Poundsandpence

Budget and managing personal finance

The benefits of having a full-time job and side-business

Launching a side-business, no matter what it may be, is one of the hardest but yet most fulfilling experiences of my life to date. 

My online handmade business was launched in 2014, back when Facebook pages were the ‘thing’ and there was a real boom of small businesses. I literally launched my business with a Facebook page and no website or any clue of how I was going to attract customers.

Slowly but surely I figured it out.

Whenever I talk about my business to friends or acquaintances, I get the question of  ‘when do you plan to run your business full time?

Truth is, right now, I don’t plan to run my business full-time.

Four years ago, I honestly felt greedy at times trying to make extra money, knowing full well that i had a good paying full time job. Who in their right mind, tries to make more money, when they don’t need it?

I realised that there were two major reasons why I had both my job and side-business:

  1. I was bored out of my mind. TV and mindless routine in the evening is just not my thing.
  2. I needed to increase my income, but didn’t want to leave my job.

The third reason that really pushed me into my side-business is that I coming out of a bad relationship. As I watched that relationship fall apart, my side-business gave me something positive to focus and work on.

When it came to my day job, I had no intention of giving it up. I loved the fact that as a business owner, I could actually dictate when and how I would work and run my business.

These days, it is not uncommon to have a side hustle and a day job.

The world is full of so many entrepreneurs, freelancers and bloggers who do this on a regular basis.

There are so many different ways that people freelance and make extra money on the side. I shared some of the most popular ideas in this post but there are tons of other ways you can put your skills to good use.

 

The reality of running a side-business

I will definitely be the first to say that running a side-business is definitely not an easy task, no matter how skilled you may be.

I have invested hours upon hours in working on my business. I have worked tireless at refining my brand, working on different products. Learning to understand marketing online and how to speak to my audience and attract customers.

I had to learn new skills to help me do things like building my own website using WordPress website and managing the online enquiries and orders that come through.

Finally, as with any handmade business, taking part in product delivery. This takes up a massive part of my time and energy.

There have literally been late nights of me tying ribbons and glueing cards together just to make deadlines for my expectant clients.

As a business owner, when you are running things on your own, you take on every single role that is required for any type of company. 

You become the inventor, the customer services agent, the delivery person, the bookkeeper…..the list goes on. Everything is your responsibility, every decision, every action and consequence comes back to you.

I cannot tell you how many tears have been shed in the last four years. Mistakes have been made, some big and some small. Some mistakes I still cringe about to this very day. I will say this however, no matter what has happened in the past, I truly appreciate all the bad and the good, because it is made me who I am today and it has played a role in shaping my business to become what it is today.

There is no doubt you build a thicker skin and I have gained invaluable experience that I know I would not have learned anywhere else.

 

Making extra money

Where I was enjoying having both a full-time job and my side-business, I was fully enjoying the benefits of having a double income stream.

I will say for total transparency, that my handmade business, is a seasonal one. That means that I do not make the same amount of money every month. I have had months where my business has brought in under £100. Others where it has made almost £3,000. 

To be completely honest with you, I still struggle to know how to plan what I pay myself and how to keep some regular income so this is an ongoing process for me to work out over time.

I will say that when I reflect on the last four years, I have really come to appreciate the many benefits that come with having an extra income and I cannot wait to share with you!

 

A second income

Have you honestly thought about the impact an additional £500 or £1000 would make to your usual monthly budget?

There is so many reasons people are looking for ways to make extra money.

There were some occasions, I personally struggled with feeling of guilt, asking myself why do I need more money? Am I being greedy?

This is where real positive self-talk is needed. The reality is that when you really break things down, nobody can pay their bills on someone else’s opinions.

With that in mind, I knew it was my responsibility to take care of me and get MY money. No more guilt.

Within my day job, I saw that my colleagues were awaiting the next payrise or bonus check. They relied on the yearly review to know what was happening with their money. With my situation, I found that I could enjoy more job satisfaction, because money for me was already sorted out. 

I had found a solution to stop focusing on money problems and instead focus on things that were bigger than me.

Gain valuable work experience

I spent the last 10 years working within a corporate company and watching others achieve big things. When I took the big steps to start my business, I shared what I was doing with my colleagues.

*side note here, that I was incredibly lucky to have a job that supported me, not everyone will experience the same type of support so please think about whether it is a wise idea to share. If it is go right ahead!  

My colleagues would comment on how much my confidence had grown in the workplace. I had a newfound willingness to learn more and understand how bigger businesses were running.

My conversations changed and the professional network I was building became with those more career minded. 

I found myself seeking out individuals who I could look up to as mentors. I looked for people who loved to share their knowledge and had a real interest in helping people achieve their goals.

