Wells Fargo has been sued in U.S. District Court for the Western District of Texas by a group of current and former staffers from the company’s bilingual mortgage sales team alleging race-based discrimination. This is according to original reporting by Bloomberg and court documents reviewed by HousingWire.
“Wells Fargo forces its employees on the Bilingual team to offer predatory lending options to Spanish-speaking customers,” the initial legal complaint reads. “For example, Wells Fargo has developed an ‘Earn the Business’ program for the Bilingual team. In the fall of 2022, management created a mandatory Bilingual team program whereby employees were instructed to offer a ‘Refinance Cash Out’ product without directly mentioning the substantial financial cost of the product to borrowers.”
The company’s management team implemented this policy, the complaint alleges, because refinancing can come with high closing costs that range between $5,000 and $10,000 dollars.
“Managers of the Bilingual team directed employees to steer customers away from Home Equity Lines of Credit (HELOC), which carry no closing costs, and into refinancing without disclosing the closing costs,” the complaint alleges.
Members of the bilingual team expressed concern about the policy to management, the complaint says. Their alarm was heightened due to Wells Fargo’s lack of providing Spanish-language written materials to Spanish-speaking customers, which creates a barrier to full understanding of the documents they’re asked to sign, the plaintiffs allege.
“Customers sometimes call into the Bilingual team months after closing a refinance cash out, surprised to discover they have been charged substantial closing costs,” the complaint alleges. “Nevertheless, management instructs the Bilingual team, ‘Don’t mention cash out.’ Instead, management instructed employees to build a rapport with borrowers to gain the customers’ trust.”
The complaint goes on to allege that the company has issues with “institutional racism and discrimination” that extends beyond its customers and to its employees by disallowing members of the bilingual team to participate in a pilot program introduced in late 2021 in which mortgage consultants were “guaranteed commissions regardless of their actual sales,” the complaint says.
“Despite frequent requests, Wells Fargo refused to allow the Bilingual team (which is composed entirely of Hispanic employees who are from Mexico) to join the Pilot program,” the complaint alleges. “Only members of the English-only team were permitted to join the Pilot program. Wells Fargo’s policy constituted intentional discrimination against Hispanic employees from Mexico.”
Because of their inability to join the pilot program, the complaint alleges that members of the bilingual sales team suffered a disparate financial impact particularly after higher rates generally drove mortgage business down nationally.
The suit cites previous reporting by Bloomberg showing that Wells Fargo rejected half of its Black applicants in 2020. In response to a court order to pursue private mediation, lawyers for Wells Fargo and for borrowers told a judge in June they will work with a retired federal judge’s mediation service to try to resolve lawsuits alleging widespread discrimination against Black homeowners, Bloomberg reported.
The bank, which paid a $3.7 billion fine in December over an array of violations, including mortgage lending, did not immediately respond to a request for comment.
Inside: Working mothers face many challenges when balancing work and family life. This guide offers the best jobs for moms. Find out how to maximize your career opportunities while raising children.
Moms often feel like they can’t have a successful career and be a good moms at the same time.
I completely feel that way too. I struggled to be a stay-at-home mom when my kids were little because I wanted to help out financially to help pay down debt. It took me a few years, but I soon realized there are great ways to make a mom and be a great mom!
I have uncovered plenty of jobs for moms with no degree that offers flexible hours, good pay, and satisfying work.
The best jobs for moms with no degree are ones that offer flexibility, good pay, and room for growth.
It can be tough to balance family and career, but it is possible to find a job that fits your lifestyle.
Here are the best jobs for moms with no degree or with a degree.
What jobs are good as a mom?
As a mom, finding a job that allows for flexibility and growth can be challenging, especially if you don’t have a college degree.
However, there are still plenty of opportunities out there that can help you balance your family and career.
Most importantly, you need to find a job that you LOVE! An environment that you thrive in!
With flexible schedules, remote work options, and potential for growth, these jobs can provide the stability and income moms need while still being able to prioritize their families.
Whether you’re looking for a part-time job or a full-time career, there are plenty of opportunities out there for moms.
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Are you passionate about words and reading?
If so, proofreading could be a perfect fit for you, just like it’s been for countless of readers! Learn how you can create a freelance business as a proofreader.
Check out this free workshop!
Bookkeeping is the most stable, reliable & simple business to own. This is how to make a realistic income -either part-time or full-time.
Find out TODAY if this is THE business you’ve been looking for.
What are the best careers for current stay-at-home moms?
Stay-at-home moms face the challenge of balancing their family responsibilities with the desire to pursue a career.
With the high cost of child care, you need to find a job that allows you to take your kids or one that offers flexibility to work around your kid’s schedules.
Hello- that is me! I am a blogger and day trader when I’m not taxing my kids around.
Your best bet is to check out how to make money online for beginners. That is where you will find the most job options that can be done from home or offer flexible schedules, making it possible to have the best of both worlds.
What are the best careers for former stay-at-home moms?
Returning to the workforce after being a stay-at-home mom can be a daunting task, but there are many careers that are best suited for moms.
You still want careers that offer flexibility, high earning potential, and a good work-life balance.
You need to consider your previous employment, any education or certificates you hold, or skills and/or interests.
As such, the answer will vary for each person reading this post. So, consider any one of these past ideas.
Best Jobs for Moms
There are plenty of great jobs for working moms.
The key is to find a position that offers the right mix of income, hours, and flexibility.
Preferably, you want a low-stress job that pays well without a degree.
Here are jobs to consider if you’re a working mom with no degree.
1. Web developer
Web development is a highly flexible and lucrative career option that is ideal for working moms who may not have a college degree. With the ability to work remotely or part-time, web development is a perfect fit for moms who need a flexible schedule.
This field is rapidly growing and in high demand, making it an excellent choice for those looking for a career change.
To become a successful web developer, proficiency in programming languages like HTML, CSS, and JavaScript is essential. Additionally, knowledge of website design and development tools is crucial to create visually appealing and functional websites.
The skills required for web development can be learned through online courses or boot camps, making it accessible to anyone with an interest in technology and design.
Benefits:
Many web developers work from home or have flexible schedules, making it easier for moms to balance work and family life.
The demand for web developers is expected to grow, making it a stable and secure career option.
Web development is a field that allows for creativity and self-expression.
Pay: The salary for a web developer varies greatly on experience, but it is possible to make six figures.
2. Customer Service Representative
Customer service representative is an excellent career option for working moms who do not hold a college degree.
As a customer service representative, you will be the primary point of contact between customers and the organization, providing information about products and services, taking orders, responding to customer complaints, and processing returns.
You can work from home part-time or full-time, and many times the work takes place remotely. To succeed in this role, you will need to have strong communication and negotiation skills, patience, and the ability to multitask.
Benefits:
The work environment is flexible, and you can work from the comfort of your home.
Job offers great work-life balance and schedule options, making it an ideal choice for working moms.
Pay: As a customer service representative, you can expect to make from minimum wage to $20 an hour.
3. Proofreader
Being a proofreader can be a rewarding and fulfilling career for individuals who have a way with words and a keen eye for grammar. As a proofreader, your primary responsibility would be to review and correct spelling, grammar, and punctuation errors in various types of written content, such as books, websites, and social media posts.
Moreover, the earning potential as a proofreader can be quite lucrative. For instance, Caitlin Pyle, a successful proofreader, made $43,000 in one year working part-time.
To get started as a proofreader, it is important to develop the necessary skills. You can start by attending a free introductory workshop or enrolling in a course that teaches the skills needed to become a freelance proofreader.
Benefits:
Great flexibility as you work on a project basis.
The significant earning potential in the field of proofreading, especially for those who are dedicated and skilled in their craft.
Rewarding career path for individuals with a passion for language and a meticulous eye for detail.
Pay: In terms of salary, the median pay for a proofreader ranges from $15.22 to $26 an hour, depending on experience and the project you are working on. Many other proofreaders earn between $1,000 to $4,000 per month.
4. Flight Attendant
A flight attendant is a career that does not require a college degree but extensive training and certification. It is an ideal job for working moms due to its non-traditional scheduling that allows them to work part-time, take extended periods off, and get out of the house.
Flight attendants can take on trips when they know they have child care covered, and stay at home for days at a time.
Benefits:
Enjoy the perks of travel.
Flexible schedules.
Great health benefits.
Pay: The pay ranges by airline, but the median salary is $65000 per year.
5. Blogger
For moms who are looking for a flexible work-from-home job that doesn’t require a degree, becoming a blogger could be the perfect fit.
With the rise of the internet, there is an increasing demand for content writers and bloggers. These jobs allow you to work from home, set your own schedule, and choose the topics you want to write about. Additionally, these jobs don’t require a degree, making them accessible to anyone who has a passion for writing and a way with words.
Blogging is another option for those who want to write about specific topics they are passionate about and share their insights with others.
Benefits:
Be your own boss.
Flexibility blogging offers – work as much or as little as you want.
Work from home.
Choose the topics you want to write about.
Pay: As a blogger, you are creating passive income through ads, affiliating marketing, and paid sponsorships.
6. Engineer
Returning to work as a mom can be a challenging transition, but leveraging your engineering degree can open up a range of opportunities for you. With your technical skills and problem-solving abilities, there are several career paths that can offer a healthy work-life balance and flexibility to accommodate your family responsibilities.
Here are ways to utilize your degree and still have the flexibility you crave:
Pursue freelance work in your field. As a freelance engineer, you have the freedom to determine your own schedule and take on projects that align with your interests and availability. Platforms like Upwork provide a space for engineers to connect with clients and offer their services on a project basis. This allows you to work on engineering projects from the comfort of your own home, giving you the flexibility to balance work and family life.
Explore part-time or remote positions with engineering firms or companies that value work-life balance. Many engineering firms recognize the importance of accommodating working parents and offer flexible work arrangements. With your engineering background, you can contribute to projects and collaborate with teams remotely, allowing you to work from home and adjust your schedule to meet the needs of your family.
Pursue a career in technical writing or content creation. Many companies and organizations require technical documentation, manuals, and instructional materials to accompany their products or services. With your engineering background, you can leverage your expertise to create clear and concise technical content.
