Just over two years ago, when my husband was presenting all the “perks” of owning his own business, the idea of having more time as a family really appealed to me.  It was probably the biggest selling point my husband could present.  I don’t believe that either of us were prepared, however, for sharing our family time!

Yes, I admit, we do spend more time together as a family.  But very rarely do we do anything or go anywhere without my husband’s phone ringing.  Nine times out of ten, it’s a business call that he “has to take”.  At restaurants, movies, the park, family gatherings…EVERY CALL COUNTS. 

One evening had been particularly rough, and the two of us were just sitting down to watch some of the many shows we’d recorded on DVR.  About 15 minutes into our first show, at around 11:30pm, his phone rang.  To say I was irritated is putting it mildly.  He answered to find a very intoxicated man requesting a quote for a windshield replacement.  Being the good businessman that he is, he looked up the part and price, and gave the man a quote.  The man scheduled the job for the next day.  My husband called me after doing the job to inform me that he had met his first customer who actually jumped up and down with excitement about having his windshield replaced!  Yes…he was still drunk.  But he was a happy customer, and we made money we wouldn’t have made if Patrick hadn’t answered that call.  EVERY CALL COUNTS!

I am constantly reminding myself that the decision “we” made (in quotes because I only take responsibility for it when it’s good!) to become business owners requires us to be on call all the time.  If we miss a call, the next glass company may get that job.  And in this economy, we can’t afford that! 

This is why Patrick carried his phone into the ocean this past June…he was waiting for a call.  The call came, but several hours later when the phone was being eaten alive by the salt water after the largest wave EVER struck my husband…and his shirt pocket (where the phone was nice and safely waiting).  By the time Patrick could get back in touch with the caller, all eight jobs had been contracted out to another company.  EVERY CALL COUNTS!

So, do we enjoy our added family time…YES.  Do we like sharing it with strangers?  Not really!!!  But we have learned rather quickly that owning our own business is not an eight to five gig!  It’s all day, every day.  The key is learning to appreciate what it means.  Our business is growing.  We’re making more money.  We’re a step closer to reaching our goals.  We’re succeeding!

Photo by Mykl Roventine via Flickr Creative Commons.

Last night President Barack Obama offered his first State of the Union Address. One of the main issues addressed in the speech was employment. The jobs situation remains precarious, and the President wants to show that he is listening to the concerns of the people. As a result, it is little surprise that he offered some plans to encourage increased job creation, including a plan for tax breaks for companies willing to hire more workers.

In addition to addressing employment, the President also stressed the need to develop alternative energy technologies. He also talked of education reform, health care reform and financial regulatory reform. He also made sure to take responsibility for his mistakes, as well as point out that some things couldn’t be avoided, and that there is still a ways to go.

In the end, it will be interesting see whether any of his ideas can be put into play. While the President does have some influence over the direction of some policies, the bottom line is that actual legislation is in the hands of others.

Many people who make money from home are looking toward 2010 and working out how they feel about their prospects. This makes for an interesting look forward. The COUNTRY Financial Security Index measures how people feel about the economy and tracks trends about financial security. It’s pretty evenly split in terms of what people feel about financial prospects for 2010, reports COUNTRY:

As 2009 draws to a close, Americans are almost evenly divided on their future financial predictions for 2010, according to a survey conducted in connection with this month’s COUNTRY Financial Security Index^®. Twenty-nine percent say things will be better, 28 percent say things will be worse and 32 percent think the status quo will prevail.

It’s an interesting look at the general attitudes in the country. I, personally, think that mine will stay pretty close to the same. The recession didn’t have much of an effect on my freelance home business, and I doubt things will change much for me.

Where do you fit in? Are you hopeful for a better year in your personal economy?

When you are self-employed, it is difficult to pay for health care. And, unfortunately, things probably aren’t going to be any easier once Congress is through with health “reform.” Our health care will still be more expensive than any other developed nation’s and we’ll still only have the 37th best health care in the world. One of the main problems is that none of the people who make the rules, pay the money to have the rules made as they like, or make money off of whipping up furor over an “evil socialist” public health care system, have no interest in having affordable health care for We the People.

