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Extra Income

How To Start A Side Job

When you start the journey to financial freedom, the beginning can be difficult.  Not only do you have to stay within your income each month, you also have to dig yourself out of debt.  This can mean that money will be a little tight for a little while as you pay down balances on credit cards.  Sometimes earning a little income on the side may be just what you need to get ahead.  There are many great side jobs that you can take on to earn extra money and get out of debt more quickly.  Let’s look at a few ideas.

Use Your Talents

If you have some specific talents or skills, you may consider putting these to use by becoming a freelancer.  Those with graphic design, web design, marketing, accounting or an IT security degree should be able to easily find side work that will meet their needs.  Any skills that you have can be turned into a little money on the side by heading out on your own and getting a few clients. The great thing about freelance work is that it can done on your schedule and will work well with any job that you already have.

If you want to venture out on your own with a little side job, take an inventory of your abilities.  Can you write, edit, draw or keep books?  It is likely that you will be able to find freelance work that you can handle.  This is a great way to supplement your income and help you stick to your financial goals.

Work on the Weekends

You may also want to head out and find a job that you can do after work or on the weekends.  Right now many retail stores are getting ready to do their holiday hiring.  These stores typically offer flexible scheduling that will accommodate your current work schedule.  In addition, you may be able to get some great discounts that you can use on your holiday purchases.

Another possibility is to get a side job working in a bar or restaurant.  You will be able to work in a fun, fast paced environment and will probably even earn some tips, which can really add up.  If you don’t want to have to schedule yourself or find solo projects, going to work in a traditional environment may be just what you need.

If you are having trouble meeting your financial goals and getting out of debt with your own income, consider adding a little more.  There are many great side job opportunities out there for you to take advantage of.

What side job do you have or are you thinking about starting?

Extra Income

Financial Relief In The Form Of An Empty Bedroom

Mike blogs over at rentingoutrooms.com, it’s his story and tips on making extra money from your home’s extra space.  He’s been renting out his spare bedrooms for the past 5 years for extra income.  He’s going to hit one of his financial goals this year in 2011 and be one step further from feeling financial poor.  This is a great guest post for people wanting to make some extra money if your life situation can accommodate it.

When I bought my townhouse, I didn’t have much money; in fact, I had no money to put down. Ultimately, I ended up financing 100% of the purchase price of the property, which was a mistake on my part.  After I bought my townhouse, my budget was tight for months.  Meaning, I had to budget not only my groceries, gas, and utilities but also the tiny details such as a hair cut or going out to eat.  As you can see, it left no wiggle room for fun.

A year after I bought my townhouse, I wanted to go back to grad school, but didn’t want to take out student loans in addition to the student loans I incurred from my undergraduate studies.

Spare Room equals Spare Cash

I definitely didn’t want to take out student loans especially because I didn’t know what kind of return I would get on them to avoid going into debt for graduate school. I told myself after I get accepted to a graduate program, I’m going to rent out my spare room to a roommate.  I found my first roommate and charged him $600 bucks, which was an awesome feeling being able to collect rent that first month.

The Accomplishments

The rental income has allowed me to pay for graduate school (about $32,000) without falling a single penny into debt.  If I took out loans, I would have been in repayment as I’m writing this article.

In addition, the rental income has allowed me to payback a significant portion of my mortgage debt.  Specifically, I have been able to payback over 40% of my second mortgage (starting balance was $35,500).   At this rate, my second mortgage will be paid off by 2012.

Renting Out a Room

The only regret I have about renting out my room is not starting it sooner.  When I bought my townhouse in 2005.  I lived in it by myself on tight budget.  I wish I had started to rent out my rooms sooner.  As with rental income, if your room goes vacant for months, that’s lost income that cannot be recouped in the future.  With that in mind, I wish I had started earlier.  The opportunity cost of the lost income is endless.  It could have replaced my countertops in the kitchen, it could have put a small dent in my mortgage balance.  I don’t want to think about what I could have done with the list rental income.  I can only look forward and prevent the rooms from going unoccupied.

Extra Income

Want To Work For Yourself? 5 Tips On How To Do It Successfully

Becoming an entrepreneur isn’t necessarily as daunting or scary as it may initially seem. There is a method to the madness, and most entrepreneurs will tell you, it’s a way of acting rather than thinking. This is a key point to remember. It’s not in the way you think about your potential venture or business plan, but rather, it’s in the way you act towards getting there. The five tips below will help you act your way to success!

1)      Figure out what it is you want to do. Yes, that sounds rudimentary and obvious, but really, take the time to think about your passion, your desire, your dream. Without a burning desire to make something happen, it likely never will, because you won’t have the drive to make it happen, especially when faced with the unknown or an obstacle.

2)      Once you figure out what it is you are going to do and dedicate yourself to accomplishing (now here’s the kicker), allow for change. This may seem counter-intuitive, but just remember there isn’t only one way to get to where you want to go, and sometimes, you may take a few detours and end up at a place that’s even better than the one you were originally going for. There may be roadblocks and obstacles along the way (in fact, chances are there will be). So just remember, at each step of the way, take a look at where you are and act according to where you see your goal, whether original or modified, and what you need to do to get to the next phase.