Work as an engineering consultant. As a consultant, you can offer your specialized knowledge and expertise to clients on a project basis. Consulting also provides the opportunity to work remotely or have a flexible work arrangement, making it an ideal option for moms returning to work.
By expanding your knowledge and skill set, you can position yourself for more opportunities and increase your marketability in the engineering field.
Benefits:
This can be done on a freelance basis or as a remote employee, allowing you to work from home and have more control over your schedule.
Take on projects that align with your skills and interests.
Have a fulfilling career that allows you to balance work and motherhood successfully.
Pay: Additionally, engineering offers high earning potential, which can help support a family and provide financial stability. Most engineers earn over $100000 a year.
7. Virtual Assistant
For working moms with no degree, finding a job that balances well with their family life can be a challenge. However, virtual assistant jobs can be the perfect solution.
As a virtual assistant with no experience, you can work from home, set your own schedule, and earn a good income.
A virtual assistant provides administrative support remotely, handling tasks such as email and social media management, scheduling appointments, data collection, customer service, and event planning. The skills required for this job include strong multi-tasking, organizational, and time-management skills, as well as basic computer skills.
Here is a virtual assistant checklist to see if you would enjoy this job possibility.
Benefits:
Be the boss of your own schedule.
Build your own small business if you desire.
Earn significant income
Pay: Most virtual assistants can earn $21 an hour or more pending experience.
8. Teacher
Teaching can be an excellent option for moms who want to work in a field that values education and have the same schedule as their kids.
Plus you can take on one of these summer jobs for teachers to extra cash.
Another option is to become a teacher’s aide that assists teachers in the classroom, helping with tasks such as grading papers, supervising students, and preparing materials. To become a teacher’s aide, you need to have a high school diploma or GED.
Benefits:
Same work hours as your children.
Work in a field that values empathy and care for children, while also providing financial stability and work-life balance.
Most teacher retirement plans are well worth working your full 30 years for that ongoing income post-retirement.
Pay: Unfortunately, teachers are one of the lowest paid salaries for the fantastic work they do. Find out if teachers get paid in the summer.
9. Substitute teacher
Substitute teaching can be an excellent job option for working moms who don’t have a degree. It offers flexibility, a chance to get teaching experience, and a decent daily rate of pay.
A substitute teacher fills in for full-time teachers when they are absent.
This experience can be helpful if you decide to pursue a permanent teaching position in the future.
Benefits:
Allows you to work when your schedule permits. You can note your availability and work as much or as little as you like.
Gain teaching experience without committing to a full school year.
Rewarding job option for some.
Pay: As of right now, there is a shortage of teachers, so the pay for substitute teachers has increased immensely. Substitute teachers can earn a daily rate ranging from $60 to $200, depending on the school district and the region with most substitutes making $22 an hour or more.
10. Consultant
As a consultant, you can use your prior work or life experience to offer solutions and advice to clients in a wide range of areas, including sales, marketing, operations, and management.
Furthermore, consulting can be an ideal way to transition your prior work or life experience into a new career and shorten the time spent in school, making it a great option.
To become a successful consultant, you need to have strong communication skills, the ability to work independently, and experience in your field to run a successful business.
Benefits:
As a consultant, you can enjoy flexible work hours.
The potential to work from home.
Ability to control your schedule.
Pay: The hourly rate for consultants varies depending on the type of consultant and the industry, with some earning high salaries.
11. Day Trader
Swing or day trading is a popular option for individuals who want to work from home and make a living from the stock market. Day traders buy and sell securities within the same day, aiming to make a profit from small price movements.
This job requires a certain set of skills and investing knowledge, as well as specific equipment and software.
It is possible to make money with stocks fast.
Day trading can be a good option for working moms with no degree because it offers flexibility and the potential for high earnings. Personally, I love trading stocks and options. I learned from Teri Ijeoma.
Benefits:
Unlike traditional jobs, day trading allows individuals to work from home and set their own schedules.
Successful traders can make a significant amount of money, with some earning six-figure or seven-figure incomes.
While a degree is not required for day trading, I highly recommend taking this investing course to jumpstart your learning.
Pay: Widely variable as it depends on your risk. You can lose money or make $1000 a day.
12. Claims adjuster
As a claims adjuster, you will be responsible for investigating insurance claims, negotiating settlements, and collaborating with other professionals such as lawyers and medical experts. To become a claims adjuster, you will need to possess relevant experience, strong communication abilities, and proficiency in data analysis.
The work environment can be fast-paced and stressful, but the potential for career growth and the flexibility to work remotely make this an attractive option for many working moms.
Claims adjusters must also maintain accurate records and documentation of all claims activities.
Benefits:
While the work environment can be fast-paced and stressful, the potential for career growth is likely.
Flexibility to work remotely make this an attractive option for many working moms.
Pay: Claims adjusters can advance to higher positions within the insurance industry, such as senior claims adjuster or claims manager. Additionally, many claims adjusters work as independent contractors or consultants, providing even more flexibility and potential for career growth.
13. Bookkeeper
As a bookkeeper, one is responsible for monitoring a company’s cash flow by keeping track of transactions and preserving copies of receipts. The job requires great attention to detail, excellent organizational skills, and an ability to analyze and interpret financial data.
This job can be done virtually, making it an excellent position for moms who want to improve their work-life balance.
Bookkeeping does not require a degree and one can earn a decent hourly pay or salary. To become a bookkeeper, one must have bookkeeping skills, which can be learned from online courses.
Benefits:
Flexible working hours, allowing them to work whenever suits them.
Great for someone who loves analytics.
Pay: Most bookkeepers enjoy relatively high hourly salaries. They can work as independent contractors or be paid as a salaried employee.
14. Nanny
Being a nanny is an excellent option for moms who want to balance work and family life.
As a nanny, you would be responsible for taking care of children, cooking, cleaning, and running errands. The best part about being a nanny is the flexible hours, which allow you to work part-time or full-time while still being present for your family.
Finding a job that allows moms to work while still being present for their families is crucial, and being a nanny provides the perfect solution.
Benefits:
Be able to care for your own children at the same time.
Find a nanny job that works for your circumstances.
Stay young and playful while working with kids!
Pay: The pay varies widely for a nanny, but once you have experience and great references, you can earn good money.
15. Marketing Specialist
Marketing can be an excellent job choice for moms looking for flexibility, potential job growth, and the opportunity to work remotely. With the advancement of digital marketing, moms can now pursue a career in marketing without having to leave their homes or work in a traditional office setting.
As a digital marketer, there are various specializations and skills that can be honed to advance in the field. These include SEO (search engine optimization), web development, content creation, and marketing strategies.
By continuously learning and improving these skills, moms can enhance their professional reputation and open doors to new opportunities within the marketing industry.
Benefits:
Ability to work from home.
Work flexible work hours that can be adjusted to fit their family’s needs.
Digital marketing also offers potential job growth and career development.
Pay: As a marketing specialist, the pay can vary greatly if you work as a freelancer or a bigger corporation.
16. Financial Advisor
Financial advising can be an excellent career path for working moms without a degree, offering flexibility and opportunities for growth.
Honestly, I know many people who have successfully entered the workforce as financial advisors.
The first step towards becoming a financial advisor is to obtain relevant certifications and licenses, such as the Certified Financial Planner (CFP) designation. Once certified, financial advisors can work for a firm or start their own business, providing financial advice to clients.
Pursuing a career as a financial advisor can offer a good salary and work-life balance, making it a great option for working moms.
Benefits:
Help others pursue a life of financial independence.
Perfect for someone who loves numbers!
Pay: The pay for a financial advisor varies greatly, but the median salary is $75000 a year.
17. Writer
Becoming a writer can be a great career choice for moms who want to work from home and have a passion for writing. With flexibility, the potential for a decent income, and no degree required, it’s an accessible and rewarding career path.
Highly recommended to take this writing course to jumpstart your networking opportunities.
As a writer, you can work as a content writer, staff writer, or freelance writer.
Content writers produce content for websites, such as blogs, news aggregators, and e-commerce sites.
Staff writers write articles for publications, such as magazines or newspapers.
Freelance writers write for clients without being permanent employees.
What’s more important is having a way with words, strong research skills, and a passion for writing.
Benefits:
Flexibility to work on a story when you are able to.
For those with a love of English, this is a great way to express yourself.
Pay: While the average hourly rate for writers and bloggers varies, it’s possible to earn a decent income in these fields.
17. Social Media Specialist
As a social media specialist, you will manage social media accounts, create and post content, increase engagement, analyze data, and monitor social media. This role requires skills such as graphic design, writing appealing content, an eye for design, and flexibility.
Moms possess many of these skills naturally, such as multitasking, creativity, and communication. These skills can be applied to social media management, including content creation, scheduling, and community management.
Social media management is also a growing field. As a result, this job can provide moms with a stable income and career growth opportunities while allowing them to prioritize their family life.
Benefits:
Great for those who personally love social media.
Easy to work anywhere.
Pay: With an average salary of $52000 a year, this job can be done from home, making it a perfect fit for moms.
18. Human resources manager
Work-life balance is crucial for working moms, and a career as a human resources manager can provide just that.
Human resources managers are responsible for managing employee benefits, overseeing hiring processes, and handling employee relations. This job offers flexibility, including the ability to work remotely or part-time.
A career in human resources management can positively impact a working mom’s family life by providing a consistent schedule that doesn’t involve weekends or holidays.
Benefits:
HR managers are in high demand in many industries, as every organization requires HR expertise to manage its workforce effectively.
Opportunities for personal and professional growth.
Make a positive impact on employees’ lives.
Ample networking opportunities with employees, upper management, and external stakeholders.
Pay: Human resource managers often receive competitive salaries, with average annual earnings exceeding $120,000.
19. Sell on Printables on Etsy
In recent years, the demand for printable products has grown tremendously, making Etsy a great platform for working moms without a degree to earn a steady income from home.
Printables are digital files that customers can download and print at home, such as wall art, planners, calendars, and invitations.
The best part is that once you create a printable, you can sell it repeatedly without having to invest more time or money.
Check out the list of the most popular printables you can create.
Benefits:
A flexible job that allows you to work from home and set your own hours.
