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The Money Issue

I really wanted to send this on a Monday, because I want you to pay attention. How are you doing mama? Last week, so many of you reached out to me concerning what I shared on my Instagram Stories around Money. I actually barely scratched the surface, because obviously, I am not a financial advisor.

And the honest truth is that, I am also still learning about how to build and manage wealth. In this issue, I delve into our bookclub meet up coming up on Nov 1st. If you will like to host one in your city, please let me know. We are looking for hosts in Plymouth, Rochester Hills, NYC, Miami, Toledo and Atlanta. You can host a mini bookclub in your home by the way. I will be inviting my personal financial advisor to the bookclub. She literally saved us! We will try to livestream the event from Grabbagreen in Birmingham, MI. This is a free event btw, and you can RSVP directly on our site

We will be talking about the cost of raising kids, share tips for what you can do to stay on budget, defeat debt, and feel financially secure. Another component is really having a financial framework that supports your current lifestyle, and key actionable steps to protect yourself and your family. Mamas, you don't need to be making gazillions of dollars to get your financial sh*t together. The sooner you understand your financial health and wellness, the more creative and ambitious you get to achieve, save and invest properly, so that you can live the life you've always wanted. If you ever want to talk more about perfecting your money move personally or for your business, shoot me an email mama.

Xoxo,
Blessing

MH Reads

We have been reading "You Are BadAss with Money" by Jen Sincero. I really want to encourage you to pick up this book and read along with us. Feel free to RSVP here to join us for FREE at Grabbagreen on Nov 1 at 6:30pm.

MH Money 

Here are some resources our team put together on how to get ahead on the money game. PS, we have one fireside chat and one break-in session at Mother: The Summit specifically on money and how to make it work for you, your family and your business. 

1. Moms Still Earn Less Than Childless Women according to studies. The study found that when correcting for education, occupation and work experience, the pay gap for mothers with one child rose from 9% in the period between 1986 and 1995 to 15% between 2006 and 2014. For mothers with two kids, the gap held steady at 13% and stayed at 20% for mothers with three or more children.

2. The Financial Implication of Motherhood - A working mom combines a career with the responsibility of raising a family. But working moms aren't just those who participate in the labor force. Working moms are the stay-at-home mothers who work in the home and the women who work outside the home while managing family responsibilities. For all moms, there is a balancing act of work, finances and raising children.

3. The Hidden Penalty of Motherhood and What It Cost Us. Bosses and co-workers, moreover, might see a new mother through a “haze of femininity.” Suddenly read as sweeter, more emotional, and less aggressive than her pre-motherhood self, she’s no longer perceived to be a go-getter at work. And, if mothers break through that haze, showing themselves to be just as efficient and effective, they may be seen as a bad mother—that is, a bad person—and penalize.

4. I have a Financial Architect, You Need One Too. Ever heard of a Financial Architect? Two words that seem unrelated. “Financial”, meaning pertaining to money decisions, and “architecture”, meaning the creation and design of a project. If you want to build a home, you probably are not going to start by picking out the faucets and light fixtures. Though they are important elements of the final structure, there are so many paramount decisions that must be made before the finishing touches polish the design. Financial planning needs to be approached with the same methodology. Can you imagine trying to build your dream home without an architect? Just because you could do it, would you want to do it? If not, it is because you trust that the architect knows some things about design that you probably do not.

5. How Much Does It Cost to be a Mother? The cost to raise a child from birth to age 18 is pegged at $250,000, but this number represents only out of pocket costs — food, clothing, extra-curricular activities, and so on. It doesn’t reflect the hidden costs and sacrifices parents make in lost income by switching to less demanding jobs, declining promotions, switching to part-time work, or even withdrawing from the workforce, temporarily or permanently.

And  these costs are not borne by each parent equally.

Mothers disproportionately shoulder the financial, as well as physical and emotional, burden of raising children because they are almost always the primary caregiver. Their role is reinforced by cultural stereotypes, societal expectations, and our own biases.


For more about money in motherhood, be sure to RSVP to our next bookclub event :)

MH: The Summit

We are so pumped for the Summit taking place on Oct 20th at the gorgeous Madison Building overlooking stunning views in the heart of downtown Detroit. We are expecting 200 guests including you, vendors, partners, sponsors and press/media. There is so much to look forward to if you will be attending.

We will be sending out emails to all attendees this week on how to sign up for headshot, glam, rooftop yoga and more! We are super excited for this opportunity to get ambitious women together to learn from each other - equip, elevate and invest in one another. Our line-up of speakers is listed here, and we have lots and lots of swag and giveaways from our partners and sponsors that you can definitely start looking forward to. If you have any questions related to the Summit, please email nicole@motherhonestly.com, she has answers to everything. An FAQ is also available on  our website. For example, babies in arms are welcomed! :)

MH MasterClass

Join our next MasterClass on maximizing your impact at work and in business. Because motherhood is super time-consuming and mamas have so much on their plate, we created a course that will help you get you together in no time, and help you perform better at home and in your career/biz. Register here.

MH Collective

Want to join the Collective and connect with other ambitious women who are thriving in and beyond motherhood? Membership is currently open! 
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