By financen | February 9, 2019 - 6:34 pm - Posted in Money and Banking

Many people out there are looking for ways to come up with some extra funds. This article will show you how to make extra money without picking up another job.

Become a Flipper!

There are many different ways to find items on the cheap that you can turn around and resell at a higher price. This is often referred to as “flipping.” There are many different ways to find cheap items. You can do this at yard sales, garage sales, flea markets, Craigslist and more. Then once you find a good deal you can turn around and flip the same items for a higher price on eBay, Amazon or the Facebook Marketplace.

Gary Vaynerchuk has made flipping very popular. He actually videos himself going to yard sales early on mornings during the weekend and shows what kind of haul he can come up with. He even shows what type or profit he makes from the stuff compared to how much he bought it for. Here is Gary V’s guide to flipping.

Flipping stuff is a very easy thing to get started with. All you need is a few bucks and get out there on Saturday morning, start pounding the pavement and make it happen.

Start a Business

Whoa, whoa, whoa! You were only looking to make a little extra money, not start a business! Well, there are a few small business opportunities that cost very little to start up and can result in getting cash in hand fast.

One of these examples is a lawn care business. This is a great opportunity because, let’s be honest, most people do not want to cut grass. Also, even if they don’t hate cutting grass, if someone knocks on your door and offers to cut your grass, how in the world do you say to no to that?

As far as building clients, odds are you can pick up your first few through asking family and friends. A simple Facebook status might be able to net you another client or two. Then you do a stellar job with your lawn care service and then you have a few more referrals trickle in. Whether you’re looking for an extra $50 or $500 a week, you can easily make either of those happen with a lawn care business. Here is a guide on how to start a lawn care business.

If you’re not into grass cutting, that’s understandable. Some other possibilities include dog walking, painting and freelance writing.

Make Money Selling Other People’s Stuff Online

Did you know you can make money selling stuff from Amazon, even when it’s not your stuff? If you haven’t, it’s called affiliate marketing. When you join Amazon’s affiliate program, it allows you to create links to their products and receive 4% to 8% commission on each item you sell.

There are loads of ways to make money as an affiliate. Clickbank is a site that allows people to sell digital products and receive huge commission for each conversion. eBay offers an affiliate program. Commission Junction has loads and loads of different vendors that allow you to sell your products in exchange for commission.

If you would like to learn more about affiliate marketing, check out this website.

What Are You Waiting For? Get Started Today!

One thing is for sure: you are not going to make any money until you take action. Figure out which of these options is best for you and get started today!

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By financen | January 15, 2018 - 5:08 pm - Posted in Budget, Money and Banking

Eric Roberge is a financial planner at Beyond Your Hammock. He gives a valuable budgeting advice:

“The key is to take action and use a system to help you stay consistent in managing your money every month, and making sure you’re covering your expenses, being responsible by saving for tomorrow, and giving yourself some room to enjoy life today.”

Budgeting has become a necessity since the commercialization of products, and traveling culture is being excessively promoted.

2018 is already here! Household Budget spreadsheets are good to start your new year with; that involves all your important financial goals, income and expenses, and savings and investments.

Here’s a guide to planning your yearly budget and the reasons why you should think about budgeting your finances.

50-20-30 Rule

The famous budgeting rule has helped millions of people to manage their finances without getting into a loss. It involves three categories of expenses:

50% of Income: It should be spent on necessities and living expenses. It involves billings, rents, groceries, and transportation.

20% of Income: It requires fulfillment of financial goals that include investments, debts, and saving.

30% of Income: It’s the best part of spending which you can invest in your wants and wishes. It’s the flexible spending part of the income.

Reasons Why Budgeting Is Important?

Your neighbor may be able to afford $5000 per month but not necessarily you. Everyone’s income and expenses are unique. So, we all have to budget our salaries to understand the limits of expenses in the three spending areas of 50-20-30 rule.

  1. To set priorities:

Budgeting helps us in setting the priorities based on necessities, flexible spending, and financial goals. What debts have to be paid urgently? What needs have to be fulfilled first and foremost? What are the wants and desires that come at the top of the list?

