Finances

Valerie - posted on 05/16/2010 ( 13 moms have responded )

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I was wondering if anyone else is having a hard time financially, since only one paycheck is coming in and what do you do about it? Does anyone do anything from home to make money (besides selling makeup or jewelry)? I am having a very hard time with the mortgage, etc. so I would love some tips.

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Chrissy - posted on 05/16/2010

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Yes financially it is very hard but I been a stay at mom for over 4 years now. We have giving up going out to eat a lot, going out with friends, We have a budget and we stick to it. I also clip coupons and use them as much as possible. As for your mortgage something we have done is divide your mortgage by how many time you all get a paycheck and then deposit that amount into your savings each time you get paid. So if you get paid weekly then 4 divided by housepayment and that is the amount that goes into saving each time you get paid. If it is not in your account then you can not touch it. When you house payment comes due jsut transfer that amount into your checking or like my mortgage I just pay it out of my saivngs. I do this also for our truck payment

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Lora - posted on 05/21/2011

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Hello
My name is Lora and I to have had a really hard time. My husband died a couple of yrs ago. So it's just me bringing home the bacon. I have a 10 yr old and a 22 yr old along with his fiance'. I recently found a company that has done so much for me. It is a breakthrough financial system that can cut your expenses by several hundred dollars a month and create up to double the retirement income so you can retire sooner and can make money in the process. If you will go to:
http://www.mymlpresentation.com/101495.
Fill out the information on the website at the end of the presentation if your interested and I will get back to you. Things are really hard right now. But I think I can help you and anyone else that is interested in getting ahead and making money.

Jami - posted on 05/18/2010

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We went the other direction...we're moving to a smaller/cheaper place.

It is temporary...but as we didn't buy before we aren't as invested in our home!

Shirley - posted on 05/18/2010

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I commend all of you Moms who have made the decision to stay at home and raise your children. You have made some sacrifices and in the long term you will reap the benefits. After my boys were born, I made the decision to go back to work but regretted not being able to raise them myself rather than sending them to day care. Back then maternity leave was 3 months!! Everything turned out okay but I would have rather been at home. Today, as a Grandma, I now have the opportunity to share with Moms like yourselves that you can be a stay at home Mom and still provide towards the household expenses. You need to hear about a company that has helped Moms like yourself stay home and build a successful home business. I know that by now you are probably thinking or yeah another one of those.....but what if what I am sharing is true? If it isn't for you at this time no problem but what if it gives you something more than just financial freedom and allows you to help someone else who is walking through the same hardships? Click Here: www.shirley.realprosperityzone.com and see for yourself. What have you go to lose?

Bridget - posted on 05/17/2010

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I was laid off during my pregnancy so I have been out of work for 16 months now. I am fortunate though that my husband and I have planned our lives so that my income will always be secondary. But I hate feeling that he is the only one making money. We sat down and brain stormed how I could make money, while still being with my daughter.
I baby sit a girl after school for 2 hours a day, and will watch her 2 days over the summer. I walk a few dogs in the neighborhood each day. I just strap my daughter into a baby carrier and its really fun! The only time its difficult is if its really rainy. Also, as gross as this sounds, I am starting a poop scooping business. A friend of mine does it part time after work, for about 3 hours a day, and made 30k extra last year. I can do that with my daughter in tow as well. You do have to buy materials for that, but the investment is minimal. Again the biggest problem is when its rainy.
As for saving money, my husband is a BIG TIME coupon clipper, and comparison shopper. He knows where the best prices are. If we want to buy something like medicine, diapers, formula, personal care items, we dont buy them unless we have a coupon. It takes a little bit of planning ahead, but it works. Also, we joined Costco and we always do our shopping with my Mom. We split most of what we buy with my Mom so that nothing goes to waste but we are still getting the items for cheaper.

Also, to make some extra money here and there, you can try to post an ad on craigslist. Explain your situation, that you are a stay at home mom looking for extra money while keeping your baby with you. List jobs you would be willing to do. You can get some random work from that. Also, depending on how the real estate market is in your area (in mine its excellent) you can go to local real estate offices and ask if you can post a help available poster. A lot of real estate agents get really busy at certain times and can use help with a variety of jobs. Sometimes its office work, but sometimes its help putting up signs, or cleaning a house to get it ready for sale. The major benefit of this is that a lot of real esate agents are women, many Moms, and they know what the struggle is like.

Good luck!

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Budget budget budget! It sounds so very simple, and really it is, but it is one thing that has made a HUGE difference in our finances. You may say, "But Sara, I know where my money is going and I don't see how writing it all down will help." Believe me it does help.

At the top of your paper, write the amount you will be getting from the one month. Then make a list of your bills, the things that HAVE to be paid. Write the highest you've ever paid for that particular bill then go down the list subtracting each bill from the total at the top. Example:

Month of May: $3,000
Mortgage - $700/ $2,300
Utilities - $100/ $2,200
Car - $200/ $2,000

And so on. Make sure you add in groceries and other necessities. Once the necessities are taken care of, add in clothes, eating out money, fun money, etc.

