Make Money

Fun Ways to Make More Money

Fun Ways to Make More Money

By in Guest Post, Make Money, Tips | 3 comments

8 Fun Ways to Make More Money and Enjoy It, Too! By contributing columnist,  Alexandra Deluise Making more money doesn’t need to be a drag. While typically people imagine “make more money” being another way of saying “get a second job, work 80 hours a week, and forget about having any fun,” that isn’t the best way to earn a little extra. As the saying goes, do something you enjoy and you’ll never work a day in your life. While there are many, many ways to make more money quickly (I can think 26 ways right now!), I’m a big fan of making money off of my talents. Since I know what I’m good at and what I enjoy, it only makes sense that I try to market these talents to people who need them! Here are 8 fun ways to make more money. 1. Be a Party Planner A friend of mine just threw her son the most creative first birthday party I have ever seen. Every detail was meticulously thought out, and her DIY projects put Pinterest to shame. If you are creative, organized and have an eye for detail, consider planning other people’s parties for them! One of the best parts about being a paid party planner is that you don’t need to worry about the expense, the guests, or the cleanup (unless that’s part of your paycheck). Planning parties for other people means you get to ignore the difficult or expensive parts of throwing a party, but can enjoy going all out on decorations, securing the best food and desserts, and organizing the games or activities. 2. Bonus: Make the Cake, Too! You will have to check with your state to be sure that you can legally sell baked goods out of your home. If your state allows it, and you have a taste for culinary creativity, baking cakes for themed parties can be serious fun, and is an excellent addition to your party planning business. My husband has been asked to make cakes in all shapes and styles, including a gigantic Xbox 360 cake for his best friend’s groom cake. These cakes are fun to make, but are also very time intensive, so be...

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Is Holding a Garage Sale Worth it?

Is Holding a Garage Sale Worth it?

By in Make Money, Mind and Money | 27 comments

After $448 I ask, “Is Holding a Garage Sale Worth it?” Jr. Carina and I have made about $448.00 for our most recent garage sale. Is the cash worth the time and effort? Our previous garage sale was in 2003, when we moved from Ohio to Pennsylvania. At that time I swore I would never hold another yard sale.  Then, we were moving out west to California. So, seven and a half years later, I gave in. Find out the final answer to the question, “Is holding a garage sale worth it?” As we embarked on our second garage sale, I thought I was bordering on insane when I considered whether holding a garage sale is worth it or not. This personal story digs into both the financial and personal tally of whether to hold a garage sale. Is Holding a Garage Sale Financially Worth it? Two days sorting through our junk valuable goods. Three days organizing, merchandising. One day selling. Total time spent 50 hours. Revenue = $448 Hourly pay – $8.96 per hour So here’s the hourly rate for this garage sale, $8.96 per hour. It’s more money than I make cleaning and cooking for the family. It’s less per hour than working at Wendy’s. It’s significantly less than my hourly compensation as a freelance writer. According to my calculations, holding a garage sale isn’t much of a financial gain. Alternatively, I could write and earn significantly more than I made spending time organizing the garage sale.  If you want to make money sitting on your duff surfing the net, here’s a fun alternative: Swagbucks rewards you for surfing the net and taking surveys, watching videos and even playing games. (There’s even a $5.00 sign up now). Why not sign up, while you’re figuring out whether to hold a garage sale or not. Are There Other Benefits to Holding a Garage Sale? Holding a garage sale is not fun for me. I understand some people may enjoy the whole process. My neighbor used to hold a garage sale monthly to recycle his stuff. Others use garage sales as an ongoing money making side hustle. The only parts of the garage sale process I liked were; decluttering and spending time with my daughter. In general,...

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Prosper Review – Where to Get a High Return On My Cash?

Prosper Review – Where to Get a High Return On My Cash?

