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Money

3 Ways to Make Extra Money without Sweating

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Make more money

You can earn extra income from the comfort of your home by choosing any of the three simplest ways we have listed in this article. You need to have some special skills, extra time after /before your main profession, and the willingness to meet the client deadlines on every assignment.

Freelance Writing

Freelance content writing is the first option we suggest. It is the simple and streamlined process of earning decent extra money. You have to be a voracious reader. It is the first qualification and investment for effective writing. You may choose a specific domain for writing or be versatile.

Reading: Choosing a specific domain gives you deep exposure to the various aspects of the concepts, writing styles, the flow of writing and other related ideas. You can specialize in your chosen domain and become a master within a short time.

You will be able to grasp the client requirements from multiple aspects. Reading improves your vocabulary, which is the biggest asset of a writer. It improves your research and analysis skills. You can understand the core concepts within a span of one-time reading. Improvement in grammar and linguistic skills is the other benefit you get.

Writing: You need to start practicing writing every day. Write anything related to your chosen domain. In the beginning, it may be a slow process. But you can pick up speed and accuracy with patience and persistence. It will also improve your typing skills and speed. You can type faster with only a few spelling and grammatical errors.

Editing: Proof-read your documents and test them using grammar checking tools. You should also have a premium COPYSCAPE tool for checking plagiarism. You can complete the articles according to client specifications and mail to your client.

Freelance Photography

Being a freelance photographer for weddings, kid photography, birthdays, and festivals is a simple and earning job. You can also get recognition and respect from your community members. You can devote your free time during weekdays and weekends for your photography profession.

Camera: Choose a high-end professional camera with complete digital controls. You may also need a few accessories for lighting, background setting, and other special effect creation. You can pack all your equipment in a kit-bag and carry them wherever you go.

Training: You can take up six months of photography training from a professional school in your region. Then you can start your professional practice from home.

Experience: In the initial stages you may have to work on competitive pricing. Focus on delivering the best quality photographs with special effects as desired by your clients. Once you get established in your profession, it is easy to get high paying clients on demand.

Freelance Interior Design

Interior design for homes and offices is a talent dependent job. You can also manage architectural aspects to a considerable extent. It is a high earning profession.

Innovation: You can become an innovative designer with detailed research and analysis. Devote the first six months of your time only for studying and training.

Experience: You can start with small projects for homes and startup business organizations. Once you get a foothold over the concepts and implementation, it is easy to get high-paying clients consistently.

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Money

How to Spend More and Save Extra

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Spend more save more

The title may look like two contrasting ideas that are exactly opposite to each other. But your life is much more than a mathematical equation. You can open up possibilities which may not be visible to your open eyes. So, you need to close your eyes and think. Focus on how you can achieve the twin goals without having to become a millionaire overnight. Here we suggest a few guidelines which may help you to achieve a seemingly impossible goal in simple steps.

Step-1 Increase Your Income

Avenues: Opportunities to earn more are available online in your hometown. For example, stay at home jobs in Texas can bring you plenty of links on the search engine result pages. You can write product reviews, blogs, social media content, copywriting, advertising content, and so many other types of content.

You may also plan for creative designs, graphics, engineering drawings, art and architecture works etc. Nearly all of them are high paying. You may need to spend only a few hours of your free time after your office hours. 

Client Selection: You have to select the clients who pay you regularly and on time. Search for reputed companies whose hourly pay rates are higher and stable. You should have a set of design and content templates for sending as initial samples.

Domain Selection: Choose a domain which makes you happy while working. Taking up boring and complex projects can kill your motivation and complicate relations with the clients. You should have special skills and motivation to work consistently.

Step-2 Start Spending

How to Spend:  Once your finances have reached a stable state, you can start spending. But you have to make sure every dollar you spend should earn you $ 1.5 in return. What sort of spending are we talking about here?

Spend on buying a higher capacity computer for your design and content work. Spend on buying a digital printer for printing photographs you shoot.

Spend on buying a scanner to scan old engineering drawings from paper. You can edit those using CAD tools and provide better service for your clients. You can also spend to get training on the latest technologies and tools for your part-time /freelance job.

When to Stop: Once you reach the threshold of your business needs, stop spending and start working. You can experience a surge in your earnings within the short span of time.

Step-3 Start Saving

Now, it is time to start saving. Your office work and the extra job may take most of the time during weekdays. It may also take your weekends. Don’t worry. You can start saving in your bank account. Make intelligent investments in stable stocks like logistics, treasury bonds, pension plans, and others. Your consultant can help you to choose the right plan at the right time.

Step-4 Start Spending

Now, it is time to start spending again. You can think of taking a break and visiting Hawaii for a holiday. You can take a spiritual trip to Tibet. Or you can holiday on the Bahamas with your family. Get inspired and return to work. Start from step-1 and grow rich.

