Are you thinking of leaving your 9-5 and jumping into the work of home business?
The thought itself may be scary but the benefits of doing so are innumerable! Working from home offers certain liberties you will not find in an office environment.
With more and more of today’s businesses shifting to the online world, now is as good a time as any to start your own business and work from home.
Before you get started, here are some ways that working from home can make your life easier:
You Can Stay At Home With Your Kids
Perhaps one of the biggest benefits of running your own home business is not having to pay for childcare!
While you may choose to still send your children to daycare to get more work done throughout the day, this is no longer a necessity. You have the choice to keep your kids home and save money.
If you do decide to keep your kiddos home while you work, make sure you have some sort of routine set up for them and yourself.
For instance, schedule breaks so you can spend some time with your child, have a snack, etc.
Between breaks, set up some fun, independent activities that your little one can enjoy by themselves.
And, if worse comes to worst, you can always allow them a little bit of screentime so you can push through as much work as possible. Just try not to default to devices as distractions throughout the entire day.
There’s No Commute to Work or Sitting in Traffic
When you work from home, there’s no more commuting through busy morning traffic.
This means you don’t have to get up as early to get ready or you can spend more time in the morning to yourself. Ultimately, you can also start work early and finish earlier!
Not only will you be spending less time in your car but you will also be spending less on gas and putting less wear-and-tear on your vehicle.
And, if you are like most busy parents, you probably tend to hit a drive-thru on your way to work to grab a quick coffee and breakfast. Now you will have time to make these things at home and save money.
You Can Take Advantage of Tax Deductions
If you own your own home business, you can take advantage of many tax deductions that can reduce your overall tax bill.
However, there are some considerations you need to take when it comes to filing taxes for your home business:
- Remember that you are working for yourself and not necessarily earning a “paycheck”. Therefore, you are not having taxes taken out of your pay and may not receive a tax return.
- Make sure you understand what you can claim as a deduction and what you can’t. In Canada, you can refer to the CRA for this information (the IRS in the United States).
- Claiming as a self-employed individual can be complicated. It may be best, at least in your first year, to pay for an online tax service or speak to an accountant.
As you are working from home, be sure to keep track of your invoices and expenses.
You Don’t Have to Answer to a Boss
This is because you are your own boss! Being your own boss is always an incentive when working from home and running your own business.
You get to decide what hours you want to work, when you want to take time off, and the way in which you would like to run your business.
Just keep in mind that your income depends entirely upon your effort. Working from home is great because of the flexibility you have but you still have to sit down and work during the day.
Also, when you work from home, you likely don’t have vacation or holiday pay sitting around so you do have to plan ahead financially when it comes to taking time off.
And, because you are in charge and in control, it’s important to stay organized so you can increase your productivity and expand your business.
Despite these considerations, the extra work you may have to put into a home business are minor compared to the convenience of not having to answer to anyone else but yourself!
You Can Work in Your Pajamas
Other work-at-homers will tell you that it’s important to get up and get dressed even if you work at home.
This is true – getting dressed and following a morning routine will help you get into work mode and increase your productivity throughout the day.
However, on those days when you just don’t wanna, you are well within your rights to stay in your jammies and get your work done!
Who’s going to tell you that you can’t?
Work At Home Business Ideas
Nowadays, there are so many different types of businesses you can start from the comfort of your home! Here are some ideas to get you started:
Sell Homemade Products
Although consumers can run to Amazon to get a good deal on a product, many are still willing to pay a premium price for something that is unique and handmade.
This type of business really encompasses a wide variety of products. You can sell candles, crocheted items, clothing, wreaths, skincare products – anything you can make by hand!
Sell Digital Products
Not all products you can sell online need to be physical. You can start a home business by selling digital products such as printable planners, web graphics, and decorative art.
The best part about selling digital products is that it creates what is known as “passive income”. This means that you only have to make the product once and you can sell it multiple times!
Offer Online Services
Instead of producing and selling a product, you can offer a service and build up a client base.
Examples of services include freelance writing, coaching, designing, marketing, etc.
This type of at-home business requires a lot of networking and word-of-mouth advertising but it could guarantee you business over a long period of time.
Teach or Sell Courses
If you are really knowledgeable in something or have teachable skills, you can host online classes or sell online courses to help others achieve the same results you have.
Online courses are another great way to earn a passive income since you simply design them and sell them.
However, live online classes are great too because you can easily fit them into your daily schedule.
The Benefits of Working From Home
Owning your own business and working from home may sound like a dream come true.
And it is!
As long as you carefully plan your business goals and expectations, there’s no reason you can’t enjoy the perks of staying home and making money.
What kind of home business would you like to start? Let us know in the comments!
And don’t forget to share!