When you look across America, there are many difference from the way we live, the food we eat, the clothes we wear, our ethnic backgrounds, and so on. We are all trying to obtain the American Dream. With hard work and perseverance, we all have the freedom and opportunities to make that dream happen. The American Dream looks different for everyone.
For my family, the American has been to own a home we can afford, own our own business, be home for our children (I’m blessed to be a SAHM/WAHM), save for our children’s college education and for our retirement. By taking charge of our finances early on in our marriage, we were able to purchase our first home only a couple years. We didn’t buy over our budget, in fact, it was a fixer-upper similar to the one we have now.
My husband had always dreamed of owning his own business in our early years of marriage. I am so proud of his hard work and dedication to make his dream a reality. Through decisions that were right for our family, we have been able to live well today and save for tomorrow. My hope is that my kids will grow up being responsible with their money, living within their means, owning their own home, and being successful in the career they choose.
I participated in an Influencer Program on behalf of Mom Central Consulting for MassMutual. I received a promotional item to thank me for participating.
Take Charge of Finances to Achieve the American Dream
A recent MassMutual’s State of the American Family Study has concluded that Americans hold 4 core values when it comes to handling their finances to achieve the American Dream.
- We put family first
- We are active in household financial decisions
- We are educating our children about money
- We are making plans to not burden our children with our care as we age
Put Family First…
As a mom, I put my family first in every decision I make from the food I feed my family to saving for their college education. Paying off our mortgage, not going into debt, and having a retirement plan also counts as putting family first. The MassMutual study shows that 51% of women place saving for their children’s college education is a top financial priority while only 40% of men do. That is a big difference. I found it interesting that men are more likely than women to focus on ensuring their family will be taken care of in the event of his death or a disability.
Teach Children About Money…
Another interesting finding is that about 1/2 of us agree that it is important to teach our kids about money, however most of us are not. We have all heard “money doesn’t grow on trees,” however are we teaching our kids that money isn’t just for spending but also for saving, donating, and investing. There are easy ways to do this including fun piggy banks that have spots for each category. Giving children the opportunity to earn money through chores or an allowance is a good way to teach about working for money, then deciding together how the money is to be handled.
Take Control of Family Finances…
It is no secret that our society has turned into a buy-now-pay-later mindset. This is a huge reason for America’s financial crisis that resulted in foreclosures and bankruptcies across the country. There is good news, the new trend is that Americans are now more involved and in tuned with their family’s finances. About 40% of us are more satisfied with our financial situations. I found it interesting that 2/3rds of Americans have set aside money to cover at least 3 months of expenses in case of an emergency. That is an impressive number of people that have used the economic downturn to protect their families in the future.
Achieve Your American Dream Today
A company that has been helping families provide strength and stability to their homes for over 160 years is MassMutual. MassMutual is there to help you create a financial foundation that will help you provide a solid foundation for your finances for today and well into tomorrow for your family. They can help you when considering your retirement, protecting your income, planning your children’s education, teaching your children about finances, preparing for rising health care costs, and more. Find out how MassMutual can help you and your family achieve the American Dream.