Earn a steady income from a single printable, which means you can focus on creating new products and growing your business.
Able to start s small business.
Pay: This is a passive income. Learn how much these sellers have made.
20. Retail associate
Many moms become retail associates to get a discount from the retailer!
Working in retail can be a rewarding and dynamic career choice. Retail jobs are generally physically demanding, as employees are often on their feet for long periods and may need to lift and move heavy items.
The nature of retail work can also be stressful, especially during busy periods such as holidays or sales events. However, it can also be an opportunity to develop and utilize various skills, particularly when interacting with customers.
Benefits:
Working part-time hours while your children are at school.
Discounts to the retailer you work.
Flexible scheduling hours.
Pay: This is a minimum wage job earning $13 an hour to $18 an hour.
21. Nursing
Nursing is a fulfilling career for moms who enjoy taking care of others.
While most nursing positions require a degree, there are also entry-level jobs available for those without a degree. Certified nursing assistant (CNA) and licensed practical nurse (LPN) are two such positions.
Both positions require certification and training, which can be completed in a matter of months. Pursuing a career in nursing as a working mom without a degree offers the flexibility to balance work and family while also providing the opportunity for career advancement.
Benefits:
Flexible scheduling around what works best for your family.
Ability to work part-time or full-time.
Great career option to take fewer hours while your children are little and more hours when they are in school.
Pay: The average hourly rate for nursing varies depending on where you work. Most certified nurses make between $32 an hour to $50 an hour.
22. Transcriber
As a transcriber, you will listen to audio files and create a document that contains an accurate record of what was said. This is one of the best jobs for moms with no degree, as most transcription companies just require you to pass their test before they give you work.
To become a successful transcriber, you will need fast typing skills, attention to detail, and the ability to sit for long periods of time. You may also need to purchase special transcribing equipment, depending on the company you work for. Most transcription jobs will require the ability to type 75 WPM or more.
This is a great non phone work from home job.
With the right skills and tools, you can become a successful transcriber and earn a decent income. So if you are a fast typer with an eye for detail, consider taking a free mini-course to find out if this is the right job for you.
Benefits:
Transcription jobs from home are available remotely and work as many hours as you want.
Set your own schedule.
Make money by meeting deadlines.
Pay: Generally, transcriptionists earn around $19 per hour in the US, but this can be more depending on your employer.
23. Graphic Designer
Graphic design is an excellent job for working moms with no degree, as it allows for significant flexibility in working hours and can be done from home.
As a graphic designer, you will be responsible for creating logos, designing websites, and developing marketing materials such as brochures and flyers. To succeed in this field, you’ll need to be creative, detail-oriented, and able to work with clients to meet their specific needs.
Benefits:
Balance their family responsibilities with a fulfilling and rewarding career.
Perfect to showcase your creative side.
Pay: With a median annual wage of $48000 per year, graphic design is a lucrative career that offers plenty of room for growth and advancement.
24. Online Coach
Being an online coach is a great job for individuals who are looking to earn money online without a degree. While some online coaches do gain certifications, it is not always necessary.
There are several types of coaching fields to enter, including career coaching, life coaching, health coaching, family coaching, and fitness coaching. It is advisable to choose a field that you have experience in or feel comfortable handling.
As a life coach, for example, you can assist clients in achieving their goals, dealing with self-esteem issues, or working on relationships.
Benefits:
Freedom to set your own schedule and work from home, which allows you to balance work and family responsibilities.
Potential to earn a good income, especially if you specialize in a high-demand niche and build a strong client base.
Viable career option for working moms without a degree.
Work remotely from their computers and communicate with clients online.
Pay: Most coaches make between $30 an hour – 100 an hour pending experience.
25. Counselor
Counseling is indeed a vital service that plays a crucial role in helping individuals and families overcome difficult challenges.
As a counselor, you work closely with clients to address various issues and support them in achieving their personal and professional goals.
Counselors can work in diverse settings, including private practices, mental health centers, schools, substance abuse centers, or government institutions. This allows for a wide range of opportunities and flexibility in terms of work environment and schedule. Additionally, advancements in technology have made it possible for counselors to provide their services online, further expanding the accessibility and convenience of counseling.
Benefits:
Flexibility to work part-time or full-time.
Making a positive impact on the lives of others and contributing to their well-being is a significant aspect of counseling that attracts many individuals, including moms, to pursue this profession.
Offers a fulfilling and financially rewarding career path.
Pay: The average hourly rate for counselors is $39 an hour.
Other Jobs Options to Consider:
Home Health Aide: Care for patients in their own homes. Many opportunities for part-time work.
Personal Care Aide: Assist clients with daily tasks such as bathing, dressing, and grooming. Flexible schedules are available.
Event Planner: Plan and organize events such as weddings, conferences, and parties. Can often work on a freelance or contract basis.
Photographer: Take photographs for a variety of purposes such as weddings, events, or marketing materials. Can often work on a freelance basis.
Personal Trainer: Help clients achieve fitness goals through exercise and nutrition coaching. Can often work on a freelance or contract basis.
House Cleaner: Clean homes or businesses on a regular basis. Offers flexibility in terms of schedule and workload.
Online Tutor: This job involves teaching students online in various subjects. Skills required include teaching ability, subject expertise, and communication. To balance work and family life, set a schedule and prioritize family time.
Translator: This job involves translating written or spoken content from one language to another. Skills required include fluency in multiple languages, attention to detail, and communication. To balance work and family life, set a schedule and prioritize family time.
Pet Sitter/Dog Walker: This job involves caring for pets while their owners are away. Skills required include love for animals, responsibility, and time management. To balance work and family life, set a schedule and communicate with clients to ensure availability.
Personal Shopper: This job involves shopping for clients and delivering their purchases. Skills required include organization, communication, and time management. To balance work and family life, set a schedule and communicate with clients to ensure availability.
What to consider when choosing a job for working moms without a degree?
Working mothers without a degree face many challenges when it comes to finding a job.
They need to find a balance between their family and career commitments, and they also need to find a job that is flexible enough to accommodate their schedule. Here are the things to consider when looking for a new job.
1. Hours and Shiftwork
For working moms being able to control their own schedules allows them to be present for their children’s needs while also earning an income is extremely important. It is important to consider the hours you have available to dedicate to a job along with the shiftwork necessary when choosing a job.
Think about whether you want to go part-time or full-time.
Also, weekend shifts are also an option for those who need to work around their family’s schedule. Even better, remote work has become increasingly popular and offers even more flexibility.
2. Salary
Salary considerations play a significant role in achieving this stability a mom desires.
It is essential to explore different salary options and negotiate to ensure that you are being fairly compensated for your skills and experience.
Consider starting salary, the potential for growth, benefits packages, and negotiation when exploring job options.
3. Responsibility and Stress
As any working mom can tell you, being a working mom can be an incredibly stressful experience. Mothers often have to balance their work responsibilities with household chores and childcare, which can be overwhelming.
Finding a job that balances responsibility and stress is crucial for working moms to maintain their mental and physical health, and to be able to provide for their families.
4. Level of Education Required
As a working mom, it is important to consider the level of education required when choosing a job.
Plus, it is crucial to research job requirements and considers personal interests and skills when selecting a job. By doing so, working moms can find a job that offers flexibility, decent pay, and job satisfaction.
5. Professional Licenses and Certifications
Obtaining, professional licenses and certifications is an excellent way for working moms without a degree to increase their job opportunities, earn higher salaries, and improve job security.
These certifications and licenses are often required for specific industries, such as healthcare, education, and law enforcement.
With so many options available, it’s important for working moms to explore the various certifications and licenses that are relevant to their industry and career goals.
6. Work-Life Balance
Balancing work and family life is a challenge for anyone, but it can be particularly daunting for working moms.
However, there are several factors to consider when choosing a job that can help achieve a work-life balance:
Flexible Work Hours: A job with flexible work hours can help working moms without a degree balance their work and family responsibilities. This can include part-time work, remote work, or jobs that allow for flexible scheduling.
Remote Work Options: Remote work can be an excellent option for working moms without a degree who need to work from home.
Company Culture: A supportive company culture can make all the difference for working moms. Look for companies that offer family-friendly policies such as paid time off, flexible work schedules, and on-site childcare.
By prioritizing work-life balance, working moms can achieve success in both their personal and professional lives.
7. Vacation and Time Off
For working moms without a degree, vacation and time off are crucial benefits to consider when evaluating a potential job offer.
Here are three factors to consider when reviewing a company’s vacation and time off policy:
The number of vacation days offered, including paid time off for sick days and personal days.
The flexibility of the policy, such as the ability to take time off for family emergencies or unexpected events.
The potential for extended leave, such as maternity or paternity leave.
8. Career Advancement
When considering a job as a mom, career advancement is an important consideration. It is essential to choose an employer and a job that offers opportunities for growth and progression in your chosen field.
Advancing in your career not only allows you to achieve personal and professional goals but also provides financial stability and job satisfaction.
Don’t underestimate the power of setting clear career goals and actively working towards them.
By investing in your skills, building a strong network, and setting clear career goals, you can pave the way for a successful and fulfilling career as a mom.
9. Job Security
Job security is especially significant for working moms, who may face more challenges in finding and keeping a job.
Typically, working moms are limited in their job options.
So, look for careers that provide financial security as well as companies with a solid track history.
This is the perfect side hustle if you don’t have much time, experience, or money.
Many earn over $10,000 in a year selling printables on Etsy. Learn how to get started by watching this free workshop.
If you’ve ever wanted to make a full-time income while working from home, you’re in the right place!
This intensive training combines thousands of hours of research, years of experience in growing a virtual assistant business, and the power of a coach who has helped thousands of students launch and grow their own business from scratch.
FAQ
You can search for remote jobs, part-time jobs, or freelance gigs.
You can also look for companies that have flexible policies in place. Also, reach out to your network and ask if anyone knows of any openings that are flexible.
Stay-at-home moms can find a variety of jobs that can be done from home and offer flexibility to work around their schedule. Here are some of the options available:
Working from home offers the benefit of having a better work-life balance and the ability to be present for their families while still earning an income.
Which Job for Moms will You Choose?
