Creative Ways of Covering Surprise Expenses

For many people, living on a tight budget is the norm. You may barely make enough money to pay for your regular expenses with limited income each month. However, there are often times when unexpected expenses arise, such as vehicle and appliance repairs, insurance deductible, medical bills and more. These can create a true financial burden on your budget. If you are facing unexpected expenses today and are stressed out about how you will make ends meet this month, rest assured that you may have a few solutions available to consider.

Use Your Savings Account

Your savings account should be your first line of defense for dealing with unexpected expenses. Many people have at least a modest rainy day fund available. Your savings account may be used to pay at least a portion of your unexpected expenses. However, many people do not have a high balance in their savings account, and because of this, you may be looking for additional methods to pay for your unexpected expenses.

Turn to Your Credit Card

A credit card is a great financial resource to turn to when you need extra cash. If you do not currently have a credit card, now is a great time to apply for a new account. You can use the available credit limit to make charges. If your unexpected expenses require you to have cash available, you may be able to take a cash advance out on your available credit limit. This can be an expensive option to consider, so you should use credit and cash advances with care.

Ask for a Payday Advance

If you are on good standing with your boss, you may consider asking for an advance on your next paycheck. Some bosses may be more than happy to do this for you, but you should use this option with care. The last thing you want is to constantly be asking for an advance on your next paycheck. Also, be aware that this does not give you extra money. It simply gives you the money you would have earned sooner. You may still need to find some extra money to access to pay for your extra expenses this month even if you can get an advance on your next paycheck.

Sell Your Unused Items

You can also consider selling your unused items to get access to extra cash. Many people have items of value lying in their drawers, closets, attics and other spaces. Take a closer look at your belongings as you walk from room to room. By selling some of your items, you may be able to easily raise hundreds of dollars or more.

Pick Up Side Jobs

Another smart idea is to pick up a side job. Consider your time availability and skill set as you explore odd jobs you can do to earn extra money. For example, if you have a lawn mower and a few free afternoons, you can ask your neighbors if they are interested in your mowing services. If you have friends in need of childcare, you can offer to watch their kids for a few years to earn extra money.

Get a Car Title Loan

If you have significant equity in your car, you may be able to tap into that equity through a car title loan. This is a special type of auto loan that has a short term, and most need to be repaid in full within 30 days. You may be able to obtain a few hundred dollars or more through a title loan, and this may be just what you need to make it through this rough patch. Read the terms carefully, and have a plan to pay off the loan.

As you can see, there are many financial solutions available to you. It may be smart to explore multiple options and even to combine a few ideas for the best overall results. If you need cash urgently, there is no better time to begin exploring the options than right now.

Nine Habits of Effective Savers

Saving money is easier for some people than others because they know how to pinch a penny until it screams. You don’t have to be a miser to have an emergency store of cash in the bank though. All it takes is copying a few of the habits of highly effective savers. Read on for nine of them that work wonders for building up savings accounts.

  1. Involve the Kids

Getting your kids involved in the process of saving money helps curb demands for expensive, unnecessary items each time that you head to the store. Give them a small allowance for chores done around the house, and encourage them to save their own money up for things that they want.

  1. Treat Savings Like a Bill

Though it might seem like a burden at the time, always consistently contribute to your savings account. Even if all you can afford is a few dollars, be sure to set back this amount as if you are paying a bill.

  1. Don’t Wait

Never wait until an emergency financial situation has come up to begin a savings account. There is never a guarantee that the money that you will need for an emergency situation will be there in the form of a loan or bail-out from a friend or family member. Hard times hit everyone, so always set aside a fund just for emergencies far in advance.

  1. Prioritize Your Spending

Make a list of all of your current expenses. Be sure to include everything, including the items that are very minimal in cost. Then, decide which of them that you need and which are not as important. This exercise forces people to make tough decisions about their spending, so they can see how much they have been wasting on frivolous items.

  1. Determine Your Triggers

Each time that you spend money, make a conscious effort to analyze why you are choosing to make a purchase. Is it because you are lonely or bored? Do you feel depressed or anxious? Many times people attempt to cover up their feelings through buying things that they don’t need. Smart spenders habitually stop and put unneeded items down before they reach the check-out counter if the items are being purchased because of an emotional trigger.

