subject: Financial Recovery – Solution #5 - Home Based Business [print this page] Financial Recovery Solution #5 - Home Based Business
How do we achieve the American Dream these days? With the present economic crisis many of us are seeking alternative solutions since the corporate ladder is too often "leaning against the wrong wall". We are not only looking for the solution to our financial problems but also a way to take control over our lives.
We are often burdened with debt, worried about the future and basically just trying to get ahead. For many of us the solution is a Home Based Business.
There are many types of home businesses available. The key is to find one that you enjoy and are passionate about. From crafting, to bow making, to network marketing, home businesses offer attractive benefits part-time or full time. A Home Based Business can offer benefits that far outweigh the benefits of a conventional job.
1. Spending more time with family
Self-employment allows you the opportunity to set your own schedule and work smarter instead of just long hours, giving you the opportunity to take back ownership of your most valuable assetsyour time. Choosing your vacation time, attending the children's special school events and working your own hours are just some of the benefits of owing your home business.
2. Becoming debt free
It is sad, but most of us spend more than we earn. Charging an average of $8,400 in credit card debt and paying upwards of 18% interest we find ourselves hopelessly in debt with no seemingly way out. A small side business earning an extra $200 - $300 a month can supplement the paycheck and relieve debt burdens.
3. Enjoy Tax Benefits
Congress recognizes small business owners as building a stable base for our national economy and has passed several tax laws rewarding such individuals. There are many tax benefits for the home business owner to take advantage of. Home office renovation, home office security, business travel, and education are just a few home office deductions that are available for the small business owner.
4. Having extra spending money
With supplemental income, and getting out of debt, the home business owner can enjoy having money to play with and enjoy immediate comforts that would otherwise be unavailable. Now buying that nice car, or going on that family vacation is in reach and spending extra money on the kids or family members is a joy. The freedom that having extra spending money offers, relieves stress and adds to life's enjoyments.
5. Saving for Retirement
When financial stress is prevalent, saving for retirement is something in the future and often we are not prepared for it when it arrives. Maintaining the lifestyle we enjoy in our younger years is difficult to do if we are not prepared for the future. A home business can provide residual income that will not only allow us to maintain our lifestyle but also allow us to leave a legacy for our children and grand-children.
6. Being a stay at home mom
Two-income households are becoming necessary these days and there are more single parents carrying the financial burden of raising children. A home business allows moms to stay home with their children and still maintain financial security for their families.
If you are ready to leave the rat race and take control of your financial future, you just may want to join the millions of Americans who have decided to take control of their future by starting their own home-based business. My home-based business is fun, exciting and gives me so much pleasure. I wouldn't think of working for anyone else. After all, I have a great boss! Me!
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