OK, so you are not going to change your life in a week, but you can get headed in the right direction! Can you really change your life with no money? The answer is YES and NO. You CAN change your life with just a little effort.
If you are at home during the day with kids or without, by choice or by force, utilize your free time! If you are at home watching a movie, why not do some paid clicking on your laptop? How about a survey while you are cooking dinner or looking after the children? Maybe starting a free blog here on blogger or write articles. Watch your neighbor's child. There are so many sites on how to make money online and offline that I am not going to put one on here, however I do keep a list of all of my sources, and would be happy to share my list with anyone interested (just send a request and an email address. Choose your own path. Aim for $10 a day of just "extra money". Every day, this is about $300 per month. It is certainly not going to pay your bills, but it is not intended to. This is LIFE money. This is to give you a better life. This $300 per month can pay off your car sooner, your credit cards, student loans, whatever is there. This is a great step to a better lifestyle.
If you have no debt, congrats! I highly recommend you check out the peer lending sites. I use Lending Club for any money that I am saving for 3-5 years. I constantly reinvest into new loans, and keep track of what I am yielding a month. I do this along with paying off debt, as I like to have the money there for an emergency. The advantage to lending club, is if you get into a tight position, you can sell your loans on a trading platform. In the meantime, the yield is excellent! Check it out! This is my FUTURE money. This is put aside for once I get our family's bills under control. This is to use to further our ability to save money on bills that NEVER get paid off (utilities, food, clothes, taxes, etc.).
Right now, this is also serving as my "business account". It will fund my side business, which I do not want to put any effort or money into until we cut down our other debt.
The "$10 a day strategy" has had a significant impact on our lives. It has allowed us to save some money along with making me feel productive and it is wonderful to not only contribute to the household by cooking and taking care of the kids, but financially also.
Then there is the "minimum wage dilemma" many parents face. I will tell you, I have a family member that has 1 child, and she ONLY works for medical insurance, daycare, and taxes. Her husband has insurance, but hers is $60 cheaper for the family. So essentially, she makes $60 per month working. This strategy may work for you to supplement your income enough to stay home with your children.
Your initial goal? $10 a day. If you make more, pat yourself on the back. This small amount can give you a SOLID future. It is all about multiplying this savings and saving what you multiply it into.
Showing posts with label need money. Show all posts
Showing posts with label need money. Show all posts
Saturday, July 16, 2011
Monday, July 4, 2011
Dealing with being unemployed
I was reading an article on Yahoo, asking people to tell their stories about unemployment, and lo and behold, there were 2600 responses from people with their stories. This is why I have decided to change gears a bit and do a week about surviving on unemployment, or even worse, nothing.
First, let me say, I sympathize with anyone who has gone through the same thing we have. Bring up 4 children on 1 salary isn't easy, let alone if you were living on one to begin with. Our family scrapes by on our income. Over the past year, our situation has dramatically improved. Before I spend a week on this subject, I want to give you, the reader, a few tips. These are not only good for the unemployed, but for anyone trying to better their financial situation.
1. Immediately cut down as low as you possibly can. This may or may not mean cutting luxuries, but it does mean cut anything that you have been putting off. For example, we paid for 9 months for a house phone, and never even used it! We just didn't "have time" to cancel it. At least that is what we told ourselves. But not holding off on it and cancelling it immediately would have saved us $270 that we wasted because we didn't.
2. Going back to school and finishing your degree, getting a different degree, etc. may not be a great option for several reasons. A long term program may risk losing your unemployment. Also, many college graduates are finding themselves strapped with student loans AND still having a hard time finding a job. Child care is expensive, and the stress from being unemployed and needing money may keep you from obtaining your goals.
3. Learn a trade, a skill, or take a class. Some skills can be turned into money making opportunities. Still others will save you money. Use what you have. Have a lawn mower? Put it to use. Have a talent with the piano? Teach lessons. Sewing machine, sew! This could help you make a bit of extra money to get you through.
