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For example:
A mother of two earns $20,000 per year, and works from 8:00 to 5:00 P.M. Monday through Friday. Each morning she loads the children in the car, drives them to daycare, and then goes another 15 miles to her job. Each season she spends about $250 on new clothes, shoes, etc. Due to the distance she travels, she often eats out. The usual tax, social security, and health insurance deductions are taken from her paycheck each week. She also pays $125 per week for her children's preschool daycare. Her take-home (net) pay is about $300 weekly, minus the $125 for day care, she now has $175 each week, or $700 per month.
But wait, there is more.
Her car payment is $300 per month, and the insurance runs about $40. She now has $360 left over. The commute each week will cost her about $25 in gasoline, plus maintenance expenses. $260 is now left from her monthly net pay. Since she's eating lunch away from home, the $5 per day runs her about $125 per month. Plus, she's tired when she gets home and wants to fix dinner as quickly and easily as possible, so she spends more at the grocery store buying "convenience" foods. And back to the clothing issue: that $250 averages out to about $85 per month, now reducing her actual positive cash flow to ONLY $25. Now, if you don't count the fact that her husband makes about $30,000 per year, her income puts them into a higher tax bracket, meaning that even less of their money is theirs to keep. The government will get it. For that $25 per month, she's actually earning about 63 cents per hour. Some lifestyle!
So how can she afford to put her children in daycare, come home each evening to prepare meals and do laundry, spend quality time with her husband, and relax? She sees this as her only option, and doesn't know there's a better way.
A home-based business could be the answer.
If this mom stays home, she can easily earn an extra $300 working a part-time business from her home - about $275 more than she was with a full-time job. The tax deductions for a home office will allow her and her husband to save potentially hundreds of dollars each year. There is no need for wardrobe, except for one or two outfits for meeting clients. Her children are home. She prepares meals herself, instead of in the microwave. She spends more time with her beloved family, and does more things that she enjoys. And $300 is actually a conservative estimate... what if she earned $800, $1500, or even $3000? Many people are doing it.
So the next time you think "I wish I could stay home with my children instead of leave them in daycare..." think about what your job is costing you, and your family. In the end, the rewards far outweigh the sacrifices.
Janet Warner works from her home in Little Rock, AK as a freelance writer and editor. She is also employed part-time as a home-based proofreader, thanks to SOHO Jobs Weekly. She has two children, a husband and two dogs. Email her: janetwarner@sohojobs.org
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