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Finance

Best Exercises for Financial Flexibility

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Earn more

Financial flexibility is a state in which you can afford to spend a few more dollars for your favorite cuisine in a restaurant. You can afford to buy a more comfortable home with heating and cooling systems. You can afford to treat your parents in a specialty hospital. You can afford to send your children to international schools. You can afford to spend two more days of holiday in Hawaii and the Bahamas. Well, you can increase the list to infinity. But how you do it? Here are a few simple tips.

Prioritize Spending

Essential Spending: You need to give top priority for the essential spending to your household items, grocery, utility bills, tuition fee, etc.

Other Priority: Would you prefer to spend more on an annual holiday or having an expensive sofa in your living room? Would you spend more on buying a home or have an extended holiday in Taiwan? We are talking about prioritizing the spending. When you spend on your mortgage loan, it is possible to save on rent and reduce the risk of having to change rental homes frequently. It is also an investment as the future asset.

Asset Accumulation: Accumulate assets for you and your family. Spending on buying moveable and immovable assets is an investment. You may buy appliances, equipment, and tools, car, gold, bonds, shares, and stocks, etc.

Leisurely Spending: You can take a well deserved holiday during Christmas and New Year. You don’t need to spend a fortune. But you can surely make it memorable for you and your family. Plan your holiday so it can refresh your mind and energize your body.

Increase Earning

Language Skills: There are plenty of opportunities to earn extra in the present digital era. You can take up a franchise of an established online language school. If you are well versed in foreign languages, it is the best opportunity to earn. Online translations, interpretations, and transliteration are some of the works in demand today. You may also create English subtitles for foreign language films and documentary.

Other Skills: You may open a small business from your home. It could be selling art and artifact. You may choose to sell handicrafts from Asia. You may choose to teach Yoga. You may choose to open an Italian or French restaurant in your city. You may choose to sell artificial jewelry from or you may choose any other part-time job and small business. Your aim is to earn extra money apart from your regular salary.

Optimize Saving

You may reserve your salary income for household expenses, loans, insurance, tuition-free, and medical expenses, etc. You can also reserve a part of your salary for short-term and emergency funds. But your entire savings from part-time job and small-business should go into long-term saving.

Maximize Flexibility

Optimizing the procedures for earning, spending and saving can give you the maximum financial flexibility in your life. You can dare to spend a few more dollars for the cappuccino you drink at your favorite restaurant on your next visit and smile.

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Budget

When to Stop Dreaming and Start Building Your Dream Home

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Build your dream

You have been dreaming of a home for many years. You have also been saving a significant part of your income. You are still waiting for the right time to start building your home. Today is the time for you to take proactive steps without procrastinating further.

Evaluate Your Savings

You may have done the savings in many forms. Bank accounts, stocks, bonds, and other investments can be useful for making down-payment to your mortgage loan. But you’ll need to convert them into cash assets before taking up the mortgage project. You can consult your stock brokers and find the fastest possible ways to transfer the investments as cash into your bank account.

Simple Practices

Credit Rating: It is essential to have a decent credit rating and plan for ways to improve it. The first task is to start paying your bills through credit card. Clear your credit card balances on time. Keeping a low balance can help to increase credit ratings.

Credit Limit:  Increasing your credit limit is one way of avoiding negative credit rating. It can also increase your purchasing power and the loan limits for a mortgage.

Reduce Debts: You have to reduce other debts and clear the existing ones as soon as possible. Giving top priority to your home building means you have to forget about other luxuries like an expensive car, jewelry, holiday travels, etc. Initially you may find it to be a tough task, but eventually, you will get conditioned. Then it is possible to have a low debt which is a positive booster for your mortgage.

Plan Your Budget

The budget for the dream home should be within your repayment capacity. Evaluate the basic accommodation you need in your home. If you are a small family, it is better to plan for a two bedroom home.

Buy or Build: You have to choose between buying an apartment and building your home. A real estate consultant can give you the best advice based on your budget. If you own land it is better to build. It gives you scope for extension in the future. You may think of extending your rooms or building additional structures when the finances stabilize.

Buying is more economical than building. You don’t need to deal with the hassles of contractor management, material management, inflation, and other uncontrollable factors. But your home may be restricted in its dimension and facilities. It is better to take a decision after consulting with your family.

Mortgage Loan:  You can apply for a mortgage loan after talking to your consultant. He can advise you about the right bank or financial institution to approach. If you are an employee and have a regular source of income, it is possible to approach a federal or state-owned public bank.

Low-interest rate and flexible repayment policies will make your mortgage simpler. Make sure you have insured your home for fire, external elements, and other forms of damages. You can start building your dream home now by taking the proactive measures listed here.

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