  1. Increase Your Income

If the reason that a person can’t save is because they simply don’t have enough income coming in, then it might be time for a second job. Effective savers always look for ways to bring in extra money that they can put back for later.

  1. Get Organized

It is difficult to save if you don’t know what bills are due or how much you even have in debt or expected expenses. So, put your bills and income receipts in file folders instead of piling them up in a shoe box. Also, make your own payment and income schedules, and keep careful watch over them. Staying organized in these ways will help you notice when expenses are increasing, so you can find ways to trim them back.

  1. Find Frugal Friends

It is hard to save money if you have friends who are big spenders. So, try to spend time with those who will support your efforts to limit entertainment to ways that are free. Fellow savers can give you great advice and teach you ways to to save more money too.

  1. Fix Your Credit

Poor credit will make getting a loan at a good interest rate next to impossible, which means you will end up spending a fortune more than you would have to. Skyblue credit repair can help to remove negative items that could be lowering your score.

Save Money News – Millennials Learn How to Save up Money, Even When Their Funds are Limited

Save Money NewsIn recent save money news stories, information has been released on how Millennials are learning how to save up money, even though they do not have a lot of money at their disposal. According to studies, the Millennials throughout the nation have the lowest net worth of any other generation that is of working-age. Based on statistics, half of all of the adults between the ages of 18 and 34 have a net worth of less than $11,000.00. Additionally, the average income of the Millennials is also considered to be the lowest in the nation, at approximately $35,000 or less, annually. Given the fact that this age group faces the largest amount of complications with the job market, has a surprisingly large amount of student debt, and are typically individuals that are only able to acquire part-time employment, it is no wonder that so many are having issues when it comes to saving money. If you are a Millennial, you should continue reading this guide. Here, you will learn how to save up money, even when your funds are limited.

Dividend Reinvestment Plans (DRIPS)

One of the most popular ways that Millennials may invest the little bit of money that they have available is through dividend reinvestment plans. This will allow you to purchase very small amounts of stocks directly from a company. Once you have done this, you may then reinvest the dividends that you obtain from those stocks. As you reinvest, it will increase the value of the assets that you possess, over time. This may be a relatively slow method of increasing savings through investments, but, it is a financially secure means of learning how to save up money, according to save money news articles that are currently in circulation.

Exchange Traded Funds (ETFs)

If you are a Millennial that wants to engage in an investment that has a much more productive balance risk than dividend reinvestment plans have to offer, you may find an interest in putting your money into exchange traded funds. These funds allow you to experience substantial financial growth, as time progresses. These types of funds are known for tracking a wide assortment of indexes and various sectors. Exchange traded funds pay dividends, which will allow you to earn additional money each year. Due to the low expense and no minimum investment, this is a wonder way to learn how to save up money for Millennials that lack a lot of savings!

Conclusion

It is not at all uncommon for Millennials to find themselves limited on funds to invest, according to save money news articles. As a result of this fact, this group of people must be creative in their investments. If you are a Millennial that has a lot of student debt, a low income, or are experiencing employment issues, do not allow that to deter you from engaging in investments. The two most productive options that you have at your disposal include dividend reinvestment plans and exchange traded funds. These investments do not require a lot of upfront cash, but, have the potential to render generous profits, over time, based on information in current save money news articles and guides.

How Everyone Can Afford to Own a Boat

boat1When regular people think about the hobby of boating, more likely than not, they imagine wealthy people, mimosas in hand, enjoying the sun and surf on their 40-foot yachts. For most people, maintaining this type of luxurious hobby is out of the question budget-wise. However, the truth is that boating can be as affordable as it is gratifying — if prospective boat owners are smart in how they save and spend on their vessels.

Owning a boat certainly isn’t cheap, but for those who are enchanted by the hobby and savvy with their budgets, boating can be reasonably priced and particularly rewarding.

Saving for a Boat

Saving for a boat is just like saving for any other major investment, like a house or a car. Before you start putting money into an account, you have to understand how much you already have available and how much you are willing and able to part with. Then, you should calculate how much your dream boat (or the affordable version of your dream boat) costs and evaluate how long you have until you want to get out on the water. With this information, you can instigate a savings plan that will help you accumulate enough money for your sailing dreams.

