There are a lot of ways to do this, but one of the best things that you can do is start tracking your expenses. This blog post will give you some tips on how to get started with budgeting and managing your money better.
-Start by tracking your income and expenses for one month. This will give you a good idea of what is coming in and going out on a monthly basis, as well as how much money you have to work with each month.
-See if there are certain areas where your spending habits don’t match up with what you want from life. For example, do you spend more than $200 per month eating out? If so, try cutting that amount down or finding ways to find places to eat at home that can save some cash. It’s all about limiting your expenses to necessities, try not to be so impulsive and pay for things that you only need. As a business owner would it make more sense to keep your accounting software like sage 200 and pegasus opera 3, or even your IT Support Cardiff? Or would you prefer to spend your business earnings on things like take out for the office or parties?
-Figure out whether saving the difference between what goes into your account every day (or week) versus the amount spent is feasible in comparison to something like side hustles or other methods of increasing income and this is the best idea for you.
-If the difference between what goes into your account is always negative, then this method might not be right for you and it may be a good idea to look into other options that can give an income boost while still being flexible with time commitments.
We don’t have enough money put away in savings or retirement accounts which means that many of us are living paycheck to paycheck. It’s hard to know how much is left over after paying bills every month because lots of people use credit cards to cover their expenses like groceries, gas, clothes, and entertainment (Netflix does get expensive). Reviewing your finances on a monthly basis will help uncover any problems before they spiral out of control. You need to make sure that we’re living within our means and not overspending on things we can’t afford.
Financial Tips: Ok, so let’s talk about other options that can give an income boost while still being flexible with time commitments. What are you good at doing? Can this be turned into a side gig or passive income stream (maybe it’ll take some additional work to get there)? This could include tutoring, dog walking, small business consulting, teaching English online in Taiwan for $20/hour as one example of how students around the world interact with international cultures without ever having to leave home. You need to make sure that we’re living within our means and not over-spending on things we all need or want. But we also need to be realistic that sometimes over-spending is worth it, as long as you can afford it and don’t spend money on things just because there’s a sale going on.
Financial Tips: Ok, so let’s talk about other options that can give an income boost while still being flexible with time commitments. What are you good at doing? Can this be turned into a side gig or passive income stream (maybe it’ll take some additional work to get there)? This could include tutoring, dog walking, small business consulting, teaching English online in Taiwan for $20/hour as one example of how students around the world interact with international cultures without ever having to leave home. You need to make it all work together, so knowing what you are good at or have a passion for and then leveraging that is key.
You could also consider flipping items on eBay to make some cash if you’re not too picky about all of the time-consuming details like inspecting every penny before listing it (check out this video from The Penny Hoarder) OR create your own Etsy shop!
I hope this post was helpful in helping answer any questions about how to increase income while balancing school, family commitments, and side projects. Let us know what