I attribute these changes to my attitude and viewpoint towards having my own business at home. Suddenly I realised that what I was doing on a small scale is actually being done on a larger scale within these big corporate firms.

I could sympathise more with my superiors and understand their  business priorities. I understood strategies, and became more creative in thinking of marketing ideas and suggestions.

I asked more questions that not only helped me to do a better job in the day, but also gave me insight to areas I could work on to improve my own business practices.

These changes got the attention of others. They saw my potential and as a result,  helped me to get a job promotion that I never thought would be possible. I owe that to the new skills I developed due to just having my very own side-business!

 

Gained independence

These days, living by yourself and being able to provide a certain level of lifestyle is not an easy thing to do. In fact, I know a lot of people in my age bracket who either still live at home or struggle while paying rent to live in shared accommodation.

At this moment in time, this is the first experience I have had of living by myself. Before I have always had someone live with me, however this time, all the bills are my responsibility. Scary i know! 

My day job can happily cover my bills and living costs. Then come other things, like travel, saving, paying off those annoying credit cards or just having an emergency fund. 

Having that second income has created a safety net for me and allowed the flexibility to do all of the above.

Yes it takes a lot of hard work and my time is much spent focused on my business, however I will say this, this business has become a part of my life.

I’d be lying if i said I loved my business 100% every single day, however I am so grateful for the value it has added to my life.

I am so so proud of what I have built and the fact that it is still going strong 4 years later. I think that is a pretty big achievement in its own right.

When you can take care of yourself, without having to lean on others, there is no feeling more empowering than that. Some may say its a pride thing that you can’t ask for help – I would rather just not having to ask for help.

Having a side-business gives independence that others can not take away from.

It’s YOUR business, YOUR income, YOUR life.

Trust me when I say that as a young woman, that kind of power and confidence is unbelievable.

Improve way of life

I have touched on this point briefly but this allows me to expand on the point even more.

The question is, what is an ‘improved way of life’? That question is different for everyone.

For me, it enabled me to travel and enjoy amazing experiences. I spent time upgrading areas of my home and enjoying treats that I knew without it I could not really enjoy.

The extra income also has helped me to realise the impact it can have towards my future.

I can use that money to plan and save for things to come. I can pay off debts with that money and much faster than if I had to rely on just my day job.

Being in debt especially is not an easy thing for me to deal with, having experienced that first hand. There were some tough steps I had to take to overcome the weight of being in debt. 

Don’t get me wrong, I still have some work to do in that area, but I am happy to say, I am on the right track!

Provide help to loved ones

Everyone would love to know that they can provide support to their loved ones and financial support is always high up on the list.

I have never lived with the mindset of being ‘taken care of’, rather I have always wanted to be the one to take care of my own people.

This is a goal high up on my list and you could say it is part of my why in striving to increase my income, through my day job, through my business and now through my blog.

Build for your dream future

Do you have a dream or a way of life you really want to enjoy one day? Or perhaps find a way to maintain a lifestyle, even if your job situation changes?

For me, when my relationship broke down, having my side-business there, made it easy for me to start living a life that I wanted to live, fully on my terms.

It helped me to dream big and make decisions, not based on what others thought I should do, but decisions based on what I wanted to do.

Your second income can help you save for your dreams. Perhaps its to go back to college and get that degree or maybe start your very own business or blog.

How about planning for your financial future?

Do you have a plan on where you would like to be in 5 years time, and how does your money look at that time?

Plan now, work out your course of action, and get to work – your future self will thank you for it.

 

I really hope that by sharing these ideas with you, there are some great benefits to having an extra income stream.

You can achieve your money goals with more speed when you can focus on this area.

The amazing part is that there really is no time limit on when to get started, it really is up to you!

Are you already running a side business alongside a full-time job? I would love to hear from you and how it has made a difference to your life.

Leave a comment below

Thanks for stopping by!

Get ahead of unpaid bills 

Unpaid bills can weigh heavily on the mind and are no joke especially if you have constant phone calls reminding you that you owe money.

The monthly bill reminders are coming through in the mail and your email inbox.

Now is the time to stop hiding from your money problems and start facing up to them

If you are stuck and wondering how to move past this phase then firm action needs to be taken

It may not seen it, but there are helpful solutions that will help you get back in your feet

Granted, this change isn’t goin to happen overnight and it takes some determination on your part, but it is possible

There is a reason you went from being able to pay your bills to now being overwhelmed with your payments

It could be due to a variety of reasons

  • A job loss
  • Taken on more than you can actually handle
  • Not budgeting correctly
  • Payments going up unexpectedly
  • Other unexpected costs

Sometimes these circumstances are not self-inflicted or intentional, however the responsibility is there to be addressed

How to pay unpaid bills. How to manage your finances with these great tips. Easy tips to budget your finance and pay off your bills.

