Making Good Personal Budget Decisions

Most families are faced with income deficiencies at some time during their life. One or more members of the family are faced with the decision of cutting spending, looking for a new job, or a source to supplement the present income.

There is a multitude of potential part time income opportunities. Many of them do not produce additional family income , they actually increase family expenses. When looking at multi-level marketing opportunities, a definite level of commitment is necessary. Many of those that enroll in a business opportunity run with a multi-level marketing format have great expectations without making a firm commitment to make it work.

If the business you are considering requires the purchase of an inventory, beware! Thousands of people have garages full of products from companies like this with little or no way to dispose of this inventory. The family budget is strained to get into the business. At that point many people start looking for part time jobs with employers just to get back to the point they were before making this mistake.

My wife and I have been associates with doTerra essential oils since company began nine years ago. My son enrolled us and we began using the essential oils for alternative medical uses and household cleaning, and personal uses. We did commit to purchase a $100 a month of product which was approximately the amount of product we would use in our family. Purchasing at that level entitled us to enroll other associates and receive a commission for those sales. We knew we would not get rich at the level we were able to pursue, but it did provide enough to pay for much of the essential oil purchase we made. My son and his wife are very successful with doTerra and work at it full time. It is a matter of the commitment a person or couple are willing to make. There are risks but there are great rewards if a person keeps a positive attitude and works hard to succeed.

Many years ago my wife and I enrolled with Amway. Amway required those wanting to make a business of it to purchase a large inventory and supply those they enrolled with product. The investment was high, the people needed a place to store the product , and the cost of driving to distribute the product reduced the income potential. We were just associates , we purchased our product from those that had the inventory in their garages. We made a small amount of income but we unwilling and unable to purchase the inventory they mandated to be successful. Also all kinds of devious ways were used to get people to watch a video about Amway in hopes they could be enrolled.

When families are faced with the mother of a family going to work to help the husband and they have children, a lot of considerations need to be made. Having two cars, the cost of fuel , the cost of child care , are costly components that may deter the benefit of the mother working. Many mothers use child care as a means of helping with the income. That option takes away the need for another car, and the child care expense.

After considering all of the additional income possibilities for your family, be sure to consider cutting your expenses so that the family can live comfortably within the current family income.

Good luck in coming to an intelligent decision on living within your family income!