1. Take a Well-Deserved Vacation
When was the last time you took a vacation? How long was it? For most people vacations are controlled by their employer. They are told when they can go and how long they can take. Wouldn’t you like to take as long a vacation as you want, when you are ready to go? When you own the business, you set the vacation schedule!
2. Spend More Time with Your Family
If you spend 40, 60 or even 80 hours a week at work, how much time are you spending with your family? How many dance recitals or parent-teacher meetings have you missed? These years of family time that you are losing can never be regained. Make the choice to own your life today, and start giving your family the love and attention that both you and they deserve.
3. Give Your Children a Stay-at-Home Parent
Life is full of tough choices. You hated the idea of taking your kids to day care instead of being home with them every day. You had to, though, just to make ends meet. Very few jobs today pay enough to let one parent stay home. When you live and work at home, you can earn as much as you need and still be there for your children. Your spouse may be able to stay home, too. You won’t miss any more of the crucial bonding years with your children. You decide how much time you need to spend working, and take the family time that you need.
4. Eliminate Debts
Part of owning your life is owning your financial situation. If you have debts, you can spend the extra money you can make paying some of them off. Get rid of those high-interest credit card payments. Pay off your car. Remove some of the stress in your life by eliminating some of your debts.
5. Pay Your Mortgage Off Quicker
A home mortgage is one of the biggest expenses most people have. Wouldn’t you like to get yours paid off sooner? Just one extra principal payment each year can take years off of your loan. Imagine what two or three could do! Imagine making an extra payment each month! Paying your mortgage off sooner can mean having to work less in your later years.
6. Earn More Money to Help Buy Your Dream Car or Home
Owning your business can mean earning more money for the things you want. Because your labor goes to make money for you instead of a corporation, you can earn more money for the hours that you work. You may want to put some of this money toward the car or home you have always wanted. That is what financial freedom is all about.
7. Enjoy Valuable Tax Savings
Saving money is the same as making more money. When you own a home-based business, part of your home becomes business space. The rooms you work in, the computer and printer you use, and your Internet service and cell phone all may become business expenses. This means they may be deductible on your taxes, saving you money! That is more money you can put to work paying off debts or taking a hard-earned vacation.
8. Save for a Rainy Day
When you work for someone else, it is hard to have extra money at the end of the month for savings. If your car broke down, could you pay to get it fixed? If your child needed braces, could you afford them? The extra money you can earn with your own business can make this possible. You can put some of that money in the bank for a rainy day. That way, when the bumps in the road of life come along, you will be ready for them.
9. Add to Your Retirement Savings
Do have enough money in the bank to retire when you are ready? Does your present job let you save enough money every month so that you can ever stop working? Jobs today rarely come with company-paid retirement plans. They make you put your money into stocks or IRAs if you want to be able to retire. That can be hard to do when you barely make enough to pay the bills. Your home-based business can give you the extra money to start building up your retirement savings now.
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