7 ways for stay-at-home mums to be financially secure: Get insured, boost your CPF and other helpful tips
One of the biggest mistakes stay-at-home mums make is being completely hands-off with finances. With the help of finance experts, CNA Women has these simple tips to master your finances and secure your future.

A common mistake stay-at-home mums make is not bothering with family finances since their husband is the sole breadwinner. (Photo: iStock/Love portrait and love the world)
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You have hit “pause” on your career to be a stay-at-home mother and focus on raising your kids. But just because you are not earning an income does not mean you should wash your hands off finances altogether.
A common mistake many stay-at-home mums make: They think they don’t need to bother about family finances because their husband is the sole breadwinner, said Dinah Poehlmann, a finance coach at her own consultancy, Your Finance Mind.
“If the breadwinner loses their job, faces a health crisis or the couple divorces, the financial stability of the family can be jeopardised,” added Karen Tang, a certified financial planner and senior wealth management consultant at Infinity Financial Advisory.
In a divorce, stay-at-home mums from low-income families may struggle to even afford basic necessities or find alternative housing arrangements after being cut off financially, said Kaylee Kua, executive director of Daughters Of Tomorrow, a non-profit organisation supporting underprivileged women.
Financial insecurity might also come in later years where, with little or no Central Provident Fund (CPF) savings and diminished life and retirement savings, stay-at-home mums might be completely reliant on others to provide for their old age, said Sugidha Nithiananthan, director of advocacy and research at women’s rights and gender equality group AWARE.
If you are a stay-at-home mum, some financial planning will put you in a much stronger position. Plus, being money smart also contributes to the overall financial health of the family, added Tang.
1. DON’T SHY AWAY FROM TALKING ABOUT MONEY
“Schedule regular financial check-ins to discuss income, expenses, savings, and long-term goals,” said Tang. She recommends couples do this once every four months. You should have a clear understanding of your family’s financial circumstances.
“Ensure you have joint access to savings, investments, and insurance policies wherever possible,” she added. This includes joint ownership of property.

Transparency and access protect you financially, and also enables you to weigh in on important decisions and plan for retirement together. In the short term, it can also help you make better budgeting decisions to contribute to the family’s financial well-being.
2. HAVE ACCESS TO AN EMERGENCY FUND
Even if you and your spouse have decided to keep finances separate, it is still important to have access to an emergency fund – ideally enough to cover at least six months of household expenses – so you are prepared for life’s curveballs.
Poehlmann shared that when she was working in Jakarta, Indonesia, a fellow expatriate unexpectedly passed away in an accident. His wife had been so hands-off with finances that she had no access to emergency funds. The expatriate community had to come together to raise funds just so the family could return to their home country.
3. SAVINGS – EVEN WITHOUT A STEADY INCOME
“If you don’t have full clarity of the family’s finances, or if the main breadwinner prefers to manage it alone, start by managing your own allowance,” said Poehlmann.
“With the immediate demands of raising children and managing daily household responsibilities, the stay-at-home mother’s priority becomes getting through each day financially. This often leaves saving for retirement on the back burner,” observed Kua.

One useful tip is to “pay yourself first”, Tang said. “Set up automatic transfers to a savings or investment account to ensure consistent contributions to your future.”
You could also negotiate for a slightly higher allowance that enables you to save, as well as track your allowance, cutting out variable expenses where necessary to save more, Poehlmann added.
4. INVESTING FOR RETIREMENT
Even if you are saving monthly, the savings in your bank account will lose value over time because of inflation.
Over the past six decades, the average inflation rate in Singapore has been close to 2.6 per cent per year. In comparison, some savings accounts offer as little as 0.05 per cent annual interest.
“Once your emergency fund is in place, explore ways to make your savings work for you. Investing is generally always better than keeping money idle in the bank, as long as the investor understands the risk involved and the investment is suitable for her risk profile,” said Poehlmann.

