While you're not earning an income, there's a very real value for the difficult job you do at home. In fact, a 2006 Salary.com study determined that if paid, stay at home moms would earn $134,121 annually for their jobs including housekeeper, day care center teacher, cook, laundry operator, etc. There are many tangible and intangible services you provide every day for your family.

Life Insurance
It seems obvious that a working spouse would need life insurance to replace their income should they die prematurely. Yet it's just as important to insure the non-working spouse to ensure that the family could maintain their current lifestyle in spite of additional costs, such as paying for child care.

Maybe you want to be sure your children will have the financial means to attend college, regardless of what happens. Whatever your priorities, life insurance can be an effective financial tool for helping secure your financial future. Be sure you also have a will that names a guardian for minor children and an estate plan in place.

Get Involved with Finances
Conversely, what if something happened to your husband? Having sufficient life insurance protection is critical, but you should also be prepared to make financial decisions. Do you know where important financial documents are kept, or where your investments are held?

You could be responsible for your family's financial well being at some point, whether through divorce or death. Be prepared by getting involved with family finances and help take charge of your situation. With one income, more planning may be necessary. Consider talking with a financial professional who can help make sure you're on the right track.