Category Archives: Money

6 Ways to Diversify Your Income

Relying only on your day job for income is a very dangerous position to be in. What would happen if you lost your job tomorrow? Would you have anywhere to turn? How would you pay the bills?

While you might think your job is safe, the truth is we’re still in a down economy and you never know when then next job cuts will be rolling around.

Instead of being stuck and scared in the event that something would happen to your job it’s better to be proactive and create more sources of income.

Here are six ways you can do it.

A Side Hustle

The number one way to safely diversify your income is to have a side hustle.

A side hustle is simply another way for you to bring in money other than your day job. It’s also generally a lot more fun than having a day job. You get to pick how you want to earn, depending on your hobbies and skills and work your side hustle into your schedule.

If you’ve ever thought about becoming self-employed this is also a great way to test the waters.

You can also use the income you pull in from your side business for one of these other ideas.

Dividend Stocks

Building a portfolio of dividend stocks is another great way to add to your current income streams.

Dividend stocks pay out a dividend (a small percentage of the stock) on a regular basis. In order to pull a significant income from dividend stocks you’ll need to have a lot of money invested. You can grow this a little at a time and make sure you diversify your stock choices.


Certificates of Deposits, or CDs, used to be a safe way to bring in additional income. Times have changed.

The interest you earn on CDs is now very low but since it’s still higher than what you’d earn in a savings account we decided to add it to the list.

Rental Properties

Rental properties are a tried and true way to build wealth, both long and short term.

There are several things you need to account for when purchasing rental properties. Things like maintenance, vacancies, property taxes, and insurance should be factored into the rent you charge if you want to maintain a positive cash flow.

If you can amass several rental properties with positive cash flow you can build a full time income for now and a retirement income for later.


Looking for a semi passive way to diversify your income? Earning money off of royalties could be the solution!

You can sell an eBook, photography, and even music for royalties. The great thing about this option is that you do the work once and can keep pulling income. However, that doesn’t mean there’s no need to promote your work. The more you promote the better your sales will be.

Become a Serial Flipper

In my opinion flipping items is one of the most fun ways to earn extra income. And you can do this for virtually anything!

Just find a product that is undervalued, buy it, and then turn around and sell it for a bigger profit. You can look at yard sales, flea markets, Craigslist, and even the clearance section of retail stores.

Once you find what you’re going to flip sell on a place like Amazon, Facebook Yard Sales, eBay, or Craigslist.

Just be sure to start small and get the hang of it before putting too much money into this option.

What’s Your Favorite?

Diversifying your income, no matter which route you choose to go, will help you solidify your financial plan, provide you more money to put toward your goals, and keep you safe in the event you’d lose another income stream.

Do you diversify your income? If so, how?

4 Ways to Boost Your Earning Potential

If you’re like nearly two-thirds of people, then you’re not satisfied with your wages. That’s an understandable concern in a person’s career, but what if you could do something to control your pay? Check out these things that you can do to increase your earning potential.

Go Back to School

If you’re really hoping for a promotion or a change of career in the near future, going back to school may be the key to boosting your pay. The Pew Research Center discovered several interesting facts about holding a degree. For one, their data showed that of the Millennial generation, individuals with a bachelor’s degree or higher are making $15,500 more per year than those with a two-year degree. However, an individual with a two-year degree is only making a mere $2,000 more per year than high school graduates. You can see these benefits come to you in terms of promotions or entirely new career paths.

If you decide to go back to school, consider pursuing an online degree. Since there’s more flexibility in when you can complete your coursework, you won’t have to quit your full-time job and give up part of your salary to finish your degree. With an increasing number of online master’s programs, such as a sports management degree online, even university graduates can increase their earning potential through online courses by getting an advanced degree.

Learn a New Language

Believe it or not, sticking with that high school Spanish class may have been a good idea. Statistics show that learning a foreign language can earn you an extra 2 percent per year. It may not seem like a lot, but calculates that as a college grad, that’s an extra $67,000 in your career that you can put toward your retirement. Another estimate reported by U.S. News & World Report says that number could be as high as 10 to 15 percent more money, given that it opens you to so many new career options.

Boost Your Industry Knowledge

No matter what industry you’re in, things are constantly changing as technology advances. Do what it takes to learn new systems, and stay on top of industry trends to show your company how valuable you are. If you’re involved in social media, you have to learn about new platforms such as Pinterest. If you work in the forex industry, learn about a company like to make sure you’re on top of industry trends. Value means a bigger paycheck. What can you do to prove that you’re valuable and on top of things?

  • Show enthusiasm for changes in the company
  • Attend conferences and industry events
  • Network with important people
  • Be the first to say “yes” to important challenges in your company

Ask for It

If you’ve been at your same job for years without a pay raise, remember that with years of experience usually comes higher pay, too. Don’t be afraid to ask to get paid what you’re worth. Keep details about your achievements in your career so that when you ask your boss for a raise, you have the data to prove that you’re worth the money.

Want to get paid what you’re worth? Start with the above-mentioned tips. What steps will you take to boost your salary?

The Best Times To Ask Your Boss For Vacation

Just about everyone with a normal 9-5 job looks forward to their precious weekends and vacation days. It’s not that we hate our jobs, but we have a work hard, play hard mentality. We want to spent time with friends and family, so we work hard all week to have those opportunities.

While we usually have weekends all to ourselves, planning vacations is a bit more difficult. Asking for a day or two off is fairly easy as it doesn’t disrupt projects and short periods of time out of work should not cause big issues. There’s the guilt aspect of asking for vacation, too: your coworkers will have to cover for you.

Asking for a week or more of vacation time, however, can be much more problematic. You have to compete with project deadlines and coworkers schedules to find a time that’s convenient for you. It’s often very stressful asking for more than a few days of vacation at once because getting turned down can feel like a big letdown. Here are some of the best times to ask your boss for vacation.

Ask About Planned Vacations Before You Accept The Job

If you’re planning a vacation before you begin a new job, this can be the best time to ask about pre-planned vacations. Yes, you may want the job desperately, but employers also want you and understand that we’ve made commitments prior to getting an offer. Once they offer you a job, you can bring up commitments you’ve already made and ask if they can accomodate you. If they think you may not take the job if they say no (and they want to start off the relationship on a strong foot the same way you do), they have more to lose than to gain.

Ask For Vacation After A Successful Project

If your performance has been solid and you’ve gotten positive feedback about it, you’re more likely get your vacation request approved. It will be in the front of your boss’ mind just know how valuable you are to the team, and he or she will be more likely to accommodate your request.

Make It Easy For Your Boss To Say Yes

There are a few things you can do to give you the best chance for your boss to accept your vacation proposal. If you have been slacking off or your work hasn’t been up to snuff, put off asking until you’re in good standing. Ask far in advance, before your coworkers get a chance so there are no other competitors for your preferred vacation dates. And offer to work during popular vacation times, like Christmas week, and you coworkers will be more willing to pick up the slack when you’re out of the office.

Lauren and I are taking a big vacation starting this week, and I let my employer know before I even started. After being offered the job, I asked if they could accommodate the vacations I had already planned. One had already been booked, while the other I was still planning, and tried to find a time that worked well for everyone. They graciously allowed us to go, and we scheduled it partly during Thanksgiving so I won’t miss as many days.