Making Money in Your Spare Time

Making money can be very difficult for some people. Even if you have a good job, you may not have enough to pay all of your bills and still have money left over. There’s a way around that, though. You can make some extra money in your spare time.

You don’t need to dedicate all your leisure time to making money, either. Just a few hours a week would be enough. You could use your evenings after dinner or a day on the weekend. It’s not about getting rich or replacing your day job – it’s just about having a little extra. Even fifty or a hundred dollars a week might make the difference between paying a bill or not.

Where Do Your Talents Lie?

Everyone is good at something. Even if you aren’t sure what kinds of talents you have, think about what you like to do. Do people compliment you on your singing voice? Your cooking? Your handy work? The compassion that you have for children or the elderly? You have the potential to make money from your passions, interests, and skills! It’s not as hard as a lot of people make it out to be.

What kinds of hobbies do you have? Do you write? Take pictures? Paint or draw? Can you teach or tutor others? Are you handy? Make a list of what you’re good at and what you enjoy doing sometimes, these aren’t the same things.

Choose an activity from your list and then try these strategies to use this talent to produce income:

  • Advertise your services in the newspaper so you can find people who need help.
  • Post your information on Craigslist, Kijiji, and online classified ad sites where people hire others.
  • Start a website or blog where you can offer your talents and services.
  • Network with others who do the same things, so you can get ideas and advice.
  • Attend community events and hand out business cards.
  • Create a portfolio of your work and start showing it to others.

You never know when you might be able to make a connection that leads to something great. If you’re not prepared, that chance could slip away. Rather than wait for that moment, be ready in advance.

Start preparing now, knowing that making money in your spare time could take a little while. It may not happen overnight, but it will happen when you remain committed to it.

Yes, Attitude Does Matter

Remember that how you act can make a huge difference in whether someone hires you to do something. Even if you’re the best in the business, a bad attitude won’t get you very far. Stay positive, even when you get turned down for work.

Keep your head up and continue to improve. When people see that you’re committed to making money in your spare time and you’re actively looking for work, you’ll find people who will buy from you or hire you to do something. Get letters of reference from people who hire you and use them in your portfolio to show future customers.

Word of mouth is also vital, so do your best job every time. If you make a mistake, admit it, and then work to make it right. People appreciate honesty, and you’ll get more work from those who see that you’re a quality person with the right mindset. These attributes can actually help you go farther than the actual level of talent you have.

So let your talents inspire you, rev up your can-do attitude, and you may be surprised how easy it really is to bring in some extra money in your spare time!

7 Strategies to Increase Cash Flow in Your Small Business

Would your small business benefit from a higher rate of cash flow? It’s possible to increase it through several business strategies.

Try these strategies to increase your cash flow:

  1. Reduce your spending. Decreasing your spending is one way to increase your small business cash flow.
  • The first step to implementing this strategy is to carefully analyze all of your business spending. How much do your office supplies and electrical bills cost every month? How much do you pay for insurance, employee salaries, and other bills?
  • After analyzing your spending, look for areas that can be reduced. However, it’s important to approach spending cuts carefully because pay cuts can drive away employees. In addition, if you try new services to save money, the quality may not be the same.

  1. Extend discounts for fast payments. If you’re trying to encourage your customers to pay faster to increase your cash flow, then discounts for fast payments may help.
  • The discount doesn’t have to be large, but customers may appreciate a small amount of savings. Try several payment plans with different discount levels to reach more clients.

  1. Watch your inventory. Are you investing a large portion of your cash into inventory?
  • Inventory may be the lifeline of your small business, but you don’t want it to destroy your cash flow. The boxes of shirts, candles, or other items you sell shouldn’t sit in warehouses for decades.
  • Find a balance between having enough inventory to satisfy customer needs and having too much.

  1. Raise your prices. Are you keeping up with inflation? You might be able to raise prices on your products and services to keep up with the market.
  • Higher prices can lead to more cash flow, but they may also scare away customers. Find a balance that works for your business and your customers.

  1. Consider collection agencies. Do you have a large number of customers who haven’t paid their bills?  
  • Collection agencies can help you recover a portion of the unpaid bills. They charge a fee and take a percentage of the money. However, you may not have the time to pursue the customers who haven’t paid.

