When Your Paycheck Isn't Enough

Whether you’re in between jobs, starting your own business or just getting your new MLM (multi-level marketing) venture off the ground you might be faced with a situation where your paycheck isn’t enough.

The number of women starting their own business from home or taking on a side venture of joining a MLM are growing rapidly. Us moms realize that we want to provide so much for our children and we’re willing to sacrifice sleep to make it happen. You stay up late crunching numbers, preparing social media posts and scheduling your day down to every minute so you can get your housework taken care of, spend time with your kids and build your empire.

Here’s what I recommend for anyone wanting to venture on your own and your paycheck isn’t enough to cover your bills:

Create your budget.

When you realize your paycheck isn’t enough to cover your bills and it’s gone too fast then it’s time to create a budget. Make sure your budget is honest and reflects all of your net income (what you take home) and your expenses. You might have to pull bank statements and credit card statements to remember everything. I would recommend back tracking for at least 30 to 60 days. That way you can get a more honest view of what you’re spending.

Ask for money.

If you work for someone else and put in an honest day’s work then don’t be afraid to ask for more money. It’s inevitable to take on more when you work for someone else and are succeeding at your daily tasks. It happens all the time. You are kicking butt and taking names, then your boss comes to you and asks you to take on a new project for the office. You accomplish it and smash your boss’ goal. Then a co-worker gets sick, goes on maternity leave or leaves the office for good and you end up taking on some of their tasks. Before you realize it you’re doing the work of three on the same salary as one.

Don’t be afraid to schedule a meeting with your supervisor to ask for a way to earn more money. Be prepared for your meeting – having talking points, examples of your work and know when the last time you received a raise. And don’t be overzealous when it comes to your request – make sure what you’re asking for is reasonable for your tasks, your employer and the time you’re spending.

Be smart and plan.

Take the time to plan and save before jumping ship in your current income stream. If you have a day job that doesn’t float your boat anymore don’t just walk in and quit one day. Take your time and plan it out. Make sure you start stockpiling your money in a savings account to help cover you for when you make the big move. Make sure your monthly budget is in check so you’re only spending what’s absolutely necessary and saving the rest.

Work a little too hard for a while.

Now I am not one to suggest biting off more than you can chew, but maybe you have to do a little juggling to get your ball rolling. Perhaps you work for the first 6 months on the weekends or late at night to get your business growing. Schedule time on the weekends where you can get away from all your distractions for a few hours. It’s amazing what you can accomplish when you have uninterrupted time to focus – no baby crying for you and no dishes in the sink.

My husband and little man have father-son dates for a few hours on Saturday. They either play at home and I run up to my co-working space or they go out and run errands together. Out little man loves spending time with his daddy and I get time to work. On the weekends where my husband has work to do or is out of town then my parents will keep our little guy for a few hours so I can focus.

Build your following.

While you’re working on building your empire you might be soliciting your friends and family to buy from you. Which is fine and gives you good practice on asking for the sale and dealing with rejection. However, make sure you’re spending your time wisely. Create content and join FB groups that give you the chance to help others. When you come from a place of wanting to serve and not just making more money then you will see a growth happen.

Personally, I’ve joined several groups just to learn from other business owners. When a question is asked that I know the answer to then I make sure to respond. I never push my products or my offerings. But I come from a place of truly wanting to help. I’ve noticed the number of visits to my sites, my subscribers and my sales have increased just from simply putting my name out there as an expert.

Make sure to spend your time wisely. If you’re going to be on social media anyway then spend that time posting good quality pictures, responding to comments and liking other people’s content.