Here’s How I Make an Extra $200/Month on Etsy — Without Making Anything

Unless you’re a crafter or vintage item dealer, you’ve probably never considered selling on Etsy.

Traditionally, items sold on Etsy have to be either handmade or vintage. But if you sell tools or supplies to make things, neither of those requirements apply.

I made an extra $200 last month selling needlecraft patterns, kits and supplies on Etsy — and my numbers are growing every month.

Here’s what I’ve learned, so you can do the same.

Figure Out How to Sell on Etsy By Finding Your Niche

Cross-stitch is a hobby of mine, but selling completed cross-stitch projects isn’t a moneymaker.

Why?

When you consider how long it takes to finish one piece, you’ll never be able to earn a decent hourly rate.

However, because I love to cross-stitch and am active in needlecrafting social media communities, I know the types of kits and patterns needlecrafters want.

I regularly shop at local thrift stores, purchasing kits and patterns for a few bucks each.

Then I mark them up anywhere from 400% to 1,200% and sell them in my Etsy shop. I opened my shop in August and had earned more than $600 by the end of December.

Needlecraft kits and patterns are rarely expensive at thrift shops. In fact, I seem to have little (if any) competition for them. Most of the kits I find are from the 1970s or 80s and still sealed in the original packaging.

Needlecraft is enjoying a renaissance right now.

When an older person passes away, family members see a stash of old needlecraft supplies, assume it’s junk and toss it in a donation box.

Some of it is junk, but some are vintage or out-of-print patterns and can be sold for anywhere from $20 to $100. Not a bad markup for something I typically buy for less than a dollar!

Buy Cheap

Needlecraft patterns and kits already are inexpensive at thrift stores.

But to make the biggest profit, I’m a bargain shopper — even when I’m thrifting.

I know which stores near me have half-off days. I also sign up for their email lists or follow them on Facebook to regularly receive 20% coupons.

Get to know your local stores so you’ll know how to get the best deal.

How to List Your Products on Etsy

Etsy charges 20 cents to list an item for four months. Plus, it gets 3.5% of the selling price, which is pretty competitive compared to Amazon and eBay seller fees.

Etsy is a big marketplace, so if you want buyers to find your items, there are a few things you’ll need to do.

Post Good Photos with Your Etsy Listings

When people shop online, they can’t pick up the item to feel its materials and textures.

Etsy listings allow you to add up to five photos per listing. Use them all — and take the best, well-lit photos you can.

Etsy has several articles about taking killer photos in its seller handbook.

Before you take the photo, spend a few minutes cleaning up the item. Remove sticker residue and any dust.

Use Photoshop to brighten the photos a bit. Be honest about the condition of the item, but present it in the best light possible.

Write Great Descriptions for Your Listings

Again, your customers can’t inspect products in person, so your description should tell a story, as well as provide useful information.

Buyers want to know the stitch count, size of the finished project and the materials required. If there’s an interesting story behind the design, share that, too!

Use Effective Keywords

Etsy gives you space for thirteen keywords.

Use them all.

Don’t just use generic keywords like “cross-stitch” or “needlecraft.” An Etsy search for the term “cross-stitch” reveals nearly 160,000 products.

Think of a term someone would use to find your specific product.

If you’re selling a vintage car needlework kit, use “vintage car cross-stitch.” A search for that term leads to fewer than 100 products for the buyer to explore. That’s much more manageable.

Share, Share, Share

Unless you’re a cross-stitch lover, you’d never know about the huge cross-stitch community on Instagram. I set up an account specific to my Etsy shop and regularly share projects I’m working on, as well as interesting pieces I’ve listed for sale.

I definitely see a spike in Etsy shop views when I post photos of the kits I’m listing. I also pin new listings to Pinterest and share them on Twitter.

I’ve even had people send me private messages, letting me know what kinds of kits they’re looking for so I can keep an eye out while I’m thrifting.

How Much Can You Make If You Sell on Etsy?

The average needlecraft kit may sell for between $8 and $15, but I often come across rare, vintage kits and patterns that sell for $25 or more.

My shop’s sales started out pretty modest, but as I’ve added items to my shop and gained social media followers, my sales have grown steadily each month.

I’m not going to be able to quit my day job any time soon, but I‘ve been able to make a profit from something I love doing, and it doesn’t get better than that.

Your Turn: Will you start an Etsy shop for your craft hobby?

Janet Berry-Johnson is a Certified Public Accountant and a freelance writer. Her work has appeared on Scottsdale Moms Blog, Forbes and BonBon Break.

The post Here’s How I Make an Extra $200/Month on Etsy — Without Making Anything appeared first on The Penny Hoarder.

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From Rags to Riches to Rags Again: 21 Lottery Winners Who Lost Everything

When I was a repo man, one of my more unusual assignments was repossessing a Cadillac from a recent $1 million lottery winner.

While investigating to determine where the vehicle was hidden, I learned that when the annual lottery checks arrived she quickly spent them partying, leaving her without enough to make her car payments. One night, I drove her car away while she slept.

It’s tough to say how often lottery wins have happier endings. Given the many national lotteries around the world and the 44 state lotteries in the U.S., there have probably been thousands of $1 million-plus winners, and some of them must responsibly manage their winnings.

But sadly, some lottery winners lose it all very quickly.

It’s too easy to find one tragic real-life case after another. Here are 21 of the worst. And what if you win big in the lottery someday? What mistakes should you avoid? The lessons are pretty clear, and they’re right there in the stories if you pay attention.

1. A Typical Story?

Lisa Arcand won $1 million in the Massachusetts lottery in 2004. She bought a house and went on vacations like many winners.

Of course, a million dollars isn’t much after taxes, so she also opened a restaurant to make some additional income. Sadly, within a few years she ran out of money and closed the failing restaurant. In 2007, she said of her lottery experience, “Actually, it’s been very depressing.”

2. From Millionaire to Factory Worker

Michael Carroll was a garbage man in England when, at age 19, he won £9.7 million (about $14.4 million at the time) in the lottery in 2002. A mansion, drugs and gold jewelry ate up the money quickly.

By 2012, Carroll was broke and living off unemployment checks. Now he works on an assembly line in a cookie factory, making £204 (about $300) per week.

3. Party Down… and Down, and Down

Gerald Muswagon, of Winnipeg, Manitoba, won $10 million in 1998. He bought cars for friends and family, and made his new house into a “party pad.”

Eventually, he’d spent all his money and he took a minimum-wage job to support his six children and his girlfriend. In 2005, just seven years after his big win, he took his own life.

4. Generous to a Fault

Janite Lee won $18 million in 1993. Although her gambling habit reportedly cost her more than $300,000 per year, she may have spent more on charitable and political donations. Her generosity included $1 million for Washington University to build a new library. In 2001, she filed for bankruptcy.

5. Millionaire or Murderer?

Willie Hurt won $3.1 million in the Michigan lottery in 1989. The money didn’t last long. Within two years Hurt wrecked his marriage, lost custody of his kids and was charged with attempted murder. He spent his winnings on his divorce and drugs, according to his attorney.

6. Big Winner Goes Deep in Debt

Suzanne Mullins won $4.2 million in 1993 in the Virginia lottery. She split the prize with her husband and was supposed to receive 20 annual after-tax payments of $47,778.

But when money got tight, she borrowed from a company that lends cash to lottery winners. In 2000, the lottery rules changed, allowing Mullins to collect the rest of her money all at once. She apparently spent the money rather than pay back what she owed to the lottery lender, and in 2004 a court ruled she still owed the company $154,147.

7. $31 Million Gone in Two Years

Billie Bob Harrell Jr. won $31 million in the Lotto Texas game in 1997, and he no longer had to stock shelves at Home Depot.

He bought a ranch and a few homes, gave money to his church and made loans to friends. Everyone wanted a piece of his money, and soon his marriage was in trouble as he lent and spent all of his winnings. In 1999, less than two years after his big win, Harrell took his own life.

8. Big Spending

Sharon Tirabassi, of Hamilton, Ontario, won $10.5 million in 2004. She treated friends to vacations in Cancun, Las Vegas, California, Florida and the Caribbean. She got married and bought a house for $515,000 — and got a $360,000 mortgage loan rather than paying all cash. She bought numerous cars, including one that cost more than $200,000, and gave millions of dollars to family and friends.

