Motherhood: Career and Credit Vs Staying at Home

Many of us women want nothing more than to be a stay-at-home mothers who spend their time worrying more about scheduling a game on the board. But before you make the decision to give up corporate life and focus solely on raising their children, be aware that this decision could have a negative impact on your credit for years to come -. Unless you are planning a U.S.

Looking to the future

Consider your current circumstances and how they can change in the future. Just like many women, I was married and started a family with my husband - but it did not last. Although we all like to believe that marriage is a lifetime commitment, it is true that sometimes you just do not work.

Divorces are painful, but they can be even more so if you have left their careers to stay home with children. All of a sudden you are alone, without a job, not a permanent source of revenue outside of alimony.

If you were to suddenly find themselves divorced and unemployed, to take into account factors that might make it very difficult to support:

• The economy is just a jump
• High rates of unemployment
• a large gap in employment history
• New consumer credit account rules

of the economy and unemployment

These two factors go hand in hand. Uncertain economic times means that there are still very few companies grow and expand, in fact the reverse is true. With the country to reduce the total work force, jobs are scarce and competition for the few who have found is fierce.

As a single mother whose recent employment experience includes the CFO and COO of the household expenses Playdates and pre-school, your resume is likely to attract the attention of the employer.

Unfortunately, even if you land the job, research has shown that mothers earn 4 to 15 percent less than their counterparts without children. And we're all aware of the differences between the sexes when it comes to earning a paycheck for the same job.

Credit issues

New consumer credit rules enacted by Congress last year were intended to protect Americans, and students who were offered "no credit / no income" credit card with which they could stand large accounts could not restore. However, an unintended consequence of the new rules is that they affect the stay-at-home moms, too - you must have a source of personal income (not your spouse) to obtain a loan now. Of course, if you choose to be full-time mother, it is unlikely.

banks that offer installment and mortgage loans operate under much the same guidelines. Not only are lending less demand, prices are raised, even for those considered "good" credit risks. Want to buy a house on a loan or get a home equity loan now? Good luck.

If you have no credit or income in their own name, it will be almost impossible to establish now.

mother, and protect himself

situation is not all gloom and doom. There is a way to ensure that your children are raised you instead of strangers, while still earning an income. More and more single mothers are choosing to become entrepreneurs and it is easy to understand why. What other job allows you to work hours, work from home offices, and even include their children, if you want? Starting your own business - especially on-line companies - is an excellent choice

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The moral of the story is that it is necessary to protect themselves from potential future circumstances. As a wife and mother, it is vitally important to establish your credit rating and earn their income.