First step – Avoid Self-blame and Self-pity 

Feeling sorry for yourself gets you no where.

Real talk

I’ve been there personally and wondered why I’m such a mess or failure financially.

The feeling you have is horrible. I get it. The problem is, that negative self talk stays and plays on your subconscious.

Instead of getting positive results, you end up with what you’ve been getting all along

Change the narrative by focusing on your strengths. What you can and are doing to improve your situation.focus on the positive feelings when you achieve what you set out to do.

Instead of feeling sorry for yourself and low and insecure, feel strong and powerful, you can really make a difference

Step two – Write Everything Down 

The only way for you to make progress is to write down every unpaid bill that is outstanding

Even if it’s one payment – write down the outstanding figure owed.

Now to be clear, this doesn’t relate to debts you are current on, and actually doesn’t have to be debts alone, it could also be house payments such as rent, utilities etc.

Whatever financial account that you have, that needs to be brought up to date, is what we are talking bout here

Step three – Assess Your Current Finances 

Now this part is going to take some real self analysis.

Is the problem really because you have no money or is the problem there because you aren’t managing your money correctly?

This makes a huge difference to know how you can tackle the problem.

Run through your regular income vs regular and necessary expenses.

I say necessary expenses because let’s be honest, that trip to the nail salon might be what you need but instead that’s a few bucks going towards these payments.

Check out my blog post on how to start a budget here if you don’t budget already 

If you have expendable income –

Great! Decide based on what is outstanding how much you are going to put towards your bills.

If you don’t have any disposable income –

Either drastic cutbacks need to be made or you need to generate another income source ASAP!

Read my posts here for advice on:

Having a side job for extra income 

How to sell some things to raise money 

Step four – Face Your Lenders 

This part can be tricky and in all honesty might be difficult to do but it will benefit you heavily in the long run

I am in no way a professional in this matter so if you are in very serious situation financially you need to seek professional financial advice.

Here in the U.K. you can contact agencies such as StepChange who can negotiate for you. I have done this in the past and for me personally where I did pay off some debt it greatly damaged my credit for the long term so I recommend giving this some thought and research.

If you’re feeling brave and in control, you can speak directly to your creditors to see how you can work together and come up with a mutually satisfactory agreement to help you get back on track.

Most lenders want their money and if you’re open and honest with them, they will play ball.

Having these conversations will help you to decide on priorities for what bills to focus on paying off first and also how much money to put towards them.

Step five – Stick To The Plan 

I cannot stress how important this is.  One on occasion, I made the mistake of setting up a payment plan with a credit card I was behind on. Unfortunately, I missed the second payment and as a result, my plan was cancelled and they were asking for the entire outstanding amount!

Headache and more stress is ab understatement to say the least

Please don’t let this be you

Keep to the payment terms and follow these tips to help

Put a calendar reminder in your phone for the payment due dates

Set up automated payments

Keep a tracker of the payments and their payment due dates

Step six – Get Ahead Of Your Bills Quick

The idea of this is to pay off your payments and the quicker you can achieve this the better

See where you can contribute funds in your budget to bring those minimal payments down.

The more you can put towards payments, the quicker you can get on top of these bills and the better it will be, both financially and emotionally.

Step seven – Future Planning 

The aim is not to go back down the previous path of getting behind on your bills again.

So have a workable action plan for your finances, for the next six months and up to a year.

Getting ahead of my bills has been a struggle. I found some really helpful tips to manage my finances and budget. What to do when you can't pay bills. How to pay your bills.

If you have other debts, can you now focus on paying these off?

Can you use your new side income to save an emergency fund?

Practical thinking is the goal, I want to you know that you can gain control and improve your money for the better going forward

What other ways helped you to get on top of unpaid bills? Share your ideas and lets help each other

 

25 Ways To Make Extra Cash

How would like some ways to make extra cash? How about 25 new ways to make extra cash?

These days everyone is looking for a way to make extra cash, whether you have bills to pay, that holiday to pay for. The car or house of your dreams, student loans or other debts or maybe you just need some extra play money!

What is exciting, is that making extra cash on the side is in fact incredibly easy.  You just have to be opened minded and committed to putting in time and energy and hard work.

Let me share some ideas with you today. For full transparency, not all are tried and tested by me but hopefully these tips can leave you feeling inspired.

 

25 ideas for generate some cash on the side!



Take online surveys


If you’re looking for something you can do in the comfort of your home, maybe with that warm mug of tea, why not spend a few minutes filling out surveys. There are lots of websites that offer you cash or gift cards & vouchers just for voicing your opinion.

Check out sites like SwagBucks.com, paidsurvey.com or my.survey.com.

