Living on borrowed money is not a good way to live. It is like selling your future and makes it harder to live a good life. It also has a profound effect on providing for yourself and family.
However borrowing money is not bad and in fact can be quite the opposite as businesses, products and even countries are formed from money being borrowed by entrepreneurs and financially savvy people who have a dream.
So what is living of borrowed money / time? Well it is living of credit, maybe credit cards, loans or borrowing off family and friends to consistently get by or survive. It is using the funds on daily and weekly living expenses maybe food, going out and about possibly to watch films at the cinema, go for a drink down the PUB or club, purchase toys for yourself or children (keeping up with the Joneses).
Using money like this is a lack of financial knowledge, poor discipline and a trap which more and more people find are experiencing as the economy has taken a turn for the worse over the last few years. This is due to the bank themselves lending out money to people who cannot pay them back and the money they lent out was also borrowed!
This is part of the reason more and more people are realising they need to look after themselves as the UK and most of the World economies goes further and further into depression they are realising that they cannot rely on their jobs or government. They themselves have to support their family.
Additionally, retirement funds and pensions are not what they should be if anything at all this is where and why so many are turning to starting their own businesses and 95% are online which is where people like myself and other business coaches can help offering training and platforms to people to learn and build skills so that they in turn can run a successful home based business which can be relatively cost effective to set up.
There are many automated businesses which you can join. At the same time, for many it can be confusing to find one for you so this is where a little due diligence is required. Common sense plays a significant part in choosing the right home business. My suggestion here would be to spend some time researching and make a note of possible business opportunities, coaches and evaluate what Information you get and then weigh up what sounds best for you.
When researching on the web you will see things like cars, lifestyles and bank accounts proving what some people are earning which is great if they are doing well and we all want that when we first start out but one of the biggest things is to do the due diligence about the person you potentially will be working. This person could become your sponsor, business coach or mentor. If they give you a good feeling and you build rapport with them then the likelihood is that you will partner with them.
Choosing the person you will be working with is important. However, this is not the end all or be all as you need to be prepared to work hard and be teachable. MOST businesses and systems out their do work it is the people who join that generally do not!!! << You might want to read that last sentence again>>
Yes you will always find some bad review about a product or business opportunity purely because someone started it by paying money and expected to become rich over night but the fact is you need to be willing to work at it and take time to master some skills but if you are willing to spend some time learning them skills you will find it is not as hard as you may think.
This is why so many people use the systems and make a lot of money with them coupled with persistence
Remember to be patient and realistic about what you want to achieve but also be pro active as there is a HUGE difference between patience and laziness and making things happen! It is easy to get overwhelmed and do nothing after the initial excitement of starting your own Internet business.