How can I prepare....?

Okay here is the deal. My husband and I own a residential/small commercial electrical wiring company. I work 40 hours a week and also do the books, payroll.etc for our business. How can I get to the point where I can stay at home and just work for our business? What is the debt/income ratio that is needed for this to succeed? We are in the process of paying off our vehicles. I pay extra every month. I also pay more on the mortgage. All answeres are appreciated.

Answer:
Would need much more information than you are giving to really answer this question.

Two suggestions, can you work part time at the job you are currently working at to transition to staying at home and just working at your business.

Also, don't know what you are doing in your full time job, but is it something that you could do from home, either for the same employer, or as your own business. For example if you are working at an accounting office, could you do that from home for other companies along with your work for your own business.

Just a couple of thoughts. To really answer the question financially, do a detailed budget and figure out the impact of not working the full time job, include all aspects, lost income, transportation costs, child care if any, etc.

That's the only financial way to figure it out, but even if it doesn't quite break even, you might be better off to do it for your family if the finances of the family can handle it. Other Questions and Answers:

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How can I prepare....?

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