Mow neighbours lawns


Ok, I know in the UK its not always the greatest of weather. As British people we can be slightly reserved in certain things, but if its dry and you live in an area where this can be done, then why not? You’ve got nothing to lose by offering a service to your neighbours right? £5 for 10 houses (just an example) is £50 – need I say more?



Dog walking

If you have time on your hands in the day, you could offer to walk your neighbours dogs. An hour or two a day maybe once or twice might be a great way to supplement your personal fund.  And also, the more the merrier! Just remember that you might have to endure some lovely rainy walks too!

Baby sitting


Babysitting is a great way for stay at home mum’s and anyone who is great with children should definitely consider. If you are able to offer your skills locally, purchase some business cards and get the word out.


Sell old stuff on eBay

Did you know that your home could be the key to buying that new handbag? Llook around and think about the things you don’t actually use anymore. What are you waiting for? You would be amazed when you put it all together how much the small amounts really add up. Also a good clear out is a great mind cleanser too – win win!



Sell old CD’s & DVD’s

This is something you can do online and in a store. Just google in ‘sell cd’s’ and see how many results you get. Nowadays we download our music, but once upon a time, these were the thing. Well now you can get paid for selling these items so give it a go.


Car boot sales or Garage sales

The physical version of clearing out old junk, but in person rather than posting listings on ebay. You might get low sales but you have free reign to sell anything and everything you want and get rid of unwanted clutter.



Freelance your skills

Graphic design, VA work, tutor, hairdressing – whatever skills you have, can you do something with them on the side? Perhaps there is a skill you would like to learn, if so, why not take the opportunity to make some cash with it.


Rent a room

Renting a room can bring in a regular additional income each month. Spare rooms now can go for at least £80 a week which in a month is £320 a month. Websites such as spareroom.com are excellent platforms to reach out to people who might be looking in your area and also to advertise.

Obviously, its good to do your research on what you need to have in place legally to be a landlord or if your property allows for sub-letting.


Start a blog

Ok so honestly, this is a slow burner method, some bloggers don’t make money right away, HOWEVER it is still a way to make cash and you can do it whenever you like. A few hours a week to blog about your interest while using various advertising methods and perhaps selling products can help you to create another income.

Hire out goods

My first business was actually a wedding hire business. I literally bought samples of the products I would hire out, created a small business plan and go straight to work. I explained more in this post how I did this but its definitely a fun business model and very easy to get going.

Rent your car

Yep! It’s a real idea people. You can actually rent your car! If you live in a busy city like London this is a great idea. In a busy city people don’t always need transport but there are companies such as ZIPCAR which enables you access to a car when you need it.


Rent your driveway

Again some cities, parking is in hot demand. Here in London, you can literally rent a garage or driveway space. People might use for commuting to work or a place to leave their car for a time if they don’t have parking facilities where they live.

Work as Virtual Assistant

This is becoming an ever increasing business model that actually can be scaled up as much as you want it to. Some people work as associates for other VA’s so they don’t event start their own business, but they can enjoy the extra cash. You will need to have your public liability insurance in place as really it is still freelance work and you will have to declare your own taxes.

Mail outs

Companies will pay for you to send mailouts to their lists. Personally not something I have tried or researched but its worth looking into if you have the time.


Network marketing business

Otherwise known as direct selling opportunities. There are so many different types to choose from, not just health and wellness products either. This option however will take a bit of investment as it is a business opportunity but you can start earning as soon as you start working.

Cash in on a hobby

Do you craft, make or fix things? If you have a hobby you love, why not turn it into a small side business. Minimal investment and it wont feel like work because its something you enjoy doing. Ton’s of people have done this and find they are able to get some extra cash on the side as a result.

Create an Instagram features page

This will take more time as its about growing a social media following but it is no uncommon now for feature pages such as meme accounts, and other types of Instagram accounts to charge other users for shout outs as advertising. You can expect to charge from £5 upwards, depending on the size and popularity of your account. Not bad for just posting jokes once or twice a day

Uber driver

This business plan has made it so easy for people to actually run a business and flex around their lives. Based in the majority of big cities, Uber has afforded thousands of drivers the ability to earn extra cash or do this for a living.


Dog sitting services

Similar to dog-walking services, however, people going on holidays might not want to send their beloved pets to a kennel for an extended period of time.

So offering a trusted service can alleviate their worries and cash in your pocket.

Affiliate Marketing

The basic concept of affiliate marketing is that you are selling other products and earning a commission. This is done more online and is a huge form of income for bloggers, influencers, and other online business models. Depending on the products being sold, you can make small commissions to massive payouts.


Sell digital products

This idea can be great for those with a creative mind or graphic design background. Etsy is a very popular platform for digital products, selling graphics, fonts, online forms or wordpress themes. Many bloggers also use this as a way to advertise their own business services and sell their products to their audience.

