Posts Tagged ‘ part time job ’

How to Keep a Steady Paycheck while Starting a Business

By Kevin M

Quick—you want to start a new business—what’s your biggest fear?

If you said “failure” you’re close, but you’re confusing cause and effect. It’s the inability to make money—also known as the loss of a steady paycheck— that would be the cause of the failure that’s at the root of your deepest fears. Failure will merely be the result—or the effect—of the inability to make money.

But there’s a way to reduce this fear, by breaking the income process down into smaller steps. The point of breaking it down is so that we can approach the income hurdle that all small businesses face into a series of manageable blocks. What we want to do is to convert the self-employed income hurdle from an obstacle to a transition process.

You want to try to engineer the transition in four steps:
Read more »

Happy New Year – It’s Time for a Financial Luggage Check!

By Kevin M

Okay, the holidays are over—and the free spending with it! It’s time to clean up the mess before it becomes an even bigger one!

Despite everyone’s best intentions, overspending at the holidays is pretty standard. It isn’t until January when the bills come in that the extent of the damage is fully realized. There’s always an extra gift or two (or three or more) that we forget about, a holiday dinner out with friends or co-workers, some extra heavy travel expenses not budgeted for—it all adds up, but heck, we’re human. But not to worry, we have an entire year to get things back in order before…the next holiday crush.

And maybe we can even make some permanent changes for the better along the way.

Try a few of these in the next few months and see if they help…

All Jobs are Temporary! (And What You Can Do About It)

By Kevin M

Welcome to the 21st Century, where job security is a thing of the past! No one wants to think about this, but because of technology and globalization, the possibility is very real that many jobs and careers that have recently disappeared aren’t coming back.

There may be a temptation to think that you have nothing to worry about because your job or career isn’t immediately threatened. But that’s just what many people in customer service, information technology and many other fields thought just a few years ago before their functions were moved overseas.

There are almost no jobs that can’t be replaced by a machine, a computer software system or a lower wage worker in some other country. The economic landscape is changing and though we may not like it, we have no choice but to adapt. Are you ready?

There is no more job security

Some Jobs Are NOT Worth Having

By Kevin M

Going ... going ... not quite gone by ghb624.

Over the past week I’ve been writing about the often negative consequences of various jobs and income situations. Today’s post is on the same topic, but it centers on my own personal experience with a job I probably would have been better off if I’d never taken it.

When ever someone has financial problems, there’s a strong tendency for others to suggest “why not get a part time job?” As well intended as that advice may be, I’m here to report that such advice isn’t always the way to go. Some jobs can actually cost more than they bring in…

A few years ago, in the middle of a time of significant financial distress, I took what I thought was a part time job with a local newspaper doing delivery.If you haven’t noticed, the days of the newspaper being delivered by neighborhood kids is long gone and being performed entirely by adults in cars.

On the surface, it looked like a perfect situation: an income of over $1000 a month for early morning work. I’d be done by 6:30 or 7 in the morning, so it wouldn’t interfere with my regular work. Or so I thought!

But some jobs can’t be fully understood until you’re actually in them.

Early morning meant 2:30 a.m. Monday through Thursday. Toward the weekend it was even earlier; 2 a.m. on Friday, 1:30 a.m. on Saturday and Sunday. If I came in for a couple of hours on Saturday afternoon to assemble the Sunday ad supplements beforehand, otherwise there was no point even going to bed Saturday night – I’d need to be at the shop by midnight!

If you’ve never been involved in newspaper delivery, you probably have no concept of the magnitude of getting the overstuffed Sunday edition of your familiar major metropolitan newspaper delivered to your doorstep each week.

Payoff Your Credit Cards – But Set the Stage FIRST

It’s easier when you take care of a few things first

By Kevin M

It’s been said that the best way to accomplish a big project is to break it into a series of smaller ones. Paying off credit cards can be as big a project as we can imagine, based on the size of the debt that needs to be paid off.

Often it’s the size of the debt itself that presents the biggest obstacle to even getting started. While it may not be too difficult to payoff $10,000 in credit card debt going from a standing start, a balance of $50,000 will require marshalling all of our efforts and resources.

It’s important to realize that paying off credit cards isn’t just about discipline. A huge part of the project is emotional and you’ll have to do it in such a way that you’re rewarding your efforts by reaching crucial milestones along the way. Take it in stages, stack the deck in your favor, and the whole process will be less painful.

