Is it possible to be financially independent and stable whilst running your own business?
I’ve managed to remain debt free for three years now but it’s come at a high price. I am still trying to run a business from house shares. I don’t think it’s much to ask to want enough space to live and work. Whether I have a 2 bed property that I can effectively work in, or hire a small studio, it’s going to cost me the best part of £1000 a month to run my life and with wage fluctuations and without getting into debt, that’s quite a lot to ask.
My work requires space. Work tables, rails, fabric stock. It takes up a room the size of your average sitting room. Which isn’t that much. But it can easily cost another £300-400 a month.
So what’s best? Out of debt? Or in debt but with more space to work effectively to expand? You decide.