brip blap - Latest Comments in how to make money without a job and why you should

Re: how to make money without a job and why you should

Linsey Knerl — Tue, 04 Mar 2014 16:11:40 -0000

Cutting costs only gets you so far, so earning extra income is always a good thing. However, there is one benefit to saving money over making more -- and that is taxes. I can earn the same thing I earn now, cut expenses and keep 100% of the money I saved by not spending it. Earning more, however, I end up forking over 30% to the government. There's a reason that so many people are doing the hardcore frugal living thing, and it isn't because they are afraid of hard work. Some people have just realized that $100 + 20 hours spent on a garden that produces $1000+ in food may be more valuable than spending those same 20 hours on earning $1000 that gets taxed at 30% (giving you just $666 left) and then spending that on far less food due to inflation and taxes at the store. It's harder to scale income without penalty..... But I totally agree with this post :)

Re: how to make money without a job and why you should

Mark — Fri, 27 Jul 2012 07:47:29 -0000

One of the best money making ideas recently is to participate in community banking. Banks are losing their roles as intermediate in providing loans to their participants (clients) from their own money. People start to help each other by helping with money directly. More information at
www income-plan com

Re: how to make money without a job and why you should

Larissya M — Thu, 10 May 2012 12:11:13 -0000

Unfortunately a lot of people don't have the courage to try anything else than their jobs.Most people are happy to be employees and they don't want to try to make their own business or to develop an activity that would bring them a good income.It is a bad decision cause if we had more entrepreneurs the economy would be a good one for everybody.

Re: how to make money without a job and why you should

Steve — Thu, 20 Aug 2009 04:50:54 -0000

@Tiranga: In all honesty, the "spend less than you earn is the wrong
way to think" is a bit of blog showmanship - I'm writing a "WHAT DID HE
SAY?!?!" headline and then explaining it. Of course you have to spend
less than you earn, but many people would argue that there are cases
when you shouldn't. Good example? Taking out student loans to get an
education, or getting a loan to start a business.

I'm glad you enjoyed the post!

Re: how to make money without a job and why you should

Tiranga — Tue, 18 Aug 2009 05:19:40 -0000

Re: how to make money without a job and why you should

Julie @ Write for eHow — Wed, 29 Jul 2009 11:59:00 -0000

I love this article! Plan to bookmark it to save for the future. I especially love the point about not sneering at a $10/month stream. So true!

Re: how to make money without a job and why you should

ptmoney — Thu, 07 May 2009 13:01:56 -0000

Loved the post, Steve. I liked your point about making debt payoff quicker. Dave Ramsey talks much about beans and rice, but you don't have to think like that like you say. Flip it on its head and start bringing in some more money. I've also been able to do it with my blog and I'm getting ready to pay off our student loans. A debt we'd never considered paying early until the secondary income started coming in. Alternative streams help you do things you once thought weren't possible. I love mine.

Re: how to make money without a job and why you should

Steve — Mon, 13 Apr 2009 16:36:28 -0000

@Moneymonk - "extra work" in the sense of "unnecessary work" isn't what keeps middle class middle class, at least in my opinion.

Re: how to make money without a job and why you should

L. Marie Joseph — Mon, 13 Apr 2009 12:16:47 -0000

..."extra work isn’t what anyone wants."

You can say that again, that's what keep middle class middle class

Re: how to make money without a job and why you should

mttwokids — Sun, 01 Feb 2009 21:45:08 -0000

Thanks for this article - I really enjoyed it and I think it has renewed my inspiration. I have been struggling for the past few months as far as my business is concerned, and am working on several different income sources. Thank you for putting it all together in such an eloquent manner.

Re: how to make money without a job and why you should

Tim Bennett — Mon, 10 Nov 2008 18:07:06 -0000

I don't go to work! Yes I am very fortunate that I love what I do. I follow my passion and therefore I do not consider what I do work. I don't care if I work all day as I actually love it. It is just the way I am. If I love if - why would I want to take holidays or retire? In fact even when I do go away I still do my passion.

I am not some rich kid. I am just a normal guy in fact I didn't do any formal education past high school, but 30 years later I live on the other side of the world from my home town and live a great life because I made decisions to do things that I love doing rather than going to work.

I earn enough to sustain a nice lifestyle, but I am not a millionaire. I have my own small company (in fact 2) one providing laser special effects and the othe providing training to people who want to make more money. Maybe you can take a look at Millionaire Anonymous if you are interested.

My suggestion is...don't get a job. Get paid to do something you love and life will be much sweeter.

Re: how to make money without a job and why you should

Pink Golfer — Mon, 20 Oct 2008 03:45:30 -0000

so how many income streams do you have apart from your job?

