Working Towards Financial Independence as a Mum

Staying at home with a child isn’t usually something that mums tend to regret. After all, devoting yourself to your kids as much as humanly possible during those important developing years is probably something you wouldn’t change. It’s not something that everyone gets to do, and getting to be there for those years is a real privilege. But if we think about things from a career angle, as well as from a financial perspective, it’s a big risk.

Accidental Hipster Mum

So more mums have been wondering how to achieve financial independence, especially as many find themselves becoming dependent on someone else’s salary. (Though it’s worth pointing out that roles are reversed more than you think; stay-at-home dads are more common than ever! You can read more about stay-at-home dads here:

Working Towards Financial Independence as a Mum

But what is financial independence? A lot of people assume that it means working your way up to a particular sum of money, a sum so large that it frees you from any financial care or career responsibility for as long as you like. This isn’t the case; it doesn’t mean that you’re, in a sense, independent from finances. It means that you’re in a position where you’re earning money and protected from financial disaster. It means being able to keep standing if something bad should happen.

How can this be achieved? For a start, finding a way to earn money as you juggle the responsibilities of parenting is pretty crucial. Of course, this doesn’t exactly sound like a walk in the park, and many of you may have scoffed at the idea, especially those of you staying at home and looking after more than one child during preschool years! But opportunities to earn money from reasonable part-time work from home are more plentiful than ever. As long as you have a computer, there’s plenty of opportunity for you in sales, copywriting, and other work. You can read more of the top ways to make money from home here:

Beyond the actual earning of money, you need to ensure your credit and accounts remain unaffected by the actions of others. You need to keep them protected, too. So if you need to use a credit card, then make sure you get one in your own name. Of course, it’s best to get a credit card for yourself only if you’re earning an income. You can read more about credit cards for stay-at-home mums here: Opening your own bank account to accept your own income is also essential.

Working Towards Financial Independence as a Mum

One reason these suggestions are good for building financial independence is that they will help you build up a good credit score – another thing you need to focus on here! When you have good credit – not your partner, not you as a couple, not your parents; you – you’ll be in a great position when it comes to financial independence because you’ll be in a better position to take out a loan for you and your kids should the need arise.
While it may sound odd to say that being in a position to take out a loan is a sign of financial independence, you must remember what was highlighted earlier: financial independence means being able to keep standing if things go wrong. Loans can help tremendously.

2 thoughts on “Working Towards Financial Independence as a Mum

  1. Hello! I just wanted to say that, as a stay-at-home-mom to a wonderful 2 year old boy, I do agree with a lot of what you have said here. However, it is important to note that these independant sales jobs where you buy merchandise and throw parties, etc., are NOT for everyone. You don’t just sign up, sell to hundreds of people, and make bank. There is a lot of money, time, and work that goes into selling. If you have the money to afford the upfront costs for these kits, then great, but it is quite a hefty sum, regardless of the company you work for. You also need to have connections. A lot of them. Many of my friends, my sister-in-law, and my mother-in-law have all joined these companies as sales people (Scentsy, Younique, Paparazzi Jewelry, etc.) and have ended up losing more money than they spent (quite a bit more actually), because people just wanted nothing to do with what they were selling. Everyone and their mother seems to be selling something lately, and from the feedback I’ve seen online, people are more turned off than on by it. Having bought from pretty much every one of these companies at one point in time to support my friends, I can say that I have never once been impressed with the products I have received, especially for the cost. Many people I know agree. It’s just a risky thing to get into.

    But making money as a stay-at-home mom is definitely important. It helps with self-esteem, stress, and your bank account, of course! If this type of thing works for you, then great… but it can also backfire and do more harm than good, unfortunately. Personally, I recommend picking up a creative hobby. Something like painting, blogging about something you’re passionate about, podcasting or vlogging, sewing, knitting, woodwork, etc., that you have complete control over. Those things all have the potential to make you money, and they’re fun

    . It starts out slow, since you have to learn a potentially new skill, but the payoff is worth it. You can set your own hours, your own pay, work from home, have full control over your product, and even get your kids in on it. I know a lot of moms who have opened their own Etsy shops and sell handmade clothing, blankets, stuffed animals, jewelry, pallet furniture, you name it, and have had MUCH better results than working those sale jobs.

    Just my two cents! 🙂


    1. Thank you for taking the time to comment Jan! I agree, direct sales are not for everyone. This is a guest post so it’s not my personal opinion, but some people do seem to be successful (although, like you, I know of quite a few who have given up). A lady down my street does very well with Avon, but I see her out every say so she really puts the hours in!

      Like you say, whichever route you choose as a way of earning money, it starts slow. I love Etsy, I usually crochet a stock over the summer and sell it for the autumn/winter months. It’s a labour of love but it provides a fab sense of achievement!


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