Monday, January 24, 2011

"The Side Hustle"

In a economy where even the duel income household is having a hard time making ends meet, where does one turn?

"The Side Hustle"
A few synonyms for a side hustle:
  • Part-time job
  • Second job
  • Small business
  • Side business
  • Slash career
 There are thousands of ways that someone can earn extra cash each month choosing one seems to be the hardest part. I have really been turned on to this idea by listening to Dan Millers 48 Days To The Work You Love podcast. Where he gives a lot of advice on how to start a profitable "Side Hustle". One of the key points he focuses on is choosing something that you know a lot about or love. I couldn't agree more, for example say you love to fish and wish you could spend everyday doing it, wouldn't getting paid to do it be amazing? So why not give it a try? Here are a few ideas that I came up with that could be turned into a profitable "Side Hustle".

Web Site Development: Almost every small business in the United States has or needs a website. However many of them can't afford to pay out big bucks to create a nice website. So like me they end up using a free blog format like blog spot. Why not offer them a great site for a good price, something that meets their needs and also puts some money in your pocket.

 Paperboy: Believe it or not paper routes can bring in a few hundred dollars a month, this is a great idea for someone who has a full-time job but still needs some extra cash each month. Wake up early and hit the streets like you did when you were 14. Only this time around you have a nice car to ride in.

Donate Plasma: So it's not a small business but I have friends who make $300 dollars a month doing this twice a week during their lunch break. Think how much debt could be paid off with that extra $300 a month, and they let you watch a movie while you donate.

Become a Guide: So back to the fishing, you know all the great places to fish, hike, bike, swim, explore, eat, ski, ect... well why not make it profitable by getting certified and getting paid to be a local guide to people from out of town or locals wanting to pick up a new hobby. I would love to get into rock climbing but I really wouldn't know where to start. I am sure there are tons of people like myself who would love to learn what you know.

Designated Driver: Put that SUV or Mini Van to work after the kids get home from soccer by arranging to pick up locals from the Bar. Stop in and talk to a few bar owners and post some paper advertisements on the door. My parents small town has no taxi services making this a profitable industry there.

Elbow Grease To The Rescue: Local banks and businesses are always looking for a cheap way to keep their place clean. Why not spend a few evenings a week taking out the trash and vacuuming while listening to your favorite podcast. Even better charge a fair price and pay some high school or college students to do it, creating a nice passive income.

Start Blogging: Have something you really want to say or have a unique take on life? Why not start a blog where you can share your story and advertise on the site. Sure most sites like mine generate very little money, (not enough in my case to even be considered a "side hustle" but it's a lot of fun). Some guys like Trent Hamm at The Simple Dollar have turned blogging into a career.

Rental Income: So you can't afford to own a full rental property? Why not rent out extra space like parking spaces if you live in a big city or close to a university. Have an extra room in your house? Rent it out to someone looking for a cheap place to live. Rent out your yard or driveway to someone looking to have a yard sale but do not live in an area with lots of traffic. If you own a business but don't use all of the space, why not sublet out to someone and watch the cash come in.

Mobile Detailing: Open your own mobile car cleaning service, and spend your lunch hour cleaning someones car. Start with your co-workers and you will be surprised how much people will pay to save themselves 30 minutes of their Saturday.

Sell Wood: If you live in an area that gets nippy in the winter, chop wood and sell it on Craig's list. Most states offer free tree cutting permits for areas that are overgrown. Spend a few days and fill up that pickup truck you "had" to buy with some wood. Split it, bundle it up and sell it.
I plan to add to this list often but hope that you get the idea of what I am saying. We started a small business to do just what I am talking about and have been really surprised at the success we are seeing. After a few months of preparation and grass roots marketing we are starting to see some constant money coming in. What side hustle are you doing right now? What one would you like to try?

Thursday, January 20, 2011

Who wants to be a millionaire?

Financial success can be reached in thousands of ways but here are a few ideas from people who are either already there are a lot closer to it than me. 

Become a Millionaire in ten years:

Although it's a plan that takes a pretty hefty paycheck to accomplish, I know a few families who if they were willing to live off of an income that the average american family does they could be millionaires in just ten years. 

A few great quotes from Dave Ramsey:
1. “I'm not against people having new cars. I'm against them having you. We spend a tremendous amount impressing somebody at the stoplight who we'll never meet. It makes you broke and keeps you broke.”

2. “This is not a game, ... Debt has become a part of who we are. It's become that spoiled child in the grocery store with their lip stuck out: 'I want it. I want it. I deserve it because I breathe air.' And, well, that's an uphill climb in our culture right now, to go against that and say, 'Hey, let's be grownups here. Let's be mature, learn to delay pleasure, save up and pay for things."

3.“I'm not talking about Hitler's boot camp for kids or something. But they do need to learn to work, ... Graduate from high school with something more than the ability to open a bag of Doritos and play Nintendo. That's a bad plan. Work creates money. I meet 54-year-olds that haven't got that one down.”

Friday, January 14, 2011

Frugal winter DIY projects.

A few DIY ideas I want to take on this winter,

Wall mural:

Decorating a home office can get expensive, but with creativity and some help from others coming up with some great decoration ideas on the cheap can be easier than you may have thought. Inspired again from Ready Made Magazine is a wall mural I want to put my own spin on and put in my office as an accent wall. Purchasing the posters from thrift stores and newspapers, should be a cheap fun project to do. I will keep you updated on it.

Speaker wire jump rope:
Looking to burn some of those holiday pounds but do not want to go run in the freezing cold air. I found a great design for a jump rope made of speaker wire and a few permanent markers. I love the look and it is a cheap way to make something great. Here is a pic of one. 

Portable filing cabinet:
In hopes to better organize the home office I ran into a super cute filing system that I liked. So I have made a few changes so I can move the cabinet around the house easily with some caster wheels. I have started collecting pieces already from local thrift shops. I am hoping to keep the total cost under $25 dollars. Picture soon to come. 

Remodel Bathroom:
Our guest bathroom is outdated and impractical, it doesn't have a shower leaving guests with only one choice to use our shower. So this winter we are going to start pulling an overhaul. Of course we will be doing this the most frugal ways we can think of. We also hope to see added value to the home with a more functional guest bathroom. I will keep you posted.

What are a few projects you would like to do to pass the cold winter? Shoot me an email with the project idea and pictures of the final project and I will post them on here.