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Friday, October 13, 2017

Money Matters: Efficient Ways To Boost Your Family's Income


When you’re running a household and raising a family, money can be tight. There are always bills to pay, groceries to buy, cars to maintain and kids are always in need of something or other. Whether it’s money for school trips, to socialise, new clothes where they’re constantly growing- family finances are often on the tighter side even if you or your partner has a good job. So chances are you will be keen to find ways to boost your income and make your money go that bit further. Here’s how you can do this!

Budget Efficiently
Whether you’re working with a little money or a lot, you need to know how to budget efficiently. This stops overspending and means every penny is going to good use. It means all of your important outgoings are paid first so you don’t fall behind or get yourself in a muddle with money. There are plenty of budgeting apps and online programs. Alternatively you could write everything out on a calendar or notepad. Either way, make sure you know where your money needs to go and that you can afford everything your spending. If your outgoings are more than what’s coming in then you need to make cutbacks somewhere or you will end up on a slippery slope of debt and arrears.
Go Back And Study To Get a Better Job
One way to boost your income is to earn more money at work. If you think you deserve a promotion, it can’t hurt to ask your boss- if there’s no progression in your role then why not study for something better? A few years in part time education can be difficult, but it could open the door for better careers and more money for your family. Since you can study online at home these days it’s something you could fit in evenings and weekends, around work and other commitments.

Make Teenagers Earn Their Keep
Teens are even more expensive than children, because they tend to have expensive taste! If your teen wants money for socialising, their own car and the latest clothes and gadgets, it makes good sense for them to contribute towards this. Plus, working teaches teens the value of money and that it doesn’t just grow on trees, as well as promotes a good work ethic. You can find things Applebee's application online via Job Application Center, you could enquire in grocery stores, even ask friends and family if they need a babysitter. Either way, a part time job for a teenager is no bad thing and could certainly free up some cash in your budget if they’re earning money to cover their own luxuries.

Make Smart Investments
If you already have some savings in the bank, there are ways you can put this money to good use. Investing can come with risk, but choose something that has a high success rate and minimise your chances of failure. For example, investing in property is a smart move since the price appreciates in value each year and property is always in demand. Peer to peer lending is another good move, these companies split up your money in a way that minimises risk to you if someone doesn’t pay their loan back. avoid things like Binary trading, the stock market and investments into new ideas like Bitcoin. While these could have huge rewards, there are also big risks too especially when you’re new to investing and don’t know what you’re doing. But putting your money in the right place could increase your family’s wealth and set you up for a brighter financial future.

Set Up an Online Business
It’s simple to set up an online home business these days. Online marketplace sites like Etsy allow anyone with a passion or creative talent to set up a stall and start selling right away. If you already have a hobby which you’re talented at and enjoy, why not make money from it? It could be making jewellery, designing logos, knitting, sewing or any other kind of craft. Alternatively you could buy from wholesale websites and sell for a profit on sites like eBay. There are plenty of opportunities and its something that could be very lucrative done well. Since you will be running everything yourself, it’s something you could fit around everything else in family life.

Work as a Blogger or Freelancer
Do you enjoy writing? Working as a freelance writer or blogger would suit you to a tee. You don’t need any special equipment just a computer and an internet connection. It can take time for bloggers to build up their site to the point that sponsors are interested,  but if you’ve already been blogging a while and are established, why not look into ways to monetise? There are tonnes of affiliate programs out there, or you could join a site to bid on sponsored posts. Freelance writing allows you to choose which projects you want to complete, and there’s usually work available meaning it’s a reliable way to earn some extra cash when you need it. There are lots of different freelancing sites online so see which you like the look of most, there’s usually a simple test before you can join to make sure you have the right skills. If writing isn’t your thing, you can find editing, design, web design, even admin jobs on freelancing sites too.

Answer Surveys
Finally, answering surveys is another quick way to earn some cash. You won’t get rich doing something like this, but it’s a good way to boost your income from a blog or freelancing and all you have to do is give your opinion. Plenty of different sites offer this, be sure to read reviews first to make sure they’re legitimate and pay in a timely manner. You could log on every now and again and click through the surveys available to you, it’s a bit of extra pocket money for little effort.



Do you have any other ideas to make your family’s finances run more smoothly?

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