Sell vintage clothing

I actually have friends who go to charity shops in affluent areas and find pieces they can resell on platforms like Ebay. Its hit and miss as to what you will find, however, a small bit of cash can go a long way.

 

Offer consulting services

Business coaching, fitness, accountancy services are some ways of providing consulting services on the side. Yes, similar to freelance but these would be more specialist.

Of course, if this is your actual form of employment, it is always good to be aware of your contract terms so not to put your full-time income in jeopardy.

Cleaning Services

Manual labour can pay out when you need a small bit of extra cash. If your schedule allows for an early morning, late night or weekend job then why not consider as a temporary solution to earning income.

 

 

So there you have it! My list of ways to generate extra cash to put towards whatever you like! 

When it comes to achieving financial goals, I really believe in doing what is necessary as it will pay off dividends in the future. If you put your mind to it, you can achieve whatever goals you are trying to get too. 

Is there anything that you have tried that’s not listed?

I would love to hear your suggestions, that I and others could use to leave your comments below.

 

Stop living paycheck to paycheck

Living paycheck to paycheck or having ‘more month than money’ is the absolute norm these days

Oftentimes, people get stuck in this cycle, through no fault of their own.

Bills take over and other financial responsibilities pop up that make it difficult to get ahead of your monthly income.

Finally some useful tips that I can use to help with my money! I love the ideas in this post and can't wait to try them out!

*affiliate disclaimer – this post does contain affiliate links which means that I receive a small commission if you buy, at no extra cost to you – please read my full disclaimer policy here – As an Amazon Associate I earn from qualifying purchases.

 

Living for payday, or the monthly paycheck does not have to be the ultimate goal.

Unless you are in a real financial crisis then it’s more than likely that there are ways to budget your income and break free from the cycle of living from one paycheck to the other

Difficult tho it may seem, it’s not impossible.

 

Understanding your money

Is it really worth sitting down and taking a fresh look at your finances?

Well, honestly, that’s completely up to you. The fact that you are reading this post tells me that you are fed up and do want more control over your money.

Money management is something that needs to be learned and if you have not done this before then no doubt it is going to take some time getting used to.

I remember the first time I went over my budget. I really thought I had no money, like my bank balance had a constant zero every single day.

Can you imagine feeling that stressed? I literally felt like I would go bankrupt if I spent a penny. Amazingly, when I finally braved myself to look at the REAL numbers, I had about £400 free to use after paying all of my bills and other expenses!

Imagine my surprise!

That extra money, helped me to pay off my first loan in the space of 4 months after saving a £1,000 emergency fund.

I learned how to get started after a good friend of mine recommended I read Dave Ramseys ‘Total Money Makeover’

Taking responsibility

I have never looked at my finances the same way since reading that book.

I completely understood where I had gone wrong in terms of money decisions, how I had linked my emotions to finances and falllen into the pattern of thinking debt was part of life.

For many, most who don’t actually realise it, they are living paycheck to paycheck purely due to bad money habits.

They are does not mean that you are completely on the breadline, they are just not being careful enough in watching where the coins are going.    

I’ve put together some tips to help you get the most out of your money and also inspire you to improve your financial circumstance for a better future

Read on to find out more

Plan for emergencies

This was no such an obvious one for me

For years I lived without an emergency buffer, so when things came up unexpectedly that u had to pay for, if I didn’t have the cash, then I used the credit card.

But that has to be paid for right? So you end up in the ongoing cycle of putting money where it doesn’t need to be.

Make life easier by having a small emergency fund. In his book, Dave Ramsey encourages building an emergency fund if £1,000 and do so as quickly as possible.

What that does for your peace of mind is so amazing I cannot recommend you making this your first goal, but really only after implementing the next step…

Create a budget

For anyone who has not lived by a budget or know how to start one this can seem quite a boring task

But I want to break down the benefits for you as I understand them to be.

Having a budget gives you back control of your money. You decide where your money goes

You get to plan how much goes to savings, paying off debt, having fun, giving to others.

All of these choices however are within your means of course.

Knowing where your money is going once you get that paycheck is amazing. I can’t explain the confidence it gives you. You are no longer living like everyone else, working towards the next paycheck, instead you are planning for the next paycheck

Have a read of my posts to help you get started and also how to stay committed to your budget

Start a side hustle

This is something that is extremely popular these days and for good reason!

Starting a side hustle can add to your income and take the worry out of living on one paycheck

Some research online will show you many examples of others working a day job with another hustle on the side

What could you do?

Are you creative or have an intrrrst that could be sold as a product to people?

If you like teaching or sharing knowledge could you become a coach or a mentor

Could you freelance from what you do in your day job?

Or perhaps like me, you could start a blog! Learn how I set up my blog

Also read my post with some ideas on starting a side business

Find a better paying job or get a second job

Sometimes this is the truth we have to face.

