Home Business Ideas for Mums

With childcare costs as high as they are working in the home is an appealing option for many mums. Unfortunately there are a lot of unscrupulous people promising unrealistically high earnings for home working jobs. To help you find an opportunity that really can earn you money from home we’ve put together 5 home business ideas for mums. These aren’t get rich quick ideas and all will take time to establish but, with hard work, can create an income.

Information products

Information products describes a range of products, usually online, that provide the purchaser with information they need. The products might be books, ebooks, courses or access to a library of resources via a subscription payment. The hard work is in creating the products or writing the book, once that’s done, the focus is on marketing them. This way you can continue to make money from them long after the initial hard work is finished.  If you’d like to go down the writing route, then you’ll need a publisher, there are some great publishing companies in Canada.

E-commerce

If there’s a product you’re passionate about then selling online could be for you. If you’re fairly good with a computer then there are plenty of packages that will help you to build an e-commerce site. You couldn’t also consider selling through another platform. eBay is a popular choice as is Amazon. If you’re selling something you’ve created yourself then Etsy can work well. Just bear in mind that all of these sites will charge you a fee for using them, usually a percentage of sales. If you plan to hold stock you’ll need some storage space, either at home or through a company. Alternatively you could look at drop shipping, where you take the orders and pass them on to another company to ship. Read about Mums who run e-commerce businesses.

Selling Private Label Products

Private label products allow you to buy a product and then add your own branding before selling it on at a profit. It can work well if you want to do something like start skincare business or a clothing business. Private label products can also be digital products like printables which eliminates the need to store stock.

Bespoke items

Bespoke items are one of the few things that small businesses can often do better than large ones. There are hundreds of items that can be personalised for buyers for example clothing, food items, gifts, stationery or furniture. Just be prepared to spend as much time Marketing the business as you do on the creative process. Check out our stories from mums who’s create bespoke items.

Blogging

Of all our home business ideas for mums this one will probably take the longest to build in to a profitable business. However if you enjoy writing it may be one of the most fulfilling. Bloggers make there money from advertising on their blogs. In some cases they will be given a product as payment for reviewing it, in others they will be paid either to write a post about something or to publish a post written by someone else. They also sometimes sell display advertising on the blog and run affiliate programs like Google Adsense. Read blogger KatyKicker’s story for inspiration or check out this fab course on how to get started as a blogger.

Virtual assistant

If you have excellent admin skills then you could put them to use to creat an income. Many small business owners prefer to focus on the core elements of their business and outsource the admin to someone else. This creates opportunities for people whose forte is admin. You’ll need a decent laptop and good broadband speed to make it work. Networking skills to help you find your clients. To the stories from Mums who have become VAs have a look at our business to business stories.

Other home business ideas for mums

We’re tried to stick here to home business ideas for mums that are fairly accessible to everyone but if you have a particular skill set you may well be able to make use of it at home. You may be knowledgable about something that you could teach. You could either do it by inviting clients to your home or via the internet. If you’re a coach or counsellor you could offer your services via Skype. Perhaps you could do something you’ve done before but on a freelance basis. Whatever home business idea you choose to go for, make sure that you meet the legal requirements by getting insured and informing the council, landlord or mortgage company if necessary.

Want to start a business but not sure which one is right for you? Check out this review of “How to Become a Work From Home Mum” a book with over 50 work from home mum ideas.

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Home business ideas for mums

5 Inspections To Carry Out In Your Workplace

Inspections can help to make sure that your workplace meets certain standards. These standards may include legal requirements or simply advisories to help make your workplace better. It’s worth hiring a professional to carry out certain inspections. Below are just 5 inspections that every business with work premises can benefit from.

Physical security

Commercial buildings are a common target for burglars. You should consider how secure your workplace is against a break-in. For example, can windows and doors be easily prized open? Do you have a burglar alarm system installed? Are there cameras on your property?

A security inspection of your property may be able to help you find extra ways of deterring burglars and keeping your property secure. There are security companies that can carry out these inspections, helping to identify if locks are strong enough or if windows are made of a suitable material.

Cybersecurity

A lot of criminals are now using the internet to steal and extort money from businesses. Strong cybersecurity can help you to fend off hackers and viruses. This includes using cloud storage, keeping software secure, using strong passwords, keeping your network secure and making sure that your website is secure.

