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My family budget has a line item for my income: my paid work as a writer, and my unpaid work as a mom. This budgeting strategy gives my unpaid labor value — it recognizes that I work 12-14 hours a day. This unpaid labor balances out in the expense column, so there's no positive cash flow from it, but it appears on the budget anyway. If stay-at-home parents spoke up more about our monetary value, we might be more accurately seen as aggressively employed. Maybe the judgments would subside if we spoke up more about the monetary value of unpaid childcare, starting at home with our personal budgets.
By using a zero-sum budget and planning my work strategically, I earned more than I had in 2019. Homeschooling my son in 2020 and 2021 was one of the best decisions I could have made for my family. The solution involved me working from home and homeschooling our son, which not only worked well for our family but also our finances. One of my favorite methods is zero-sum budgeting because it helps you give each dollar a specific job. Zero-sum budgeting also helped me make sure we were putting any extra income to good use to not only stay afloat financially but get ahead.
I lost touch with the day-to-day of my family's finances after having two kids. I have more agency now, and my husband and I are having great weekly conversations about our money. Sure, I was well-versed in our investment strategy, long-term financial goals, and credit usage, but that's about it. We both check balances daily, make sure bills are paid, and ensure we're on track with our monthly investment contributions. We started having weekly money meetings, making sure we were on track with our financial obligations and spending.
Experts say that even in a shaky, flaky economy like this one, most employers are apt to retain and reward their top talent. If you're going to ask for a raise, you need a game plan. "Treat the act of asking for a promotion like a project," Sarah Doody, the founder of the job search and career accelerator company Career Strategy Lab, told Insider. So, you need to ask your boss to be compensated and titled as a manager, she said. As you make the ask, Tilia recommended not using the word, "raise," but rather, "title and pay adjustment."
I had no idea many millennials think of stay-at-home parenting as "privileged." My experience did not align at all with what I learned is the common narrative among millennial parents, that parents only stay home when they can "afford to." One thing from stay-at-home parent discourse is true: unless you really are wealthy or privileged, most of us can't have it all. I think a lot more parents would stay home if they felt it was possible or that the benefits outweighed the cost. Sure, I know a few parents who stay home because their spouse alone makes what my husband and I could make combined, or more.
Like many stay-at-home moms I know, I work a side hustle that brings in income. But for most SAHMs, our paid work goes unacknowledged since it's not our family's main source of cash. Stay-at-home moms are known for cooking, cleaning, caring for kids, and an endless stream of other minutiae we call "homemaking." Thankfully, my family's financial well-being doesn't depend on my income; it depends on my husband's steady, 9-5 corporate finance gig. SAHMs contribute to their family's financial welfare by eliminating numerous household expenses through uncompensated labor.
I never thought I'd be a stay-at-home parent but the pull to be with my first daughter was strong. After having two children I was ready to go back to work, but it didn't make financial sense. As I transitioned to full-time, stay-at-home parenting, I did some financial coaching and started a podcast on the side. I was hoping to be able to continue writing and work part-time at a local high school. I'm sure that if I were working a full-time job I wouldn't be able to pursue these side projects.
Then in 2019, it paid $97 million for a mesh Wi-Fi system called Eero to help connect multiple smart devices in the home. Amazon's Eero mesh WiFi systems are shown inside the Amazon smart lab in Seattle, Washington, on September 9, 2022. Amazon's Ring Video Doorbell 4 is shown at the Amazon smart home lab in Seattle, Washington, on September 9, 2022. Or you may have actually told Alexa, 'Alexa, I'm leaving,' and to switch on your alarm system, for example," Koopmans said. Amazon's Smart Thermostat is shown inside the Amazon smart lab in Seattle, Washington, on September 9, 2022.
Slow growth, high inflation, and layoffs mean it's the perfect time to ask for a raise. It may seem counterintuitive, but an economic downturn means it's the perfect time to ask for a raise. Asking for a raise can also be a matter of timing and when you need to make more money. So, you need to ask your boss to be compensated and titled as a manager, she said. As you make the ask, Tilia recommended not using the word, "raise," but rather, "title and pay adjustment."
There are five steps two career experts say workers should take if they've lost their job. They suggest taking time for yourself, looking into legal counsel, and posting on social media. Pink slips are flying this holiday season, with dozens of technology titans and industry startups laying off workers. Workers need time to process their emotions before diving into the logistics of their severance and job hunting. "If you can, I always recommend utilizing legal counsel," she said.
The economic news is mixed: Inflation and interest rates are high, but the job market looks solid. It's possible that the Fed manages to cool off the economy and tame inflation without causing a spike in unemployment, said Flowers. "The outlook isn't as rosy as it was," Nick Bunker, the head of economic research at the jobs platform Indeed. If the thought of an economic downturn makes you fear for your job, you're not alone. Mentor someone else in your organization — if you're relatively new on the job yourself, take a student intern under your wing.
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