Many families today rely on two incomes to pay their bills not being able to make ends meet month to month. They face several options to secure that extra income they need, one being obtaining a part-time job and the other a home-based business. It’s a decision with advantages and disadvantages to each. I want to provide some suggestions to help you make the right choice.

When deciding between a standard second job and a home-based business, it is important to consider the expenses incurred in both. For those considering a second job, many do not take into account the numerous extra expenses that go along with childcare, clothing, gas, etc. Crown Financial Ministries offers a worksheet online (http://www.crown.org/Tools/mommake.asp) to help you determine how much you will actually make once these expenses are deducted from your income. By breaking it down and seeing the guideline, you can see just how much extra you really bring home each week.

A home-based business also incurs expenses, but most of your business related expenses will be at least partially tax deductible. The IRS looks favorably on home-based businesses. The more money that you save with legitimate tax deductions, the more finances you’ll have to increase the size of your business. This in turn creates more revenue for the IRS.

A home-based business can also offer flexibility that a second job cannot. You can work from the comfort of your home – often in your pajamas if you choose. You can work the days you want and the hours you need. Your schedule is up to you! For example, Diana Ennen, author 'Virtual Assistant the Series, Become a Highly Successful, Sought After VA', states, “I enjoy the flexibility my home-based business provides. You can easily wake up at 5:30 a.m. to work or work until 2:00 a.m. whatever fits your personality. Many people enjoy it because they can start work after they have put the kids the bed and work a couple hours and earn extra money without having to hire a babysitter. Plus, it's all in the comfort of your own home. No costs on dry-cleaning, travel to work, gas expenses, etc., and you can't beat the one minute commute to the office!”

Allowing your family to be a part of the business is another benefit that not many jobs can compete with and thus another positive benefit to home-based businesses. Depending on the type of home-based business you choose, there may be small jobs that your children can assist with in the daily operations. These include: Helping prepare your mailings, preparing packages if you have a direct mail company, or even answering the phone - depending on their age. Your spouse can also be a part of your business and may be able to help run the business when you are not able to be at home.

Helping others be successful working from home is another great perk of being a part of a home-based business. Most home-based businesses allow you to build a team of people to work along side you. Finding other people that are interested in owning a business and then helping them succeed is satisfying and can be financially rewarding as well.

There are, of course, negative aspects about working from home. The success of your business depends solely on you. You need to be determined, efficient and organized to be successful. You must take the time to work at the business or you will not see the additional income that you desire. It can be very easy to let your business slide when you are tired or feeling discouraged. However, if you are aware of these temptations, you can create a plan to overcome them when they arise.

The benefits of a home-based business can many times override the work and time you must devote. When compared to the expenses occurred by taking a second job it is a great alternative. Because of the tax breaks when operating a home-based business, it is many times a more profitable option. You may not make a million, but it may allow you the freedom and income that you need to make life a little easier. Even with the disadvantages, many who work-at-home wouldn’t have it any other way. I hope this helps you make the right decision for you and your family.

Jill Hart is the founder of Christian Work at Home Moms, CWAHM.com. She graduated from Grace University with a Bachelor's Degree in Human Development and Family Studies/Bible. Jill has worked from since 2000 and started her own home-based business to assist other Christians who desire to work from home while maintaining a godly life.

• 0 Comments

  

Comments

 Add your own comments

Name:

Email Address:

URL:
Remember Me? YesNo

Comments: (you may use HTML tags for style)

What next?

 Digg it

 Save This Page

 Subscribe to GetEntrepreneurial.com

 Leave a comment

Next Article: Franchisor Support: What can you expect from your franchisor? »

Previous Article: Improving Customer Service & Customer Retention Levels »

Jill Hart is a GE Network Expert. View Jill Hart's profile or read more articles from Jill Hart. Learn more about the GE Experts Network.

Have an expert opinion on issues entrepreneurs and small business owners face everyday? Join the GetEntrepreneurial.com Experts Network and share your expertise with the community!

The new GE Experts Network is inviting seasoned entrepreneurs and small business owners to come on board and contribute small business advice to our community of aspiring entrepreneurs. If you have an effective way of generating sales or you know how to use social networking to connect with your customers, join us in providing wider entrepreneurial content that would benefit small business owners worldwide.

Click Here to Learn More >>

Related Articles

 Green Liquids to Make Your House Clean » Trendwatching: In an ECO-ICONIC world, visibility counts, for big and small products alike. Which, in the case of cleaning products, means exposure will...

 Lava Lamp Shot Glasses » CoolBuzz: They say after you have had your fill of booze, you might just end up seeing stars. But here's an innovative idea...

 Shirt History » CoolHunting: Re-Shirt is an Austrian-based company that resells second-hand t-shirts. What sets them apart from other online boutiques is that every shirt comes...

 Urban Mining » A recent Reuters wire story (picked up here in the International Herald Tribune) describes the new trend of "urban mining" - of...

Need more brand new promising business ideas and innovations around the world you wish you'd thought of? Visit CoolBusinessIdeas.com now!

Ever wanted to be the CEO of your very own Starbucks or Amazon.com? Fire your boss and be your own boss? Now you can, with BIZNESS! - the free biweekly business newsletter about new business ideas, opportunities and innovations from around the world. More than just new business trends, BIZNESS! helps the aspiring entrepreneur (you!) with small business advice, business tips, and entrepreneur resources and opportunities.

   Subscribe for free now!    

---