Why did you start your home business? Did you start your home business to generate additional income right now, build a business for the future or both?
There are many reasons why people start a home business, but for most people it a way to generate some additional income to support their current lifestyle.
In a recent survey done by Betterment.com, they found most respondents who were supplementing their
traditional nine-to-five with gig work tend to be in the worst financial shape.
- 72% are working to pay off debt:
- 42% are paying off credit card debt
- 33% are paying off student loan debt
- 16% have more than $50,000 in debt, excluding mortgages
63% are working in order to make a payment on something specific:
- 26%: Tuition
- 24%: Medical bills
- 23%: Car repairs
- 17%: Home or appliance repairs
In this video I also talked about:
- The power of being clear as to why you started your business.
- How this information can help you reach your home business goals.
So, why did you start your home business? Let me know in the comments below.