By in Advanced Investing, Debt, Investing, Make Money | 34 comments

Prosper Loan Investment Returns-Where to Get a High Return on My Cash? Since October 2011, I’ve invested in Prosper Loans. This is the fourth update of my experience investing in Prosper loans. In October, 2011, I decided to take a small percent of my investment money and lend it to Prosper borrowers through the Prosper Marketplace. Prosper borrowers must meet minimum credit score ratings and go through a vetting process. These borrowers typically want to borrow money for short term needs such as debt consolidation, homeowner remodel, or business expansion. The borrowers are graded according to credit worthiness from AA to HR. Typically, the lenders return varies based upon the percent of loans in their portfolio from each specific credit grade. For example, if you had a portfolio of all E rated loans, then you could expect a return of 12.51%. Whereas, if you were a more conservative lender and only lent to the AA borrowers, you average would be approximately 5.21%.  As you would assume when considering ‘Where to get a high return on my cash‘, the lower quality lenders; C, D, and E have higher returns because they are riskier borrowers with a greater chance of default. That said, lending to others through Prosper is increasing my income as I serve as a banker to those who need money to build their businesses, pay off debt, or for other short to medium term uses. Caveat; this type of investment has a greater risk and may be considered a speculative investment. Investors! Earn great returns with Prosper.com peer-to-peer lending Why I Invest in Prosper Loans I believe in the concept of peer-to-peer lending directly to borrowers in need. I diversify my investments across many loans, in order to reduce the risk. And, I want to get a high return on my cash! At present I have 1,108 notes and of those notes, 35 are past due. That’s about 3% of the total. Fortunately, when Prosper approximates the return, they take into account the default rate.   By diversifying across many loans, if a borrower defaults on her loan, it’s only a small loss to me. As in any riskier investing endeavor, with higher rewards, the lender also expects more losses....

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Robert Reich Bashes the ‘New Sharing Economy’

Robert Reich Bashes the ‘New Sharing Economy’

By in Economics, Make Money, Personal Finance | 2 comments

What is the New Sharing Economy-And Why Should You Care? After reading Robert Reich’s article in the San Francisco Chronicle, “In New Economy, Workers Get Stuck with the Scraps” I felt compelled to dig deeper into “the new sharing economy”.  After a quick google search, I found out that the “new economy” means a lot of different things. In fact, there isn’t just one definition of the new economy, but multiple ideas of what this concept means. The Nation.com describes the new economy in Gail Aperovitz’s “The New-Economy Movement” on June 13, 2011 as;  “the movement seeks an economy that is increasingly green and socially responsible, and one that is based on rethinking the nature of ownership and the growth paradigm that guides conventional policies.”   On the other hand, the Businessdictionary.com explains our new economy as; “The idea that notable advances in information technology in the 1990’s and beyond, and specifically the rise of the internet as a business medium, had changed fundamental economic rules. In the new economy, it was thought that former business valuation techniques were invalidated by the resulting fast changing business environment.”   Investinganswers.com succinctly weighs in;  “The new economy refers to the convergence of manufacturing, services and technologies to produce high value-added, technology-enabled, and adaptable industries.” And if those definitions weren’t enough, Reich explains the new sharing economy in a different way. Reich hones in and considers the ‘new economy’ a version of the ‘share’ economy. Specifically he digs into the problems with the new upstarts such as Uber, Instacart, Airbnb, TaskRabbit, UpCounsel, HealthTap, and Mechanical Turks. This component of the new economy consists of the solo-preneurs who use their own resources to deliver services and products, without the security and umbrella of the corporate structure.      Who are Some of the Players in the New Sharing Economy? Uber-Individuals use their own car’s, as a taxi service. Instacart-This start up promises grocery delivery service, in an hour. Airbnb-Going on vacation? You can stay in someone’s apartment or home, or you can rent out a room or apartment in your own home. TaskRabbit-Website where users can outsource their errands to ‘fully vetted’ individuals, in their neighborhood. UpCounsel-Online match making between clients and lawyers....

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What Factors Impact Whether I’ll Retire Comfortably?