For moms who want to balance family and career, finding a job that offers work-life balance and career growth is crucial.
Not only can working increase income, but it can also lead to career advancement and personal fulfillment.
Above, we listed many great jobs for moms. You can choose a job that allows you to work from home, or one that provides flexible hours. Also, many moms like me prefer one of these early morning jobs.
Whatever you choose, make sure you find a job that you enjoy and that allows you to spend time with your family.
Know someone else that needs this, too? Then, please share!!
It was a report two years in the making — one that details how California, a state that never officially sanctioned slavery, can confront decades of policies that have kept Black residents from living in the neighborhoods they choose, being treated fairly at doctor’s visits and building generational wealth.California’s reparations task force completed its work Thursday and turned more than 100 recommendations over to the Legislature, the first work of its kind in the U.S. The nearly 1,100-page document recommends the state formally apologize and suggests how to calculate monetary reparations.Read an executive summary of the California Reparations Task Force’s report here.Read the full California Reparations Task Force report here.Here’s what the task force examined:HOUSING DISCRIMINATIONThe report recounts California policies that have kept Black families from retaining property and living in certain neighborhoods. The effects of redlining, which led to Black families being denied home loans; and eminent domain, where residents’ property was seized by the government, still linger, the report states.The panel recommended returning property unjustly seized from Black residents. It also urged lawmakers to offer property tax relief to African American homeowners living in historically redlined neighborhoods.OVERPOLICING AND MASS INCARCERATIONThe task force condemned policies and practices that have led to Black Californians being disproportionally stopped by police, killed by law enforcement or imprisoned.Recommendations include ending the death penalty, banning cash bail, requiring anti-bias training for police officers and funding education for more African American prospective lawyers. The panel also called on lawmakers to bar searches by law enforcement based on a person’s consent alone.HEALTH HARMSThe committee urged lawmakers to address disparities in maternal mortality and treatment for substance abuse. Members also called for lawmakers to set aside money to research rising suicide rates among African American youth.Another suggestion is to fund wellness centers in historically Black neighborhoods to address mental health issues and refer patients for psychiatric or medical care.PAYMENTSThe recommendations include paying Black Californians who lived in the state while certain discriminatory policies were in effect. The task force voted to limit eligibility to people descended from free or enslaved Black people living in the United States by the end of the 19th century. The panel stopped short of endorsing a fixed dollar amount for individuals. But the members recommended calculations from economists projecting the state is responsible for more than $500 billion for overpolicing, mass incarceration and housing discrimination.AGENCYThe task force recommended creating an agency to implement and oversee reparations programs and help people research their family history to find out if they may be eligible for compensation.NEXT STEPSAny policy changes must come through legislation signed by the governor. State Sen. Steven Bradford and Assemblymember Reggie Jones-Sawyer, both Los Angeles-area Democrats on the task force, have both said they plan to introduce legislation. Bradford has previously cautioned that it would be difficult to get large cash payments approved.
It was a report two years in the making — one that details how California, a state that never officially sanctioned slavery, can confront decades of policies that have kept Black residents from living in the neighborhoods they choose, being treated fairly at doctor’s visits and building generational wealth.
California’s reparations task force completed its work Thursday and turned more than 100 recommendations over to the Legislature, the first work of its kind in the U.S. The nearly 1,100-page document recommends the state formally apologize and suggests how to calculate monetary reparations.
Advertisement
Here’s what the task force examined:
HOUSING DISCRIMINATION
The report recounts California policies that have kept Black families from retaining property and living in certain neighborhoods. The effects of redlining, which led to Black families being denied home loans; and eminent domain, where residents’ property was seized by the government, still linger, the report states.
The panel recommended returning property unjustly seized from Black residents. It also urged lawmakers to offer property tax relief to African American homeowners living in historically redlined neighborhoods.
OVERPOLICING AND MASS INCARCERATION
The task force condemned policies and practices that have led to Black Californians being disproportionally stopped by police, killed by law enforcement or imprisoned.
Recommendations include ending the death penalty, banning cash bail, requiring anti-bias training for police officers and funding education for more African American prospective lawyers. The panel also called on lawmakers to bar searches by law enforcement based on a person’s consent alone.
HEALTH HARMS
The committee urged lawmakers to address disparities in maternal mortality and treatment for substance abuse. Members also called for lawmakers to set aside money to research rising suicide rates among African American youth.
Another suggestion is to fund wellness centers in historically Black neighborhoods to address mental health issues and refer patients for psychiatric or medical care.
PAYMENTS
The recommendations include paying Black Californians who lived in the state while certain discriminatory policies were in effect. The task force voted to limit eligibility to people descended from free or enslaved Black people living in the United States by the end of the 19th century. The panel stopped short of endorsing a fixed dollar amount for individuals. But the members recommended calculations from economists projecting the state is responsible for more than $500 billion for overpolicing, mass incarceration and housing discrimination.
AGENCY
The task force recommended creating an agency to implement and oversee reparations programs and help people research their family history to find out if they may be eligible for compensation.
NEXT STEPS
Any policy changes must come through legislation signed by the governor. State Sen. Steven Bradford and Assemblymember Reggie Jones-Sawyer, both Los Angeles-area Democrats on the task force, have both said they plan to introduce legislation. Bradford has previously cautioned that it would be difficult to get large cash payments approved.
Robert Lawrence woke up on May 8 and found an eviction notice plastered on the door of the rent-stabilized apartment he has lived in since 2021.
“120 DAY NOTICE OF TERMINATION OF TENANCY,” it said.
Owners of the Barrington Plaza said it would evict all residents in the 712-unit complex in West Los Angeles so that it could add fire sprinklers and safety upgrades following two significant fires in 10 years.
Lawrence and many of his neighbors in the complex jumped into organizing to stop what would be one of the largest evictions in the city in years.
On Monday, the Barrington Plaza Tenants Assn. sued the complex’s owner, Douglas Emmett Inc., accusing the company of misusing a California law that allows landlords to evict tenants if they exit the rental market. Lawyers and advocates involved in the case warn that if the owners follow through with the eviction of over 500 tenants, landlords of other affordable apartments may do the same — and have in the past.
Advertisement
“It’s a devastating joke for a lot of people who have managed to strike gold with being able to get an affordable home in Los Angeles,” said Nima Farahani, a lawyer representing the Barrington Plaza Tenants Assn.
The Ellis Act was created in 1985 to enable landlords to exit the rental business, often to convert apartments into condominiums. Landlords in Los Angeles have evicted tenants using the Ellis Act from over 28,000 units since 2001, according to data gathered from the city Housing Department by the Coalition for Economic Survival, a grassroots policy organization involved in the lawsuit.
Advocates have routinely accused landlords of abusing the act to transform older buildings — including rent-controlled units — into luxury apartments.
“They don’t need to make this many people homeless for an updating project,” Farahani said, noting the building has over 150 vacant units.
Eric Rose, a public relations representative for Douglas Emmett, said Barrington Plaza’s owner is unsure how it will use the apartments after renovations.
“To the extent that the units were brought back onto the rental market, the owner would follow all obligations relative to former tenants as provided in those state and local rules,” Rose said in an email to the L.A. Times.
Landlords must compensate tenants if they rent out an apartment after two years of evicting residents with the Ellis Act, but their liability decreases with time.
Lawrence works in entertainment and described his fellow residents — including hairdressers, dog walkers, waiters and an Uber driver — as people who “work in service industries for our more affluent neighbors.”
Advertisement
Advocates like Larry Gross, executive director of the Coalition for Economic Survival, say that Douglas Emmett will likely reopen the units after renovation and jack up rents. Gross said this will open the “floodgates” for other landlords to follow suit.
“If we do not prevail, this literally puts a bull’s-eye on the back of every rent-controlled tenant in the city and state, who now will be vulnerable to landlords like this filing bogus Ellis evictions to get them out to raise rent,” Gross said.
Gross notes that Douglas Emmett donated $50,000 to fight Measure ULA, the so-called mansion tax, which voters ultimately passed and generates funding for affordable housing and homeless prevention.
In the coming weeks, Farahani said that lawyers plan to ask the court to stop all evictions until the lawsuit is resolved.
On the day of the eviction announcement, tenants found what Lawrence called the “iconic” Barrington Plaza sign painted over in black.
It’s never fun to consider declaring bankruptcy. But, believe it or not, bankruptcy can be a smart financial decision in certain situations. Bankruptcy’s designed to give people a fresh start when they need one. And if you file for bankruptcy, you’re taking a big step towards getting your finances under control. That’s always a responsible goal.
But it’s a serious decision with consequences. Your credit rating takes a big drop (as you may know already) and your spending habits may need to change. How do you know when the pros of bankruptcy outweigh the cons?
First, know the basics of what bankruptcy does. Bankruptcy usually does not eliminate all your debt. The courts treat different kinds of debts differently.
Here are the debts bankruptcy will NOT erase:
Student loans, whether public or private. You can get relief from student loan payments, but that’s a separate process
Income taxes you owe. There are payment options for back taxes. Just like student loans, though, income tax payments have a process all their own
Child support and alimony
Court fines or other legal penalties (such as traffic tickets)
Debts to government agencies
Debts for personal injury or death caused by drunk driving
Any debts you forget to list in bankruptcy papers
Here are the debts bankruptcy CAN erase or make easier to pay over time:
But debt itself doesn’t automatically make bankruptcy the best option. If any or all of the following circumstances apply to you, it might be time to file:
Creditors are suing you for unpaid debts
If creditors have already passed your debt to a collection agency, they may take the next step—a lawsuit. Debt collection lawsuits usually aren’t worth fighting in court. You’ll end up with court costs to worry about.
Bankruptcy will place an automatic “stay” on your account. This is a court order requiring creditors to cease all collection activity, including lawsuits.
Credit card debt is “unsecured” debt. This means creditors can’t repossess any items if you don’t pay it. Bankruptcy usually erases credit card and other unsecured debts.
If your utilities are about to be disconnected, bankruptcy can keep them from being cut off as well.
What’s Ahead:
You’re facing home foreclosure and/or car repossession
Bankruptcy can issue a stay on any repossession or foreclosure activity, just like it can for credit card collections. But this stay’s a little more complicated.