If you have looked at your money and honestly, there is none after your paycheck then you need to find a useful solution

Looking for a higher paid job to alleviate stress of paying bills can help

So you need to train in some new skills or refresh on unused sills? Do this to improve your chances of getting a bigger paycheck

Figure out what you need that will help you feel more comfortable about your finances. I use the site www.salarycalculator.co.uk – there may be a US version if you want to try it. It gives you the take home pay to expect after tax so you can see exactly what is your lowest salary level you would to accept

I highly recommend doing some research on your industry and knowing where you sit in terms of others in your field

Of this is not an option for you then can you consider getting a second job perhaps.

Granted this may not be a good long term solution but if it’s something that can be done for a period of time until your finances are in a place where you can breathe a little more then why not.

It can be anything from evening cleaning to working a part-time weekend job.

Pay yourself first

This concept escaped me for a very long time. Longer than I should have let it

What this means is taking a portion of your money and puttin it aside for savings.

But this isn’t for an emergency fund. It’s for a future use, to use towards something for you. It can be any amount, £5, £10 or £100. The choice is yours and it can vary each month.

Try setting up a separate bank account and have a direct transfer go to that account as soon as you get paid

After sometime of putting money away you may be pleasantly surprised with the results

Learn to say no

I hate letting friends or family down. Especially when it comes to turning down invites for dinners out, holidays even a quick afternoon coffee.

Of course, we all need to have fun with our close people. There might be a point however where our money can’t keep up with the amount of fun we would like to have.

There is no shame is having to turn down an invite here or there. Do you have to use the words ‘I have no money’? Definitely not, however try suggesting an alternative solution that your wallet can handle.

It’s in your best interests to stick to the limits of your money. If anyone pushes you to spend more, quite honestly, that’s not having your best interests in mind

If you are in the same boat as me, living paycheck to paycheck is a pain. I want to take control of my budget and finances with these tips!

So in conclusion, living paycheck to paycheck is definitely not fun but with some pointers and a change of thinking, there is a way to end the cycle

My key takeaways for you:

  • Understand your money
  • Have an emergency fun
  • Take responsibility
  • Plan a budget – learn how to do this here
  • Increase tour income with a side hustle or second job
  • Pay yourself first
  • Learn to say no

 

Thank you so much for reading, I would love to hear your tips on what has helped you to stop living pay check to pay check and take control of your finances! Share your thoughts and leave a comment below.

 

 

Side-Business Ideas you can start from home

Do you ever find yourself wondering how on earth you can creating an additional income stream by means  of a side-business?

Nowadays it is almost the norm to have some kind of an additional income. The cost of living is rising, making it difficult to get ahead financially. Having a side-business is often the fast track way to meet your financial goals. 

Starting a side-business does not have to be difficult. If you have a key skill that people will pay money for, its worth putting in the effort to enjoy the benefits.

My experience with a side-business

My very first side-business was a linen hire business way back in 2013. I loaned out chair covers, sashes and table linens for parties and special occasions. It took very minimal investment to get started.

The first job I had, covered the cost of my inventory. This meant that within a short time, I was able to create a decent side income of about £500 per month and sometimes more!

I then used that income to invest in my  handmade card business. I closed my linen business and four years later I enjoy my full time job and my handmade card business on the side. Even though that income can be inconsistent at times, it has still helped me in so many ways. I would not change it for the world.

Now, my focus is to create a passive income stream through my blog. I want to create a way to make money without trading hours to get it.  As someone who works full-time, I would love to know that I can generate this income with minimal input required over time. That being said, obviously some work is required, however the payoff is significantly more when you compare the amount of work done.

Is it really possible to make extra income?

In one word – absolutely! As with anything, it takes real work to build up any form of income. I think we are so fortunate to be living at a time where the internet is full of so many ideas and inspiration to make money on the side.

All you have to do, is take a quick look on Facebook. You won’t have to search for long before you find someone working on a side-business.

What its even more amazing is that with all the people in the online space, there is still so much opportunity out there for anyone to join in and create their own additional income stream.

Perhaps the day job is just not enough anymore. That might well be the case for you. Now might be the time for you to seriously explore some ideas to get started.

It is a great opportunity for you to use your creativity and put your skills to work!


I have put together this small list of ideas to help get you started, but by no means are these the only ways you can make money online.


Virtual Assistant

Most popularly known as a’ VA business’, many virtual assistants work from home with many starting their business whilst still  at their day job.

If you are organised and have a flair for managing the life or business of another person then I would definitely recommend.

Virtual Assistant’s typically can charge about £20+ per hour for PA work and if you have specific skills you can charge lots more!