Managed IT services are worth investing in to help you improve your cybersecurity. Such companies can take a look at your IT infrastructure and help to patch up any vulnerabilities.

Fire

A fire could destroy your premises and property, as well as causing harm to you and your employees. It is important that you invest in certain fire safety measures to reduce the risk of a fire (many measures may even be legally compulsory if you have employees). This could include having the appropriate alarms and extinguishers, as well as having clear fire escape routes. 

You should get a fire risk assessment done on your property to check that it is safe. This should be carried out by a qualified expert.

 

General health and safety

General health and safety is also something that your company needs to keep on top of. This includes everything from maintaining clean air quality to using the right type of protective equipment. 

A health and safety audit will be able to identify any health and safety risks that need to be protected against. This should be carried out by a professional health and safety inspector. You may find that there are different health and safety inspectors that specialise in different industries.

Energy-efficiency

Reducing your company’s energy usage can help you to save money and reduce your company’s carbon footprint. There are many things that can impact energy-efficiency from the machinery you use to the level of insulation. Not all of this is obvious, which is why you may want to organise a professional audit. 

An energy audit of your premises will be able to determine what improvements you can make to save energy. At the very least, your workplace should meet legal energy requirements.

How Busy Mums Can Successfully Work From Home

When you’re a mum, you find that your life revolves around the little ones in your life. They take priority, as they depend on you for their every need. It can feel like a juggling act to keep everything running smoothly. This feeling compounds when you’re a working mum.

For some mums, earning an extra income is a necessary part of keeping their household afloat. Once, this meant paying for childcare or finding a willing family member and going out to work. However, the rise in remote working has opened up avenues for mothers to work from home.

 

Why Set Up a Home Business

The great thing about home businesses is that there is a wide variety of business options for you to choose from. You can find work that takes up only a few hours each week, so you still have plenty of time for your child or children. You don’t have to worry about finding childcare because you can work with your child in the room with you, or while they’re napping. 

One of the best things about working from home is the flexibility it allows. When you work for yourself, you can set your hours. So you can work around your family, not the other way around. Get a couple of hours done in the evenings and on the weekends.

As your children get older and less dependent on you, and especially when they start school or nursery, you will find your time opening up again. However, most jobs still make it difficult to make the school commute. If you work from home, then you can fit this into your schedule and work during school hours. 

 

Tips and Tricks

While there are plenty of reasons to set up a home business, working from home has its challenges, especially when it comes to working with children in the room with you. You may get distracted, particularly if your children are young and rambunctious. Or you may struggle with your work-life balance.

But there are some ways to mitigate these challenges and help your home business to succeed. 

Create a separate office space. While it’s not always possible to have a room to yourself for working, you can at least take up a corner somewhere with a dedicated desk. Working from the sofa or even the kitchen table is a quick path to back problems. 

Use a virtual address service. If you’re shipping things to or from your home, you may not want your home address to be made public. Or, if this isn’t something you worry about, then a virtual business address can still provide a measure of professionalism and legitimacy to your business. 

Use a schedule. You may try to just work when you have time, but the problem with this method is that you’ll never have time. There is always something to do as a mum, so you have to set aside time to get work done. Even a couple of hours a day is something. 

Time and Attendance Software: What You Need to Know

Do you have a small company and need to keep track of employee time and attendance? Are you a mum who needs to work from home but needs an accurate way to track your work hours? Then, time and attendance software might be just what you need! This software can help your organisation by tracking employee hours, automating payroll processes, and improving overall efficiency in the workplace. This blog post will explore why time and attendance software is so essential. Keep reading to learn more!

What is Time and Attendance Software?

Time and attendance tracking software is a system that helps businesses track employee time and attendance. This type of software can be used to monitor when employees clock in and out and how many hours they work each day. Time and attendance software can also generate reports on employee productivity and compliance with company policies.

 

How Can Time and Attendance Software Benefit Your Organisation?

If you manage a team of employees, you know that keeping track of time and attendance can be a challenge. There are many variables to consider, such as vacation days, sick days, personal days, etc. This is where a time and attendance system comes in handy.

A time and attendance system is designed to help managers keep track of employee hours worked. This information can be used to generate reports that show which employees are working the most hours, what type of work they are doing, and how much overtime they are accruing.

