Extra cash in your pocket each month could have a big impact on your personal finances. If you can make a second income, then its more likely that you will reach your financial goals a bit faster. Extra funds can be used to pay off a credit card debt, boost an emergency fund or increase good ol’ savings. But whatever it is, a second income can help in one way or the other. It’s not necessarily difficult to make a second income, but you must have the right mindset and the motivation to keep pushing.
This father wanted to make a second income so that he could spend some time at home with his family. It’s difficult when you have a growing family and you have to struggle with missing your children grow so that you can provide for them. Vincent was able to find a part-time job on FlexJobs with a media management company.
Out with the old and in with a new vision. Dave and Betsy Muehl turned an old 1920s barn into a quaint marriage/ wedding venue. Inspired by a view of the surrounding landscape, the Muehl family turned a barn that had a date with a bulldozer into the perfect wedding location. During the week David is a full-time farmer who runs a custom hay business.
I’ve always heard that if you’re fully employed, you should test the waters before your impending jump into entrepreneurship. I’m a creative spirit and my dream job is in the crafty and artsy world. In fact, it has always been this way. I’m not ready to quit my job, but there are some excellent options to get a side hustle going. See how you can start your creative business and assess your market.
D is for debt. Debt is marketed as the surefire way to get everything that you want now. It’s disguised with low interest rates, cash back and no payment until whenever. But when the dust settles, you’re left with cold, hard, debt. You have a choice. You can either keep your debt and pay it off as you earn or get aggressive and make a second income to get rid of it.
Passive income is a buzz phrase that has various connotations. It’s catchy and it sounds really, REALLY good. Making money while you sleep, setting it and forget it and earning money while you wait are some of the more popular slogans that go along with passive income. In this Good Financial Cents post, you’ll see 23 passive income ideas that you can start today.
Be prepared. These are words that ring loud and clear when the hurricane season is in full swing. Preparing for a natural disaster makes sense. Have you ever thought about preparing for a financial disaster? What provisions do you have in place for a difficult financial event such as unemployment or an economic recession? If you can make a second income, you can boost an emergency fund and/ or pay off your debt.
It can be difficult to make a second income especially if it takes you away from your family. That’s why non-traditional ways to earn extra money are becoming more popular. This list of 68 ways to boost your income includes selling online, renting out spaces in your home, cutting back on your bills and taking on weird but effective jobs. It also proves that you can make money by saving money.
You need extra cash. Period. You have lots of financial commitments and it’s difficult to make ends meet. Or, you have a few goals that require an additional side hustle so that you can reach them. Whatever your motivations are, a flexible side gig is the ultimate way to make a second income. These side jobs are extremely easy to start and require little or no up front investment.
I know what it’s like to be stressed out about money. In a previous full-time job, I struggled to make ends meet on a fixed salary and with a company that did not believe in raises. You can make a side income by investing yourself in a part-time job. Let me warn you now – it is not easy. But the trade off is that you have the ability to change your life and get the life that you want and deserve.
Quantifying your potential gains from passive income can be the motivation that you need to make a second income. Do you want to travel, pay off your mortgage or save for your children’s education? Then I think that you need all of the help that you can get. Rental properties, dividend stocks and building a business that you can outsource are three suggestions that you use to make passive income.
It costs nothing to take control of your life so that you can get what you want and deserve. The steps that you take to make a second income have the potential to take you to your destination. What’s stopping you?
New to investing? We’ve created a powerful list of the best investment books for beginners. Read our reviews and choose the book that can boost your earnings.