By 2007, half of her money was gone. By 2008, with her husband in jail for a DUI, Tiribassi lost their home. Now, to pay the rent and support her kids, she takes the bus to her part-time job.

9. Living for the Moment

Lou Eisenberg won $5 million in 1981, which at the time was the largest lottery win ever. After taxes, he received payments of $120,000 annually for 20 years. He bought a condo in Florida, took trips to Europe and Hawaii, and gambled. He also gave cash to whoever he figured needed it. Of his spending, he says, “I lived for the day.”

Shortly after cashing his last check in 2001, Eisenberg was broke. Now 81 years old, he lives in a mobile home on social security and pension income that amounts to about $1,000 a month.

10. Elderly Lottery Winner Looking for a Job

Vivian Nicholson, of Castleford, England, won £152,300 in 1961, the equivalent of about £3 million today ($4.5 million). She famously vowed to “spend, spend, spend!” She bought expensive designer dresses, vacations, and a new car every six months.

By the 1970s, Nicholson was broke. In 1998, she received money from “Spend, Spend, Spend,” a musical about her life, and spent it all quickly. By 2007, at age 71, she was living on a pension of £87 weekly ($131), and was looking for a job. After sending out 25 resumes, she still hadn’t found one.

11. Karmic Lottery Loss

Denise Rossi won $1.3 million in the California Lottery in 1996. But instead of telling her husband of 25 years — who thought they were happily married — she asked for a divorce, and said she wanted it done quickly.

Soon after the divorce, Rossi’s ex-husband discovered her deception. In 1999, a judge determined that she had broken asset disclosure laws, and he awarded her husband every penny of her winnings.

12. “Nightmares”

William “Bud” Post won $16.2 million in 1993, and five years later said, “Everybody dreams of winning money, but nobody realizes the nightmares that come out of the woodwork, or the problems.”

Post’s brother tried to hire someone to kill him and his wife. A landlady forced him to give her a third of his winnings. He was convicted of assault for firing a shotgun at a bill collector, and for passing bad checks. He declared bankruptcy. When Post died in 2006, he left behind little or nothing for his seventh wife and the nine children he had with his sixth wife.

13. Killed for His Money?

Urooj Khan won $1 million in the Illinois lottery in 2012, and opted for the lump-sum payout of $424,500 instead of annual payments. He planned to use the money to expand his dry-cleaning business.

Sadly, Khan died less than a month after winning, the day after his check was mailed. While his death was ruled natural at first, a test later revealed that he had been poisoned with cyanide. The police have not named a suspect, and a subsequent autopsy revealed nothing more.

14. Another Lottery Winner Poisoned

Ibi Roncailoli won a $5 million Lotto prize in 1991, in Ontario, Canada. Soon afterward, she gave $2 million of her winnings to a child she had secretly had with a man who was not her husband.

When her husband, gynecologist Joseph Roncailoli, discovered the truth, he poisoned his wife. He went to jail for manslaughter, but not before reportedly asking Ibi’s family for help in paying for her funeral.

15. Two Lottery Wins, Very Little Money

Evelyn Adams won the New Jersey lottery twice, in 2005 and 2006, collecting $5.4 million in total. Spending sprees, bad investments, gifts to family and a gambling habit all helped her get rid of the money quickly.

16. Defrauded by a Friend

Marva Wilson won $2 million in the Missouri lottery in 2012. Freya Pearson, whom Marva considered a friend, tricked her into giving Pearson unrestricted access to her bank account.

Pearson used the money to travel, gamble and buy cars and an apartment, spending more than $640,000 of Wilson’s winnings. Just two years after cashing in her winning ticket, Wilson was broke.

17. Tax Fraud and Other Problems

Alex Toth won $13 million in the Florida lottery in 1990. He lived well for a few years, then went broke, split up with his wife, got in trouble for filing false tax returns and spent some time in a mental institution. He avoided going to trial for the tax fraud charges by dying, penniless, at age 60 in 2008.

18. Yet Another Lottery Divorce

Lara and Robert Griffith won £1.8 million ($2.7 million) in the Lotto in 2005. They bought a home for £670,000 ($1 million), along with a Lexus 4×4 and a Porsche convertible. Robert paid for his band to have a record made, and Lara splurged on designer handbags. They set up a beauty salon business.

Then, six years later, Roger disappeared with the Porsche and Lara discovered suspicious emails on his computer. He denied having an affair, but the marriage ended, the money was gone and now Lara is an employee at the salon they used to own.

19. Too Young to Win?

Callie Rogers is perhaps the youngest big lottery winner. At age 16, she won £1.9million ($2.9 million) in 2003. Her winnings went toward cosmetic surgery, drugs and partying. She says she attempted suicide three times.

Now married and a mother of three, she has only £2,000 ($3,000) left in the bank, but says she is finally happy. She says of the experience, “I was too young to win the lottery — I don’t think 16-year-olds should be eligible.”

20. A $27 Million Spending Spree

David Lee Edwards split a $280 million Powerball jackpot with three others, a win that came while he was unemployed and living in his parents’ basement. After taxes, he received a lump sum of $27 million. He bought a $600,000 house, a $1 million fleet of cars, a $78,000 watch, a $1.9 million jet, 200 swords and other medieval weapons, and a $4.5 million fiber-optics installation company. He also married a woman 19 years younger than he was.

Within a year, he had spent $12 million. The house was soon lost to foreclosure, his wife was arrested for stabbing a boyfriend, and David died at age 58 in 2013.

21. A Millionaire Wins the Lottery

Jack Whittaker was already a millionaire when, on Christmas of 2002, he won $314.9 million, the biggest single-person lottery win in history. He opted for a lump-sum payment, which after taxes, left him with $93 million. His contracting business, which employed over 100 people, provided a great living, but his humble lifestyle meant few people knew how much he made. The lottery winnings were apparently a different kind of income.

Whittaker spent money at strip clubs and casinos. He gave millions to charities. His habit of leaving cash in his car resulted in thefts of $545,000 one time and $100,000 another, and his house was robbed. He showered gifts and cash on his beloved 16-year-old granddaughter, who spent much of the money on drugs. A year later, she was found, apparently murdered.

Whittaker rarely speaks to the press now, and some reports say he is broke. When asked if life was easier before his big win, he said, “Yeah, it was a lot easier then.”

Your Turn: What would you do if you won a big lottery prize? Do you think you would be better off than these winners after ten or fifteen years?

Steve Gillman is the author of, “101 Weird Ways to Make Money” and creator of EveryWayToMakeMoney.com. Of the more than 100 ways he has personally made money, writing is his favorite (so far).

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The Beginner’s Guide to Optimizing for Bing Search

On the surface, it doesn’t appear Bing gets much search traffic, but when you consider it also powers Yahoo, you start realizing that perhaps optimizing for Bing isn’t such a bad idea.

Here’s what Bing and Yahoo’s search traffic looks like compared to Google’s:

Although even combined, they still represent a fraction of Google’s search traffic, that’s still a large audience that should be catered to.

Optimizing for Bing differs a little bit from optimizing for Google. The companies use different proprietary algorithms to produce results, and each weighs various factors differently.

Because Google is the largest search engine on the planet, most SEO guides focus specifically on how to rank for Google. This guide is meant to get you started with the competition, both Bing and Yahoo, which are powered by Bing’s search engine.

1. Claim your business

Just like on Google, you need to claim your business on both Bing and Yahoo to maximize local search results.

To do this, you need to visit Bing Places for Business and create or claim ownership over your business listing.

Yahoo’s local business search results utilize Bing’s business listings instead of its own, which show up as local business listings on a site called Yext. Eric Shanfelt does a great job explaining the complicated business structure Yahoo employs to deliver local business listings here—if you’re interested.

Still, you can register on Yext, instructions for which are included in Shanfelt’s blog.

Once you’ve registered your business with Bing, you’ll need to register your website the same way you did when registering it with Google, by indexing your site.

2. Get your site indexed

Since Bing is now in the driver’s seat, Bing’s Webmaster Tools replaced Yahoo Webmaster Tools, so you have to submit your site to only one place for both search engines.

Here’s what it looks like:

First, you need to create a Bing login. You can use your Outlook (Hotmail if you’re grandfathered in from those days) or Microsoft login to do that.

Then, you can visit the Bing Website Submission page and fill out the forms as shown above to submit your website.

