3 Tips for Getting Your Finances in Order Before Becoming a Work-at-Home Mom
Is your job driving you crazy? Do you dread Sunday nights because it means Monday, and the start of another work week, is just around the corner? Do you come home at night stressed from another day at the office?
If so, you may want to throw caution to the wind and take
the leap to self-employment sooner rather than later.
I was employed outside the home for 10 years, and I really
only enjoyed my job the first six or seven years. The last few years were agony.
However, I should have taken better steps to prepare myself for being a work at home mom. If I could do it over again, here are the ways I'd prepare myself financially:
However, I should have taken better steps to prepare myself for being a work at home mom. If I could do it over again, here are the ways I'd prepare myself financially:
1. Cut out the extras.
Give up the extras now so you won't feel so deprived when
you quit your job. You'll likely find
after a time that you don't even miss or need the extras you used to think were
necessary. After all, when you work at
home, lunch out becomes not only less necessary but an interruption because you
have to leave the house and interrupt your work flow.
2. Create a financial cushion.
Desperation is not a good place to be when looking for
work. I find that the more desperate I
feel financially, the more likely I am to repel clients or to accept a job for
less than my time is worth.
If you're in a comfortable place financially, you're more confident and will likely attract customers. You'll also be willing to turn down a job that offers meager pay for the time commitment involved.
If you're in a comfortable place financially, you're more confident and will likely attract customers. You'll also be willing to turn down a job that offers meager pay for the time commitment involved.
3. Get in the habit of budgeting.
Get in the habit of budgeting and tracking where your moneyis going so you can seal any financial leaks before you live on a tighter
income. Then, when your income
increases, you'll be able to keep more of it rather than giving in to financial
whims.
What other financial
tips would you offer those considering becoming work at home moms?
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