Money you owe on homes and cars may be a “secured” debt, or a debt where a creditor can repossess the property. This is the case if a creditor has a lien on your home or car. A lien is basically a claim on your property saying the creditor can take it back if you don’t make payments. You may have to read the fine print or consult a professional if you’re not sure whether creditors have a lien on your home. Bankruptcy can erase what you owe—but it can’t keep creditors with liens from repossessing property.
Don’t panic! In many cases you can keep your home even after you file. One type of personal bankruptcy, Chapter 13 bankruptcy, gives you time to catch up on mortgage payments. The property you get to keep also depends on your state’s bankruptcy “exemption” laws—each state has different rules about which properties are exempt from creditor claims.
Your wages are being garnished
Wage garnishment, or creditors taking a certain percentage of your paycheck, may be the result of a lawsuit or court order. Bankruptcy’s automatic stay will stop the garnishment.
You pay for everything on credit cards
If you’re paying off debt by digging yourself deeper into debt, bankruptcy can help you break the cycle. Chapter 7 bankruptcy, the most common type of individual bankruptcy, usually erases credit card debt.
You’re dipping into a retirement account to pay bills
Thought it may be tempting, think twice before you turn to retirement funds. Most states protect your pensions, life insurance, and retirement accounts like IRAs and 401(k)s in bankruptcy. You can file, get the rest of your bills under control, and keep the retirement funds. Check the specific legislation in your state to find out what’s protected.
Paying off your debts will take five years or more
To get a full financial picture, calculate how much you owe, to whom, and when you think you can repay—or how long you can manage modest regular payments without going underwater. Focus on the debts bankruptcy can possibly discharge, like credit card debt.
If you don’t see yourself making a dent within five years, much less paying everything back, bankruptcy may give you much-needed relief.
Your revolving debt exceeds your annual income
Revolving debt is any debt with an open-ended term or no end date. Credit cards, personal lines of credit, and home equity lines of credit are all sources of revolving debt. The debt “revolves” from month to month, though you pay a percentage each month.
You’ve tried everything else
Maybe you’ve already negotiated with creditors for a better payment plan. You’ve refinanced loans. You’ve done your best to budget and search for more income sources. And you’ve explored debt consolidation, management, and settlement.
Been there, done all of the above? Keep reading.
Since declaring bankruptcy takes time and affects your credit, it’s often considered a last resort. But the resort is there for a reason. Life happens. Overwhelming medical debt, for example, is a frequent cause of bankruptcy. If medical bills are stressing you out, though, you may have more options than you realize.
You’re eligible to file
We’ll discuss the two types of individual bankruptcy—Chapter 7 and Chapter 13—in detail below. But first, find out if you qualify.
For either type of bankruptcy you should be 90 days overdue on all the debts you need to discharge.
Chapter 7 bankruptcy requires filers’ monthly income to be below the median monthly income for their state (and a household of their size). To figure out your median income, add your gross income from the past six months and divide by six. Then deduct “reasonable and allowable expenses”. This includes what you spend each month on essentials like groceries, housing, and transportation. The number remaining is the income you have available to repay debts.
Here’s a 2016 estimate of the median annual household incomes per state—divide this number by 12 to see if you’re below the average.
If your income’s over the limit, you might still qualify for Chapter 13 bankruptcy.
So how are the two types different? And which one should you choose?
Chapter 7 bankruptcy
Otherwise known as “liquidation bankruptcy,” Chapter 7 is designed for individuals with no way to pay their bills otherwise. This type of bankruptcy pays off as much of your unsecured debt as possible, including credit card debt and medical bills. The court “liquidates” your assets by converting them into cash to pay off your creditors.
The process takes anywhere from three to six months. It’s usually much quicker than Chapter 13 bankruptcy. You can keep any assets your state marks as “exempt.” Your house or car, for instance, may or may not be exempt depending on the state you live in. If they’re not exempt, they can be collected. You’re more likely to lose assets if their equity—the value of the property minus the amount still owed—is high.
What if you have little to no income and few (if any) assets? Chapter 7 bankruptcy may be the best choice for you. Be aware, though, Chapter 7 doesn’t erase the obligations of any co-signers you may have on a loan.
Chapter 13 bankruptcy
Also known as “reorganization bankruptcy” or “wage earner’s bankruptcy,” Chapter 13 is designed for people who have a consistent income and who want to keep their property. Chapter 13 bankruptcy gives filers a “grace period” of between three to five years to make payments on their debts. Any debts that remain at the end of the grace period are discharged.
The Chapter 13 plan is similar to debt consolidation. Unlike Chapter 7, this plan lets you keep your assets. It can erase the same debts Chapter 7 can erase, along with any debts from a divorce (except for alimony and child support). The court will determine the value of your equity in assets, look at your income and expenses, and figure out a repayment amount and schedule.
If you have money coming in but you need to buy some time—and you want to ensure you keep your house—Chapter 13 bankruptcy may be the best choice for you. Chapter 13 also protects any co-signers, as long as you make payments on time.
What to know before you file
This is not a decision to be taken lightly (obviously), so consider the following before filing.
Your credit will be affected
A Chapter 7 bankruptcy stays on your credit report for 10 years. A Chapter 13 bankruptcy stays on your credit report for seven years. Scores can drop anywhere from 50 to 200 points (higher scores will drop more steeply). You may have trouble getting certain loans or will pay higher interest rates. But people have successfully obtained credit and even purchased homes after declaring bankruptcy. Good money management practices, from here on out, go a long way.
You’ll have a meeting or two in court
For Chapter 7 bankruptcy you only have to go once, to a hearing called a “Meeting of Creditors.” The trustee will ask you questions about the paperwork you filed, including your assets and debts. Creditors may or may not attend—they usually don’t. For Chapter 13 bankruptcy you go to court twice, for the Meeting of Creditors and an additional confirmation hearing.
You need a lawyer
Technically you can represent yourself, but experts don’t recommend doing this. Filing becomes complicated and takes time and research to get all the facts right. Especially with a Chapter 13 bankruptcy, the more complex kind, there are details of bankruptcy law only an attorney can navigate. Fees range between $2,000 and $4,000. The fee may seem steep, but you’ll save on the penalties you might pay otherwise. The American Bar has a directory of bankruptcy lawyers. Some lawyers offer free first consultations, and you may even be eligible for pro bono representation. The American Bankruptcy Institute keeps a list of pro bono bankruptcy attorneys in each state.
Bankruptcy becomes part of a public record
Potential lenders will know you’ve filed for bankruptcy in the past. Your employer, however, can’t fire you for declaring bankruptcy.
There’s a fee of around $300 to file
If your household income is less than 150% of the poverty line, the fee can be waived.
You’ll have mandatory financial counseling
The process of filing for bankruptcy includes mandatory lessons on financial literacy. You take one class before you file and one class before your bankruptcy is discharged.
Your spouse won’t be affected
Your spouse does not have to file for bankruptcy, and your filing won’t affect their credit. The exception is if you need relief from debts you acquired together. In that case you can jointly file for bankruptcy.
You’ll need to simultaneously stop bill payments
Once you file you’ll probably be required to stop all bill payments at once. This may feel strange, but any payment can show you favor one creditor over another, which creditors don’t like.
Filing bankruptcy, first steps
If you think you may be a candidate for bankruptcy, start gathering as much information as you can as early as possible. Although you can learn a lot online about the pros and cons of bankruptcy—and what to expect if you file—you’ll want a lawyer that specializes in bankruptcy to actually go through with filing.
Bankruptcy filing fees and your lawyer’s fees are apt to cost anywhere from $1,000 to several thousand dollars, which is another reason why the decision to file bankruptcy should be made extremely carefully.
If, however, creditors are already pursuing you in court, and bankruptcy will help keep the roof over your head and food on the table, those costs—and the other downfalls to bankruptcy—may just be worth it.
Summary
Filing for bankruptcy is a last resort and can be frustrating. But the end result should give you a little breathing room and a chance to rebuild your finances. Take advantage of this chance if you need to.
Of the estimated 211,154 residential units foreclosed on in California during 2009, roughly 77,145 were rental units, according to a new report focused on tenant rights.
The foreclosures resulted in the displacement of an estimated 208,795 tenants who were living in single-family homes, condos, and multi-family apartments, despite likely making on-time mortgage payments every month.
From 2008 to 2009, there was a 70 percent increase in the foreclosure rate of apartment buildings of five units or more – single-family foreclosures fell 3.1 percent year-to-year.
An overwhelming 85 percent of the foreclosed properties went back to banks and mortgage lenders in 2009, while private investors took the rest.
During the year, banks forfeited more than $776 million in rental income, focusing on booting tenants by hiring lawyers to litigate eviction cases and having real estate agents carry out cash-for-keys deals.
“Once the properties are vacated, they become prime targets for vandalism, further contributing to plunging property values, and creating legal liability for banks as the owners of blighted vacant property,” the Tenants Together report said.
“Furthermore, banks continue to tarnish their standing in local communities by maintaining their policies to evict rent- paying tenants.”
Fannie Mae and Freddie Mac have implemented post-foreclosure programs to assist renters, but many banks apparently continue to see tenants as obstacles to future profits.
Tenants Together is calling for better tenant protections, including making the “Protecting Tenants at Foreclosure Act” (PTFA) permanent, passing local “just cause for eviction” laws, providing tenant notification when a landlord receives a foreclosure filing, and boosting legal funding for tenants in foreclosure situations.
Currently, PTFA provides tenants with the right to a 90-day notice to vacate after foreclosure and requires new owners to allow tenants with leases to continue occupying properties until the end of the lease term, unless sold to a buyer who intends to occupy the property as their primary residence.
An IRA is a simple little thing. It’s a common, garden-variety retirement vehicle, basically nothing more than a savings account with initials — right? Wrong.
The rules regulating IRAs are varied and vexing; IRS Publication 590 [PDF], the definitive source for Uncle Sam’s shalls and shan’ts regarding IRAs, weighs in at a hefty 108 pages. And then there are all the guidelines about employer-sponsored plans — e.g., 401(k)s and 403(b)s. Whew! Seems like all this would be enough to fill a two-day conference focusing on nothing but retirement accounts.