When we are clear about our priorities, we are easily able to skip the excesses. No matter how much the sales with a 50% off tag are attractive, we have a vivid vision of our goals.

If getting out of debt is among your priorities, it’s essential to manage your limited funds and cut back on excessive expenses.

  1. To achieve the annual financial goals:

Achievement of financial goals begins with understanding the structure of your earnings, spending, savings, and investments of the previous years. Many banks provide you with a record of all your bills and payments throughout the year. Collect the credit card, bank and income statement records to get an overview of your spending.

Set the financial goals in terms of debts, investments, and savings for achieving the flexible goals. Once you budget your money perfectly, you can even achieve more than the estimated financial goals.

  1. To save and cut off excesses:

Money management begins with budgeting. Once your yearly spreadsheet has been made, you can save more than required.

When we are clear about our needs and wants, we can cut off the wants and save the money. It appears difficult at first but then becomes a habit.

A simple life of a minimalist is free from a lot of clutter. It can allow you to plan your travel ventures around the globe. After all, who doesn’t want to explore the world? Who doesn’t want to experience the change?

  1. To plan the retirement:

Having a foresight for future is of imperative importance. Always plan out well your retirement beforehand!

Retirement should be included in the budgeting process. From your overall savings of the year, set aside a percentage of earnings for after-retirement years.  For considering to invest in bitcoins and to put them into your retirement account, you can get more information here.

  1. To fulfill the desires:

If you had a dream to travel the world but could never achieve it, budgeting is a good solution for you. Budgeting your money can save you a lot. Statistics reveal how much we spend on our wants rather than on our needs.

Being aware of your spending is the key here. I guarantee that you can fulfill all your dreams.

A lot of people ignore the significance of budgeting and run into debts. Money management is an additional skill that you can learn to make your life easier and happier.

Author Bio:

Sarah Smith has been a personal finance author for the last five years. She is also an independent and a very passionate finance and investment advisor. She regularly posts at www.personalincome.org/

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By financen | November 22, 2017 - 6:04 pm - Posted in Money and Banking, Save Money, Savings

Here are the leading tips for saving money on your next broadband deal.

1) Bundle Items:

The best way to go is to set up a broadband bundle because it will reduce the rate you end up paying. For example, do you have a TV and home phone deal with the same supplier? What about your mobile phone? This is an excellent way to bundle them together for a cheaper deal. However, the one issue is you will not be able to compare prices while doing so. This is why you have to keep an eye out for potential discounts.

2) Compare:

It is important to look at the options out there for your needs.

Are there other cheaper Internet providers in the area? Use a price comparison site to help out and make your life easier.

Some of the ISPs you should be researching include Sky, TeleTalk, Plusnet, EE, BT, and Virgin Media. Check uSave for the best prices.

3) Increase Contract Length:

This can be a good idea for those who are setting up their contract. You can aim for a longer term as this settles the agreement and makes it easier for the supplier to reduce your rate. They will want a customer for longer, and this is the best way to entice them to lower the price. For example, you could end up getting a far better deal on an 18-24 month contract in comparison to a monthly agreement.

4) Decrease Broadband Speed:

What is the maximum speed you require? You can look to aim for a lower Mbps speed as it won’t cost as much. It is all about recognizing the speed you need and what they are giving to you. Some may market a higher speed but deliver far less making it useless to pay more. You need to think about fiber rollouts too and ensure this is incorporated into what you are getting at home.

5) Assess Usage:

Cheap broadband deals tend to reduce your download limits or don’t give you a high allowance. ISPs aren’t going to put restrictions in most cases, but it can happen so keep an eye out for this as soon as possible. You don’t want to get duped with a proper limit that isn’t in line with your usage patterns. For example, they may end up giving you only 1 GB per month when you need a lot more. This is why you should go for an unlimited package as it will save you a lot of money that may have gone towards usage costs.

6) Find Deals:

You need to look for monthly deals that are appealing and targeted towards new customers. This is how you can get a better deal at the “true cost.” You want to think about all costs such as installation, activate, hardware, and delivery before figuring out what a fair deal is.

