LifestyleMotherhood + Parenting Tips

5 Financial Tips for Moms Who are Self-Employed











Being self-employed and a mom means that you are just working all of the time. Whether you are selling for a major brand on your own, blogging, home help, home décor, etc., there are many important aspects of managing a business that comes along with having your own business. The most important one that gets overlooked often is the financial aspect of the self-employed business. When beginning a business and looking to grow it as a sole entrepreneur, you must have your finances in order to be able to continue your business and grow it. Taking your freelance business and turning it into a legitimate self-employment is a big step in the right direction.

Along with being a mom, you are taking the step to become self-employed but want to make sure you are doing it correctly. How can you make sure that you aren’t just spending tons of money and getting nothing in return? Taking the leap into being self-employed comes with many struggles along the way. Rest assured that there are many companies out there who are willing to help you with your venture and know that there are many resources for you to research and answer questions that you are having. 2018 is a great time to become self-employed based on the plethora of resources that exist out there today. Self-employment means having to manage your finances and managing them correctly. Here are some tips to help get you on the right path of self-employment.

Photo by luciano de sa on Unsplash


  1. Self employed loans: This is a great loan for working moms or stay at home moms who are looking to start their own business. This loan helps individuals buy commercial property, real estate, construction and more. It helps to put down payments on locations.
  2. Hard money loan: A hard money loan is a type of financing in which the borrower receives funds based mainly on the value/equity of the real estate. This type of loan is typically for applicants who have bad credit or no credit history or have no income verification. This loan makes it possible for stay at home moms to open their businesses, even though they have had no income.
  3. Set your rates: Setting specific rates are important to your success in the financial world. Spend time creating a marketing kit that includes your rates for your business. Make sure your business plan is up to date and everything is matching now that you are a legitimate business.
  4. Maintain separate monthly budgets: Managing your home finances alongside of your business is important instead of trying to combine them. It does make for more work, however, when it is time to do your taxes, trying to separate everything will be much more difficult at that time that it’s worth. There are tons of websites that can help you manage your books and monthly budgets. Make sure to find one that works best for you and is easy for you to use.
  5. Manage accounts and taxes: Find a great accountant that is willing to help you and talk you through what you need to maintain for records. If that is not possible, there are websites and programs that you can purchase to help you do your taxes for your business. Keeping records u to date is an important piece of the success to your business.


Self-employment is a tough venture to get started and have it really take off. Mostly it takes a lot of time and a lot of effort. Remembering that making money in your new self-employment does not happen overnight and patience is the key. The hard work and dedication you pour into a business will eventually pay off.



FEATURED PHOTO Photo by Dai KE on Unsplash

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TWL Working Mom

Jennifer is the Owner of TWL Working Moms and Co-Owner of Influential Mamas.  Along with blogging + freelance writing, she is a mom, army wife and full-time teacher. Jennifer lives in Washington State and is a born + raised New Yorker. In her spare time, she loves traveling, yoga, the beach, writing, listening to books and drinking coffee.

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