Thursday, March 6, 2008

Personal Finance as a Work at Home Mom

Many personal finance sites tend to focus on one end of the money equation: how you spend and save it. But in my blog, I'm focusing mostly on the other end of the equation, earning money. Specifically, I write about earning money as a stay at home mom and the unique challenges this situation presents.

When looking at a tight budget, there are two things you can do to improve the wiggle room and find money for underfunded categories (whether it be your blow money or your debt reduction).

1. Make more money.

2. Spend less money.

Really, it is that simple. You can do one or the other, or both, but those are your only options. (a huge inheritance just isn't practical for most people, and not something you can control in any case... well, let's just not go there.)

There comes a point for many people when it is easier to do the first than the second, and this is certainly true in my case. With two mortgage payments,a home equity loan payment, student loans and more, much of our monthly income is eaten up by set bills that we can't change (unless our house finally sells, but that's another post for another day).

We are very frugal with our so-called disposable income. We buy natural food in bulk, bake our own bread, plant a garden, drive old paid-for vehicles, shop at thrift stores whenever possible, and don't have TV, cable, or other entertainment extras.

To supplement my husband's income and pay for my children's Atrium class, among other things, I spend part of my day working from home, as an English grader and a freelance writer. There are many other ways to earn extra money. Here are a couple short articles with ideas for you:

How to Earn Extra Money
& How to Earn Extra Money at Home on a Computer.

1 comment:

SheGazelle said...

Stumbled across your blog and found that you, like me, are working the Dave Ramsey TMM plan. And I was quite surprised to read that like me you have no TV or cable!
Hope to continue to enjoy your blog in the future!