For many people itâ€™s probably going to be vacation time soon with the Christmas week coming. As evident, that means no work and usually no pay as well. Usually though for a lot of jobs, an employer usually offer its staff a Christmas bonus of sort which kind of works out as if you were still working during the holidays. Of course for a self employed person, itâ€™s usually always if you take a vacation wonâ€™t get any income at all.
As a result, it is not uncommon to see a lot of self employed people not take vacations. I have adopted a mentality before where if I am going to be taking a break of any sort I have to find a way to try and make up for the loss beforehand. So if it was a regular job, I wouldnâ€™t take a vacation solely based on the fact that I say saved enough money to go on one. But rather, if I was leaving for a week and I received some kind of benefit to cover those days too, like those vacation pay, then that would warrant it.
For a self employed situation, my general mentality is the same except what I would do would obviously have to be a little different. For example, closing myself down for a bit means there literally has to be something else running while I am not there to make up for the loss. Thatâ€™s where diversification comes in as usually when one part of the world is sleeping another part is widely awake.
It could be like this Christmas season there is a hot commodity item that I could sell online in my spare time to earn the additional income or do some additional online affiliate marketing to continually generate an income. These are simple examples too that you can do with a spare few minutes a day.
The main important reason for this I feel is that if you donâ€™t find a way to equally make up the income you would normally lose by taking a vacation, you are just setting yourself up for financial hardship once the party/vacation is over. Similarly, like a person working so hard by simply saving money to go on a vacation, after it is done they come back with zero dollars again. As well, the lost income from not doing anything during those times could result in them being in the red.
Makes life easier for yourself overall Iâ€™d say and in many ways the vacation/relaxation can continue throughout your daily life as oppose to just that one period in terms of finances.