3)      Networking is key to making your business successful. Chances are you have everyone you need to make your business a success within just a few degrees of separation. Send emails to your friends, old colleagues, family, etc. Reach out to new people you’ve never met in industries and roles that you think you need to learn about. Go for informational sessions just to find out what they do, how things happen, etc. The more you can network, the better. Try finding local networking groups in the area. Meetup.com, LinkedIn Groups and other services can guide you to finding just the people you need.

4)      Once you’ve talked to people and have done your research, and are off to a good start, build your team! Your team might be the most important part of your new venture. Make sure you choose wisely and that not only expertise and skills, but character and personality are complimented. You want to choose people that will be just as dedicated and “in it for the long haul” as you are, so choose a solid group that has a similar vision but can bring something “extra” to the table.

5)      Know how much you are willing to spend on your venture. Before you even begin, figure out just how much you are willing to lose. Sounds painful, yes, but realistically, if you don’t set an amount, you may find yourself in an even more painful situation. Figure out how much of your own money you are willing to put into the business and stick to that amount.

This is an article by the writers at www.ActionTrumpsEverything.com. To learn more about how to act like an entrepreneur, as well as to find out more about how to use a new entrepreneurial formula called CreAction to work for your goals, please go to www.actiontrumpseverything.com for a free copy of the Action Trumps Everything online book.

 

Extra Income

Opening A Home Business To Get Extra Income

The truth is that most people do struggle paycheck to paycheck. It is quite difficult to be happy when this happens since you basically have no cash available for emergencies and vacations are so hard to plan due to a lack of money. Finding different extra income opportunities becomes a necessity and the good news is that there are actually many things that can help you. That is especially the case when referring to using the internet for extra income purposes.

When thinking about the possibility of opening a home business, the truth is that most people from all around the world have access to this extra income possibility. It is not at all expensive to open a new company and you do not need to think too much about operations as you are starting in the spare time that you have at the moment. When you work part time on your new company, you can eventually reach that point at which you get enough extra income to dedicate your entire working time to the business that you created.

Everything Starts With An Idea

You need to first think about what you actually want to do with your home business. Obviously, you want to reach the point at which a company would actually end up investing in your business or even buy it. An example of a firm that offers such services can be seen at the Today’s Growth Consultant review.

It is really important that your home business revolves around something that you really love doing. This is due to the fact that the business will not generate a lot of income when it first starts. As time passes, you may lose interest in the event that you do something that you do not like. Take all the time that you may need in order to come up with an idea that you love and a business type that you would love working for.

Constant Investments And Expansions

Since we are talking about extra income, your home business will need to be run as a real company as time passes. A part of the profit that is generated has to be reinvested on a monthly basis. This automatically means that eventually, you will hire extra staff. When you reach that point you may be faced with a company that can actually be run on a full time basis.

The most important part of running a home business is trying to make operations wider and wider. You have to constantly think about expansions. Look for opportunities that are available for you right now and that can increase your profits. Seriously consider the internet because of the fact that it can bring in so many extra income sources that you never considered till now.

On the whole, we can say that it is most likely the right time to start a home business in the event that you need extra money and you do have around 2 hours that can be dedicated to the new company on a daily basis.

Extra Income

Reasons to Cash in Your Structured Settlement

Life has never been simple to live out these days especially in terms of keeping up with a financially stable kind of lifestyle, let us just say that not everyone is blessed to have a kind of life that will allow for extravagant expenses.

All the more finances are a troubling scenario for people who at a time in their lives have encountered a personal injury or an accident that left them having to stop from work and gaining the income that they are meant to receive but luckily though through law these individuals are able to reach a structured settlement that help provide them with support through months and even years.

Enough Money for Education

Whether it is continuing education for yourself or a family member, being able to cover the expenses for this will easily be available when you get the chance to sell your structured settlement to a reliable company that could at times be even more valuable.

Since many schools and university may require quite a big sum of money as a means to enroll, having the opportunity to turn structured settlements as a source of finance for this purpose is very appropriate.

Enough Money to Pay Debts

Being in debt is not unusual these days, leaving some to feel the added stress and the uncomfortable circumstance of worrying about paying a particular amount of money that often sums up to quite a big amount in the long run.

With structured settlements being able to deal with debt becomes easier and the troubles and worries are set aside since being able to earn the amount that come from these often come a substantial amount that can readily be able to finally get rid of any type of debt and other financial troubles.

Enough Money for Investments

If you are looking to purchase a house, a vehicle and other property investments you can refer to moneyupfront.net and other trusted sources that can provide you with the best deals in terms of selling your structured settlement for cash.

Whatever way you look at it, having to purchase these kinds of investments will require a considerable amount of money and since these settlements are in reality a part of money that you regularly receive, it is a good decision to use these for items that are a big necessity in everyday life.

Enough Money in Case of an Emergency

Many think of saving money and investing it for a rainy day which is a perfect reason to look into the decision of selling structured settlements since these summed together will create a good value of money that can be used when a family member falls ill or a business opportunity arises.

Handling money and finances can be a difficult task and being able to put each amount into something that is useful is very important to consider especially when it deals with cashing in structured settlement because you have to keep priorities and needs as a priority and make it a point that every cent returns a great value in the long run.