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Financial Independence: Is it a Reality for Work-at-Home Moms?Moms share how working from home impacts their family budget and finances.by Martine De Luna .
2. They create diverse streams of income (and rock at it, too).
It’s not uncommon to find WAHMs juggling various jobs (I, for instance, am a freelance copywriter, but I also dabble in social media consulting, and editorial management projects). It doesn’t come as a surprise in the WAHM community, who are all used to managing multiple income streams. In fact, diversifying income streams is one of the keys to achieving financial independence as a WAHM.
“I like that I can buy stuff for myself from my own wallet without having to worry about spending our savings,” says Erlaine Gool, who juggles multiple jobs as a real estate agent, blogger, freelance virtual assistant and online entrepreneur. Erlaine is able to integrate her income streams into a substantial income.
Working at home just seemed to be the natural thing for Erlaine, at the time. “After giving birth in 2008, I resigned from my IT work in a bank (with my husband's approval) to be a full-time mom,” she says. Her first venture was online selling through Multiply, while she simultaneously managed the family business. She later took up a course on virtual assistance, which earned her enough to match her income in the family business. “At that point, I resigned (from the family business) and started working from home!” In fact, because her husband takes care of the usual household and education expenses, Erlaine was able to set aside a travel fund from her earnings, enough to take her family to Hong Kong for a vacation.
For Daisy Virtudazo, an online English tutor and outbound specialist, juggling two work-at-home jobs has also helped her establish a sense of ownership over her income. A homeschooling mom of three, Daisy resigned from her office job when she was pregnant with her third child. “It was a huge financial risk but I really felt that God was giving me all the opportunities to work at home so that I could spend more time with my kids and homeschool them,” says Daisy. Aside from helping her contribute to the family income, both of Daisy’s jobs are flexible, allowing her to integrate her work into her family’s schedule.ADVERTISEMENT - CONTINUE READING BELOW
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