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Archive for October 13th, 2023

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Making Ends Meet as a Stay-at-Home Mom: Tips for Earning and Saving

As a stay-at-home mom, it can be tough to make ends meet. While staying home with your kids means saving thousands of dollars in childcare costs every year, it also means significantly reducing your household income. To make ends meet, you’ll either need to find ways to earn money from home or make some serious budget cuts. The good news is that with good planning and some hard work, you can maintain a high quality of life while being home with the kids! Here are some tips from The Virtual Consulting Firm to help you get started.

Launch an Ecommerce Business

One of the best ways to make money as a stay-at-home mom is to launch an ecommerce business. You could sell handmade products, have your own products professionally manufactured, or drop-ship items straight from the supplier. As OptinMonster suggests, you can also sell digital products such as courses, ebooks, printables, and online tools.

Before launching your business, be sure to choose a business structure and register with your state. Forming an LLC is usually a good idea for small business owners. An LLC will protect your personal assets and help lower your tax bill. To form an LLC without hiring a lawyer, you can use an online formation service. Just be sure to review your state’s LLC rules first!

Return to School Online

Returning to school online, specifically pursuing a business degree, can significantly boost your earning potential and open up a world of career opportunities. Online bachelor’s degree business programs offer flexibility and convenience, allowing you to balance your studies with work or family commitments. These programs cover essential business principles and practices that can be directly applied in the real world, enhancing your professional skills and knowledge. With a business degree, you may qualify for higher-level positions, negotiate better salaries, or even venture into entrepreneurship. So, if you’re considering advancing your education, online business programs could be an investment worth considering for your future.

Learn a Trade

Learning a trade can be a powerful strategy to enhance your income and job stability. For instance, pursuing a trade like welding offers numerous benefits. Trades often allow you to work while you learn through apprenticeships, thus providing an income even as you expand your skills. Furthermore, trade schools generally cost less and take less time than traditional four-year degrees, making them a financially savvy choice for many individuals. Welding, in particular, is a high-demand field with strong earning potential. For those interested in this path, resources like Welding Logic offer valuable information and insights to help you navigate the trade successfully

Try Freelancing

Freelancing is another great way to earn money from home. Think about how you can convert your existing skills into marketable services. For example, if you—like many moms—are great at organizing and managing a hectic schedule, consider freelancing as a virtual assistant. You could also work as a freelance writer, graphic designer, social media manager, transcriber, editor, or marketer. Pick something that you’re good at and you’ll have your first clients in no time.

Evaluate Your Household Spending and Build a Budget

It could take weeks to months to start earning a living income with your side hustles, so you may have to reign in your household budget for a bit. Sit down and evaluate your monthly spending and look for items you can cut. InspiredBudget.com lists several non-essential items you should be able to cut from your budget if you’re strapped for cash. For example, try cutting out subscriptions, memberships, cable, takeout, expensive coffee, and bottled water. Small, repeated costs can quickly add up!

Declutter and Sell Unwanted Items

If you need money now, try selling some unwanted items. Spend some time decluttering your home and sorting through possessions you no longer use. Once you’ve accumulated a pile of things to sell, post your items on platforms where they have the best chance of selling and for the highest possible price. For example, eBay is great for name-brand items that are in high demand, Poshmark for designer apparel, DeCluttr for tech, and Facebook Marketplace for larger items like furniture and decor.

As a mom, you shouldn’t have to choose between making ends meet and staying home to raise your kids. Consider starting an ecommerce business, freelancing, returning to school, or learning a trade to bring in some income without working outside the home. Just remember to adjust your budget to account for changes to your household income!

Let us help you market, manage, and grow your business! Contact The Virtual Consulting Firm today!

This article was written by a guest writer, George Miller of securabilities.com