Review Category : Make Extra Money

5 Ways You Are Wasting Money Without Even Realizing It

The truth is that more people are struggling with cash flow issues in their finances than they do with their investment assets.  The challenge is that we often blow our money in places where we don’t even realize it is going out the back door.  $20 here…$100 there…it can seem at times that we are nothing more than our own ATM machine.    It’s hard to define the difference between spending money and wasting money, but making quality decisions as the CEO of your family finances is paramount to having a successful personal financial picture.  Here are five ways I see that people waste money. Buying Too Large A House – We can convince ourselves that buying a large home is a great idea because we expect long term growth of the value of our home. Remember that primary residence should never be considered an investment, but rather your home.  The place you will raise your family or use a source ...

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Make Money By Renting Your Car Out?

One of the planning items that most people have when they go on vacation is whether or not to rent a car.  With the evolution of services such as Uber and Lyft, some people are skipping the rent a car altogether and trying to manage the cost of having a car service take you around the city you are traveling through for vacation. However, we love showing people how to make money and one of the up and coming ideas is to rent your car out to others while it is just sitting there in the driveway.   Some people leave the country for an extended period of time and won’t be using their car and others have a weekend car that does nothing but sit and collect dust during the week.   Being smart about making money is getting your assets to work for you instead of you working for your money. The first service you need to learn about is ...

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Do You Need An LLC For Your Rental Property?

With interest rates continuing to hover around record low rates, Gen X’ers and Baby Boomers are swallowing up investment properties all around the United States.  Even though last week an article came out from the N.Y. Times that home ownership is down to a record low of 62.9% (which is the lowest in fifty years), the developments being built around your neighborhoods seem to continue to sell at a record rate. One of the main questions we get all the time from people who buy investment real estate or rental properties centers around whether to hold the property individually, hold it in an LLC, and whether or not you need a separate company if you plan to manage these properties on your own. Let’s go through an example of why you might want to have an LLC.  You have a tenant who has rented your property up on the lake this summer.   They decide to bring a few friends out ...

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10 Weird Ways To Make Money From Home

You are several months into 2016 and might be thinking to yourself, “How can I make a few extra bucks in my spare time at home?”.  This may be to pay off some debt, save some more money towards your goals, or even set up a rainy day fund.   Here are ten weird ways to make money from home.  We got a few of these from our friends over at www.pennyhoarder.com. Give Your Opinion to Make $100+/Month (or Watch Videos) Most of you know surveys aren’t our favorite way to make extra money, but we make an exception when we’re just vegging out on the couch. We figure as long as we’re just watching TV, there’s no reason we can’t click a few buttons at the same time. Ipsos Panel (www.i-say.com) (www.inboxdollars.com)  is one of the only legitimate paid survey companies out there (they’re rated an A+ with the Better Business Bureau). You might recognize the name from the news, because they conduct a lot of the presidential polling. I’ve ...

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Tryin To Make A Dollar Out of 15 Cents

No, this is not a post on the famous rap song, nor am I recommending that you follow any of the lyrics from the Tupac or Master P songs.   However, I am often asked the question: “How can I get more out of my paycheck?”  There are plenty of things you can do to stretch those dollars in your pocket. A few years ago there was a Wall Street Journal survey1 that asked “If you were to face a $2,000 unexpected expense in the next month, how would you get the funds you need?”  Only 24.9% of respondents reported being certainly able to come up with $2,000 in 30 days for an unanticipated repair or expense.  It begs the question you should ask if you have the emergency reserves for these expenses. Here are a few things you can do to prepare for that unexpected expense: Know the difference between wants and needs Pay off credit cards (you probably do ...

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How To Save $1,000 Fast

How many times have you told yourself, “If I just had an extra thousand dollars in my pocket I would . . . .” in your life?   There are many things that we would like to purchase month to month or year to year if only that little bit of extra cash was in our pockets.  I discuss a lot of different techniques to make money or save money in the your smart money moves blog, but now let’s talk about a few ways to get cash quick in your pocket.   If you need $1,000 bucks for something you want to buy, a vacation you want to take, or to make an investment that needs to be done now, here are eight ways to save $1,000 fast. Sell Your Stuff– Whether you do this through a garage sale, you take it on Craigslist, odds are that you have items in your house that you just don’t want or need anymore.  ...

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What Does Steph Curry’s Mouthguard Teach Us About Investing?

It’s playoff basketball time and this past week we saw all kinds of buzzer beaters from Derrick Rose and Paul Pierce in some really exciting games. The NBA loves statistics, and I love looking at those statistics and thinking about what it may mean when it comes to your money. So, how the heck does the mouthguard that newly crowned MVP Stephen Curry wears and investing wind up in the same category? This is where the ‘your smart money moves’ column takes everyday life and turns it into valuable money making lessons. The Wall Street Journal (source wsj.com) did a recent study looking at all of Steph Curry’s 337 free throws taking during the course of the NBA Season. With the Mouthguard out, Curry shot 198 for 214 from the free throw line which is a 92.5% shooting percentage. With the Mouthguard in, Curry shot 110 for 123 which is an 89.4% shooting percentage. The real difference between these two ...

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How To Negotiate Your Next $10,000 Pay Raise

You just finished up your taxes and realized that you either owe money or the refund you received just wasn’t enough to complete the remodel you had in mind this year. You hoped your income would go up here in 2015, but once again you were saddled with a cost of living adjustment and hoping the company will promote you sometime in the future. Are you serious about getting that $10,000 pay raise this year? Pay raises don’t happen by accident. They don’t happen to people who wait for them to happen. They come to those who prepare on the right way to get the $10,000 pay raise. Here are my five tips on how to make this happen for your future. Where Does Your Salary Compare In The Industry?–  I’m surprised by the number of people who never take the time to go to www.salary.com, www.glassdoor.com,or www.payscale.com to see exactly where their current salary compares to the same type of individuals in ...

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How To Make A 100 Bucks Quick

Are you experiencing a bit of a credit card hangover from a little too much shopping and dining out over the holidays.  If you have fallen behind by $1,000 or more on your credit cards, it can seem to be a daunting task to crawl out of this New Year’s financial hole.  So, I thought I would give you 10 of my ideas on how to make some quick money here in the first quarter of 2015 to pay off that debt! Loan your stuff – Yes, loan out your stuff to other people and I’m not talking about doing a creepy Craigslist.   There are two websites called www.loanables.com and www.neighborgoods.net that you can rent out your stuff to your neighbors such as your lawn mower or kayak and make a little dough. Have a garage sale – Garage sales can average between $100 bucks and $500 bucks depending on how much stuff you clean out of your closets.  I recommend ...

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Your Earnings Power Is All About Supply And Demand

Really? Doesn’t my formal college education matter?  Or whether or not I have an MBA?   Could the simple economic principle of supply and demand really dictate how income is earned in America?   Let’s take a look inside at what you desperately need to know if you want to earn more money in your career. I’ve been practicing financial advising for over 23 years and the people who truly build up extremely high level of incomes typically fall into three categories: Business Owners Sales People who rise in companies for staying in the same place more than 10 years What does this have to do with earning income? Well, there are certain skills in business that are trainable and certain skills in business that are learnable.  Gaining a keen understanding about which ones can make you money and why will dictate whether you too are successful in making lots of money. THOSE EARNING UNDER $100,000 The lowest general form of earners ...

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