Are you looking for ways to earn some extra money from home to get out of debt or create some breathing room in your budget? This simple five-step plan will help you do just that.

This post is sponsored by Xero.

If you’re a regular reader of this blog, you are likely a mom in your mid 20’s to 30’s. You might start a business from home (babysitting, VA, selling MLM or something). You may work part-time or full-time out of your home, but you would really like to get back home to your kids or work from home. You may even be a blogger, like me.

How to Earn Extra Money From Home (in Five Easy Steps!)

1. Assess your marketable skills that could earn you money.

Read: 5 Ways to Make Money Online Using Your Skills

2. Set up your home office.

Read: These Home Office Ideas Will Make You Want to Work

3. Open a business checking account.

Read: 7 Things to Look for in a Business Bank Account

4. Create a plan to minimize the insanity where your home and work lives will intersect.

Read: 5 Sanity Saving Tips Every Mompreneur Needs

5. Get an inexpensive, easy to use accounting system.

I want to tell you about a simple solution that makes something intimidating easy to tackle.

Have you heard of Xero? It’s an online accounting system that just recently reached one million users! I love these features:

• Cashflow – Get a real-time view of your business financials with our convenient dashboard.
• Invoicing – Create customized recurring invoices – and know when they’re opened.
• Mobile – Manage business financials – such as invoicing and expensing – from the road.

How Xero can help your business

Xero designed an entire new breed of accounting software for startups like yours. Born in the cloud, Xero moves at the speed of your new business.

When you spend less time balancing your books, you have more time for working on your business and spending time with your family. And when you have 24/7 access to the health of your business all in one place, you can manage your business effectively and confidently. That’s Xero for mompreneurs.

How Xero is better than my former “Paypal” accounting system

I used to use Paypal as my “accounting system.” It’s easy to use because most bloggers and brands have a Paypal account. I receive most of my payments this way and a few through Bill.com. I can track income and expenses. I can collect payments and make payments.

But, I couldn’t manage my cashflow. And Paypal isn’t a bank account. If I had a business bank account, I couldn’t manage it using Paypal. With Xero, you can see all your bank accounts and credit cards, at a glance.

I can’t create or manage budgets in Paypal. I don’t have an overview of my business’ net worth.

Is blogging a business?

Wondering how a blog is a business? I write sponsored posts, display ads, promote products through affiliate networks, and work directly with brands on reviews and giveaways. I also provide freelance services to a few other business owners.

Managing my income and expenses is important. When you are an entrepreneur, you often wear many hats: sales, marketing, customer service, creative, production, accounting, and more. I need inexpensive solutions that are easy-to-use…like Xero.

Xero integrates with hundreds of add-on business applications. From inventory management, invoicing and time tracking, there’s specialized software that’s right for your business. Try Xero today. Get a 30-day free trial. The sign up process is fast, with no credit card required.

Pay monthly. Cancel or change your plan anytime. Plans start at just $6 a month.

How Do You Earn Extra Money From Home?