|
|
|
Are You Starving Your Home Business Of Lifeblood?
If you've seen Kevin Costner's film the "Field of Dreams" you will remember how he was inspired to build a baseball field with the words "If you build it, they will come". He built the stadium, and with a little faith, streams of visitors were...
Managing Your Home Based Online Business - 1
Working at home in their own business is something millions of people strive for and dream of, but most in the Western world never actually get around to doing it. For those who do achieve it, how do they adapt if they have changed, for example,...
Market Your Passion Online: Internet Advertising Advice From My Home-Based Business Advisor
You need to be advertising and marketing your home-based business, but what does it all mean? You need customers. You need sales! But where do you start?
FFA Pages
Banners
Traffic Exchange Programs
Reciprocal Linking
...
Starting a Home Based Business
Having a good idea is the first step to starting a home based business. But this is the easy part. If you want to have a successful business, there are many other things to consider. Is a home based business right for you? Before you invest your...
The Homestead Revolution V
Part 5 of a 6 part series Do What You Love
Some of us can and sometimes do find work we love in the
corporate world. Sometimes the work would not exist except that
it
has corporate support or subsidy. Often you can do the same or...
|
|
| |
|
|
|
|
|
|
Stay Home Moms Earn A Living!
Recent Statistics show a second income might be detrimental to the financial status of many young couples with children who need daycare. Studies discovered families with one income were already ahead of the financial game, if the second income is a modest one.
Why? Simply because when both parents work outside the home full time, additional expenses will expand rapidly. In fact, their financial stability will diminish instantaneously, leading to financial ruin, even bankruptcy. This article will cover what one young mother decided to do to improve her income.
I will use my good friend Sandy as an excellent example. Sandy is a married woman with a three year old son. She recently returned to work after being a stay-at-home-mom.
Please Note: All the expenditures are on the conservative side. Sandy is frugal and watches every penny she spends. Please adapt the examples to your own situation to weigh your choices.
Sandy earns a respectable $24,000 per year, which she considered a good second income for her family. Wrong! Sandy discovered other expenses were consuming her new income. To begin, she had to deduct about 40 percent for fed, state, local, social security taxes, pension plan. She is down to about $14,400 extra. Yikes!
Daycare dwindles a large portion of her earnings. In many large urban cities daycare cost around $6,000 for one child. Sandy considered herself lucky to find a center charging about $4,800 per year. That reduces her extra income to $9,600.
Sandy works in a high profile business office, her appearance is very important. Sandy will need a new wardrobe. Of course, the new ensemble will need
dry-cleaning. Yearly fee, conservatively $1,000. That leaves Sandy with $8,600.
Of course she will want to have her hair and nails done to maintain her professional appearance. Costing a grand total of $2,000 per year. Reducing her profit margin to 6,600.
Oh, and don't forget the little expenses that add up like, lunches, snacks, office parties, magazines to read on the train, and other expenditures that accumulate with working outside the home. This can add up to an additional $3,000 easily. Sandy is now at a $3,300 profit margin.
All right, now there's transportation. Sandy commutes by rail 5 times per week. This totals close to $1200 dollars per year. Our profit margin is now $2,200!
Think about it! That breaks down to approximately an extra $183 per month after expenses. Sandy soon realized she could start an in home business that would have a higher profit margin than her once highly coveted 9 to 5 second income.
Sandy decided to start a day care center. Sandy cares for two other children along with her son. Her expenses are less, since she doesn't have to commute. She doesnt have to spend money on a business wardrobe or the latest hairstyle. Plus, she gets to spend all the time in the world with her son during the most important formative stages of his life!
Think about it! Are you in similar situation like Sandy. Maybe, that secondary income working outside the home is not the answer to your financial woes, but starting an in home business is!
About the Author
BB Lee is Editor/Publisher of SmallBizBits Newsletter
http://www.angelfire.com/zine/smallbiz
Smallbiz-subscribe@topica.com
|
|
|
|
|
|