People turn to the Internet to find ways to make money from home for many different reasons and each of those people is probably in a different financial situation. But judging from the state of the economy and how much the national debt is, most likely a majority of those folks don’t have a lot of money to fall back on.
As I have said many times, 99% of the people who try to make any sort of income online fail and end up quiting. It’s hard, confusing, and there is a lot of work involved if you really want to be successful. Most don’t have the time or the drive to seriously take a run at generating a part time or full time income at home online.
It’s a bit confusing to me why this is because there are many things you can sign up for that take a small amount of time each day and can add up collectively to $100 or $200 a month or somewhere in that ballpark. Again though, I think it is the utter lack of desire and commitment that explains why people give up. Generally they are lazy and are looking for online miracles: the kind that they see being advertised all over the place.
Start Part Time First
The very best way to start making money online is by doing it part time in your free time. Keep your job and do it on the side: there is no better way. Right now it would be foolish to quit a good job to try to get something going at home. Of course, that might depend on what type of job you are quitting but if you have any sort of a decent job, you should hang on to it as long as you can.
Having a real job makes starting something like Internet marketing or anything else on the side so much easier. If you fail, you still have your job and that is something that will let you sleep easier at night. The one drawback is that with a job, you will have much less time to work when you get home. This becomes a real problem for many who are trying to hold down a job, have a family life, and start a home business at night. It is too much for many and they give up.
Work from home jobs that you create for yourself are great but there are definite drawbacks. The main one is that you are out there all alone with nothing to fall back on. It is you against the world and most of us are used to having a more structured environment. If you can’t motivate yourself day after day, don’t try working from home!
Your Own Home Business Will Mean More Taxes
If you ever are successful at breaking away from your real job and making a go at a home job, you will have made the transition to becoming self employed. Did you know that when you are self employed you have to pay both ends of the social security tax? Typically you and your employer split the 15.3% that is owed to the federal government for social security but when you break out on your own, you have to pay the whole thing. That amounts to more than 7% additional tax you have to pay than you would if you were working for an employer. That’s no joke so don’t quit your job for a work from home business if you don’t want to pay more in taxes! (to read more about social security taxes for the self employed you can read this from socialsecurity.gov)
Additionally in some states (Washington, West Virginia, Ohio) there is a B&O tax that has to be paid when you are in business for yourself or have a company. There might be taxes in other states too that I am not aware of but it shows that there is one thing you will always need to be aware of and pay: taxes.
Another note: if you do start to become successful online and still have a real job, you may still owe social security tax on what you make online if is is above a certain amount. I am not sure what that amount is but you will always owe tax on it and you may owe social security tax. So, my advice is to do some research.
No Medical Benefits
If you quit your job to work online and are out there all on your own, that means you won’t be covered by any company health care plan. Your best scenario is if your spouse works and you can get covered through their plan. But if you are single or not married, you will need to find your own coverage.
What about the universal health care Obama just pushed through you ask? Well for starters, even though we will all be taxed for it sooner, it won’t begin until 2014. Also, various states are going to be suing left and right to try to get it stopped and there is so much confusion about what it is and what it isn’t that who knows whether that can benefit someone who is self employed in any way.
Can You Separate Your Work From Your Home Life?
When you work from home, your home is your office and your office is your home. This means that you are always at the office and the urge to work can become a problem. You have to learn how to shut your work off and live your life. With a normal job this isn’t a problem as you go home for the day and leave work behind. But for those who live where they work, it can be very difficult to create clear lines of when to work and when to live.
Work from home jobs are great for many reasons. They save you time and money on the nonexistent commute, you can sleep later, you are your own boss, and you have total control over what you do and when you do it. However, this blurring of the boundaries between work and the other part of your life is what most people have a real problem with. So, if you don’t think you can be disciplined and manage your time effectively, you probably won’t be successful working at home!
The Dream Of Work From Home Jobs
In the end, working from home for yourself with some Internet marketing career is just a dream for most that will never come close to coming true. However, even if you are successful at making money online and able to quit your job, you will have a whole different set of challenges, problems, and obstacles ahead of you.
People go online by the thousands every day searching for 2nd income jobs or ways to make money from home. They are a long way away from having to deal with any of these new set of problems but if they ever do break through the scams and hype, they might find that the job they have or left behind wasn’t that bad. So, before you quit your job, think twice!