You are here: Home / Archives for 2014

Archives for 2014

What to do When Simply Saving and Working Isn’t Getting the Job Done

December 30, 2014 By

You read them every day: those articles that list crazy or extreme methods for saving money. They say things like “don’t buy anything new for a year” and “cook all of your meals at home.” You read them and you sigh because that’s not extreme, that’s your everyday life.

To you, the dollar menu is a decadent treat and, in spite of all of your efforts you don’t seem to be getting anywhere. Your debt isn’t reducing the way you’d hoped. Your paychecks aren’t stretching as far as you’d like. You feel guilty using even a simple savings plan. So what do you do?

Time to Start Selling

Everything you own is a potential source of cash. Seriously. So: ask yourself how much you truly need on hand to survive and then sell the rest. It seems crazy but remember: books, clothing, furniture-it can all be replaced later when you’ve reached your goals.

Sell Your Car. Yes, seriously. Even if your car is used or old you can probably still get at least a couple thousand dollars for it and that should make at least a sizeable dent in your debt. Use part of the sale to buy a good bicycle. Sure you might be pedaling a long way, but think of it as your morning workout. When the weather is bad, pack your work clothing into a weatherproof bag and change into them when you get to work.

Sell Your House. You’re already downsizing your stuff, why not downsize your house for an apartment? Apartments are cheaper and easier to clePocket Moneyan and maintain. Because they are smaller, the utilities you do have to pay are often much cheaper than you’d pay at your house. You can use the sale of the house to pay off what you still owe on it and then put the rest toward your debt.

Debt Consolidation

By now, it’s time to be honest with yourself: managing your debt and savings plan on your own isn’t working the way you’d hoped it would. It’s time to bring in a professional. There are a lot of people who will warn you against debt consolidation. They will say that it can wreak havoc with your credit. Here’s the truth: consolidating your debts makes them easier to pay off. A professional debt consolidator will also be more effective at negotiating down balances owed and interest rates.

The key to debt consolidation is to work with a non-profit agency. Non-profits get their money through grants and other programs so you won’t have to worry that the money you pay to them will be used to line a CEO’s pocket.

Bankruptcy

Bankruptcy is often considered “the nuclear option.” This is because, until filing Chapter 13 bankruptcy became more common, most people had to file Chapter 7. Chapter 7 Bankruptcy requires you to liquidate the vast majority of your assets (save for clothing, home furnishings and “the tools of ycompound interestour trade”) to help pay off as much of your debt as possible before wiping out whatever is left. This meant that people declaring bankruptcy often were forced to find housing, etc while the declaration was still fresh. Yikes!

Today, chapter 13 is much more common. It is is the “kinder, gentler, bankruptcy.” In California, by filing chapter 13 bankruptcy, you get to keep your assets protected, so there is no risk of losing your home, car or personal belongings. It is still an option that is best left until you have no others, but it doesn’t have to be the disaster that you might imagine. This is helped by the fact that, thanks to the economic crash in ‘08, more people have declared bankruptcy than ever before; it is almost common now.

The point is: don’t give up! Even if saving and work aren’t helping you reach your financial goals, you still have options. These are just some of them. What are some others you can try?

Filed Under: Budgeting, Debt, Money Tagged With: ,

The Difference between Abundance and Greed

December 24, 2014 By

Tgreedhe topic of money and abundance is starting to become increasingly popular among those that feel that they are entitled to more of what the universe has to offer. This is especially true since the release of movies, CDs, documentaries, and other forms of media regarding the Law of Abundance living has dramatically increased. Examples of the top media sources that expound on the topics of money and abundance include “The Secret”, “Law of Attraction Magazine”, and “The Science of Getting Rich” book. Unfortunately, many wonder if there is a true difference between desiring abundance and simply being greedy. If you are reading this, chances are, you are one of the individuals questioning the distinctions between abundance and greed. The truth of the matter is, yes, there is a difference between wanting to experience money and abundance and being greedy. In this guide, you will learn about these differences.

