freelancing http://www.wisebread.com/taxonomy/term/10859/all en-US 10 Work Perks You Can't Get as a Freelancer http://www.wisebread.com/10-work-perks-you-cant-get-as-a-freelancer <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/10-work-perks-you-cant-get-as-a-freelancer" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-511733684.jpg" alt="Woman learning work perks she can&#039;t get as a freelancer" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>In some industries, the number of gig economy workers is growing faster than the number of payroll employees. Working as a freelancer certainly does have its advantages, the biggest of which are flexibility, freedom, and the ability to experience variety in your work.</p> <p>But if you find yourself staring at the walls of your cubicle, daydreaming about escaping the 9-to-5 and finding freedom as a freelancer, don't overlook the perks you could be getting at your regular job, right now. It may not be so easy to leave these things behind.</p> <h2>1. Stable income</h2> <p>One of the biggest benefits of a regular 9-to-5 job is the steady paycheck. As a salaried employee, you can plan your budget based on a stable stream of income. As a freelancer, your income can vary significantly from one month to the next. A few slow weeks can throw your finances into disarray, so you'll need to shift your entire budgeting strategy to make sure this doesn't happen. (See also: <a href="http://www.wisebread.com/the-smart-way-to-budget-on-a-freelance-income?ref=seealso" target="_blank">The Smart Way to Budget on a Freelance Income</a>)</p> <h2>2. 401(k) match</h2> <p>Many traditional employers offer matching contributions to 401(k) plans. In other words, when you make a contribution to your retirement fund out of each paycheck, your employer will also contribute something. This is free money, and can total thousands of dollars each year. In the gig economy, you won't get this kind of assistance building your retirement fund. You'll need to make efforts to save for retirement all on your own, such as with an IRA or solo 401(k). (See also: <a href="http://www.wisebread.com/a-simple-guide-to-retirement-plans-for-the-self-employed?ref=seealso" target="_blank">A Simple Guide to Retirement Plans for the Self-Employed</a>)</p> <h2>3. Retirement counseling</h2> <p>Employers frequently offer training or educational programs to help workers plan their retirement investment strategy. Often, they'll even provide free access to financial planners to answer questions. Freelancers are on their own to figure out the road to retirement, and consulting with financial pros will have to come out of your own pocket.</p> <h2>4. Health Savings Account</h2> <p>A valuable benefit that many people miss out on is participating in a health savings account. Every paycheck, you can contribute pretax dollars to be used for health-related expenses. Some health savings accounts allow the funds to be placed in investments where the money can grow until it is needed. As a freelancer, you may be able to set up your own health savings account, but you will need to do a lot more research than someone who simply signs up for an established program through their 9-to-5. (See also: <a href="http://www.wisebread.com/how-an-hsa-saves-you-money?ref=seealso" target="_blank">How an HSA Saves You Money</a>)</p> <h2>5. Paid vacation and holidays</h2> <p>Paid time off is an undisputed benefit of a regular 9-to-5. As a freelancer, you don't earn a paycheck while on vacation or holiday. If you want time off, you take time off from earning any income, too. This can certainly put a damper on enjoying your down time.</p> <h2>6. Making connections</h2> <p>As a 9-to-5 employee, you'll have opportunity to build relationships with the coworkers and senior-level staff you see every day. These connections can give you a special level of access to approach and meet other influential people in your company. Plus, it never hurts to have a few people to chat with as you pass the day. Freelancers can still find plenty of opportunity to network, but they'll need to go out of their way to make it happen. It won't be as simple as showing up to work.</p> <h2>7. Tech support and replacement</h2> <p>I have thousands of dollars worth of computer equipment sitting on my desk. It gets supported, maintained, and upgraded by my employer. As a freelancer, you are on your own to buy and support your technology needs. Do you need a special monitor? You'll need to shell out for one. Is your computer too old to do the job? The replacement comes out of your pocket. If something breaks? The repairman will be billing you directly.</p> <h2>8. Training, certification, and professional development</h2> <p>Companies often invest in their employees by providing training or certification programs to help them be better workers. Staying up-to-date on skills, technology, and industry trends is incredibly useful to the employees as well, and makes them more valuable in the marketplace. Freelancers will need to find, purchase, and commit to their own training. It can be very easy to rest on your laurels and let your skills become outdated, especially with no boss insisting you keep learning.</p> <h2>9. Awards and recognition opportunities</h2> <p>It looks great on a resume to list awards and other work honors that you have received. Many employers have some form of &quot;employee of the month&quot; or similar recognition. You may not be able to stock your resume with such accolades if you go out on your own. At the very least, you'll have to seek out and apply for awards, where you'll likely be up against a much larger pool of talent.</p> <h2>10. Employee discount programs</h2> <p>Another perk that businesses offer their employees is discounts on products and services. These can range from cellphone plans, to personal computer purchases, to fitness club memberships &mdash; even discounts on concert and amusement park tickets. As a freelancer, you'll miss out on these discounts.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/dr-penny-pincher">Dr Penny Pincher</a> of <a href="http://www.wisebread.com/10-work-perks-you-cant-get-as-a-freelancer">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-1"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-questions-you-should-always-ask-in-an-exit-interview">8 Questions You Should Always Ask in an Exit Interview</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-a-side-hustle-can-advance-your-career">8 Ways a Side Hustle Can Advance Your Career</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-great-retail-jobs-for-working-parents">5 Great Retail Jobs for Working Parents</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/they-offered-you-a-promotion-and-no-pay-raise-now-what">They Offered You a Promotion and No Pay Raise. Now What?</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-get-work-experience-without-having-a-job">How to Get Work Experience Without Having a Job</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career and Income 9-to-5 benefits employment freelancing gig economy pros and cons self employment side jobs work perks Mon, 08 May 2017 08:30:07 +0000 Dr Penny Pincher 1940327 at http://www.wisebread.com 8 Ways Freelancers Can Make Sure They Get Paid on Time http://www.wisebread.com/8-ways-freelancers-can-make-sure-they-get-paid-on-time <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-ways-freelancers-can-make-sure-they-get-paid-on-time" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-485337116.jpg" alt="Freelancer making sure she gets paid" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>After 10 years working for various digital marketing agencies, I jumped ship and went freelance in 2005. Though making the switch was stressful, I've never looked back. Freelancing has given me control over my schedule, put an end to my mind-numbing commute, and allowed me to work from anywhere. (See also: <a href="http://www.wisebread.com/7-things-i-learned-about-money-after-i-went-freelance?ref=seealso" target="_blank">7 Things I Learned About Money After I Went Freelance</a>)</p> <p>Of course, all that freedom assumes one big thing &mdash; that I'm getting paid on time. If late payments are derailing your freelance dreams, listen up. Here are eight ways to make sure you always get paid on time:</p> <h2>1. Track everything</h2> <p>Getting paid on time starts with you. That's why organization is one of the <a href="http://www.wisebread.com/8-life-skills-every-freelancer-needs" target="_blank">life skills every freelancer needs</a>. Keep meticulous records of all work completed and the payment status of every invoice. I rely on a basic Excel spreadsheet that's organized with the following headers: <em>Client Name</em>, <em>Project Description</em>, <em>Hours/Rate</em>, <em>Amount Invoiced</em>, <em>Date Invoiced</em>, <em>Date Payment Received</em>, and <em>Notes</em> (for tracking important communication with clients and the dates any payment reminders were sent).</p> <h2>2. Invoice immediately</h2> <p>To get paid promptly, you have to invoice promptly. Waiting weeks or months to invoice exposes you to client-side staff turnover, shrinking budgets, and sometimes even insolvency. Strike while the iron is hot. Unless you've made other arrangements, send a detailed invoice within 48 hours of completion of the work.</p> <h2>3. Tighten up the terms</h2> <p>Avoid confusion about payment terms by making them a standard part of your invoice template. Some variation of &quot;Payment is required within 30 of receipt of invoice. A late fee of 5 percent will be assessed each month payment is past due&quot; will usually do the trick. Oh, and be sure to include your contact information on every invoice. You always want your phone number front and center in case a client has billing questions.</p> <h2>4. Pave the way for easy payment</h2> <p>Encourage quick payments by making things easy. Set up a PayPal account or work with other payment apps like <a href="https://www.google.com/wallet/" target="_blank">Google Wallet</a> or <a href="https://www.waveapps.com/payments/" target="_blank">Wave</a>, which allow clients to pay online with a credit card. Though there's a nominal fee to process payments, it's well worth the immediacy and convenience.</p> <h2>5. Be kind, remind</h2> <p>Though some freelancers send follow-up reminders for every invoice (whether payment is late or not), that seems a little heavy-handed to me. Focus on what's unpaid and keep the tone of your message friendly and positive. Remember, the goal is to facilitate payment, not ruin a relationship.</p> <h2>6. Levy a late fee</h2> <p>Applying a late fee to past due payments is sometimes a necessary motivator. To minimize ill will from valued clients, make sure your late fee structure is modest (say, 5 percent each month), consistent, and clearly stated in the payment terms on every invoice.</p> <h2>7. Polish your professional image</h2> <p>If late payment is an ongoing problem, maybe your business isn't being taken seriously enough. Upgrade your image and work on how you present your business in all communications &mdash; including invoices. Download a free invoice template, tailor it to fit your needs, and add your logo. Better yet, create, track, and manage invoicing with a service like <a href="https://www.freshbooks.com/" target="_blank">Freshbooks</a> or <a href="https://www.zoho.com/invoice/" target="_blank">Zoho</a>.</p> <h2>8. Set up a retainer</h2> <p>Retainer agreements are simple work contracts. They provide freelancers with a recurring and predictable source of income, while at the same time allowing clients to reserve your services for extended periods of time &mdash; usually in preparation for big projects. Though invoices are still required in most retainer arrangements, they don't drive the payment process. For repeat clients, suggest establishing a retainer and offer an incentive. I reduce my hourly rate by 10 percent for all work completed under a retainer agreement of three months or longer.</p> <p>In the freelance world, getting paid on time takes the same skill set that built your business in the first place: an obsessive attention to detail, a big dose of diplomacy, and a touch of ingenuity. Still need some motivation to speed up those slow-paying clients? Just remember how terrible your commute used to be. It works for me every time.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kentin-waits">Kentin Waits</a> of <a href="http://www.wisebread.com/8-ways-freelancers-can-make-sure-they-get-paid-on-time">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-big-business-accounting-tools-every-side-gig-needs">4 Big Business Accounting Tools Every Side Gig Needs</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/heres-how-your-taxes-will-change-after-you-start-a-small-business">Here&#039;s How Your Taxes Will Change After You Start a Small Business</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-common-myths-about-starting-a-small-business">8 Common Myths About Starting a Small Business</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-signs-its-time-to-close-your-business">5 Signs It&#039;s Time to Close Your Business</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/self-employed-heres-how-to-get-your-apartment-application-approved">Self-Employed? Here&#039;s How to Get Your Apartment Application Approved</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship clients freelancing getting paid independent contractors invoices organization self employment Thu, 04 May 2017 09:00:08 +0000 Kentin Waits 1938380 at http://www.wisebread.com 4 Big Business Accounting Tools Every Side Gig Needs http://www.wisebread.com/4-big-business-accounting-tools-every-side-gig-needs <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/4-big-business-accounting-tools-every-side-gig-needs" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-505095190.jpg" alt="every side business needs these accounting tools" title="" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>While side gigs are becoming an increasingly common way for Americans to bring in extra income, many people do not understand how that additional income can affect their taxes. If you're not prepared, freelancing or working on the side can lead to serious issues with the IRS, costing you thousands in penalties and fees.