Staying Home With Your Kids, When You Can’t Afford It.

This is a super heavy one today ya’ll, but I feel like it needs to be said. I have struggled with this big time. For me being a stay-at-home-mom was something I was called to do. Until all three of my girls are in grade school, the cost of daycare just isn’t possible on our super tight budget. So if you are working and wish you could stay home, or if you are like me and already a SAHM but money is to the penny, here are some amazing things to consider why you CAN stay home and why you can make money from home!

Tell me your root reason why you want to stay home? Is it more quality time with the kids? Is it a freedom of schedule? Is it to alleviate stress? Really take some time to chew on this, dig deep and do some soul searching. Maybe even ask your spouse or S/O what their why would be for wanting you to stay home?

I feel like people avoid talking about money and budgeting because it can be so overwhelming.  Inevitably when money is tight it causes major stress on you, your relationships and the flow of your home life. But when it comes down to it, is it an income problem or a spending problem? Well, girl there is only one way to find out… so get out a notebook, or excel spreadsheet if you’re a nerd like me and let’s crunch some numbers.

First let’s get those credit card numbers. Write down how much is on each credit card and how much your minimum payment is. Don’t have a heart attack, the good parts coming.

Now you need to figure out where is your money going? I want you to record every penny for one month. The easiest way is to print off or copy your digital bank statement, then copy and paste into your excel spreadsheet. Once you’ve got these numbers, I want you to divide them into 2 columns. Go through EVERY purchase and decide which is a necessity and what are wants? Just so you know by necessity, I mean what do you HAVE to have to survive… Food, gas, rent/mortgage, car payment, electric, etc. Netflix, phone bill (for now), miscellaneous subscriptions, etc. are NOT necessities, they are luxuries.  

Now it’s time to evaluate. Add up your income, and subtract the things that were necessities. Then one by one add back in the luxury items based on importance to you, add as many as your remaining budget allows. Now earlier I mentioned the phone bill as a luxury, and the reason I said this is because most people haven’t reevaluated their options. For us ATT pay-as-you-go with unlimited for my hubby and 3gb for me since I’m home was more than enough. We pay UNDER $100 a month total. Take time and see what your options are with other providers, and other plans. An extra $100 a month from this change could be huge for you.

I would also take time to do this with all of your bills. Ask yourself ‘Can I get this cheaper elsewhere?’, I have found that most people don’t know that you can call every 6 months and lower your credit card interest rate, you can also move the balance around to different credit card companies taking advantage of their no-interest promotions; yes there is a transfer fee however this is usually much less than what you would be paying in interest. Call around for insurance quotes or use an insurance agent that can do this for you at no charge. Reevaluate every bill to see where you can save money.

Now let’s get to the good stuff! Do you have gifts that could help you produce income from home? What are you good at? Do you craft? Do you enjoy cleaning? What do you enjoy doing? For me, my gifts are writing, talking, sales, dancing, hiking/outdoors, and animals. Really take time to think about this. What are you really good at?

Now considering everything you wrote down, jot down some ideas of things you could do to create income from home by doing something on your list. Make the list as simple and also as extravagant and as seemingly impossible as you can. There are no limits! Reach for the sky girl.

I’ll do another post or podcast soon elaborating on stretching the budget you’ve created to maximize how far the money goes. Just know that I am here to help. Message me personally on Facebook or comment and I would love to help you do this. It’s time to put your happiness and your family’s happiness first! No budget is too small. You are a fierce, beautiful mama to be reckoned with.

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