Have you ever questioned yourself why you need to live within your means? Have most financial planner and institution talked about how you should live with the word "budget" in mind? Are you being paid hourly or a salary that you receive every 2 weeks or monthly? Than you are definitely not alone.
Most people in the U.S. work as an employee or as self-employed individual. Whether government entities, huge corporations, private businesses, or the service sectors, we almost have to wait days, weeks, and months in order for us to get paid. The word "Budget" thus become an important part of our vocabulary as we go through our everyday life. Now imagine your world where you are receiving a check, bank credit, or cash money at the end of the day, everyday, that is equivalent to what you would normally receive with a paycheck at the end of 2 weeks. Also imagine if this income everyday that you receive grows, and grows as time passes on. Now you may ask youself, is this really possible?
I would say to you "Yes" this is possible, but it generally would not involve a person being an employee, salary, or self-employed. Now there are exceptions such as rich salaried positions such as a CEO of a multi-million dollar company, or highly paid athletes such as Lebron James. You get my drift right? Most middle-class Americans will probably not fall into this highly paid positions. Getting back, how do we attain getting paid everyday like the rich does?
By starting your own business.
You may ask, What if I fail? Isn't starting a business risky and expensive? I would say to this it depends. A start-up lawn cutting business require more time than money and you may get paid everyday on it. You may start-up your own franchise business which requires royalties, initial buy-in, and monthly dues that tend to be quite expensive. So, It does vary depending on the startup business you have your eye on. You may also join a direct business models such as MLM (Multi-Level Marketing) and receive business skills and guidance from members. This form of business require buy-in memberships with product to sell thereafter. Again, whatever you decide on, decide on something atleast.
Why do we need to start our own business? I'll give you a few 5 good reasons.
- Time: After a few short years growing your own business, you can buy your own time to spend with whatever you decide to spend it on.
- Control: Boss, Managers, Supervisors will be a thing of the past. Sorry, IRS is still on your back even as business owners. However, many tax benefits are enjoyed by the rich not seen by middle class americans.
- Money: Getting paid everyday beats getting paid once a week, every 2 weeks, monthly, or even yearly.
- Inflation: As Inflation keeps going up, prices of goods follow. With today's economy, salary hourly wages, and comissions keeps going down, thust inflation affects our dollar spending capacity.
- No more "budget": What!! is this real!! No sorry, the rich still do have a budget in mind. however, I would assume it looks much different from yours and mine. Their budget possibly does not necessarily deal with the everyday "house budget" rather they deal with business operational, asset, liability budget. So in essence, yeah!.. no more focus on "house budget."
- Experience: Once you taste earning income everyday, you will never go back to your old job and career no matter what the setback you will experience with owning your own business.
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