- So one question I get all the time is,
how can I contribute to the Baby Steps
if I am a stay-at-home mom.
So those of you getting at a debt,
maybe you're home with the kids all day
and you are like okay,
what can I do?
Is there anything I can do to contribute
to the finance of the household
and help us progress through the Baby Steps faster?
Well, number one, I really appreciate that.
I think that that is great.
Your willingness, and your creativity,
and your thought and motivation of like,
we wanna get through this stuff very quickly.
But I don't want you to discount
what you are giving to your family.
There's so much value,
there's like monetary value,
which I'll tell you in a second what that is,
but there's also just the intrinsic value of being humble.
And I think that there's working moms,
I think there are stay-at-home moms, there's both.
I mean, people are like,
every work, every mom's a working mom. And yes, 100%.
Looks different, different ways,
but you being home with the kids
is so much value there,
so I just wanna say that out loud.
Now, the monetary value of this,
you're actually saving your family
quite a few dollars, yep.
According to care.com,
it takes $200-600 a week
to care for an infant, okay.
So one baby, that much.
So lets say you pay for like 50 weeks a year,
because you are taking a vacation every now and then,
or Christmas, or holidays.
So 50 weeks a year could run you $10,000-30,000
for one kid.
So you're saving lots of money that way,
not having to pay for childcare.
For real, that is a huge expense for working moms.
And you're saving your family that kind of money.
Also, just the house cleaning, okay?
That costs a lot of money too.
If you're gonna outsource that,
according to housekeeping.com,
it could be close to $26 an hour.
So let's say you spend like an hour and a half a day
doing that kind of stuff. Mmm hmm.
You're saving your family-
Are you ready? $14,000.
Yeah, so in whole,
you're saving like $24,000-34,000 a year
by just doing the role you're already doing.
That doesn't even include cab driver, chef, therapist,
I mean, there's so many things,
so many hats moms wear.
So, don't forget that part
of the equation that you are doing a ton
just by being home.
Like it's crazy the amount of money you can save.
And, one thing I always tell stay-at-home moms though
is to make sure that you have life insurance.
This is huge.
So I would get around half a million dollars
if you're a stay-at-home mom.
And life insurance is, if something were to happen to you,
your family is gonna have to replace
all the work you've been doing.
And a lot of people are really intimidated
by life insurance,
but this is a huge gift you can give to your family.
Whether you're a working mom,
whether you're a stay-at-home mom,
whether you're a dad, or working dad, or a single dad,
if there's anyone dependent upon your income,
you need life insurance.
And I always recommend Zander Insurance.
They are seriously my favorite.
We had some friends that were talking about life insurance,
and I literally went to Zander.com,
pulled it up, typed in their information
as we're sitting there, and I was like,
look guys, look how inexpensive term life insurance is.
Zander is great because they shop so many companies,
they get the best rate for you,
and they walk with you every step of the way.
Winston and I, we use Zander.
I recommend my friends to Zander.
Like seriously, they are the best company
because it's easy, it's online,
you can do it right there
and you really get incredible rate.
So make sure you go to Zander.com to check that out.
Because again, even you stay-at-home moms,
you need life insurance.
Now if there are things that you do want to contribute
as a stay-at-home mom,
again, while you're on the Baby Steps,
while you're getting out of debt,
here's a couple of options.
Number one, become an economist.
So look at places that you can cut,
because by just saving $30 a week,
you're saving like $1,500 a year.
So you can start cutting things, looking at the budget.
Say, you know what, I'm going to be smarter here,
smarter shopper there,
and help us trim that budget,
throw that extra money at the the Baby Steps.
So whether it's getting out of debt,
the Debt Snowball, or the emergency fund,
you can become the economist,
totally transform the budget.
Number two, do online surveys.
This is kind of a funny one,
but you can literally make money
by taking surveys online.
So go to surveyjunkie.com or mypoints.com
and just start the process.
Just do some online surveys, make some extra money.
Number three, sell some stuff.
Talk about this all the time,
but go around the house and be like,
oh, wow, our kids have outgrown those toys.
We don't use this anymore.
And we have like four TVs,
we don't need that many, we'll sell one.
Look around the house at things that you can sell.
We have so much stuff in our houses,
and it's like get rid of some of it.
Again, not that you can never replace it
and go back to that stuff.
You can always go and buy it once you're out of debt,
have your emergency fund,
but it's a great place to earn some extra cash.
Number four, become a user tester.
Okay, some places will pay you like $10
just to get your opinion,
so just go give your opinion,
earn some extra cash on the side. It's great.
Number five, you can actually tutor kids
online with VIPKid. I've heard so many moms do this.
And so while your kids are napping or they're at school,
you can actually become an online tutor
and actually make some money doing that.
So it's a great place, VIPKid.
Number six, use cash-back apps.
If you're purchasing stuff, use some apps.
There's tons of them out there, like Shopkick, Ibotta.
There's a bunch of apps out there
that actually will save you money
and give you cash back when you make purchases.
And then number seven,
maybe you have a hobby that you can actually charge for.
My friend Christy Wright
has Business Boutique, and it's absolutely incredible.
And I'll put a link below to the Business Boutique bootcamp.
But you can check that out,
because it gives so much information
on how you can take your hobby
and actually start charging for it.
And be reasonable. Not like, hey,
go take out a $10,000 business loan.
No, we're not doing that people.
But how to make money by doing something that you love
and that you feel passionate about.
And again, maybe you don't do it forever,
but you do it for a short period of time
to earn some extra cash.
But no matter what you guys are going to choose to do,
do what is best for your family.
I think that that is really key.
So if you aren't married, talk to your spouse,
talk to your family
and see what's best for you guys.
It's gonna look different,
probably because the ages of your kids
maybe where you live seasonal life you're in.
I mean, there's so much up in the air.
But if there is a way for you to contribute,
and you guys choose that,
that's a great part of the family,
that you can take some time to do that,
then do it, and that's awesome.
Or if you're like, hey, you know what,
it's just a crazy season.
I think I'm just gonna rock it being a mom and
taking the grocery budget and really slimming it down.
Go girl. Like it's awesome.
So no matter what, remember,
do what's best for your family,
but short-term sacrifice, remember, long-term game.
So run, run, run, go as fast as you can,
because don't catch me, I'm the gingerbread man.
(click sound)
I'm such a mom. My kids, oh my gosh.
I'm gonna say, sprint fast, go hard.
Again, it's just for a short period of time.
You're not gonna live like this forever.
So good luck to you guys,
all of you on your Baby Steps.
(claps hands)
Go earn some extra cash.