As a result, you are pretty much stuck on your own. I know. I’ve been paying for group individual health care for years now as someone who is self-employed. And even though I get a tax break, it is still a hit to the wallet. Especially now that my premium is going up by $80 a month because my husband and I turned 30 in the last couple of months. It’s ridiculous that we don’t get any sort of credit or rate reduction due to our healthy habits and preventative care, but that’s life.

So, since my fantasy of having affordable universal health care will probably never come true (either through a Massachusetts-style system or through a single payer system), I am now considering the Health Savings Account. This can be a good move for many self-employed folks, since it allows them to pay lower premiums by getting a high deductible plan. Then you put money in the Health Savings Account, which has tax advantages and grows for your use. You can get the money out anytime you want, and it rolls over year to year — and it grows because it’s an investment.

So, this is a viable option for many who are looking for a way to pay for health care when self-employed. Because things are getting ridiculous.

This is a great time of year, with a chance to reflect on what you are grateful for. I hope you are having a good holiday.

Happy Thanksgiving!

Whether you want to work from home to earn money for life’s little “extras”, or whether you are looking for a solid source of income, you  probably want some money making ideas. The good news is that there are some things that you can do, working mainly out of your home. CNN Money has 5 money making ideas that aren’t terribly hard to get started with:

1. Consulting: You can become a consultant in your field of expertise. With contract workers in higher demand, this could be your chance to do a little consulting.

2. Look for yield: This requires that you show a little investing savvy. Find some investments that are paying a competitive yield right now, or look into dividend investing. You can also use peer to peer lending as a source of yield. But with any investment, you need to be prepared for the possibility of loss.

3. Landlord: If you have empty space, or if you think you can get a good deal on a unit of some kind, you might try landlording. But this can be difficult to get started with, and devastating if you can’t find renters.

4. Teach college: You can be an adjunct at a local college, teaching part-time and still earning a decent wage. Other institutions of high learning look for professionals to help teach online classes. You may need a Master’s degree to qualify, though.

5. Turn your hobby into money: If you enjoy crafts, or writing or any number of hobbies, and there is a market for your products and services, you might find it possible to make some money.

Happy Halloween! Enjoy this video of Disney Villains singing about money. Money is scary. Disney villains are scary. Perfect for Halloween.

Happy Friday!

When you work from home as a freelancer or running a home business, there is always a chance that you could take a hit from the loss of work, business or a big client. This is a special concern during times of economic turmoil. Even though the recession is technically over, many home business owners are likely to continue to struggle for a little bit longer.

When you are your own boss, you need to make sure that your plan your finances so that you are prepared for a drastic drop in income. Here are some things you can do to protect yourself in the event that your home business can no longer provide the income you need:

* Save up: Have an emergency fund that you can build to help get you buy until you can replace the lost income.

* Find other revenue streams: Diversifying your income is a good way to provide protection from income loss. For example, you can participate in affiliate programs, look into dividend investing (but this comes with its own risks) or do work for sites that offer recurring revenue.

* Build in some contractual protection: One thing I like to do when entering into a long term arrangement is to require a notice of two weeks before the client can terminate an arrangement. While this isn’t always full-proof, in most cases it will at least give you a couple of weeks to find replacement income.

In the end, it is up to you to be prepared. You can’t rely on anyone else to look out for you, and protect you from a drop in home business income.

Here is an interesting video about how banking works. While it’s not exactly whimsical, it is interesting, and reasonably well done. It does help illustrate how the banking system works. So, if you have 12 minutes and a desire to learn more about how banks work in society, enjoy.

Happy Friday!

A few months back, many people were concerned about the safety of their money. The good news is that most money is safe in an FDIC insured bank account. But Nightly Business Report from PBS decided to make a spot about taking concerns overboard anyway. And it is reasonably amusing. Enjoy learning about the Mattress Vault. And the Coffee Can Vault.

Happy Friday!