Category Archives: Income Creation

Earning With Your Creativity

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As we start the second half of 2014, I would like to encourage all of you to look at ways in which you can create your own income, instead of just depending on what a job income can provide. While you don’t have to run a full-time business, you can definitely try to earn extra cash in your spare time.

One way to start a profitable part-time enterprise is to use your creativity and natural abilities to provide a product or service for sale. Let’s look at some of the steps that are involved in tapping into your talents in order to generate more money.

Assess your skills

The first thing you need to do is take a comprehensive look at some of your talents that may currently be underutilised. Your God-given gifts are not limited to artistic leanings such as singing, dancing or painting. Very often, your natural tendencies or traits contain clues to very marketable skills. Continue reading Earning With Your Creativity →

Profiting From Helping People

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One strategy to generate extra income for yourself is to find ways to solve people’s challenging issues, and package your product or service appropriately to meet their needs. Most persons will be only too happy to pay for a well-needed solution to their painful problems.

However, there are occasions where you may have created the perfect answer for a difficulty faced by many people, but find that they are not as willing as you thought they would be to pay for it. This situation can be very frustrating for entrepreneurs who believe in the benefits of their offerings.

No profits for a problem-solver
There are several reasons why persons may be reluctant to give money for solutions to their problems. They may genuinely not be in a position to afford the product or service, no matter how useful it is. This is the case in the medical arena, as the high cost prohibits people for partaking in needed items. Continue reading Profiting From Helping People →

How to Earn More to Balance Your Budget

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Many people feel intimidated by the thought of having to do something outside of their regular job to create more cash to pay bills or save more for the future. However, like any other money skill, you can learn the simple steps that are required to generate income independent of your employer.

Preparing a comprehensive budget is the first step in the process of increasing your earnings, as you need to have a realistic target of how much money is required to meet your needs. You can download a budget at www.financiallysmart.org which will allow you to input all your bills and income sources.

After using your budget to calculate the exact amount of your shortfall of income over expenses, you need to break down that monthly amount into a weekly or daily figure that will be easier for you to work with. Therefore, if your monthly deficit is J$24,000, your daily income need would be about J$800. Continue reading How to Earn More to Balance Your Budget →

When Your Budget Goes Awry

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Caroline looked at the Excel spreadsheet on her computer with increasing dismay. “Just three months ago I was able to balance my budget, but now I’m short again by over J$15,000,” she grumbled to herself. “No matter how hard I try, I just can’t seem to keep up with my expenses.”

She reflected on all the developments that had occurred in her life in the preceding months. Her grandmother, with whom she was raised, had fallen seriously ill. As her only relative, Caroline had taken on the task of caring for her, which had thrown her once tightly controlled budget into disorder.

Having another person in the house meant increased utility costs, and she needed to hire a housekeeper to help with the extra cleaning needs. In addition, she had to buy her grandmother’s costly medicines and pay for her doctors’ appointments without the benefit of health insurance coverage.

Initially, Caroline used her credit card to cover some of the pharmacy bills, but after two months she realised that she was having challenges clearing the card balance. After consolidating several loans over a year ago, she was now desperately worried that she was headed back into debt problems. Continue reading When Your Budget Goes Awry →

How to lose your fear of selling

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As another ‘past-due’ bill arrives in the mail, you finally accept that you need to increase your income. Although you know that you should start selling something in your spare time to generate extra cash, you’re terrified at the thought of asking people to purchase something from you.

You overlook your forebodings and bake a batch of cupcakes that you hope to sell at your office. You timidly ask a co-worker to support your venture, but she declines because she is watching her weight. You decide to give away the rest of your inventory, resolving that selling is not your forte.

One of the complaints I get from people who wish to make more money is that they dislike the process of selling. They may say that they are not natural salespersons or that selling is too hard. If you feel apprehensive at the prospect of asking for money, you may think that you hate to sell. Continue reading How to lose your fear of selling →

How To Motivate Yourself to Sell

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“You wrote recently about the importance of creating your own income. I agree, yet I find it almost impossible to proceed as I just don’t know how to sell anything. I have no motivation to make the effort to make the extra money I need, because I feel like I would be a total failure at it. How can I overcome this problem?”