What is Abundance?
Surprisingly, when researching the abundance definition, you will quickly discover that there is no mention of money, whatsoever. In fact, it has been established that abundance has the capability to impact all aspects of our lives, not just our finances. The most basic abundance definition states that when one is experiencing true abundance, they are completely happy within themselves and, regardless of what happens throughout their life – be it positive or negative – it does not eliminate that happiness. Those that live within the mindset that includes abundance have a sense of balance, a sense of hopefulness, and realize that life consists of unlimited possibilities. This is especially true as it relates to money and abundance. If you have this mindset and engage in the law of abundance living, you are sure to find that your financial situation improves and excels beyond your wildest imagination.

What is Greed?
Greed has many definitions. It is considered to be one of the main seven character flaws exhibited in humans. If you are a greedy person, it means that you have a very excessive desire to have more than you need, or more than you even deserve in life. It especially pertains to money, but, may also pertain to other types of possessions such as food and collectibles. Greed is typically not rewarded appropriately by the universe. While the desire to be abundant could be viewed as being greedy, it is very different in that the individual knows and understand that to receive more than one has is a blessing, whereas, the greedy person feels as if they are entitled to it. They have the “World Owes Me” mindset. Not the mindset that surrounds the positive and the productive.

The Money Changers of the Bible
In order to clearly understand the difference between abundance and greed, let us consider the story of the money changers contained within the Bible. This may be found in John 2: 12-17. Jesus, who had a desire for all to live abundantly, visited the temple during the annual celebration of Passover. When he arrived, he discovered that the leaders of the temple were permitting merchants to conduct business in areas that were specifically designated for the unique worship to the God of the Christian faith. He found, instead of focusing on worshipping, they were more concerned about making their money. This was very wrong in the eyes of Jesus, so, to honor his father, he overturned the vendors’ tables and scattered all of the money that they had dealt. The vendors were greedy, but, would have experienced more abundance had they worshipped God in the temple.

Conclusion
Many want to experience money and abundance and experience law of abundance living. While it is true that most want to see their finances improve, these people know and understand that abundance is more than just making money. It is about personal contentment in all areas of life. The people that want money and abundance and want to learn more about the law of abundance living are not at all selfish. Instead, they simply want to experience the best that life has to offer, not take all life has to offer for themselves. By having a positive mindset about all aspects of life, one will find that it is easy to obtain both money and abundance.

Filed Under: Money Tagged With: ,

Financial Planning Tips for 2015

December 15, 2014 By

financial-planningFinancial Planning Tips for 2015

There are many productive financial planning tips that you may follow in 2015 in order to improve your financial stability. As 2014 draws to a close, many of us are left wishing we had saved more money throughout the year. There are some that wish that they had paid more towards their debts. Several individuals are finding that they have fallen short of the expectations set forth in their personal budget. Then, there are many that simply want to make a change when it comes to personal finance planning. Regardless of where you stand in the mix, there are several productive ways to manage money in 2015. By reading this guide, you are already moving in the right direction. Simply push aside the financial issues that you experienced in 2014 and gear up for that fresh new start in which you are entitled come January 1st.

Establish an Emergency Fund

During the past year, it is quite likely that you have stumbled across at least one financial emergency. Common examples include experiencing work hour reduction, getting laid off, unemployment, unexpected medical expenses, home repairs and mechanical complications with your vehicle. An emergency fund is a type of financial buffer that is designed to assist and protect you should an unexpected situation arise. Simply expect that you may be derailed by unexpected and unforeseen events like those previously mentioned and ensure that you set aside money in a savings account that will assist you in getting through those events. In taking this step, you are less likely to fall back on unconventional means of handling emergency situations, such as taking out a loan or depending on credit cards to see you through.

Challenge Your Current Expenses

One of the most productive ways to manage money is to make certain that you consistently challenge your current expenses. Simply tally the monthly expenses that you have and then go through each item carefully, one by one. Once you have done this, ask yourself if the expense is a necessary one. For example, do you really need the biggest cable television package or a large data plan on your cell phone? If not, eliminate all of the unnecessary items as quickly as possible. Then, start putting away the money you save each month into a savings account that accumulates interest.