This is where a lot of people look for freebies such as free routers in the deal. This can be an excellent way to save.

7) Find Hidden Fees:

Are they putting hidden fees in their agreements?

You want to look for these details before you are docked extra money for moving properties or getting a new line. This is something you should be looking to negotiate with customer service before they charge you. If not, you should look to go with someone else as soon as you can.

Always compare rates and see what they offer for free.

8) Aim for Freebies:

Always look to get your hands on freebies because they will offer them to you in a good deal. Things such as tablets or game consoles may be up for grabs if you look for them. This is great for those who want to get a cheaper deal and may like the idea of a freebie. Even if you don’t want the freebie, you can flip it for cash down the road. This can help reduce the rate you are paying even more!

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By financen | October 11, 2017 - 4:44 pm - Posted in Money and Banking

While the recent global economic downturn affected the United States real estate market particularly hard, no nation in the world was really immune from feeling its effect. America never closed for business, however, and now many argue that is has rebounded to the point that exponential growth will begin to be realized sooner rather than later. Much of this growth will be seen in the real estate sector, as stalled building projects resume, and massive plans for renovation begin to take off once against in earnest.

Real Estate Continues to Rock the Investment World

Just a year ago, industry estimates revealed that more than seven percent of all residential real estate activity in the United States was being funding with investment dollars from abroad. Investors from Mainland China accounted for more than $15 billion in this industry alone. It is estimated that this figure will continue to grow by 20 percent annually over at least the next decade. Much of this renewed interest from overseas investors interested in the American real estate market can be attributed back to the global economic downturn. Many of the investors of the world have lost money via currency depreciation in their own country, so they are looking to the United States as a safe haven for their money, and real estate is seen as a good sector to begin. The interest is ripe in terms of residential homes, second homes, commercial properties, and medical facilities. In short, the real estate crowdfunding platform is not only service to get many projects off the ground, but the money flowing in is spreading the potential wealth around the globe.

Fundrise Reviews reveal that the coming years will be exciting for real estate crowdfunding platforms, both domestically and internationally. The world continues to grow at an unprecedented rate, and there are many real estate projects just waiting to get off the ground. While some stricter regulation will likely come into play and countries begin to deal with this influx of money, the reality is that international investors have another option to look forward to and consider. The number of platforms operating in foreign countries should continue to grow, as should the amount of foreign money coming into the American real estate market.

Average Investor Are No Longer Left Behind

The beauty behind this type of investing is that average people can now get involved in massive real estate projects. Fundrise and other crowd funding platforms operate on the notion that real estate investments should be open to the mainstream global population. With a Real Estate Investment Trust (REIT), it is possible to own a stake in virtually any type of real estate property imaginable. With pools of investors coming together, projects are more easily funded as well. This has the propensity to revolutionize the manner in which new projects and remodels are completed moving forward.

If you have been looking for a way to invest in real estate, you will want to give this method serious consideration. Funds are stable and there is a wealth of information available online to help guide your investment decisions. Talk to your financial advisor or speak about it with other investors who have already gotten involved in crowdfunding to see what the fuss is all about.

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By financen | October 8, 2017 - 4:34 pm - Posted in Money and Banking

Children start learning from the age of 2 or 3; they learn from the environment they grow up. Responsible parents provide them with a healthy learning environment and instil an enthusiasm for learning into them.

But there’s something that even the most responsible of them tend to ignore, which is, teaching kids about money. According to child psychologists, kids should be taught about money from a very tender age.

A tabula rasa

Such is the mind of a child, and what’s intriguing is the initial scratch marks that disturb the blank state, stays there forever (Maybe not forever, but for a very long time). Whatever education a child receives, be it good education or bad education – stays with him.

If parents are extravagant or irresponsible with money, so would be their kids. The learning styles of children are unique, their learning circuits are more active than their parents could imagine. They learn from everything around them. So parents need to act responsibly with money, and follow the tips given below:

Play money games

One way to make kids responsible with money is playing games with them – games that are apparently silly but has a deep and sublime lesson to deliver, a lesson that relates to money.

