April 28th, 2008
By Nicole Ocean
Some of the things that I like best about being my own boss are the flexibility I have over when and how I work. I absolutely love being able to wake up on a weekday and decide that I want to go do something fun instead of work that day. Of course I do this when all of my work is caught up and thus it feels like I am rewarding myself.
Along with the freedom of being able to call my own shots within all aspects of my business there are also some downsides to being my own boss. I find that it is difficult to limit the hours that I work. This translates into working on the weekends and at night. There have been times where I have gotten burnt out and needed to take a break for a few weeks. I can see the direct correlation between when I choose to work while my son is home and how this has hurt the quality of our relationship overall. I have learned that it is best for me and for my son to try to get as much work done while he is in school.
Some of the other things that are difficult to balance are in the need to put money aside from my self-employment earnings to pay for taxes at the beginning of the next year. I have been surprised with having to pay over $2,000 dollars in self-employment tax and decided that instead of paying it off right away that I would set up monthly payments where I could pay $100.00 dollars each month until it was paid off. Let’s face it; it is tough being a single-mother, let alone a mother. Then put on top of that tall list of responsibilities and duties, being your own boss. It is not for the faint of heart or those weak in conviction and perseverance.