Surviving the Lows as a Freelancer

As a freelancer who works from home and a mom, you experience highs and lows with regard to your income. Some months are exceptional while others leave you scraping for work. During the periods where work is scarce, it can become hard to stay afloat and maintain things like your bills and essentials in the home. You may even start to reconsider your choice to remain home and re-enter the workforce. Don’t push the panic button yet. With a few changes in your handling of money, you can enjoy quality time with your children and make money too.

Lending

Many freelancers have a difficult time getting a bank to grant them a loan. Even with fairly good credit, the business is too risky for many traditional establishments. Luckily, there is a way to access a few hundred dollars or even a couple of thousand dollars when you need it most. Companies like Blue Trust Loans offer easy cash loans online to people just like you, who work hard but don’t always have money in the bank for emergencies.

Budgeting

Freelancers have good months and slow months, it’s just the nature of the business. However, the advantages of working for you and having the time to enjoy special times with your family are well worth it. Here’s where having a budget in place can set things right and make every month less stressful. Figure out your monthly expenses including your house bills, outstanding loans, credit cards, groceries, gas, school, and other essentials. Then take a year’s worth of your income and divide it by 12 months. This number is your average monthly income. The key to your success is to only use the money you need each month and put the rest away in a savings account. This way when you have a slow month you can draw the additional funds you need to cover your bills and enjoy your time at home.

Pay Cash

When you work in an industry with unsteady income taking on a car loan or credit card debt can end up disastrous. Instead of applying for a loan or a new credit card, start a savings account. During the months where you make a lot of money take a small portion and tuck it away. When you want to purchase a larger item like a new television or a front-load washer, you’ll have the cash at your disposal, with no payments added to your debt and no interest tacked on.

Distractions

There’s no doubt about it, working from home can have its moments where you question your sanity. As a mom, your children look to you for basically everything. If you have young children not yet of school age, hiring a babysitter, even part-time, can make a big difference in the amount of work you are able to complete just in a single day. If your children are a little older and they are involved in sports or activities that can consume a few early evenings, try to complete projects during the day while they are not home. This way you’ll be able to attend their games or take them to practices without getting an overwhelming stressed out feeling.

A Designated Work Place

Being a stay home mom who also works from home requires discipline. In order to focus you need a space all your own, away from the rest of the family. A small spare room is ideal. However, if you don’t have an additional room to go to, a wall divider can suffice for the short term.  It’s also important to have a talk with your family and let them know that even though you are home, you are working.

Working from home and raising a family isn’t always easy. However, the advantages of being able to create your own hours and still be a part of your children’s lives is well worth it.

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