SPH MONEY MOMENT: If it is taking time it is taking money. And many things you are spending time on…could be making money. A very successful single mom once told me, “You need three sources of income AT ALL times.” I’m yet to get there, but I’m getting started! Here’s some tips we gathered: 1) Start a micro-business. Ok, so what are you doing already? Do your friends have your proofreading papers, or helping them with presentations? That’s a money-maker. Consider small time consulting on what you are good at. Preferably something that you can quickly churn out. Make candles? Well daggone it, sell them. Boutique-size anything is always in demand. And so are those car notes and daycare costs. Let’s get it. 2) Discover what’s killing you. Let’s say I *ahem* hypothetically, like wine a lot…hypothetically of course. Well, do I know how much I am really spending? And little things like that tend to add up on us. Try Mint for a week or two and put in all your expenses, you may be able to cut some corners and stack a little more money. Not that you should have to give up every little pleasure. 3) Network. Network. Network. It’s easy to get trapped in our own worlds with so much pressure, but you have to get out there. You may just meet someone who can help you discover a new job opportunity or a good source of investment (financial advisors aren’t just for the rich, get a free consult). 4) Don’t get used to being broke. Can I get a PREACH on this one? This goes to mind set. Prepare yourself for the good thing that is to come. If you speak poverty you’ll be in poverty. If you are in poverty…we are on our way OUT. It’s temporary. Start speaking wealth. 5) STOP being loyal. It doesn’t matter how much you love your boss or your company. Don’t be scared to ask for your worth, look for other opportunities and MOVE once you get the increase that you need. Keep your resume updated, and do not ever, ever, think that because you are loyal to a company they will be loyal to you. Always put your family first and their needs. Believe me, they wouldn’t hesitate to give you a pink slip if they had to. It’s business. 6) STOP being loyal. Once again. You may need to relocate, you may need to transfer. If you make a significantly larger amount of money elsewhere you can save, and come back to wherever home is. Right now, it is grind time, and the economy is stabilizing, but it’s not back. You have to be more flexible and nimble than ever. Whaddya think?
Posted on: Wed, 10 Jul 2013 18:34:09 +0000
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