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-   -   Supplementing income from home? (https://www.familycorner.com/forums/general-advice/9320-supplementing-income-home.html)

Txchef_fran 01-26-2004 12:25 PM

Supplementing income from home?
 
Okay I am starting to think of a few things I can do to bring in some money while still staying at home with my new baby come June. My husband has agreed it is best for us and the baby if I stay at home with him/her BUT since I bring home a good amount of pay right now I need to find something to supplement. I have a home based business already that I am working to grow but will need more income during the transition.

A couple of years ago I made xmas wreaths and sold them so I can make a few hundred dollars doing that.

I currently bring home about 2K a month so the $400-500 a month I make doing my home business won't cut it right now. I thought about watching a few kids but don't want to overwhelm myself with a new baby and some other kids. Plus if I watch kids I will be back to where I am now where I don't have the time to grow my hoem based business.

Any ideas??

barbszy 01-26-2004 02:21 PM

Fran, it might be easier to answer your question if we knew what kind of work you do :)

Lee 01-27-2004 08:34 AM

Fran,
I just read an article on how to make it on 1 income:

Do the math-take your net after-tax salaray and subtract all work related expenses. These costs can include child care, commuting, dry cleaning, meals, manicures, birthday lunchs for collegues and other job upkeep. (This is what I did when I decided to stay home you would be surprised how much was cut)

2-Take a trial run simulate a 1 salary income while your still working. basically, look at where all your money is going! If you decide to stay at home there are sacrifices for sure, see where you and your dh can give up! ie: brew your own coffee, scale down cell phone plan, give up cable, avoid take out. Minor changes add up quickly!

These are just some of the suggestions in this article too long to type them all! Here are some books they recomend:

How to Raise a Family on Less Than 2 incomes by Denise m. Topolnicki

Shattering the 2 Income Myth by Andy Dappen and Andrew R. Dappen

You can afford to Stay Home with Your Kids by Malia McCawley Wyckoff and Mary Snyder

Also a couple of websites:
www.athomemothers.com
www.mommysavers.com

I personaly started my own daycare to supplement our income, but I didnt start till ds was 9 months old! It works for us but its not the most dependable income all the time. Good luck!

ps. I had to let you know the Dinoaur books you sent me from the trade/swap were a hit, Evan likes us to read at least once a day!

Txchef_fran 01-27-2004 11:57 AM

Lee..thx
 
Thx Lee. These are some great suggestions and information.

I had done step one. Calculated the difference and it came out to only $200 but that includes daycare (which here is $1K a month for newborn) The thing is we are not currently paying that so me staying home or working we would be short because of this MASSIVE expense.

I AM going to stay home since the difference is the same whether I work or not. I just need to make some adjustments to our outcome of money, save some now as a buffer and get my home based business growing quickly.

I am going to check out these books and links to see if I can get any more ideas....

THANKS!!!!

Glad your son loved the book!! It just collected dust at my house as dss had outgrown it.:heart:


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