Getting through the last year and a half has been a miracle, and we have moms to thank for holding down the fort during overwhelming times. While some moms were staying at home, others were trying to balance careers and families on the home front and both were taking on more hours at home to make sure that their families had what they needed. 

Moms became even more involved in schooling and finances since the beginning of the pandemic. Their involvement became more of a necessity to make sure that their families were consistently schooled, safe, and healthy all while managing income and expenses amidst the lockdown induced panic. Entrepreneurship and money management has been on the rise and can actually be a game changer when it comes to helping your kids succeed in that department as they get older. Being that moms are usually CFO of their household’s finances, they can have more of an impact on the success of their kids’ financial literacy. One of the best ways that parents can foster entrepreneurship in their kids, according to the Black Business Guide, is by leading by example. Children of entrepreneurs and community-driven parents are often on the road to doing the same.

Through chores and allowances, learning about teamwork and problem solving, and understanding the value of community involvement are great foundational ways to get your kids prepared for their future. The entrepreneurial spirit comes from parental leadership; exploring business options and interests is going to be useful for getting them excited about fiscal responsibility, and other great opportunities to get involved with. Parents are always going to be the first example kids look to when it comes to achieving their dreams, planning for the future, and their expectations of themselves and others. This is a bittersweet position as kids learn to become independent; they will lean into the examples of their parents. Having that boost of financially responsible examples really help with their future success and develop a healthy concept of money. Moms are a great help with the examples that they set for their kids since their involvement has gone up to over fifteen hours a day, seven days a week. 

From a study done by Salary.com, they have found that moms in the home, regardless of stay-at-home status, have an estimated salary value equivalent to $185K. This number showcases the extra work that moms are putting into it on top of their careers. Since the pandemic, the salary value of moms went up from $178K; there has also been a greater need for involvement with online schooling, finances, and other household management activities.

“In a year like no other, moms went to extraordinary lengths to keep things together on the home front, working, on average, 15.1 hours per day, seven days a week,” said Mary Crogan, Vice President of Marketing at Salary.com. “That’s an incredible workload, and one that encompasses everything from C-level responsibilities, to help desk manager, to teacher. It’s fitting that their salary value continues to rise, nearing the upper echelons of Corporate America.”

Moms were not only catering to their regular home front management, but now they are contributing to education, organization, and other means of making sure their kids are getting their schooling done. “We saw that mothers spent considerable time managing financial concerns and organizing the schooling of their family during the height of the pandemic,” said Lenna Turner, Director of Diversity, Equity and Inclusion for Salary.com.

Parents, especially those fulfilling maternal, or household roles are incredibly important for family support and function. Throughout the pandemic we saw more of our needs being met by moms and that isn’t something that should be taken lightly.