Given I have said this, there are also some personal decisions to consider; as every Business Man or Woman knows personal expenses effect the budget. This is why we are going to start from home.
One thing you can do, if you already own a property, is hold onto it. Too many people are selling off their assets out of fear, but what they don’t realize is the money they get out of that act is temporary and doesn’t provide an absolute solution to homelessness. I only put it this way, because most who sell off their assets have no other recourse to home ownership. It is almost as if their license to live was bought by someone who looked like their savoir at the time. If you are a home owner, whether you realize it or not, you are automatically an investor of Real Estate (your own property). So you need to get creative. One way you can save your investment or place of settlement (however you view it) is to reestablish the structure. By doing this, you can turn a single family home into either a duplex or a two-family home. Before jumping into this decision, you must first assess your budget. This includes your estimated annual income and all expenses. Consider how many visits you take to the doctor, the costs of repairing and maintaining your home, your taxes (property, paycheck), and the extras such as gas, cable, phone, and internet.
Depending on if you work online at all or not, if you spend most of your time watching Lost, and how much driving around you need to do. Which of these costs seems the most frivolous out of the three? If you can answer this question, you have saved yourself $359.88 for the first year of cable at $29.99 a month +a possible $599.88 every month after should your cable company raise it to $49.99 a month (which most do). When you evaluate what is essential and what is not for the health of your budget, you will be amazed that a collective $959.76 can be pooled toward hiring a professional to convert your single family into a two-family or duplex to rent out. The key here is additional income and monetizing what you already have rather than foolishly pawning it off.
Ask yourself if what you live every day can be monetized. If it is writing, you’re already on a revenue sharing model that awards those who are willing to give helpful advice. If you breathe, eat, and sleep worrying about your home, read over the steps above. They may not answer all problems, but they are a ways of getting a good start at keeping your livelihood. If your passion is video games or electronics, there are so many affiliate programs you can earn a great commission off of just from building relationships with major companies and re-selling their products. Now is the time to think big. Instead of letting technology entertain you, let it educate you. There are so many possibilities now than ever to build multiple streams of income and get your life back in any economy.
Thanks for reading.