Author / Kevin

Extra Income

Sensational Ways to Earn Some Extra Cash

These days many people find it difficult to make ends meet in a financial sense. A lot of us are still feeling the after effects of the recessions, and as such money is tight. Because of this it’s necessary to look for ways to bring in extra cash. This extra money will help supplement your lifestyle, and give you a bit more disposable income.

You need to think about the different ways to earn some extra cash. Of course, there are obvious ways to do this, such as saving up and cutting down on expenses. However, you want to look more at ways you can bring in extra money on top of what you’re already earning. This is a list of some of the best ways to do that.

Extra Cash

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Work For Yourself

These days it’s become popular for people to quit their jobs and work for themselves. This is always an option for you. When you’re self-employed, you have more control over what you earn than when you’re an employee. As such you can make sure you earn more money. However, if you want to go into business for yourself, you’re going to need to realise that there’s a lot of work involved. This isn’t going to be an easy route to take, and you’ll have a while before you see a significant return. So this isn’t a great option for the short-term.

Claim Money Back

An untapped resource these days is to claim back any cash you’re entitled to. This is something that is readily available, but not enough people take advantage of this opportunity. You might be entitled to tax back or compensation from mis-sold loans or PPI. You need to look into this. The good news is that there are plenty of companies out there that will be able to file a claim for you. If you think you have a case to claim back some money you need to get in touch with one of these companies.

Sell Some Stuff

You’re bound to have a lot of junk lying around, and if so you need to think about selling some of it. There’s no doubt you’re going to have some possessions you no longer need or want anymore. So you need to get online and start selling these. Of course, you could sell them offline, but making use of the likes of eBay is a much more efficient and practical way of doing it. 

Take on a Second Job

Another way that you can make extra cash is to take on a second job alongside your existing one. Now, there are plenty of options for a second job, but a lot will depend on you being able to fit it around your busy schedule. The most practical and logical approach would be to take on a job you can do in the evenings. Something like e-commerce or another kind of job you can do online would be perfect.

There are plenty of ways in which you can earn extra money nowadays, and it’s important to do so. Every little helps in that respect, so you need to look for ways to bring in extra income. Have a look at the tips on this post. They will provide you with plenty of ideas for ways to generate some extra money.

Employment

How to Ask for a Raise in a Tough Economy

When the economy seems to be stalled, and many businesses are struggling to simply keep their doors open, asking for a raise can feel greedy, unfair — or even feel like a bad career move.

The truth is, though, that most businesses are interested in keeping their best employees on board and happy, and if that means adding a little extra to their paychecks, then they will find a way; however many managers won’t offer a raise “just because” or before your annual review. That means you have to advocate for yourself, and ask for what you deserve. Before you rush into your boss’ office and demand more money, keep these tips in mind. 

Do Your Research

When there is more month than money on a regular basis, it’s easy to believe that you are underpaid. Do some research before you ask for a raise. What are people in similar positions in your industry earning? Do they have the same level of experience and education? Someone with a masters degree in human resource management, for example, is probably going to earn more than someone who only holds a bachelor’s degree.

At the same time, just because the average salary for your job is a few thousand dollars per year more than what you earn doesn’t mean that you’re automatically entitled to that amount. The size and financial condition of your employer, and where you live can make a big difference. Someone working in midtown Manhattan, for example, is probably going to earn more than someone doing a similar job in rural Maine. If you determine that your salary is lower than average, though, you have one piece of the puzzle for requesting a raise.

Make a Case

First of all, you need to have a solid track record of performance before you can ask for a raise. In general, you should be in your position for at least a year before you start requesting more money.

However, simply showing up isn’t enough to warrant a salary increase. Be prepared to present solid evidence that you deserve more money. Create a document that highlights your achievements and shows how you’ve met — and exceeded — your boss’s expectations. You need to remind your boss of the value that you bring to the organization, and what she stands to lose if you take your talents elsewhere.

