Financial tips for moms working from home
It is best to pay your bills first In order to ensure that you remain in control of your finances.
The flexible nature of working from home is appealing for new moms and many opt for this when the pitter patter of little feet is on the horizon.
“This transition can often begin when moms say their farewells before heading off on maternity leave.
“It can be difficult to manage your finances and your home when there are few people who can advise you on how you should be managing your income,” said African Bank Executive, Ms Mellony Ramalho.
Moms who work from home need to get used to the fact that a steady income is not a reality.
It is best to pay your bills first, in order to ensure that you remain in control of your finances.
“Ensure that all of your repayments are made on loans, credit cards or on your bond, and ensure that your monthly debit orders are covered. Once you’ve paid your bills, be sure to put some of your money into a savings account that delivers a steady interest rate that will guarantee growth,” said Ms Ramalho.
“It is important to be sure that you funnel a portion of your income into a credit card account.
“This will ensure that you have enough credit. Keep your account in the positive as it gives you some leeway for monthly payments if your income is less than expected,” said Ms Ramalho.
“Don’t let your financial situation consume your time.
“Make smart short-term decisions that will ensure a profitable and hassle-free future. Running a home and a business can be challenging, but with the right financial advice, money will be one less thing that you will worry about,” said Ms Ramalho.
