Why are we budgeting? Sincerely ask this of yourselves my lovelies, and pen your goals. Are we looking to save for the future, reduce our debt, maybe just a mini-getaway is in the works? Whatever the reason, if you’ve don’t the math (and I hope your math skills are better than mine) you may have come to a sticky conclusion. In today’s economic downturn, your current income just doesn’t cut the mustard. Heck, you can’t even buy the mustard. So, what can you do to speed up your process of saving and reach that end goal faster? Well, minimize spending first, and then we’ll move right along from there.
OK, minimal spending. I am SUPER SERIOUS here! Necessities (note the difference between need and want folks) and the bills. That’s it. Put down those adorable wedges and put the sweet maxi dress back on the rack. No DMS either. MINIMAL output of your hard-earned income.
The second thing you can do, although this is a tough lot to pull, is finding a second income stream. As an average human, I don’t like to give the advice of “go find a second job” to others, but it may be to your benefit. Each of us is different and knows our limits, so take this with a grain of salt. (Tequila on the side if you already have some in the house- that’s not a necessity, usually.) If you have cut back on all your spending and you are still struggling to make ends meet, the second source of income may benefit your life. Let me first repeat my main idea folks – STOP spending money. If you are overly tight, then second income is your next step. I think having another source of income is a significant benefit, especially if you’ve cut spending and are close to making it work because all that extra income is going straight towards your goals!
Today’s post, privately requested by a lovely reader, will be some tips for finding secondary income streams that work for you and your lifestyle. Ready? Let’s do this!
- Think of life as a jigsaw puzzle. Your schedule is made up of jagged edged pieces – find ways to make them fit. Perhaps the biggest struggle in the search for a second job is having the time and the schedule for two jobs. Most employers want open schedules and that doesn’t work with two separate jobs. So, what do you do? Let’s say your “A” position is only open during the day M-F; In that case look for “B” job where work is on weekends or at night. And heck yes, you WILL be tired. It might seem impossible, but the jobs are out there, although perhaps they are unconventional.
- Think outside the box. Sometimes the job that will work or you might not be posted to a job search website. My best advice would be to start asking around! I do some freelance blogging, editing, and proofreading. It’s not steady work, but I can work it into my schedule around my weekday 9-5. I talk to people all the time and everywhere from the grocery checkout to the carpool line. Often, when they find out what I do for a living (outside my 9-5), I am always finding new jobs that I didn’t know existed. There are referrals for one time and repeat written pieces, and this second stream is found money. Start thinking outside the box for other sources of income, and you’ll be amazed at what you can do! If you like gardening, perhaps a weekend landscaping gig is your 2nd stream, if you love animals, check out the pet shops or shelters. Be creative.
- Work your talents. Another easy/not-always-so-easy income stream is working for yourself or selling something that you do. For me this is freelance writing and editing, for you, it might be selling things you make on Etsy, giving lessons, consulting, etc. Working for yourself gives you the freedom to set your price, decide your schedule, and most of the time, you’re doing something you love! I use a national freelance guideline to set my prices, so you might need to do a little research, but heck, money is money! Think outside the box and turn it into an additional income stream.
Compare your financial goal to the ocean. Lots of streams and inlets feed into it and so too is your income. Even the smallest amount helps you reach your goal, because money is money. If you’re committed to working hard and taking the right steps, you are headed in the right direction. I hope this post gave you some food for thought, ideas or encouragement to find unique ways to reach your financial goals! I wish you luck, remember, I’m your #1, most caffeinated cheer squad leader!
Stay motivated and caffeinated!😉☕