You’ll also need the URL address for the XML sitemap of your site.

Then, you need to verify ownership by copying and pasting the provided code into the proper section of WordPress.

Like anything Microsoft, Bing has an extensive set of instructions on how to do this on the Bing website.

Once you have everything registered, you should be indexed within a few minutes and start noticing traffic trickling in by the end of the year.

3. Tag and categorize your site

Like with any other search engine, tags and categories help make your content discoverable to the right audiences for the right searches.

WordPress makes adding tags and categories easy for each post and page created. These vital labels tell both robotic algorithms and human readers what to expect from the post, much like a title or header would.

Here’s what WordPress’s Tags and Categories look like:

Both the slug and description of a tag help further explain the content’s purpose. These are signals used in sitemaps to identify sections. It’s helpful for search engines to identify content in order to deliver appropriate ad experiences through their platforms.

Of all the SEO tips and tricks, tags and categories are the most important as they give the overall picture of what your website is really about. Without them, bounce rates go up and organic search traffic goes down.

4. Use SEO keywords in proper context

The usage of relevant keywords has proven an important search ranking factor in search engines across the board, and Bing is no different. Here’s a chart of how Bing and Google compare to each other when it comes to keywords:

While factors such as internal links are less important in Bing than Google, relevant, contextual keywords are still vital. This is why blogging is one of the most widely used forms of content marketing in the business world today.

Hire a professional ghostwriter or copywriter to ensure each page of your website is fully optimized with marketing slogans and other ad copy that gives descriptive information around the keywords you want to focus on.

For example, in the vaping industry, you’d want to describe features of your mechanical mod boxes so search engines understand what traffic to send your way.

Bing’s algorithms, like Google’s, take the surrounding 5-7 words for each keyword along with its density within the content into account when determining search rankings. You can’t just spam “Vape vape vape vape” to rank for vape products.

You need to offer “ejuice, mods, wicks, tanks, and other accessories” to really make an impact.

5. Connect to social networks

Another method you should be using to help drive Bing search results is integrating social media into your SEO strategy. This merging of social media and SEO is practiced successfully by 74 percent of marketing departments already.

To link social media accounts to WordPress, you need the Jetpack plugin, which is typically installed by default in managed WordPress sites hosted by providers such as GoDaddy. But it can also be installed manually. Search for it in WordPress plugins or find it on the WordPress website.

With Jetpack installed, you can link your social media accounts—Facebook, LinkedIn, Twitter, Tumblr, and more—to your blog to ensure every post is automatically promoted on those sites with backlinks.

Here’s what it looks like:

Marketers often debate the importance of social signals in search engine rankings, despite the fact that several studies showed they do affect search results.

In Bing specifically, results viewed by your Facebook friends will often be featured in SERPs.

Whether or not it specifically helps Bing search results doesn’t matter. Why? Because social networks have large audiences you need to be in front of anyway.

Here’s a breakdown of the number of active social media users on each social platform:

Whether you use social media marketing for improving your search results or not, understanding that these two aspects of your online presence go hand-in-hand is the most important takeaway.

6. Avoid black-hat techniques

As you well know, there are black-hat and white-hat SEO techniques. Black-hat techniques are tactics that, while may work, violate the search engine’s terms of usage and can get your website banned. White-hat techniques both work and follow the rules.

Don’t use black-hat SEO techniques on Bing as it’s not worth the risk.

These include keyword spamming, creating fake sites, and more. Here’s a chart of black-hat SEO tactics to avoid:

These black-hat SEO techniques may sound like a good idea on paper, but they’re not sustainable. JC Penney was infamously removed from Google temporarily after being found using black-hat techniques by the NY Times.

Bing is no different. If your site is found to be using black-hat SEO, there’s a good chance you’ll be removed from the index and lose all the time and effort you put into building your rankings.

On Bing, this removal is especially problematic as the age of a website is a ranking factor that isn’t weighed heavily on Google. Sites that stay up longer are more likely to have results presented at the top of Bing SERPs, so a ban can be detrimental to Bing searches.

7. Feature great content

According to Search Engine Land, using a search engine is the most popular first action a customer takes before making a web-based purchase.

If you want to be featured in those results, you’ll need great content to draw organic search traffic.

Bing especially looks at content quality, which is defined as authority, utility, and presentation. All web content needs to satisfy this trifecta to have a fighting chance to be the top Bing search result.

Content is king online, and to reign supreme on Bing, you need quality content to satisfy its strict requirements.

As laid out by Buffer, the ideal blog length is 1,600 words, which takes the average person about 7 minutes to digest and move on.

Each blog post you create for your website needs to be approximately 1,600 words of quality content to maximize your chances on Bing and Yahoo. This means it has to be well-researched, well-sourced, and well-cited, and it needs to include lots of great images.

If the quality of your content isn’t up to this standard, you’re basically wasting your time as you’re unlikely to rank well on Bing.

Conclusion

Although they may not draw the online traffic of Google, Bing and Yahoo combined are still a powerful search option used by people around the world.

Reaching this demographic requires focusing on contextual keywords and proper formatting. Users of Yahoo and Bing have been found to be more educated and make more money, so it’s the perfect place for businesses to reach their audiences.

Unlike Google, Bing traffic is more heavily influenced by Facebook, contextual keywords, and ad-free experiences. Site age is another important factor, so it can take time to build traffic on the search engine.

Have you had success ranking websites on Bing? What advanced strategies did you use to accomplish it?

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Should I Get a Second Job? Consider These Hidden Costs First

If you’re short on cash and long on bills, getting a second job probably seems like the best solution. You put in a few extra hours each week and earn some extra cash… how hard could it be?

About 5% of Americans have a second job. We’re having it all, right?!

But making a considerable income from a second job is tougher than it sounds, not just in terms of your body and mind, but when it comes to your wallet, too.

If you’re committing to hustling for that second paycheck, I commend you.

Here’s what to watch out for, and how to make your efforts worthwhile.

The Worst Part-Time Job I Ever Had

After graduating from college, I was lucky to get a full-time job with a decent salary — but it wasn’t enough to cover my car insurance, personal debt, student loans and my other costs, like rent and groceries.

The idea of paying the minimum on my debt for the next umpteen years made my stomach turn.

My roommate and I lived modestly, but I still felt desperate to take on a second job to close the gap between what I was making and what I needed to truly make ends meet.

I had retail experience, so I searched for clothing stores seeking sales associates. I was lucky to get an interview — and then a job offer — from a sister store of a chain I had already worked at in college. I would be folding solid-color T-shirts during all my nights and weekends.

My hourly rate was $9.25, which checks out with typical retail wages for the year 2009. I worked between 12 and 15 hours each week, usually three or four hours in the evening followed by one weekend shift of six to eight hours.

I earned a commission on some sales, but it took some time to actually see that cash on my paycheck — and if a customer returned their items, you lost your commission on that sale.

In a typical week, I worked 12 hours at my second job and earned $111 before taxes.

I earned bonuses less frequently than typical pay, but they averaged out to about $5 per paycheck because I was not good at upselling. They were also taxed separately, so I’m going to leave them out of the equation.

How All My Money From my Second Job Went Away (Sort Of)

Let’s subtract taxes!

In place of my pay stubs, which I’m sure I shredded about three moves ago, I used a take-home pay calculator. In 2009, I lived in Maryland and had one federal exemption as a single lady.

Social Security, Medicare and state income tax added up to $12.38 — so more than an hour of work went straight to taxes. My weekly gross pay of $111 turned into a net pay of $98.62 per week.

Let’s keep subtracting.

I had to drive to work, four miles each way. If I worked four days in one week, I drove a total of 32 miles.

Gas cost about $2.20 per gallon that summer and a gallon covered me for about 20 miles. This meant I spent an extra $3.52 at the pump each week to make sure I was covered for those trips.

I’m down to $95.10 for 12 hours of work.

Then there’s the food. When you’re working about 12 hours per day between two jobs, when do you have time to eat, let alone cook?

I relied on frozen microwave meals, at an average price of $3 each. I’d gobble down four of these each week for dinner, while leftovers and PB&J sandwiches made up my typical lunches.

$95.10 – $12 for easy meals = $83.10 earned per week.

Here’s Some Extra Spending I’m Not Proud of

Then there was my caffeine habit. I know, this isn’t a fun one to admit, because every money-saving book out there starts with cutting your latte habit.

