Taxes, Inflation & Debt: Is Affiliate Marketing The Solution?
Did you know that taxes, inflation, and debt are what keep most people broke, living paycheck to paycheck? This is the unfortunate truth. But is affiliate marketing the solution or just another trend?
Taxes are the single biggest expense people pay in their lifetime. Many of us work the first three to five months of the year, just to cover our tax bill. This is just crazy.
Inflation decreases our spending power as the “value” of the dollar goes down each year. The government prints money whenever they want, which puts more currency in circulation, which makes the “buying power” of each dollar decrease.
To put things in perspective, look at how much the cost of a gallon of milk, a meal at your favorite restaurant, or a tank of gas for your car has gone up over the past 20 to 30 years? That is inflation at work.
And finally, most people have so much consumer debt that they don’t have “extra” money to invest or pursue their passions. People are burdened with immense college loans, car loans, credit cards, and big mortgage payments. Sometimes you feel like you’re working just to pay down your debt!
Why You Need An Online Business
Now, I know there isn’t a lot we can do about inflation (that’s up to the government) but I do believe that having an online business can help you with those other two things.
Reason #1 – First off, an online business can help you save money in taxes because business owners have tax advantages that employees do not have.
Reason #2 – Once you have a business of your own, you can write off many of the expenses you already had, which reduces your tax bill (please talk with your CPA to figure out what you can and can’t deduct).
Reason #3 – Next, having a part-time online business (in addition to your primary source of income) can help you earn additional income, which can be used to pay off debt and invest in the future.
Why Affiliate Marketing
The stats prove that online shopping is thriving and growing exponentially each year. Here are some stats that prove that an online affiliate business is a viable option:
- According to the Awin Report, affiliate marketing is worth well over $16 billion and it’s still growing — approximately 10% year-over-year.
- Based on Salesforce data, the total digital sales during the holiday season last year were up 36% (YoY) and reached $270 billion globally. In the U.S. alone, they were $60 billion and up 29% compared to 2019.
- According to Accenture’s research, as reported by Awin, 45% of shoppers were estimated to buy internationally on the web in 2020.
- In their 2020 Industry Report, SaaS Scout reports that affiliate programs drive 15–30% of all sales for advertisers.
As I see it, everyone needs an online business to help them fight inflation, taxes, and debt. Do I honestly believe affiliate marketing is the only way to achieve financial success? No, but it is a viable option.
There are many home-based business models to choose from. Whichever you choose, you can get some amazing tax advantages and take control of your financial future. If you’re ready to get started with some FREE affiliate marketing training (same that I took when I started out), learn what I did.
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