Fun, kids! When you become a mother, money is probably not the first thing on your mind. But those koters cost money, and a lot of it sometimes. How do you manage that? In Cots & Expenses, mothers therefore lay their finances open and bare. This time Jitske is speaking.
Everyone is different, and so are mothers! Therefore, our regular column Koters & Expenses features all kinds of moms. Mothers with adolescent children, mothers earning a ton a year, mothers working part-time, you name it. So, stay tuned! Want to participate (anonymously) too? If so, please email evie@thisiselfin.com subject to Koters & Costs.
Hi Jitske!!! Who are you and what do you do?
‘I am Jitske Lochtenberg and I am co-parent of two wonderful and spirited daughters aged six and eight. As a business healer, I help women entrepreneurs with children toward financial independence. I average about 30 hours a week doing that.
How much do you earn with that?
‘I pay my salary myself, and it’s usually between 2,800 and 3,500 euros net. It depends on the turnover what comes in per month. I earn more now than when I was employed and didn’t have children, so I’m very happy with that.
And are you saving?
‘Yes indeed! I have several piggy banks that I divide my money between. This way I have a pot to do fun things with my girls, but I also save for their studies. And there is a general savings pot, for when they want to get their driver’s license, or furnish their house. They get those at eighteen. Of course, I have a buffer for when something breaks in the house, but I also put money aside for my beloved solo vacations. And oh yeah, I’m also saving for future investments and building for retirement.
So lots of savings for your children. What do you want to support them financially in?
‘I am currently saving for four years of tuition and the cost of books. I hope to invest in real estate in about five years.
Ideally, I will buy a house in Utrecht, which I will first rent out before my daughters go to college. I think that’s a nice idea, then they have a place to live on their own anyway if they want to.
What was a learning moment financially?
‘My mother has always worked alongside her children. She was building a career, as was her husband, who worked four days a week. For me, equality in work opportunities and parenthood between men and women was self-evident, but for my then-partner that did not appear to be the case. I found out that I had a lot of patterns and old beliefs when it came to finances, career and motherhood. “Investing is scary, I don’t understand that”, “my husband is breadwinner, so I don’t have to work more than two days”, “getting rich is not necessary” and so on. In doing so, I unwittingly sold myself, and many other women with me, short. I started working with those ingrained beliefs, and now help other women entrepreneurs do the same.
What is your financial tip for moms (to-be?)?
‘Be very conscious of the choices you make when it comes to your work, career and financial independence. Don’t fall into patterns of how things were at your home, how others fill in motherhood or how you think they should be, when you feel you want something different. There are many ways to be financially independent and to be able to be there for your children, so don’t let that stop you.