But I had a weakness for Frappucinos. And during a long shift, a Frappucino really hit the spot.

Let’s subtract $8 per week for two trips to Starbucks, which I counted as a little perk that made my life better when I was feeling dead on my feet.

I’m down to $75.10 for 12 hours of work. That means I only actually profited $6.26 per hour from my second job.

Look, my life was still pretty easy. I went from my comfortable office job to my relatively calm retail job without having to ride public transit for an hour each way. I didn’t have to work crazy late-night shifts, or get asked to work late at the last minute.

It was tiresome, sure, but it was a routine I settled into well enough. That $75.10 added up, week after week, and the extra $300 I earned each month paid all the expenses for my car, from insurance to gas to tune-ups.

Wondering, “Should I Get a Second Job?”

If you’re feeling desperate and want to pick up a second (or third, or fourth) job, here are five practical tips for doing it right.

1. Get a Job as Close to Home as Possible

It might mean a less-cushy gig — maybe making movie theater popcorn instead of selling handbags — but a short commute will make juggling two jobs a lot less stressful.

Remember, you’ll need to leave your day job with extra time to battle rush-hour traffic.

2. Don’t Go Bonkers on Your Second-Job Wardrobe

An employee discount at your new job might be tempting, but you’d be better off stocking up on black pants and solid-color polo shirts at the thrift store.

If you’re required to wear a certain shirt or other uniform component, you may have to pay for it at work.

But if it’s a matter of wearing a certain kind of “regular” clothes you don’t already own, go the cheapest route you can.

3. Avoid “Money Leaks”

“Don’t squander your additional paycheck by adding in money leaks like extra meals out or runs to Starbucks to make up for added stress,” David Galloway explains on Lifehacker. Where was this guy to look over my shoulder in 2009?

“Sure, you might feel you deserve it, but you’re working multiple jobs to achieve a goal and these little money leaks add up to keep you away from becoming debt-free, buying a house or going into early retirement,” he writes.

4. Plan Ahead to Make the Most of Your Money

It might mean less time with your friends and more time in the kitchen on Sunday nights to prep meals for the week.

But any extra money you can avoid spending around your second job means more money in your pocket, even if it’s just a little bit.

5. Don’t Lose Your Mind

Looking at your schedule for the week or month might make you want to cry. You might actually cry.

But think of your second job as a short-term solution, not something you’ll have to do for the rest of your life.

Give yourself a time goal, whether it’s a year or three years, and then get out if you can afford it.

And then, figure out what you’ll do with all your free time.

Your Turn: Have you ever lost money working a second job? What are your tips for saving money while you’re moonlighting?

Lisa Rowan is a writer and producer at The Penny Hoarder. She’s always had at least two jobs. Old habits die hard.

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Questions About Re-enlistment, Social Investing, Lasagna, and More!

What’s inside? Here are the questions answered in today’s reader mailbag, boiled down to summaries of five or fewer words. Click on the number to jump straight down to the question.
1. Budgeting on non-monthly cycle
2. To re-enlist or not?
3. Socially aware investing
4. Credit card as emergency fund
5. Low salary offer
6. Endless road to better investments
7. Low interest loan payoff?
8. Staying with company long term
9. Cooking lasagna from frozen
10. Used camping gear
11. Borrowing money to invest
12. Lying about job to family

Most days when I am writing, our family dog is curled up right on top of my feet. He’s a little Yorkshire terrier and Maltese mix who is extremely playful during his waking hours but seems to sleep about sixteen to eighteen hours a day. During the day, when I’m working, he sleeps, but then he’s full of boundless energy in the afternoons.

I was very apprehensive about having a pet, but I agreed with my wife that it would be a good experience for our children, so we selected this little guy based on his reputation for being a great family dog. He’s been that and then some – the only complaint I have at all is that he likes to bark at other dogs when he sees them, to an almost comedic extent.

Plus, he has the added benefit of being very warm on my toes on a cold winter day.

Q1: Budgeting on non-monthly cycle

I am looking around for budgeting and home financial software to help simplify our households finances. However one of the largest problems I keep coming across is is there seems to be no “fit all” solution for us.

For starters, a little bit of information about how we currently handle budgeting. At this time our family (me, my life-mate, and our toddler) live on a single income. I am the only worker (software engineer for banking software funny enough) , but I make enough to support our entire household and still make savings for retirement and emergencies as well as our hobbies, etc. She has little interest in managing the overall finances and is fine with just knowing what we have available for general spending and obviously being kept in the loop and decision making of any large purchases. In the end we keep 2 sets of accounts, one primary checking/savings accounts that are used for the households expenses and bills and our overall savings for the household, and the other is for her own discretionary spending.

I would eventually like her to be more involved (or at least more aware) in the details of our household finances. But please make no mistake, she is financially conscious and knows her own strengths and weaknesses when it comes to spending. In part I recognize its why we carry the setup we have. I myself have a similar issue to her as when I see larger numbers its super tempting to just say “we have $X, we can afford Y frivious thing”. Which finally brings us about to how I currently have our budgeting set up.

Our checking account regularly carries 1 paycheck plus a small buffer plus any holdover for large bills/expenses (mortgage, cell phones, upcoming insurance, etc). On a general level we budget from paycheck to paycheck (moving savings and excess leftovers from previous paycheck on payday first), effectively tricking ourselves to acting like we are living paycheck to paycheck. I have attempted to do the whole “keep a months worth in checking and budget over the month”, but I find I always have less at the end of the month than I would otherwise. In other words it just doesn’t naturally flow for us. We find it easier to keep track of less fixed things (like groceries and gas) in more human immediate terms. leftovers in these categories usually wind up in savings come next payday or sometimes will be treated as a “small windfall” for a short term splurge depending on our overall needs and finances at the time.

However nearly all financial software that I have looked at so far operates on this basic concept. Budget for the whole month only. Those that allow interruption of this rule do so only on a day by day basis. In other words its harder to view our budgets in a paycheck to paycheck basis that works so well for us. At this time I’m using a spreadsheet, but I work in linux and my life-mate plays in windows (remember my overall goal is to make this stuff more accessible to her). We both use android phones, but neither feel comfortable tying any software to our bank accounts. I’m fine with importing data mind you.

Do you have any recommendations of software that already exists? I have contemplated writing it myself (as its well within my capacities to do), however that is a serious time sink. Not to mention distributing it at all while working for my current company would violate a non-compete disclosure and open me up to other issues (I’ve already discussed this with my employer).
– Stephen

The reason personal finance software generally operates in a monthly format is that the billing cycle of most companies is a monthly one. People receive monthly cell phone bills, internet bills, electric bills, credit card bills, and so on. If you operate on a non-monthly cycle, then those bills all become irregular bills.

In other words, the context of personal finance packages is on the handful of normal monthly bills people receive, not on the cycle of their paychecks.

There aren’t any software packages I know of that run on a non-monthly cycle for that reason. The closest I’ve found to non-monthly cycles is through using forecasting in software like Quicken and You Need a Budget. Forecasting basically allows you to input the repeating pattern of your bills and your income and so you can look at the approximate state of things moving forward.

Q2: To re-enlist or not?

A little background on me. I am 31, single and have served on active duty for 6 years. I grew up very modest and have never had a very good relationship with money. I have managed to save about 35K and have recently starting putting money into the TSP (about 6K). I love my job, but it is physically and mentally draining. My brain tells me to stick it out for the full 20 years to get to retirement, but i’m not sure my body is up to the challenge. I excercise regularly, but some days are so long that the energy to do anything physical outside of work just isn’t there. Additionally, if i left the military, i have no idea what i would do career wise. I kind of feel stuck. I have no debt (paid off 23K since enlisting) and have a dream of building a home in Texas one day. I guess what my question boils down to is… Is having a steady income to live comfortably worth physical and mental strain? I am facing the decision of re-enlistment soon and would love any advice or input from you.
– Jim

I’m of the belief that if your career path is bringing you so much daily misery that it overshadows the value of the destination, then you should consider a new career path. It sounds to me that your daily unhappiness is adding up to far more for you than the benefits of reaching the twenty year mark.

However, you shouldn’t change careers without some kind of a plan. What exactly would you do if you changed career paths? What would your new career be? What education would you need to get into that field? If you can’t come up with a good answer to those questions, you shouldn’t switch. You should never make a career leap into nothing.