Earning an independent income is vital for goal achievement; and selling is an integral part of this process. For some persons, the thought of selling is as welcome as going to the dentist with a cavity. However, you must conquer your anxieties to fix an ailing tooth; and if you really want to realise your financial dreams, you have to overcome your resistance to doing sales.

One reason that may demotivate many persons from trying something new, like selling, is that they lack confidence. The good news is that sales, like any other life or business skill, can be learned. There are simple, repeatable steps that novices can take, which will help them to improve their techniques and eventually excel at the task of selling. Continue reading How To Motivate Yourself to Sell →

More Money: Finding Earning Opportunities

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Most people will agree that having more money is essential, but many will admit that they don’t know where to find opportunities to earn from their own efforts. Our education system does not really put much emphasis on self-employment and entrepreneurship; so many graduates leave school with a dependence on external sources to generate an income.

Our columns for this month have been dedicated to helping you understand what you need to do to increase your earning potential by creating your own sources of income. If you are going to survive and succeed in these challenging economic times, you will need to focus a lot of your attention on making extra money in your spare time.

This week, let’s look at some simple strategies that can help you to identify and take advantage of various opportunities to create your own income. Continue reading More Money: Finding Earning Opportunities →

What does it take to earn more?

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Last week we looked at the importance of placing a value on your work effort. Most employees are constrained by the amount of money that their jobs will pay them, as their work value is dictated by someone else. To earn enough money to fulfil your goals, you need to create your own avenue of earning where you can determine the true worth of your work time.

Over the years, I have recognised that many persons only wish to have the end result of having more money, but are not really prepared to put in the necessary work to get it done. Before you can enjoy the fruits of success, you have to be willing to do whatever it takes to generate a consistent and worthwhile income source.

You must understand that positive changes will not occur in your life if you simply continue along the same pathway that you are on today. If you wish to generate additional funds to build your financial future instead of just living from pay cheque to pay cheque, you have to be willing to make some big sacrifices and do things differently. Continue reading What does it take to earn more? →

What is Your Work Really Worth?

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Our focus for this month is all about finding extra income sources that will give you the ability to save towards your financial goals. It’s not enough to just have a clear and specific dream that you are passionate about; you also need to identify exactly where and how you are going to create additional income to invest in your plans.

Last week we set a challenge that was especially directed at employees and anyone who believes that a job is the only way that they can earn. Your mission is to find a product or service that creates values for customers, and offer it to your friends, family and colleagues for profit. The objective is for you to get accustomed to making money from your own efforts.

With the current economic challenges, most people have few opportunities to increase their on-the-job income. Those who are fortunate to get a raise or bonus will find that inflation eventually eats away at the extra earnings they make. If you are determined to have enough money to improve your standard of living and attain your dreams, then you need to look within. Continue reading What is Your Work Really Worth? →

Money Mission: Earn Your Own Income

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The goal-achievement race is more like a marathon than a quick sprint; unless you continually focus on the finish line, you might get discouraged by the long journey and give up along the way. Our Money Mission columns are aimed at challenging you to accomplish a specific task each month that will help you persevere with your dreams.

Previously, we addressed two of the stumbling blocks that can prevent persons from making progress on their plans – procrastination and the inefficient use of time. Another major drawback that many people face in their quest to attain their goals is that they don’t earn enough money to save for important financial objectives such as buying a home or retirement.

Independent earning is important

The reality is that with the rising cost of living and the inability of most employers to pay increased salaries, you will have to change your outlook on earning if you want to have more money. You can no longer expect a job to supply you with all the income you need to create your desired lifestyle; you have to learn how to generate other sources of earning from your own efforts. Continue reading Money Mission: Earn Your Own Income →