</p> <p>If you plan on taking business deductions for expenses, you'll need some tools to manage your reporting and minimize your tax headaches. Treat your side hustle like a small business. Below are four business tools you should use to keep your side gig from overwhelming your finances. (See also: <a href="http://www.wisebread.com/6-signs-its-time-to-make-your-side-gig-your-career?ref=seealso" target="_blank">6 Signs It's Time to Make Your Side Gig Your Career</a>)</p> <h2>1. Business bank account</h2> <p>If you have a side business, you should seriously consider opening a dedicated business bank account. It will make tracking your expenses and profits so much simpler, which makes tax time simpler as well.</p> <p>Keeping your business and personal finances separate is not just easier, it's also important. Should the IRS ever take a closer look, you want them to see a clear distinction between personal and business expenses, as well as all of the business income you've earned. Jumbling this together with your personal banking is a recipe for confusion and possible contention.</p> <p>Having a business bank account lends you more professional credibility, too. Asking a client to write a check to your business, for example, feels much more legitimate than having them make it out to your name.</p> <p>All of the business income you earn doesn't have to stay in your business bank account. You can pay yourself the appropriate amount after considering taxes and expenses. Simply transfer that money to your personal account, and leave the rest in your business account.</p> <h2>2. Business credit card</h2> <p>Similarly, it's a good idea to have a separate credit card you use solely for business expenses. (See also: <a href="http://www.wisebread.com/when-you-should-get-a-business-credit-card-over-a-consumer-card?ref=seealso" target="_blank">When You Should Get a Business Credit Card Over a Consumer Card</a>)</p> <p>By having a card solely for your side gig, you will be able to manage your business deductions quickly and accurately. When you do your taxes, or if you work with a tax professional, you just need your credit card statements to get an accurate picture of your expenses and deductions. Some business cards even offer special reporting tools that automatically itemize your spending for you. This can greatly streamline your accounting process and save you some trouble come tax time.</p> <p>Many business credit cards offer other unique benefits, such as <a href="http://www.wisebread.com/how-free-extended-warranties-work-on-credit-cards" target="_blank">extended warranty protection</a> and rewards targeted specifically for business-type purchases. They also tend to come with higher limits than personal credit cards. If you need to make a substantial business expense but don't want to dip into your own savings or take out a business loan, these higher limits can be a huge help. They're also a great way to build credit for your business, should you ever need a loan or other financing down the road. (See also: <a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses?ref=seealso" target="_blank">The 5 Best Credit Cards for Small Businesses</a>)</p> <h2>3. Invoicing system</h2> <p>While you can find free invoice templates online and create your own in Microsoft Word or Google Docs, it's a good idea to use a professional invoicing system. Invoicing software tracks clients, invoice numbers, and your profits. They are more accurate than something you create on your own, and they look more professional than the do-it-yourself approach.</p> <p>And you don't have to spend a lot of money to create polished invoices. There are a number of <a href="http://www.wisebread.com/5-free-accounting-tools-for-freelancers?ref=internal" target="_blank">free and low-cost bookkeeping programs</a> out there that are designed specifically for freelancers and side hustlers. <a href="https://pocketsuite.io/pricing/" target="_blank">PocketSuite</a>, <a href="https://www.freshbooks.com/" target="_blank">Freshbooks</a>, and <a href="https://www.waveapps.com/accounting/" target="_blank">Wave</a> are excellent and no-cost options that can help streamline your business management.</p> <h2>4. Tax professional</h2> <p>While many people opt to do their own taxes, when you add a side business to the mix, a tax professional can be a huge asset. When you're self-employed or freelancing, even on a part-time basis, you owe self-employment taxes, which can be complex and confusing. You'll receive forms 1099-MISC from any clients that have paid you more than $600 during the tax year. If you receive a 1099-MISC, you have to pay self-employment taxes. Not to mention if you add expenses in the mix, you'll want to make sure you are claiming the proper deductions.</p> <p><a href="http://www.wisebread.com/3-reasons-to-hire-a-tax-professional-even-if-you-dont-mind-the-work?ref=internal" target="_blank">Tax professionals</a> can help you navigate paying estimated quarterly taxes, or calculate how much money you need to withhold from your main job's salary to avoid paying quarterly taxes. They can also identify deductions and credits you may be eligible for, such as a home office or education deduction. These are substantial tax breaks that no self-employed individual should overlook. You want to be sure you're claiming any deductions or credits accurately in order to receive the maximum benefit possible. A tax pro can help you do this.</p> <p>By working with a professional, you'll have overall peace of mind and avoid any surprises at tax time.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kat-tretina">Kat Tretina</a> of <a href="http://www.wisebread.com/4-big-business-accounting-tools-every-side-gig-needs">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-freelancers-can-make-sure-they-get-paid-on-time">8 Ways Freelancers Can Make Sure They Get Paid on Time</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-surprising-ways-to-earn-money-online">7 Surprising Ways to Earn Money Online</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-earn-extra-income-with-a-drone">How to Earn Extra Income With a Drone</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-ways-to-earn-extra-money-with-your-car">7 Ways to Earn Extra Money With Your Car</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-i-make-800-on-month-on-ebay-selling-used-clothes">How I Make $800 on Month on eBay Selling Used Clothes</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Entrepreneurship Taxes accounting audits banking business tools freelancing invoices side gig side hustle tax professional Fri, 21 Apr 2017 08:30:15 +0000 Kat Tretina 1931275 at http://www.wisebread.com 8 Ways a Side Hustle Can Advance Your Career http://www.wisebread.com/8-ways-a-side-hustle-can-advance-your-career <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/8-ways-a-side-hustle-can-advance-your-career" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-635977934.jpg" alt="Man learning ways a side hustle can advance his career" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Some people call it moonlighting. Others call it a &quot;hobby that pays.&quot; Whatever you call <a href="http://www.wisebread.com/earn-extra-income-with-these-15-creative-side-gigs?ref=internal" target="_blank">your side hustle</a>, it's not just something that can bring in a little extra cash. A side hustle can be a valuable addition to your main career, giving you skills and connections you would never normally acquire.</p> <p>So the big question is, if you don't yet have a side hustle&hellip;will these eight benefits inspire you to get one? (See also: <a href="http://www.wisebread.com/15-ways-to-make-money-outside-your-day-job?ref=seealso" target="_blank">15 Ways to Make Money Outside Your Day Job</a>)</p> <h2>1. Learn Valuable Project-Juggling Skills</h2> <p>Handling several projects at once may well be part of your current career. However, once you add in the additional work from your side hustle, you go from being a moderate juggler to a master of the art.</p> <p>With a side job, your schedules might clash. And when that happens, you can't really tell your boss that you can't do the work because you have an extracurricular project on your plate. With a main career and a side hustle, you become an expert in time management and scheduling. You also learn, quite quickly, how much you can take on without burning out. These are all skills that will do you well in your main career.</p> <h2>2. Enjoy More Freedom at Work</h2> <p>A side job means additional money that isn't coming from your main career. While this has many benefits (the more different streams of revenue you have, the better), it also gives you something other people in the same role may not have &mdash; freedom.</p> <p>The lure of money, or a promotion, can often make people do things they wouldn't like to do, but will anyway because of the need for additional income. If you already have that additional money from another source, you can say no to some of the projects you aren't interested in. You can speak up in meetings without fearing that your pay raise may be on the line. In fact, some people have discovered that this actually helps their career, with their newfound ability to be honest and confident actually helping them get a raise or promotion they otherwise would have missed out on.</p> <h2>3. Stand Out From the Crowd</h2> <p>This is a hirer's market, in almost every industry. Demand for jobs is outpacing supply, and when that happens, you quickly become engaged in a battle to be noticed. Why you? Why your resume? There are dozens, if not hundreds, to choose from.</p> <p>Well, a side hustle can add much needed diversity and drive to your list of skills. Think about it. Two very similar people come for an interview, say for an account executive position. One has the usual skills, and the typical career path. The other has the same, but then you notice that they also have written articles for an industry magazine, and given speeches at major marketing events. On top of that, they have their own successful drop shipping business on eBay. One is clearly a go-getter, and can handle the pressure well. Plus, they have way more experience outside of work.</p> <h2>4. Add More Strings to Your Bow<strong> </strong></h2> <p>Aside from simply standing out to prospective employers, your additional experience from side jobs can have a real impact on your current position. For example, someone may start at a junior position in a firm, with the very narrow set of skills that are required for that role. However, by taking on a side job, perhaps in a field quite different from their chosen profession, they may find themselves with brand-new abilities that really help. A lawyer who takes a side job doing acting in local commercials, or voice over work, suddenly finds that he or she has become a much more skilled orator in the courtroom.</p> <p>This happens often in the fields of advertising, marketing, and public relations, too. Look for jobs that may not initially seem to fit, but have qualities that could reach into your chosen career. You may be surprised at the benefits.</p> <h2>5. Get a Great Confidence Boost</h2> <p>Success breeds confidence. If you become successful in your side hustle, it will seamlessly start to affect your main career. And so it should. If you were doing &quot;just okay&quot; in your main career, but suddenly found great success in your side job designing websites, or selling your own jewelry collections on Etsy, your confidence will get a much-needed boost. It won't take long for that confidence to influence your current role in your main gig.</p> <p>Now, you have a little more steam in your stride. You're a little surer of your abilities, and your decisions. Before you know it, the success you found in your side job is being dwarfed by the successes you're having at work.</p> <h2>6. Open Up New Opportunities</h2> <p>Any time you move in professional circles outside of your main career, you are opening new doors for opportunity. If you have been in one company, and one role, for a long period of time, your contacts and business networks may be stagnant. They're good. But they're not growing. They're just the same &quot;business as usual&quot; leads.</p> <p>However, your side job can open up dramatically different networks. And while you may think that the two cannot combine, don't be so sure. It's entirely possible to meet someone who has an interest in what you do as a main career, but who found you because you make awesome beer, or provide a killer cake baking service. Great business connections can come from all walks of life. They don't all have to come from the same pond.</p> <h2>7. Give Yourself a Second Career to Explore</h2> <p>A career now is not the same as a career 60 years ago. No one these days can expect to start at a company in a junior position and leave at retirement age with a gold watch and a big party.</p> <p>Employment rules have changed. Technology is moving faster than any of us can really comprehend. And it is dangerous to have only one set of skills for one career. Your side hustle can be a huge benefit here. It can give you skills you would never get through your main career, and should the worst happen, you may be able to turn that side hustle into a full-time job. It's quite possible the job you do now, for a bit of extra money, will be your life preserver in a few years' time.</p> <h2>8. Find Fulfillment and Do What You Love<strong> </strong></h2> <p>They say that if you do a job you love, you'll never work a day in your life. &quot;They&quot; don't all live in the real world. Most of us are not fortunate enough to do a job we love, day in, day out. There may be moments of joy, but often, it's a matter of going through the motions and waiting for the clock to wind down.</p> <p>With a side hustle, you really can love what you do. Sure, it brings in a little money, but it can provide much greater benefits than that. It can be a creative outlet, or a way to meet new people, and enjoy new experiences. If you've always wanted to paint murals, but work in a bank&hellip;do both! If you love being a kids' entertainer, do parties on weekends. You can find fulfillment, if you really look for the opportunities.