Purchase Used and Sell Old

If you are interested in personal finance planning in 2015, you should make a commitment to purchase used items, when possible, and sell the old items that you no longer have an interest in or need. Used items and deals may be found on eBay, Amazon, Goodwill, Plato’s Closet, and Twice. In some instances, you may be able to enjoy saving up to 95% off items that you want by simply buying those items used. As for your old stuff that you no longer need or want, put it all up for sale on eBay, Amazon, Facebook Swip Swap, or even Craigslist. You are sure to generate a little cash that may be put away for other financial endeavors.

Conclusion

Financial planning for 2015 does not have to be challenging. You must simply approach the task of personal finance planning with an open-mind and a little creativity. In doing so, you will find that there are numerous ways to manage money in 2015. By following the short, simple ideas contained in this article, you will be able to eliminate common spending, reorganize your budget, eliminate some of your debt, save some money, and create new spending habits that will work in your best interest. By starting your New Year off with these financial planning tips, you are sure to discover by this time next year the rewards you will reap from working your money in a smart way.

Filed Under: Family Finances Tagged With: , , ,

Saving for Retirement – 5 Steps to Success

December 10, 2014 By

Saving for Retirement – 5 Steps to Success

Retirement should be an important concept to each of us. As soon as possible, we should all be focusing our efforts on saving for retirement. According to the Department of Labor, most individuals spend at least two decades in the retirement phase of their lives. By focusing on a money saving tip here and there, you are sure to achieve success in putting back a little cash for what promises to be some of the best years of your life. Financial security during our retirement years is not something that naturally occurs on its own. You must have a plan and stay committed to the task at hand. In this guide, you will learn 5 simple steps that will make saving for retirement successful.

Start Saving as Early in Life as Possible

One of the best and most productive means of saving for retirement is to ensure that you start doing so as early in life as possible. This is, perhaps, the best money saving tip for individuals that have a desire for future financial security. Saving is a very rewarding habit. Simply start small in your younger years and increase the amount that you save as you grow older. This will allow your investments longer periods of time to grow. Your retirement investments should be a top priority. Simply come up with a plan, set goals, and be persistent in sticking to your plan and achieving your goals. There is power is passing time, especially when it comes to compounding interest!

Max Out That IRA

As of 2014, the maximum amount that you may contribute to an IRA account is $5,500.00, annually. If you are over the age of 50, this amount goes up to $6,500.00. To successfully max out an IRA account as an individual under the age of 50, you would need to place $458.00 a month in the account. If you are over the age of 50, you would need to contribute $542.00 a month into the account. These contributions may be made right up until it is time for you to file your taxes. In making contributions until this time period, you will find that you are able to save money right away on your taxes.

Opt for Your Employer’s Retirement Savings Plan

You should be certain to sign up for any type of retirement savings plan offered by your employer. An example of this type of plan is the ever-popular 401(k) plan. Once you have completed the sign up process, you should then immediately start making as many contributions as possible. You will find that the amount that your employer contributes increases and the amount that you pay in taxes are lowered. As time progresses, you will find that the tax deferrals that you receive and the compound interest associated with the contributions on the account will enhance the amount that you are able to save to put towards your retirement. This is a very popular money saving tip for people that are saving for retirement.

Appropriately Manage Your Risks

When planning for retirement and engaging in the task of saving for retirement, it is important to ensure that you appropriately manage any and all risks associated with the endeavor. You should ensure, as you age, that your exposure to certain types of risks decreases because recovery is harder as you get closer to retirement age. Common examples of risks that should be avoided as you save for retirement include, but are not at all limited to, longevity risk, inflation risk, excess withdrawal risk, health expense risk, long-term care risk, frailty risk, market risk, interest rate risk, liquidity risk, sequence of returns risk, and forced retirement risk.

Keep Your Portfolio Balanced

When planning for retirement and handling a wide array of investments that will assist in saving for retirement, it is important to ensure that you keep your portfolio balanced as your investments experience shifts. The ultimate goal is to ensure that you always have the money that you need for retirement on hand. If you find that your portfolio is not allowing this to occur, you should focus on making the necessary changes.

