5 Reasons to Recession Proof Your Income With a Home Based Business

As we descend deeper into this dip in our economy, we find our portfolios shrinking, our paychecks dwindling, unemployment rising, and disposable income disappearing. Due to job losses many two-paycheck families are down to one paycheck and maybe an unemployment or part-time job check. As we head into the holidays our children are affected by our lackluster approach to the holidays, and our fears of what the New year will bring.

There is a way to approach the season with anticipation rather than hesitation. Here are my five tips to recession proof your income this year:

  1. You can Lower Your Tax Debt Or Increase Your Refund – By owning your own home business you are eligible for tax breaks and incentives not available to an employee.
  2. You Can Help Yourself By Helping Others – As a home based business owner you are in a position to offer those hardest hit by the recession something that they need – a hand up as opposed to a handout. A Home Based business requires only a small investment and with a little hard work can be profitable almost immediately, so someone who is out of work but has a small severance package or an unemployment check, can invest in a home based business and start generating an income for their family!
  3. You Will Be Able To Create Residual Income – That’s income that grows over time based on work that you do only once. This is recession proof income that won’t be affected by the stock market, the world market, or the job market. It’s what you earn , as some in the business so eloquently state “before your feet hit the floor every morning”.
  4. You Can Determine What You Are Worth – instead of an employer telling you what they are willing to pay you, you can determine what you want to earn each month and how hard you are willing to work to make it.
  5. You Can Improve the Quality of Your Children’s Lives -Our children want more than great presents at Christmas, they want quality time with their parents! Why do we have them and then turn them over to day care centers, babysitters and the school system? A home based business allows you to be there for your children whether it’s breakfast before school, chaperoning school trips, helping with homework, or coaching their little league team. You can shape your kids lives through active participation in their lives.

If you are employed but don’t feel “safe” or are under paid and considering a second job, a home based business is a better Plan B. Why? Because a second job means more time spent working and less time spent living. It means more income to be taxed by the IRS without the numerous deductions provided by a home based business. It also means less family time and more time away from the place that you are trying to take care of – HOME

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14 thoughts on “5 Reasons to Recession Proof Your Income With a Home Based Business

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