</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/paul-michael">Paul Michael</a> of <a href="http://www.wisebread.com/8-ways-a-side-hustle-can-advance-your-career">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-turn-your-stress-into-money">8 Ways to Turn Your Stress Into Money</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-ways-to-make-money-outside-your-day-job">15 Ways to Make Money Outside Your Day Job</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-ways-to-earn-extra-money-with-your-car">7 Ways to Earn Extra Money With Your Car</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-great-side-jobs-for-introverts">10 Great Side Jobs for Introverts</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-ways-even-ordinary-people-can-become-paid-models">5 Ways Even Ordinary People Can Become Paid Models</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career Building Extra Income advantages benefits confidence freelancing fulfillment revenue streams side hustle side jobs small businesses success Wed, 08 Feb 2017 10:30:32 +0000 Paul Michael 1888337 at http://www.wisebread.com My 2016 Budget Challenge: Reduce Debt or Save for an Emergency? http://www.wisebread.com/my-2016-budget-challenge-reduce-debt-or-save-for-an-emergency <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/my-2016-budget-challenge-reduce-debt-or-save-for-an-emergency" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock-491311400.jpg" alt="should max reduce her debt or build an emergency fund?" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p><em>[Editor's Note: This is another episode in Max Wong's journey to find an extra $31,000 this year. Read the whole series </em><a href="http://www.wisebread.com/topic/max-wongs-budget-0" target="_blank"><em>here</em></a><em>.]</em></p> <p>Uh oh. Mr. Spendypants' contract is up. We anticipated that he might be out of work in mid-October and have been putting money into an emergency fund all year long for just this occurrence. The situation is not completely dire, as his company has paying work until March 2017. We have a very minor reprieve.</p> <p><em>Very</em> minor.</p> <p>As luck would have it I am also under-employed. I got furloughed this week by not one, but two jobs until a date that has yet to be named in 2017. Ugh. Really? I guess it's not just me who is strapped for cash at the end of the year.</p> <p>The big conversation Mr. Spendypants and I have been having all week is this: Should we continue to put money toward the $31,000 Budget Challenge, or should we put that extra money into our emergency fund in the event that Mr. Spendypants is unemployed come March and I am still under-employed?</p> <h2>The Argument Against Staying the Course</h2> <p>Who knows what impact the new administration will have on the economy? We currently have slightly over $13,000 in our emergency fund, enough to live off of for four months. But what if the job market tanks and we can't find jobs for six months or a year? Putting all our money into the emergency fund is obviously the less risky move.</p> <h2>The Argument for Staying the Course</h2> <p>Mr. Spendypants is really good at his job in video games. He's had his choice of companies to work for in the past. Also, the video game industry is fairly recession-proof because games provide cheap entertainment for the out-of-work masses. We do trust that with his talent and his 20 years of connections in the industry that he has a 90% chance of quickly finding another paying job, perhaps even before his current job ends in March.</p> <p>Naturally, the real financial wildcard in this situation is me, Mr. Spendypants' deadbeat wife. If Mr. Spendypants can't find full-time work quickly, will I be able to get a job that pays me enough to cover 100% of our bills? Probably not.</p> <p>That said, if push came to shove, we could definitely cover the mortgage with my current collection of little jobs. I will just have to freelance that much harder, with no weekends or evenings off. And, even if Mr. Spendypants couldn't find a full-time gig, he could also rustle up some part-time freelance work to cover the rest. The worst case scenario: He goes on unemployment and we have to stop putting money in our retirement fund every month.</p> <p>Also, if we continue to aggressively attack our $31,000 debt instead of putting all the extra money into the emergency fund for the next two months, we're potentially saving money in the long run on interest. Our debt load won't be so bad if we find ourselves in a financial pinch four months from now. It's much easier to weather a financial downturn, be it personal or global, if you have a small nut to cover.</p> <h2>How to Hedge Our Bet</h2> <p>After a lot of discussion and number crunching, we have decided to stay the course and continue to put money toward both the emergency fund and the $31,000 budget challenge.</p> <p>This is the riskier choice. To hedge our bet, we've decided to sell off anything in the house we don't totally love to make some extra money. This is a win-win situation for both of us. I get the hated clutter out of my house, and Mr. Spendypants gets more peace of mind.</p> <p>Initially, Mr. Spendypants wasn't sure that we could make enough money selling used housewares to keep us afloat. Unlike me, he hasn't sold a lot of stuff online. When a copy of Kuon, an old video game that I had listed on eBay for $199, was snapped up in under an hour, he was convinced.</p> <p>Although I would love to systematically go through our house Mari Kondo-style, Mr. Spendypants doesn't want to have to look at a giant stack of merchandise in the middle of the living room. As a compromise, we're going to do a series of mini-purges where we only pull the things that we can sell that week into a common area for sorting and packing. Since I will be the one managing our online inventory and sales, this means a lot more hunting and packing for me, but I'm not going to argue about it. I have been trying to get Mr. Spendypants to downsize since we moved into Dinky Manor eight years ago. If a little financial panic is what it takes for him to get rid of belongings that have gone unused for years, I'll take it.</p> <h2>Progress So Far</h2> <p>I had the death flu for most of October. One of the suckiest things about the gig economy is that there are no sick days for people who work from home. If I don't do work, I don't make any money. Because I was sick in bed through the middle of the month, I only made $324 creating a database for my real estate agent and $199 selling Kuon on eBay. I am now, also, two weeks behind on all my work, which is kind of a nightmare. The only positive thing about getting the flu is that I was too sick to go shopping for anything, even food, so we didn't actually spend any money.</p> <p>While I was suffering at home, Mr. Spendypants was suffering at work. His schedule was so crazy, that his bosses ordered dinners in to incentivize him to work late. Between the long hours and the catered meals, he was too busy to go shopping for anything, even food, so he managed to sock away $1,101 from his paycheck.</p> <p><strong>Goal:</strong> $31,000</p> <p><strong>Amount Raised:</strong> $25,219.17</p> <p><strong>Amount Spent:</strong> $12,853.66</p> <p><strong>Amount Left to Go:</strong> $18,634.49</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/max-wong">Max Wong</a> of <a href="http://www.wisebread.com/my-2016-budget-challenge-reduce-debt-or-save-for-an-emergency">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-3"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-three-lessons-about-saving-one-husband-learned-in-a-year">My 2016 Budget Challenge: Three Lessons About Saving One Husband Learned in a Year</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-does-taking-a-regular-day-job-mean-giving-up">My 2016 Budget Challenge: Does Taking a Regular Day Job Mean Giving Up?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-job-creation">My 2016 Budget Challenge: Job Creation</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-what-to-do-with-a-totaled-car">My 2016 Budget Challenge: What to Do With a Totaled Car</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-everything-breaks">My 2016 Budget Challenge: Everything Breaks</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Budgeting budget challenge clutter emergency funds employment freelancing max wongs budget saving money selling online Fri, 23 Dec 2016 10:30:31 +0000 Max Wong 1860472 at http://www.wisebread.com 5 Ways to Ease Into a Day Job After Freelancing http://www.wisebread.com/5-ways-to-ease-into-a-day-job-after-freelancing <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-ways-to-ease-into-a-day-job-after-freelancing" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_47841776_MEDIUM.jpg" alt="easing back into a dayjob after freelancing" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Freelancing gives you the freedom to set your own hours and work at your own pace. Some people consider this the ideal situation, and after making the switch <a href="http://www.wisebread.com/can-you-really-make-a-living-as-an-ebook-writer">from employee to freelancer</a>, they vow never to return to the workplace. Of course, anyone's professional situation &mdash; the amount of money coming in to keep you fed and sheltered &mdash; can change in the blink of an eye, and some of us have to get a &quot;real&quot; job again. Sound familiar? Then listen up! Whether you're looking for steady, predictable income, or you're making a switch because you need benefits like health care, these are the ways to ease back into a regular daytime gig with minimal stress.</p> <h2>1. Find a Job You're Passionate About</h2> <p>Freelancers enjoy a freedom unlike any other, and after years of working for yourself, it can be difficult to ease back into a routine of punching a time clock and having a boss breathing down your neck. Getting a regular day job might be a necessity and not a choice. But even if you can't change your overall circumstances, you can be choosy when it comes to accepting a position. The transition from freelancer to 9-to-5 employee will be harder if you hate what you do. On the other hand, if you find a job that excites and challenges you, it'll be easier to get up in the morning and leave your house.</p> <h2>2. Seek Opportunities That Offer Flexibility</h2> <p>Nowadays, it's not unusual to see employers advertising flexible positions. Some employers recognize the benefit of telecommuting, and they allow certain personnel to work from home or only come into the office a couple days a week. If you prefer the stability of a steady paycheck, but you want the ability to work independently, seek opportunities that provide the best of both worlds.</p> <p>If telecommuting isn't an option, it'll also be easier to ease back into a regular day job if you find a position that lets you work at times when you're most productive. Maybe you perform better when able to start your workday in the late morning or the afternoon. Although a 9-to-5 work schedule is common, it's not the only option, and you'll find that many companies offer their employees a variety of schedules.</p> <h2>3. Split Your Time Between a Regular Day Job and Freelancing</h2> <p>Another option is splitting your time between a regular day job and freelancing. A regular job can provide the income stability you need, but enjoying this stability might not require a full-time gig. Rather than jump head first into the full-time grind, work a few hours with an employer and freelance for the remainder of the day to supplement your income. For this approach to work, you'll need a few regular freelance clients who can provide a steady stream of work. Easing into a day job is easier when you're only working four hours a day.</p> <h2>4. Pace Yourself</h2> <p>Successful freelancers are hard workers and they wear many hats. They spend their days working on projects, hunting for new clients, invoicing, handling client issues, and some freelancers have multiple income streams to make ends meet. It's a busy, hectic life, and it's easy to develop a pattern of always being in work-mode and constantly hustling.</p> <p>Working at this pace can become a normal part of your daily routine &mdash; to the point where you forget how to work at a slower pace. As you ease back into a regular day job after years of freelancing, you may bring a few bad habits with you, such as working until you're numb, never taking a break, or thinking you have to accept every opportunity you're offered.</p> <p>While you'll want to be a team player and take the initiative on your new job, you have to remember that the company's success doesn't lie on your shoulders. Pace yourself or else you'll burn out.</p> <h2>5. Stick to a Regular Sleep Schedule</h2> <p>Some freelancers don't start their workdays in the morning. Instead, they begin working in the late morning, afternoon, and some don't work until the evening hours. If you're a night owl and used to sleeping in, the transition from freelancer to employee is especially challenging when you have to rise early and be at a desk by 8 a.m.</p> <p>This doesn't mean you have to hit the sheets by 8 p.m. after getting a regular day job, but you will need to get enough sleep to wake up on time and function during the day. Being in a constant mental fog because you didn't get enough sleep, and running late every morning only prolongs the adjustment period.</p> <p>Easing into a fixed, eight-hour schedule after years of a flexible, non-fixed schedule can leave you physically and mentally exhausted. Getting plenty of sleep and staying active makes a difference. Walk on your lunch break or pace your office for a couple minutes every hour. Activity can increase your energy and improve your mental and emotional health, which can be the mood booster you need to accept your changed circumstances.</p> <p><em>Have you recently made the transition from freelancer back to a more structured position? How has the transition been? Share with us in the comments below.</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/mikey-rox">Mikey Rox</a> of <a href="http://www.wisebread.com/5-ways-to-ease-into-a-day-job-after-freelancing">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/day-job-or-freelance-which-is-right-for-you">Day Job or Freelance: Which Is Right for You?