Conclusion

Retirement is a phase of life that is to be enjoyed and cherished. You have your entire life to prepare for this phase. There will come a time in your life when you choose or must withdraw from your career or your working life, in general. The goal is to create income sources that do not have to be earned through the process of working. It is a time of life when you are considered to be financially independent. By following the money saving tip list in this guide, you will find that you accumulate the savings, the investment income, and/or the necessary pension income that is required to cover your living expenses and enjoy yourself during your retirement. A few simple steps in saving for retirement today could bring many enjoyable tomorrows for you and your loved ones!

saving-for-retirement

Filed Under: Budgeting, Money, Retirement Tagged With: , ,

Erasing Your Debt Can Make You Wealthy

December 1, 2014 By

erase-debtErasing Your Debt Can Make You Wealthy

If you have the desire to erase debt, you are already on your way to a wealthier lifestyle. The secret to pay off debt is relatively simple. You must make more and ensure that you spend less. Of course, this is much easier said than done. It is easy to accumulate debt, but, it is complicated to rid yourself of that debt. The main reason for this is that when you use credit to make a purchase, you end up making that purchase several times over because of the interest that is charged on the amount that you owe. As a result of this, you find yourself in a seemingly endless array of outstanding balances that only move a couple of dollars to the positive each month. If you are ready to erase debt – once and for all – you are taking a stand against the vicious cycle imposed by creditors. You are at a point where you are ready to take charge and do what is necessary to regain your life. Erasing your debt has the potential to make you wealthy – not only in a monetary sense, but, as it pertains to your personal happiness, too!

The first aspect of successfully engaging in the act of erasing debt is to consider the main reason why you accumulated the debt to begin with. Finding the root of the problem will help you in avoiding that problem in the future. One of the main reasons why people find themselves in debt is because they engage in excessive spending, despite the fact that their income does not support their spending habits. In other instances, the habits that we develop in life may result in our spending in an excessive manner. The third reason why many get stuck in a financial situation where they are ready to pay off debt is that they consistently search for happiness and contentment in purchasing services and items. That is, they turn their personal issues into a financial issue by excessively spending in order to reach their “happy place” in life. Unfortunately, most find that the place that they reach in their financial affairs is anything but happy.

When you are ready to erase debt, it is imperative to resolve the emotional problem associated with those debts. In doing so, you are more likely to come to a permanent solution. In most instances, money problems will not result in the accumulation of debt. Instead, it is behavior patterns and emotions that will result in the accumulation of debt. In order to pay off debt, you must avoid the temptation associated with credit. To avoid this challenge, you must be willing to address the behavioral and emotional reasons why you feel as if you must spend more than you make through the means of loans, credit cards, and other types of debts. By addressing the problem by the root, you are likely to experience positive, productive financial growth.

Once you have identified the behavioral and emotional reasons for your debt, you may then opt for new beliefs, opinions, and habits that will assist you in moving towards a wealthier lifestyle. Examples may include making a budget that is designed with appropriate spending limitations, based on your income and your financial obligations, tracking your spending habits, learning to curb spending on an emotional level, engaging in retail therapy, leaving credit cards in a locked and secured location, and acquiring a financial accountability partner. By taking these simple steps, you are engaging in actions that are sure to optimize the wealth that you experience in life. By committing to erase debt from your life, you are committing to experiencing wealth like you have never known before. You must remember, though, a lifetime of habits got you where you are and new habits must be formed to pay off debt, stay out of debt, and enjoy the rich lifestyle that you dream of….

Filed Under: Budgeting, Debt Tagged With: ,

Christmas Shopping with Online Catalogs – How to Control your Spending!

November 26, 2014 By

When it comes to holiday shopping, online catlogues are a great way to save. Not only do they offer lower prices, and allow customers to pay the full purchase price off over a period of time, they also offer great holiday gifts for everyone on the list. So, how can you avoid overspending, when the holiday season rolls around? These are a few tips to help keep you within budget, when the busy holiday shopping season kicks in.

Choose a select few -
By choosing two to three catalogues, you will limit yourself on purchases being made. With hundreds of online catalogues, many shoppers will feel overwhelmed. By limiting the number of online catalogues you visit, you will limit the number of items you buy, and total being spent on purchases. Visitchristmas gifts creditcatalogues.org.uk for a list of the most popular catalogues.