4. Put the kids to work! I have an 11 year old who will do just about anything to get some extra money! Have them take surveys, click ads, or write articles (just make sure they are only doing the clicking. Being the honest person you are, it should be easy to sit one of your children down with a laptop on the kitchen table. Teach them to click the ads and check them out while you are cooking, folding laundry, etc. Give them a "cut" when you get paid, and have them put it towards, for example, that new pair of shoes they wanted. If you have older kids, help them start their own business mowing lawns, babysitting, petsitting, etc. It won't help you directly, but it could lighten the expense load when that kid can pay their own way when they want to go out with friends or that expensive new shirt. I put together a few money making websites that I use HERE. Some sites are better than others, but then again, I like to balance my day with things that actually require thought and attention and things that don't (things my kids can help with or that allow me to do two things at a time!)
5. Get back to basics. Work backwards. Do whatever you have to do (legally of course!) to help you get back on your feet! Rent an apartment and be content until you are able to pay cash for a condo, and work your way up. I know this sounds difficult if not impossible, but following these tips, and having a dedicated place to put this money will help you. Maybe start with a inexpensive lot and put a small trailer or even an RV on it until you can afford to build your own home.
6. Get creative! This is the single most important thing! When you have no money and few job prospects, the easiest thing to do is to save money. Once you count sales taxes and income taxes, for every dollar you save, it could actually save a lot more. Do your own math, and find out what that dollar burger really costs you once you pay Uncle Sam.
First, let me say, I sympathize with anyone who has gone through the same thing we have. Bring up 4 children on 1 salary isn't easy, let alone if you were living on one to begin with. Our family scrapes by on our income. Over the past year, our situation has dramatically improved. Before I spend a week on this subject, I want to give you, the reader, a few tips. These are not only good for the unemployed, but for anyone trying to better their financial situation.
1. Immediately cut down as low as you possibly can. This may or may not mean cutting luxuries, but it does mean cut anything that you have been putting off. For example, we paid for 9 months for a house phone, and never even used it! We just didn't "have time" to cancel it. At least that is what we told ourselves. But not holding off on it and cancelling it immediately would have saved us $270 that we wasted because we didn't.
2. Going back to school and finishing your degree, getting a different degree, etc. may not be a great option for several reasons. A long term program may risk losing your unemployment. Also, many college graduates are finding themselves strapped with student loans AND still having a hard time finding a job. Child care is expensive, and the stress from being unemployed and needing money may keep you from obtaining your goals.
3. Learn a trade, a skill, or take a class. Some skills can be turned into money making opportunities. Still others will save you money. Use what you have. Have a lawn mower? Put it to use. Have a talent with the piano? Teach lessons. Sewing machine, sew! This could help you make a bit of extra money to get you through.
4. Put the kids to work! I have an 11 year old who will do just about anything to get some extra money! Have them take surveys, click ads, or write articles (just make sure they are only doing the clicking. Being the honest person you are, it should be easy to sit one of your children down with a laptop on the kitchen table. Teach them to click the ads and check them out while you are cooking, folding laundry, etc. Give them a "cut" when you get paid, and have them put it towards, for example, that new pair of shoes they wanted. If you have older kids, help them start their own business mowing lawns, babysitting, petsitting, etc. It won't help you directly, but it could lighten the expense load when that kid can pay their own way when they want to go out with friends or that expensive new shirt. I put together a few money making websites that I use HERE. Some sites are better than others, but then again, I like to balance my day with things that actually require thought and attention and things that don't (things my kids can help with or that allow me to do two things at a time!)
5. Get back to basics. Work backwards. Do whatever you have to do (legally of course!) to help you get back on your feet! Rent an apartment and be content until you are able to pay cash for a condo, and work your way up. I know this sounds difficult if not impossible, but following these tips, and having a dedicated place to put this money will help you. Maybe start with a inexpensive lot and put a small trailer or even an RV on it until you can afford to build your own home.
6. Get creative! This is the single most important thing! When you have no money and few job prospects, the easiest thing to do is to save money. Once you count sales taxes and income taxes, for every dollar you save, it could actually save a lot more. Do your own math, and find out what that dollar burger really costs you once you pay Uncle Sam.
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