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-write-a-resume-12-steps-to-your-next-job">How To Write A Resume: 12 Steps To Your Next Job</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-radical-implosion-can-help-you-get-ahead-at-work-and-everywhere-else">How &quot;Radical Implosion&quot; Can Help You Get Ahead at Work — and Everywhere Else</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-deal-when-you-work-with-someone-you-hate">8 Ways to Deal When You Work With Someone You Hate</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-work-perks-you-cant-get-as-a-freelancer">10 Work Perks You Can&#039;t Get as a Freelancer</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career and Income Life Hacks 9-to-5 career day job etiquette freelancer freelancing full-time job job life hacks Thu, 21 Jul 2016 09:00:12 +0000 Mikey Rox 1756335 at http://www.wisebread.com My 2016 Budget Challenge: Does Taking a Regular Day Job Mean Giving Up? http://www.wisebread.com/my-2016-budget-challenge-does-taking-a-regular-day-job-mean-giving-up <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/my-2016-budget-challenge-does-taking-a-regular-day-job-mean-giving-up" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_job_search_9131941.jpg" alt="Woman wondering if taking a day job is giving up" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p><em>[Editor's Note: This is another episode in Max Wong's journey to find an extra $31,000 this year. Read the whole series </em><a href="http://www.wisebread.com/topic/max-wongs-budget-0" target="_blank"><em>here</em></a><em>.]</em></p> <p>Although most people hate their boring job, there is something to be said for mindless labor &mdash; at the end of the workday, you can leave the job at the office. I am currently looking for a regular, turnkey job, and money is not even the first reason why.</p> <h2>I Am Tired of Thinking</h2> <p>I know. This seems like a stupid thing that only a stupid person would say. But I am really tired at the end of every day. Like, my brain is worn out. And, when I wake up in the morning, I don't feel mentally refreshed. In fact, my first thought upon waking is a rundown on that day's To Do list, which is basically the list of what I didn't finish the day before.</p> <p>Other than having no benefits like health care or a 401K, the biggest drag about my current battalion of creative, freelance jobs is that I have to do 100% of the brainwork. I have to write the stories for Wise Bread. I have to organize the photo shoot. I have to make the jam. If I worked a standard service job, I would have time between customers for reflection or even daydreaming. With my current work, I have no time to work through complex problems or innovate. My creative jobs are actually preventing me from being creative.</p> <p>Yes. This is a first world problem. Most definitely.</p> <h2>Getting Paid by the Gig Is Actually a Problem</h2> <p>I love beekeeping because bees are endlessly fascinating. There is rarely a day that goes by that I don't learn something new about bees or how to keep them. Unfortunately, bees wait for nobody. I have pretty much given up trying to schedule around beekeeping jobs. Also, depending on the size and the grumpiness of the hive, the simplest beekeeping tasks can take five minutes or five hours. While the master beekeeper I assist tells me that I will get better at assessing the work flow as I level-up as a beekeeper, right now I get paid the same for swarm capture jobs whether I get stung once or 20 times.</p> <p>The days that I get stung 20 times are the days I wish I had a salary.</p> <h2>My Random Payment Schedule Is Annoying</h2> <p>I spend all day harvesting lemons and making marmalade on the assumption that I will be able to sell it. While my profit estimates are usually accurate, the schedule of payment never is. Sometime I sell out of jam in 48 hours and sometimes it takes months for me to sell 100 jars. I know that I will make $4,000 in profit if I sell my entire summer harvest of honey, but I might not make the brunt of those sales until Christmas rolls around. Meanwhile, I still need $423 by next week as the minimum payment on my bank loan.</p> <p>Okay, thanks for letting me get all that whining off my chest.</p> <h2>Hooray! Three Job Offers</h2> <p>I had the most peculiar Monday. I got three job offers in one day.</p> <p>I woke up to the first job offer. A tech startup wants to hire me to write content for their blog. It's an intriguing company &mdash; working in affiliate marketing &mdash; a white-hot space right now. Creatively I said yes, but financially, I said no. The company isn't funded, and I currently can't afford to take a spec job for someone else. If I am going to work for free, it has to be for me.</p> <p>I am sure I am walking away from a million dollar opportunity.</p> <p>The second job came through a knitting buddy who has created a probiotic cookie that Los Angeles foodies are going crazy over. She's never run a company and needs someone to be her factory manager. Although I have experience working as a private cook, I don't have the mass production experience she needs to make the jump to the big leagues. With my family's restaurant background, I feel like I could probably figure out what she needs to do to get her product into Whole Foods. Even though a salaried job is so tempting, I know that running any kind of food-based company is a 24-hour job that will take over my life and brain. I don't take her up on the job, but I do take her up on the offer of free cookies. I need probiotics. And cookies.</p> <p>I am sure I am walking away from a million dollar opportunity.</p> <p>The third job came from my sister who is an illustrator. The company she works for is short on freelance inkers. Since I have never worked as an inker, I am naturally worried that I will fail spectacularly at the job and bring shame upon my entire family.</p> <p>Here's her assessment of my skills: &quot;I think you're going to get this. Your obsessive tendencies and perfectionism&hellip;well, you are like a meth user without the meth. Those are the makings of a good freelance inker. How fast can you learn Adobe Illustrator?&quot;</p> <p>That's comforting, I think.</p> <p>My sister hadn't considered me for the job before because she thought I would get bored with the assembly line aspect of the work. But then she discovered that her boyfriend's brother just made $50,000 in two months working as a freelance inker. Granted her boyfriend's brother is like a cyborg with a stylus and is super fast on Adobe Illustrator, but if that guy could make $25,000 in a month, I could at least manage that amount of work by the end of the year. This is my sister's plan to help me make my $31,000 budget challenge.</p> <p>What makes me think this is the dream-come-true, turnkey job isn't even the pay, it's my sister's description of the work: &quot;It's mindless, but never boring. It's relaxing, like coloring.&quot;</p> <p>It's times like this that I could kiss my fine arts degrees. And my sister.</p> <h2>Progress So Far</h2> <p>My husband managed to save $600 from his last paycheck. I made $410 from writing gigs and $15 running an errand for a neighbor. While we didn't earn much this pay period, we managed to spend $0 in the last two weeks because we were both submerged in work.</p> <p><strong>Goal:</strong> $31,000</p> <p><strong>Amount Raised:</strong> $19,905.84</p> <p><strong>Amount Spent:</strong> $10,653.66</p> <p><strong>Amount Left to Go:</strong> $21,747.82</p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/max-wong">Max Wong</a> of <a href="http://www.wisebread.com/my-2016-budget-challenge-does-taking-a-regular-day-job-mean-giving-up">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-reduce-debt-or-save-for-an-emergency">My 2016 Budget Challenge: Reduce Debt or Save for an Emergency?</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-where-to-find-cheap-training-for-a-new-career">My 2016 Budget Challenge: Where to Find Cheap Training for a New Career</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-job-creation">My 2016 Budget Challenge: Job Creation</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-work-perks-you-cant-get-as-a-freelancer">10 Work Perks You Can&#039;t Get as a Freelancer</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/my-2016-budget-challenge-what-to-do-with-a-totaled-car">My 2016 Budget Challenge: What to Do With a Totaled Car</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Frugal Living Career and Income budget challenge employment entrepreneurs freelancing job search max wongs budget new jobs Fri, 24 Jun 2016 10:00:05 +0000 Max Wong 1737543 at http://www.wisebread.com The Smart Way to Budget on a Freelance Income http://www.wisebread.com/the-smart-way-to-budget-on-a-freelance-income <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/the-smart-way-to-budget-on-a-freelance-income" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/iStock_000081820163_Large.jpg" alt="Learning to budget on a freelance income" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>If the <a href="https://www.upwork.com/press/2014/09/03/53-million-americans-now-freelance-new-study-finds-2/">53 million freelancing Americans</a> agree on one thing, it's that their lifestyle gives an unbeatable level of flexibility, and can be an extremely lucrative working model. If there was a second thing the global freelance community might agree on, however, I would bet that it's the fact that managing your money as a freelancer can be a nightmare.</p> <p>With income varying month by month, budgeting can be tricky &mdash; but having a solid budget is all the more important because of the normal fluctuations of income most freelance workers experience. So how do you go about setting a budget as a freelancer? The following steps can guide you.</p> <h2>Step One: Determine What You're Spending</h2> <p>Before you can start creating a budget, you need to get a picture of how your spending looks today. Set a challenge for yourself to record all your expenses over the course of a month. This could be using pen and paper, collecting receipts, and then adding them all up later, or using one of these <a href="http://www.wisebread.com/10-sites-and-apps-to-help-you-track-your-spending-and-stick-to-your-budget">great spending tracker apps</a>.</p> <p>Once you have some measurable data about your spending patterns, group different expenses together, and add in the known costs that did not occur during your test month. If you pay annual insurance premiums, or other annual bills, for example, divide the total by 12, and add that figure to your monthly calculation.</p> <p>As an example, you may put together the following categories:</p> <ul> <ul> <li><strong>Housing</strong> &mdash; rent or mortgage, utilities, insurance</li> <li><strong>Debt</strong> &mdash; credit or store cards, student loans</li> <li><strong>Transport and commuting</strong> &mdash; public transit ticket costs, or car loan, petrol, parking and servicing costs, as well as any insurance you pay</li> <li><strong>Taxes</strong> (As a freelancer this is especially important!)</li> <li><strong><strong>Savings</strong></strong></li> <li><strong>Personal expenses</strong> &mdash; food, phone bills, vacations, clothes, gifts, parties, and regular health costs</li> <li><strong>Fun</strong> &mdash; all entertainment</li> </ul> </ul> <p>The categories you choose will vary according to your lifestyle, but by grouping them like this, you have an overview &mdash; which is helpful if you later decide you need to trim the budget a little.</p> <h2>Step Two: Create a Baseline Budget</h2> <p>Your goal now is to create a <em>survival </em>budget, and an <em>ideal </em>budget. The survival version is your baseline, and should not include any unnecessary costs. This is your worst case scenario information about how much you need to spend, even if there is a problem and you're out of work for a while.</p> <p>The ideal version can be much more relaxed &mdash; covering your preferred spending levels and any discretionary spending on hobbies and entertainment.</p> <p>Scrutinize your recorded spending by category. Remove any optional costs, and add the categories together for your baseline monthly budget. Once you have done this, you can put the fun stuff back into your budget &mdash; along with your preferred levels of saving, and any discretionary spending, like donations to charities. You should now have a monthly total for your minimum and ideal levels of spending.</p> <h2>Step Three: Optimize Where Possible</h2> <p>Now is the time to look at your monthly income. As a freelancer, this might vary significantly month-to-month, so taking your annual income and dividing it by 12 for an average can make the process easier. If you are more risk averse, or have little or no financial cushion at the moment, then you may choose to take your lowest month's income as your model instead of an average.</p> <p>How does your monthly income match up with your projected baseline and ideal budget? This exercise should give you a view of how realistic your figures are, but if your income falls below your survival budget, then you need to think about how you can make the numbers match.</p> <p>Are there other items you can remove from your budget, or can you reduce regular costs such as utilities or insurance premiums? Alternatively, can you <a href="http://www.wisebread.com/11-freelance-jobs-that-pay-surprisingly-well">bring in some extra income</a> on top of your usual workload to help balance the books?</p> <h2>Step Four: Pay Yourself</h2> <p>Set yourself a trial budget, factoring in both your expected income and your necessary expenses. If it looks like you can be quite comfortable on the income you expect on a monthly basis, then go with your ideal budget. But if you're concerned, then try the baseline budget for a while to see how it works out.</p> <p>Whichever spending level you go for, pay yourself a paycheck to help you smooth out the ups and downs. You could do this quite literally, by billing clients to one account and transferring only a fixed amount to your main spending account on a monthly basis.</p> <p>Your aim is to even out your spending, so any additional income you make in a lucrative month can be saved, and added to an emergency fund or used as a financial cushion for periods when income falls.</p> <h2>Step Five: Make a Long-Term Plan</h2> <p>If you're able to earn enough to support your chosen lifestyle, then over time you will be able to create a financial buffer and build savings. If you use any extra income mindfully, rather than allowing your spending to creep up without noticing it if your earnings increase, then you can repeat the budgeting exercise as your personal circumstances and needs change.</p> <p>More of us are now working in a freelance model, and studies suggest that anything from 40%&ndash;50% of workers will be working freelance by 2020. With freedom-loving Millennials quickly becoming the largest segment of the working population, this is hardly surprising. But with the struggles faced by freelancers trying to budget effectively, the Gen Y trailblazers already reshaping the future of work now need to turn their attentions to planning their finances.