Make a specified list -
If you are shopping for great deals on cutlery, only visit these holiday catalogues. If you are buying clothing or toys for the kids, only visit these catalogues. By making exact lists, rather than a generalized list of items to buy, you will help control the items you browse through, and purchase during this holiday season.

Don’t shop on impulse -
If you can’t sleep at 2 AM, don’t get online; find other ways to put your mind at ease. You want to avoid impulse shopping, and potential situations where you click the “buy it now” button. So, make time schedules for shopping, and don’t allow yourself to visit the catalogues or online retailer sites, during off hours.

Make the budget -
This is possibly the most important on the list. You have to set a budget and stick to it. So, start with the most important items at the top of your shopping list and work your way down. Cross off purchased items, and once the budget is exhausted, don’t spend any more. With limits on the holiday shopping, you are not only going to avoid overspending, but also potentially purchasing items you don’t need at all.

It is easy to overspend during the holidays in no time. These simple tips can help keep you within budget, and still purchase all the gifts for friends and family on your list.

Filed Under: Shopping Tagged With: , , ,

How to Start a Side Business for Easy Extra Cash

November 24, 2014 By

start-a-side-businessHow to Start a Side Business for Easy Extra Cash

Learning how to start a side business in order to make a little extra cash may prove to be extremely complex and very difficult for most. Taking your future into your own hands and becoming your own boss is an exhilarating and wonderfully exciting task. Before initiating a business, it is imperative that you are ready for the challenge, on both a personal and professional level. You should decide on your business idea, determine the market potential for your business, determine how much money you are able to invest in the business to get it up and running, and create a business plan. In this guide, we will take a look at the first step – the business idea. Here, we will provide you with a few different service-related careers that you may start in order to earn a little extra cash. By starting these types of side businesses, you will not experience the challenges typically imposed by such an endeavor.

Pet Care Services

Are you the type of person that gazes into the windows of pet-stores and find yourself wishing you could provide homes to the pets that you observe? Are you known to purchase unusual items for your pets, such as sweaters or galoshes? If you adore and let pets, you should consider starting a side business in pet care services. In the year 2004, Americans alone spent an amazing $35 billion on their pets. Since that year, pet spending continues to increase annually. Regardless of whether you are interested in dog walking, grooming, or pet sitting, you are sure to find that, by going into pet care services, you will have numerous customers, which makes the prospects for financial success excellent. Many pet care services may be started as a home based enterprise and all require a relatively low initial financial investment.

Home Maintenance Services

If you are interested in and have the ability to perform tasks around the house – such as repairing leaky faucets, securing shingles, painting, repairing cabinets, mowing and maintaining lawns, and/or repairing floors, you should consider starting a side business in home maintenance services. Homeowners who lack the expertise and/or time constraints often hire individuals that perform these services to take care of home maintenance and repair services. On average, Americans spend nearly $44 million annually on these types of services. There are numerous benefits to starting this type of side business. First, it requires very little money to start. You just need a little expertise, a few tools, a little extra time and you are well on your way to earning some side cash. You will find that your work is constantly changing and is highly gratifying. In addition to targeting homeowners, you may also be able to offer your services to owners of apartment complexes, condominium units, shopkeepers, and real estate agents. The one thing to remember is that you may need a contractor’s license before starting this type of business. You will need to confirm this through a local contractor board or a local commerce department before officially starting your side business.

Family Services

If you enjoy children, have a knack for domestic affairs, and enjoy assisting others, you should start a side business in family services. In today’s world, the number of parents that work outside the home is consistently climbing, which is creating a growing need for family services such as child care, tutoring, home cleaning services, and similar tasks. While it is true that this particular type of side job bears an exceptional amount of responsibility and requires the highest level of commitment, it is also true that this is a very important and rewarding position. You may start a small business where you tailor the family services that you offer. The initial investment is relatively small. Many have developed large family services enterprises that have led to millions of dollars of revenue annually. The route you elect to go will depend upon your personal level of availability and that which you elect to offer in the way of services.

