Smart Mom, Rich Mom: How to Build Wealth While Raising a Family

Smart Mom Rich Mom How to Build Wealth While Raising a Family Of all life s financial shocks few compare to bringing home an infant Just one tiny person costs to raise not including college How will you pay for it That agonizing question fuels mothers c

  • Title: Smart Mom, Rich Mom: How to Build Wealth While Raising a Family
  • Author: Kimberly Palmer
  • ISBN: 9780814436806
  • Page: 292
  • Format: Paperback
  • 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 possibilitOf 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 and emerged 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 explain how to Prepare financially for parenthood whether you re expecting your first child or your thirdBalance thrift with generating income and investing wiselyFind flexibility at work while safeguarding your earning potentialSave for both college and retirement despite increased expensesPlan for unexpected events, like a layoff or illnessAnd much 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.

    One thought on “Smart Mom, Rich Mom: How to Build Wealth While Raising a Family”

    1. I liked the personal anecdotes and the tone in the beginning was engaging and relevant. Yet, as it went on the chapters felt very similar and repetitive. However I found the checklists and templates at the back the best part and I look forward to using them. Palmer advises women to keep working in some capacity one they become a parent. I'm assuming she means outside the home as there is plenty to keep a mom busy when she's the main caregiver. It is sage advice and I have done the same. Nonethel [...]

    2. Claims in the beginning that financial books aimed at women focus too much on infantalizing advice like cutting back at the grocery store and not buying shoes instead of investments and wealth building, priming you for something the opposite then spends the next 40 pages on "tips" like googling for promo codes before you checkout online (does anyone still not know to do this? I mean really), putting money into your savings instead of getting "$200 highlights" (lol u ladiez and ur hair) and cutti [...]

    3. Highly disappointing read. I'm a stay at home mom. I do this because it's SMART for our family. In our area, childcare would eat up over 80% of my salary, and health care and classroom needs (I was a teacher) would eat up the other 20%. I was looking for a book to help me while I'm at home spend my money well and continue to build wealth. Instead I was met with a woman who condescendingly repeated that "smart" women always make money even when they have children. Or smart women don't buy the sho [...]

    4. The target audience of this book seems to be young women currently in a salaried 9-5-type job and are married to a partner who also works, are either planning to become pregnant/pregnant with their first child/first child was just born recently, and whose own mothers did not handle the finances in their family growing up (or did not handle them well).Since this does not describe me in any way, I found it to be not entirely helpful. There were a few tidbits, yes, but probably the best advice it c [...]

    5. It had some good ideas however I didn't like the author's (I don't have the book in front of me right now so I can't quote verbatim) insinuation that only smart mom's make their own money and don't rely on their husbands. This was not a book geared to mom's who want to be homemakers and help their husband's grow their money together - it's really about mom's working, even part time and having their own accounts, etc. There were some good ideas about investing and while there are some single moms [...]

    6. I love how this book changes the conversation from clipping coupons to a more powerful message of how to create wealth and financial independence for your family. The big picture discussion, along with tips to create wealth, with humor and real-life mom examples, was so helpful. This book is fabulous!

    7. There were definitely some misses in this book, and I can see how it made some other stay-at-home moms mad. But this is a book about building wealth, and taking yourself all the way out of working-for-money mode DOES make it harder to get back into it if you need it. She isn't saying our job isn't important. She is saying it is better for your family's wealth if you can do something that you get paid for rather than taking yourself 100% out of the workforce, which I think most people would agree [...]

    8. I think this author just dashed off this book, with little interest in it other than publishing another book. A good financial book that takes into consideration the realities of motherhood and its effect on earning and saving, and the likelihood that we we will become a parental caregiver at some point would be a great idea. One that sees women as capable of understanding actual financial advice rather than admonitions to save rather than get your hair done or eat in rather than dine out. But t [...]

    9. some bits of helpful information. However, it often feels counterproductive. She treats women as the shoppers, coupon clippers that she's encouraging us not to be.

    10. Good tips geared towards the working mom, but doesn't go into the type of details I would expect from a book with this title. More of a financial parenting memoir than a how-to guide.

    11. In my country, moms have the traditional role of handling budget and finances of their families. That is why the many of ideas here in this book are familiar to me personally. My mom was the main decision maker when it comes to financial decisions. In my own family now, both me and my wife are jointly making decisions in our finances. We don't make big purchases without consulting each other. Since me and my wife are embracing the non-traditional role of spouses, Reading this book is a great hel [...]

    12. I think this book is better served if you see it as a mom's manifesto rather than a how-to guide to managing money. The author lists A LOT of things that smart moms should be doing like managing investments, saving for retirement, managing online identities and personal documents, etc. If I were the kind of person that did none of this, I might find this to be really overwhelming. Maybe someone can take this step-by-step and start doing each thing the author recommends but like I said, it is a l [...]

    13. I received a digital copy of Smart Mom, Rich Mom from NetGalley in exchange for an honest review.I found the chapters easy to understand & the reviews at the end of each chapter helpful. At one point, my concern is that if the reader has not started saving for the future they could become overwhelmed. However, there are plenty of examples & ideas for the reader to put to use. This book can definitely be used as a tool in teaching financial literacy.

    14. I found the advice in this book very basic and geared towards someone who has never managed their money before (i.e the author kept repeating that you can't just let your husband handle all of the finances). Good advice, but I was looking for more concrete discussions of investing and strategies for building the college fund beyond "set up a 529 account". Again, very basic stuff.

    15. As a mom-to-be in two months with a desire to stay at home for a bit, this book definitely interested me. Kimberly offered a large array of interesting and thought-provoking tips and stories that have provided a nice base for my husband and I to begin delving into our finances and making plans about our future.

    16. There were a few good tips in this book, including how to show your kids how to budget and start this at an early age. One big thing I got from this book ( that was going to happen anyway) is to keep working's nice to be reminded how important that is, especially on days when you'd rather stay at home.

    17. I'm not a mom, nor am going to be one anytime soon but I like financial books so I wanted to give this a try. I think there's a lot of good, sound financial advice even for people who don't have kids.

    18. As the female bread winner in my family, I found a lot of this book disappointing. The author spends a good majority of the book explaining the gender equality gap with money. She gives a lot of tips for woman to make sure they know what their husband does with the money, to be involved just as much as he is, and learn to be independent. I am apparently from a different world entirely so much so that I found it annoying that so much time was being spent on empowering woman and it made my situati [...]

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