Goals for a new work at home mom

Piggy Bank Dreams recently changed hands, but the content will be similar. I’m in my mid 30’s, married and a Christian mother of two daughters. I’ll share my experience as a work at home mom while striving to be the best mom, wife and woman I can be.

While I will blog under the name Ms PiggyBank, with everything else I will be totally transparent. I’ll share exactly how much debt I am paying off, how I make money (and how much), along with my statistics on here etc. I want to make it easy for you to make money as a work at home mom, improve your relationship with your spouse and children and do things in your life that are meaningful and fulfilling to you.

Laura, the founder of the site shared what she was doing as a work at home mom, wife and mother. I will keep the site going along similar themes.

I’ll share everything I do in pursuit of my ideal work from home mom life including income reports, my debt reduction, the different ways I make and save money and snippets of my life.

Four big goals I have and will share are:

1. Generate $2,000 per month in profit online
2. Clear $20,059.38 in debt
3. Save $10,000 by 12/31/17
4. Intimacy challenge. I love my husband dearly, I feel in the past few months we have gotten into a rut. I’ll be doing an intimacy challenge (intimacy to me is more than just ‘adult’ fun time, it’s all the small things that connect you as a couple.)

Generate $2,000 per month in profit online

My husband and I split our expenses. Until recently I had regular income. My goal is to replace what I earned to cover my portion of expenses. I don’t have to do this, my husband could and would cover all our expenses. I am choosing to do this. My portion includes personal debts which I don’t want him paying. I state $2,000 per month in profit because there will be expenses associated with running this blog and other online pursuits. I will share them all, income and expenses as I go along.

I think everyone should always be able to provide for themselves, each family should have multiple streams of income and essentially ‘self insure’ with these multiple streams of income should anything happen to either partner. I have too many friends who have ended up divorced or one partner has had a major illness or worse, passed away. While all those scenarios are heartbreaking, it is even harder when financial security is missing too.

Not having the pressure of needing to make the $2,000 a month is an advantage, as is having the buffer of my husbands income, I won’t deny that. I am grateful to be in this position. I would love to be able to contribute financially to the family again and help us create a financially free future.

$2,000 is my starter goal. Once I achieve it, I will be aiming for $5,000.

Clear $20,059.38 in debt

I have two debts:
Debt 1 is $4,235.25 with 0% interest for 12 months

Debt 2 is $15,824.13 with 16.4% interest for 3 years and 8 months

My goal is to clear these debts within one year – 9/12/2017. This is a lofty goal, after my regular payments it works out to be an extra $250 per week I need (not taking into account the decrease in the amount of interest paid and increase of principal paid as the loan is reduced.

How exactly will I clear this debt?

1. Continuing with the payments, switching from monthly to bi-monthly. It’s a small change but it means my money is working to reduce the interest a little bit more each month than if I do monthly payments.
2. Any profit I make above the $2,000 a month goal will go towards this debt.
3. Sell off a few things. I have some clothes and things I can sell. Going off the price on eBay of similar sold items, I can make $200 to $500 with this.
4. Be consistent and focused. Getting into debt is easy, getting out of it is the hard part. I do not want to continue paying hundreds of dollars a month on debt. With my debt clear, my expenses drop drastically.

Save $10,000 by 12/31/17

Once the debts are gone the payments I was making on them will go straight to savings. If I can clear over $20,000 debt in 6 months, I feel confident I can save $10,000 in 6 months. I’ll do it the same way I pay down my debt, with a focus on generating more income to put towards savings.

Intimacy challenge

As mentioned, I love my husband but we are in a rut. I’ll share a post about my intimacy challenge soon. Basically, it’ll be about doing something every day to connect with my husband and strengthen our relationship.
What are your goals?
I’m excited to be here, sharing what I am doing as a work at home mom, clearing debt, saving money and improving my relationship. What goals do you have? How can I help you here?