Conclusion

There are many side businesses that you may learn how to start in order to earn additional cash. The most popular and least expensive of these businesses include pet care services, home maintenance services, and family services. If you elect to start any of these types of businesses, you should aim to promote your services by using the internet. You may create pages on social media platforms, such as Facebook, and even create informational products that you may sell that pertain to your industry. In addition to this, you may create an informational website where you offer high-quality content and post products pertaining to your industry. If you want to capitalize on your passions, your skills, and your talents, you should take advantage of both online and offline venues in order to optimize the amount of money that you make.

Filed Under: Budgeting, Family Finances, Money Tagged With: , ,

Make Extra Money As a Blogger For Hire

November 18, 2014 By

Want to make extra money as a blogger? It’s possible. It’s also not as easy as it might seem. While your writing dreams are well within reach, your income expectations may require adjustment! Additional information available HERE.

There are a few great places where it is easy to get set up and begin submitting your writing. In some cases, it’s almost as simple as that.

While there are many bloggers out there and there are a lot who are earning great incomes from it, they are the exceptions. Most bloggers write to supplement existing revenue streams, and most use it as a means to get opportunities to speak to live audiences.

usefulness-can-be-deliveredWhat you want to know, however, is that there is one key that makes blogging work and because of that, there are opportunities to get paid. In his recent article “Content Isn’t King… Here’s What Is”, Darren Rowse, creator of the ProBlogger network talks about how over the years, he’s seen various schools of thought around the notion of what is ‘King’. He’s noted that ‘Blogging is King’ was the hype for a while, that ‘Content is King’ surfaced as the next big thing, that ‘Facebook is King’, that ‘Twitter is King’, and now even ‘Google Hangouts is King’.

He goes on to make the point by saying, “The arguments for all of these things being ‘king’ are good… but they all kind of miss the point.”

Darren goes on to say that as far as he sees it, “‘Usefulness is King’. Creating content is just one way of being useful. Building community is another. Twitter, Facebook, Instagram, Pinterest, LinkedIn and G+ are just ways of delivering usefulness. Infographics, videos, podcasts and even blogging … all just different mediums for being useful.” Additional information available HERE.

I tend to agree.

Now, how does that help you get paid?

There are 5 things you want to consider to make money blogging:

  • Deliver useful information.

It would be helpful to have had some practice, blogging for yourself as a hobby or blogging for others in order to test and build your skills. Use your experience and write in a way that has readers returning.

  1. Be ready to produce useful content, even when you don’t feel like it.

To get paid, you not only have to deliver value in the content, blogging is a way to get the message out in creative content that can change minds and possibly help change the world for the better.

  • Be aware of what’s going on in the blogging market.

Times have changed and continue to change. Mommy blogger, Amy Corbett Storch, first began blogging in 2003. In an article published in NY Daily News, “Can You Make Money Blogging”, Amy referenced that change, mainly fueled by the down economy, drastically reduced the income potential from blogging.

Storch says “In the heyday, you might get [blog advertising] campaigns for $15 or $20 CPM (cost per thousand readers) [and now her average] CPM ad is paying $6. Most are around $2 or $3.”

If you’re writing for someone who is paying you, your potential income is also subject to that change. Where you may have been paid upwards of $100 per 600-1,000 word blog article, your income could be as little as $20-$40 per article.

make-money-blogging

  • Write more to earn more.

If the numbers work out, it would only make sense to increase the number of articles written, even submitting to multiple blog sources, and increase your potential income. As you do more writing, and expand the number of sources you write for, your income will reflect the amount of time you’ve expended. Remember, it’s all in the numbers … the numbers of words and the numbers behind the dollar sign.

  • Consider how much time you want to spend blogging, because it may amount to a lot.

Most people, especially those who are just getting started, underestimate the amount of time writing a good blog will take. Regardless of whether you’re an expert in your field, you will want to do some research and bring the views of others into your article discussions. That takes time.

Blogs are no longer the singular rant of the author. Today, they are more a purposeful, useful piece of pros, a valuable message.

Amy Lynn Andrews states in her blog article “How Much Do Real Bloggers Actually Make?” that “your income is proportional to the amount of time you put in.”

She goes on to say that “in other words, it’s not likely you’ll make full-time income writing and networking 2-4 hours a day. You could probably make a decent part-time income doing so, but getting to that point would require a good amount of blogging knowledge and experience.” I add to that … and time!

