I’ll never forget the first time that I saw my mom sitting down in front of a stack of papers and receipts, punching away at her calculator and writing down numbers. I remember thinking that she was playing a game and asking if I could join in. I laugh now, thinking about the look on my moms face!
Now that I have two girls of my own, I understand the importance and responsibility that she felt in making sure our household budget not only paid all of our necessary expenses, but gave us a lifestyle of fun and flexibility, without worry. There is a lot that goes into budgeting for a household, and all of the ins-and-outs you learn to make the numbers work develop skills that are easily transferable to the workplace.
If you are like most moms that come to Parents Pivot for return-to-work coaching and support, you are probably surprised to hear that many of the tasks you do at home develop skills that are well sought after by hiring managers across many industries. It’s all about perspective, and budgeting is no exception. Let’s dive into a few ways that your household budget skills can help you land a job after a career break.
Mom Transferable Skill: Household Budget Management
As a mom who keeps the house, the people, the pets, and the extracurricular activities all running at or under budget, here are some specific budgeting skills you’ve probably learned that are impressive to share with employers:
You know what’s worth the money, and what’s not.
There are some things that are worth spending the extra money on (kids shoes that don’t wear out after 3 months), and some things that are not (one-time use Halloween costumes). You have a knack for identifying value and determining the best purchasing choice to help you and your family reach your goals.
In the workplace, that same skill is needed to spot where a company might be overspending and where they might be underspending. Cutting back or investing is a decision that is often hard to make, and one that you make weekly, if not daily!
When things change, you get creative within your budget.
Simply stated, a budget is a guideline for how much money you have to spend in a specific category. Sometimes, you have to flex those buckets to make ends meet. For example, if you have an unexpected health care bill because your child broke her arm, instead of dipping into savings, you may opt to reduce your eating out budget for a month or two. Or if your income suddenly drops for whatever reason, you may need to rethink your meal plan for the month to include food items that are more in season and on sale.
Businesses are no different. Revenue may be less than expected one month and more than expected the next. They need someone to help them balance the budget when things don’t go exactly as planned, to keep things on track towards their business goals.
You’ve accounted for the necessary expenses, while also adding in much-needed value.
If we only spent money on the absolutely necessary expenses, life wouldn't be much fun. No one NEEDS a TV streaming service, a night out at the local arcade, to play sports, or to go on vacation. But those things are a whole lot more fun than paying for water and sewer services! They are where memories are made and life happens.
In a business, knowing when and how to treat employees to a special lunch, allowing space for professional development funds, or knowing it’s time to host a fun team building day is critical to balancing the books and morale. Without the people that make the business tick, the budget doesn’t mean much.
I’ll add in a very special note here that you also know and recognize when to invest in yourself! Sometimes, you need to invest in new clothing for a job interview or a night out for your sanity. The same goes for investing your return to work transition. I often hear resistance from moms about paying for THRIVE group coaching and I hear you - when you aren’t making money, it’s hard to justify spending money on yourself. But remember that all smart investments end up being of benefit, often saving you money or ultimately making you money in the long term. THRIVE group coaching can help you land a job sooner, thus you’ll be making money sooner. You’ll also learn salary negotiation skills to help you get a return on your THRIVE investment. The bottom line: invest in yourself and you’ll reap the rewards on the other side!
You’ve simplified your budget.
No mom has ever said, “I need to make this complex.” And a household budget is no exception! You’ve figured out how to budget in the least amount of time while minimizing mistakes. In doing so, you’ve saved yourself loads of time and headache. In business, time is money, so knowing how to simplify a budget is an obvious desired skill.
You know where to look for hidden opportunities.
In my local community, you can pay $15 per person to visit the Art Museum on any given day of the week…except for the first Sunday of every month when it’s completely free for everyone! Hidden opportunities like that abound in mom life, and you’ve become an excellent detective to find them.
This mom transferable skill is probably on the top of every hiring managers list when budgeting is a main responsibility for the job. Those hidden opportunities to save money may seem like pennies at first, but added together and overtime, can mean thousands of dollars saved for a business.
You focus on not just spending within the budget, but also building savings.
Many moms are hyper aware of their household budget because they have taken time off of work to care for their children. That usually means a one-income household has to support several people. You take great care to spend within the budget, but also to put money away for a rainy day or an unexpected emergency.
The health of any company depends on building up savings for the same reasons. You never know when you need to spend expected funds, and having the wisdom to save as part of the budget is needed for anyone stewarding a business budget.
OTHER MOM TRANSFERABLE SKILLS
Budgeting is just one of many transferable mom skills that you possess and hiring managers want. When preparing your resume, cover letter, and interview talking points, consider other mom skills, such as teamwork, relationships building, research and problem solving, adaptability and agility, strategic thinking, communication, motivation, and organization. For even more mom skills that transfer to the workplace, click here.
