I’m a firm believer in avoiding debt, especially when starting a business. Pouring thousands of dollars of loans into a business before you can afford it is never a good idea.
This is why I’m a huge advocate of growing your income before you grow your expenses. For example, when I started my online business, we could not even afford Internet. I got creative and signed up for a 3-month trial for AOL dial-up Internet.
Every time I called to cancel my service before the trial was up, they wouldn’t let me. For over two years, they let me keep my slow Internet for free. I was SO excited when the day finally arrived that I could pay for Internet!
Sure, this means there will be sacrifices to make in the beginning, but it will be so worth it later on when you don’t have a huge pile of debt to face.
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I agree on avoiding debt as you grow a business. That is why I’ve been trying to blog and learn and grow over time. I hope to monetize eventually but for now I’m just debt free and trying!
Great advise!! I am planning to start a small storefront in my (now a storage room) living room . . I make upcycled hand sewn baby clothes, dolls and crib size quilts as well as hand knitting hats, pot holders (won a blue ribbon on pot holders and doll at county fair!!)
I listened to today’s scope on katch.me about advertising on blogs and you referenced link to a page where you said you went more in depth about making money blogging but when I type the link it isn’t working. Maybe I misunderstood what you were saying. Do you mind giving me that link?
Thanks so much!
https://moneysavingmom.com/scope
Thanks!