If you’re passionate about a subject and you have decent writing skills, blogging could definitely be a way to earn extra money. It is also possible to make a living, a very good one, even … by becoming a blogger. On the other hand, the hard and fast truth is most of the millions of bloggers today don’t make enough to support themselves just with their blogs.

In the end, you can make extra money as a blogger for hire and with this information; you have a realistic view of what it will take.

PEOPLE

[1] Amy Corbett Storch, 35, who lives in Bethesda, Md., with her husband and three kids. She first began blogging in 2003

[2] Darren Rowse is the founder and editor of ProBlogger Blog Tips and Digital Photography School.

http://www.problogger.net/archives/2014/07/21/content-isnt-king-heres-what-is/

[3] Amy Lynn Andrews teach people how to blog. She writes posts with tips, tools & tutorials, is writer of The Useletter, a neatly packaged Saturday brunch of bite-sized highlights. http://amylynnandrews.com/how-to-make-money-blogging/

Article Author Bio:

V. Lynn Hawkins is a small business strategist, co-author of Woman Entrepreneur Extraordinaire and founder of the P3 Academy of Social Entrepreneurship, and host of the weekly BIZ Info Zone WebTV Show hosted in Google Hangouts on Air.

Filed Under: Career, Family Finances, Money Tagged With: ,

Save Money like a Boss

November 13, 2014 By

save-moneySave Money like a Boss

If you want to save money like a boss, you are going to have to start thinking like a boss! Do not get caught up in the excuses for not saving money. It may seem like external forces are keeping you from saving money but the truth is a little more heartbreaking. If you are not saving money, it is because you do not want to. WAIT! Before you angrily click away, stick around a few minutes and learn why how you think about money is affecting what you are doing with it. (Trust me, you will be glad you did)

Assets and Liabilities

You might think a discussion on assets and liabilities is a bit much when you are talking about saving money. After all, you are probably not a business owner or big time investor. The truth is your life is full of assets and liabilities. The problems come in when you have more liabilities than assets. Take for instance:

Assets:

  • Income
  • Investments- stocks, bonds, real estate

Liabilities:

  • Debt
  • Vehicles
  • Home
  • Credit card purchases

Basically, anything that takes money out of your hand is a liability and anything that does or could potentially increase the money in your hand is an asset. Many people group their home into the asset category and it can be. Just realize until you owe less for it than it’s worth, it is a liability.

Now the question is how much money are you shelling out on liabilities? How many times do you stop for your favorite Starbucks coffee? Did you recently purchase a bigger television or newer car even though the ones you had were in good working condition? Do you see where this is going? You have to change your mind set about money and your ability to save because in most cases, you have several dollars per week you could stick back. You just have to re-purpose the cash you already have.

No Bashing Zone- Money Saving Tips

Look, you may be thinking at this point that all we want to do is beat up on you about your spending habits. Totally not the case. There is nothing wrong with enjoying some of the finer things in life. The question that remains is are you in the financial position to do that yet?

You can easily save around 1400 dollars in the next twelve months by trimming the fat in your budget and working on a savings plan. Aside from spending, the biggest barrier to savings for most people is simply getting in the habit of doing so.

Simple Savings Plan:

Start your simple plan today with $2. Yes, you read that correctly. Put two dollars in your savings account this week and next week put in three. Over the course of the year, increase your savings by one single dollar until you reach 52 weeks. You will never put more than $52 in the savings account in one week and at the end of the year, you will have amassed a tidy $1378. Hey, that is enough to take a nice small vacation or better yet start investing in your dreams. Do you want your own business? Have an invention idea? Slow and steady may not be sexy or exciting but it will get the job done!

Boss Mentality

Now that you have been saving for a while, it feels like second nature and you should be seeing your purchases in a different light. It is at this point that you begin to process money matters like a boss. In other words. focus on ways to bring in and save money rather than spending it!