One such game is coin identification. The game is played with toddlers, who learn to distinguish between nickel, dime and cents. Kids remember the names of the coins and the symbols on them.

Games that involve savings are more helpful; those games should be played with 5-year olds. Kids should be given a target of savings. If they succeed in meeting the target, rewards should be handed to them. Rewards serve as motivation. Playing such games at an early age can turn kids into habitual savers when they grow up.

Affordability signals

Kids have an innate ability, they can sense anxiety, disapproval, anger and other negative emotions in adults. They even react to those emotions. If parents display negative emotions while dealing with money related matters, kids will learn it, which is why, parents should never give negative affordability signals.

What type of signal is negative affordability signal? Kids often ask for toys or superhero costumes, which are expensive; their requests meet with rejection. When they ask parents why are they not buying the stuff, parents reply they can’t afford it. Such replies are negative affordability signals.

Instead of giving such replies, parents should tell their kids that they can buy it, but choose not to buy because there are better and wiser ways to spend money. What are those ways? You may ask. This takes us to our next point:

Good and bad investment

Children should be taught about good and bad ways to invest money, so that they don’t take wrong investment decisions later in life. When conversing with an adult, you can describe an investment as good or bad investment in terms of the result it produces – profit or loss. But with kids, you need to take a separate route.

Describe safe investments as good investments and unsafe investments as bad investments. This is by far the most logical way to categorize investments. Tell stories to your kids and let them process those stories.

Tell them stories of stock market investments, how sloppy investors ended up broke overnight. Tell those stories to your kids painting risky investments as bad as safe investments as good. But there’s a risk that such stories will make them risk averse. How to eliminate the risk?

Struggle and wisdom

You can eliminate the risk if you connect money to struggle and wisdom. Teach your kids the truth about money, that earning money requires a lot of hard-work and wise investment decisions.

True, there are shortcuts, but shortcuts are either ethically wrong or legally wrong or both. Your kids may have a penchant for quick ways to earn money and the media and the pop culture may fuel it, but if you convince him that choosing shortcuts can never lead to financial freedom, then he might eventually suppress his proclivity for shortcuts.

Once again, tell him stories of successful people whose struggle and perseverance have led them to success. Such people are Warren Buffet, Bill Gates, Chris Gardener, Steve Jobs, etc. Buy your kids books that highlight on the motivational aspects of rich people, so not only their wealthy lifestyle but the ladders they climbed be known to your kid.

It takes time

The purpose of teaching kids about money is make them equipped to handle money-management in their adult life. This is a complicated process and will take time. Responsible parents need to act patiently and monitor the progress. The tips given above can be of help.

Article contributed James Paul – A personal finance blogger at Basic Finance Care, who loves to write about money management and saving habits.

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By financen | June 25, 2017 - 3:23 pm - Posted in Money and Banking

Many people dream of breaking out from the day-to-day job they currently have and becoming their own boss because of the promise of making more money and being in charge of their own lives. You know, a lot of those people end up back in a 9-5 job within 3 years because they didn’t have what it takes to make it as a business owner. Sure, a lot of people start and run successful businesses, but if you aren’t interested in taking a jrisk you might want to consider how you can make more money in the job you have right now. Here are three ways you can make more money in your current role, without having to get a second job.

make money onlineBoss for a Raise

Yeah, yeah. It sounds so simple. Imagine if you could just walk up to your boss and ask for more money. Well, why can’t you? Get a good pitch together, list some recent accomplishments, talk about how hard you have been working for the company, talk about your loyalty and dedication, and just ask for the raise. It’s best if you have a dollar figure in mind. What’s not best is if you lay a sad story on your boss about how you need to make more money or you’re going to have to file for bankruptcy. Your boss doesn’t want to hear about that; bankruptcy firms like Doyle Salewski wants to hear about that, but you boss doesn’t.

