• Home
  • About
    • This IS My Real Job
    • 5 Things I’ve Learned…
  • Beautycounter
    • Become a Beautycounter Consultant: FAQs
  • Contact
  • Recipe Index
  • Travel
  • Amazon Lists
  • Instagram
  • Fitness
    • Bloglovin
    • Facebook
    • Google+
    • Instagram
    • Pinterest
    • RSS
    • Twitter
    • YouTube

Heather's Dish

Heather's Dish

Mom to Mom: What I Wish I’d Understood About Money When My Kids Were Younger

Share
Pin
Tweet
0 Shares

The post Mom to Mom: What I Wish I’d Understood About Money When My Kids Were Younger is sponsored by the Arkansas 529 Education Savings Program. All words and opinions are my own.

Mom to Mom: What I Wish I'd Understood About Money When My Kids Were Younger #sponsored

Finances. 

The word alone used to feel so off-putting up until about 6 months ago, let alone actually taking action on the goals associated with them. I’m that girl who took accounting and finance classes in college (YAWN), but who just memorized the information enough to pass tests before quickly forgetting it. I always knew to save money and not spend beyond my means, and debt was a 4-letter word for us growing up. Beyond that, though? Financial literacy seemed like the Wild West. 

Over the past few years I’ve been slowly learning that financial literacy doesn’t have to be scary. With the depth and range of knowledge available online (and through my local library) I’ve begun to teach myself a little more about how to achieve the seemingly elusive financial freedom. In fact, rather than being scary, learning about this is FUN! Not at all like the accounting classes in college, because when you learn about personal finance and truly become involved what’s really happening is you’re saying YES to your dreams.

Mom to Mom: What I Wish I'd Understood About Money When My Kids Were Younger

Over the first few years of our marriage I had no problem letting Nate be the one to take charge of our finances. I mean, he knew more about it and seemed more comfortable doing it, so why not? As we’ve grown older though I started to wonder (somewhat morbidly) what would happen if something tragic happened to one of us? What if I found myself needing to know everything about our finances…but I didn’t? What if…? 

As a woman I’ve always known that lower wages and time off to care for children or aging parents already put me at a financial disadvantage. Statistics show that we typically outlive men by 7 years; 80% of women die widowed, whereas 80% of men die married. They also show that 50% of marriages end in divorce, another sad statistic that impacts our financial health. Both scenarios leave women in charge of finances, and if we have no experience or understanding then our standard of living (and all those dreams we’ve had) could very likely plummet. 

While that information is bleak and depressing, it is reasonable to live in a state of hope while still being prepared. After being faced with the economic disaster caused by COVID-19 I snapped to it and really started to educate myself about financial health. There’s still a lot to learn, but I feel significantly more confident in what to do in any number of scenarios. My only regret is that I didn’t start learning these things (and taking action) sooner! From one veteran mom to another, here are 5 simple things you can do TODAY to start taking control of your financial education!

Mom to Mom: What I Wish I'd Understood About Money When My Kids Were Younger
  1. Make a list of ALL accounts. Anything that you spend money on, invest money in, or pay toward needs to be on this list. Mortgages, car loans, student loans, investments, health insurance, car insurance, disability insurance, life insurance, credit and debit cards, checking accounts, savings accounts, etc. Include account numbers, login information, contact information for each company or broker. Some of this may take a little time and effort, but once you have all of the information in one place it will be significantly easier to track. 
  2. Put all essential documents in a safe space. Birth certificates, social security cards, marriage licenses, wills, documents for your assets (like your home or car), passports, and more should be stored in a protected box in a secure location that you can easily access. This simple organization (and I use that term loosely) can make all the difference as you open accounts, fill out forms, etc. 
  3. Have some serious conversations. While there will be some discomfort to these, they don’t have to be hard. First I recommend talking to your spouse or significant other about where you stand financially, then dream about where you want to be. What are your roadblocks right now? What could they be in a few years? What do you ultimately want to do down the road? Some of these dreams and goals may change, but the two steps in getting anywhere are knowing where you are and then knowing where you want to go. Second, talk to other women in your family or life about their experience. Having someone who has gone before you will be so helpful in helping you think through next steps. Additionally it may open your eyes to circumstances, tips and tricks you may not have considered before. Finally, have a frank and honest conversation with yourself. Why are you not where you need to be? What are some lies that you’ve bought into regarding money? Are you willing to do the work to change that?
  4. Create a list of goals. I realize that I am more prone to creating goals than a lot of people, but I’m also a firm believer that they provide incredible direction in every area of our lives. I also recommend setting multiple goals; I have retirement goals of course, as well as goals for college savings, bucket list vacations, dream home, etc. Maybe one that you have is taking a course that could help you reach another life goal…make sure you include those as well!
  5. Start somewhere. Take the time to research how to start investing in ways that will bring you to your goals, and then take action. I just want to give it to you straight: the longer you wait, the more likely you are to procrastinate and waste precious time that could be spent making a positive impact on your family’s future. You are completely capable of making a choice today that will help you down the road!
Mom to Mom: What I Wish I'd Understood About Money When My Kids Were Younger