So, my suggestion for you is to do some serious soul-searching before you have to re-enlist. Hit the library and pick up a copy of a good career guide like What Color Is Your Parachute? and see where it leads you. Take the exercises seriously. See if you can find something that clicks with your personality and skill set. If you can find something that matches you, then make a plan for switching to that career; if not, I’d probably just re-enlist.

Q3: Socially aware investing

I am fully invested with Vanguard, but I am troubled by their lack of socially responsible investment options. They have one only, a large cap fund that filters out guns, tobacco, and alcohol. But this leaves me profiting from companies that contribute to global warming. I am sick about it. There are many socially aware actively managed mutual funds, which are very expensive, tax inefficient, and sometimes have dubious socially aware filters and criteria. Can you weigh in on finding the balance between index investing and being socially responsible? I am a fan and I value your opinion.
– Kevin

There are a few major problems with the idea of socially aware investing.

First of all, the idea of socially aware investing means different things to different people. Do you consider it “socially aware” to invest in a health insurance company that doesn’t provide very good coverage for mental health conditions, even if their physical health is good? Some people wouldn’t worry about this, while others would. Is it “socially aware” to invest in a company whose primary profit motive is to encourage caffeine addiction in people?

Another big problem is in supply chains. Is it “socially aware” to invest in a company who has another company in its supply chain that has a history of chemical dumping? Sure, you might say that it’s not okay to do that, but how would you know what the behavior is of every single company in another company’s entire supply chain?

Issues like this go on and on and on. In short, I think it’s nearly impossible to find “ethically perfect” companies. Companies are collectives of individuals, and unless you completely agree with the ethics and values of everyone at that company that’s involved in decision making, that company is not going to be “perfect.”

In the end, I think that “socially aware investing” requires several things from an investor. It requires that you go through all of the social values that you hold and decide which ones are requirements for you to invest in. Then, you have to start evaluating individual companies, because it is very unlikely that you’re going to find a fund that filters things to match your particular set of values. The other option is to decide which values you’re willing to compromise on in terms of investing and then accept that a fund that matches your core values might compromise some of your secondary ones.

In other words, you either accept some compromises on your values and use a fund that’s made up of “ethically better than average” companies or else you do a ton of research on your own, invest in individual companies, and get closer to your values without ever quite getting there.

Q4: Credit card as emergency fund

Saw an article about emergency funds on your site. Why not just use a credit card and repay the bill quickly? Yea you’d have to pay back interest on a big emergency but then you wouldn’t be wasting money in savings.
– Charlie

The problem with this solution is that it doesn’t address credit card emergencies. What do you do in the case of identity theft? A lost or stolen wallet? A bank that decides to cut your credit limit at an inopportune moment?

Those situations leave you in a lurch where a credit card won’t save you.

In the end, cash is king. It solves problems that credit cards just can’t solve. Credit cards can handle a lot of emergencies, but there are quite a few emergencies where a card just isn’t going to help.

Q5: Low salary offer

I just graduated and received my first job offer in my field, which should be exciting except that the offer is for very low salary, even below the bottom of the range of normal salaries for my field in my area. While I can definitely make ends meet on this salary I am wondering whether I should ignore the offer or negotiate hard to get something in a range that’s in line with what my peers will be earning.
– Nate

Given that you’re an entry-level person in your field, I think it’s reasonable to be paid near the bottom end of the range of normal salaries upon your first job. However, outside the bottom of the bracket seems strange unless there are some extenuating circumstances.

Do you have a solid transcript? Is your field a competitive field? Is your employer one with a sterling reputation? Does this job offer a ton of opportunity for advancement? Those might be reasons to accept a bit lower salary than you otherwise would, but if those things are not true, then you should’t accept an offer outside the normal range.

What I would do is negotiate. Make a salary counteroffer that would put you in the lower end of the normal range and see how they respond to that. It’s likely that their offer does have some negotiating room, so take advantage of that and negotiate.

Q6: Endless road to better investments

I am a public educator and I work with a company for my 403b and a 457. I also work with another company for a Roth. (I am also trying to protect privacy. I don’t want to speak negatively about the financial companies or their representatives)

One company does not have a Roth and the other does not have a 457 thus the reason for working with both.

My question does not have to do with retirement readiness or questions as they pertain to how much one should invest, when to start, etc. I am a person who also tries to do research and reading on investing and I have read often about fees. I also try to take note of common themes or advice provided in the reading I do. One thing I often read (especially for someone like me) is to simply invest with Vanguard in index funds such as their target retirement fund years. The reading indicates that the fees are lower and over the long run this would be the most efficient way to fund.

I am about 2 years away from transitioning out of public education and my consideration/question is whether or not to move my Roth and my 403 to Vanguard and place in index funds. I am still 10 years away from even considering accessing my investments. The rationale for this is because of reduced fees.

Let me add one more thing: The only analogy I can give you that might help is this: A person wants to eat healthier so they start eating more vegetables. Then they hear that fresh is better than canned so they start to eat more fresh vegetables. Then they hear they should eat organic so they consider doing that …. Financially I read about all those folks who do not save enough, so you then start saving and then you read about more options (457, 401/403, Roth …. ) and then you start reading about fees …. So on the one hand I am proud of my savings. On the other hand should I be concerned about fees and with that said move to Vanguard.

Geez … so much for me being succinct. Sorry!! Let me know if any of that make sense.
– Tracy

The truth is that there is always going to be a better investment out there. You can keep looking and looking and looking forever, but you’ll soon reach a point where it becomes very hard to find a significantly better investment than where you’re currently at. Another problem is that investments never stay exactly the same. Expenses change over time, as does the relative quality of the investment. Investments that were near the top several years ago might not be there now, and new investments might appear that are near that top spot.

The reason Vanguard comes up is because of that search. While their offerings aren’t necessarily number one for each type of investment, they’re consistently very good in virtually every type of investment. Because of that, many people just use Vanguard as their “good enough and now I don’t have to think about it any more” investment option, which is a completely reasonable thing to do.

The point? Most of the initial steps in finding the “best” investment make a huge difference. Choosing to save at all is huge no matter what you choose to invest that money in. Choosing to jump from a below average investment to an above average one is a pretty big step, too.

However, when you start spending time comparing investments that are just barely different from one another, you’re going to have to have a lot of money invested to make it worth that time, especially since three months later, the landscape will have shifted enough to have undone that research, because when you’re focused at that level, a tiny change in ratios can make all the difference.

I don’t feel like that level of micromanagement is worth it for most ordinary investors. If your wealth has reached a point where it does make a sizable difference, you’re probably not doing it yourself.

Q7: Low interest loan payoff?

My wife’s student loans are at 2.25% and 2.75%. Does it make any sense at all to pay them off early when they’re that low?
– Keith

It depends entirely on what your goals are going forward. Some people choose to invest before paying off low interest loans, while other people do it the other way around. Neither one is strictly “right” or “wrong.”

Paying off debt early helps with monthly cash flow. It makes your finances more tolerant of things like a drop in salary or a choice to become a stay at home spouse or a radical career shift. That’s harder to do if you have your money locked up in, say, a 401(k) plan without taking a giant tax hit. Debt repayments also effectively act like an investment that returns that particular interest rate guaranteed, so an early loan payment is, in your example, like an investment with a guaranteed 2.75% return. Which isn’t bad at all.

Investing is usually a better long term strategy. Most investment options will have a long term annual return that’s better than 2.25% or 2.75%, though in individual years they may do worse. However, you’re still going to be facing that student loan payment for as long as possible.

I don’t think of either choice as “right” or “wrong.” I think they’re both “right,” because they’re both centered around spending less than you earn and doing something wise with it. Different people are going to be drawn to different routes depending on their internal psychology and goals.

Q8: Staying with company long term

I’ve been reading articles that say that you’re more likely to receive significant bumps in pay by switching companies rather than staying with the same one. Is it then a bad choice to stay with a company for many years if you’re leaving money on the table?
– Marc

I think the strategy of switching employers regularly depends a lot on the field. It tends to be a solid idea in tech industries because startups are born, blossom, and then get bought out every few years and so if you can jump into one of those blossoming periods you can make very good money.

However, many other careers are centered around firms that are stable over the long term, and it seems to be a better strategy to establish yourself and move up in those companies and organizations rather than move around.

