More moms want to stay at home

Although many women would like to stay home with their children, working and contributing to the family finances has become a non-negotiable for a large percentage of them.

A recent online survey (by AOL Living and Women's Day Magazine) in the United States has revealed that 57% of women dream of quitting their jobs to stay at home with their children. Job-satisfaction was pretty low amongst the survey respondents, with 63% of them saying that their job was “just a pay-check”. Still, nearly two out of three of the women surveyed indicated they were worried about being retrenched and would work longer hours to keep that pay-check.

South African women also want to be at home. Women24’s recent Female Nation Survey showed that 71% of working women would prefer to work from home. Only 3% of the respondents in the survey are dedicated home-makers – the rest work. Around 24% of all households in South Africa are actually headed-up by women.

“While there are a great number of women who want to work and climb the corporate ladder, and luckily for them there are opportunities for them to do so, there are still many who’d choose not to work if they could.

“Unfortunately, not all mothers have the option of staying at home. Nowadays, many families rely solely on the income generated by the woman of the house while duel-income families, which make up an expanding segment of the country’s workforce, rely on the income of both partners in order to make ends meet,” says Robyn Farrell, managing director of 1st for Women Insurance Brokers.

Whether they choose to work, have to work, or choose not to work, Farrell says all women should value, and never underestimate, the contribution they make to their families – financially or otherwise.

“Few women realise the value of the contribution they make or acknowledge the void that would be left if they were no longer around. Stay-at-home moms are particularly oblivious to the contribution they make and the value they add to the household. It doesn’t mean that because they’re not earning a salary, the family finances wouldn’t be impacted if they became terminally ill or were no longer around.

“Women, whether they earn an income or not, need life insurance for the same reasons as men do,” says Farrell.

She concludes saying that there are numerous insurance and investment products available on the market today to meet the varying needs of today’s woman.

“No matter what your position is, you can, and should be making provision for your loved ones’ financial future.”