you can personally afford this (including sometimes the hit in self-esteem and sense of identity but the 'cost of work' ie travel, wardrobe, eating out etc can be reduced)
- Be honest about what you need if you're going to be the SAHM - time at the gym, extra help, etc.
- Keep planning for your retirement - maybe the working partner invests for the SAHM's future.
- Don't assume you're leaving the workforce - consider sequencing or home-based work
- Find out if your company is more family-friendly than you think - ASK for what you need!
Maybe our Corporate Mother's Forum could help you and other Working Mums at your organisation? See http://www.howdoyoudoit.com.au/
Full article at http://tinyurl.com/3dafy9 or buy the book at http://tinyurl.com/3k2dc2
