Cost benefits, pros, cons of self employment

In this article, learn three cost benefits of working from home. Two are direct savings while the other is a time-saving factor, which could easily translate into saved money or increased income.

Cost benefits, pros, cons of self employment

Reasons for Leaving a Job for Self-Employment, Working from Home

Anyone pondering the transition from a traditional job to a work at home job may want to consider the impact working from home will have on a household’s bottom line. Here are several ways working from home saves money and time:

Working from home may eliminate or greatly reduce the cost of professional or business casual work clothes – Unless the individual must meet with clients, there is no real need to dress up. Some argue that business attire worn in the home work environment makes the individual feel professional, but many people don’t need that formality in order to work effectively and efficiently. Clothes from a former job could be worn when client meetings come up.

Working at home may cut down on time spent commuting – For instance, someone with a thirty-minute commute each way will effectively increase their available work hours by one hour per day by eliminating the commute. In a standard 50-week work year of five days per week, that adds up to 250 hours! That’s the equivalent of adding over six full 40-hour work weeks to a schedule. The person who works from home could simply look at that as an extra hour that could be spent doing something else.

Reduce vehicle operating and maintenance costs with a stay-at-home job – Individuals who eliminate a long commute by working from home will save money on gas and vehicle wear and tear.

Weigh Financial Factors Before Considering Work from Home Ideas

It’s important to consider non-monetary factors in the decision to leave an office job to work from home, but financial reasons can provide extra justification for someone who is looking for a reason to quit their regular job. Those who like dressing up for work, using a long commute to clear their minds, or showing off a nice car to others may not agree with any of the cost benefits of working from home mentioned above.

Home-Based Jobs – Make Money Online with Stay-at-Home Jobs

self employment

The decision to quit a job to work from home is a highly personal one. Use the points listed in this article and the article linked to above as starting points for contemplation. For those who have decided to make the transition, below are two articles that may come in handy. Learn where to make money online (through freelance writing jobs and online instructor positions).

Find Teaching Jobs Online, Education Employment – Online colleges like the University of Phoenix offer legitimate work from home opportunities for individuals with advanced degrees.

The Pros and Cons of Self Employment

The pros and cons of self employment are actually pretty great in number, and they might not even be the same for every professional who’s ever dabbled with work at home. For some, hours of working alone can be refreshing, invigorating and the perfect environment for finishing projects. For others, the sheer loneliness of self employment is a deal-breaker. What does it take to work at home?

Self Employment: The Pros

Who doesn’t want to call the shots, be the boss, make all the decisions? Sure, self employment is great for independence. But at the same time, even that could be considered a con. What are the pros of self employment, and do these positives make up for the negatives that might come with working on one’s own?

Flexible Hours. Need to be three hours late next Wednesday? No problem! Being self employed means being the one who makes the hours – and no schedule could possibly be more flexible than that.

Work Environment. Isn’t today a nice day to work in the park, in bed, in the nude? No work environment is out of reach when it comes to self employment- business attire optional.

pros, cons of self employment

Job Selection. Don’t like that particular client, the sound of that assignment, the money being offered? In self employment, it’s always an option to tell them to stick it (figuratively speaking) instead. When the professional picks the jobs, the professional can create the career they really want.

Being in Charge. There’s a lot to be said for the feeling of being in charge, which is definitely what professionals will get when they choose self employment. Being in control of one’s own life is a little bit scary, yes, but also very empowering.

Self Employment: The Cons

Self employment is not walk in the park, and there is no perfect profession. Before cashing it in and leaving the day job, explore the cons associated with work at home.

Being Alone. For many, the loneliness that comes with self employment is a pretty tough obstacle. There’s no boss to look over shoulders and make demands, but there’s no one to provide a helping hand either. Being self employed, especially in work at home, can be incredibly lonely. It might be a good idea to reach out to partners and associates to help share some of the work or even just commiserate on the ups and downs of self employment.

Job Selection. Wait! Isn’t job selection one of the pros of self employment? Sadly, this is also one of the cons. Finding jobs and work at home opportunities can be a pretty tricky business- and it’s much more tedious than enjoyable. Sometimes, the work just isn’t there; and the ones who make a living with work at home might have to tighten their budgets.

The Insecurity. Self employment doesn’t come with automatic benefits. There is no health insurance, no unemployment, no 401k and no real Plan B already in place. Any retirement planning or personal safety must be dealt with by the professional individually. Purchase life and health insurance policies, invest in some sort of retirement plan and set up a savings account for times when the jobs just aren’t available.

Weighing the Options

Do the self employment pros outweigh the self employment cons? Not everyone has the same experience with work at home, and self employment isn’t suited to everyone, either. Every individual must weigh the options for themselves, discover their own pros and cons and make a decision: is self employment worth it?