9 Financial Freedom Strategies For A Stay-At-Home Parent

Want to stay at home but afraid that you won’t make as much money?

As a stay-at-home parent, I make the same amount of money as when I was working, but how I do it is key.

I’m going to share with you 9 Financial Freedom Strategies For a Stay-At Home Parent, so that you can make more money quitting that job and staying home with the kiddies!

1. Tax Savings – The first benefit is that if you quit your job, you may drop a tax bracket. If that happens, you actually will pay substantially less in taxes if you quit your job. When I quit, our accountant estimated that we would save $22,000 in taxes!!!!! Check with your accountant to see what would happen if you quit in terms of taxes.
2. Better Health and Lower Health Care Costs – As a stay-at-home Mom I am much healthier than when I was working my job. I’m not exposed to office germs, I get enough sleep, I have way less stress, I’m happier… My family is also less stressed because Mommy is supporting them, and spending more time cooking healthy food and taking our son out to the play ground. The result is we save hundreds of dollars on our medical bills!
3. Real Estate Appreciation – As a stay-at-home parent, I have time to handle our property. If we need the plumber to come by, I’m available. I can paint or fix little things around our place as well. The result is a more valuable property, and more equity for our family.
4. Real Estate Investing – Since I don’t work a job, I have time in the mornings to look for investment properties, and if a good one pops up, I can go instantly to view it, and I can do the analysis to do an offer in a day or two. It’s because I have the time! We already own 1 investment property and our current residence. The profit from our last sale surpassed what I used to make for my job.
5. Investing for the Family – As a stay-at-home parent, I have time to calculate our Net Worth, Passive Income, Cash Flow and Financial Freedom account numbers every month. I set up our savings transfers and research and invest in passive income generating investments. This of course makes us wealthier!
6. Happier Marriage – As a stay-at-home Mommy, I focus on keeping myself happy, and my husband and my son. I cook for them, help them with their projects. I go on a date night every week with my husband. I meditate daily and have a spiritual practice. This creates a happier marriage, and this generates our family way more income and wealth.
7. Follow Your Dream – When I quit my job, I focused on my blog and also started coaching others how to create financial freedom. Not only is it fun, I feel like I’m following my true purpose, which is what I’ve been searching for all my life. If you stay at home, you can also takes steps to follow your dream, whether it’s your own business or art or fishing! Following your dream will bring in happy money, as you help others and feel good about it!
8. Small Business Write Offs – So, focusing on my business has led to a lot of write offs that have reduced our taxes a lot! Business income isn’t taxed like working income. You can deduct expenses first, and then get taxed on what’s left over. Discuss this with your accountant.
9. The Priceless Time You Spend With Your Family – Imagine you are dying tomorrow, what is really important to you? Is it being with your family or going to work? The time you spend with your family really is priceless! That’s something you can never buy when it has passed by. Seriously, if you were financially free, wouldn’t you be spending more time with your family? So start spending more time with them now!

Conclusion

I write from my experience as a stay-at-home mom and I hope these 9 strategies help you attain Financial Freedom too!

Please let me know if you have and comments, compliments or questions in the comments below!!!