What Factors Impact Whether I’ll Retire Comfortably?

By in Investing, Make Money, Mind and Money, Money Management, Mutual Funds, Reader Question, Retirement, Saving | 5 comments

How to Retire Comfortably FF at Feeling Financial asks: What factors play the biggest role in whether or not I’ll retire comfortably? Is it the funds I pick, how much I save, or how often I rebalance?   Recently, when talking about budgeting with my Mom, she mentioned that she and my Dad never budgeted. That really surprised me. They were and still are very financially savvy. My dad came from an impoverished background and my mom’s upbringing was modest. My dad started working at age 10 to help out the family, managed to get out of high school in 3 years and college in 3 as well. Since their financially modest beginnings, they’ve done quite well. They are my financial role models. So how were my parents able to retire comfortably and end up financially secure without a budget? For as long as I can remember, they balanced economy and spending. For example, next to the phone there were cut up sheets of paper for messages. Nothing was wasted; we darned our socks (Who does that anymore?), no food was wasted (‘Leftovers’ meals were on the menu at least once or twice a week), when we ate out, it was usually at a modest restaurant. We typically shopped at the outlet mall or bought clothes on sale. As a child, my (unlucky) younger sister wore my old clothes. They never kept a budget because, they prioritized saving, and investing. They saved, before they spent. Click this button to learn how to retire comfortably with investing. Mom and dad retired wealthier than they could have imagined. Their habits inspired my interest in investing. Learn from their financial success as well as my education and experience about how to make wise money choices today in order to retire comfortably tomorrow. How to Retire Comfortably (or Wealthy) – Without Great Sacrifice Start Early-Saving and Investing One of my MBA professors, Patrick Cusatis said anyone can be wealthy if they just have enough time. Check out this compounding example to see what he meant.   Start with $100. Invest the $100 in a diversified stock mutual fund. Reinvest all the dividends and capital gains. Assume that the $100 earns 9 percent returns, consistent...

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Money Help From Ramit Sethi; How to Get a Raise

Money Help From Ramit Sethi; How to Get a Raise

By in Make Money, Tips, Wealth | 15 comments

Money Tip-Simple Strategy to Get a Raise Although I met Sethi at a Financial Blogger’s Conference several years ago, read his book I Will Teach You to be Rich, and subscribed to his newsletter, I had some difficulty understanding his tremendous popularity. Yes, he’s smart, charismatic, and creative, but what was the allure? I opened a news blast, read the entire copy, clicked the link, and read that entire copy. Sethi offered a five minute life changing tip. The first email blast title: The haunting reasons we feel out of control I clicked through to : New Data, what you told me about control over your life Maybe he has something here. Are you curious? I certainly was. How Does Your Salary Match Up? His readers wrote back in droves about feeling lack of motivation and control in their lives. They had too much debt and not enough income. Some complained that their jobs were too inflexible and others shared that a $5,000 unexpected expense would put them over the edge. Their financial and job stress was palpable. The solution, according to Sethi was to find an extra $5,000 to improve your life. Although simplistic on the surface, for most readers, an extra $5,000 income per year could be lifestyle changing. Soon I’m launching Invest and Beat the Pros-Create and Manage a Successful Investment Portfolio. Sign up here to be notified + get a reduced price copy. (You’ll also get an investment tips cheat sheet bonus.) And here’s Ramit Sethi‘s starting point to find this extra cash. The solution to feelings of loss of control was elegant: He implored his readers to compare their current salaries to the averages of their colleagues in similar jobs and then report back. “Go to my 3 favorite salary sites — salary.com, glassdoor.com, and payscale.com — and look up the average salaries for your position and experience. Note that we’re using 3 different sites to diversify the data.” Ramit Sethi private list How to Get a Raise? The next recommendation: find out how your salary compares with others doing comparable work in your field. This knowledge alone tells you whether there is room for a raise. If the average annual salary for your job title and level of experience is...

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