Actually, it is. I know, because I attended one — Ed Slott’s two-day IRA workshop (fun!). Slott, a CPA and the operator of IRAHelp.com, is recognized as one of America’s foremost authorities on individual retirement arrangements (yep, that’s what the “A” in “IRA” actually stands for). At the conference, he and his team led 100 financial-services pros (and one Fool) through a 430-page manual that described the care and feeding of retirement accounts, as well as several real-life examples of people who made mistakes that cost them thousands of dollars.
Some examples:
A teacher withdrew $67,553 from her 403(b) to pay her daughter’s college expenses. She paid the income taxes, but thought she’d be exempt from the 10% penalty since the money was used for higher-education expenses. Sadly, that exemption applies only to IRAs, not 403(b)s or 401(k)s. Oops.
A widow inherited a $2,646,798 retirement account from her deceased husband. She transferred it to her own IRA, then withdrew $977,888. She wasn’t yet 59-1/2 but figured she’d be spared the 10% early withdrawal penalty since she inherited the account. Indeed, distributions from inherited accounts are exempt from the 10% penalty. However, since she transferred the account to her own IRA, she owed Uncle Sam $97,789. Bigger oops.
It would be the ultimate in stinkiness if you spent years — nay, decades — saving in a retirement account, only to lose thousands due to one simple mistake. Here are just some of the guidelines you must follow to prevent just such a mistake from happening to you.
Stuffing It The maximum you can contribute to an IRA in 2011 is $5,000 — or $6,000 if you’re 50 or older. Granted, the biggest source of your IRA’s funds is likely a transfer from a 401(k) or other employer plan, but contributing $5,000 annually is nothing to sneeze at. For one thing, sneezing at something is rude — but more importantly, contributing $5,000 a year to an account that earns 8% annually would result in $78,227 after 10 years and $247,115 after 20 years. Not shabby at all.
While contributing to an IRA can pay off over the long term, most people first contribute to their employer’s retirement plan, especially if the boss matches contributions. After that, you may want to contribute additional savings to an IRA; if you have money in a retirement plan with a former employer, moving that to an IRA also makes sense.
Here are the advantages of an IRA over a 401(k) or other plan:
More investment options. The typical 401(k) offers a menu of five to 15 mutual funds, whereas an IRA with a discount brokerage allows the owner to choose from among thousands of stocks, exchange-traded funds (ETFs), mutual funds, individual bonds, CDs, and, if approved, alternative strategies such as options.
Lower costs. This depends on the plan and the IRA provider, but the cost-conscious investor will have more ways to limit fees in an IRA, such as investing in index funds, ETFs, or stocks that you hold for many years (avoiding the annual expenses of funds).
There are two reasons not to transfer an employer plan to an IRA:
If you retire between the ages of 55 and 59-1/2, you can take money out of the plan from your last employer penalty-free, whereas withdrawals from an IRA before age 59-1/2 might result in a 10% penalty.
If you own stock in your employer, you’re likely better off transferring it to a taxable account to take advantage of net unrealized appreciation (NUA).
Getting It There From Here The easiest and best way to move money from one retirement account to another is with a “trustee-to-trustee transfer.” Contact the company to which you wish to move the money, complete the paperwork they send you, and they’ll handle the rest.
You want to avoid being sent a check payable to you alone. If that happens, you’ll generally have 60 days to get the money into the new account. Wait any longer and it may be considered a distribution from your previous plan, subject to taxes and possible penalties. In addition, 20% of the distribution may be withheld; you’ll have to cover that gap with personal funds when you move the money to a new account, but you’ll get a refund when you file your taxes. If you don’t make up that 20%, it, too, will be considered a distribution subject to taxes and penalties. This is all very bad.
If your current account provider insists on sending you a check, request that it be made payable to the new financial institution — for example, “XYZ Bank as trustee of IRA of John Doe” or “ABC Firm FBO Jane Smith” (FBO means “for benefit of”).
Spending It As mentioned earlier, you generally have to wait until age 59-1/2 before tapping retirement accounts, whether IRAs or 401(k)s — if you don’t, you’ll be charged a 10% early-distribution penalty. However, there are several exceptions. Some apply to both IRA and employer-sponsored plans, others to just one. (Any exceptions apply just to the 10% penalty; regular taxation will still apply.)
The chart below lists the possible exceptions. If you find yourself in any of these situations, take the time to know all the details before you make a withdrawal. Most exceptions are restricted to certain groups, but Substantially Equal Periodic Payments are available to everyone; they’re explained in IRS Code 72(t), but they’re complicated and can trigger the penalty if not done properly. For all the details, visit www.72t.net.
Note: The very first exception listed is also available to everyone, but it’s a large price to pay to avoid an IRS penalty.
Medical expenses that exceed 7.5% of adjusted gross income
?
IRS levy
?
Active reservists
?
Distributions from inherited accounts
?
Higher education, for self or qualified relatives
?
“First-time” home buyer, up to $10,000 per account owner (can be used for qualified relatives, or for yourself if you didn’t own a home in the previous two years)
?
Health insurance if unemployed
?
Age 55
?
Age 50 for public safety employees
?
457 plans
?
Dividends from employee stock ownership plans
?
Qualified Domestic Relations Order
?
Totally insane prices on flat-screen TVs at an after-Christmas sale
Contributions to a Roth IRA can be withdrawn tax- and penalty-free at any time, while earnings will be subject to the age 59-1/2 rule (as well as the five-year rule, which is a whole other complicated ball of wax). A Roth 401(k) is a different matter; all withdrawals are a proportional mix of contributions and earnings, with any taxes and penalties being assessed against the earnings only.
When You Gotta Take It Owners of traditional IRAs as well as traditional and Roth employer plans must begin taking annual required minimum distributions (RMDs) the year they turn 70-1/2. Alternately, they can wait until the following year but take two distributions in that year. Otherwise, they’ll pay a 50% penalty. Yes, even a Roth 401(k) has RMDs, but they can be avoided by transferring the money to a Roth IRA — the only account not subject to forced liquidation.
Surprisingly, beneficiaries of inherited retirement accounts must also take RMDs beginning in the year following the death of the original owner. This is true regardless of age — even if the account is a Roth IRA. The only exception: a surviving spouse who elects to make the inherited account her own (i.e., has it re-titled in her name) or rolls over the inherited account to her own existing account.
While non-spouse beneficiaries can roll an inherited 401(k) to an inherited IRA, they can’t avoid the RMDs. The account must remain titled something along the lines of “Joe Smith, deceased, IRA for the benefit of Joe Smith Jr. as beneficiary.”
Bequeathing It If you’re interested in passing on wealth to your family, you probably want as little to go to taxes and lawyers as possible. Start by naming living, breathing human beings on your account beneficiary forms. Doing this means the account bypasses your will and probate (which can cost time and money), and the beneficiary or beneficiaries can “stretch” the account over their lifetimes. If the form is blank, or the listed beneficiaries are themselves deceased, the money will go to the estate. In that case, the account may have to be liquidated within five years, and it will lose all the tax advantages of an IRA or 401(k).
Keep in mind that the beneficiary form often trumps other legal documents, such as wills and prenuptial agreements. If your beneficiary form says your IRA should be split between your son and daughter, but your will says it should just go to your daughter (because your son has turned out to be an irresponsible spendthrift — or a banker), the account may end up being split. And to minimize the risk of lost or messed-up beneficiary forms (it does happen!), keep copies in your own records.
It’s important to name primary beneficiaries as well as contingent beneficiaries (the people who will inherit your accounts if the primaries are deceased, or if they’d rather the contingent beneficiaries get the money). If you’ve inherited an IRA, make sure you name new beneficiaries.
Protecting It Finally, here are three other considerations for protecting your retirement accounts, during this life and beyond:
Creditors and bankruptcy. The money in your employer-sponsored retirement account most likely can’t be lost to bankruptcies, creditors, or lawsuits. IRAs receive bankruptcy protection up to $1 million. However, the amount of protection from other creditors varies by state.
IRA fees paid with non-IRA money. Many IRA providers charge an annual account fee, which is automatically taken from your account assets. However, you can instead send a check to the custodian and leave more money in the IRA to grow. This also applies to annual “wrap” fees, though not to commissions and mutual fund expenses.
Estate taxes. Retirement accounts, including Roths, are included in a gross estate for tax purposes. Recent laws increased the federal estate tax exemption to $5 million per person and $10 million per couple, but the limits drop in 2013. Twenty states also impose estate taxes, with exemptions as low as $338,333. If your estate is or will be worth a few million dollars or more, see a local, qualified estate-planning attorney.
Remember: Get help if you need it. If you’re going to make a significant change to your retirement accounts, you might want a little professional help to make sure you’re doing everything right. IRAHelp.com features a listing of advisors in your area who have taken extra training about IRAs and 401(k)s. Also, the fee-only financial advisors at the Garrett Planning Network charge by the hour (among other methods), which makes it easier to get your questions answered without having to turn over your entire financial life.
This guest post from Nick Rothacher, the self-taught economist, is part of the “reader stories” feature at Get Rich Slowly. Some stories contain general advice; others are examples of how a GRS reader achieved financial success — or failure. These stories feature folks from all levels of financial maturity and with all sorts of incomes.
Six months ago, my wife and I sold our two-bedroom, two-bath condo located in the heart of downtown Salt Lake City. We saved close to five thousand dollars and sold the property without much stress, frustration, or wasted time. Here’s how we did it.
Starting Early
Life changes fast, and when my wife started applying to graduate schools across the country, we knew we needed to be flexible with our housing situation. We started talking about selling our condo over a year in advance of when we would be moving. This extra time was invaluable because we weren’t stressed about reducing our price in order to make a quick sale. When you sell real estate in a depressed market, time is your friend.
Exploring Options
Initially, we tried selling the condo “For Sale By Owner”. The primary benefit of selling For Sale By Owner is to avoid the commissions and fees paid to real estate agents. We took digital photographs, created our own fliers to market the property, and started advertising on free sites like Craigslist and local online classifieds. Unfortunately, nothing seemed to work.
