By Anum Yoon
Being self-employed can be incredibly liberating. You are allowed to follow your passions and make your own rules. Being self-employed can also be incredibly burdensome. If you aren’t working, you aren’t making money.
When it comes to taking long periods of time off work, like maternity leave, self-employed women must be more prepared than women who get employer-paid time off. It’s not impossible, but it does take some careful consideration.
Here’s how to make the best of your maternity leave when you work from home.
Save, Save, Save
Some states offer paid family leave for self-employed women, but most don’t. If you don’t live in a state that offers this kind of disability insurance, it will be up to you to save money prior to your leave. Decide how much time you’d like to take away from work then plan your savings accordingly. Also consider your future medical bills.
Everyone has heard the old adage a penny saved is a penny earned, but I’ve got a new one for you: a penny gifted is a penny saved. In other words, be smart about your baby shower registry. Yes, those frilly dresses and miniature tuxedos are adorable, but they are not practical or necessary. Ask friends and relatives for baby items that require a constant supply – diapers, wipes and creams. The less money you have to shell out for daily expenses, the further your saved dollars will stretch. (more…)
Posted in Work at Home