If Stay at Home Moms Got Paid a Salary…

Google the “stay at home moms salary” and you’ll find an array of articles and news stories estimating what we’re “worth.”

The number will range anywhere from $90, 000 to $130,000 a year.

Wow, I wish I could start getting paid yesterday!

Part of the formula for creating this figure includes all the tasks stay at home moms (and dads) do. It was something I had to consider when I estimated how much lift insurance I needed.

Stay at home mom salary, how much do moms earn, how much to stay at home moms earn

As A.J.’s primary caretaker, if I died my husband would not only have to cover my funeral expenses, but he’d need to pay someone for all the things I do without a salary.

Consider these expenses:

  • Full-time nanny search & salary
  • On call babysitter for last minute needs & nanny vacations
  • Preschool tuition
  • Family therapy
  • Home cleaning service
  • Personal shopper
  • Replacing my part-time income

Once I did some mental calculating, I realized my current life insurance policy may only be enough to cover one year of those expenses.

The same hold true for moms who work full- time because they earn a salary and in most cases, do as much as stay at home moms.

How do you calculate how much life insurance you’ll need?

Do you think you’re under-insured over- insured?

Disclosure: This post is presented by Genworth Financial 

where you can learn more about mortgages and planning ahead for your family’s future. 

All thoughts & opinions are 100% my own.

About Joyce Brewer

Creator & Host of Mommy Talk Show.
Emmy award-winning TV journalist.Wife & Mommy; Mom Blogger; Social Media Coach; Long Island, New York transplant living in Atlanta, GA.
Follow Joyce on Twitter @MommyTalkShow Author of Use What You Know: A Business Idea Guide for Moms featuring interviews with mompreneurs who created businesses using their skills & backgrounds.

Comments

  1. Amber Killmon
    Twitter: parentpalace
    says:

    Wow, it looks like I’m under insured!
    Amber Killmon recently posted..T-fal: Quality Cookware

    [Reply]

    Joyce Reply:

    Isn’t that a scary thought.
    I’m realizing I need just as much insurance as my husband even though he brings in a salary!

    [Reply]

  2. Very sobering calculations. It is so easy to look at the dollar figures and not think through all of the other costs, thanks for laying this out.
    Grown and Flown recently posted..The Tragedy Behind my Class Reunion

    [Reply]

    Joyce Reply:

    I’m sure I could think of 4-5 other things I do that you’d have to hire someone to do if I wasn’t here :(

    [Reply]

  3. Eliza
    Twitter: elizamccall
    says:

    I take issue with this to some extent. I still have to do all those things- cleaning, driving, cooking, etc. even though I work PT from home and PT at the office. I’m not disagreeing with the fact that SAHMs are hardworking. In fact I don’t think that you can put a price on what they do! BUT, I think that it’s a bit unfair to say that moms who work outside the home don’t do those things, too.

    As it pertains to life insurance, that’s exactly why we have me covered at the amount we do.

    [Reply]

    Joyce Reply:

    I hope you saw that I wrote in this post that working moms do the same amount of work inside the home…

    [Reply]

  4. Eliza
    Twitter: elizamccall
    says:

    actually I didn’t. Read it on my phone w a sick and crying baby in my lap!! I need to be more careful!

    [Reply]

  5. I have life insurance and so does my husband, but I often worry whether or not we have enough!
    Mariah recently posted..Plantlife Aromatherapy Candles Help Mom Relax (Abe’s Market Review)

    [Reply]

  6. Danielle
    Twitter: simmworksfamily
    says:

    We have life insurance policies but I highly doubt they are enough. We definitely need to revisit them soon.
    Danielle recently posted..Total Woman Gym and Spa Pink Anniversary Party in Support of the National Breast Cancer Foundation {San Diego Events}

    [Reply]

  7. You know, I really need to think about this. We need to re-evaluate our current life insurance this year – thanks for the reminder!
    Crissy recently posted..Obligatory Fall Leaves Photo Op

    [Reply]

  8. Ella
    Twitter: ellalaverne
    says:

    My insurance wasn’t really based on anything other than what I could afford to pay that day for insurance. I will rework the figures. Should I include Social Security (that’s rhetorical and political. I could have left it out, but I’m at home and need to chat!). But realistically we do need to make sure that whoever takes our children doesn’t have any financial worries.
    Ella recently posted..Survivor Stories: Patricia San Pedro (VIDEO)

    [Reply]

    Joyce Reply:

    You could include Social Security, but with the current political climate – do you want to bank on it?!

    [Reply]

  9. Kita
    Twitter: kreative10
    says:

    The kids and I have life insurance but my hubs does not we will be working on getting him some in the new year these are some scary numbers.
    Kita recently posted..Talk Tuesday

    [Reply]

    Joyce Reply:

    Kita,
    You can find some affordable term life insurance for your husband.
    I have AAA and bought a group policy for about $100 a year.
    But now I’d like to double the value of my policy – at least!

    [Reply]

  10. Darlena Slate says:

    This is eye-opening. We are clearly underinsured. Thanks for posting this – not something we’ve been prioritizing.

    [Reply]

    Joyce Reply:

    Thanks Darlena.
    Now you’ll have two children to focus on – so I can only imagine.

    [Reply]

  11. Karen Brown
    Twitter: KaybeeATL
    says:

    SAHMs are worth more than even what google states. That’s great that you are bringing to everyone’s attention to evaluate life insurance. Awesome post!

    [Reply]

  12. Lindsay
    Twitter: Lindsay_Blogs
    says:

    My husband and I have been thinking about this lately, too. We’ve got life insurance through our employer, but we realized that it’s barely enough to cover funeral expenses, really.
    Lindsay recently posted..#Cinchspiration Update: Month 4

    [Reply]

  13. I follow Suze Ormon’s advice. Calculate what needs to replaced on an annual basis and then multiply by 20. This way you can withdraw 5% per year and leave the principal intact.

    [Reply]

  14. Cynthia
    Twitter: richlymiddlecla
    says:

    Life is insurance is so important. I have a lot of friends who are stay home moms who have opted not to have insurance which I think it is critical for both parents.

    I think this was really interesting because my spouse and I were having a conversation a few weeks ago about my worth and what I contribute to our household. It was interesting because I told him that I was thinking about returning to work. He said if you do our expenses will increase. I never thought it about that way becasue working we will need housekeeping, nanny for before and afterschool care as well as childcare during school breaks. My husband does put money in my personal account twice month with a note, mom’s salary. I will say with the figures that you have calculated, I am feeling a bit under paid.

    Great Article

    Cynthia
    Cynthia recently posted..Weekend Inspiration

    [Reply]

  15. Katherine G
    Twitter: lalalamom
    says:

    I honestly have no idea how to calculate that.
    Katherine G recently posted..Book Review

    [Reply]

Trackbacks

  1. [...] shared how I feel like we may need more life insurance especially since I’m a stay at home mom. Even though I don’t have comparable income to my husband, my “duties” as a mom [...]

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