Time and attendance systems can also help managers identify patterns of absenteeism so that they can address the issue with the appropriate employees. Additionally, these systems can calculate payroll accurately and on time.

Overall, a time and attendance system is a valuable tool that can help managers improve efficiency in the workplace. However, if you are considering implementing such an attendance tracking software in your business, do your research to find the best option for your needs.

 

What Features Should You Look for in a Time and Attendance System?

When looking for a time and attendance system, you should keep a few key features in mind. First, the system should be able to track employee hours accurately. This means that the system should be able to track when employees clock in and out, as well as break times and overtime hours.

Another essential feature to look for is compatibility with your existing payroll system. This will make it much easier to integrate the time and attendance data into your payroll process. Additionally, some plans offer additional features such as leave tracking and project costing. These can be helpful if you need to track employee hours for specific projects or tasks.

Finally, make sure to consider the cost of the system before making a purchase. Time and attendance systems can vary widely in price, so it’s crucial to find one that fits within your budget.

If you keep these features in mind, you’ll be sure to find a time and attendance system that meets your needs. And with the accurate data provided by the system, you’ll be able to save time and money on your payroll process.

 

Is a Time and Attendance System Worth the Investment?

As someone who owns and operates a business, you’re always looking for ways to increase efficiency and cut costs. You may have considered a time and attendance system, but you’re unsure if it’s worth the investment. However, there are many benefits of using a time and attendance system. Perhaps the most obvious benefit is that it can help you save money. By tracking employee hours more accurately, you can avoid overpaying employees for time they didn’t work. And by reducing time theft, you can also reduce your labour costs.

In addition to saving money, a time and attendance system can also help you improve productivity in your workplace. For example, having better data on employee hours worked can identify issues like excessive overtime or inefficient work processes. You can also use the data to create more accurate employee schedules. This can lead to happier employees and fewer scheduling conflicts.

In conclusion, time and attendance systems can have a positive impact on businesses of all sizes, and it is a worthwhile investment for any business. It can help you save money and improve productivity. If you’re thinking about implementing a time and attendance system in your business, consider all of the potential benefits it could bring. Then, choose the right system for your business, and start reaping the rewards.

 

How Successful Companies Avoid Common Pitfalls

Running a business takes a lot of time, hard work, and dedication. It’s not always smooth sailing and there may be times when things don’t go as planned. The reality is that there are many problems that may arise along the way and that will need to be addressed head-on.

The best approach is to learn what you can do to avoid future errors and ensure that you and your business thrive. Learn how successful companies avoid common pitfalls so you can come out on top and not get stuck in one place because of a particular setback that pops up and tries to stand in your way.

 

Put Their Customers First

Successful companies avoid common pitfalls by putting their customers first. You must not only know who your target audience is but get in front of them with the right messaging at the right times. You not only need to be able to attract quality leads and interested customers but also retain them over time. This way you can focus on growing your business instead of simply trying to stay afloat. When your customers are satisfied and loyal to your business then they’re more likely to advocate for you and speak highly of you to their networks. Avoid ignoring the customers you already have by letting them know you appreciate and value their business.

 

Perform Research & Testing

You can also avoid another common pitfall by doing your research and performing testing. For example, this becomes very important in pharma or when you’re working on drug development planning. One idea is to consider doing decentralized clinical trials to ensure you can reach a larger audience and experience better patient retention. This type of feedback will help you know if you’re on the right track and what changes may need to be made before you move forward with a new release.

 

Are Proactive & Anticipate Issues

Another tip for avoiding common pitfalls in business is to be proactive and anticipate issues before they arise. Study the business landscape and your industry and market and know what may be coming before it creates a disruption to your company and its future. Inform and educate yourself and bounce ideas off of others and people in the business community to get a better idea and an understanding of what may be soon arising. If you’re prepared for the worst or inevitable then there will be fewer surprises to deal with and you’ll likely have less of a mess to clean up.

 

Retain Good Employees

What you don’t want to do is take your employees for granted or not show them an appreciation for all their hard work. Focus on rewarding your employees fairly so that you can retain top talent in the long run. It can be frustrating and costly to have to keep replacing your staff with new employees and getting them up to speed on the culture and job tasks. Successful companies recognise what skills their workers have and delegate tasks to them appropriately so that they remain challenged and engaged on the job.  