Ask for More Responsibility

I once worked for a doctor who paid a cleaning company to come in once a week and clean the office and exam rooms. I approached her and asked if she would pay me instead. So once a week I would stay for a few hours after hours and clean the office. It was a decent amount of money and really helped to pad my bank account. If you take on more responsibility, make sure it is clear you want to be compensated for it.

Find a Gap and Fill it

One way to make extra money at your current job is to tap into skills you might not even realize are worth money and offer to act as a consultant to your current employer. You can bill them for the added work you do, and you never have to leave the office to make more money. It’s best if you have a clear contract in place when your employer becomes your client, and there are some risk factors at play here, but if you are serious about it, consult a lawyer and make your contract tight. Instead of paying an outside firm to consult, they can pay you a little more money and get way more in return.

Before you go knocking on doors looking for a part-time job, start with what you know. I once approached my boss and said I was going to look for a part-time job, but thought I would ask if he needed any additional work done around here that he was thinking of hiring someone to do. If you have a multitude of skills or experiences to draw on, like I did, you can land yourself in a better financial situation in no time.

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By financen | April 16, 2017 - 10:43 am - Posted in Credit, Money and Banking

When you’re fresh out of college, you are ready to start doing big things like get your first “real” job and buy your first home. You may need to buy a car, or you may want to start your own business. But in order to do some of those things, you’re going to need financing, and as a young person, you’re likely to find the process difficult and maybe even a bit confusing. You may start having this problem even earlier, like when you try to get financing to pay for college or to buy a car.

It’s important that you know what to expect with financing. Here’s a look at some of the most common financing types to help you understand where to start and how to build your credit:

Short-Term Loans

Short-term loans like installment loans online are a common source of funding for students and other young people. Some short-term loans cause more trouble than they’re worth, such as payday loans that have excessive interest rates. Installment loans are personal cash loans that have minimal requirements. You don’t have to have any credit – you just have to have a verifiable source of income and some other documentation. You can get small amounts – up to $1,000 or more, depending on the lender – which you can use to handle emergency needs, like fixing your car or making up the difference on a semester’s tuition.

Credit Cards

Credit cards are another popular form of financing for young people since they are easily obtainable. Some providers want you to have a little credit history before they will approve you, but others provide cards with low credit limits for those with no credit. Gas cards and store credit cards are the easiest to get, and they usually have limits of just a few hundred dollars.

CreditCredit cards are also popular because they give people the freedom to buy whatever they need. However, students often overuse credit cards, so they should exercise caution with them. The high interest rates make it very hard to pay them back. Getting that first credit card can be an easy way to build credit, but if it’s misused, it can also bring down your credit.

Student Loans

Student loans used to be easier to get, but with so many defaults and the weaker economy in recent years, lenders have gotten tougher. You’ll most likely need a co-signor like a parent who has great credit to get approved for a student loan. You won’t have to pay anything on the loan while you’re in school, but six months after graduating, you could be looking at some hefty bills.

Fortunately, interest rates are typically low on student loans, but the monthly payment can be quite high if you borrowed a lot. You’ll have the ability to get on a structured repayment plan or to defer your payments if you find yourself struggling, but student loan debt can almost never be discharged. That means you’ll be on the hook for that debt until you pay it off. Borrow wisely.

Auto Financing

If you’ve used credit cards responsibly during your time in college, you may have enough of a credit history to be approved for auto financing to buy a car. Lenders will also consider your income when they review your application, so if you have a nice-paying first job and you have some credit, you have a better chance of getting approved for a moderate loan. But if you’re trying to buy a BMW on an average starting salary, you can forget about it.

Mortgage

Mortgage

Buying your first home is a momentous occasion, but you’ll have to have a lot of credit history to get approved. Mortgage lenders take a fine-tooth comb to your financial portfolio when considering your application. They will look at your job history, your credit history, your outstanding debt, and other financial issues. You must have a good history, a strong down payment, and a low debt-to-income ratio. The best thing you can do when you get out of school is start saving for your down payment and be sure to borrow responsibly.

Building your credit can be easy, but you have to take it slow. Start with small cash loans when you have an emergency, and use other credit cards and loans strategically to get what you need while building a positive payment history.

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