With the cost of childcare at an all-time high, you might find yourself opting to work from home instead of trekking to the office. At first, this seems a great idea. You don’t have to pay for child-minders or nurseries, and is there more time with your young brood, and you can finally take that leap into being your own boss. However, as with any business venture, there is the real likelihood of your new freelance life tanking in the first year if you don’t make sure that your start-up costs are less than your incoming revenue.
Set a schedule
Just because your new office is ten steps from your bed, doesn’t mean that your freelance business is going to be successful if you start work at midday because you lost track of time making breakfast. Keeping to a schedule is also good for children, so make sure everyone starts their day promptly at 9 AM. Likewise, lunchtime for everybody should be at midday. If you’re firm about setting your work boundary, you ought to be finished at 5 PM, ready to make dinner and get your family fed.
Don’t get into debt
When you’re starting out, you might feel a real temptation to invest in all new computers, software, office furniture, and other accessories. Don’t just go on a mad trolley dash to buy shiny new things–make a careful inventory of everything you really do need and be brutal about crossing extra items off the list.
We search your tax refund right
Freelancers are entitled to a certain amount of re-compensation for business expenses incurred in the running of the business. You need to keep a tally of items that you have bought as a freelancer, and the government may be able to reimburse what they have taken from you in tax. Companies such as RIFT UK specialise in tax rebates.
Use online meeting software
Once you’ve met with a new client in person and built up that first level of confidence, it is prudent to use free online meeting software such as Google hangout or Skype. You’ll be surprised at how much this saves in travel costs, food expenses, and importantly, and how it cuts down on wasted time. After all, your time is your money. This software is easy to use, completely free of charge, and allows you to also send files and hyperlinks alongside video and voice chatting with your client and business partners.
Working from home as a stay at home parent can be a wise decision for you and your family. However, bad organisation and planning, not to mention extravagant spending at the start of your business, can quickly mean a fantastic idea turns into a liability that will have you wishing to be back in the office with the boss staring down your neck once more. If you have any handy tips on saving money as a stay at home freelancer and parents, then please leave your thoughts in the comments. We could all do with a little bit of advice and support!