There are so many reasons why having an extra income would work really well. If you are like many people who live paycheck-to-paycheck, there is rarely anything to ‘save’ unless you are very disciplined about it. It may take some real, tangible goal to motivate you to save money. However it is still true ‘you can’t get blood out of a turnip’.
You might want to save money for a ‘rainy day’ aka an emergency, where perhaps you have medical or dental co-payments, or your car breaks down. Something of this nature can really bite if you are already stretching things just to get by. Another total crisis would be losing your job suddenly and trying to piece things together to get by until you find a new position. Having money saved would make the stress of this situation so much easier.
Or maybe you are stressed about your bills and how you have really over-extended yourself with your credit cards. You will never catch up making the minimum payments and having money saved to use instead of using a credit card will be the result of paying down or even paying off your credit balance once and for all. You will experience true peace of mind if you do not have a large debt hanging over you.
Another scenario is reaching retirement age and realizing you are going to have a horrible time trying to survive on the meager social security that made your paychecks much smaller all during your career. If you do not have substantial pension and investments like most average people don’t, this is a really serious situation. You probably should start worrying about it way before it is time to retire in your 60s.
So any of these examples can also be your motivation to start a business at home to earn and save extra money BEFORE you find yourself in a crisis. It will take a few dollars to get it started up and developed and if you realize that is the reality it won’t discourage you when you wonder why you are spending money when you are trying to save it.
That’s life, however you will find particularly if you can start an online business, that the expenses are probably 1/10th or even less of what they would be if you were trying to open an office or a store (brick and mortar) and therefore the point at which you can start making a profit will be much sooner if you are really focused and take your home business seriously.
They say there is ‘no sight like hindsight’ – however in these situations it won’t do you a bit of good to realize what you should have done. The only thing that will help you is to take action NOW. Protect yourself and your future NOW.
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