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How much is mom worth?

MMI Copywriter

By Kim McGrigg, MMI Community Manager

It’s a well-known fact that you can’t put a value on the work a mother does. But what if you could?

The experts over at decided to give it a shot for their annual Mom Salary Survey. They broke down motherly duties into ten titles: daycare center teacher, housekeeper, cook, van driver, psychologist, computer operator, facilities manager, nurse, laundry machine operator, and CEO.

Then, based on the survey results of more than 6,500 moms, they determined the time mothers spend performing each task. The researchers then calculated the time spent on each job with the job’s average salary and came to the conclusion that the annual salary for a stay-at-home mom is $115,432. The salary for a working mom was calculated at $63,472 (not including the salary she earns in the workplace.)

At those prices, we should all be lucky mom’s not charging for her hard work. So although Mother’s Day has now passed, a mother’s work is never over, so make sure you show your gratitude more than one day a year.



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Store credit cards: To open or not to open?


It’s a question most customers hear when checking out at any retail store: would you like to open a store credit card? This is then usually followed by all the perks and benefits of opening a card: save 20 percent on your purchase, get coupons in the mail, free hemming services, etc. With all the perks thrown at you it’s hard to ignore the offer.

Before opening a store credit card, consumers should be conscious of the pros and cons of store credit cards. As a consumer, the key is to understand credit and how to use it. There is a lot of financial responsibility when owning credit cards.

Below is a look into owning store credit cards and tips on how to effectively manage them.

Things to consider

  • New credit accounts for 15 percent of a credit score.
  • Consumers need a diverse mix of credit on their credit report for the best score i.e. home loan, auto loan, student loans, and/or credit cards.
  • Store credit cards usually have higher interest rates ranging from 22.99 percent to as much as 29 percent.
  • There are perks to store credit cards such as discounts, reward points, coupons, and some even have short-term financing on major purchases.

      Understand credit

      Don’t open a store credit on impulse or feel pressured to open one. Having one store credit card isn’t a bad idea, especially for those establishing credit for the first time. Before opening a store credit card do your homework. Know what the interest rate is and shop around for better deals, understand the repayment options and how many days are in the billing cycle, and be aware of any potential fees associated with the card.

      Research benefits

      Look at all the benefits of the card and make sure they are appropriate for your situation. If owning a store credit card offers incentives such as discounts or coupons and you frequently make purchases at that store it may be worth getting a store credit card.

      Know your limits

      Only charge what you can afford to pay back monthly. Since store credit cards have higher than usual interest rates it is beneficial to pay the balance off monthly. Otherwise the interest will cause the balance to grow tremendously and will take longer to pay off.

      Resist temptations

      Don’t get tricked in with the incentives. Be wise when opening and using store credit cards. Buying something just because it’s on sale or you have a coupon is an easy way to get in over your head in debt.


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    Money Management International (MMI) is a nonprofit, full-service credit counseling agency, providing confidential financial guidance, financial education, counseling, and debt management assistance to consumers since 1958. MMI helps consumers trim their expenses, develop a spending plan, and repay debts. Counseling is available by appointment in branch offices and 24 hours a day, 7 days a week by telephone and Internet. Services are available in English or Spanish. To learn more, call
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