</p> <p><em>How do you manage your freelance budget? Share your tips in the comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/claire-millard">Claire Millard</a> of <a href="http://www.wisebread.com/the-smart-way-to-budget-on-a-freelance-income">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-5"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-make-400-a-week-as-a-pet-sitter">How to Make $400+ a Week as a Pet Sitter</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/16-festive-ways-to-make-extra-money-for-the-holidays">16 Festive Ways to Make Extra Money for the Holidays</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-unexpected-side-benefits-of-your-side-hustle">5 Unexpected Side Benefits of Your Side Hustle</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-i-make-800-on-month-on-ebay-selling-used-clothes">How I Make $800 on Month on eBay Selling Used Clothes</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-make-more-money-as-an-uber-driver">How to Get a High Rating and Make More Money as an Uber Driver</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Budgeting Extra Income extra money freelance freelancing side business side hustle side job Wed, 20 Apr 2016 09:30:26 +0000 Claire Millard 1693788 at http://www.wisebread.com 15 Ways to Make Money Outside Your Day Job http://www.wisebread.com/15-ways-to-make-money-outside-your-day-job <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/15-ways-to-make-money-outside-your-day-job" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/000023241641.jpg" alt="" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Extra money is great. At a minimum, extra income is more change in your pocket. Beyond that, it can diversify your income sources and make your finances less vulnerable to a disruption.</p> <p>There are many types of non-salary income, but one way they're often divided up is passive versus non-passive. Consider these 12 sources of additional income.</p> <h2>Passive Income</h2> <p>Passive income tends to be investment income: Money you get for letting someone use your money or your stuff. Here are the classic categories of passive income. (By and large, this whole category is only available if you have money to invest.)</p> <h3>1. Interest</h3> <p>Interest is money you get from something like a bond, CD, or savings account, where someone pays you to use your money.</p> <p>Not so long ago &mdash; before the financial crisis &mdash; there were plenty of reasonably safe interest-bearing investments that paid 3%, 4%, or even 5% over inflation. Those days are long gone. Now, CDs or bonds can barely beat inflation, and that's only if you're willing to tie your money up for a long time. Still, interest income can serve as a secondary income stream, and the opportunities are likely to get better in the near the future. (So, be careful about locking up your money for the long term at current rates.)</p> <h3>2. Dividends</h3> <p>Dividends are your share of the income earned by companies in which you own stock, and are also earned from baskets of investments that hold stocks, such as ETFs or mutual funds. Unlike the interest earned on a bond or CD, dividends can rise or fall unpredictably, depending on the success of the firm or the fund. Although some risky companies can pay high dividends, stable companies tend to offer modest returns, typically under 5%.</p> <h3>3. Rents</h3> <p>In theory, rents can be pure investment income, like interest and dividends, but in practice, being a landlord is more like taking on a second job &mdash; you have to find tenants, accept rent payments, keep the building maintained, deal with broken appliances, and so on. You can hire a management company to do that work, but that's an extra expense &mdash; and the income still isn't purely passive, because you still have the work of managing your relationship with the management company.</p> <p>Still, rental income can be an incredibly flexible second income stream. Airbnb, RelayRides, and similar companies now enable individuals to rent out things like spare bedrooms, vehicles not in use, and earn extra income with less effort.</p> <h3>4. Royalties</h3> <p>Royalties are money that you get for letting someone make more limited use of something that you own. If an oil company operates a well on your land, they'll pay royalties. If a publisher sells a book that you wrote, they'll pay royalties. The possibilities are vast, and in essence include anything people can use &mdash; land, books, photos, patents, trademarks, etc.</p> <p>It's worth noting that most people who sit down to write a book don't end up getting any significant income from it. That's probably even more true of people who sit down to invent something. Still, books, online stock photography, and even less-successful inventions can all generate extra income and diversify your earnings.</p> <h2>Non-Passive Income</h2> <p>Non-passive means you have to get out there and hustle up this extra income in your spare time. Some take a lot of hustle.</p> <h3>5. Working Another Regular Job</h3> <p>For someone working for wages, a second (or third or fourth) job is a classic source of extra income. If you're working for a salary, you'd probably be breaking your employment agreement to work another job, but there are ways to work for pay without breaking the rules. Check with your employer to determine your company's specific policies.</p> <h3>6. Working at an Irregular Job</h3> <p>Not all jobs require a regular time commitment. Some can be done on an ad-hoc fashion, such as:</p> <ul> <li>Casual labor, like a handyman, house painter, gardener, house cleaner, or dog walker.<br /> &nbsp;</li> <li>Freelance work (usually skilled or semiskilled labor done outside the range of regular employment), such as a web designer, photographer, adult education instructor, bicycle messenger, etc. Many occupations that fall into this category require special training, certification, or even licensing.<br /> &nbsp;</li> <li>Seasonal work, such as a department store Santa, sheep shearer, etc.</li> </ul> <h3>7. Service Something That Makes Money</h3> <p>The classic option here is a vending machine. Your investment is modest &mdash; the cost of the machine, and the cost to stock the machine the first time. Your labor is modest &mdash; visiting the machine to restock it and remove the cash.</p> <p>Vending machines used to be a great way to make a modest amount of money, especially if you knew someone who would let you put a machine in a reasonably high-traffic area either for free, or for a piece of the action. You could start small and then buy more machines. Back in the day when coin-operated video games were a thing there wasn't even any restocking needed &mdash; you just went as often as necessary to take out the money.</p> <h3>8. Running a Small Business</h3> <p>Running a small business can be a great way to make money from a source other than your salary. The range of options for small business are infinite. Just for starters, virtually all the &quot;irregular job&quot; items from the previous section could be just as easily arranged as a small business. Instead of painting houses or walking dogs, you start a house painting or dog walking business. Plus, running a business may confer certain tax advantages (deductions, anyone?) which can make it an even healthier secondary income source. The next two ideas can also be structured as small businesses.</p> <h3>9. Sell Something You Make</h3> <p>The list of things you can make and sell is endless &mdash; jellies and jams, soaps, jewelry, garden produce, baked goods, maple syrup, pottery, scarves, etc. I wrote a bit about the line between hobby and small business in my post <a href="http://www.wisebread.com/make-your-hobby-pay-its-way">Make Your Hobby Pay Its Way</a>.</p> <h3>10. Sell Copies of Something You Made</h3> <p>This is a variation on the point above about royalties. Instead of letting another company sell copies of something that you've created in return for royalties, you can sell the copies yourself.</p> <p>The classic case is self-publishing a book, but there are a lot of other possibilities that fall into this category. For example, If you know how to do something, you could create a video teaching how to do it, and then sell it on DVD.</p> <p>This option really lends itself to digital sales, because the cost of production is zero &mdash; ebooks, online video courses, phone apps, etc.</p> <p>It's tough to make much money this way, because there's so much stuff out there already, often for free. Sales are likely to be low, and unless you have a very narrow, very focused niche, you're going to face a lot of competition.</p> <p>Still, this can be a win, especially if you want to create something for your own reasons &mdash; a phone app that does something you want a phone app to do, a drawing that speaks to you, etc. If you're making the thing because you want to, the extra effort to sell copies is quite small, and will probably bring in a little money.</p> <h3>11. Sell Something You Gather</h3> <p>There are still places where it's legal to collect things and sell them &mdash; mushrooms, pine boughs, sea shells, rocks, insects, etc. Success requires access to a place where you can collect, and usually requires more than a little skill in knowing what's worth collecting, and how to sell it.</p> <h3>12. Sell Something You Buy</h3> <p>If you can buy something cheap and sell it for more than it cost, you can make money on the markup. To make a reasonable profit, you usually have to add value in some way. The two classic ways are: Import the item, or repackage a cheap, bulky item into smaller units.</p> <p><strong>Importation</strong>: Say you find something sold overseas that you really like &mdash; a clothing item or a gadget or a tool &mdash; that just isn't a thing in the U.S. You can find the manufacturer, buy a modest quantity at wholesale, import them into the US, and sell them at a markup. Your added value is the capital to buy the stock and the effort handling the complexities of importation.</p> <p><strong>Repackaging</strong>: Almost anything is cheaper in bulk, sometimes a lot cheaper. My wife buys a brand of quilt soap that's good for washing wool. She can get it in 8-ounce bottles for $8 or $9 dollars &mdash; about $17 a pound. The stuff has a single ingredient: sodium lauryl sulfate, the detergent in baby shampoo. If you buy by the barrel, sodium lauryl sulfate costs less than $1 a pound &mdash; highly profitable, even after paying for bottles. Anybody can do the same thing with anything that's cheap in bulk but can be sold for more in reasonable quantities.</p> <h3>13. Teach a Class</h3> <p>If you have some skill &mdash; and if you also have some skill at teaching &mdash; you can make money offering classes. Where I live, people can arrange to teach classes through the park district, recreation center, the local library, YMCA, community college, and at least two different senior organizations. Many of the stores that sell arts or craft supplies also offer classes with local artists and craftspeople as teachers. And if you're adequately entrepreneurial, you don't need to teach under the auspices of some other organization at all. You can find your own students and teach out of a location of your choice.</p> <h3>14. Put Ads on a Website</h3> <p>Creating a blog or static website and putting Google Ads (or other affiliate programs) on it can generate extra income &mdash; just how much depends on the traffic and ad clicks your site generates. It's a competitive space, but if you can produce a quality site with adequate traffic, it may provide a regular source of additional income.</p> <p>If you have some sales skills, you can also market your site to individual companies and get them to buy ads for a lot more money. That's another piece of work, however. It would make your income a little less passive, because now you're a salesman on top of everything else.</p> <h3>15. Create a YouTube Channel or Podcast</h3> <p>If you like making videos, this can be a source of modest income. If making videos seems like a lot of work, you're going to quit before you make any money from Google Ads on your YouTube channel. Still, if you make videos that go viral, there's the potential to make quite a bit of money. Some YouTube stars derive significant income from their videos.</p> <p>Podcasts are a little more complex to monetize, because you don't have the option of just putting ads on the page somewhere; you actually have to include the ad in the podcast itself. On the other hand, the ads are worth more, because the listener is pretty much stuck listening to the ad from beginning to end.</p> <p>There are podcast networks that offer tools to help with creating and making them easy for listeners to find. Some of them also have ad networks, although you'd probably make more money if you did the work of selling your podcast to sponsors.</p> <p><em>How do you earn extra income?</em></p> <h2 style="text-align: center;">Like this article? Pin it!</h2> <div align="center"><a data-pin-do="buttonPin" data-pin-count="above" data-pin-tall="true" data-pin-save="true" href="https://www.pinterest.com/pin/create/button/?url=http%3A%2F%2Fwww.wisebread.com%2F15-ways-to-make-money-outside-your-day-job&amp;media=http%3A%2F%2Fwww.wisebread.com%2Ffiles%2Ffruganomics%2Fu5180%2F15%2520Ways%2520to%2520Make%2520Money%2520Outside%2520Your%2520Day%2520Job.jpg&amp;description=15%20Ways%20to%20Make%20Money%20Outside%20Your%20Day%20Job"></a></p> <script async defer src="//assets.pinterest.com/js/pinit.js"></script></div> <p style="text-align: center;"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/u5180/15%20Ways%20to%20Make%20Money%20Outside%20Your%20Day%20Job.jpg" alt="15 Ways to Make Money Outside Your Day Job" width="250" height="374" /></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/philip-brewer">Philip Brewer</a> of <a href="http://www.wisebread.com/15-ways-to-make-money-outside-your-day-job">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-4"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-a-side-hustle-can-advance-your-career">8 Ways a Side Hustle Can Advance Your Career</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-new-income-streams-anyone-can-create">5 New Income Streams Anyone Can Create</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-truths-from-a-mystery-shopper-you-must-read-before-you-get-started">8 Truths From a Mystery Shopper You Must Read Before You Get Started</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/9-ways-to-earn-extra-cash-when-money-is-tight">9 Ways to Earn Extra Cash When Money Is Tight</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/find-a-side-gig-at-these-4-best-micro-jobs-sites">Find a Side Gig at These 4 Best Micro-Jobs Sites</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Extra Income freelancing investments non-passive income passive income selling side jobs Thu, 19 Nov 2015 19:03:04 +0000 Philip Brewer 1615339 at http://www.wisebread.com 5 Ways to Grow Your Savings Without a Steady Paycheck http://www.wisebread.com/5-ways-to-grow-your-savings-without-a-steady-paycheck <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-ways-to-grow-your-savings-without-a-steady-paycheck" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/happy_woman_piggy_bank_000031080258.jpg" alt="Woman learning ways to grow her savings without a steady paycheck" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Whether you're a freelancer or part-time employee, not having a regular salary can disrupt your progress toward big financial goals. Money fluctuations can mean you either have to stop the savings transfers, or withdraw money out of the account to cover bills.