Can You Afford To Quit Your Job?

Can You Afford to Quit Your Job?

One of the biggest misconceptions that parents who want to quit their job make is in the financial preparations. If it takes at least a year to build a business from home, then logically that would mean you would need to save at least your full annual income to live off of in that year, right? WRONG.

No wonder so many people think it is impossible and remain STUCK in a less than desirable situation. The good news is that you are NOT STUCK. The bad news? There are still sacrifices to be made.

Before losing all hope, create a financial spreadsheet. Cut out all of the expenses that go along with working outside of the home, such as daycare expenses, house cleaning, commuting, etc. With your spouse’s income, you should only be in the negative $200-$500 a month. That negative amount x 12 months will equal the more logical annual goal to have saved before you quit your job. $2400 is much more attainable to have saved than $60,000, and should minimize the fear of jumping without that safety net. Furthermore, this now gives you a new income goal as a first time business owner. Concentrate on earning that negative amount back to replenish your savings, and before you know it, you’ll be thriving as a self-employed career parent. For more support in preparing to make that leap, visit http://www.thislittleparent.info.

Self -employed Parent Enthusiast Ally Loprete is the Founder of OurMilkMoney.com, a nationwide online business directory of self-employed parents,  and the host of This Little Parent Stayed Home, a live weekly radio show, on The Toginet.com Radio Group which can be downloaded on iTunes.  Ally is on a mission to help other’s deal with the sometimes overwhelming prospect of leaving a full time job to start a new business, while running a full time household and raising kids. She is resolute about creating a haven in which parents across the nation will continue to thrive and obtain the support they need in their personal journeys. Self-employed parents, list your business for free at  www.ourmilkmoney.com. Private coaching is available at http://www.thislittleparent.info.

Advertisements

About A Wishful Thought

I am a military wife, mother, business owner, professional writer, blogger and legislative advocate. I am an entrepreneur. At Villanova University I studied Operations Management specializing in Program and Project Management. I worked at various oil refineries honing my skills and ultimately opened my own consulting firm. I consulted on Environmental Restoration and defense projects including software development, satellite development and programming, phased array radars, helicopter and tank development, etc. I decided to take new direction in life when I became pregnant in 2000. I founded my own corporation, Wish Enterprises, Inc., to fulfill my own wish of being able to stay home with my son while contributing to the family income. With my husband’s full support, I developed and founded The Wish Place. I now also own Buy By Mom to continue to my mission of assisting parents who want to be successful in their businesses. I am the Director of Communications for Our Milk Money, the Colorado State Leader for the National Association for Moms in Business and the Colorado State Coordinator for Smart Girl Politics. I am a professional writer and blogger. I am the Colorado Springs Stay-at-Home Moms Examiner for Examiner.com. I write articles for work at home parents on my blog associated with The Wish Place. I review products produced by moms and dads and feature businesses run by moms and dads on my Buy By Mom blog. I write for various online publications and am also a political writer. My specialty is connecting people with great home business opportunities and providing unmatched one-on-one mentorship to those starting a home business. My passion, purpose and goal is to help parents work from home so they can be home with their children. To that end, I am a Legislative Advocate at the National and State levels to influence policy so that it is favorable to those in business.
This entry was posted in Ally Loprete and tagged , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s