If investors are looking to build a dividend-paying portfolio for retirement, Poehlmann suggested exploring blue chip stocks, market index funds and real estate investment trusts (REITs).
Blue chip stocks are shares of stable, high-value companies with a strong track record.
Market index funds are accessible via Exchange Traded Funds (ETFs). ETFs are diversified portfolios of top companies in a given market. They trade like individual stocks on exchanges, and help reduce risk through diversification.
Real Estate Investment Trusts (REITs) are structured entities that own and manage properties, distributing most of their rental income to investors as a steady income.
5 TIPS TO BEGIN YOUR INVESTMENT JOURNEY
Karen Tang, a certified financial planner and senior wealth management consultant at Infinity Financial Advisory, has this advice:
Learn before investing
Learn about the different types of investments, such as stocks, bonds and ETFs by reading books, attending webinars, or follow reputable financial blogs and YouTube channels.
Start with a small investment budget
Treat investing as a fixed expense, like a utility bill, and prioritise it in your budget.
Start small and learn as you go. You could begin investing with as little as S$50 or S$100 per month. Even modest contributions can grow significantly over time through the power of compounding. Plus, any mistakes will be more manageable and provide valuable lessons.
This approach also allows you to take advantage of dollar-cost averaging – investing a fixed amount regularly, regardless of market conditions. This strategy helps you avoid the stress of timing the market and averages out costs over time, reducing risk.
Diversify your investments
Spread your investments across asset classes such as stocks, bonds, real estate or funds to reduce risk. Diversification ensures that losses in one area are balanced by gains in another.
Invest for the long term
Choose investments with long-term growth potential to maximise returns through compounding. Avoid frequent trading, which can incur high fees and lead to emotional decision-making, such as selling whenever stock prices drop.
Review investments regularly
Monitor your investments regularly to understand how they are performing. Tracking helps build familiarity with the process and boosts confidence. You could also benefit from periodically assessing your portfolio to ensure it aligns with your goals and risk tolerance.
5. BOOST YOUR CPF ACCOUNT
Even if you are not working, you can make voluntary contributions to your CPF to build up your retirement savings, especially under the Special Account (SA),” said Tang.
Keep in mind that you can only access your CPF funds when you turn 55, provided you have met the required full retirement sum. If not, you can only withdraw a limited amount. So make sure to contribute only what you don’t anticipate needing in the near future.
Tang added that for voluntary CPF contributions, a portion will be directed to Medisave, which can be used to cover medical expenses such as MediShield Life premiums, Integrated Shield Plan premiums and hospitalisation.
Medisave and SA offer a high interest rate of four per cent.
Under the Retirement Sum Topping-Up Scheme, your spouse can top up your SA or RA to enjoy tax relief, Tang added.

6. ENSURE YOU HAVE ADEQUATE INSURANCE COVERAGE
Since your family depends on your husband’s income, make sure he has adequate life insurance to protect you and the children in case of unexpected loss of income due to death, disability or critical illness, said Tang.
Other insurance to look into include health, accident, critical illness and disability coverage for you and your partner. Also consider long-term care insurance in case of a medical emergency or health decline, she added.
That said, avoid over-insuring, Tang said. “Ensure premiums are affordable and do not strain the household budget unnecessarily.”
7. INVEST IN YOURSELF
“Leaving the workforce to care for children often results in significant career gaps. Returning to work later may be challenging, with potential difficulties in re-skilling and lower earning potential,” Tang pointed out.
Why not use your SkillsFuture Credit or set aside some budget for your learning journey?
“Pursuing new skills or certification can significantly enhance a stay-at-home mum's employability and increase her confidence in returning to the workforce,” said Kua. She suggested IT and digital skills, essential in today’s job market.
You could also consider starting a side hustle, or explore remote work opportunities with flexible hours, Kua added. These could enrich your life and also make it easier to return to work in the future if you so wish or circumstances change.
The information provided in this article is for general informational purposes only and should not be considered financial or investment advice. Readers should conduct their own research and consult with a licensed financial advisor.
CNA Women is a section on CNA Lifestyle that seeks to inform, empower and inspire the modern woman. If you have women-related news, issues and ideas to share with us, email CNAWomen [at] mediacorp.com.sg.