</p> <p>But saving money without a regular paycheck isn't impossible, and with these tips you can learn to create a savings habit that sticks!</p> <h2>1. Separate All Your Savings Goals</h2> <p>Even if you have a separate savings account, it's too tempting to have all the money in one account while simply allocating the funds to different savings goals. For this reason I recommend <a href="http://www.wisebread.com/4-things-to-consider-before-you-open-an-online-savings-account">opening a new savings account</a> for each individual goal.</p> <p>My husband and I recently did this as an experiment, and for two months in a row we've had a surplus of money in our bank accounts, and have been able to save money toward all of our goals. And we're both self-employed so you know how difficult this can be!</p> <p>While it is possible to have too many accounts, this strategy works for us, and has allowed us to pay all of our bills, self-employment taxes, and save extra money toward various specific goals.</p> <h2>2. Pay Yourself a Regular Salary</h2> <p>As a freelancer, temp, or someone who works on commissions, it's still important to pay yourself a &quot;salary&quot; on a regular basis. I deposit a regular salary from my business account to the household account every Monday &mdash; no matter how little or how much my freelance business brings in.</p> <p>Giving yourself a regular &quot;paycheck&quot; will help combat the inconsistent income that comes with being self-employed. It may take a few months for your budget to adjust to the changes, but it can drastically <a href="http://www.wisebread.com/best-money-tips-improve-your-finances-in-5-minutes">improve your finances</a> and allow you to finally get into the habit of saving money.</p> <h2>3. Try a Microsaving Tool</h2> <p>Microsaving is when you save extremely small amounts of money &mdash; like $2 or $5 a week. As your budget adjusts to the savings, and you begin to see your small balance grow, you can increase the savings amounts. Next thing you know, you've saved a couple hundred dollars that can be used towards anything you want.</p> <p>To make it even easier to save money without thinking, there are several different <a href="http://www.wisebread.com/5-microsaving-tools-to-help-you-start-saving-now">microsaving apps</a> available that will put saving money into automatic mode.</p> <ul> <li><a href="https://digit.co/">Digit</a> is a popular tool that allows you to start saving money via text message. Once you link your account, Digit will start withdrawing a few dollars every week and deposit into your new Digit account, based on your bank balance and only if you can afford it.<br /> &nbsp;</li> <li><a href="https://www.acorns.com/">Acorns</a> is a microsaving investment tool that helps beginner investors or students get their feet wet in the market. Everyone has to start somewhere and Acorn's round-up payment withdrawals makes saving money very easy.<br /> &nbsp;</li> <li><a href="https://www.smartypig.com/">SmartyPig</a> allows you to create individual accounts for each savings goal and keeps you updated on the progress. You can also earn rewards, cash back, and gift cards as incentives to save money.</li> </ul> <h2>4. Find What Motivates You to Save</h2> <p>What motivates you to save money? Are you a competitive person who likes to turn saving money into a challenge? Find a few friends who will commit to a savings competition with you. Whoever reaches the goal first gets a free dinner, night out, or other incentive (paid for by the losers, of course!).</p> <p>Are you an artist or visual person? Try mapping your progress by coloring in circles for each $50 or $100 you save. Whether it's goal tracking, paying off debt, or saving for a particular event, try coloring your way to reaching your goal. And when you've reached your goal you can hang the artwork in your home as a motivational reminder.</p> <h2>5. Join a Savings Challenge</h2> <p>Much like a diet helps you jumpstart your weight loss plan or workout regimen, a savings challenge can help you get your spending under control, and create a regular savings habit.</p> <p>There are lots of different challenges available. You can go on a 14-day spending diet, a 60-day&nbsp;<a href="http://www.carefulcents.com/cash-budget-challenge/">cash budget challenge</a>, a year-long shopping ban. Last year I participated in a 12-month money challenge from inspiration I found on Pinterest. But the options are basically limitless, so start out small and then increase the challenge as you become more comfortable with it.</p> <p>Experiment with different methods and test out strategies based on your money personality and saving style. Don't be afraid to try out new ideas to see how they work for you.</p> <p><em>How do you save money without a regular paycheck? Share your best tips!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-smith">Carrie Smith</a> of <a href="http://www.wisebread.com/5-ways-to-grow-your-savings-without-a-steady-paycheck">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-6"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/a-step-by-step-guide-to-creating-your-emergency-fund">A Step-by-Step Guide to Creating Your Emergency Fund</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/you-got-a-raise-now-what">You Got a Raise! Now What?</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/meet-meg-favreau-our-senior-editor">Meet Meg Favreau, Our Senior Editor</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-easy-to-fix-reasons-your-savings-account-isnt-growing">4 Easy-to-Fix Reasons Your Savings Account Isn&#039;t Growing</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-tips-for-easy-college-savings">5 Tips for Easy College Savings</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Personal Finance freelancing paychecks savings account savings plan self-employment Thu, 10 Sep 2015 15:00:27 +0000 Carrie Smith 1553947 at http://www.wisebread.com 6 Gadgets Every Work at Home Professional Needs http://www.wisebread.com/6-gadgets-every-work-at-home-professional-needs <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/6-gadgets-every-work-at-home-professional-needs" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/female_student_000056371408.jpg" alt="Woman using gadgets every work at home professional needs" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Desk jockeying from the comfort of your home? Make your home office way more awesome with these six gadgets. They can help increase your productivity, reduce boredom, and make <a href="http://www.wisebread.com/the-5-worst-work-from-home-jobs">working from home</a> much easier.</p> <h2>1. Multi Device Keyboard</h2> <p>Need to switch from iPad to laptop, and back again without fumbling for cables or constantly restarting the Bluetooth connection? This <a href="http://www.amazon.com/gp/product/B00MUTWLW4/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B00MUTWLW4&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=5CYHDAML4NWYGBQR">multi-device keyboard</a> makes it easy &mdash; as simple as turning a dial. It's wireless and completely mobile, making it easy to move around the house or pack on business trips.</p> <h2>2. Smart Light Bulb</h2> <p>I've been on spreadsheet grinds that go so long that when I look up, the sun's set and it's dark as a cave in my office. It's time to consider switching the home office lighting to the new <a href="http://www.amazon.com/gp/product/B00TJ4WMZE/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B00TJ4WMZE&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=PXVTF3FRNDVCHGYE">GE Wink</a>, which can be controlled by both your home dimmer and from anywhere with a smartphone app. Try one in your office and one in the living room, so you can brighten, dim, or turn off the light without having to leave the desk.</p> <h2>3. Bluetooth Headphones or Speaker</h2> <p>My Bluetooth speaker has been a lifechanger. When playing back a video for work, I can actually hear it without tethering myself to the computer with corded headphones. If you want a big sound for less, try the <a href="http://www.amazon.com/gp/product/B00D6OHHEE/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B00D6OHHEE&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=2VIIEZBOSHOE5DCW">Photive Bluetooth speaker</a>, which is by far the best value in the Bluetooth speaker market. It also holds a single charge for days.</p> <p>For those who like lush headphones, these <a href="http://www.amazon.com/gp/product/B00MR8Z28S/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B00MR8Z28S&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=IFTL42CB5APW6QWD">Jabra Bluetooth headphones</a> are awesome. They're comfortable, have well rounded sound, and work within a decent range. You can finally enjoy work tunes and grab something from the fridge at the same time!</p> <h2>4. USB Key</h2> <p>This really handy <a href="http://www.amazon.com/gp/product/B00A3U7IS4/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B00A3U7IS4&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=QMPCHVGQGAS6MOVJ">USB stick by LaCie</a> fits onto your key ring, but it's also shaped and sized like a key! This makes it lightweight and less bulky than your current USB drive. You'll also find it very hard to fill because it holds a sizable 32GB of drive space, making this the perfect goto on-the-go USB solution.</p> <h2>5. Desk Elliptical</h2> <p>Everyone knows it now: Sitting is a disease. But even if you work from home, you probably also need to work at a desk. There are options such as the standing desk, or the treadmill desk. But, If you want to remain sitting most of the time yet keep your blood flowing (perhaps even burning some extra calories), try this <a href="http://www.amazon.com/gp/product/B00SIBYETQ/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B00SIBYETQ&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=E2CQUHTE3LOAKWEC">under-desk elliptical</a>. It's compact, light, and easy to use. Plus, it's a great value compared to full-size home gym equipment.</p> <h2>6. Tylt Vu Charging Pad</h2> <p>This is really cool: An affordable and convenient <a href="http://www.amazon.com/gp/product/B00DG8NUC8/ref=as_li_tl?ie=UTF8&amp;camp=1789&amp;creative=390957&amp;creativeASIN=B00DG8NUC8&amp;linkCode=as2&amp;tag=wisbre03-20&amp;linkId=YY3JNJKHK5OP4BYB">home charging pad</a> that's good for any smartphone. No more misplacing cords, then scrounging for them in a hurry when your phone is at 3% battery. It's also small enough to keep on your desk and take along on business trips.</p> <p><em>What are some other gadgets you can't work from home without?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/amanda-meadows">Amanda Meadows</a> of <a href="http://www.wisebread.com/6-gadgets-every-work-at-home-professional-needs">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-7"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/5-ways-to-stay-productive-while-working-from-home">5 Ways to Stay Productive While Working From Home</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-life-skills-every-freelancer-needs">8 Life Skills Every Freelancer Needs</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/11-ways-freelancers-and-telecommuters-can-make-friends-and-network">11 Ways Freelancers and Telecommuters Can Make Friends and Network</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-5-biggest-mistakes-people-make-when-working-from-home">The 5 Biggest Mistakes People Make When Working From Home</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-convince-your-boss-to-let-you-work-from-home">How to Convince Your Boss to Let You Work from Home</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career Building Technology freelancing gadgets home office telecommute work work from home Mon, 29 Jun 2015 09:00:13 +0000 Amanda Meadows 1467957 at http://www.wisebread.com 5 Fun Money Boosts That Grow Your Savings http://www.wisebread.com/5-fun-money-boosts-that-grow-your-savings <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-fun-money-boosts-that-grow-your-savings" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/woman_shopping_scarf_000022078327.jpg" alt="Woman shopping and getting money boost to grow her savings" title="" class="imagecache imagecache-250w" width="250" height="140" /></a> </div> </div> </div> <p>Earning extra money is my go-to method for boosting any savings goal. Saving dough is one way to boost your nest egg, but earning extra cash can really put it into overdrive.</p> <p>My husband and I are <a href="http://www.carefulcents.com/achieve-your-goals/">planning to move across the country</a> during the summer, so we need extra money to put into our relocation fund. We're both self-employed, so this allows us to have a flexible work schedule and take on extra part-time work. Below are some unusual and fun ideas I'm personally using to build up extra funds. (See also: <a href="http://www.wisebread.com/cool-convenient-cash-11-easy-ways-to-make-money-online?ref=seealso">11 Easy Ways to Make Money Online</a>)</p> <h2>1. Get Paid for Your Skills</h2> <p>Depending on your skills, you can offer editing, designing, or writing work in exchange for pay. And the best part is, you can do it from the comfort of your own home and on your own time. You get to work with clients virtually and bring in money<em> right now</em>.