In our marriage one of our biggest dreams has been to send our kids to college without accruing debt from student loans. I see now what a massive blessing it was that our parents had the foresight and ability to do this for us, and how much it could help our boys in the future. It feels so daunting, though, as the cost of tuition steadily increases at the same time that we have to start thinking about braces, sports and more.

One of the biggest ways we can reach this goal is by setting up an Arkansas 529 Education Savings Program. Mom to mom? Rather than saving for college through a simple savings account at our bank for the past 8 years, we could have been saving in an Arkansas 529 account with significant tax advantages, age-based options, and more. Besides the fact that I wish I had known earlier how non-scary finances are, I REALLY wish I’d started saving for college with an Arkansas 529 account when my children were newborns. 

The good news is setting up an Arkansas 529 education savings plan for my sons is something I can do TODAY for a minimal investment and minimal effort. Then the plan just goes, without me having to make a conscious effort every month, and will continue to provide peace of mind while setting us all up for a brighter future. (P.S. This is a great feature for grandparents too!) I can do it today…and so can you!

To read and learn more about the Arkansas 529 Education Savings Plan (and sign up!), I recommend spending some time on their website. 

Share
Pin
Tweet
0 Shares


Leave a Comment

Subscribe for the latest.

« Simple DIY Concrete Succulent Planter
Gluten-Free Blender Pumpkin Breakfast Cake »

Leave a Reply Cancel reply

You have to agree to the comment policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Subscribe



Featured on BlogHer.com




Instagram

For my @fasterwaytofatloss friends, here’s an AM For my @fasterwaytofatloss friends, here’s an AMAZING low-carb day dish: roasted cauliflower with smoked paprika and almonds! It’s so simple to make, incredibly flavorful, and pairs really well with truly any protein. Enjoy!

ROASTED CAULIFLOWER WITH SMOKED PAPRIKA AND ALMONDS
* 1 head cauliflower, cut into small florets
* 2 Tbsp olive oil
* 1 tsp salt
* 1 tsp smoked paprika
* 1/2 tsp garlic powder
* 1/2 tsp pepper
* 1/3 cup slivered raw almonds
1. Preheat oven to 375.
2. Spread the cauliflower florets onto a large baking sheet and drizzle with olive oil.
3. Sprinkle evenly with salt, pepper, paprika and garlic powder, then toss to evenly coat it all.
4. Roast at 375 for 25 minutes, tossing halfway through.
5. When there are 3 minutes left, open the oven and sprinkle the almonds on top.
6. Roast for another 3-4 minutes until the almonds are just lightly toasted, then remove and serve immediately.
Captain’s log: Going on day 174 (give or take) o Captain’s log: Going on day 174 (give or take) of being iced in, virtual schooling, working full time, creating snow day memories, working out, eating healthfully, and trying to remember to wash my face (spoiler: today I did not wash my face. Yet). Getting me through: significantly lower expectations, coffee, and drinking smoothies by the fireplace. If there’s a silver lining in the quarantines from last year it’s that I know now that I can handle much more chaos than I thought I could 🤪
A little #howitstartedvshowitsgoing situation with A little #howitstartedvshowitsgoing situation with my avocado plant! Swipe to see this little guy as a teeny sprout 🌱 

I remember when I wasn’t sure it would sprout at all, and then one day the seed split and there it was! We also hit a point November-January where there was zero growth and I wondered again if it was a waste of time.

Now there are new leaves, new height, and (most importantly) stronger roots, all because of a little patience and care (it’s a metaphor y’all 😆). I find myself excited about the next season where it will be planted in dirt, which will offer new challenges - and growth- of its own. What a blessing to learn such deep lessons from a humble seed!

God, thank you for the little things that show us how much the little things matter. Amen.
Why am I looking away? Simple: because it was the Why am I looking away?

Simple: because it was the best photo out of a billion that I took of myself 🤣 Sometimes it all works, today it didn’t. 

Wanna know what DOES work though? This amazing new deodorant! The biggest question I get about cleaner products is always about which is the best natural deodorant. Friends, I’ve found some decent ones in the past, but this one takes the cake!