Re: how to make money without a job and why you should

Bill — Sun, 25 May 2008 15:05:11 -0000

As the "Millionaire Next Door" shows, successful small businesspeople do indeed ruthlessly control consumption expenses (small house, used domestic car) to conserve capital to build their business.

I grew up in a family of 4 in nearly 6,000 sq.ft., and I know what that costs a household.

My family of 4 lives in under 1,500 sq.ft. and living is cheap and easy (paid off my house before age 40).

Think about how much free cash flow you would have with no mortgage.

Re: how to make money without a job and why you should

Steve — Sat, 24 May 2008 21:58:45 -0000

@GG: A lot of PF blogs don't say it but a lot do: a lot of the blogs in my blogroll think that way!

Re: how to make money without a job and why you should

GG — Sat, 24 May 2008 14:16:01 -0000

Hmmn. Very, very interesting post. You're saying something that--you're right--we don't hear on PF blogs too often.

Off to think of ways I can earn additional income....

Re: how to make money without a job and why you should

Shanti @ Antishay — Tue, 20 May 2008 19:26:00 -0000

This post is right on track! I work at home doing multiple businesses and I love that my income is so diversified.

Thanks for this awesome post :)

Re: how to make money without a job and why you should

Steve — Tue, 13 May 2008 22:16:13 -0000

Great bunch of comments, by the way. My problogging gig isn't' providing me with the time to respond to every comment immediately - nothing like having a toddler and an infant in the house to disrupt your schedule - but I hope my post the day after this one answered a lot of the comments!

Re: how to make money without a job and why you should

Steve — Tue, 13 May 2008 21:59:23 -0000

@Mike: Well, I stick by that assertion for this reason: if you think of a way to save a $1, you benefit, true. If you think of a way to add $1 to your income you benefit again and again and again. I focused on getting my spending to a minimal level but after that I gave up on finding out ways to save. Spending time trying to save money on coupons, for example, is time I can spend working on new income streams.

I hear you. You can't continually increase spending AND income, but at the same time if I increase my expenses 5% per year and my income 10% per year, I'll get ahead in a hurry. If I cut spending 5% per year, and income remains steady, there's only so far I can cut spending. There are two sides, but one side is far, far more important.

Re: how to make money without a job and why you should

Mike — Tue, 13 May 2008 20:40:17 -0000

I totally agree that increasing income is important. But I think people might be misled by the assertion "spend less than you earn is the wrong way to think!" You still have to spend less than you earn, or you're in trouble! Personally I think someone who truly desires financial freedom has to focus not only on earning more, but on spending less. There are two sides to the coin of financial success...

Re: how to make money without a job and why you should

move to portugal — Tue, 13 May 2008 02:06:23 -0000

Great, great post Steve.
I have a trickle of blog income, only a trickle, however it will cover the cost of hosting for my new business website, which in turn should provide extra income.
:)

Re: how to make money without a job and why you should

Debt DownLoad — Tue, 13 May 2008 01:09:41 -0000

This is a huge motivator. I love the idea of having several different streams of income each generating about 10% of the total. One of the things that many people focus on are the rock stars who make six digits per month from Adsense. There's an idea that this is easy. Compared to working as a salaryman it is easy, but it's also hard work. I enjoy sites like John Chow or Affiliate Confessor where the authors publish a report on the income streams their sites generate. Its not all adsense. If a bit of code on my site generates only $10 per month, that's $10 I wouldn't have otherwise. Of course the goal is to generate a lot more than that, but it all adds up at the end of the year.
Don't forget to put 30% aside for the KGB IRS...

Re: how to make money without a job and why you should

Writer's Coin — Mon, 12 May 2008 22:49:03 -0000

I needed this advice a few months ago when I wasn't generating any alternative income. Now I've crossed the $100 dollar mark and shooting even higher.

Re: how to make money without a job and why you should

home based — Mon, 12 May 2008 22:31:01 -0000

Now, this is what I call an encouraging post. Been blog hopping today and I read quite a bit of discouragement from some blogs. Of course, I had to tell them that I am making more money now for lesser effort since I am already better skilled in ways of acquiring alternative income. Regards!

Re: how to make money without a job and why you should

Gold Coin Collector — Mon, 12 May 2008 18:17:44 -0000

totally correct.

I turned my passion of coin collecting into an affiliate site to generate extra income every month.

I also run several blogs and together its enough money to pay rent and put food on the table - quite a good safety net to have.

Re: how to make money without a job and why you should

Bill — Mon, 12 May 2008 16:49:57 -0000

Great post, Steve!