I have not been able to make ends meet with my pay lately, without digging into my retirement savings just to pay bills. I have worked for the same company for five years and for the past year my income has decreased considerably. I have some college and I am actually still attending. I do not live beyond my means, I don't go out much, I don't even have cable TV. I do own my home, but my mortgage payment is low. I have only the bare necessities. I can't cut out anything as far as expenses. I have enough in my savings to invest at least a decent down payment in a small business or low cost franchise, and it seems like the only answer to save what I have left before I lose everything. If I don't invest soon, I won't even have enough to do just that! The problem is, I have never owned a business and I am worried about how shaky the economy is right now, so I want to make sure I don't choose the wrong type of business. I am not even sure if I should be buying into anything at this time. I can't dig into my savings anymore though, something has to give. Help....what should I do?
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