Filed Under: Budgeting, Frugal Living, Money Tagged With: ,

5 Smart Internet Businesses To Start for Under $50

November 6, 2014 By

internet-businesses-to-start5 Internet Businesses to Start

There are many business ideas available on the internet. If you have an interest in learning how to start your own business, it is quite likely that you have already researched many of these ideas. Unfortunately, many of the business ideas that you are easily able to stumble across require a large initial investment. The truth of the matter is, most people that utilize the World Wide Web in order to discover business ideas are doing so because of the fact that their current income is limited. Therefore, it is virtually impossible for many with an entrepreneur spirit to invest a lot of money in business startup. This is why we have created this guide. Here, you will be introduced to 5 smart internet businesses you can start for $50 or less. Regardless of your financial situation, $50 is a relatively low amount. This is especially true when you look at that $50 as an investment into your financial future; an investment that has the potential to make you thousands upon thousands of dollars in return.

The Advantages of Starting an Internet Business
If you are seeking business ideas so that you may start your own business, you already know that the internet has completely revolutionized the way in which individuals – and, the world as a whole – conducts business both locally and globally. Whether a business is engaging in tasks such as obtaining information on their competition, promoting their brand through social media, or simply setting up consumer promotions on their sales page, utilizing the internet is highly advantageous. Starting a business on the internet is a cost-effective way to sell products and/or services to consumers. The World Wide Web is a virtual window to the entire world, which allows you to reach consumers around the globe. In addition to this, communicating with consumers is simple, quick, and inexpensive. Now that you know and understand the advantages of using the internet to start your own business, it is time to introduce you to the 5 smart internet businesses that you may start for $50 or less!

Freelance Specialist
When it comes to inexpensive business ideas, freelance is at the top of the list. While many may not consider freelance work as a legitimate business, it actually is and is constantly in demand – not only among individuals, but other businesses, as well! Depending on the education, skills, and experience that you have, you have the potential to offer your services to multiple companies across many industries. As a result, you will find that your work offers a large level of flexibility and a general change of pace that is highly refreshing. Content creation, photography, website design, and technical services are among the most popular types of freelance work available today on the internet. If you want to start your own business for $50 or less, you may use these business ideas to get started!

Social Media Consulting
Social media is quickly becoming one of the best and most respected venues for businesses that have a desire to market their products and/or services, advertise their company, build their brand, and build their customer-base. A social media consulting business will allow you to setup and/or operate or maintain the Facebook, Twitter, and LinkedIn accounts that they own. Essentially, you are responsible for creating and customizing a social media strategy for each of the businesses that opt to hire you and act on that strategy.

Retail
Billions of people shop online on a regular basis. If you are searching for business ideas for $50 or under, you may want to consider going into retail. This is a relatively easy way to start your own business. You simply create an online store where you sell a certain type of product – such as cell phones, organic pet food, or health supplements – and then promote that business through social media platforms and other venues. In doing so, you have the ability to attract customers from all around the world. You simply need a web host, e-commerce software and/or capabilities, and a website. Then, you place your products on your website and promote!

Gift Creation Specialist
Each year, every single person around the world celebrates a birthday, a holiday, and other types of special events. This means that there is a very high demand for individuals that specialize in gift creation – especially custom gifts. You may take pictures and create memory movies on DVDs. You may have an artistic inclination that allows you to draw and/or paint an image of someone on canvas. You may be able to write a story, illustrate it, and transform it into a memory book. You may be able to create customized clothing pieces, or be able to take pictures of special events, such as graduations and weddings. You simply take a talent that you possess and transform it into a business where it may transform into a form of income.

Resume Creation Services
When it comes to business ideas that you may start for $50 or under, resume creation services is a very popular option. In today’s world, a resume could mean the difference between gaining employment and standing in unemployment lines. As a result of this fact, many individuals are turning to resume creation services in order to ensure that they stand out among applicants. If you have a knack for building resumes and a passion for helping people, this is one business that you should consider.

Conclusion
If you want to start your own business, there are many ideas fore internet businesses to start. If you are limited to $50 or less as an initial investment, the options listed in this guide are sure to set you up for a good start. All it takes is a little research, an inventory of your education, skills, and experience, as well as a little bit of creativity, and you are sure to come up with business ideas that are perfectly suited for you. Remember, always pursue your passion. In doing so, the profits are sure to follow!

Filed Under: Career, Faith and Finances, Small Business Tagged With: ,
banner