My general feeling is that if you can consistently jump to a new job that’s exactly like what you’re doing now except with more pay, then you should do that consistently. If that’s not a window that your career provides for you, then you should stay put.

Q9: Cooking from frozen

Do you have any tips on cooking things from frozen, like lasagna? Whenever I do it, it turns into a bunch of mush that no one wants to eat.
– Olivia

If you feel that your frozen lasagnas turn out to be mushy when you cook them, I suggest trying a different approach when making them. Instead of cooking the noodles when you assemble the lasagna, use uncooked noodles.

The reason for that is that uncooked noodles absorb a lot of liquid as they cook. As the liquid in the lasagna boils, the noodles absorb some of that liquid, making for a firmer lasagna when it finishes.

You’ll definitely want to experiment here to find exactly the kind of lasagna firmness that you’d like, but when a frozen lasagna is super mushy/goopy, the reason is almost always due to the pre-cooked noodles.

Another tip is to simply take the lasagna out of the oven for 15 minutes or so before serving and allow it to rest on the table. This often allows the heat in the lasagna to balance out and causes the whole thing to “firm up.”

Q10: Used camping gear

My wife and I have decided to camp in Yosemite in April. We have very limited camping gear so we are looking to buy some items. Is it okay to buy used camping gear?
– Sam

Yes, provided that it’s nothing that’s a pure safety item. Never, ever, ever entrust your personal safety entirely to a used item as you have no idea how it has been cared for or maintained.

So, for things like a sleeping bag or a tent, you’re fine buying used. The condition of these items generally won’t make the difference between life and death unless you’re camping in the Arctic. On the other hand, if you’re into doing any sort of climbing, you should be buying any and all safety gear for climbing.

You may find it somewhat difficult to find used camping gear in the United States in the winter, though you may find quite a bit in March as people get into spring cleaning.

Q11: Borrowing money to invest

If I can borrow money interest free or at 1-2% should I do so to use that money to invest? I can handle the monthly payments on the loan and could just repay it all from the investment principal.
– Pete

This is called leverage, and it’s generally a very poor idea to do this with your personal money because if things go awry when leveraging, they go very awry, and “very awry” is not something you want to do with your personal finances.

The problem comes when there’s a series of unfortunate events. Imagine if the item you invest in has a year like the stock market had in 2008, where the value of the item drops by 40%. Then, let’s also imagine that at the same time, you lose your job. What do you do in that scenario? You don’t have enough to pay back the loan and you don’t have the income to keep making loan payments. You could sell the investment at a loss and use the proceeds to make the loan payments, but you’re now in a big hole that will take a very long time to recover from.

The thing with leverage is that it can amplify gains, but it can also amplify losses, and if you’re not 100% prepared to handle amplified big losses, you should avoid such moves at all costs.

Q12: Lying about job to family

I have been a very diligent saver for many years and still have enough to live 8-10 years without working in my savings. About eight months ago, I left my previous job by mutual agreement. I was stressed out and not performing well and we mutually agreed it was better for me to move on. If anything, it was more my choice. Since then I have not told my parents or other family members about the career change, just avoiding the subject or acting like my career is still going as normal. I feel like I am lying.
– Calvin

If you do not feel comfortable discussing your career choices with your family, then you shouldn’t discuss them, period. It’s honestly none of their business.

If they ask prying questions, tell them something truthful in response. Tell them that you’re shopping for a different job because of issues with your employer. Tell them that you’re dabbling in a side business and describe whatever it is that you’re working on. Don’t contribute anything to discussions about the workplace.

You don’t have to tell them anything, and you can easily do that without having to tell lies, either. Just focus on what you are doing rather than what you’re not doing.

Got any questions? The best way to ask is to follow me on Facebook and ask questions directly there. I’ll attempt to answer them in a future mailbag (which, by way of full disclosure, may also get re-posted on other websites that pick up my blog). However, I do receive many, many questions per week, so I may not necessarily be able to answer yours.

The post Questions About Re-enlistment, Social Investing, Lasagna, and More! appeared first on The Simple Dollar.

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How I Earn a Living as an Online Writer (And How You Could Too)

For most of my twenties, I worked long hours as the Director of Family Services at a local mortuary. If I had to describe my life in one word, I would definitely go with “exhausting.”

Not only did I work tirelessly until 5:00 p.m. every day, but I had two kids under the age of three. One top of that, I often worked nights, weekends, and holidays.

Working so much made it hard to spend quality time with my kids, let alone put a good meal on the table. And even though I was making decent money and providing for my family, I often felt like a huge failure as a parent.

Then something amazing happened; my husband and I started a blog. In an effort to boost our earnings and chronicle our financial journey, we built a website – ClubThrifty.com – from scratch.

From there, I started dedicating part-time hours to my one true passion in life – writing. Eventually, I even learned to leverage my online presence to get more writing jobs in the online content creation space.

Fortunately, I built a sizable portfolio fairly fast and started raking in a nice side income. Within a year, I even replaced my $40,000 salary with freelance work and put in a one-month notice at my job. And no, I have never, ever looked back.

Although I work long hours and sit at the computer most days, writing online content for a living has been absolutely amazing. I get to earn a six-figure income, yet I never have to dress up or see the inside of an office. I’m earning money, yet I’m here when my kids get off the bus each day. I work all the time, yet I can take as much vacation as I want. As a busy working mother, being able to live life on my own terms is all I have ever wanted.

Of course it’s hard work, but everything worth doing is.

Since so many people know how I earn a living, I get tons of questions about how it works. How did I get ongoing columns for websites like The Simple Dollar, Lending Tree, and Frugal Travel Guy? And, where does the bulk of my income come from? Most importantly, they want to know how they can do the same.

To answer those questions and more, I created an online course for new and experienced writers – EarnMoreWriting.com. This course answers every question I have been asked since I became a full-time writer in 2012.

5 Steps to Building an Online Writing Career

If you want to build an online writing career, you need to have a passion for creating intriguing, innovative content. You don’t need any fancy apps or tools, but you do need a computer and a working internet connection.

Other than that, you mostly just need to get started – to take a handful of “first steps.”

Of course, this is easier said than done. Even passionate and established writers don’t always know how to get their side hustle off the ground. Questions commonly asked include:

“Where do you start when you’re trying to build a writing portfolio from scratch?”

“How do you get your first ‘big’ writing job?”

“How do you stand out among other writers in your niche?”

While I answer all of these questions and more in my course, here are a few tips you can use to begin building your freelancing career right away:

Tip 1: Build an online portfolio or start a blog.

If you want to build an online writing career, you have to make it possible for people to find you. The best way to achieve that goal is to create a blog or online portfolio where you can showcase your work. My blog, ClubThrifty.com, serves as my online business card, but yours can look however you want. You mainly need a website to list on your byline, and a “home” where you can showcase your writing talent.

Tip 2: Find your ideal “niche.”

I constantly hear new writers say they have trouble finding their niche. They are passionate about writing, they say, yet they’re entirely unsure of what to write about.

To find paid work in the areas you want to get hired in, you need to find your “niche.” While you can choose a subject or variety of subjects based on your passion or hobbies, your niche can also relate back to your career expertise as well.

Tip 3: Utilize online platforms for paid work.

Even if you have a passion for writing and are desperate to get started, it can be difficult to know which online job platforms provide the best value. My advice is this: Instead of focusing on all of them, narrow down your efforts to three or four platforms that work best for your writing type and content niche.

Tip 4: Learn how to add value.

A lot of high-paying jobs are out there, but you have to know where to find them. Beyond that, you have to learn to “add value” so you can keep them for the long haul.

I cover the different ways you can add value in the video section of my course, but also offer a bonus guide on “What Editors Really Want” written by Boston Globe contributor and professional editor Jon Gorey.

Let’s suffice it to say that “adding value” can mean anything your editors want it to mean. In my professional work, I add value by adding HTML to posts, inserting internal links, following style guides, being responsive to emails, and doing anything extra that makes my editor’s job easier.

Tip 5: Write awesome blog posts that “pop.”

Obviously, writing solid and entertaining content is the best way to find – and keep – awesome writing jobs for the long haul. While we each have our own personal writing style, it’s crucial to strike a balance between informative and fun in every post.

Fortunately, becoming a better writer is something that happens naturally for most people over time. The best way to improve your writing is to write, write some more, and keep on writing.