The most effective way to stay true to your savings plan is to make it happen automatically. For example, you should ask your employer to directly deposit a portion of your paycheck into a separate savings account. Then, you won’t eat into your boat savings when you dine out or go shopping because your money will be stashed in a separate account from your everyday expenditures.

However, there are dozens of other ways you can get in the habit of saving your money. For instance, you can:

  • Collect the coins from your wallet, purse, sofa, and car and keep them in a jar to be added to your boat savings.
  • Cut down on bad habits, like drinking, smoking, and retail therapy, which have a high price tag.
  • Avoid falling victim to coupon scams, which can trick you into buying items you don’t need.
  • Sign up for credit cards or rewards cards that have useful benefits.
  • Never punish yourself by saving; i.e. you shouldn’t necessarily diminish your current lifestyle in pursuit of a boat

boat_girlBuying a Boat

Before you start saving, you should do research into exactly what boat you want — after all, an inflatable isn’t going to cost nearly as much as a motor yacht. While you consider your ideal make and model, you should also entertain where and from whom you will buy your boat. Certain vendors can make a substantial impact on the price of vessels, so it is important to consider multiple sellers before you put money down for a certain craft.

A brand new boat may be the most desirable, but it certainly isn’t the most cost-effective choice. Like cars, boats begin to depreciate in value as soon as they leave the showroom, so you may be able to find a vessel that is barely a year old but costs more than 20 percent less than a new version. If you are open to the idea of a refurbished boat, you should also look into boat donation charities, who restore old boats and resell them at astoundingly low prices to benefit the community.

Maintaining a Boat

Owning a boat carries almost as many responsibilities as owning a pet: You must feed it (fuel, not kibble), wash it, and take it out every once in a while to ensure it runs healthily and happily. Unfortunately, all of these responsibilities require small additional investments in your vessel which can add up over time. However, there are a few tips and tricks at keeping maintenance costs low in the long run.

First and foremost, you should never neglect your boat’s most important parts: the hull and the engine. If either element falls into disrepair, you will face a choice between spending thousands of dollars in repairs or spending about as much on a new boat. You should be familiar with the necessities of your boat’s engine, including fuel, oil, and various fluids, and you should be diligent in keeping the hull painted and sealed.

For the most part, cleaning shouldn’t be an exorbitant expense. You can make plenty of boat cleaners with household ingredients, like vinegar, baking soda, and water. Additionally, most boaters agree that most cleaning needs are moot if you remember to give your boat a freshwater wash down after every use.

Other boating fees, including marina storage and insurance payments, may not be negotiable, unless you are willing to downsize your dream boat. However, if you have worked hard to afford your craft, you should find it easy to part with the nominal monthly fees that allow you to enjoy such a worthwhile sport.

 

Faith-Based Financial Advice for Families

bibleIn researching faith-based financial advice for families, you will find that there are several books, guides, articles, and other types of informative sources available on the topic. Proper management of your monetary resources and living within your means are the two most essential elements in today’s world for Christian families that have a desire to live abundantly and experience a high level of happiness. The Bible teaches us that we should grow wealth with a unique purpose, protect your wealth, and share your wealth with the people of God. In this faith-based financial guide, you will be introduced to several time-honored pieces of advice that will assist you in doing all of that, and more!

  1. The first step to financial security is to ensure that you and your family pay a tithe that is honest. Tithing and offerings should be the very first financial obligations that you contend with upon receiving your paycheck. Not only will you bless others in your tithing and offerings, but, God will also bless you!
  2. The next faith-based financial step is to learn the steps to managing money so that money does not manage you. According to Christians, financial peace does not stem from the amount of money that we make, but rather, from how we spend the money that is at our disposal. A positive attitude and relationship should be developed towards money. Openness and trust among family members and the management of money is imperative.
  3. The third piece of faith-based financial advice is to ensure that self-discipline and self-restraint is practiced, at all times, when it comes to matters associated with money. The needs of your family should be considered before individual needs. As a result, fewer bouts of impulsive spending will be experienced. Management skills, as it pertains to money, should be learned – as a family – with a spirit of high cooperation and love.
  4. As a faith-based family, you should always strive to create, maintain, and use a budget. It is essential for all family members to have an understanding of how much money will be available each month, the monthly financial obligations, and how any extra will be used or saved.
  5. Finally, it is important for you to save a specific amount of money each month and invest that money into an endeavor that will allow it to grow in a safe manner. Investments are highly critical because they provide future funds to make family purchases and allow families to cope with unexpected financial complications, with ease.

