7 (Simple!) Steps to Reduce Household Expenses and Afford to Work From Home

7 (Simple!) Steps to Reduce Household Expenses and Afford to Work From Home

If you think you can’t afford to quit your day job or don’t have the funds to launch a home based business, think again. It may seem like finding the money to start a business of your own is impossible but, if you take a minute to break down your finances (and are willing to cut back a little) launching a home based business might not necessarily be out of your reach.

1. Mortgage: With interest rates so low, it may be time to refinance your mortgage. A lower interest rate could save you several hundred dollars each month.

2. Tax Deductions: Did you know that a portion of your home’s expenses are tax deductible if you’re operating a business from home?

3. Car: If you decide to work from home, you may be able to live with one car which is a significant savings on not only your monthly car payment but gas and insurance.

4. Childcare: Full time childcare may not be necessary if one parent is working from home.

5. Tax Bracket: If you’re a two income family and reduce to one income, your tax bracket may be lowered significantly which translates to more take home pay.

6. Commuting: If you work outside of the home and take public transportation to work every day, take into account how much money you currently spend on your monthly commute.

7. Daily Expenses: Many minor expenses like a work wardrobe, dry cleaning and dining out will be significantly reduced when you work from home which will save several hundred (if not thousand) dollars each month.

Launching a business takes discipline, sacrifice and creativity and the first place to put these skills to work is by revamping your finances to find the funds you need for your business start-up. Take a hard look at your family budget and it may open your eyes to how small the gap is between your current income and what you will need to earn working for yourself!

Spot Pyramid Schemes Before You Sign Up

Spot Pyramid Schemes Before You Sign Up


If you’ve ever been told that you could make easy money and it sounds too good to be true, it probably is. Pyramid schemes often sound like enticing business deals, but fraudsters may use this “business model” – to take advantage of you. Before you invest your time and money, it’s important to ask good questions and do some research on the company.


Here are some typical characteristics of a pyramid scheme:

  • Emphasis on recruiting
  • No genuine product or service is sold
  • Promises of high returns in a short period of time
  • Easy money or “passive income” (money you earn without doing anything)
  • No demonstrated revenue from retail sales

Find more information on identifying pyramid schemes and how to protect yourself at investor.gov. This information is also available in Spanish.

What’s Holding You Back?  5 (Bad!) Excuses For Not Starting A Home Based Business

What’s Holding You Back? 5 (Bad!) Excuses For Not Starting A Home Based Business

Starting a home based business can be scary.  And, it’s not uncommon to come up with excuses that keep you from pursuing your dream of working from home.  (I know because I had a long list of them when I started my home based business!)




  1. I don’t have the money. Is there ever a time when you have enough money?  Most home based businesses start on a shoestring budget and grow from there.  Consider the money it costs to launch a home business as an investment in yourself and your future.  (And by the way, did you know that business expenses are tax deductible?)



  1. I don’t have the time. As the saying goes…Want something done?  Give it to a busy person.  Most people launch Homeowner Referral Network (HRN) businesses while still working a full time job.  (I launched my HRN with a newborn at home!).  If you really examine your day, you can carve out a few hours to get something started, especially if you love it!



  1. There’s too much competition already. Do McDonald’s and Burger King operate in the same market? The answer is yes!  And, as far as the HRN business goes, online lead generation companies and national referral services pose no competition at all.  If you have a proven business model and offer local, personalized and a professional service, you’ll succeed.  That’s why the HRN business has lasted for the past 19 years!



  1. I can’t take the risk. I know one thing for sure….if you don’t try, you’ll regret it.   When you look back at your life one year from now, ask yourself “Do I want to be in the same position as I am today?”  You can either let your fear of risk hold you back or use it as fuel to do whatever it takes to succeed.



  1. I’ll be embarrassed if I fail. Join the club.  Failing in public can be embarrassing.  (Personally, I didn’t want to tell anyone about my business when I first started because I was so afraid of failure!)  But, what I’ve learned is that you’ll be surprised at the number of people who will respect you for taking a shot.


And more importantly, you’ll respect yourself.

How to Finance Your Home Based Business

How to Finance Your Home Based Business

Financing tends to be one of the biggest challenges for people who want to launch a home based business.  Even if you expect your start-up and monthly operating expenses to be minimal, finding the money you need may still be a challenge.

If a traditional business loan isn’t an option, you might want to consider some simpler financing options:

Take a look at your assets. If you own things, you can sell them. Jewelry, rugs, antiques, time-shares or second properties are just a few examples.

What about your car?  If you drive a nice, late-model car, you can sell it and lease a less expensive one without a down payment. This might net you $15,000 to $20,000 and leave you with a small monthly lease payment.

Borrow against your home.  If you have established equity in your home, it should be very easy borrow against it.   Keep in mind though that once the loan kicks in, you’ll have monthly payments. Or, you may want to consider refinancing your mortgage with a new one.

Friends and family.  Friends and family may be willing to support your business start-up. If you do chose this option for financing, be sure to put your agreement in writing so that it’s official and there isn’t any miscommunication about the terms of your relationship.

Borrow Against Your Investments.  If you plan to continue working full-time while you start your business, consider borrowing against your 401(k) retirement plan.

Consider a low or no interest credit card.  Credit cards are a quick and easy method of funding your start-up and can help build business credit at the same time.  You can start with deferred payments or a minimum monthly payment until your business starts to generate income.

Regardless of the financing option you chose, be responsible and keep your financial security at the forefront of your mind.  If you’re determined to succeed at your new home business venture, investing in yourself is the way to go!

Don’t Let Money Hold You Back from Launching a Home Based Business!

Don’t Let Money Hold You Back from Launching a Home Based Business!

Many people use lack of funds as an excuse for not launching a home based business. The truth is, multi-million dollar companies have been launched on a shoestring budget.  More than capital, new business owners need passion.  They need to believe in the need for their product or service and believe in themselves.


I’m living proof.  I launched my Homeowner Referral Network (HRN) business from my basement with a $5000 loan, a refurbished fax machine and a computer.   From that humble start, it’s grown into a cottage industry nationwide.  I had no home improvement experience when I started and only about 15 hours/week to devote to my business but in less than 6 months I was able to repay my loan and turned a profit!


I know “first hand” how hard it is to launch a new business but the good news is that I’ve documented all of the “how to’s” of launching a contractor referral business so that you have a comprehensive road map to follow and don’t have to start from scratch like I did.


And, because I know how difficult it is to find capital to start a new business, I offer 0% financing and flexible payment plans to help you get started.

So, what are you waiting for?

Don’t let lack of funds hold you back from launching the business of your dreams.  If you believe that there’s a need for a contractor referral business in your area and have the drive and passion to run a home based business, let’s get started making your dream a reality!


Contact me today for more information about 0% financing options.