Creating A Flyer You Are Proud Of

There are many potential reasons you might need to make a flyer. It could be in order to promote your business, or to promote an upcoming event – that might be a charity event, a yard sale, or whatever else you might be planning. The point is that flyers can very often be a highly effective way to spread the word about something important, and they work especially well for small-scale community information in this manner, in your local area primarily.

But to ensure that they do their job, they need to be attractive and to stand out to people as best as they can. This means you need to think about the design of your flyer and what goes into it, and you need to understand how you can make it look as attractive as possible. One way is to ensure you use a printing method which is going to look its very best, as that will mean that the item itself ends up looking amazing.

One example of that might be a foil printing method, which you can utilize in order to create flyers which are truly outstanding, and which people recognize easily and without trouble. If you take a look at the below, you will be able to understand a little of the basics surrounding foil printing, so that you can hope to use this yourself in creating the perfect flyer.

As long as you do that, you should have a flyer that you are genuinely proud of, and which has the desired effect.

Infographic designed by The Foil Printing Co.

4 Helpful Health and Safety Tips For Warehouse Workers

The warehouse industry is one of the most dangerous industries in the world and it is essential for workers to keep on top of their health and safety while working. Injuries are common in warehouses, with the most common injuries being cuts, bruises, and strains. In order to reduce these injuries, warehouse managers should be aware of the risk factors that can lead to injuries and work with their employees to implement safety procedures. Here are four health and safety tips for warehouse workers: 

 

Know Your Limits

Warehouse workers are often faced with dangerous and strenuous work conditions. This is because they are responsible for moving a lot of heavy stuff. Hence, they should know their limits while working to avoid any accidents or injuries.

In order to avoid any risks, warehouse workers should be aware of the dangers that they might face while working in this environment and take necessary precautions. This would help them stay safe and healthy at work.

 

Make Sure You Have Proper Lighting

Poor lighting in the workplace can cause a number of health and safety issues. It can lead to injuries and accidents, as well as eye strain.

The Occupational Safety & Health Administration (OSHA) recommends that employers provide workers with adequate lighting for their tasks. OSHA also recommends that employers use a combination of task-specific and general illumination to create a comfortable working environment for employees.

It’s important for warehouse workers to have the right kind of lighting in order for them to be able to see what they’re doing. They need a well-lit environment so that they can avoid accidents and injuries. If a warehouse worker has limited access to proper lighting, then they should ask their employer for help.

 

Keep All Work Areas Clean And Organized

Warehouse workers are often required to perform tasks that involve heavy lifting, bending, and reaching. These jobs can be strenuous and demanding, which is why it is important for these workers to keep their work areas clean and organized.

A clean work environment will help reduce the risk of accidents happening. For example, a worker might slip on an oil spill or trip over a misplaced box if they don’t have a clear path to walk on. Making better use of warehouse space can not only ensure that they are working in a safe environment, but also reduce the risk of accidents by keeping a clean area.

If you’re storing chemicals, particularly those that are corrosive or flammable, then you’ll want to make sure you have suitable chemical storage containers, you can find some good options here.

 

Be Aware of Your Surroundings

There are many hazards in a warehouse that can lead to injuries or even death. To ensure a safe working environment, warehouse workers should always be aware of their surroundings. This is because doing so would ensure that they are working with health and safety in mind.

There are many potential hazards in a warehouse. These include slippery floors, equipment with moving parts, machinery, and forklifts. The most common type of injury is related to the back and spine (such as back strains and sprains), followed by injuries to the feet and ankles, hands and wrists, knees and legs (such as knee sprains), shoulders and arms (such as rotator cuff injuries), head/neck/back of the head (such as whiplash), fingers or thumbs (including carpal tunnel syndrome). Another risk for injury is from falls or slips on wet or greasy surfaces.

These are just a few helpful tips that can help ensure that warehouse workers work in a safe environment. 

 

Simple Tips For Boosting Your Online Presence

The reality is that more people are spending their time on the Internet these days. It’s especially true in the wake of the pandemic and the fact that more people are working from home. If you’re a business owner then it’s a space you must take advantage of if you want to succeed.

It doesn’t matter if you’re a small business owner who’s at home or you’re in an office, it’s essential that you attract and secure customers. Therefore, you must find ways to improve your footprint and reputation online. Here you can learn some simple tips for boosting your online presence and ensuring your business gets noticed.

