Recession Resistant Business Ideas: Credit Counseling Service

Are you a thrifty spender and a savvy saver? Learn how to start a home-based business as a part-time credit and debt counselor.

In these tough economic times, people are forced to spend less and save more. Sometimes the bills and debts can become too much for families to manage on their own. They need guidance and direction from someone who knows how to spend and how to save effectively. If you have solid budgeting skills and financial acumen, you can make extra cash working from home as a part-time credit and debt counselor.

A credit counseling service is a recession resistant business idea that will allow you to work at home. You don’t need any special certifications or classes to become a part-time credit and debt counselor. While such courses are available, you can get started right now and make extra cash using your financial prowess to help others develop a budget and financial plan that is realistic for their situation. Depending on your willingness to grow and learn in this profession, you can become a savvy business owner with unlimited earning potential.

As a credit and debt counselor, you can set up an office and work at home with families who are facing financial troubles. Creating your own credit counseling service allows you to set your own rates and your own hours to make extra cash. People are certainly willing to pay in order to get on the road to financial success.

Skills Required: financial skills, budgeting, organization and time management

When you work at home as a part-time credit and debt counselor, you will need to have a good understanding of personal finances. This includes home mortgages, auto loans, student loans and credit card bills. From your own experiences, it is possible to learn enough about these responsibilities to help others manage their finances. You should also be good at planning a viable budget an organizing a payment schedule for you clients. Time management is also of the essence, as you will need to set appointments with clients and return phone calls appropriately as the business owner.

Startup Expenses: $100

The startup expenses for a credit counseling service are moderate. With some basic supplies to stock your home office and a little advertising, you should be able to get clients interested in your services and start helping them down the road to financial success.

Monthly Revenues: $500-$800 per month

Depending on how many nights and weekends you want to work at home as a part-time credit and debt counselor, the return on investment for this new business is excellent. You may find that it might be worthwhile to invest in further certifications or professional training as a credit and debt counselor. These things will only increase your earning potential and set you up for success as a business owner.

Monthly Expenses: $50-$100

Monthly expenses for this home-based business opportunity are minimal. Because you will work at home, the only expense you may incur is basic office supplies and the occasional advertising fee.

Time to Break Even: 2 months

Within two months, you should be able to secure enough clients through your work at home as a credit and debt counselor to generate a profit.

With your savvy financial management skills, you can earn extra cash as a part-time credit and debt counselor. This is a meaningful and challenging job that will produce many different kinds of rewards for you as a business owner.

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