Mumpreneurs overcoming the financial impact of motherhood

91% of Australian women acknowledge that taking themselves out of the workplace to have children has an effect on their financial position and constitutes a financial sacrifice to them, according to a new poll conducted by leading cosmetic company, the Heat Group.

Whilst more than half of the women polled agreed the financial sacrifice of motherhood was still worth it, Gillian Franklin, Managing Director of the Heat Group asked why women were still being forced to bear the brunt, particularly when the cost of motherhood not only affected the individual but the whole economy.

“With a staggering 62% of women stating motherhood had a long-term effect on their financials and 12% of women simply opting not to have children at all because of the financial concerns, surely we should be exploring options that lessen the impact on our economy. One option is tax-deductible childcare to give women the incentive to return to work and be an active participant in the economy.”
The poll also found that 92% of women compensated their reduced earning ability with a drop in spending, substituting with cheaper brands and saving less. Only 4% of women believed that their partner’s income could cover any loss of their wage incurred by motherhood.

“Australians should consider how we can better support mothers, including the provision of paid maternity leave being considered an investment in business’ performance not a cost. There can be no argument that businesses benefit from staff longevity, retention of intellectual property and a team that is proud and motivated. These are some of the many benefits of supporting women as they grapple with the challenges of raising children,” said Gillian Franklin, Managing Director of the Heat Group.

Connect2mums recent survey has found that many families are finding their own solution to the need to balance family and financial stability with an ever increasing trend for talented mothers to create their own businesses. While its not for everyone and can be extremely challenging to manage, these innovative 'mumpreneurs' are finding success both professionally and as mothers.

Share