redips: Jun 10, 2008

FACT: We spend a portion of our income every minute of every day. Even when we are at home sleeping, we are spending on the place we are sleeping and the utilities to make that place comfortable. If we have debt, then we are spending every minute on interest to carry that debt. The question then becomes How much income do we REALLY need?

Finding the EXACT answer to that question is the missing ingredient to achieving financial freedom. Estimating the amount we need is dangerous, as we usually under-estimate. Its easy to forget the small bits of money that constantly leave our hands and is never added up. A mis-estimation of how much we need to make is the amount that usually ends up on credit card debt.

The way to discover the exact level of income you need is best done by figuring out what you are actually spending on a weekly basis, and exactly where that money is going. Take out your checkbook and credit card statements and start making a list, by type of expense, of each dollar you spent during the past 12 months.

The more detailed the types of expenses are, the better. Rather than a general expense called Entertainment? list out what that entertainment was: movies, popcorn & drinks, Disney World tickets, souvenirs, dining out, pizza delivery, coffee at Starbucks, golf fees, video rentals, event tickets, music CDs, and parties.

Divide the total of each type of expense by 52 weeks and youll have what you spend each week on that expense. Add those up and youll know EXACTLY how much income you need each week to fund those combined expenses. That becomes your budget: the MINIMUM level of weekly income you need just to pay for what you are spending now. When you know exactly how much you need each week, it raises the necessity to work out how you are going to get in that level of income right now.

Take a look at the immigrants who left their homes, their country and whatever meager assets they had, to start a new life in the United States. They knew they needed substantially more income to guarantee their long-term survival. Their necessity was high enough to take that courageous step of moving to a country without a job, with no place to sleep and not even knowing the language in most cases. They were willing to do whatever it took to better themselves financially. Many said those immigrants would amount to nothing. Now those immigrants own the vast majority of the land, the buildings, and the businesses in the United States.

It works the same way for an individual, a family, or a business. To be effective, planning out the actions of how to raise your income must start with the ingredient of knowing exactly how much income you need each week to survive, and how much more income needs to be made to gain your financial freedom.

Sandra Simmons, President of Money Management Solutions has years of experience helping business owners and individuals manage their money to reach their financial goals. Find out how you score in managing your money using the FREE Money Management ScoreTM analysis tool.

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The working world is getting more and more competitive with employers forever asking for higher qualifications and greater workload. Some of you out there hated this like kind of life but is resigned to fate, with no knowledge or resources to start your own business. Some of you have opted to start your own business but its didn't turn out so well and you got further in debt.

This cycle is what I term "rat race". Rat race is a term used for an endless, self-defeating or pointless pursuit as it conjures up the image of the futile efforts of a rat trying to escape whilst running around a maze or in a wheel. When used as an analogy to our modern life, you can see it as many rats in a single maze run around making a lot of noise bumping into each other, but ultimately achieving nothing meaningful or useful.

Now you might be wondering, "So what's working at home got to do with all these?" It related because working at home can be the way out of the rat race and to more time with families and friends.

Yes you heard me right, in fact the benefits of working at home far outweighs working outside and you will hit yourself for not realizing what's you have been missing out.

Here are the work at home benefit and why you should consider it seriously.

1. To gain personal freedom. The most enticing benefit of working at home is the opportunities it provides to gain control over your own life. There are no bosses to follow, no corporate rules or standard to adhere to and no rigid work schedules or time. You have the freedom to choose to do what, when and how you want it. Of course having so much freedom at hand has a potential drawback of not wanting to work at all or wasting time at home aimlessly, hence as a home-based entrepreneur you got to have discipline and proper time management.

2. To reap financial benefits. The financial benefits of working at home are equally if not more attractive than the working world and this is the main point. There are various source where you can earn an income if you know how to go about doing it. To name a few, affiliate marketing or online investment are very profitable if one does well in it. Furthermore, staying at home also save you tons of expenses which you otherwise have to spend, expenses such as transport clothes, etc. Your earning potential is directly proportional to your performance, how much you earn is equal to how much effort you put in, there's no need to wait for a pay rise that never comes. Most importantly, anyone can work at home, be it young or old there's no age or education limit.

3. To be with the family. Many opt to start their business from their homes to strengthen family relationships. A home business allows you greater freedom and control of your time. Husband and wife can help in each others work, while children have the opportunity to see what their parents do for a living. Parents especially, have the important benefits of working yet being able to take care of their children.

4. To reduce stress. Since you work alone, there is no office politics to deal with or deadlines to met. This reduces all the unnecessary stress that come with the working life as you only need to follow the deadlines and schedules that you yourself set.

5. For job enrichment. This is personal development at hand as you can take up any job or venture into anything you like. Your not restricted to a job scope anymore and you can be an expert on anything. You will discover talents and skills that you thought you never had and achieve your goals more easily.

6. To increase productivity. Many home-based entrepreneurs find that working at home helps them to be more productive, because your working for your own business - wherein the amount of financial compensation depends on your own productivity and business management, you will be more enthusiastic and passionate to work for yourself. Many get so caught up in what they're doing that it's actually hard for them to stop.

Given these benefits and more to come, its not surprising that people are recognizing the benefits of working from their homes, coupled by the need to be independent and the drive to succeed, many will soon join this growing movement. You can be part of them now and you don't even have to risk quitting your job, just take up these program as a side-job and you will see its earning potential and benefit.

Sick & Tired Of Slogging Day and Night Just For Your Peanut Pay? Sign With The Top Affiliate Programs Now

redips

Tuesday, June 10, 2008

Gaining Financial Freedom (Part 2) The Missing Ingredient

Work At Home Benefit - 6 Benefits For Being A Home Based Business Entrepreneur

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