Ask at the Right Time

If your company has recently announced a round of cost-cutting measures, it’s not the best time to go looking for more money. Before you schedule your appointment, assess your company’s financial position. If you aren’t sure of your company’s financial position, proceed with caution; if you make a reasonable request and have the evidence to back it up, your boss is likely to understand your request even if she can’t comply.

Prepare to Negotiate

There’s always a chance that your boss will decline to give you a raise, even if the company can afford it. Instead of scurrying back to your desk embarrassed, ask your boss for a plan that will help you earn an increase. For example, she may suggest that earning a management masters degree will improve your prospects.

And if you can’t get your boss to pay you more money, see if you can negotiate other benefits in place of a bigger paycheck. If your company can’t afford to pay you more, perhaps you can work from home a few days a week or take an extra week’s vacation this year. If you are valuable to the company, your employer is likely to make concessions to keep you on board.

During times of economic uncertainty, asking for a raise might feel unwise — some would argue that you should be grateful to have a job, no matter how much it pays; however, it is not unreasonable to expect to be paid what you’re worth, and sometimes you need to ask for that.

About the Author: Career expert Julie Bernson writes about work, money and career development for a number of publications. She holds a Master’s in Human Resources and teaches undergraduate classes at her local community college.

Image provided by Stefano Valle from Flickr’s Creative Commons http://www.flickr.com/photos/switch75/6516529571/sizes/m/in/photostream/

Debt Management

Tips When Applying for Personal Loan

When a person is seeking to apply for a personal loan they can be doing so for various reasons. It could be for something like starting up a business, which requires a lump sum of cash; this is one of the main reasons that people apply for a loan. When it comes to starting a business, a personal loan will most certainly help a business to get off to a good start. Besides starting of a business, there are other reasons that people apply for personal loans as well, such as utility bills, medical bills, etc. These situations could be an emergency or just something that money is needed for until you receive your next paycheck.

“Today it’s more important than ever to plan your finances out each month” explains Ori Tal.  He writes on various websites on the Internet including his Ori Tal Tumblr.com account.

Bank or Institution

When people apply for personal loans, they usually do so through a bank or an institution. There are plenty of financial institutions and banks that are ready and willing to loan you the money that you need, provided you meet the criteria necessary to be approved for the loan. Generally there is more than one category of options to choose from when applying for a personal loan, depending upon your reason for doing so. The amount of money that you make, your job, and your credit score, all play a huge role as to whether or not you will be approved for the personal loan.

Bad Credit Score

Many people who have bad credit are deterred from applying for a personal loan because they feel like they won’t be able to get approved anywhere. It was tougher a few years back for people with bad credit to get approved for a personal loan, but not so much anymore. There are numerous lenders that loan money who and willing to help those with bad credit as well. One thing that you will have to keep in mind however that is the lower your credit score is, the tougher it will be for you to find a lender. You should also realize the lower your credit score is, the higher your interest rates will be.  

Short Term Personal Loans

A popular product is a short term loan which general deals with smaller amounts ranging from $100 to $1,500.  These specific loans often times require no credit checks.  The requirements are generally all the same and you must be at least 18 years of age, employment, valid checking account and have direct deposit of your paychecks.  These loans can carry very high interest rates but can help are a great alternative to those with bad credit.  

Mind Over Money

What’s Really Causing The Down Economy?

The Economy is based on how much money is being spent. So why is nobody spending?

Fear!

The TV is filled with stories that the world is coming to an end. That would make me want to save my money (and I do). If I don’t spend money then businesses don’t make money. If the businesses don’t make money then they don’t hire people. If people don’t have jobs then they don’t have money to spend. It’s a deadly cycle.

If either people stopped reading the news and watching TV we would be in a lot better shape because we wouldn’t know about the bad and would think everything is hunky dory. Ignorance is truly bliss and would help our country a lot, as far as the economy. But since people aren’t going to stop watching TV then we’ll have to think about something else.

