How to Grow Rich While Raising a Family

Laura interviews Kim Palmer, author of the new book Smart Mom, Rich Mom. Both men and women will take away smart tips to prepare for parenthood, adopt healthy habits, and make difficult choices that pay off in abundance during the financially challenging career and parenting years.
Laura Adams, MBA
3-minute read
Episode #447

How to Grow Rich While Raising a FamilyKim Palmer is a personal finance writer and author who was the senior money editor at US News & World Report for nine years. When she became a mom, she realized that she'd need to approach her finances and money habits in a completely new way.

In this interview we talk about her most recent title, Smart Mom, Rich Mom, which will be available in June. It chronicles people who have stayed in the game--full-time, freelance, self-employed, and more--and emerged more prosperous and empowered.

We discuss how women today are navigating the financially challenging career and parenting years. She shares advice and tips to help you adopt healthy habits and make difficult decisions that pay off in abundance.

[Listen to the interview using the audio player in the upper right sidebar of this page or on iTunes, Stitcher, and Spotify; for Spotify, just search the app for "Money Girl."]

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Here are some of the important issues that I cover with Kim:

  • What it really costs to raise a child and how to prepare financially
  • Pros and cons of having kids early or late in your career
  • Finding flexibility at work while safeguarding your earning potential 
  • Saving for college and retirement despite increased expenses 
  • How to create healthy habits and make hard decisions that really pay off 

As soon as I became a mom, I felt the conflicting pressure of wanting to be home more--but also needing more money and time. - Kim Palmer

If you’re a parent or are considering having kids, I think you’ll get a lot out of my conversation with Kim—even if you’re a guy! The bottom line is that kids are expensive and having them creates new challenges when it comes to your career, budget, and financial goals.  

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Toddler and Mom Having Fun image courtesy of Shutterstock

About the Author

Laura Adams, MBA

Laura Adams received an MBA from the University of Florida. She's an award-winning personal finance author, speaker, and consumer advocate who is a frequent, trusted source for the national media. Money-Smart Solopreneur: A Personal Finance System for Freelancers, Entrepreneurs, and Side-Hustlers is her newest title. Laura's previous book, Debt-Free Blueprint: How to Get Out of Debt and Build a Financial Life You Love, was an Amazon #1 New Release. Do you have a money question? Call the Money Girl listener line at 302-364-0308. Your question could be featured on the show.