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3 Steps to Making Easy Money on the Side

3 Steps to Making Easy Money on the Side

Don’t have enough money?  Can’t get a raise?  Is the bad economy being a drag on your finances? Look, everyone wants more money, and I’m here to let you in on a little secret—for the vast majority of us, making hundreds—or even thousands—of dollars more, per month, is entirely possible.

I’m not talking about quitting your job or changing your career.  I’m talking about making money on the side: taking skills you already have and padding your wallet with some cool extra cash each month.  How awesome would that be? I’m an entrepreneur, and I’ve seen plenty of people who make money on the side.  There’s no “exclusive formula” for it: it’s really just about consistency, long-term focus (don’t give up in a week), and learning from mistakes (optimization and hacking your way to success).

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    98% of people who read this aren’t going to take my advice, and will just keep complaining they don’t have enough money, and do nothing to better their situation.  Whatever.  But, if you’re one of the 2% of people who actually wants to make a difference in their own life, and to make more money using skills you already have, read on, and see what’s worked for lots of people I know:

    Step #1: Come up with an idea by asking 10 people what their problems are.

    Stop worrying “but R.C., I don’t have any skills I can offer someone!”, and instead, go ask 10 people what their problems are.

    Go to a Chamber of Commerce meeting and ask 10 business owners what their problems are. Go to Warrior Forum and start a thread asking people what they need, then ask your contacts the same thing. Point being, leverage your network to figure out what’s bugging people, and how you can help solve their problems. For example, I once got freelancing work helping an accounting by writing their promotional pieces.  Who would have ever guessed that my claim to fame would be doing that?  But persistence paid off, and I found a way to make some cha-ching.

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    Step #2: Set long-term goals, and keep a long-term focus.

    Want to hear a secret? Most businesses take a long time to reach profit.  I just had a phone call with the founder of a luxury jean company who told me that after 3 years, their business was still running at the break-even point.  That was okay, though: they were in it for the long run, and frankly, it didn’t really matter what the short-term results were. Instead of just worrying about how you’re going to find clients, come up with goals and a tangible way to do it.  Focus on what you will have in the next year, instead of just being pouty that the world didn’t hand you cash on a silver platter. You’d be amazed how many would-be entrepreneurs fail on this point alone: they’re sad that they’re not making money immediately, get overwhelmed”when things get hard, and quit after 2 months.

    Weak, weak.

    If you’re serious about making money on the side, then actually stick with it.  If you’re feeling overwhelmed (believe me, I’ve been there), seek out the company of other entrepreneurs (you’re an entrepreneur now, champ), and find solace in hanging out with others who have successfully gone through the same thing.

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    Step #3: Build in ways to get referral business

    We all know that the best kind of marketing is word of mouth, so why not make it easy for others to market for you? Offer your first few clients discounts for referrals to others, and constantly ask your clients for feedback to ensure you’re delivering tip-top, referable service.

    You know that expression in business “making your first million is the toughest, and it’s easier after that”?  Same thing with making money on the side—once you build momentum, it’s easier to get started.

    I’ve seen tons of people make money on the side and start businesses.  That’s how I know you can—and should.

    I’m not just writing platitutdes or rehashed random crap.  I’ve seen lots of people—often my age (23!!!)—do this stuff successfully, and it’s always a shame to hear people talk about their money woes, but see them do nothing to better their situation. I hope this article gets you thinking about making money on the side.  If you decide to go down that route, you still have a lot more research to do.  Contact me or check out my blog if you’d like to know more!

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    PS- in the comments below, feel free to share: have you made money on the side?  What did you do?  Was it tough before?  How long did it take you to build your business?

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    Published on July 4, 2018

    Top 10 Recommendations on Money Management Apps

    Top 10 Recommendations on Money Management Apps

    Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

    The solution is simple, save more and spend less. But, we all know it’s easier said than done.

    One problem is finding quality apps that save you time and money, and aren’t just hype.

    Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

    1. Personal Capital

      When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

      Here are some of its main features:

      • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
      • Discover hidden fees and how much they’re affecting your retirement plan
      • Wealth management for investors requiring a long-term strategy

      With Personal you’re free to track your expenses and net worth.

      Available for: iOS and Android

      2. Mint

        If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

        Here are some of its main features:

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        • Effortlessly track all your bills and balances in one dashboard
        • Categorized expenses to understand where you spend your money
        • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

        Feel at ease with managing your money by a reputable company that isn’t going anywhere.

        Available for: iOS and Android

        3. YNAB

          Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

          Here are some of its main features:

          • Easily sync all bank accounts in one place
          • Visually see your debt paying progress with eye-catching charts and notifications
          • Customized categories setting saving goals

          The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

          Available for: iOS and Android

          4. Wealthfront

            Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

            Here are some of its main features:

            • Variety of investment account options including IRA, Roth IRA, and more
            • Your portfolio composed of 7 different asset classes
            • Automatically rebalanced portfolio
            • Daily tax loss harvesting

            Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

            Available for: iOS and Android

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            5. Clarity Money

              If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

              Here are some of its main features:

              • Easily cancel subscriptions with one click
              • Synchronize bank accounts fast
              • Transfer money effortlessly between different accounts

              Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

              Available for: iOS and Android

              6. Acorns

                What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

                Here are some of its main features:

                • Automatic contribution option
                • Customized portfolio tailored to your needs
                • Low management fees ranging from $1-$2 per month

                Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

                Available for: iOS and Android

                7. Albert

                  Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

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                  Here are some of its main features:

                  • Receive notifications for overpayments, hidden fees, and low balances
                  • An Automatic budget that’s built around your spending and income
                  • Easily track debt and set new financial goals

                  While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                  Available for: iOS

                  8. Prism

                    Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                    Here are some of its main features:

                    • View all your account balances in one glance
                    • Bill due dates are automatically pulled and tracked
                    • Receive early reminders for upcoming bills

                    If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                    Available for: iOS, Android, Windows, Amazon

                    9. Mvelopes

                      Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                      Here are some of its main features:

                      • Connect unlimited bank accounts
                      • Real-time budgeting with auto transaction syncing
                      • Low monthly $4 fee or $40 annual

                      Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

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                      Available for: iOS and Android

                      10. Wallaby

                        Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                        Here are some of its main features:

                        • Automatic recommendations for the best credit card to use for each transaction
                        • A friendly user interface, displaying credit cards with their corresponding images
                        • Free to use

                        If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                        Available for: iOS and Android

                        Take control of your finances and experience financial freedom

                        Picture yourself staying on budget and saving more money than you’d ever imagined.

                        It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                        You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                        Featured photo credit: Pexels via pexels.com

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