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While this may not apply to everyone, you may
find that a second salary brings in substantially less than you thought. In
the beginning, Rachael thought that since she and her husband were just
about breaking even as a couple, that staying home with the new baby would
never work -- infant needs seemed endless. So she went back to work at her
old job.
After a few weeks, they decided to actually
calculate their bottom line with and without her weekly pay. This should
have been a surprise because there was still no extra money at the end of
the month. Rachael's second income necessitated extra expenses resulting in
a near-breakeven budget once again.
When you consider the hidden expenses of a
two-income household you must include the obvious ones like child care and
commuting costs. Add to this -- order-out-lunches, and those quickie
dinners like take-out or prepared heat 'n serve selections. Office clothes
and dry cleaning will apply to some.
Increased exposure to common illnesses for
the child in daycare caused Rachael's absence from work more often than her
single co-worker taking another bite out of her weekly check. Rachael's
second salary pushed them into a higher income tax bracket bringing an
added burden at tax time.
If a two salary income doesn't work any
better than the one-salary did, then your answer has to be the Internet. To
accomplish this without household friction, you must have three things going for
you. (1) partner's cooperation: he/she must be able to share some of the
household duties without complaint. (2) your flexibility: to be able to work odd
hours like when the baby sleeps. and (3) the biggest of all, sacrifice: working
at home may mean giving up some things until your Internet
income equals what you earned offline.
When mothers were asked what they would be
willing to sacrifice to work at home, some of their answers were:
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Selling the second car to save on
insurance, taxes and loan payments
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Cable TV
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Wal-Mart weekly stops
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Cigarettes: a costly as well as
unhealthy expense
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Dinners Out
Some added their willingness to shop for
baby clothes at the thrift-store (they were surprised by the bargains). And
almost all have begun coupon shopping: a big savings on the food budget.
The latest research states that 8,500 new
home businesses are started every day in the U.S. So if you have been
lifting couch cushions looking for loose change, get in on the Internet
opportunities but you must be open to all possibilities. When you limit your
focus, you limit your choices of income.
Opportunities such as Clickbank or Payaah are
two popular avenues that can set you up in a heartbeat with multiple
programs under one umbrella. You can hit the ground running, and explore
other offers at your leisure.
Works for me.
© 2004 Esther Smith
About
the Author: Smith has published numerous articles and writes a blog for
all artists:
http://the-self-taught-artist.com/blog.html
She also coaches new students on how to leave the time-for-money trap and set up
Leveraged Income for life.
http://thepermanentventure.com/dcc.htm If you can’t sing or ride a
bull, you better learn how to make your money work for more money.
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