“Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network.”
Money Management is an important part of any home. We begin teaching our children at an early age and hope it carries through into their lives, giving them a nest egg. We think about life insurance for ourselves, but most of us don’t necessarily share this with our children.
Recently I read an article on Why Stay at Home Parents Need Life Insurance, and it made me think. I’ve been a stay at home parent throughout my life. It has worked for my family, and while we have had to make sacrifices, I wouldn’t have had it any other way.
After reading the article, I gave consideration to one of the quotes within the article: “If you died tomorrow, would you have the money to hire people to do all of the things that you do for your family on a day-to-day and year-to-year basis?”
I’ve just returned to the workforce, and I realize how much I did contribute to my families budget in that role as a stay-at-home-parent. There is childcare, cooking, cleaning, driving children to events, sports and friends’ homes, errands, grocery shopping, laundry and in my case I was a caregiver for my grandmother to some extent.
As we kneel down to teach those lessons of money management, we need to start including insurance. I cannot tell you how thankful I have been to have made the decision to pay pennies on the dollar for short term and long term disability when I learned I was pregnant or had a medical emergency that took me out of work. I know life insurance stories that have made me a believer that it’s better to have something to allow those left behind the ability to carry on the life they know without interruption. I have been a witness to the need for long-term care insurance and how it truly benefits the individual (and at times their partner).
Money management is more than putting aside a little cash for a rainy day, following a budget and staying in the black. It can also include planning for our future–retirement, growing old and life’s unexpected moments. Insurance plays a key role in the future. Having it can significantly reduce our stress, increase our longevity and give those we love comfort.