Earned Income is your hourly pay or salary from a job. Business income is where you receive profits or a share of the profits from a company that you are owner or part-owner of.
I'm assuming MOST people do have some kind of job. And if you're here, then you're either looking to supplement your current income, or make a life change to see what other ways there are to make money besides a "9 to 5" job. The rest of my site covers all the various streams of income that I believe there are, but this particular page will be devoted to what you would need to do to smoothly transition from a hour/salary job to a home-based business or business of your own ...
Want to quit your 9-5 job?
Woah, woah, woah! Not so fast. There could be a multitude of reasons someone would want to quit their job and just start an online business or sell products on Etsy or Ebay. And sure, there ARE ways to do that and be successful at it (and YES, I'll cover how to do that in my website), but you MAAAY want to make sure you have a financial cushion FIRST, before you 'throw in the towel'!
There are a few "steps" you might want to consider before quitting your job and like I like to say on my site, "Make your Money Work FOR you!"
So, in summary, I would suggest - DON'T quit your "day job" (or night job) just yet. Use your time and income now to pay down unnecessary debts and accumulate some kind of financial cushion, so that when you do move on to something else, you'll have some peace of mind that you will be ok when your business is just getting started.
In fact, I think that once you start reducing your debt, and maybe even kick off your home-based business WHILE you're still working, you may find that you are happier because you know you have already started the path to another new lifestyle!
Earned income can fund your other streams of passive income. Learn how to leverage the internet to make money online, passively, by taking courses and watching video tutorials. This can be something like "good debt" that subsidizes your education in personal finance!
Content on entire website is of opinion only and for EDUCATIONAL PURPOSES ONLY and not intended as financial advice or trading advice. We/I are not financial advisors. Please consult your financial advisor for advice. All investment strategies and investments involve risk of 100% loss. Nothing contained in this website should be construed as investment advice. Any reference to an investment's past or potential performance is not, and should not be construed as, a recommendation or as a guarantee of any specific outcome or profit.
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