Monday, September 26, 2011

How Protected Are You, SAHM?

Recently, a hot topic in my ygroups was brought about by someone's two woman friends who were suddenly left by their husbands, without money of their own. This was a wake-up call to all, especially to one-income families like ours.

We trust the husbands we married, after all. We cannot imagine them falling out of love. Some will also never think of losing them to diseases or accidents. But the truth is, its not just separation or a debilitating illness that can throw a family's financial standing into chaos.

What if my husband loses his job? What if some tragedy happens? (I am writing this on the 2nd anniversary of Ondoy)What will happen, then, to a woman like me who has kids to support?

Hubby and I have always made sure we have enough money to cover a few months of him without work, that is our insurance cash. Then, we have some savings that's also available cash. Then, we have an insurance plan too.

But that's not enough. I have realized I have really failed myself the most when I didn't make income generating part of my days. I do not regret staying home and quitting my job, but I should still have continued generating income.

I have, in some ways, but I have not made it a priority. I should, though, if only to have my own money... or if only to have that extra income to fall back on. Plus, if I really want our own house, being a stay-at-home Mom shouldn't mean I shouldn't contribute to the purchase of it.


I know we should start checking out annuity rates online again. And I should make it a priority to update my insurance records to ensure my husband and kids are named beneficiaries. And I should be more actively earning from my online/writing gigs.

It's not just about the money. It's about being empowered, it's acquiring skills, being in the loop and taking care of my self-concept. Plus, it would also help me not to overanalyze my home situation and get my validation only from my family life.

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