 

Create A Website & SEO Strategy

Boost your online presence for your business by creating a beautiful and fully optimised website. Make sure it works well on all devices, especially mobile. Your business website will act as the face of your brand online and can provide important information to those searching for more details about your company and products or services.

If you want to sell online , you’ll need to manage online store, Shopify is  a great platform which can make it easy for those who don’t have any experience of building an e-commerce site.

You not only need quickly loading pages and high-quality images but also an SEO strategy to ensure your site is noticed and pops up in search engines. It’s a way to drive more traffic to your website and boost your rankings so you can increase leads and conversions.

 

 

Produce Engaging Content

Your entire goal of putting information out on the Internet as a company is to offer value to potential customers. One way to do this and boost your online presence is to produce engaging and interesting content your visitors and potential customers want to read. If copywriting and blog writing isn’t your strong suit then consider enlisting help from a digital content agency. They’re the experts and know and understand what drives more engagement, leads, and traffic in this space.

 

Have A Strong Social Media Presence

Another area you can’t afford to ignore or not be present is on social media. Take the time to figure out which platforms your company needs to be on so you can connect with your target audience better. You not only need to ensure your customers know you exist but also make sure you can build a robust brand reputation and get the word out about what you’re selling. Be transparent and active on social media platforms to help build trust with your target market. You may also want to consider asking influencers to promote your products through their accounts to their networks.

 

Build up an Email List

Email remains an effective way to market your business and communicate with customers. It’s also great for distributing new and important information. It’s an easy and cost-effective way to stay in touch with all your current, past, and future clients. Avoid a one-size-fits-all approach and break up your lists into groups so that you can target the right message to the right people. Consider sending out a monthly newsletter, promotional updates, and gated content that users must subscribe to if they want to read it. Be sure to use calls-to-action so that your readers understand what you want them to do next.

 

How to Prioritize Your Children as a Businesswoman

When you’re an entrepreneur and a mum at the same time, you are constantly juggling your priorities. You of course want to be the best parent to your child that you can possibly be, but you also want to run a successful, profitable business. And at times it can seem like the two are mutually exclusive.

But in actual fact, running a company and raising a child are very similar. They both require you to commit all your time and energy, and they need constant attention and care if they are to flourish. You don’t want to have to choose between your child and your business, and hopefully you never have to. But the truth is, your child is a living, breathing, human being and they always come first. But how can you prioritize your offspring, while keeping your company going at the same time? Here are a few tips to help you lead a balanced lifestyle.

 

Stick to a schedule

The best way to maintain a strict focus on both your business and your parenting is to divide your time between them. Create a routine for your work week and stick to it. Your days can be focused on growing your company and finding new clients, but you should have a fixed time to switch off at the end of the day. Switch your phone off, and devote your evenings to your family. Spend time playing with and talking to your child, or go to the park to use the outdoor playground equipment. Splitting your priorities in this way allows you to be the best parent and businessperson you can be, without feeling as though you have to compromise on anything. 

 

Be flexible

Although you should stick to your schedule, it’s inevitable that unexpected challenges will arise. Your child might get sick at school while you’re working and you’ll have to postpone your meeting to pick them up. Or maybe your website goes down while you’re sitting down to dinner with your family and you need to get on the phone to IT support right away. You need to incorporate some flexibility into your routine in order to keep a handle on each of your priorities. This might require an honest conversation with your clients about your parenting responsibilities, or a discussion with your family about your career.

 

Hire help

Although you want to spend as much time with your child as possible, sometimes you’ll need to get external help. The commitments of taking your child to school and picking them up each day may not be compatible with your business duties, so there is no shame in looking for childcare. A good babysitter or nanny can take on a large share of your parenting tasks and make your life a whole lot easier. And the same goes for your company too. If your work is getting out of control and leaving you with no time to see your child, it might be worth spending a bit of money to outsource certain areas of the business. After all, when you look back on your life in years to come, you won’t care about the money you spent but you might regret not spending enough time with your kids.

How You Can Encourage Female Participation in Sports Clubs and Franchises

There have been many barriers facing women and girls in sport in the past. In some predominantly male-dominated sports, women’s teams and clubs are deemed not as worthy as their male counterparts.

However, this is all changing, and there has been a 54% growth of affiliated women and girls football teams in the UK alone, and with support from the FA, these figures are set to increase.

