Why Stay-at-Home Moms Need Separate Savings Accounts

You may not make a paycheck, but you certainly earn a little of your husband's paycheck, don't you? This article discusses why having a separate savings account is a good idea for stay-at-home moms. Use this information and these tips to help you prepare for the worst.

Why Stay-at-Home Moms Need Separate Savings Accounts
By [http://ezinearticles.com/?expert=Mishaun_Taylor]Mishaun Taylor

If you're a stay-at-home mom, you may not even have your own savings accounts. Many stay-at-home moms take care of the money and the bills, but they do it all through their husbands' accounts. If this is you, read this article now to determine why it's important that stay-at-home moms need separate savings accounts.

His Money, Your Money?

The first thing you should realize is that you are entitled to some of the money that your husband brings home. After all, you stay at home and take care of the kids, handle the chores around the house, you might pay the bills and much more. Just because he's the one out there making the money doesn't mean you're doing any less work - in fact, you're probably doing more! In fact, even in the eyes of most courts, you are entitled to half of what your husband earns. So, putting money into a separate account should not make you feel guilty or as if you're doing something wrong.

Looking at the Possibilities -

No one wants bad things to happen in their marriages, especially stay-at-home moms. However, sometimes bad things do happen. Take a moment to think about the worst thing that could happen to you. What if your husband files for divorce? What if he decides he wants to be with another woman? You've spent a long time taking care of the things at home without pay - and if your husband leaves, what will you have?

With no income, how will you get an attorney to handle the divorce? Where will you live? How will you feed your children? If you've been putting money back into a savings account that belongs to you - you will have some money to help you get back on your feet in case something like this would happen! While this is a terrible thing to think about, it's also realistic to be prepared for something like this!

Tell Him or Not?

If you know your husband won't care, then tell him. Simply say that you've started saving some money for a rainy day. Otherwise, keep it a secret if you must. While it may feel like you're doing something sneaky behind your husband's back, the truth is that you have to think of your future and your kids' future. You may never need to use your money for the reason above, but then again you might. If you want to take money without your husband finding it missing, simply take a small amount at a time. You could do a small percentage that your husband would never ordinarily notice was gone.

It's difficult to think about doing things our husbands wouldn't approve of - such as putting money into a separate savings account. However, in this day and age, you can't place all of your dependence on your husband. Take care of yourself and your children by planning for the worst but expecting the best! By having this account, you will be protecting both yourself and your children in the event of an emergency!

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