Do you think it’s possible to make money as a work at home mom?
Two months ago I set 4 goals:
1.) Generate $2,000 profit a month
2.) Clear $20,059.38 debt
3.) Save $10,000 by 21/31/2017
4.) Intimacy challenge with my husband
After setting those goals, I also wrote about my net worth in this post. I have edited it to clarify it is my net worth, not my husbands net worth and mine combined.
In my last update, I had made $2,015.50 in profit for the month, I had cleared $945.47 of my debt, reducing it to $19,113.91, not started my savings and changed my net worth from -$1,476.56 to -$28.99 (yes, both those numbers are MINUS, as in my net worth is in the negatives!). I had not yet shared exactly what the intimacy challenge was, it is going well though.
This month I made $13,335!
This was an unusual month and I can hardly believe it. I have one long-term contract worth $2,300 a month, so where did the other $11,035 come from?
Online Surveys – $35
I only used SwagBucks this month, but I made $35, mostly from referrals. You can make money with SwagBucks through daily surveys, using their search tool instead of searching with Google, doing quizzes, games and participating in team events, along with referrals. It’s fairly easy, I don’t spend much time on it, but every bit helps.
Freelance Writing – $2,000
I landed a quick contract with 10 articles for $2,000. Freelance writing rates vary drastically but what helped me was to do a course on freelance writing. I didn’t go to college, but I am a huge believer in education. As such, I have taken it upon myself to learn as much as I can about any topic, especially ones relating to how I want to make money online.
Social Media Management – $9,000
I didn’t plan on doing this originally, and if you follow Piggy Bank Dreams on social media, sorry! I have been so busy doing social media for others, this got left behind. This is where I got really lucky. I was recommended to someone in a Facebook group and after a few Skype callings and feeling like it was never going to go anywhere, I landed a big contract that has me setting up multiple social media platforms, growing them, creating and curating content, the whole lot!
It is for two months only, then after the two months, depending on how it is all going, things will be renegotiated.
Regular Contract – $2,300
I am really happy to have this one as it will be my bread and butter money for a while I suspect.
Expenses
My expenses this month were a little more than last month
Hosting $13.95 (I really need to get on that and change it!)
Canva for work $119.40 (annual fee)
Insurance $206 (business)
Total expenses: $339.35
I am currently looking at hiring an assistant too, now that things have increased. This month I did it all myself, but it’s not sustainable if I continue to grow at this pace.
Month two profit
My total profit for my second month is $10,995.65. Which means, my net worth has changed!
Debt Updates
My $20.059.38 debt from two months ago consisted of 2 debts:
Debt 1 was $4,235.25 with 0% interest for 12 months
Debt 2 was $15,824.13 with 16.4% interest for 3 years and 8 months
Last month they were:
Debt 1 is now $3,580.95
Debt 2 is now $15,532.96
Now they are:
Debt 1 $3,111.30 (no extra payments from me, this one is just being paid off on it’s own, with the regular budget).
Debt 2 $4,723.48 (all extra money I earned this month, above the $2,300 regular contract and minus expenses went to this debt, plus the regular monthly payment.)
Net Worth
I started at 1$1,476.56 not including money I was owed, got to -$28.99 last month. Now, my networth is:
Assets
Savings: $1.20
Retirement funds: $9,504.37 ($200 increase here)
Collection: $8,249
Car: $2,000
Total: $19,754.57
Debt/liabilities
Personal loan 1: $3111.30
Personal loan 2:$4,723.48
Total: $7,834.78
Assets ($19,754.57) – Liabilities ($7,834.78) = $11,919.79
Current net worth:$11,919.79!!!
This means, in two months I have gone from a negative net worth to a positive net worth. From making no money at home to make a few thousand a month and I suspect I will be completing my goals way ahead of when I anticipated.
Do you work from home? What do you do and how did you get into it?