</p> <p>Freelance writing sites such as <a href="https://www.upwork.com/">Upwork</a>&nbsp;and micro-jobs sites such as <a href="http://tracking.fiverr.com/aff_c?offer_id=1441&amp;aff_id=4437">Fiverr</a> enable you to turn your talents into a viable second income stream. Who knows? In time, you might even be able to make your passion into your full-time gig. (See also: <a href="http://www.wisebread.com/8-freelance-gigs-anyone-can-do-to-make-extra-money?ref=seealso">8 Freelance Gigs Anyone Can Do</a>)</p> <h2>2. Work as a Brand Ambassador</h2> <p>If you enjoy local events and interacting with people, then becoming a brand ambassador a few times a month could be right up your alley. What is a brand ambassador?</p> <p>You know the people that give out free samples at the grocery store or local festivals? They are getting paid to represent a specific brand and give out coupons and freebies &mdash; and it can be a fun job for extroverts.</p> <p>If you have experience in a certain field, you can reach out to specific companies directly. My husband did this, and since he's a chef, he's worked as a brand ambassador for Organic Valley promoting several of their dairy products. Recently he spent four days giving out free samples and coupons, and was compensated well for his time.</p> <h2>3. Flip Thrift Store and Yard Sale Finds</h2> <p>This method probably won't make you as much money as it used to, but it's still a viable way to make extra cash. In the past I've made an average of $1,000 per month flipping thrift store finds for a profit on sites like eBay or Craigslist.</p> <p>You'll have to spend some time digging through the &quot;trash&quot; to find the treasure, but if you look for specific items (like brand-name clothing or electronics), and do your research, you can still make good money on the weekends.</p> <p>Plus, it's a fun activity to do with your spouse, or a frugal friend. With a creative eye, you can spot good-as-new pieces or shine up some dusty items and sell them for extra money.</p> <h2>4. Rent Out Your Assets for Cash</h2> <p>One of the smartest ways to bring in extra cash, without doing any additional work, is to leverage what you already have. Can you rent out a spare bedroom, or an extra couch in your house, on a site like <a href="https://www.airbnb.com/">Airbnb</a>? (See also: <a href="http://www.wisebread.com/this-is-how-you-rent-your-place-on-airbnb-and-succeed?ref=seealso">This Is How You Rent Your Place on Airbnb</a>)</p> <p>Do you have a coveted parking space in the city? You can use this to make extra money by renting out your parking spot while you're at work during the day. You can even rent out your car if it's not being used often. There are lots of new apps and startups that allow you to use the assets you have to bring in extra cash.</p> <h2>5. Make It a Competition</h2> <p>It's always fun to have a healthy dose of competition among your spouse and kids. This principle also applies when you're saving towards any type of financial goal. If you get the whole family involved, not only is it more fun, but it teaches everyone that <em>hard work equals results.</em></p> <p>When my husband and I create a new goal and begin working towards it, we each choose one type of money-making idea to focus on for 30 days. Our focused attitude makes it less overwhelming, and turns the whole idea into a friendly competition.</p> <p>Whoever brings in the most money at the end of the month gets a bonus from the other (like a shoulder massage, cleaning the house, or cooking dinner).</p> <p><em>What's another fun way you can boost your savings goal by earning extra cash?</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/carrie-smith">Carrie Smith</a> of <a href="http://www.wisebread.com/5-fun-money-boosts-that-grow-your-savings">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-2"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-surprising-ways-to-earn-money-online">7 Surprising Ways to Earn Money Online</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/7-smart-money-challenges-you-can-totally-do">7 Smart Money Challenges You Can Totally Do</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/clear-out-that-clutter-15-places-to-sell-your-stuff">Clear Out That Clutter: 15 Places to Sell Your Stuff</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-ways-to-make-money-outside-your-day-job">15 Ways to Make Money Outside Your Day Job</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-a-side-hustle-can-advance-your-career">8 Ways a Side Hustle Can Advance Your Career</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Extra Income brand ambassadors freelancing renting saving money thrift stores yard sales Wed, 15 Apr 2015 09:00:25 +0000 Carrie Smith 1382369 at http://www.wisebread.com 5 New Income Streams Anyone Can Create http://www.wisebread.com/5-new-income-streams-anyone-can-create <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/5-new-income-streams-anyone-can-create" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/cash-5188537-small_0.jpg" alt="cash" title="cash" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>If money were water, your income would be the fresh mountain spring&hellip; the source of your spending power. This income &quot;stream&quot; could be your answer to financial independence. So, how do we tap into this spring?</p> <p>Here is a list of potential new income streams anyone can create (or find).</p> <h2>1. Bank Your Annual Raise</h2> <p><strong>Potential Yearly Income: $1,500</strong></p> <p>It's amazing how quickly new income gets burned through when people get raises. In 2014, the average raise is expected to be 3% in the United States. When they get raises, many people seem to forget that they were getting by with their prior salary, and before too long, they are just getting by with the new one. It's not mandatory that your expenses increase in step with your salary. All you have to do is take that additional 3% raise and sock it away in a savings account.</p> <p>If you make $50,000 and get a 3% raise, you will earn an additional $1,500 the following year. To avoid taxes, you could simply increase your 401(k) contribution by that amount. Otherwise, that $1,500 may look more like $1,125 after federal taxes&hellip; and more like $1,000 after state, Social Security, and Medicare taxes hit. But, that's still a nice lump sum. And, it may even go up again the following year! Set up an automatic transfer from your checking account to a savings account as soon as the raise hits, and you'll never feel a thing.</p> <h2>2. 401(k) Match</h2> <p><strong>Potential Yearly Income: $1,500</strong></p> <p>Many companies offer a retirement plan at work. Typically, this comes in the form of a 401(k) plan. If the employee elects to contribute to such a plan, a certain percentage of pay is taken out pre-tax from each paycheck and invested in his or her 401(k) account. Often, the company may sweeten the deal by offering a match. Herein lays your first new income stream.</p> <p>For example, the match may be $0.50 for every dollar you invest up to a maximum of 6% of your salary. Assuming you earn $50,000 per year and choose to invest 6% of your salary into your 401(k), you will have contributed $3,000 by the end of the year. And, you also get your match of $0.50 on the dollar, which means your company contributes an additional $1,500 per year!</p> <h2>3. Credit Card Points</h2> <p><strong>Potential Yearly Income: $500</strong></p> <p>We all spend money, right? So, let's get paid to spend it! Many credit cards offer points for making purchases on your credit card. Often, you'll receive points based on a percentage of the money you spend. I see another potential income stream here.</p> <p>Let's say you spend $25,000 every year and you <a href="http://www.wisebread.com/topic/personal-finance/credit-cards">find a credit card</a> that provides you with points equaling 2% of all expenses paid on the card. To be realistic, not all expenses can be paid for on a credit card. However, if you take advantage of all opportunities (and pay off your credit card each month), you can certainly create a nice little income each year.</p> <p>Just 2% of $25,000 is still $500 additional income to you.</p> <h2>4. Consulting or Freelancing</h2> <p><strong>Potential Yearly Income: $1,000 (and up!)</strong></p> <p>Now take a look at the skills that you possess. What do you love doing that you can teach others in your free time? Are you a great musician, tech geek, writer, marketing genius, artist? In the age of the Internet, it seems everyone is creating some sort of service based business.</p> <p>Let's consider one simple idea. Do you have a knack for growing your social media followers? Turn that into a business. Something that comes naturally to you might seem impossible for others. You could charge $0.50 for every new Facebook &quot;like&quot; you obtain for a non-tech savvy small business owner. The business gets 200 new followers, and you pocket $100! Plus, if it's easy for you, it won't even feel like work. Do that for 10 people, and you'll pull in $1,000.</p> <p>The possibilities here are nearly limitless, but here are some ideas to get you started:</p> <ul> <li><a href="http://www.wisebread.com/8-freelance-gigs-anyone-can-do-to-make-extra-money">8 Great Freelance Gigs</a></li> <li><a href="http://www.wisebread.com/12-side-jobs-for-stay-at-home-moms-and-dads">Side Jobs for Stay-at-Home Parents</a></li> <li><a href="http://www.wisebread.com/30-great-side-jobs">30 Great Side Jobs</a></li> <li><a href="http://www.wisebread.com/9-ways-to-earn-extra-cash-when-money-is-tight">9 Ways to Earn Extra Cash </a></li> </ul> <h2>5. Craigslist/eBay Sales</h2> <p><strong>Potential Yearly Income: $1,200</strong></p> <p>Everyone has junk in their home that they just don't need anymore. And, as the saying goes, your junk could be another person's treasure. The problem is that no one wants to spend time sorting through things and taking pictures for the Internet. Well, suck it up and create another income stream for yourself!</p> <p>Just think&nbsp;<span style="font-size: 13px;">&mdash;</span><span style="font-size: 13px; line-height: 1.7em;">&nbsp;Craigslist is loaded with old books, clothes, toys, video games, furniture... and whatever else you can find in your attic or basement. You could easily sell a coach ($200), TV ($100), a few cell phones ($50), several books ($50), a nice piece of wooden furniture ($300), and a box of video games ($150); and you'll be well on your way. Throw in some power tools ($250) and a canoe ($100), and you'll have a handful of cold hard cash!</span></p> <h2>6. Fitness Benefit Reimbursement</h2> <p><strong>Potential Yearly Income: $150</strong></p> <p>We all love to talk about how expensive our health insurance is, but it's something we are required to pay. So let's take advantage of the fitness benefit offered by most insurance companies. All you need to do is spend money on a gym membership (which you probably already do)!</p> <p>Many insurance companies refund a portion of the cost of a gym membership. For example, my health plan gives me $150 every year just for showing them that I spent at least that much to pay for my gym membership. I'm going to the gym anyway, so why not get paid to do it?</p> <p>So let's stop here and total up our five recently uncovered revenue streams. Yup, that's $5,850! Now multiply that by five years, and you've just generated almost $30,000 &mdash; not including interest earned or investment returns. Just think of what you could do with this additional cash flow over your lifetime!</p> <p><em>How else have you generated income for yourself? Do you have any tips to share with us? </em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/eric-roberge-cfp">Eric Roberge CFP</a> of <a href="http://www.wisebread.com/5-new-income-streams-anyone-can-create">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-8"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/15-ways-to-make-money-outside-your-day-job">15 Ways to Make Money Outside Your Day Job</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-a-side-hustle-can-advance-your-career">8 Ways a Side Hustle Can Advance Your Career</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/6-side-jobs-for-people-who-are-good-with-money">6 Side Jobs for People Who Are Good With Money</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/10-great-side-jobs-for-extroverts">10 Great Side Jobs for Extroverts</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-to-turn-your-stress-into-money">8 Ways to Turn Your Stress Into Money</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Extra Income extra income freelancing side jobs Wed, 14 May 2014 08:00:18 +0000 Eric Roberge CFP 1139228 at http://www.wisebread.com 16 Time and Money Saving Apps for Freelancers http://www.wisebread.com/16-time-and-money-saving-apps-for-freelancers <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/16-time-and-money-saving-apps-for-freelancers" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/tablet-158908829.jpg" alt="tablet" title="tablet" class="imagecache imagecache-250w" width="250" height="141" /></a> </div> </div> </div> <p>It is becoming increasingly easier and more popular for people to leave their 9-to-5 jobs and take on a freelancing career. Whether you are a writer, an editor, a social media manager, or a photographer, there are online and mobile apps that you can use to be more productive, make more money, and work more efficiently. (See also: <a href="http://www.wisebread.com/freelancing-a-beginner-s-guide-to-doing-it-right?ref=seealso">Guide to Freelancing</a>)</p> <h2>Apps for Task Management</h2> <p>The ability to juggle multiple tasks and clients at one time is a freelancer's lifeline. These apps will help you do that for the short-term, the long run, and when you are on-the-go.</p> <h3>1. Dropbox</h3> <p><a href="https://www.dropbox.com/">Dropbox</a> provides the user with the ability to save their files in the cloud, so files can be accessed anywhere there's an Internet connection. Whether you are at a client meeting, in your home office, or on the go, you can access all your client files easily with the mobile app or online product.