I have a story, not unlike your own,
about a mom who wanted to stay home with her kids but felt that she
coudln't because of finances. She hated taking them to daycare day
after day, hated feeling left out of their daily lives, and hated
the circumstances that trapped her there. Well, I'm here to say, she
found a way out. YOU can find a way out. It isn't easy or without
sacrifice but it is possible and will be the best decision you have
How did she do it? Did her husband
get a raise? Did they receive an inheritance? No. The made
sacrifices, they cut their spending, and they made it work. It all
started with a choice. She chose to stay home and committed herself
to finding a way.
The first step was to get educated.
She found websites about budgeting and spending, read books about
ways to save money, talked to others who found a way to stay home.
The more she learned, the more she saw how to reach her goal.
The next step was to record all of
her family's spending. Every bill, every run to the corner store,
every trip to the gas station, holiday spending, vacations,
clothing, insurance, taxes, EVERYTHING! Once she determined what
they spent, she figured out how much they would have to cut to be
able to live on one income. She was immediately able to cut several
hundred dollars in daycare expenses, dry cleaning, lunches, and
business expenses she would no longer need. This helped but she was
still a long way from where she needed to be.
Her next step was to sacrifice and
cut back on unnecessary expenses. For her, this included the cell
phone, the newspaper and water deliveries, subscriptions to various
magazines, eating out as often, and cutting the grocery bill by
using coupons. This lead her to research and shop around for better
deals on insurance, internet service, telephone and electric bills,
cable tv/satellite, and banking. She was able to save a few hundred
dollars a month by switching over to cheaper carriers.
She was closer, but she still had a
large amount in debt that was holding her back. They needed to
reduce this or she wouldn't be able to stay home. So, they looked
into consolidation loans and home equity loans that lessened the
monthly payment. In her case, they received a home equity loan that
was large enough to pay off the credit cards and the 2 car payments.
This ended up saving them over $500 per month. Once the debt was
consolidated, she chose to cut up all but one card for emergencies.
Her last choice, was to start a home
business to provide additional income. She had heard of a lot of
scams out there so she researched companies and found one that
worked for her. She was able to bring in the extra income they
needed within a month or two.
Finally! She was there. She reached
her goal. Her last day of work was the happiest day of her life,
especially when she picked up her kids from daycare for the last
time. Being home is worth all of the sacrifice.
You too can stay home. Get educated.
There are countless resources that will show you how to cut
spending, get discounts, budget and plan. Cut back. Don't be afraid
to sacrifice the unnecessary for the necessary. Shop Around. Find
better deals on services and products. Start a home business if
needed. Be sure to research all business opportunities before
starting to be sure it is right for you, they are legitimate, and it
can give you the income you need.
Where is she now? Well, her home
business has allowed her to slowly but surely pay off the equity
loan, create an emergency fund, and save for various expenses (such
as clothing, taxes, medical expenses, and the like). In fact, she is
even starting to put money away for college and retirement. But the
best part is that she was able to be there for her kids.
You CAN do it. It all starts with a
Linda Jones is a
mom who is committed to helping others reach their goal of staying
home. Please contact her at firstname.lastname@example.org
for a list of resources to educate yourself. She also participates
in a home business that is flexible, easy, and very possible for
ordinary moms to reach their goals. Please see her website at www.momswin.com/lindaj.