  1. Consider court. For larger amounts, you may have to get a lawyer and take your customers to court for unpaid bills. This is one way to make your cash flow higher because it can force them to pay their overdue bills.
  1. Offer prepayment rewards. You can offer a variety of rewards ranging from discounts to extra products. You can make a special rewards program with gift cards or other items.
  • Customers who prepay for large packages, services, or multiple items could receive extra rewards. These rewards can encourage them to stay and keep buying your products or services.

Your small business may benefit from more cash flow. Creating a customer rewards program with sales, discounts, and other special rewards is always a good idea to expand your customer base and gain loyalty to your business. Incorporate several of these strategies into your business operations to discover what works best for you.

How Much Money is Enough?

If you ask a billionaire, he’ll likely respond that no amount is enough. Others might reflexively say, “One million dollars.” Those that are more thoughtful might have a different number. There comes a point that there might be a better way to spend your time than chasing more money. You’ll never know if you’ve reached that point if you don’t define it.

Studies have shown that happiness doesn’t increase beyond an income of $70-75k per year. That’s a comfortable living in most parts of the country, but it’s not enough to drive a new Mercedes every three years and vacation in Europe with the family every summer. It would be tough to send your child to Harvard on a $70,000 salary.

How much is enough? It depends on you and your circumstances.

Consider how much you need to live fully:

  1. How old are you? How much longer do you expect to live? If you’re 90, you probably require less money for the rest of your life than someone that just turned 30. There are actuarial tables that can tell you how much longer you’re expected to live. Plan to live longer than expected!

  2. How much are your monthly expenses? What would your expenses be if you were living the life of your dreams? Let your imagination run wild. What expenses would you have? A new bowling ball each year or a second house in Vail? A housekeeper? A thoroughbred? It’s your life. Determine how much it would take to finance your ideal life.

  3. Who are you responsible for? Do you have three children that will attend college in the next 10 years? Do you have a spouse that doesn’t work? Do you care for an aging parent? For how long do you expect to financially provide for others?

  4. What is your current debt situation? Do you have 20 years left on a mortgage hanging over your head? Significant medical bills? Credit cards?

  5. When would you like to retire and how much do you need each month to live comfortably? How would you like to spend your retirement? Do you want to travel regularly? Play golf every day? How much would a typical month in retirement cost?
  • Maybe you value your free time above all else and would be happy living a simple life with a Labrador retriever and a large vegetable garden, reading books all afternoon.

  • What toys do you want to own? A plane? A Porsche? A boat? A second home? Swimming pool? Motorcycle?

There’s no set answer to the question, “How much money is enough?” It’s completely dependent on your desires and circumstances. The number might be quite small or very high. It’s your number. If you’ve never considered how much money you need, take the time to think about it.

Money is great for a couple of things: primarily, solving problems and providing choices. It has limited value beyond those two purposes. It’s a mistake to use money for establishing status. To be worried about impressing your peers is best left to your teenager. Needing money for the wrong things is limiting. It requires working longer and harder than necessary.

You could be doing other things with your limited time on Earth.

Think long and hard about what is most important to you. Ensure that you develop an income, savings, and net worth to acquire the possessions and freedom that will allow you to live your life in the way you desire. Spend time addressing this important issue. You might be able to quit working sooner than you think.

Being There

Work Harder Than Anyone Else!

News That Matters to Women and the Men that love Us

Monday, 8/4/14 | Evening Edition

I decided, as woman and as  founder of  BusyGal Corp , I wanted to create opportunities for women to know their worth, know their power, and experience the satisfaction of knowing themselves fully!  My dream is that through this daily publication, we can be inspired to reach our highest levels, take the reigns of our lives and reach for our dreams, no matter what we face in life!  It is my desire that for all of you – men and women – who read this Daily Paper that you will walk away with nuggets of truth and burning possibilities for your life and your journey.

Start May 2014, The BusyGal Daily Buzz, is a collection of news articles found around the globe on various subjects that are intellectually stimulating, appealing, provocative, and entertaining.  Feel free to share and spread the love with your friends, co-workers, etc…

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You are Not a Tree!

 

Words to live by!you are not a tree