"The U.S. Federal Deficit is when government spending is greater than revenue received for that year. In Fiscal Year 2011, the budget deficit will be $1.267 trillion. The FY 2010 deficit was $1.57 trillion."
What does this mean? What happens if you are a federal worker? What should you do now?
The reason workers get a pay increase normally is to keep up with inflation. Prices go up, in order for workers to be able to maintain the same standard of living they get a raise. For the next 2 years prices will go up, but these workers will not be able to maintain their standard of living. In essence they will be poorer. While some may argue in that federal government employees are paid more than the private sector when you factor in benefits, retirement and other compensation this doesn't help that individual that has created their standard of living based on those earnings.
As one always looking on the bright side at least Obama didn't announce a 10% pay decrease or something like that. But still in the next 2 years living will get harder for millions of Americans. If you are a federal worker you will see over time your dollar get smaller and smaller as the prices go up. Food, clothing, fuel, health care, education are just a few things you will begin to notice.
Our deficit does need to come down substantially there is no doubt about it. What I would recommend for you if you are a federal employee, or any employee that would like to see their income increase in the next 3-5 years would be to look at starting a Part-Time Home Based Business.
Now is the time to act, don't wait until your standard of living goes down and you don't have to money to pay those bills. Look toward the future for yourself and your family by taking steps now to secure a secondary form of income. Start now doing your research and help jump start your future.
There are some serious advantages to starting a home based business. These are the reasons I saw when I started my business over 10 years ago.
- Residual Income
- Tax advantages
- Work from home (or anywhere for that matter)
- No territories
- Can move with you easily (I was a military spouse and we moved often)
- Build relationships for the long term (many new friends and business parterners over the years)
- Have an asset that you can leave to your family, this business will continue to pay you even after you die.
- Increase your standard of living even in a down economy
If you are reading this, maybe it's time you start to take action. Start doing your research to find what kind of business might be best suited for you. Maybe you would like to even work with me, Michael Sparks, Entrepreneur and business owner. I recommend doing some preplanned research before just jumping into any one business. I've seen many home business owners go from company to company seeking that "perfect opportunity".
I recommend purchasing some books like The New Professionals by Charles King and James Robinson. This book breaks down what MLM, and Network Market are and how it has gone from a often negative connotation to something that people see see as a legitimate opportunity to work from home. It's a must read for anyone who is on the fence considering a career in network marketing. The writing on the wall is clear; our profession has enabled masses of people to gain time freedom, financial freedom and a perfect meld of home, business and personal values.
I have read this book several times and each time it cements in my mind that our industy (direct sales) is a great way for someone to reach higher goals with little downside risk. In an economy like the one we are living in, now is not the time to take drastic measures, but to look at opportunities that over time will improve yourself and your future earnings potential. With a good home based business you could for less than $500 invested start earning a commission that will continue to increase month after month.
The business of the 21st Century by Robert Kiyosaki is another excellent book highlighting the benefits of starting a home based business. I like the fact that both Robert Kiyosaki as well as Charles King were negative about MLM or home based business when they first saw it, but after taking a serious look at what MLM is really all about and how it offers someone the ability to start small and finish big if they so choose.
Once you decide to get started, be prepared to commit to working your business at least 3-5 years if your desire is to gain real traction and income. It is possible to earn several hundred dollars per month in a short amount of time, but for real long term income it will take some effort and time on your part. It is also a good idea to find a mentor (or sponsor) that will help guide you through the process to help you avoid the pitfalls that are sure to crop up. I know people that have lost thousands of dollars either doing the wrong program or trying things that do not work. Myself, I have always earned a positive cash flow starting in the very first year. My commissions have paid for my business over and over again. Now after 10 years we are full time and growing year after year. This is a true testament to how our business can provide you and your family a positive and rewarding secondary income.
With the tough choices our country will have to make in the coming years. Starting a home based business is just a part of a safety net that you and your family could employ to help weather the coming storm.
Feel free to contact me, Michael Sparks for comment, advice or information on starting your own home business. Don't wait until it's too late.
To Your Success,
Michael Sparks--Entrepreneur
www.michaelsparks.us
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