After three weeks with few prospects, we escalated our marketing attack. From my yearlong stint as a real estate agent, I learned that many buyers (especially Baby Boomers) prefer to use a real estate agent to help them purchase a property.
We needed to get our property listed on the MLS (the Multiple Listing Service). We paid a local discount brokerage $175 to list the property. This service is considered a “discount” or “flat-fee” brokerage and the fee covers the following services:
Property is listed within 24 hours
Six month listing period
Property is advertised on multiple websites
Six photo listing
But in order to really market the property, we needed to go beyond the services listed. My wife and I took the initiative and did the following:
Adapted our flier to direct people to the MLS listing.
Used our own pictures that highlighted all parts of the property — inside and out.
Provided property tours to folks that called to schedule a walkthrough.
Held two open houses and advertised with yard signs, the MLS listing, Craigslist, and other online media.
Communicated regularly with our broker to update the MLS listing.
After another three weeks had passed, we received a low offer. We submitted a counteroffer with a price closer to our listing price and it was accepted! Property sold. Many dollars saved.
Crunch the Numbers Yourself
Conduct a simple cost-benefit analysis to see if an agent is really worth it. Typically, you pay 6% of the sales price to have an agent list your house, which is divided 50/50 between the buyer’s agent and the seller’s agent.
What this means is that the remaining 94% of what an agent can get for me better be worth more than 100% of what I can get for myself!
I listed my property at $165k, which means I would have paid 3% to the buyer’s agent ($4,950) and another 3% to the seller’s agent (another $4,950), for a combined cost to me of $9,900.
But because I used a discount broker, I paid $4,950 to the buyer’s agent and only $175 for the seller’s (our) agent.
Total savings = $4,775.
The Death of the Real Estate Agent?
Did you know there are over a million real estate professionals currently affiliated with the National Association of Realtors? (And that’s down from 1.2 million at the peak of the housing boom in 2006.) I’m bound to upset a majority of them with what I say next, but my sole intention is to educate GRS readers.
There has to be value to justify hiring a real estate agent. If my wife and I believed that a full-service real estate agent would have provided $4,950 worth of services in the following areas, then we would have hired someone to:
help with paperwork
help with advertising
help with knowledge in a variety of areas
help provide access to the property
help to sell the property more quickly
help fix the cosmetic changes to help the home sell
help us to understand current market conditions and the value of comparable homes in the area
Thanks to the internet, most of these services are no longer as valuable as they once were. Every one of the topics listed above can be found with the help of an online search engine. The buyer/seller can learn about all of these topics in a matter of minutes.
In our case, it just didn’t make sense to hire a real estate agent to list our home. We live in a busy metropolitan area and we knew our buyer audience was large. We ended up selling to some parents that wanted an investment and a safe place for their two daughters in college.
The Future of Real Estate Agents
The internet continues to change the way we access information about real estate. For buyers and sellers, this is a positive change that can save us money, but for real estate sales agents and brokers, it presents new challenges to the profession.
As the quality of information on the internet improves, many of the “gatekeepers” and the “knowledge holders” will be unable to keep their expertise out of the hands of the general public. I’m not saying that doctors, lawyers, and other professionals will no longer be valuable. But believe me, getting your real estate license is not exactly the equivalent as going to law school or med school.
Don’t Believe Me?
Look around. Agents are posting properties on Craigslist and free classifieds because that’s where buyers are looking. I definitely don’t need an agent to post pictures on Craigslist — I can do that myself.
The MLS is the last stronghold that real estate agents cling to because their livelihood depends on it. But don’t be surprised when someone develops a database that is fully accessible to the public, making the MLS obsolete.
My last complaint about real estate agents is that they get paid based on the market price of your home. From the graphic above, you can see that the values of homes in the U.S. have increased (look at the red line) tenfold from 1975-2005.
Did the amount of work increase tenfold? Did it become ten times harder to sell a home? No and No. This 6% “tax” really hurts Americans because on average, people sell their home every 5-7 years. If you want to read more about the negative effect this has on the economy and how full-service brokers are working hard to eliminate discount brokers, here is a great article.
So next time you buy or sell a property: explore your options, educate yourself, and save money!
Your U.S. credit score doesn’t transfer over to other countries. You’ll need to build a new credit profile based on a country’s rules and guidelines.
The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. See Lexington Law’s editorial disclosure for more information.
Moving to another country can be exciting, but it also means you need to do a lot of research. Are your language skills good enough? Where will you live? Do you need to pay your remaining debts? Will your credit score move with you?
While abroad, you’ll still be responsible for any remaining balances on your debts in the United States. One thing you won’t be able to do is to bring your credit score to your new country. You’ll need to build a new credit profile based on that country’s rules and guidelines.
Your U.S. credit score won’t follow you abroad
Each country calculates creditworthiness independently of other countries’ systems. This means you start living in your new country without any credit. It’s still your responsibility to pay any outstanding debts in the United States, though—paying what you currently owe is important no matter where you live.
Starting from scratch can be a tremendous help to people with lower credit scores. You hit the reset button on your credit and start fresh in a new location. There are three main credit bureaus in the United States: TransUnion®, Equifax® and Experian®. Each collects information from lenders or creditors that lend to you. This information can show how responsible you are when it comes to your debts.
These bureaus have divisions in other countries, but the different divisions are kept separate throughout the world to protect you from fraud and keep your information private. It could still be beneficial to show foreign lenders your U.S. credit report, but it may not be accepted by every lender.
Do other countries have credit scores?
In short, yes, some countries have some kind of a credit score. Some of these countries have credit systems that are similar to the United States’, while other countries rely on different methods of judging creditworthiness.
Credit in the U.K.
The credit score calculation system in the U.K. is similar to the method used in the U.S. The prominent companies used are Experian, Equifax and Call Credit. Each of these bureaus calculates your credit score differently. They’re similar to the U.S. because they score your credit based on your payment history and credit utilization. However, according to Experian U.K., you can improve your scores by registering to vote or explaining why you can’t vote.
Credit in Japan
Japan doesn’t use an official credit scoring system. Relationships form between the consumer and the bank. If you work with an international bank that has ties to a bank in Japan, your credit score may be considered. Additionally, every bank may not lend to foreigners, and most banks’ criteria for lending include length of employment and salary.
Credit in France
France is another country without an official credit scoring system. Instead, it bases your lending power on your savings and salary. For example, French Property states you’d need 3 months’ worth of bank statements and a down payment of at least 15 percent to be considered for a mortgage.
Credit in Germany
Germany uses a private company called SCHUFA to monitor credit reporting. According to the Open Knowledge Foundation, SCHUFA bases the credit score calculation on criteria similar to the U.K. and the U.S.
Do your research before you go
Whatever country you decide to move to will have different criteria for its banking system. You’ll want to do your due diligence in preparation for anything that may come up while living abroad.
As a foreigner, you could face many challenges trying to establish credit and borrow money in another country. If possible, do a lot of research to ensure you don’t miss something important.
Protect your credit while you’re abroad
You’ll need to protect your financial information while living in another country. There may be a time when you wish to return to the U.S., and you don’t want to leave your credit to chance while you’re away.
It’s important to keep paying any debts you still owe in the U.S. You’ll still need to make payments on everything from mortgages to credit cards, or you risk hurting your credit. By keeping up on your payments, you’ll return to the States in good standing as far as your credit is concerned.
Place a fraud alert or credit freeze
Freezing your credit or placing a fraud alert on your accounts can help you protect your credit.
A credit freeze stops your credit report from being accessed by anyone. While you’re abroad, your information is at additional risk of being compromised, and it can be even harder to catch fraud when it happens. Freezing your credit can help you with prevent this problem. When freezing or unfreezing your credit, you’ll need to contact each bureau individually.
A fraud alert protects you by directing any potential lenders to verify your identity before letting someone open an account in your name. This option is less foolproof but might be more convenient for you. When you place a fraud alert on your accounts, you’ll need to contact each of the main bureaus separately.
Keep your U.S. accounts open
According to the Expat Network, it’s crucial to maintain your U.S. credit score regardless of where you move. Bad credit can affect your ability to gain entry into another country by denying you access to a visa or other documents you may need while living in your new country.
When living abroad, you’ll want to keep your accounts in the U.S. open and current. Sometimes accounts close when they go idle for a while, so keep things like your credit card accounts active to make sure positive credit history can still build. Plus, whenever you return to the U.S. for a visit, you can use these credit cards and save money on foreign transaction fees or ATM fees.
Use a good travel credit card
Credit cards not meant explicitly for international travel may hit you with fees every time you use them. Foreign transaction fees add up over time, primarily if used to purchase daily items. Using a card meant for traveling can be cheaper and ensure your transactions aren’t denied.
Credit cards with a chip are considered much safer than a card you swipe. Many other countries will require your card to come equipped with a chip. Travel credit cards typically have chip embedded in them.
Check your reports when you return
When you get back to the United States, you’ll need to be sure to check your credit reports to see if there are any discrepancies. In some cases, you’ll see that older debts fell off your credit reports, depending on how long you were away. If you don’t recognize something on one of your credit reports or if it’s more than seven to 10 years old, you may be able to get it removed entirely. You can dispute an inaccurate item by contacting each relevant bureau or lender.
Whether you’re just planning to move or you’ve already moved to another country, a professional can help you if you want to repair your credit. This person or company should know the ins and outs of consumer protection laws to help ensure your rights and keep your credit reports accurate.
The lawyers and paralegals at Lexington Law can help you work to repair your credit. Contact us for a free credit repair consultation before your big move. A free consultation with us includes a thorough review of your credit report and score.
Note: Articles have only been reviewed by the indicated attorney, not written by them. The information provided on this website does not, and is not intended to, act as legal, financial or credit advice; instead, it is for general informational purposes only. Use of, and access to, this website or any of the links or resources contained within the site do not create an attorney-client or fiduciary relationship between the reader, user, or browser and website owner, authors, reviewers, contributors, contributing firms, or their respective agents or employers.
Reviewed By
Miriam Allred
Associate Attorney
Miriam Allred was born and raised in Southern California.
