Get a Grip on Your Green by Tracking Expenses by Sandra Beck, Motherhood Incorporated
September 28, 2009
by Sandra Beck, Motherhood Incorporated
A good expense tracking system should be part of every mom’s repertoire, but this is even more important for a work-at-home mom. Not only are you chief financial officer of your household, but you are also adding business expenses into the mix. Here’s a quick look at a few methods to help you get a grasp on your green:
Receipts
No matter what method you use to track your spending, receipts are a must to claim your business expenses as a tax deduction. You can use your receipts to track your spending at the same time. Keep all your receipts in one spot, and then set a date with yourself to review them at regular intervals. Categorize each receipt based on the transaction type, and then enter the totals into a spreadsheet or financial planning software on your computer.
Calendar or Notebook
Write your expenses down on your calendar each day, or in a small notebook. At the end of the month, tally everything up and categorize it as you see fit. Record the results in a separate notebook or on your computer. A computer will give you a leg up when you are ready to review your budget. You can easily produce graphs and charts to compare your target budget with your actual spending. Plus, there is less risk of losing your work when you back it up.
PDA
Most PDAs have an expense tracking program built-in. If yours doesn’t, check the web for free software downloads. Keep your PDA handy to easily record transactions throughout the day. Assign your expenses a category and your monthly budget review will be a snap. Don’t forget to backup often.
Check Register
If you use a check or debit card often, use your check register as an expense tracking tool. Let your bank do some of the work for you. You’re statements will make it easy to review your monthly spending. Canceled checks will leave a nice paper trail, if you ever need one. Be sure to record everything on the spot, especially debit card transactions. These are more likely to get lost in the mix. Balance your checkbook regularly, and you’ll be good to go.
Source:
(2009). What Tax Records to Keep. Retrieved March, 10, 2009, from the Internal Revenue Service Website: http://www.irs.gov/newsroom/article/0,,id=105111,00.html.
www.motherhoodincorporated.com
by Sandra Beck, Motherhood Incorporated
I made the switch to a work-at-home career, and so can you. Here are a few easy steps to get you started on the path to a new career:
Assess Your Skills
If your primary focus is the ability to work out of your home, you’ll need to know which of the skills you have will be most helpful when you make the switch. There are many skills that are useful across a variety of industries, including many work-at-home careers. Consider not only what you are good at, but also what you enjoy. Here are a few skills common to many work-at-home positions:
l Computer Skills
l Customer Service Skills
l Project Management Skills
l Communication Skills
l Research Skills
l Accounting / Business Finance Skills
Choose a Career Path
Now that you’ve pinpointed which skills you already have and which you most enjoy, it’s time to decide on a direction. There may be more options than you realize for work-at-home mothers. Here is a short list to get you started:
l Executive Assistant
l Graphic Designer
l Web Designer
l Research Assistant
l Marketing / Public Relations Consultant
l Bookkeeping and Accounting
Gaining Experience
Depending on the career path you chose, you may need additional schooling or certification. Check for professional organizations within your industry. They are a great source for volunteer and network opportunities, and may help you assess which certifications will be most beneficial to you.
One of the greatest challenges posed when switching careers is the sudden lack of experience. It can be hard starting over again, especially in a market that seems interested only in seasoned professionals. Test run your new career by volunteering your time to a friend, or a nonprofit organization. Offer your services free of charge and put in your best effort. You’ll gain experience and professional references, all while helping out a worthy cause.
Don’t Give Up
Switching careers is exciting, but it is also difficult. Remember, it takes time to build a career. The rewards are great when you are willing to give it everything you’ve got.
www.motherhoodincorporated.com
No Wonder They Call It Work by Sandra Beck, Motherhood Incorporated
September 22, 2009
by Sandra Beck, Motherhood Incorporated
Most of us have considered the upsides to working from home, setting your own schedule, no commute, working in your favorite robe and slippers (if you so choose). But working at home has its downside, too. Working out of your house is no day in the park, it’s work and it can be tough.
The Downside to Flexibility
Flexibility doesn’t just mean that you get to take off when it’s sunny or spend an afternoon on a field trip. Flexibility in your working hours also means accomplishing the job, even when you’d rather not work. Sometimes being flexible requires long hours or spending a good chunk of your weekend finishing a project, with the reward being that you are available to chaperon that field trip after all.
Setting Boundaries
Being the ‘no’ woman isn’t easy. When we work in a corporate environment, the boundaries are usually laid out for us. Company policies are in place to guide us and make our jobs easier. When we work at home, we are the ones to set and enforce those boundaries. Whether with our kids, our friends, our employers or clients, we must be willing to draw the line. If you can’t say no, working from home can quickly become an express train to the burnout zone.
