VirtualVocations

Most of us who opt to work from home operate on a shoestring budget.  In the early days of our venture, cutting corners is essential, and every purchase must be carefully considered.  Once we are established in our career, spending must be closely monitored to maintain profitability. 

There are times, however, when it’s wise to spend money.  Just as traditional businesses invest in equipment, training, and other business related expenses, those of us who work at home need to invest in our own endeavors.   

When you are contemplating investing in your career, it is wise to ask yourself a few key questions to determine if the expenditure is justified: 

• Will the investment make me more productive?  Some examples of good investments for productivity are job-related software, a faster computer, or a part-time assistant.  
  
• Will the investment help me work more safely and comfortably?  Investments that provide a safe, comfortable work environment are essential to avoiding injuries and physical strain.  Some examples of wise expenditures in this category are ergonomic furniture and quality lighting.

Once you have examined a purchase and determined the benefits justify the expense, it’s time to look at your specific needs.  You may need a computer, for example, but what computing speed and memory is the norm for your specific line of work?     

The next thing on your to-do list is deciding when to make the purchase.  There will be times when you have no choice, such as when your computer crashes or when you need to buy a business license or pay membership dues.  Hopefully, these situations will be few and far between, however, and you can make the majority of your purchases when it makes the most financial sense.  You may be able to time your purchase to coincide with a retail sale, or perhaps you’ll decide to wait a month or two so you can pay cash rather than using credit.  For larger purchases, check with your tax preparer for recommendations on the best time to buy. 

Lastly, shop for the best possible deal.   Your goal is to get the best quality for the lowest price.  This may mean used furniture or books, printing promotional materials from your home computer, or shopping at a club store.  Start with the lowest price options, and if the quality is not sufficient, move up to the next level of options. 

With proper planning, the dollars you spend on your work-at-home career will prove to be money well spent and will pay for themselves over time.