Some Virtual Assistant’s really focus on niche groups in their business, such as event planners or financial advisors, or they advertise a set skill such as the most popular Pinterest VA.

The choice is yours what skills you feel you have to offer and you can either choose to learn new skills to add to your offering or keep things simple.

For those who do not have the confidence to jump straight in as a Virtual Assistant, you can ask other VA’s to work for them as an associate VA. This is always at a lower price rate and you will need to have fundamental areas covered such as business insurances, however it is a great starting point.


Freelance Graphic design

Working as a freelance graphic designer is a great way to put your creative skills to good use. There is nothing better than being able to develop your skills and make some money at the same time.

Freelancing allows you to work on projects that you enjoy and help you to build an amazing portfolio. 

Areas of freelance design to consider include:

  • Business stationery and logos
  • Designing brochures and leaflets for a businesses brand
  • Creating and selling digital PDF products

Opportunities may also come up for you to contract with other companies on individual projects. This is a great way to open the path to turn it from a side-business to full time income.


Web designer

Do you have some skills in WordPress or the wonderful world of coding?

This idea might be just for you.

With most businesses taking things online there are lots of opportunities to get involved in different projects as a freelancer and enhance your portfolio

Working on different platforms is a great place to start and then offering premium packages and even web management can be a good earner.

If you have the skills, then you could look at designing and selling WordPress themes. 


Proof-reader

You would be surprised as to how many businesses actually use proof-readers.

Lawyers, Accountants, Bloggers, Writers, Publishing houses to name a few, are some of the types of industries who look at proof-reading services.

Proof-reading is a great side-business which can be done from the comfort of your own home and in your own time. For busy people who work full time or have families to look after, it is a good side-business to fit within your lifestyle. 

Start a blog

This has to be by far the most popular of all the ideas listed here in this post.

I have been obsessed by the many people who have proven over and over again that you can blog and make a great income. 

There are no secrets that a lot of real hard work goes into growing and maintaining a blog. As you will read over and over, with consistency and hard work, this can turn into a real earner in the long run.

In this case, blogging is definitely more of a long-term solution than a short-term quick fix.

What is so great about having your own blog? Mostly that you can use your platform to diversify your income streams with affiliate marketing, sponsored posts and offering your services.

Its your side-business to direct as you see fit and you can do this from the comfort of your home.

Photography

Ok so this is not necessarily an at home, virtual business, BUT it is a great side-business that you can use if you have a strong eye for amazing pictures and love being behind the camera.

There are so many photography niches to consider:

  • Wedding photography
  • Newborn baby photography
  • Professional / Business photography
  • Boudoir photography
  • Fashion / modelling aphotography photography


Online Coaching

Coaching has been around for a very long time. Coaches support their clients to improve on various areas where they feel they need help.

There are different areas to consider such as:

  • fitness
  • business
  • love & relationships
  • money
  • mindset & personal development
  • lifestyle


The best thing about this style of side-business is that you can set how much time you wish to work with your clients.  You are still trading time for money but as you gain momentum then you can raise your price.

Many coaches provide online communities such as Facebook groups. These are amazing at helping others to connect in a safe and likeminded environment. Another way of helping others, is by providing great content online. By this method, you can actually help people virtually and is a good way to leverage digital programs for your clients.

A good coach has a wealth of experience and a genuine interest in helping others improve their current situation. If you enjoy solving problems and inspiring others to do more and be better, then this might be for you.


Instagram Influencer

I’m sure when you think about a side-business, Instagram does not instantly spring to mind.

Did you know, the majority of meme accounts that make you laugh and you share with your friends, are actually making money behind the scenes?

Instagram feature pages, charge businesses for shoutouts and advertising depending on the size of their following.

Its no secret that Instagram is now a top platform for creating additional income.

Whats great is that you can have an account for anything you like. Focus on building a loyal and engaged following. As you gain popularity, then you can look for opportunities to market other accounts. This would be through you for paid shoutouts, advertising and more.


Handmade Craft Business

Handmade crafts are very popular business ideas. Platforms such as Etsy and Instagram that make it so much easier to reach your potential customers and make sales. 

I can say from my own personal experience, there is nothing more satisfying than others enjoying your creations.

 Instagram and Pinterest are great places to use to drive traffic to your shop. Orders can be created at home and in your own time. 


Copywriting

Are you great with words and attracting people to take action? Then this might be up your street.

There are many business opportunities for work. People will outsource because they either dont have the time or skill set for creative writing.

Build up your presence by networking on social media online and offline and get your name out there.

 


There you have it! Like I said at the start, these ideas are definitely not the only ideas out there. They are also not new, but maybe you just have not thought about these options.

This post is really to show that you CAN generate another income stream online. All you have to do is put your mind to it and get work. I have done it, so have many others! 

What ideas do you have or are working on now to add to your income stream? Comment below!