Conclusion

By utilizing the faith-based financial advice contained within this brief guide, you and your family will be adhering to the basic financial principles outlined in the Holy Bible and the religious-based doctrines of your faith. God has entrusted each of us with a certain degree of money. In most instances, that money comes from income received through employment. The money in which you are entrusted must be respected and handled effectively. The five simple steps outlined here will allow you to respect and handle your money in the best possible manner for your financial future.

Easy Ways to Save on Travel Expenses

save-on-travel-to-greece

Save on Travel – Easy Ways to Save on Travel Expenses to Greece

There are numerous ways to save on travel available for those that have an interest in visiting various locations around the world. In today’s world, the “Bucket List” is becoming increasingly popular. This has been especially true since the release of the American comedy-drama movie, “The Bucket List”, in the year 2007. Essentially, this type of list outlines the achievements, experiences, and travel adventures that an individual hopes to have, experience, and/or accomplish during their lifetime. In evaluating the bucket lists of several people, it has been established that one of the most popular travel destinations is Greece. If this is on your bucket list, it is quite likely that you are a bit concerned about how you will finance your travels. In this guide, you will learn about discount travel tips that will help you fund your trip for less, as well as other travel ideas that will help you in checking off this adventure on your bucket list.

Why Visit Greece?

Greece is a region that combines highly diverse landscapes, a wide array of cultural experiences, and varied assortments of activities. There are a plethora of reasons why a trip to Greece is considered to be ideal. The unique culture and the awe-inspiring beauty of the spectacular landscapes will leave you thoroughly amazed. There is always something unique to see, to taste, to explore, to discover, and to feel. You have the unique ability to expand all of your senses in a location where all of the elements of nature offer you countless experiences and adventures. The climate conditions are considered to be ideal, year round. Greece offers you the ability to observe beautiful islands, pristine beaches, amazing grand forests, and mountains covered in snow, all at once. When it comes to travel ideas, there are plenty in Greece. This is an amazing and rewarding travel destination for anyone with a bucket list.

Discount Travel Tips

According to research, Greece is considered incredibly affordable. In fact, it has been established that food, accommodations, and other things within Greece cost approximately half of the same things within other regions of Europe. If you are searching for ways to save even more money on your trip, consider the following discount travel tips:

  • When searching for accommodations for your stay, opt for dorms instead of private hotel rooms. On average, a dorm will only cost $15.00 per night, whereas other rooms cost at least $45.00 per night.
  • Choose to visit Greece during its “off-season”. In doing so, you will find that you are able to experience more and save more money on accommodations. During these times of the year, private hotel rooms typically cost approximately $25.00 per night.
  • You should avoid staying at hotels on the more popular islands of Greece, such as Mykonos. If you do stay on this island or the other popular destinations, you can expect to pay twice as much.
  • If at all possible, elect to purchase your own groceries and prepare your own meals. If you dine at a fancy restaurant, you can expect to pay in the way of $20.00 or more; however, by dining at one of the local cafes, you can cut your meal costs in half!
  • If traveling in and around Athens, opt for the train system as it is incredibly cheap.
  • If you prefer to see Greece on your own time and in your own way, you should rent a moped. These average $20.00 a day or less.
  • One of the best discount travel tips for Greece is to visit areas that are not considered to be on the “beaten path”. In doing so, you will discover a price drop on all items by about 30%.

Conclusion

There are many travel ideas that pertain to a trip to Greece. In addition to this, there are many ways to save on travel that will allow you to make the most of your dollar. In this guide, you have been introduced to several of these tips. If you want to experience the beauty of the white-washed villages placed along the hillsides, the sparkling azure seas glimmering beneath the glistening rays of the sun, and have a desire to walk along the soft white sands of the popular beaches, you will be pleased to know that it is all possible – at a great price. By adhering to the discount travel tips and travel ideas outlined in this guide, you will be able to experience Greece like you never imagined.

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

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?

Saving for Retirement – 5 Steps to Success

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

Erasing Your Debt Can Make You Wealthy

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….

How to Start a Side Business for Easy Extra Cash

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.

banner