Finding out that you are expecting your first child can be a mix of feelings – joy, overwhelm and confusion – especially when it comes to money matters.
Often the confusion starts from how are you going to cope, and then what about work – will you quit and become a full-time mum, will you reduce your hours so you can spend more time with your baby, or will you work full-time because you need the money?
Whatever your option, there will still be bills to pay and a family to feed, so you will still need to earn money. So what are the options?
Option 1: high flyer with enough change after childcare costs
Stay working for your employer
For some mothers, working full-time or reducing hours at work is the only option they want to consider. Having a steady income (although no job is for life these days!) works well, and you can basically continue as you were before – with a few adjustments here and there for childcare.
Option 2: love my career, just not my job
Go freelance
If you work in an industry that enables you to freelance your skills, and you have built enough contacts to get you started, this is a fantastic way to break free from the chains of an inflexible employer, and the daily grind of juggling work and childcare.
You can start to look into this during your pregnancy, and start making contacts on websites like LinkedIn, so that by the time you are ready to start working again post-baby you don’t have to be under pressure to both make contacts and earn money.
Option 3: ready to work my way, for myself
Start a business
I’ve lost count of the number of mums who start penning their business either during pregnancy or while on maternity leave. Just read the inspirational stories from our Real Mums and you will see that lack of products and services can spawn some of the best and most lucrative business Essex for mums (or mumpreneurs).
If this sounds like what you want to do but don’t know quite how to get started or you need some guidance, join The Mothers Who Work Club today and you’ll gain access to video and audio tutorials, downloadable guides and more.
Option 4: looking for a lifestyle change that still earns money
Join a business opportunity that you can run as your own
We all know an Avon lady, or someone selling some type of products for a company. But did you know that network marketing (moor multi-level marketing) is not actually about sales?
There is a recruitment side to it, too, and if you have a friends and family who are also looking for a way to earn an extra income, then you really should consider a network marketing business because it is one of the best flexible ways of working available.
Working in network marketing is a great way to gain the skills and experience you may never gain in employment until you are at senior level. So, if you do not recruit people currently, you will get to do this. If you do not manage any financial responsibility, you will get to d this.
Those are just examples, but imagine what benefits they will have on your CV if you choose to apply for a more senior job further down the line?
Option 5: business minded, but no business idea
Buy a franchise
If you like the idea of running your own business but don’t have a business idea of your own, you could consider buying a franchise.
Franchises cover just about every sector available – from childcare to pizza, so the options are many.
Just make sure you do your research I to the business you are buying into, and ensure that there is a good training and support package available for when you need it.
Option 6: not working is not an option!
Be a full-time mum
At the risk of starting a stay-at-home mum versus working mums war, at Motherswhowork.co.uk, we believe that every mother should work in some form – the challenge is finding the best option for you and your family’s needs.
Long gone are the days when just one income was enough – the economy is no longer what it used to be, and putting all your eggs in one basket (your spouse or partner’s) is too risky. And living on benefits should not be a back-up plan either.
The other downside is that when your children reach school age, if you have been out of work for all those years, starting back into the world of work can be a momentous task, and it’s as if you have to learn to walk all over again.
At the very least you can join a network marketing opportunity and earn some income at your own pace. It will get you out of the house, and keep your mind free from just thinking about nappies and wipes all day.
Plus, when you are ready to earn more, you will be able to increase he hours that you put in according to your needs. And you will gain a tremendous amount of confidence from it, not to mention transferable skills for setting up your own business. You owe it to yourself.