 

How to deal with the emotional impact of debt

Living with debt for many people is a normal way of life.

For many different social circles, more so in the western world, it is considered the norm to have credit card bills, car payments, student loans and the list goes on.

The new influencer lifestyle adds a new dimension to the pressure of keeping up with others.

Some have fallen into debt however, not through keeping up with the joneses but through unintentional situations that gave them no choice. Leaving them struggling with loans or massive credit card debt.

For example, relationship break-up’s such as divorce, can severely affect a person’s financial situation. It is said that it can take a person 4 years to recover from a relationship break down from a financial perspective.

Dividing of assets, learning to live on one income, being left with someone else’s debt to pay creates massive financial problems for a person.

What are the results?

The results of these issues, can leave a person feeling completely overwhelmed, helpless and weighed down with anxiety.

Do you find yourself constantly replaying mistakes that you are unable to change? It is the easiest thing to do. Sadly not the most productive.

Even more damaging, is the temptation to bury your head in the sand. We all know deep down that ignoring the problem will not make it go away.

The guilt that takes over your mind can be overwhelming. You want to move forward in life but your current financial circumstance is holding you back. 

If you find yourself in this repetitive cycle, I can assure you that you are not alone.

There is hope to start again

To work your way out of debt takes more time, energy and motivation than it does to get into debt.

Whilst I admit, I am no expert on counselling matters, I can speak first hand of the emotional hurdles I have had to overcome in my experience of living with debt.

I will say that if you are facing deep and extremely serious financial problems, then please seek out professional financial advise or counselling that can help you.

Financial mistakes can make you feel like a massive failure. When this happens, its all too easy to allow yourself to fall into the trap of self-doubt, depression and no action is actually taken to solve the problem.

Looking back, I know that there were opportunities where I could have either avoided or paid off  debt. Instead, my emotional mindset was set in a way that I just could not see past the problem.

That is just one point to show the powerful influence your emotions can have over your finances.

If I can help just one person avoid the same mistakes, take a step back and see the light at the end of the tunnel, then this post is worth every bit of my time.

 

how to handle the emotional impact of debt

 

Acknowledgement then acceptance

First knowing that there is a problem is a huge step forward. Second is that of acceptance.

Acknowledgement of the problem allows you to be open to the severity of what your financial situation is.

It opens up the path for you to really see what went wrong. Perhaps there are spending habits that need to be changed or you can pin point one specific moment that changed your finances.

Acceptance is knowing that there is something that needs to be fixed.

This is not about what others think or how they see you, its about bringing awareness to yourself and owning that.

Debt is not a life sentence

Debt does not have to run your life forever!

Banks and other financial institutions may want you to think that way, after all its their business, but it does not have to be that way.

You might be surprised, after assessing your level of debt, and putting a plan in place, that you can in fact be debt free in just a few years.

While there is a culture of people in debt, there is a culture of people getting OUT of debt. Focus on these people.

Start to view it as normal to work your way out of debt. Set a timeline, an end goal of when you will be debt free and how you can work towards it.

Focus on fixing the problem

In this situation, you have a choice. You can focus on the negative or you can push all the emotional weight to one side and focus on fixing your debt.

Easier said than done for sure.

Here is where you have to be practical and logically take steps towards addressing the problem.

You might need to start a new budget to help you work towards paying off your debt.

Perhaps you need to find a way to increase your income or take on a second job. Increasing your income will give you more money to put towards your outstanding debts.

Speak to your creditors and find out what the outstanding debt amounts are, and if you can negotiate payment options or even a settlement figure to close the account completely.

Take back control to improve your confidence towards your finances.

Small wins will have you walking tall and will do wonders for your state of mind.

 

How to handle the emotional impact of debt

Have supporters

Being in debt is not something we usually shout from the rooftops. In my case, I felt extremely ashamed of myself and did not want to feel judged by others.

There were only a couple of people, very close to me that I felt comfortable with to share what I was going through.

You only need a very small support system, even one person who you can offload to and trust that they have your back.

Share with them your goals and what you are working towards. Let them cheer you on and motivate you, especially when it gets difficult or you just want to give up. You need someone in your corner.

Forgive yourself

Remember when I said at the start that you can blame yourself for past mistakes?

Forgiving yourself is crucial to overcoming the emotional scars of being in debt. We are all only human and no one walks through life error free.

Mistakes become lessons we learn from and can help others in the future.

Forgiving yourself takes the pressure off by allowing yourself to be human. You are amazing, but not perfect, and thats ok.

When you fall down, just dust yourself off and start again.

 

Dealing with debt especially over a long period of time can be draining.

Some financial situations are much more difficult than others. Please, if you are facing extremely serious financial problems, then please seek out professional financial advise or counselling that can help you.