After high school she joined the US Navy. She then went on to get an Economics degree from Chapman University where she got to enjoy an internship at the United States Supreme Court. Miriam then went to Brigham Young University where she received her Juris Doctor. Prior to joining Lexington Law, Miriam worked as a civil rights attorney dealing with discrimination and sexual harassment. In this role she helped write and create policies and investigate sexual harassment and discrimination complaints. Miriam also has experience in family law. Miriam is licensed to practice in Utah.
Looking to learn how to become a sleep consultant? Here’s how you can find pediatric sleep consultant jobs and work from home.
Sleep is important for a baby’s growth and well-being. And, for the parents too!
But many times, parents struggle to help their child get the sleep that they need.
That’s where pediatric sleep consultants come in. They are experts who specialize in helping families with children’s sleep problems so that everyone can get a good night’s sleep. If you enjoy working with kids and want to make a difference in their lives, becoming a sleep coach could be a great new career choice.
Today, I have a helpful interview about how to become a sleep consultant with Jayne Havens. Jayne is a pediatric sleep consultant and founder of the Center for Pediatric Sleep Management (a baby sleep training program that can help you get started with this rewarding career).
Today’s interview on how to become a baby sleep consultant answers questions such as:
What is a sleep consultant?
What does a sleep consultant do?
Why do families need child sleep consultants?
How much does a sleep consultant earn?
How long does it take to be a sleep consultant?
Is there enough room for new sleep consultants?
Today’s in-depth interview will help you get started with learning how to become a certified pediatric sleep consultant and perhaps even introduce you to a new way to make money from home.
You can learn more about how to become a pediatric sleep consultant by downloading a free ebook from Jayne by clicking here.
How To Become a Sleep Consultant
1. Please give us a little background on yourself and how you got started as a sleep consultant.
My journey to becoming a sleep consultant began when my first child was born. He was a really good sleeper as a newborn, but then he hit that classic four month sleep regression that so many babies experience and as a new mother I had no idea what was going on! He went from sleeping through the night to waking every hour on the dot. He wasn’t hungry, a quick pop of the pacifier put him right back to sleep but I was exhausted.
I remember heading to the book store and sitting on the floor surrounded by books about infant sleep. I read everything I could get my hands on as I was motivated to get my baby sleeping again.
After much research, I figured it out. With guidance from books, and support from friends, I sleep trained my son. The experience was life changing.
Teaching my son to fall asleep and back to sleep independently was the best thing I could have done for him and our entire family. He was rested, and I was rested too.
I found it to be such an empowering experience that I decided to help friends. For years it was just a hobby. I would support friends and even friends of friends through the sleep training process. I was good at it, and it felt so nice to help other moms.
Four years later, my daughter was born and thankfully I knew so much more the second time around. I was able to establish healthy sleep habits for her early which was such a relief.
That being said, after four years of staying home with my children, I was itching to get back to work. My husband travels a lot for his job and it felt really impossible to head back to an office job with two young kids at home, so I decided to turn my passion into a career.
I went online, took a sleep consultant certification course and within a few months I got my business up and running. My intention was to have a bit of a side hustle or passion project but my business grew rapidly and within two years I was earning six figures in my business. It was such a blessing because I really was able to grow my business while being the primary caregiver for my children at the same time.
I love that my children are watching me grow a business. We have extra income to take more vacations, make updates to our home, and do all the things that we as a family like to do together.
2. What is a sleep consultant? What does a sleep consultant do?
A sleep consultant supports parents through the process of establishing healthy and independent sleep hygiene for their children.
Depending on the child’s age and the family’s unique circumstances, sometimes this just involves helping the family get into a good routine with naps and feedings during the day, sometimes it’s coaching parents through sleep training, and sometimes it’s supporting parents as they set what I like to call “loving limits” around bedtime with their older children.
A good sleep consultant will meet their clients where they are, and support them to reach their unique goals in a way that feels safe and comfortable for them.
Some sleep consultants will physically go to their clients’ homes and support the family in person, but most sleep consultants support their clients virtually.
At Center for Pediatric Sleep Management, we specifically teach the virtual model of the business. Our students learn how to get onto a discovery call and speak to a prospective client in a way that would make them want to hire you. You will learn how to write a written sleep plan, and coach your clients to achieve their personal goals. The beautiful thing about working as a sleep consultant is that this work can largely be done from your phone or tablet. You can set up FaceTime or Zoom meetings, or phone calls if you prefer. Our day to day support is largely provided via email and text!
3. Why do families need sleep consultants?
Families don’t necessarily need sleep consultants, but the service and support we provide is invaluable.
So many families are struggling to navigate their baby or toddler’s sleep. Their children are up sometimes a dozen times overnight and they lack both the information and support that is necessary to resolve this struggle. There is so much information online, and every single mom-friend is giving different advice.
Sometimes it’s so hard to figure out what to do!
A sleep consultant will look at the family’s unique set of circumstances and provide a plan that is tailored to their needs. Then once a strategy is in place, they will provide a high level of support as parents work to make changes in their home.
This combination of information and support is the perfect recipe for success!
4. How much does a sleep consultant earn?
Some sleep consultants do this work part time and others work full time.
When you work for yourself, the possibilities are endless.
Some graduates of Center for Pediatric Sleep Management make $500-$1,000 each month while doing this on the side of their full-time jobs while others make $15,000 each month or more doing this work full time.
We even have a graduate who earns $40,000 each month from selling online courses to parents who do not want to work 1:1 with a coach. Really anything is possible!
The key to growing a successful sleep consulting business is to take it one day at a time. Set micro-goals for yourself and allow yourself to grow at a pace that is realistic for you. If you keep working on your business and you are committed to your own success, you will achieve your own goals!
5. How long does it take to be a sleep consultant?
Center for Pediatric Sleep Management is a self-paced program and our students have lifetime access to the course curriculum and our Facebook group for students and grads.
The information is delivered via an online platform and the curriculum is a combination of reading and video content.
Everyone finishes their studies on a timeline that works for them, but we estimate the course to be about 50 hours of coursework.
Many of our students complete their training in 4-6 weeks. If you have a busy life and a hectic schedule, no problem. If it takes you longer to complete the course that is entirely ok.
6. How do you qualify as a sleep consultant?
You need no prior education to become a certified sleep consultant. The course curriculum is robust so you must be willing to work hard and learn.
7. Is there a demand for sleep consultants? Is there enough room for new sleep consultants?
Sleep consulting is an up-and-coming field.
Most new parents have never even heard of a sleep consultant so there is lots of room for growth in this field. There will always be way more tired parents than there are sleep consultants, so it’s up to us as sleep consultants to normalize this type of support and show parents why it’s life changing for them to hire a sleep consultant.
Just like with any profession, I don’t believe in an over-saturation of the market. Sure, there may be tons of lawyers, real estate agents, dentists, occupational therapists etc. but if you are good at your job, you can grow a clientele and a successful business.
There is not a finite number of seats at the table of success!
8. How does a sleep consultant find customers?
The secret to growing a successful consulting business is making sure that as many people as possible know that you have a business and how you can serve your target audience.
Some sleep consultants grow an audience on social media, connecting with prospective clients online.
Other sleep consultants really avoid social media and prefer to connect in real life. Pediatricians, occupational therapists, feeding specialists, preschool teachers, daycare directors, family photographers, little gym owners etc. are all great referral sources for sleep consultants.
If you are willing to network with professionals that already support parents in other capacities, you will have no trouble building a client base for your own business!
Once you have supported a handful of families, chances are they will have such a life-changing experience that they will scream your name from the rooftops! Client referrals are the best kind because these new families have already heard first hand how helpful you have been to someone they trust.
9. Do you need a college degree to become a sleep consultant?
No degree necessary!
10. Can you list the steps needed to get started as a sleep consultant?
The first step is to enroll in a sleep consultant certification course. Once you have enrolled, commit to finishing your course. Once you have completed your training and all assignments, the next step will be to get your business up and running.
This can feel daunting and overwhelming, but not to worry as it’s all outlined in the business section of the program. You will take care of some logistical tasks such as forming an LLC, setting up your business bank account and perhaps a website and social media accounts.
More importantly you will start making some connections. Announce to friends and family that you have launched your own sleep consulting business and don’t be afraid to ask people you know to share your business with their circle. Word of mouth is so powerful.
When you land that first client, make sure to take great care of them as you will want them to have a positive experience and share your name with their friends who may also benefit from your support.
11. What other tips do you have to share?
I always like to say, the secret to getting ahead is GETTING STARTED!
There is no sense waiting around as that will only delay your success. When you commit to starting something new, even if it feels a bit scary and outside of your comfort zone, that’s the first step that will be one of many that ultimately leads you in the direction you wish to go.
As entrepreneurs we all fear the unknown. We also fear failure. In order to succeed, you have to be willing to try!
12. Can you tell me more about the sleep consultant business training that you offer? Why did you decide to start a course?
I decided to create my own sleep consultant certification course because I noticed that there were some major gaps in other programs offered at the time.
Some courses only teach one approach, which is an approach that they deem to be the best. The problem with this is that there really is no one size fits all approach to sleep training. The key to success with this process really is meeting families where they are and coaching them through methods that align with their parenting style.
Forcing parents to implement sleep training techniques that don’t feel comfortable for them is the fast track to failure! At CPSM we are fully committed to teaching all sleep training methods and techniques. This best prepares our students for success!
I also noticed upon graduation from a sleep consultant certification course that many students were craving a higher level of mentorship and support than what was being provided through these programs. Students and graduates had questions that were being answered by others who didn’t necessarily have the experience or the qualifications to be giving sound advice. It felt like the blind leading the blind. When I launched my own program I knew I wanted to do it better. I am committed to making sure that my students always feel supported and that they always have answers to their questions.
Lastly CPSM places a very heavy emphasis on business building and entrepreneurship. I recognize that most who decide to become sleep consultants have no prior experience with launching or growing their own small business. This feels very overwhelming and scary to them. We address this head on inside our curriculum by teaching sales, marketing, business growth strategy and mindset work inside the course. Our students come to us as apprehensive and nervous beginners and we turn them into confident experts. It’s the greatest feeling in the world seeing their transformation before my eyes. I hope you will join us!
You can learn more about the course at Center for Pediatric Sleep Management.
Do you want to learn how to become a sleep consultant?