While it is admirable to make a thousand dollars per month, it can be just as beneficial to save a thousand dollars.Have you ever really thought about how much you could save if you took a real look at your current bills?
About a year ago, I figured I was spending as little as possible, but I wasn’t budgeting my income or expenses at the time. Starting in January, I decided to set a monstrous goal for myself: paying off my house loan. This would require me to increase my income and spend very little on expenses. It was time for me to figure out if there was anywhere I could save.
The Phone Bill
As I was setting up my January budget, I realized that my phone bill was $85 a month. Suddenly (since I actually had a goal to pay off that massive debt), this bill seemed a
Continue reading How to Save Thousands of Dollars
Do you have a budget for yourself to follow each month? If not, do you know how much you spend on food, car insurance, your home insurance, your phone, cable, or gasoline? My guess is that most of us could not quote the exact expense of each of these categories every month. You might write this off and just say, “Well nobody does!” This is simply not true, and by ignoring your re-occurring expenses you may be ignoring potential savings for this month, and for the entire year.
First, Make Your Budget
In order to get an accurate assessment of what your expenses are each month, you first need to take a guess at it – meaning, start a budget and write it down on paper. Throughout the month, you will basically find out how wrong you are, which is absolutely fine. Making mistakes is the best way to learn!
Continue reading Make a Grand This Month with Your Savings
Sometimes making a grand per month is not just about the extra cash in your pocket but the generous benefits that you receive.
Yes, it would be nice to make an extra grand per month in cash, but sometimes it is worthwhile to make less at a part-time job that also pays you generous benefits such as health care and a 401k.
If you do not currently have health insurance and you get a part-time job that pays your health insurance, how much is that perk saving you? Of course, you are saving the cost of the premium that the company pays for you as well as the entire expense you would have had to pay without insurance that your insurance now covers.
For instance, once a week, my son gets physical therapy. This therapy costs $141 a session, which we could not afford to pay if we
Continue reading Consider Employment Benefits Before Taking a Part-Time Job
We have been looking at various ways to make extra money, some of which could develop into full-time businesses such as cutting grass or cleaning houses. Both of these services could lead to enough business such that you would have to hire employees. You are also working at various locations and on the property of many clients. One way to protect yourself and your personal assets is to form a limited liability corporation, but the other is to make sure that you have the proper insurance coverage.
Being a business owner is a huge responsibility. There are a lot of obligations that you must take care of when owning a business. One of these is making sure you obtain and maintain proper insurance coverage. There are many types of business insurance. This variety helps businesses get just the right coverage they need without being overinsured or underinsured. Two types of
Continue reading Does Your Side Business Need Insurance?
The following post is from Melissa who blogs at Mom’s Plans who made the transition to working at home so she writes from experience.
Perhaps you picked up a side gig to pay down debt or to increase your savings. Maybe you did it because your day job is not as fulfilling as you would like or does not utilize your talents. Whatever the reason, people often start side gigs because they get to do something they love AND get paid for it. I was ecstatic when I began writing for pay, and even more so when my writing business grew. If you have a profitable side gig that you enjoy and are good at, you may find your little side business growing into a larger endeavor than you planned. The next natural step is to wonder if the time is right to quit your full-time job to pursue
Continue reading Turning Your Side Income into Your Main Income