|
|
Saturday, 09 August 2008 07:00 |
|
One of the first things you have to figure out when you realize
that you want to stay home with your kids is whether or not you
can afford to do so. You are probably used to living on two
incomes, so making the switch to a single income may not be
easy. However, it may not be as hard as you think.
If you have children already, the first thing that goes away
when you decide to stay at home is the cost of daycare. However,
if you work at home, part of that cost may remain, unless your
work is such that you can keep the children home with you. Take
a look at how much of your income right now is going to daycare.
That cost alone may prove to you that you don"t need a
high-paying work at home job to stay home - a simpler one may
suffice.
There are several other costs that will drop if you stay at
home. You"ll be in a different tax bracket. You"ll probably
drive less, eat out less often and you won"t need clothes for
work, which can save both on shopping and on dry cleaning bills.
When you"re figuring out how much it costs you to work outside
the home, don"t assume that becoming a stay at home or work at
home parent will cause you to stop eating out. You will have
those days where you decide to take the kids out, more likely
than not.
One thing many parents forget to think about when they decide to
stay at home is to handle retirement planning. Now, if you"re
just staying home for a year or two, it"s probably not a big
deal, but if you plan on staying home for many years, this can
be a huge impact on you when you do retire. You may not have the
finances to fund your retirement account well when your family
is living on only one income, but you should try to do at least
a little. See my article on retirement planning for stay at home
parents for more information.
Use this information to figure out what you will need to earn
while staying at home. Some will be fine as a single income
family, but others will need the stay at home parent to earn
some kind of income. Ideally, this will be a relatively small
amount, as the whole point of having a stay at home parent is to
have more time with the kids and benefit them, not maintain a
freely spending lifestyle. However, if a single income isn"t
enough, a work at home job or home business will likely become
necessary.
Figure out how much income will be necessary and how much risk
you are willing to take. Work at home jobs are harder to come
by, but home businesses are by their nature more risky, and it
may take a few years to earn an adequate income from a business.
Plan accordingly, and know that you might not be able to live
your preferred lifestyle right away.
Fortunately, by the time you take out the costs of working
outside the home, you will likely find you don"t need to earn
what you used to. Half or even less of your previous income may
be quite adequate. It may require sacrifice, but that"s what
being a parent is about.
|
|
|
Saturday, 26 July 2008 12:01 |
|
Whether you have excellent credit, good credit or poor credit;
make a great income, middle income or low income; have too much
debt - are self-employed - have a loan with a pre-payment
penalty - or need to rebuild or renew your credit...YOU MUST
TAKE A LOOK AT:
"Answers To The Most Frequently Asked Questions About Home Loans
(And the Top Ten Most Common Mistakes That Can Cost You Big
Money)"
You, as a homeowner or homebuyer, are about to make a decision
that will effect you immediately and into the future (sometimes
for years to come). By financing a new home or by refinacing an
existing home, you will be joining literally thousands of others
homeowner or homebuyers. You will be faced with one of the most
important financial commitments you will ever undertake. Even
the veteran homeowner faces challenges everytime he or she looks
for a new mortgage. It is amazing how much the mortgage industry
changes even monthly (not to mention yearly).
During the application process, you"ll be exposed to perhaps
hundreds of mortgage options (from reputable and not so
reputable mortgage companies). Who do you trust? Who understands
your particular credit, whether it may be excellent, good or
poor? Who would possibly know how to solve your particular
problems..one-on-one? Who is offering you the best mortgage
options? Who has your best interest at heart?
These are critical decisions that thousands of borrowers, both
homeowners and homebuyers have to make each and every day. This
can make finding the perfect mortgage loan for you and your
family (or even an investment property) very difficult. With
each wrong decision you make, you"re literally risking the
chance of loosing thousands of dollars (like throwing it right
into the trash) AND making taking a BIG hit on your personal
credit! This may leave you with a financial burden that can
drain you for many months or years to come.
Fortunately, we have the solution you need. We have put together
an absolutely must-have ONLINE REPORT for all borrowers from
excellent, good or poor credit. Homeowners and homebuyers
looking to get the perfect loan or an investor wishing to make
his or her first, second or third investment purchase or
investment refinance. This FREE ONLINE REPORT is NOT limited to
just those who have credit issues, but also will help homeowners
and homebuyers who have too much debt, who are self-employed,
and who have pre-payment penalty loans or who need to renew or
rebuild their credit.
This information will give you the knowledge you need to make
educated decisions throughout your entire loan process. It will
allow you to find and decide on the perfect loan for you and
your family.
So, get yourself a copy of this must-have FREE ONLINE REPORT
now! Use the information to educate and protect yourself. Visit
our website and download your FREE REPORT TODAY!
http://www.mortgagebooksonline.com/
|
|
Tuesday, 15 July 2008 23:01 |
|
Most mothers struggle with the question of whether to stay at
home with their children or work. If you"re trying to make that
decision, you know that it can be very difficult, because there
are advantages and disadvantages to both sides. Here are some
things to consider when making your decision.
Can you afford to stay home? This one seems obvious, but the
question requires consideration. There are costs associated with
working, such as child care, gas, wear and tear on your car,
clothing, lunches and parking. Deduct these expenses from your
paycheck and see what"s left. Next, look at other expenses you
can cut. Would it be worth it to you to cut back on vacations
and luxuries like cable television if it meant you could be
home? If you didn"t have a commute to work, could you settle for
a less expensive car? Once you"ve examined all the alternatives,
you can make a better decision about how staying home will
affect you financially.
Will you be happy at home? Some women stay home because they
feel like it"s the best thing for their children, even though
they are personally much happier working. If you are unhappy at
home, this will have a negative effect on your children, so you
shouldn"t force yourself to stay home if it isn"t where you want
to be.
Will you be miserable if you go back to work? Conversely,
mothers who truly want to be home with their children, but go to
work each day just because the paycheck is a necessity are not
getting the best from their life, either. If you fall into this
category, maybe it"s time to examine a career alternative that
might be a good compromise. Could you cut your hours? Could you
telecommute at your present job, or find a job that would allow
you to work out of your home? Fortunately, today"s employers
offer more alternatives in hours and work environment that make
balancing your work and home life a little easier.
Remember that the decision you make is not necessarily
permanent. Your financial situation could change, as could your
personal preferences about working. I have personally done it
both ways, and neither is a walk in the park. They are just hard
in different ways, and which one works better for you is mostly
a matter of your own personal style.
|
|
|
|
|
|
|
Page 1 of 18 |
