10 Ideas for Boosting Your Income

There are plenty of opportunities to boost your income if you’re willing to hustle. A few hours each week can add significantly to your discretionary income. You’ll find a few ideas listed below, but come up with a list of your own ideas. With enough creativity, you might discover an untapped source of secondary income.

Boost your income starting tomorrow:

  1. Be a part-time personal assistant. You can make phone calls, run errands, mow the grass, have the car washed, or pick up the kids. Think of all the things you wish you had help with. You can provide that to someone else. While there aren’t too many people that can use an assistant full-time, there are many people that could use and hour or two of help.

  2. Rent your car. How much time do you actually spend driving it? The rest of the time it’s just sitting in the driveway dripping oil and serving as a target for birds. There are apps that will allow you to list and rent your car. Parkingspotter and Relayrides are two examples.

  3. Knock on doors. A variety of organizations are looking for people to canvas neighborhoods and solicit donations or spread information. You can brush up on your social skills, too.

  4. Bartender. With the right position, you can make a lot of money quickly. Take a class and learn how to mix your favorite drinks.

  5. Clean houses. Some people actually like to clean. If you’re one of them, you’re in luck! Some people are too busy to clean and have the financial resources to pay someone else to do it. All you have to do is find each other. A few basic cleaning supplies are enough to get started.
  6. Housesit. If you spend your evenings in front of the TV or playing on your computer anyway, do it at someone else’s house and get paid for it. There’s not much to do besides getting the mail.

  7. Teach. Do you know yoga, algebra, or how to play the violin? Share your knowledge for a price. Use online classifieds or hand out a few fliers. Just a couple of students can provide a nice boost to your income.

  8. Get a roommate. Split the rent and utilities. That can easily be upwards of $1,000 per month. All you have to do is give up some privacy and half the refrigerator. Be sure to take a shower before the hot water is gone.

  9. Pet-sitter or dog walker. Pet sitters make around $25 per day. If you’re lucky enough to get a good dog, it’s an easy job. Dog walkers earn around $15 per 30-minute walk. A few clients can add to your income nicely. Look at rover.com.

  10. Buy and sell things on Craigslist. People have traded their way from a used cell phone to a Porsche without spending a dime. Look for things selling at a low price. Purchase it and resell at a higher, more reasonable price.
  • There are always good deals to be found. You must be knowledgeable of the item, however. Do you know the typical price for a 1988 USA Peavey Predator guitar? Know the market value of what you’re buying and look for someone willing to do something silly.

A little extra income never hurt anyone. Think of other ways to boost your income. If you’re willing to work, you can create a second income that makes a big difference in your life. Find something that interests you and you’ll enjoy yourself more. Many of these tips can be put into action immediately.

Entrepreneurial Success: Top 5 Secrets for Building an Empire

Entrepreneurship is the way of the future! It may be the answer to the personal success that you’ve been looking for all along. Becoming an entrepreneur is the most effective path to building an empire. And building an empire is a surefire way to achieve your dreams.

If that’s what you want, you have to start somewhere. Becoming an entrepreneur requires a lot of effort on your part. But you’ll be beyond happy when you’re at the end of the road.

If you have limited entrepreneurial know-how, use this checklist to get on the correct path:

  1. Buy into a business idea. Commit wholeheartedly, and for the long haul. This doesn’t necessarily mean putting down financial capital. Make an emotional and educated investment into whatever the business concept may be.

    • Researching your business idea is crucial to success. Is anybody else doing it? What’s the usual market response to similar ideas?

  2. Identify a target audience. Who wants your product or service? Naturally, you’ll need to be able to identify them. It’s safe to say that a business without a target audience may not do very well!

    • When you determine your target audience upfront, you can focus on building a marketing plan.

  3. Find ways to start small. It’s exciting to have big ideas for your business. But it’s also wise to start small. Start researching and designing launch plans, financing, and other key elements to get it going, with plans for expanding as profits allow.

    • Some of today’s biggest businesses started as tiny “hole-in-the-wall” operations. For example, Steve Jobs built computers in his garage. This may be the approach for you since it’s your first entrepreneurship.

    • Your bank might be offering you impressive financing. But do you really need all that startup capital? Keep your head on and only take what you really need. The less debt you have at the onset, the easier it is to see profits.

  4. Think evolution. The businesses with the greatest success are the ones that constantly reinvent themselves. You’ll need to have that eye of longevity in order to build a good business model.

    • Your business idea might be for bottled water today. But who says it can’t evolve to other bottled beverages tomorrow? This is the kind of thought to put into your startup business.

  5. Get involved in the process. Getting involved in the process can mean a lot of things, depending on the type of entrepreneurship.

    • Understand the numbers. The dollars and cents are the main determining factors in how well the business is doing.
    • Stay on top of every aspect of the startup project. It’s great to have experts on board, but it’s an even better idea to know what they’re doing!

At this point, you’re probably already starting to feel excited! Getting your business idea off the ground is a challenging, but rewarding, experience. Once you stick to this general planning sequence, you’ll likely pull it off successfully.

Nobody dreams bigger dreams for you than you do! Live those dreams out and create the empire you always wanted. It’s yours for the taking.

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.