Multiple Income Streams to replace One Man-One Job?

By Kevin M

You may be employed at the moment; in fact you may even be well-employed. But look at many others around you and what do you see? With millions unemployed, millions more under-employed, and hundreds of thousands of jobs being outsourced to lower wage countries, what does the future of employment hold? Is it possible that the sun is setting on the traditional one man/one job model of employment and income?

Before dismissing the possibility, consider that only 40 years ago tens of millions of workers were employed in largely high paying, mostly unionized factory jobs. Just over 100 years ago the majority of Americans were employed in agriculture. Where are all of those jobs now? And if one man/one job is going the way of the factory job, what are our options?

Developing multiple income streams may become a necessary reaction to an environment where the unemployed often return to the work force in lower paying jobs.

Cultivate Multiple Income Sources

STRATEGY #5 TO SURVIVE A DOWN ECONOMY

By Kevin M

In the dreary job market of the moment, people are having difficulty with two major areas in particular: keeping a steady income flow and increasing that flow. The increasing level of unemployment is not only eliminating jobs, but it’s also putting a lid on raises and promotion opportunities. This is in large part, the driving force behind the credit crisis and the epidemic of foreclosures and bankruptcies. Is there a way to deal with it without taking unnecessary risks?

In 10 Ways To Survive a Down Economy (published on Christianpf.com June 1) we listed ten strategies to help us deal with the bad economy. Our topic for today, Strategy #5:

Be prepared to cultivate and balance multiple income sources. You may have a full time job and a part time business, or vice versa. Think of your work in terms of an investment portfolio, in which diversification adds strength. There are probably several jobs you are potentially good at; always be on the lookout for new opportunities.

Why increasing income or broadening the income base matter

Start and Grow Your Nest Egg, Even if Your Broke

By Kevin M

If you’re living paycheck-to-paycheck, and struggling just to get by each month, that situation won’t improve until you reach the point where you have a cushion to back you up. You might think that the pressure would be eased by an additional income source, but the problem with higher income is that in a short time it tends to get swallowed up by Lifestyle Inflation—the more we earn, the more we spend.

Some financial types recommend paying off high interest credit cards before beginning a serious savings account. They cite math equations pointing out the numeric absurdity of carrying high interest credit cards (13% or more) while earning close to nothing in interest (1-2%) on savings. On paper, backed up by numbers, this looks very compelling.

Be Flexible in the Face of Changing Circumstances

STRATEGY #6 TO SURVIVE A DOWN ECONOMY

By Kevin M

If there’s ever been a time to adopt flexibility as a strategy, it’s now. The certainty we knew only a few short years ago is currently failing us, and our progress and even our survival may rest on our willingness to adapt to change and to new rules as much as anything else.

In 10 Ways To Survive a Down Economy (published on Christianpf.com June 1) we listed ten strategies to help you deal with the bad economy. Our topic for today, Strategy #6:

”Be flexible in your plans and ready to adapt to changing circumstances. If your job is eliminated, offer to contract or to work part time for the same company. If you develop multiple income streams, a shift to a part time arrangement may be to your advantage on a number of fronts. Be prepared to convert a negative development into an opportunity.”

Cashing in on Seasonal Jobs and Business Opportunities

FRIDAY INCOME & CASH FLOW FORUM

Kevin M

Working a part time job or side business in combination with a full time situation can be a tough juggling act, especially over the long haul. Some people can manage it, but probably most can’t, at least not for extended periods. It’s called having a life!

But sometimes you just need a little bit of extra money. Maybe you need to build up some cash in your emergency fund, clean up some bills, cover some repairs or a major purchase, or maybe for an upcoming holiday or special event. You aren’t looking for a lifetime arrangement, just a short term burst of extra income to clean up your finances.

Page 1 of 212 »

Pages

Posts Tagged ‘ part time job ’

How to Keep a Steady Paycheck while Starting a Business

Happy New Year – It’s Time for a Financial Luggage Check!

All Jobs are Temporary! (And What You Can Do About It)

There is no more job security

Some Jobs Are NOT Worth Having

Payoff Your Credit Cards – But Set the Stage FIRST

Multiple Income Streams to replace One Man-One Job?

Cultivate Multiple Income Sources

Start and Grow Your Nest Egg, Even if Your Broke

Cashing in on Seasonal Jobs and Business Opportunities

Financial Management