And, because I know I’ll get asked, my favorite scents are in this order: Fresh Coconut, Soft Lavender, Clean Rose. The coconut smells like a vacation, and couldn’t we all use a vacay right now? 🏖 Link in the ol’ profile to shop!
🙋🏼‍♀️ Hi, my name is Heather and I str 🙋🏼‍♀️ Hi, my name is Heather and I struggle getting enough protein into my diet. Who else can relate?!

One of my physical health goals this year is to gain lean muscle and get stronger, which means that I need to be getting enough protein in on a daily basis. For me a great source of lean protein is chicken breasts, but if they don’t taste great I’m not having it! So, if this is you, I have a solution for you: BRINE YOUR CHICKEN BREASTS! 

Here’s my fail-proof brine recipe for perfectly flavorful chicken breasts. Cook ‘em however you want - just make sure you brine them first! The difference is enormously worth it!

Recipe is for about 4-6 chicken breasts:
•3 tablespoons kosher salt
•3 tablespoons honey
•2 cups lukewarm water
•2 cups cold water

In a large saucepan bring the first 3 ingredients to a simmer. Remove and stir until the salt is dissolved, then pour in the cold water. IT MUST BE COLD - otherwise the brine will start to cook the chicken breasts! When the mixture is lukewarm, add the chicken breasts, making sure they’re covered in the brine. Cover and refrigerate for 1-6 hours (I recommend 6 if you can). When they’re finished, remove from the brine, rinse, pat dry and cook as desired!
🏃🏼‍♀️Who else is struggling with findi 🏃🏼‍♀️Who else is struggling with finding cardio equipment for their home gym on a budget?

I love running, walking and hiking, but weather, childcare, and a certain global pandemic make consistently getting out to do those kinda difficult. I’ve always enjoyed my #homegym, but quality cardio equipment is expensive! 

So what’s a girl to do?

This past fall I randomly decided to look at steppers, and found this @sunnyhealthfitness one on @walmart for $50! I just wanted something that I could use for 20-30 minutes 4-ish days a week, and it’s been an amazing fit. Would I like a Peloton? Duh, of course. But this has worked so well with the budget and space we have!

What’s your biggest struggle in curating a home gym?
A blurry pickup line photo to tell you I can’t r A blurry pickup line photo to tell you I can’t recommend seeing a counselor or therapist enough. I was weird about it first, felt like my problems weren’t big or messy enough to warrant professional help. And when I did start seeing my counselor I was awkward (this shouldn’t be a surprise). But here we are 4 months later and I’m seeing some incredible life-giving movement. God is so good, and I’m so thankful for friends who normalized counseling and therapy for me!
So. It’s been a while since I posted on the feed So. It’s been a while since I posted on the feed (or really in my stories too). Truthfully I’m still heavily processing the last 2 months, which were preceded by 10 other hard months. Life is brutal and beautiful and next-level hard and a joy, all swirled together. I won’t pretend that everything is OK; it’s not. I’m not.
.
BUT GOD.
.
This past weekend I had a moment of complete clarity and joy and the knowledge that I will be OK. And for that only-God moment I’m so thankful. For all of you who have been praying for our family, who have offered the sweetest words and condolences, who have truly been there, waiting and wading with me through the hard - thank you. God is still good. He is still on his throne. And I am so unwaveringly thankful for that!❤️
Just a couple quick reminders: ⭐️ healthy doe Just a couple quick reminders:

⭐️ healthy doesn’t have to be hard
⭐️ you’re allowed to “mess up”
⭐️ you’re allowed to be multidimensional
⭐️ don’t overcomplicate it 
⭐️ YOU ARE CAPABLE 

I have so many thoughts swirling around in my head these days, and half the time I don’t know which way is up. But I do know this: focusing on simplicity is the name of the game this year for me. It starts with the things I can control: my food intake, moving my body, my thoughts, my actions. The rest will stem from there!

Does anyone even do a word of the year anymore after 2020? If you do I’d love to see you share it below!
Follow @HeathersDish
POPSUGAR Select PLUS

You might also like…

Confessions of a Life Blogger, Part II

The Soups You Want to Make Because Soup Season Is Almost Here! Vegan to Paleo, it's all here! @heathersdish

The Soups You Want to Make Because Soup Season Is Almost Here!

My Portion Forever

My StitchFix Experience (#3)

Today is the First Day…

Copyright © 2021 · Heather Disarro · All Rights Reserved

Copyright © 2021 · Heather's Divine Theme on Genesis Framework · WordPress · Log in