How can you provide a more inclusive experience for women in sport, whether at a mixed-gender or exclusive female club?

 

Break Down Misconceptions

There is a perceived notion of what a sports club is for those unfamiliar with how these things work. Many women who have previously been part of such clubs, whether exclusively female, co-ed or male-dominated, understand what goes on behind the scenes. But when it comes to successfully starting a female-only sports club, you need to break down the barriers of preconceived ideas and notions to allow anyone who wants to join access regardless of the sport you specialise in.

 

Consider Limitations

Women face many barriers and challenges when it comes to accessing sports. Many women find childcare a barrier to being able to be as active as they would like or as involved with a sports team or club. Knowing this and being able to address these issues can help you improve the relationship between members and allow equal access. Fundamentally, you need to know precisely what is stopping women from being part of this community and give them the support they need to enable them to grow and get involved in their sport in a beneficial way for their lifestyle.

 

Create Values

Many women feel that sports clubs are automatically focused on the male lifestyle, and accommodations for females are made as a second thought. Create a club or team values that focus on supporting the female mind and body as possible—especially when working with younger girls. A large part of why girls drop out of sports at a young age is how they look and feel when playing games. Focussing on this issue will help foster a love of sport in women of any age. Using an online womens rugby kit designer, for example, to help women feel comfortable in their kit can encourage them to be more active and confident on the pitch.

 

Flexibility

The more likely you are to be able to accommodate the needs of the individual, the more receptive girls and women will be to pursuing their goals of playing and remaining active members for as long as possible. The rigid structure of clubs and set training and attendances can be limiting and something they cannot commit to regularly. Allowing them to access club features or training on drop in sessions can work well as holding regular meetings to ascertain the best times and practises to the best service team and club members.

While a great many changes have allowed for more women to become active in their chosen sport, the fact remains, there is still much to be done, and club management can do a lot of this at a grassroots level by giving out the support required where and when needed throughout each stage of a playing career.

 

3 Important Money Tips For A Budding Entrepreneur

 

First-time entrepreneurs may find it challenging to manage the financial aspects of their new venture; twenty-nine percent of startups fail due to financial instability, according to a recent study, and starting a business can be extremely costly. However, proper financial planning and management – which are essential to achieving entrepreneurship success – are possible. To get you started, here are a few pointers. 

 

Create A Budget 

Starting a business comes with a wide range of expenses, from the cost of renting office space to the cost of employee wages. However, you may be surprised to discover additional costs once you get started. So, budgeting becomes necessary. 

Prepare for unexpected expenses, show investors how much your company expects to make and spend, and set long-term sales goals with a budget. It’s critical that your sales goals are clearly defined, measurable, achievable, and time-bound if you want them to be successful (these are what are known as SMART goals, and they are a crucial part of planning in business and in life). Once your company is up and running, make it a habit to revisit your spending plan on a regular basis.

 

Get Professional Help

If you’re just starting out as an entrepreneur, you might be inclined to try to do everything yourself, no matter whether you have the skill and experience – or whether you enjoy it – to help offset costs. Although it is important to conduct research into the workings of your business to make sure it will make sense for you, outsourcing may be the best option in some cases. Yes, you’ll spend money, and yes, you won’t have control over smaller aspects anymore (although you’ll always have control over the overall outcome – it’s your business, and this is a non-negotiable), but you’ll also have less stress, more time, and better quality outcomes. 

Think about hiring a lawyer from Carbon Law Partners who can help you structure your business and deal with any legal issues that arise. A business accountant or bookkeeper can also help you make the right financial decisions for your company. An IT consultant can deal with problems that you wouldn’t even know where to begin solving. Keep in mind that outsourcing frees up your time and energy to focus on other aspects of your business that will help your company grow.

 

Keep Your Business And Personal Finances Separate 

It’s best to keep your business and personal finances separate when you’re just getting started, whether you’re in a partnership or on your own. There is no limit to the number of bank accounts and credit cards that you can open solely for business purposes and transactions, so you don’t have to worry about this; as long as you are in control of what’s going where, you can open as many as make sense, and there is never any need to mix your personal finances with your business ones.

The long-term advantages of separating your finances are numerous. Tracking your expenses for tax purposes and keeping an eye out for a financial safety net are two reasons to keep this in mind.