This thesis investigates the financial implications of motherhood. Existing research indicates that mothers receive lower wages than comparable childless women. In the literature, the wage gap between mothers and women without children that cannot be explained by differences in human capital and labour market experience is often referred to as the „motherhood penalty“. This penalty, as a component of the wage gap between men and women, can represent a significant cost for women, especially those with children, and if overlooked, it can negatively affect initiatives to raise (low) fertility rates in European countries. The main goal of this paper is to investigate the influence of motherhood on women's income in Croatia. After reviewing the available literature that describes the various mechanisms through which parenthood can affect women's income, research hypotheses were formulated, and an empirical analysis of the impact of motherhood on women's income in the Croatian context was conducted. Data from the European Social Survey were used. The estimated regression models suggest that there are no significant differences in income between mothers and women without children in Croatia. However, these differences are visible in the case of women with lower educational attainment. Finally, policies aimed at reducing the financial burden associated with parenthood in Croatia are examined in the context of the findings from the conducted analysis.