Thursday, November 10, 2011

Money Making Ideas

I just read this article about  "25 Unusual ways to Make Money Fast". Quite interesting and definitely eye opening to see what people consider as methods for making quick cash... They rank them from least desperate to most desperate.  

The first few ideas are actually good normal ideas, start a part time business, sell your handmade goods on Etsy, have a garage sale, do odd jobs, take a part time job... and then it jumps to extremes for the completely desperate(and if I do say so myself, STUPID). They suggest signing up for medical tests, selling plasma(not the worst idea but not a fun one), tap into life insurance, get a payday loan, raid your IRA, Pawn your stuff as collateral for a small loan, bank your sperm, and head to the Casino's(seriously!!).

Ok, too much to address here. I think this may be obvious to some but just in case, doing medical tests are exactly that, TESTS... It makes me think the whole "not practiced on animals" is there because they practice on humans... do you want to be their guinea pig? I sure don't. I'll pass.

 And then tapping into your Life Insurance and your IRA... HORRIBLE ideas. Not only will that have complete dominoe effect on your future finances that you obviously tried to prepare for but when you withdraw from your IRA or Life Insurance, you are sure to incur fees and pay taxes since it will be reported as income. I would suggest that you don't just jump to this solution. If you are that desperate, first talk to your Insurance/IRA company and ask what withdrawing would really cost you(not just fees but in the long run as well).

And then, run to the Casino's? Really? While some may win... the statistics are WAAYY against you on this one. You'll end up with less than you went in... or even worse.. broke and owing someone... and who knows what kind of someone that is. Just saying, gambling is just that. You'd be better off missing a payment or making a partial payment than heading to Vegas to loose it all!

If you want REAL ideas for making money, first turn to your own habits. 

Do you buy a coke/coffee/candy bar everyday? 
Do you go out to eat everyday?
Do you buy alcohol and cigarettes?
Did you buy a car that is too expensive for your budget? 
Are you an impulse buyer?
Do you even budget or know what the word means(for those who are desperate enough to head to Vegas)?

These are things that you can change fairly quickly with some will power with the exception to those who may be addicted to smoking or alcohol... those of you who are... please get help... it'll save your lives and your pocket book.

If you already have cut out all of those little things that add up to a lot then try making extra income.

Here are some ideas for you that won't put you and your families future in jeopardy, and yes some of them were listed in the article I read. 

*Find a job for the holidays
*Find a better paying job
*sell your stuff on Craigslist(usually you can sell it for more here than at a yardsale)
*Have a yardsale
*Take your items to a consignment shop to sell
*Open an Etsy Shop(one I'm very fond of)
*Take your talents and make them work for you(EX: Sewing, cleaning, crafting, budgeting, whatever)
*Babysit others(or start a daycare, with proper certification)
*Become a consultant for a company with great products
*Start using just cash(or get a debit card that pays you back when you shop)

Or maybe you need to find a place with less expensive rent, cut down on electrical usage, cut down on driving, car pool with friends and family. Make frozen meals ahead of time so you don't get so tempted to eat out. BUT MY GOODNESS PLEASE DON'T RUN TO VEGAS and please don't ruin your future by withdrawing IRA and Life Insurance policies!
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