Want to Build a Writing Career from Scratch?

When you’re angling for a writing career of your own, getting started is usually the hardest part. You’re probably wondering about the best first steps. How can you build a writing portfolio from nothing? Also, how can leverage writing skills to find paid work?

Trust me, I’ve got you covered. Over two months, I created nine video modules and plenty of printable resources to answer those questions and more. Not only will I tell you how to position yourself for the best work, but I’ll tell you where to find it.

With EarnMoreWriting.com, you’ll also get a 100% refund guarantee. If you don’t find any writing jobs after taking my course, I’ll refund your money no questions asked.

If you’re an aspiring writer, you have nothing to lose and everything to gain.

Find out more at EarnMoreWriting.com.

Have you ever wished you could work from home? What is your favorite side hustle?

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Cut These Five Bills to Save $500 Next Month

No matter the time of year, saving money is almost always a good thing. But, when the holidays hit, your savings goals might feel even more urgent than usual.

Maybe you traveled to see family over Christmas and forked over a pretty penny for airfare, hotel stays, or a rental car. Perhaps you spent more than you planned on holiday gifts. Maybe you even spent so much that – gasp – you can’t afford to pay your holiday credit card bills.

Whatever the reason, now is as good a time as any to take a sharp swipe at your expenses and get back in the swing of things. And if you hack at your budget enough, you could even save up to $500 next month.

Want to know how? Consider cutting any combination of these expenses to reduce your spending and get your finances out of the red:

#1: Energy Bills

Your energy bills might make up a huge portion of your budget, depending on where you live. If snow is falling and air is cold, for example, your gas or electric bill might be through the roof.

Fortunately, this is one area where you could start saving right away. Some ways to reduce your energy usage immediately include:

• Turn down your thermostat. Even a few degrees can make a huge difference in your energy bills when it’s cold outside. And if you have a few bucks to invest upfront (or some holiday gift cards to burn), you could also consider buying and installing a programmable thermostat that will turn down the temperature automatically when you’re not home or tucked under the covers at night.
• Unplug unused electronics or use smart power strips. Unused electronics siphon “phantom” energy that adds to your energy bills without providing any value in return. To keep unused electronics from costing you, unplug them when they’re not in use. You can also install power strips to keep related items turned off when you’re not home. For example, you can keep your television, DVD player, and cable box on one strip that is easily turned off when you’re not watching TV.
• Turn down your water heater. You don’t have to take cold showers to save on energy bills. But hot water heaters account for about 17% of a home’s energy usage — more than all your appliances combined — and most of the time that water’s just sitting there in the tank. To dial back your usage, try turning down your water heater incrementally; when you finally notice a difference in the shower, turn it back up just a tad.
• Seal your home. The U.S. Department of Energy offers a great guide on air sealing your home. They suggest looking for leaks, then adding weatherstripping, caulking, and insulation to keep warm air from escaping your home.

How much will you save with these changes? As the U.S. Department of Energy notes, your savings will vary depending on myriad factors such as where you live and how efficient your home is. However, they note you could easily save $83 to $166 per year just by sealing leaks, $100 per year by using power strips, $12 to $60 per year by turning down the water heater, and up to $83 per year by turning your thermostat down for eight hours each day.

By making each of these changes right away, you could presumably save at least $30 next month and beyond.

#2: Food Spending

We all know we could spend less on food. So, why don’t we? At the end of the day, it all boils down to our habits – and mostly our bad ones.

Rather than cook at home after a long day at work, it’s far too tempting to pick up take-out on the way home. And if you’re not in the mood, a ring to any random pizza parlor or Jimmy John’s will result in delicious food delivered right to your front door. It’s all too easy, but those extra “splurges” sure do add up.

Fortunately, it’s easy to shave costs if your food spending is out of control. Here are your first steps to save at least a few hundred bucks next month:

• Stay away from restaurants. Seriously, don’t go. If you can avoid dining out for a month, you’ll save money by default.
• Pack your own lunch to work. It’s easy to go out to lunch and spend $10 to $15 per day. Stop. Visit the grocery store instead to stock up on ingredients for easy lunches you can bring to work.
• Make cheap and easy meals at home. Cooking every night may not be fun, but you’ll save a lot of money if you learn to make some meals using simple ingredients at home.

If you normally spent $50 per meal dining out once per week, you could save $200 next month by staying home. If you normally eat out for lunch and spend $10 per day, you could pocket $50 per week or $200 per month by bringing lunch instead.

The best part about this component of your budget is that you can get started and see results right away. And with some combination of these moves, you should easily be able to save $200 next month.

• Related: 20 Strategies for Radically Cutting Your Food Expenses

#3: Cable TV

The average cable television bill hit $103 per month earlier this year, with 82% of households subscribing to some form of pay-for-television service.

The good news is, there are plenty of ways to save money on cable without ditching your favorite TV shows altogether. Some options include:

• Downgrade your plan: If you’re paying for premium channels or add-on packages, consider which ones you truly watch and enjoy. Do you need a DVR on every TV? Are you really getting your money’s worth from the extra channels you’re paying for, or are they just nice to have?
• Invest in a digital antenna. A digital antenna might run you $25 to $50 upfront, but it could help you drop your cable bill forever. The major TV networks (such as NBC, ABC, CBS, FOX, and PBS) still broadcast their signals over the air, for free, just like they always did — except now they do it digitally, in high definition. With digital bunny ears, you can watch a lot of hit TV shows, local news, and live sports (including football), in HD, completely free.
• Subscribe to Netflix or Hulu. To complement your free over-the-air TV, you can sign up for Netflix or Hulu for less than $10 a month each. With Netflix, you’ll have access to hundreds of children’s and adult shows, including complete past seasons of popular TV series, documentaries, and thousands of movies. With Hulu Plus, you can watch any number of popular TV series. To watch these services directly on your TV instead of your laptop, you have plenty of options, ranging from a $5 HDMI cable to more user-friendly plug-in devices (like Google’s Chromecast or the Amazon Fire TV Stick) to complete set-top boxes (such as the Roku Box or Apple TV).
• Use Your Amazon Prime Membership: If you already subscribe to Amazon Prime for the free two-day shipping (now $99 per year, or about $8 a month), you also get access to an entire library of movies and television shows you can stream directly to your TV.

With any of these options – or a combination of them — you could easily save $50 or more on your cable bill next month. At my house, we’ve got Hulu and Netflix for less than $20 per month. While even this is probably more TV than we need, it still helps us save $80 per month off the average cable bill.

Keep in mind, however, that streaming options require home internet service. If you already have internet service you’re happy with, these options might help you save. But if you have to add internet service to cut your cable TV, the savings could be negligible. Either way, make sure to compare options, plans, and potential savings before you pull the trigger.

• Related: How to Cut the Cord to Cable and Save a Lot of Money Each Month

#4: Insurance

Automobile and homeowners insurance should be taken seriously, but that doesn’t mean you can’t save with some savvy moves. We’ve all seen that adorable lizard saying you can save up to 15% on car insurance just by shopping around, but this is true no matter which company you choose and what type of insurance you’re looking for. Consider these tips to save on insurance right away:

• Shop around for the best quote. The best way to save on homeowners and auto insurance is to shop around for a better deal. Just make sure you’re comparing “apples to apples” by seeking out similar – or better – coverage than you have already.
• Raise your deductible. If you like your policy already and don’t want to change, you may be able to reduce your annual or monthly bill by raising your deductible on either your homeowners or auto insurance policy. The best way to find out is to call your agent and ask.

#5: Credit Card Interest

Whether you were drowning in debt already or picked up new bills over the holidays, the monthly interest payments credit cards will charge you tend to be unkind to your wallet. With average credit card interest rates hovering around 15%, it’s not hard to imagine why!

The obvious long-term solution to credit card debt is to pay it off. Unfortunately, this strategy can take time and money you may not have right now.

If credit card interest is hampering your savings efforts, consider these options:

• Call your card issuer to ask for an interest rate reduction. If you have a solid history of repayment, your card issuer might reduce your interest rate if you call and ask. The worst they can say is “no.”
• Consider a balance transfer. If your cards carry unruly interest rates, a balance transfer credit card can help. By transferring your current balances to a new card, you could secure 0% APR for anywhere from 12 to 21 months. This could cut your monthly credit card interest payments down to zero overnight and help you pay down debt faster.

