With Mother’s Day just around the corner (on May 12th), this week’s top reads are all about celebrating mom, and the important female role models in our lives.
In the personal finance section, Gail Marksjarvis discusses the motherhood penalty and how to close the gap, the personal finance writers at Make Change share stories about financial advice they received from their moms, and Zina Kumok lists five important conversations to have with your mom this Mother’s Day.
In the personal interest section, Anna Sraders has 30 gift ideas for mother’s day, Karla Alindahao lists the best 100 brunch restaurants in America from Open Table and Olivia B Waxman has the story of how Mother’s Day came to be.
The price women pay (which, according to numerous studies, amounts to thousands of dollars) to leave the workforce and care for children or retire early with their spouses is called the motherhood penalty. When they re-enter the workforce, or move back up from part-time work to full-time work,women often fall behind on pay and within their roles at work.
Over a lifetime, mothers with one child earn 28 percent less than childless women…For each additional child, women lose another 3 percent. The sacrifice in dollars is startling. Women without children are paid a median of $3,850 a month; mothers earn about $1,278 less each month, according to Rutledge.
In the event of a divorce or widowhood, women who experience this penalty are left in a vulnerable position, lacking financial support. However, in this article, Gail Marksjarvis says that it is possible to start closing the gap. To learn more about avoiding the motherhood penalty, click here.
Mom knows best, and financial advice is no exception! In this article, the personal finance writers at Make Change discuss some of the best financial wisdom passed down to them by their moms. They share personal stories of how they applied that advice to their lives for financial success and happiness.
Read their stories, and get inspired here.
You may be planning a lovely Mother’s Day full of gifts and flowers for your mom – and that’s wonderful! However, have you had the opportunity to sit down with your mom to ask her important questions about estate planning, long-term care, and retirement? While these conversations can be difficult and emotional, there is nothing more loving than giving your family the gift of a well thought out plan!
“When it comes to your mom’s estate planning needs, like drafting a will or a healthcare proxy, it’s helpful to remind her that having these documents in place will make an already difficult time easier on your family.”
Zina Kumok helps you to map out and start these conversations in this article.
If you want to make Mother’s Day special, complete with personal touches for your mom, but are out of gift ideas, this article is for you! No matter the size of your budget, Anna Sraders of The Street has you covered with this list of 30 gift ideas, from handmade painted pictures to Game of Thrones mugs, to gardening tool sets.
Click here for the full list.
If Mother’s Day means a special meal out with your mom, you’ll want to check out this list from Open Table, the online reservation system, of the best brunch places to treat your mom on May 12th!
“On Mother’s Day 2018, we seated more diners than any other day that year and recognize that celebrating Mom is a priority for our diners,” OpenTable’s chief dining officer, Caroline Potter, said in a statement. “The honorees on this year’s best brunch list are creating experiences that will dazzle her … with sublime drinks and dishes and friendly service.”
For the full list, and to snap up your reservations today, click here.
Every year we celebrate Mother’s Day on the second Sunday of May – but do we know why or who is responsible for the creation of this special day? The father of Mother’s day was President Woodrow Wilson, who, on May 9th, 1914, signed a proclamation declaring the second Sunday of May “a public expression of our love and reverence for the mothers of our country.” The mother of Mother’s Day is thought to be Anna Jarvis, a copywriter who started the movement that led to the proclamation. However, throughout history many people have come forward claiming to be the first to come up with the idea.
But Jarvis wasn’t the only person to try to start a holiday dedicated to mothers.
One notable person who might also have a claim to that fame: Jarvis’ own mother, had come up with such an idea in the mid-19th century. Her vision for Mother’s Day, however, looked very different from the gift-centric holiday of modern times.
For the full history of how Mother’s Day came to be, click here.