Running your own business from home can be incredibly rewarding. You set your own schedule, work on your passion, and enjoy a level of freedom that a traditional 9-to-5 job rarely offers. However, this freedom can also come with risk—especially when income suddenly stops flowing in. Whether due to a market downturn, loss of clients, or global crises, many entrepreneurs face periods where their business simply doesn't make money. So, what should you do when this happens? How can you survive financially and emotionally in such difficult times? 1. Don’t Panic—Assess the Situation Calmly The first reaction might be panic, fear, or hopelessness. Take a deep breath. Try to analyze what has changed. Is it a temporary slowdown, or are there deeper issues at play? Understanding the root cause is the first step toward finding a solution. 2. Cut Non-Essential Expenses Look at your personal and business expenses. Are there subscriptions, services, or habits you can pause or cut? Creatin...
Finding Your Financial Freedom Number: How to Calculate the Amount You Need to Live the Life You Want
Finding Your Financial Freedom Number: How to Calculate the Amount You Need to Live the Life You Want Financial freedom means having enough money to live the life you want, without having to worry about finances. It's a goal that many people aspire to, but few know how to achieve. One key step in the journey towards financial freedom is to determine your financial freedom number - the amount of money you need to live the life you want. In this article, we'll explore what a financial freedom number is, how to calculate it, and how to use it to achieve your financial goals. What is a Financial Freedom Number? Your financial freedom number is the amount of money you need to cover all your living expenses, and any discretionary spending you want to do, without having to rely on a job or a traditional source of income. It's the amount of money that would allow you to retire comfortably, travel the world, start your own business, or pursue any o...