The Bottom Line

Whether your goal is to get out of debt this year or to save up a down payment for a house, saving money should be your top priority. With a few sacrifices, it may be possible to free up an extra $500 per month or more — and not just next month, but every month going forward.

If you’re serious about getting out of debt this year or simply want to reduce your monthly spending to save more, these strategies will help you get started. So, hack away, my friends… and keep hacking. Before you know it, you’ll have a lot less money going out the door – and a lot more staying in your bank account.

Related Articles:

• How to Save Money with a Balance Transfer
• 40 Ways to Save Money on Monthly Expenses
• How to Handle Post-Holiday Debt
• Six Ways to Hack the 52-Week Money Challenge

Do you plan to cut your spending next month? Which expenses do you plan to cut first?

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3 Dream Business Ideas to Start This Year

By Kimi Clark A new year is on the way, and at a time that most people are reevaluating their goals in life, what better time to start your dream business? Sometimes all it takes are a few good business ideas, and you’ll be on your way to launching an enjoyable career and doing meaningful […]

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St. Luke's still growing in 2017

The Bartonsville hospital still has some outward growth to complete.

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Master Your Money You Will: How to Become a Financial Jedi Master

A long time ago in a galaxy far, far away . . . .

There was a mystical knightly order thoroughly trained to guard justice and peace in the universe.

They called themselves Jedi.

Today, I’m going to teach you how to master your finances – like a Jedi.

Worry do not, smart you are.

Prevail you will.

So hop on your eopie – or tauntaun if you prefer – and prepare yourself for the long journey ahead. May the Force be with you.

1. Tap into the light side of the Force – and think honestly about your finances.

This side of the Force is aligned with many virtues worthy of pursuit. Honesty is one of those virtues.

In order for you to master your finances, you must be honest with yourself. What’s your current financial situation? Are you living paycheck to paycheck or are you hoarding wealth and living in luxury like Bohhuah Mutdah? Neither extreme is good for a Jedi – you must find balance.

But to find balance, you must think honestly about your finances. That’s not an easy thing to do when you’re having to think about your own financial situation. That’s why I recommend talking with a friend – like Child of Winds. Find someone who can assist you.

Financial advisors – like yours truly–  are a good choice, as they not only have unbiased opinions because they’re not a part of your family, but they have the experience to know what to do in battle.

Remember:

It is not simply enough to know the light . . . a Jedi must feel the tension between the two sides of the Force . . . in himself and in the universe. – Thon, Tchuukthai Jedi Master, Tales of the Jedi

Do you feel the tension between where you are and where you want to be? Are you passionate about tapping into the light side of the Force? Then you need to be realistic about where you are in your finances in order to get where you’re going.

2. Learn the Jedi mind trick – but trick yourself.

The Force is a powerful influencer that can be used by Jedi on the weak-minded. A thoroughly trained Jedi can use the Force to implant a suggestion or idea into others’ minds. This allows them to accomplish their missions.

In order to master your finances like a Jedi, you must learn the Jedi mind trick – but trick yourself instead.

For example, let’s say you have a spending problem. When you set out to save some money instead of spending it all, you’re not going to want to do it. Instead, you’re going to want to spend – just like you always have. Try out these other great tips on ways to make money fast to help you with your saving endeavor!

You’re going to have to trick yourself into spending less. And there are several ways to do this.

One way is to hitch a ride to an abandoned Sith world. There, there’s really nothing to do – nothing to spend your money on.

If you don’t have enough credits for such a journey, you’re going to have to avoid marketplaces that are full of droids and the like. Droids can be expensive – why not fix up one of your old ones instead of wasting your galactic credits on the latest model?

While you’re at it, have your old droid keep track of your credits for you. Have it keep you on a budget. Their artificial intelligence will help you make important decisions on what you should and should not purchase. Being mathematically precise is a necessity when it comes to finance – and droids have this mastered like none other.

But when it comes down to it, you’re going to have to be the one to trick yourself out of your emotional impulsiveness and into self control. Feel the Force and let it be your guide.

3. Don’t become another Darth Vader – give according to the light side.

We all know the tragic story of Anakin Skywalker. This Force-sensitive human was once a very heroic Jedi Knight who later in life became seduced by the dark side of the Force.

It pains me to even talk about this. Anakin slipped into the role imposed on him by Darth Sidious and enforced his master’s will as Darth Vader – a man aiming to destroy the Rebel Alliance.

Money and power can surely corrupt. Don’t let this happen to you.

A Jedi has self control beyond measure. When you start to accumulate wealth, don’t let it get the better of you. Help out your fellow man. Just because you have access to the Force doesn’t mean that you have to be influenced by the dark side. Instead, use your wealth for good. Help out the common folk and give to causes worthy of support.  This also includes buying a final expense insurance plan or life insurance policy to take care of your family.

In order to give, though, you should first take care of yourself and your family. Make sure you have an emergency fund, are saving for retirement, and are funding your children’s college education.

4. Don’t buy an Imperial Star Destroyer – it’s too expensive.

Listen, you don’t need all those bells and whistles. What do you need laser cannons and tractor beams for anyway?

Instead, buy a vehicle you can afford. Think podracer.

Sure, Anakin eventually went over to the dark side, but you have to hand it to his younger self – he built his vehicle from spare parts. Cheap, fast, and built for those who have the Force running through their being.

Who wants to be paying interest on a vehicle loan for the next 15 million years? Not a Jedi, that’s for sure. Jedi live within their means and seek to be as efficient as possible with their credits.

If you have a need for intergalactic travel, sure, buy something that will get you from planet A to planet B, but don’t become a slave to the New Order to do so.

Heck, I drove my grandmother’s 1998 Chevy Lumina for several years and survived! That saved me a bundle that I used  able to invest more money.

5. Train constantly and don’t give up.

A Jedi’s training in the Force never ends. – Vodo-Siosk Baas, Krevaaki Jedi Master, Tales of the Jedi: Dark Lords of the Sith

Change is bound to happen. That’s why a Jedi must constantly train to meet the demands of the changing times. And you know how Jedi trained? It was either in groups or in a Master-Apprentice format.

That’s right, you must train with those who are going to sharpen your skills. Here again, there’s value in training with a financial advisor. I did so in the early days, and so can you.

In fact, you can become a CERTIFIED FINANCIAL PLANNER™ professional too – if that’s what you’re seeking.

But perhaps you’d just like to learn some more about how to handle your own money and not necessary the money of others. That’s acceptable, but remember it still takes a great deal of effort to master virtues such as self control.

Managing ones finances takes a tremendous amount of discipline and self control. That’s why you need to train constantly to ensure you aligning yourself with the light side of the Force. One small deviation from your plan may cause you to question the goodness of the light side, something no Jedi should ever do.

Training to become a Jedi is not an easy challenge, and even if you succeed, it’s a hard life. – Qui-Gon Jinn, Human Jedi Master, Star Wars: Episode I The Phantom Menace

Sticking to your financial plan over the long-term is perhaps one of the most difficult things you’ll ever have to do. Think about it. When you see your investments fall by 10 or 20% – are you going to freak out and sell them or are you going to stay the course until retirement?

What about when financial hardship comes your way? If you were to lose your job repairing tutor droids, would you have what it takes to recover and find a new job – perhaps working on exploration droids? Would you have enough galactic credits saved up to ensure you could survive using food synthesizers to create edible organic matter from the raw materials in your backyard?

A true Jedi trains for just about every conceivable hardship yet does not become burdened by the process. Training is intense, but the Jedi calmly works through their training to prepare for inevitable circumstances.

Grab Your Lightsaber – It’s Time for Battle

This was the formal weapon of a Jedi Knight. Not as clumsy or random as a blaster. More skill than simple sight was required for its use. An elegant weapon. It was a symbol as well. Anyone can use a blaster or a fusioncutter–but to use a lightsaber well was a mark of someone a cut above the ordinary. – Obi-Wan Kenobi, Human Jedi Master, Star Wars Episode IV: A New Hope (Novel)

Like handling a lightsaber, handling your finances requires a great deal of care and skill. You can be a cut above the ordinary. Start here.

It’s time for battle. Are you ready?

May the Force be with you, Jedi.

##photo courtesy: coba

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Here’s a Budget-Friendly Way to Get Fresh Produce Delivered to Your House