The Real Costs Of Working From Home

work from home momHaving two incomes coming in seems to be more important now than ever. With the increasing costs of living going up, women are finding that it is necessary that they make an income to contribute to the families finances. Many women are also seeing the need to make sure that their own financial future is secure. Relationships are not secure and many women are finding themselves in a place where they need to ensure their financial independence.

I have been in all 3 situations: A stay at home mum, worked outside of the home and now working from home. I can tell you that without a doubt the best thing I have ever done is work from home! Not only because I have more freedom and a better lifestyle, but also financially we are far better off.

You have 2 choices to increase your income. You can work outside of the home or you can work from home.

What are the costs for working outside the home?

  1. Daycare – These costs can be over a $1000 each month!
  2. Commuting Expenses – Taking two cars to and from work each day isn’t cheap. The added petrol and mileage, plus parking or tolls can add up in a hurry. You might also find yourself forced to make another car purchase sooner with the extra wear and tear on your car. Add car payments and you can be looking at over $500/month
  3. Meals Out – Most work at home mums probably eat lunch at home on a typical day. But working women tend to have lunches out with colleagues, if for no other reason than convenience. A precious few have the self-discipline to take it every day, but only you can honestly say if that would be you. Also, mums working outside the home who are just coming home at dinner time are more likely to pick up pricier prepared foods for their families on occasion. Coffee, Lunch, Dinner $350.
  4. Work Wardrobe.  Your favourite tracksuit pants, shorts, t-shirt or even PJ’s are great when you’re working at home, but a professional environment will require a more put-together wardrobe. Depending on your personal tastes, this can range from mildly costly to “oh-my-goodness-I-just-blew-out-my-credit-card”. Clothing and Miscellaneous $200/month.
  5. Taxes Not only will you be leaving a significant portion of your pay check in the tax man’s hands on pay-day, but it may be taxed at a higher rate than you expect. If your current total income puts you, as a married couple filing jointly, near the top of your tax bracket, your additional income may go over the line and be taxed at an even higher rate. One of the many benefits of working from home are the tax breaks that are available. Taxes over $200/month.

Now add all the costs up, as well as the cost of your time and the stress of having to juggle everything, then subtract what you will be earning. This will give you the costs of working outside of the home.

The expenses of having a J.O.B. (just over broke) – Daycare $1000/month, Commuting expenses $500/month, Eating out $350/month, Clothing $200/month, Taxes over $200/month

Cost of Working From Home around your kids and being your own boss…PRICELESS!

If you would like to be a Work From Home Yummy Mummy, head on over to our Work From Home Business Opportunity page and fill in the form.


Work From Home Mum

Connect with me: Naomi Enevoldson

Email: naomi@workfromhomeyummymummy.com

Twitter: https://twitter.com/yummymummywork

Facebook: https://www.facebook.com/naomiene

Work with us: Yummy Mummy Team

 

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