Let the Results Speak for Themselves
Discipline and self-motivation are the foundation of any work-at-home career. If you work from your house, no one knows whether you are working hard, or hardly working, unless they are seeing results. To be successful you have to be driven to achieve above and beyond what is expected. A results-oriented attitude will ease the minds of concerned employers, who may be wondering just what it is you are doing in that home office.
Independence or Isolation?
What one working mother considers independence, another may view as isolation. After becoming a victim of corporate downsizing, a friend of mine decided to stay home for the summer. That summer ended in July at her house. She needed the time away from home during the day.
Sweet Success
When it comes down to it, a home-based career can be deeply satisfying. I love the time I am able to share with my family, and the sense of accomplishment I have at the end of the day. Overcoming the challenges we face on the job makes each success that much sweeter.
www.motherhoodincorporated.com
by Sandra Beck, Motherhood Incorporated
What could be more discouraging than expecting the impossible? Most of us would agree that it would be unreasonable to ask an infant to put the toilet seat down when he is done, yet we hold ourselves to equally absurd standards. We expect the impossible of ourselves when we equate success with perfection.
I love art, now. Drawing, painting, or just crafting in general are a source of great personal joy and quality time with my children. When I was a child, art wasn’t on my list of favorite subjects. It wasn’t that I didn’t like the process of coloring or enjoy the visual feast of a gallery, I just found it difficult to be excellent at creating a piece of artwork. Math, science, spelling, history, those were the subjects for me. There was only one way to do it – the right way.
Thankfully, while in college I became determined to overcome this mindset. One day while I sat on the back porch enjoying the afternoon sun, I began sketching from a picture in a history book. It was a portrait of a Native American man in a full headdress. His eyes were serious, his face marked with the lines of old age, and a challenge to sketch to say the least. I wore the eraser thin and became increasingly frustrated with my inability to transfer the image to my sketch pad.
Then, in a stroke of rare genius, I decided that I was just going to let it be wrong. I watched in amazement as the portrait unfolded. The eyes, though imperfect carried the same grave sense of humanity that first inspired me. I can confidently say that the resulting sketch is still my best, and is complimented regularly by the budding young artist in my family.
Fine art hanging on your wall isn’t the only benefit to letting go of the little things. Here are a few more advantages to embracing the imperfect in our daily routine:
- Less stress
- Extra time with family
- More confidence
- Freedom to be yourself
Mastering the To Do List by Sandra Beck, Motherhood Incorporated
September 11, 2009
by Sandra Beck, Motherhood Incorporated
Is your To Do list cluttered or covered in dust? Maybe your To Do list is a mess of subconscious worries prone to resurfacing at the most inconvenient times. A To Do list is a work-at-home mom essential. Here are a few tips to help you manage the job that never ends:
Write it down. Give your brain a break by writing everything down. When you are juggling a career and family your mind is bound to be distracted at various times throughout the day. Once you have noted an action that needs your attention, your mind will be free to return to the task at hand.
Keep it all in one place. Whether you prefer a notepad, daily planner, or PDA, be consistent with where you keep your To Do items. A note in your purse, another on the back of your hand and a third hanging on the refrigerator only adds confusion to an already hectic day.
Use single action items. Your To Do list should consist of specific action items, not projects or goals. These are the steps you take to complete a project, or accomplish your goals. When you finish a task, cross it off. When you work at home your boss isn’t there to pat you on the back, so you may find it gratifying to assess what you have accomplished at the end of the day.
Be specific, the more details the better. If you include all the information you need to complete the task at hand, you will be able to finish it with ease. This is especially helpful when squeezing things in throughout the day. A quick phone call while you are in the waiting room of your doctor’s office becomes simple when the phone number is at your finger tips.
Estimate the time you need. Be realistic with yourself about how long it actually takes to get things done. If you block off a half an hour to run 30 errands, you’re not likely to stay on schedule. Your schedule is there to help you plan out your day. Overextending yourself will only leave you feeling stressed out and let down.
Categorize your list. Breaking your list into categories will help you become more efficient. Use a page in your planner or notebook for errands, another for phone calls, and a third for emails. If you are in the car, flip to the errand page and check off anything on the way to or from your destination. You can save loads of time by accomplishing similar items while you have the resources readily available.
Set priorities. Use priorities to keep from falling behind. Make sure you accomplish the items at the top of your priority list, but don’t be afraid to group those items with less urgent tasks that can be done at the same time. The goal here is efficiency.
Reassess regularly. One phone call can change your priorities in an instant. Review your priorities and change them as necessary. If your To Do list isn’t quite working for you, switch it up a bit. A few minutes invested now can add up to hours of time saved in the long run.