Ninja had a good spin on the economy saying 91% of the U.S. does have a job. So how about the 91% of us that do have a job, help those that don’t by spending money. That would cause the business to make money, which would cause them to hire more people, which would cause those people to spend their money.

Sure you may be in debt up to your eyeballs, or your house may be underwater but that didn’t stop you from spending before. How did those credit cards get that much money on them? That’s right, you spent. So keep living your life like nothing has happened, spend your money and get payday loans. Eventually everything will pan out.

It’s a simple solution to a complex problem but it makes sense, doesn’t it? And then the TV will stop running stories about how the economy sucks. So lets take action and spend your money. Your country is counting on it!!!

What do you think about my solution?

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Debt Management

Paying Off Debt (With Kids!)

My husband and I are heads of that happy family-of-four you often read about. A seven-year-old little girl, and a five-year-old little boy. We live in a modest home with a shared bedroom for the two kiddos and only one bathroom for the four of us. Both my husband and I work full-time – I just started again now that both kids are in school.

Picture-perfect from the outside, including the financial choices: modest home, used car, public schools, thrift-store shopping.

And yet, on the inside: we’re in debt. Man-oh-man (as my five-year-old would say) are we in debt.

How’d we get that way? For starters, we had two kids. My beautiful daughter will turn eight years old in November and we have yet to pay off her birth. Yes, we had insurance, but I had one of those complicated pregnancies you can’t predict. C-sections cost over $50,000, and even good insurance often only pays half of that. My son’s birth was less complicated, but I was not a good candidate for a VBAC, so we had another c-section and another round of bills.

My husband and I had been very careful, avoiding all credit-card debt and working to pay down our respective student loans. We just didn’t know. Where on the OB-GYN’s wall does it say that having a baby costs as much as buying a new car?

So we started paying things off, bit by bit. But life happened. You know the funny thing about trying to throw all your disposable money at a hospital bill is that you suddenly need a new washer but you don’t have any cash left in your checking account, so you put it on credit… you get the idea.

Right now my husband and I have a combined $57,378 still on our student loans and a frightening $82,491 in consumer and medical debt. (My daughter has some lingering health problems that result in expensive hospital treatments and prescriptions. We are all hoping the Affordable Care Act will reduce this burden.)

It’s frustrating because we’re doing everything “right” and it feels like we can’t get ahead. Every time I make a budget, something gets in the way. It’s also much harder to distinguish between wants and needs now that they’re both in school: am I really going to be the only mom who doesn’t let her kid go on the field trip? The only mom who doesn’t put the kid in Scouts and then let her go on the Scout overnight? The mom who crosses her fingers and ignores the life insurance guide, or who squeezes her five-year-old into a car seat that’s a little too small? Absolutely not.

(Also, while we’re at it: what’s up with parents having to take on the entire cost of school supplies? I’m happy to buy pencils for my kids, but their school also requires us to buy copy paper for the school office, as well as bulk cartons of toilet paper for the school bathrooms.)

This year, we’re starting to fight back. My son is still a little too young to get it, but I’ve started talking to my daughter about saving money and not buying everything you see. We’re reading Little House on the Prairie and Five Little Peppers before bed, and she’s still young enough to think that not buying Hostess cupcakes for lunchboxes is “like Laura and Mary.”

I organized a clothing exchange and a toy exchange with a group of moms, meaning it looks like we’ll be able to outfit our kids pretty well for free. I’ve started packing everyone’s lunches in one go – Mom, Dad, and kids alike each get a peanut butter sandwich, some fruit, and a little baggie of cheese and crackers. Cable is out, libraries are in, our life insurance plan from SILI stays in the picture because we couldn’t survive as a one-salary family, our “winter vacation” is going to be a staycation and both sets of grandparents can come visit us for a change.

We started this reduced living strategy in August. Total extra cash to pay towards our debts every month? Around $200. It’s now my goal to pay down our kids’ births before they leave the house – but at least we’re making progress.