What I do each pay period: I take out the amount in CASH that I've already pre-determined I'll need for groceries, eating out and entertainment. I'll put grocery money in one envelope, eating out money in another, and fun money in another. If it runs out before the next pay period TOO BAD. I know I have to make the small amount of cash I have last. That keeps me from accidentally overspending. Ex. The other night my husband wanted pizza. But there was no money left in the eating out envelope so we cooked instead. Saved us from over drawing our checking just to get a pizza.

One last tip: try a money saving blog. My favorite is moneysavingmom.com. If you are in the USA, she has a tab that says, "store deals" which lists almost every grocery store in America. Then she lists the weekly sales and coupon matchups (and will tell you where to find the coupon). This has helped me get my grocery bill from $500+/month to $300 or less/ month. And that includes cleaning products, makeup, diapers, personal care items on top of our regular groceries (and we like to buy organic).

[deleted account]

My hubby works two jobs and we get a little help from the state. My medical bills are about $500 a month and that is just for my medication for my asthma and allergies. We have two toddlers and we are pregnant with #3. I am planning on going back to school and getting a job but I am going to breastfed this baby until a year old. It is just easier for me to stay home since day care for three would be expensive and I wouldn't make enough to cover that and still make a profit.

Valynn - posted on 05/17/2010

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I have been a SAHM for almost 9mths now, and it was a HUGE adjustment going from two incomes to one! Some things I have done to help cut costs are, as mentioned earlier, clipping coupons, stop going out to eat.. well we stopped going out all together. I dont run the air conditioner during the day and that act alone has cut or electric bill in half! we were paying over $200.. our last bill was $55 ! I also gave up my car and we are a one car family. As long as the house is ok and the baby never goes without it is worth all the hard times. we are happy as ever knowing that our son is in the best hands possible, mine! so, hang in there and have faith, I pray you all will work through this hard time together. As for working from home. Good Luck, i wish i knew how to bring some extra income with out having to sell crap or go to school for a few more years. Remeber that we are lucky to be able to stay home with our babies, and that is the most important thing... a side note, I got an email about selling your eggs, not for me, but it is for some.. just a side note. Good Luck!

Alicia - posted on 05/17/2010

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We too have only one income. My husband gets paid commission and sales are slowing down for the summer. This is our first year with him getting paid off commission since he took a promotion, and we weren't really knowing what to expect.
My system is I write when all the bills are due on a calender, then I can see what needs to be paid out of each check.

As far as ways for you to get extra income, most of them are scams. Most of the at home party companys are for real but alot of times you have to buy all your materials upfront, then know alot of people you can beg to do partys. Maybe you could babysit or do in home daycare. Your best bet is to start an at home buisness such as selling on ebay, or making something you can sell online, in consignment stores, or at craft fairs. Like hair bows, or dresses. IF you have a college degree you could look into at home call centers, but i read an article once that said they will not deal with distractions...not really the best for a mother with young children.

Penny - posted on 05/17/2010

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i think its something everyone goes through if you are a SAHM and only have one income, you just have to cut back, and except that it wont be this way forever, that one day you will be able to do more n have more. i just think to myself would i prefer to look After my children myself, or have a flat screen tv, go on holiday etc. n i always come up with the same answer. aslong as you can afford food n basic clothes nothing else really matters!

Mathilda - posted on 05/16/2010

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Well we did have that issue ourselves and we changed a few things:

- Instead of Cable we use Netflix and just stream from the Computer (we also like that we don't have a lot of commercials great for the times when our little one is watching something)

- We also don't have a house phone my husband uses Skype and that is actually pretty cool. (unlimited for anywhere and any phone)

- We lowered our cellphone bill drastically the only thing is we still needed one for our business.

-We alternate between Cloth Diapers and Disposable when we leave the house.

- We also found that we don't eat out but maybe once a month.

- We pay ourself first - it seems hard to do at first but even just $10 in our savings every check is starting to add up.

- We started to Stack our payments once we paid something off we stacked the money on top of the next bill.



we work from home and at first we didn't have anything really coming in but these little things really helped us a lot. Till we were able to get our business growing, I hope this helps :)

Lisa - posted on 05/16/2010

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Its a very financially stressful time especially since I know what you mean...I want to do more...I can tell you what we have done to help BIG! we cut all expenses we didn't need. Cable..only what we need..and a couple of channels that my son loves. Home Phone...Basic- no frills. we use our cell phone for Long distance or areas not covered. We don't go out! that saves alot. the only time we go out to eat or anything would be for something special. Go to the Market beginning of week and buy what you need, when you run out of something do w/o until the beginning of the week or the once a week going shopping. saves on gas & you use everything you have...try using things in pantry & cook @ home instead of instant frozen cooking or fast food... saves on $$$ & you get to learn to cook w/ what u have.

Alison - posted on 05/16/2010

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I do the same thing, we divided up our rent, and car payment too and deposit them into saving each week, then just transfer to checking when its time to pay them, it really takes the stress out of having to come up with a crazy amount of cash at the beggining of every month!

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