Posts made in September 2017

 (All posts may contain affiliate links. Please see my disclosure policy)

Lots of us are keen to increase our income, but we’re painfully aware that it often takes money to make money. Of course, lots of us are time-poor too! Having mad money-making schemes and ideas simply isn’t practical if you have to invest a lot of your time in it. This is especially true when you have family or job commitments already. So how can you earn more without giving up every spare minute or every penny you own?

Start Your Own Business

This might feel like “pie in the sky” right now, but there are plenty of ways to get started without spending much money at all. The cheapest-to-run businesses are online. They are often run by SAH moms looking for something productive to do during nap times. Blogs are the most popular ways to generate a little income for not a lot of effort.

(photo credit)

To get started in business, consider buying a website domain. They are sometimes available for free. You may need to pay a hosting service a few dollars for your site. Again, some may offer this service for free. Even your website can be built for free if you’re familiar with WordPress. Pick a theme, add a couple of photos and start typing your first post. It really is that simple.

Of course, from here, you need to start generating traffic. Interesting articles are key. You will also need to publicize them using social media (again for free.) It may take a few months, but once you have subscribers and visitors, you can generate income. This can come from advertising and other monetizing ventures. Why not sell some of your crafts or artwork here?

Get A Promotion

Earning a promotion at work takes hard work and some pretty effective networking. Of course, you might also need to stand out from the crowd if some of your colleagues also want a chance at that new job. Improve your chances by improving your education or qualifications. Perhaps you only ever considered your kids’ education before? There are plenty of ways you can save money here too.

Getting a masters or doctorate isn’t impossible. You don’t have to drive out to another state to get on campus. You don’t have to give up your job or even take any leave. There are plenty of online Doctorate programs that may be suitable for you. Having a doctorate or Ph.D. might be just the boost your career needs to put you in those high-paying senior positions. Studying at home at a pace that suits your lifestyle can save you valuable time and money.

Of course, if you’re trying to find a career move by taking a job elsewhere, you might find you have travel costs and time off to consider. Always ask for a phone, FaceTime or Skype interview. They might say no, but if you highlight the cost savings here, that might work in your favor! Do your research if you are heading out to an interview. Is it easy to park for free, or should you look around for cheap parking? Can you forward any documents or a presentation that will help your application to stand out? After all, if you’re investing in the interview, you want the very best chance of succeeding!

Sell Your Things

Fees and time might be the things that worry you most when you think about selling your belongings. There are time-efficient approaches that can minimize your investment here. And you don’t always have to pay a fee when you advertise that you have something for sale! Start with your local newspaper. Many classifieds adverts are fee-free to post, especially if you’re only posting it on the online version.

Big internet auction sites and most of the local sales websites also offer free days when you can sell anything you like without having to pay a fee. Subscribe to their social media page or newsletter to find out when these might be. Don’t forget – a good old fashioned garage sale can shift everything in just an afternoon without having to pay anything. The cash is right there in your hand ready for your next investment (or a shopping spree!)

You can also post your items for sale on your social media pages. Keep these posts public so that anyone can see them. It might better your chances of getting a private message back from an interested buyer. The handy thing here is the ability to post a video. That means you can clearly demonstrate the things you’re selling and how they work. This saves time showing them to interested parties later on.

Downsize Your Home

Homeowners have a lot of cash tied up in their properties. Of course, the stress, hassle, and expense of moving house puts most of us off trying to release that equity. Don’t be put off though. There are plenty of ways to sell a house that doesn’t involve expensive realtor or agent fees. And it needn’t take as long as you fear either.

(photo credit)

Social media is a free service you can use at any time of the night or day to sell your house. And there are plenty of websites you can advertise your house on for much smaller fees than engaging an agent. You do need legal assistance to buy and sell a property, but you can always shop around. Some law firms occasionally offer discounts or promotions that might help you here.

The idea is to buy a property for a lower price than you sell yours. Lower priced properties can be found if you’re willing to move to a cheaper neighborhood, or if you’re willing to buy a smaller house. Always look for properties in areas that are trending upward in price. If there is scope for improvement, this can also offer you a future profit. Most importantly, you’re releasing equity in your current home. You might potentially reduce your repayments too.

There are plenty of ways to make savings when you’re trying to make more money. Perhaps you were put off by the costs involved in getting started? Would you try and earn a little more with one of these ideas?

(All posts may contain affiliate links. Please see my disclosure policy)

(photo credit)

Did you know that more than half of the population of the US is in debt? Well, nerdwallet.com has some pretty disturbing statistics when it comes to families’ finances. For example, the average family pays back over $1,000 in interest payments each year. And, the average debt for an American family is $130,000.

So, what is the point of these stats, aside from trying to scare you to death? It’s to show that debt isn’t uncommon. However, just because it happens doesn’t mean it’s a good thing. If anything, being in the red is something every family wants to avoid at all costs.

To do that, you have to be aware of the cause. Underneath are the main reasons households take on so much debt.

Poor Money Management

If a stranger on the street asked how much you earned and spent per year, the answer wouldn’t be instantaneous. The majority of people think this is too much to ask, yet it’s a standard requirement of keeping your finances in the black. Sadly, far too many families are not aware of their earnings or expenditures. And, if they are, it is only a short or passing understanding. Without a detailed budget, it is almost impossible to keep a tight grip on your bank balance. If you don’t know where to start, you should check out learnvest.com. Their guide will walk you through the process.

Mishandling Credit Cards

Every self-respecting family has a credit card. In fact, cnbc.com says the average amount of debt is $16,000, so you might have more. A rectangular piece of plastic is a handy tool to have. Not only does it help spread out big payments, but it also provides an extra source of capital. For families, a contingency plan is essential. However, it is easy to make fundamental errors, such as not paying off the balance each month. Lots of families don’t take advice from offers.creditcard either. In their opinion, a person has to choose a card with features that are tailor made. For example, 0% APR if you don’t have the money in your account.

Unwilling To Sacrifice

It goes without saying, but managing your finances means making sacrifices. Yes, everyone would love a huge house with a garden, but it’s not possible. We would all like to fill the house with beautiful things and order cable, too. However, these things are only realistic if you have a budget which allows you to spend the money. Seen as a beautiful house and all the trimmings is more than the average yearly wage, most people don’t have the cash. As such, you have to be willing to forfeit nice things in the short-term to get them in the long-term. Everything from living in the same property to keeping the same car is a sacrifice you have to make. Otherwise, the costs add up and destroy a family’s finances.

These are the three leading causes of bad finances. If you treat them with respect, your budget should stay intact.