</p> <h3>2. NowDoThis</h3> <p><a href="http://www.nowdothis.com">NowDoThis</a> takes your to-do list and places it on your web browser. If you struggle with focusing on one task at a time, check out this simple interface. Just type in your list of things to do for the day, create your list, and click &quot;Done&quot; each time you finish a task. (See also: <a href="http://www.wisebread.com/the-10-best-productivity-apps-for-really-busy-people-like-you?ref=seealso">10 Best Productivity Apps</a>)</p> <h3>3. TeuxDeux</h3> <p><a href="https://teuxdeux.com/">TeuxDeux</a> (pronounced &quot;to do&quot;) helps you manage your list of things to do on a grand scale. Prioritize each activity that you need to do each day of the week. There's a mobile app available for on-the-go productivity and any tasks not finished one day will be automatically transferred to the next day. TeuxDeux also gives you the ability to organize lists for things like grocery trips, packing, and children's chores.</p> <h3>4. Google Calendar</h3> <p>The <a href="https://www.google.com/calendar">Google Calendar</a> app works great on the web, your phone, or your tablet. It is available in virtually all platforms and is perfect for managing multiple deadlines, clients, and jobs. Create a different calendar for each client and assign each a different color so you are able to see at a quick glance which one has an approaching deadline. Use Google Calendar as a to-do list, for scheduling client meetings, conference calls, and much more.</p> <h2>Time Management</h2> <p>If you bill by the hour, it is important that you are able to keep track of your time. These apps will help you do just that. (See also: <a href="http://www.wisebread.com/can-you-have-it-all-4-tips-for-doing-more-with-your-time?ref=seealso">4 Tips for Doing More With Your Time</a>)</p> <h3>5. Cluckodo</h3> <p>Manage your time-on-task easily with <a href="http://www.clockodo.com/en">Cluckdoo</a>. This tool has both a web-based and a smartphone app for when you are working away from your computer. Cluckdoo will track your time and categorize it by client. It can be used with employees if you need to and will provide you a report to see which clients are requiring more of your time. It will also generate timesheets so your clients can see which part of the job required the most time and money.</p> <h3>6. OfficeTime</h3> <p><a href="http://www.officetime.net/">OfficeTime</a> is easy-to-use, available for the iPad or iPhone, and comes with a 100% money back guarantee. It offers easy access for when you change client jobs and the ability to recognize when you have stepped away from the job. OfficeTime will pause your time when need be and pick it back up when you have returned to work. It also provides reports to share with clients that export to Excel as well as the ability to invoice directly from the app.</p> <h2>Invoicing</h2> <p>Easy-to-use invoicing is an essential tool for the freelancer, especially those just starting out. These invoicing apps will help you look and feel professional while providing a user-friendly experience.</p> <h3>7. PayPal</h3> <p>If you are receiving client payments through <a href="http://paypal.com">PayPal</a>, why not invoice them with it? It provides your client a quick and easy way to pay you. PayPal allows you to import a logo so your invoice looks professional. You can keep track of which client has been invoiced and how much they have paid you quarterly and yearly. PayPal invoicing allows you to create a report that helps out at tax time as well.</p> <h3>8. Dwolla</h3> <p><a href="https://www.dwolla.com/">Dwolla</a> offers similar features as PayPal with much smaller fees. You can receive funds for only 25 cents per transaction with Dwolla. It has an online and mobile app to make sending and receiving money easier when you are away from home.</p> <h3>9. Freshbooks</h3> <p><a href="http://www.freshbooks.com/">Freshbooks</a> offers an easy-to-use, intuitive accounting product that will allow you to track time for client work, invoice them, and create reports to determine which products are cost-effective. You can also keep track of expenses within the app. It has mobile apps for most operating systems, automatic updating to the cloud, and fabulous customer support. Bonus? If you process your PayPal payments through Freshbooks, you can sign up for PayPal Business, which caps PayPal fees at 50 cents per transaction. (See also: <a href="http://www.wisebread.com/the-5-best-credit-cards-for-small-businesses?ref=seealso">Best Credit Cards for Small Businesses</a>)</p> <h2>More Apps to Check Out</h2> <p>There are many great apps out there that can make the life of a freelancer easier, more productive, and calmer.</p> <h3>10. BunkerApp</h3> <p><a href="http://www.bunkerapp.com/tour">BunkerApp</a> is an all-in-one time management, invoicing, and expense-tracking tool, with various pricing plans for your needs. A unique inclusion is a simple tool for creating RFP's and pitching projects to potential clients.</p> <h3>11. PayMo</h3> <p><a href="http://www.paymo.biz/">PayMo</a> is probably best used as a time-tracking tool, with an assortment of ways to use it, including a cloud-based interface and browser add-ons that make working from any device a painless process.</p> <h3>12. CurdBee</h3> <p><a href="http://curdbee.com/">CurdBee</a> is a budget-friendly invoicing and expensing tool, with a free-for-life plan for its basic features (which include customized invoices with your own logo!)</p> <h3>13. Evernote</h3> <p><a href="https://itunes.apple.com/us/app/evernote/id281796108?mt=8">Evernote</a> is a high-tech replacement for all of those sticky notes and napkin doodles. Collect the bits and pieces of your next project in an easy-to-retrieve organizational tool you can use virtually from anywhere.</p> <h3>14. ShoeBoxed</h3> <p><a href="https://www.shoeboxed.com/">ShoeBoxed</a> gives you a hassle-free way to scan and store documents with their prepaid mailing envelopes. Send your paper clutter off to be saved to the cloud and never lose a receipt or article again.</p> <h3>15. SignEasy</h3> <p><a href="http://getsigneasy.com/">SignEasy</a> takes the convenience of electronic document signing and delivers it to your mobile device. Just &quot;sign&quot; your important paperwork with your touchscreen and say goodbye to the old &quot;scan and email&quot; method.</p> <h3>16. Harvest</h3> <p><a href="http://www.getharvest.com/">Harvest</a> wins the award for &quot;plays well with others&quot; giving you a time management and tracking tool that can share info with 80+ other popular apps, including Basecamp, Fresh Desk, Salesforce, and more!</p> <p><em>What are your favorite freelancer apps? Please share in comments!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/linsey-knerl">Linsey Knerl</a> of <a href="http://www.wisebread.com/16-time-and-money-saving-apps-for-freelancers">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. Read more great articles from Wise Bread:</div><div class="view view-similarterms view-id-similarterms view-display-id-block_2 view-dom-id-9"> <div class="view-content"> <div class="item-list"> <ul> <li class="views-row views-row-1 views-row-odd views-row-first"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/the-7-best-free-tools-to-improve-your-work-performance">The 7 Best Free Tools to Improve Your Work Performance</a></span> </div> </li> <li class="views-row views-row-2 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/this-simple-negotiating-trick-puts-money-in-your-pocket">This Simple Negotiating Trick Puts Money in Your Pocket</a></span> </div> </li> <li class="views-row views-row-3 views-row-odd"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/how-to-find-freelance-clients-part-one">How to Find Freelance Clients - Part One</a></span> </div> </li> <li class="views-row views-row-4 views-row-even"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/4-big-business-accounting-tools-every-side-gig-needs">4 Big Business Accounting Tools Every Side Gig Needs</a></span> </div> </li> <li class="views-row views-row-5 views-row-odd views-row-last"> <div class="views-field-title"> <span class="field-content"><a href="http://www.wisebread.com/8-ways-a-side-hustle-can-advance-your-career">8 Ways a Side Hustle Can Advance Your Career</a></span> </div> </li> </ul> </div> </div> </div> </div><br/></br> Career Building apps business tools freelancing productivity Fri, 28 Feb 2014 10:36:34 +0000 Linsey Knerl 1125966 at http://www.wisebread.com How to Get Work Experience Without Having a Job http://www.wisebread.com/how-to-get-work-experience-without-having-a-job <div class="field field-type-filefield field-field-blog-image"> <div class="field-items"> <div class="field-item odd"> <a href="/how-to-get-work-experience-without-having-a-job" class="imagecache imagecache-250w imagecache-linked imagecache-250w_linked"><img src="http://wisebread.killeracesmedia.netdna-cdn.com/files/fruganomics/imagecache/250w/blog-images/desk-5322554-small.jpg" alt="woman at desk" title="woman at desk" class="imagecache imagecache-250w" width="250" height="167" /></a> </div> </div> </div> <p>&quot;Need experience to get a job; need a job to get experience&quot; is one of the most frustrating paradoxes faced by those who are still in school or in the midst of a career change. Although unemployment numbers are slowly falling, the race to land an entry-level job is not only hyper-competitive, but also somewhat deceptive, since some employers require a couple years of experience before applicants qualify for even an entry-level position. (See also: <a href="http://www.wisebread.com/awesome-accomplishments-50-questions-to-ask-yourself-and-figure-out-what-youve-done">Awesome Accomplishments: 50+ Questions to Ask Yourself and Figure Out What You've Done</a>)</p> <p>If you're currently searching for a job but don't have extensive work experience to back you up, boost your resume and make valuable contacts in the industry you want to work in by exploring some alternatives.</p> <h2>Internships</h2> <p>One of the most popular ways of getting your foot in the door is by completing an internship. Depending on the industry, these may be paid or unpaid, part time or full time, short term or for several months, and for college credit or just for another bullet point for your resume.</p> <p><a href="http://www.internships.com/">Internships.com</a> and <a href="http://www.internmatch.com/">InternMatch</a> are great resources for finding internships in your area (remote/virtual internships are also available). If you go above and beyond what is expected of you during your internship, your boss might write a letter of recommendation, which will help you stand out from the crowd when you apply for your next job. Or better yet, your internship could potentially lead to a full time, paid position with the company.</p> <h2>Volunteer</h2> <p>If you want to make a difference in your community and gain valuable experience while you're at it, consider becoming a volunteer. Like many internships, this isn't paid work, but compared to the regular job market, volunteer positions are much more readily available. Although there are certainly differences between regular jobs and volunteer positions, you could perform similar tasks at a nonprofit as you would in a normal work environment (office work, teaching, researching, event planning, etc.). At the very least, you'll likely improve your communication skills and make connections that can serve as references later on when you're job hunting. (See also: <a href="http://www.wisebread.com/translating-volunteer-experiences-and-skills-to-workplace-credentials">Translating Volunteer Experiences to Workplace Credentials</a>)</p> <h2>Take Specialized Classes</h2> <p>Being a college student or graduate is almost mandatory for decent-paying jobs these days, but employers want more than employees who learned everything in a classroom. Consider taking some hands-on classes that relate to the industry you want to work in. This can be anything from wood or metal shop to culinary classes. Many community colleges offer trade-specific classes, and some high schools have a <a href="http://rop-smcoe-rop-ca.schoolloop.com/file/1315636664350/1316353355363/2008991174234172131.pdf">Regional Occupational Program</a> (ROP) for their students. ROP offers hands-on courses to prepare students for careers in industries such as health care, engineering, manufacturing, tourism &amp; hospitality, and more.</p> <h2>Start Up Your Own Startup</h2> <p>Entrepreneurship isn't for everyone, but if you're really determined to get your foot in the door, you could run your own side business until you amass the experience needed for your dream job. This is probably the most complex way of getting experience, but you may find that working for yourself is more rewarding after all. Either way, entrepreneurship will help you add valuable experience to your resume, as well as show you both the employer and employee's perspectives in your industry. (See also: <a href="http://www.wisebread.com/6-reasons-your-great-startup-business-is-doomed">6 Reasons Your Great Startup Business Is Doomed</a>)</p> <h2>Freelance</h2> <p>If running a business isn't your cup of tea, and you offer services rather than products, consider getting into freelancing.</p> <p><a href="https://www.upwork.com/">Upwork</a> is a popular website for new freelancers, although there's one thing you should know about bidding sites &mdash; it's a race to the bottom. You'll be competing with other freelancers, many of whom are willing to charge minimal prices just to get work. An alternative to this is building a portfolio in which you have several pieces of your work available for potential employers to peruse prior to hiring you. As an independent contractor, you could also offer your services for free for a couple clients when you're just starting out (in exchange for portfolio samples and references). (See also: <a href="http://www.wisebread.com/new-year-new-resume">New Year, New Resume</a>)</p> <h2>Final Word</h2> <p>Landing a new job &mdash; even in a struggling economic climate &mdash; isn't impossible. It's admittedly harder for those who don't have firsthand experience required by many employers, but as you can see from the points above, there are ways around this problem.</p> <p><em>How have you gotten experience without first having a job? Tell us your job search story in the comment section below!</em></p> <br /><div id="custom_wisebread_footer"><div id="rss_tagline">This article is from <a href="http://www.wisebread.com/kelly-kehoe">Kelly Kehoe</a> of <a href="http://www.wisebread.com/how-to-get-work-experience-without-having-a-job">Wise Bread</a>, an award-winning personal finance and <a href="http://www.wisebread.com/credit-cards">credit card comparison</a> website. 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