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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. If you are higher than that, go back to the drawing board and see if you can’t cut something else out. Sacrifices will need to be made for a short time.

Once you have gotten your expenses down to no more than -$500, multiply THAT amount by 12 months.

For example: 500 x 12 = $6,000

Now isn’t that a more logical annual goal to save before you quit your job? $6,000 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.

You have enough of a safety net for a year… and that is more than enough time to get your small business up and running. Remember, you don’t have to REPLACE your monthly income. The goal now is to earn $500/ month. Sure, it may take you a few months to get there, but when you do, you won’t have to dip into your safety net anymore… or if you have a down month, your safety net should still be there for you.

Don’t look now, but you are self-employed.

Before you know it, you’ll be thriving as a self-employed career parent. You may even get used to the less expensive way of life. Once business picks up, you’ll need to think about how to scale it up, hire some outsourcing support, or even scale it back for busier times of the year. You got this!

The Phone Rings – Pavlov's Kids are Conditioned

The Phone Rings – Pavlov's Kids are Conditioned

by Judith Cassis
Working from home is a gift to the family, but is not without its challenges. This is one I
remember best.
Psychology buffs may recall Ivan Pavlov’s theory of classical conditioning, where
dogs were trained to salivate in response to the pairing of meat with the ringing of
a bell. After several pairings, the bell, which had been a neutral stimulus, became a
conditioned stimulus causing the dogs to salivate when they heard it, even when there
was no meat present. Complicated?
Not when you think about what happens every time the phone rings. Your previously
busy youngster is drawn to you like a magnet. One who was reading quietly in the
corner is now draped from your waist with alligator tears running down his face, or the
kids argue – and it just so happens that client you’ve been waiting for is on the phone.
Sound familiar? This was a regular occurrence in my house.
My solution: I rarely gave my kids cookies, saving them for when I was on the phone
and needed them to be quiet. Consequently, every time the phone rang, they cried,
yelled or whatever, making it necessary for me to hand them cookies. I never figured it
out; not until years later. I had turned them into little Pavlov’s kids:
Phone Rings —– Child Cries —– Mama Grabs Cookies. Classical conditioning at its
Judith Cassis,C.Ht. is a Personal Development Consultant with 26 years experience. Known as “The Bounce-Back Coach”, she works with people who are “bouncing back” from failure, loss or tragedy. Judith is co-owner of a small newspaper,Tidbits of Santa Clarita Valley, www.tidbitsscv.com a family business she and her husband, Lee Cadena run with their sons. Through a monthly teleseries, Mama Come Home, Judith supports mothers in staying home or returning home to raise their children.