Reasons You Need to Make Extra Money from Multiple Incomes

Earning an extra income can entirely change your life. You don’t always have to wait for a paycheck after the other. But then, there are still people among us thinking that making extra income is impossible, while others are paying their debts using income from their side hustles.

It’s genuinely possible to earn extra cash. It may be frustrating when you’re just beginning, but you’ll understand its worth after achieving your goal.

Here are reasons why you should earn extra income:

  1. Probably, you have time.

We all have had that extra time that we choose what to do with it. Most of us don’t use this time well. Within the twenty-four hours that each of us has, it’s worth using some of it to make an extra coin.

If you keep wasting your time every day, it may be hard for you to achieve your goals. Adults choose what to do with their time, but it’s unfortunate that they use it to do things that wouldn’t improve their lives or even their financial status.

Procrastination is another big disease in the current generation. Don’t waste your time procrastinating and watching TV for thirty hours a week. If you convert this time into doing a side job, you’ll turn it into a lot of money you didn’t imagine.

  1. You can pay your debt off faster.

Paying a debt can be challenging, just like having the debt itself. If you don’t take caution, you may end up paying debts and remaining with nothing to feed your family, or even take care of yourself. What if you start a side hustle, which you’d use to pay off your debt? It’s very possible.

Debts have motivated many people to find ways of generating extra incomes. It’s better to pay off debt much earlier than ignoring it, and only an extra coin can do this and leave you feeling proud of yourself.

  1. You can test out a business idea.

Maybe you’ve been thinking of starting a business, and then quit your day job. But then, you have a fear of the business not working well for you, so you can’t risk your money in it. This is where an extra income comes in, to help you boost the courage of starting the business just to test the waters, so you may know if it’s worth quitting your day job.

  1. It can help you diversify your income streams.

You should never, at any point in life, feel too reliant on a single source of income. Anything can happen to your income source at any time without notice, and life has to go on. Or say, you lose your job; what happens next?

The Bottom Line

These are excellent ideas for earning extra income, and if you implement them, you can be sure of getting to another level of your financial freedom. If you need to understand more about making money, https://www.themoneysack.com/  is the site to visit.

Ways to Make Fast and Easy Cash When You Are Trying to Make Ends Meet

By George Talbot

Finances can be a source of stress for anyone, especially if you realize that your personal finances are going to come up short. If you sense that you might not manage to make ends meet for any reason, it is good to know what kind of options you have at your disposal to get your hands on some quick cash.

If you are curious about what your options are when you are running low on available cash, continue reading to find out where you can turn to make and borrow money in a pinch.

Take out a credit card cash advance

If you are in good standing with your credit card provider, you should feel like taking out a credit card cash advance could be a great option that will help you get out of the tight financial spot you have found yourself in.

One great aspect of this option is that just like other credit card purchases, a credit card cash advance can end up in your account almost immediately. After you take out a cash advance, your lender will make their money back by charging fees and interest rates.

Exchange loose gift cards for cash

Did you know that according to an ongoing report, Americans have about $41 billion dollars in unredeemed gift cards just lying around How mind blowing is that! You can use those old gift cards lying around in your kitchen cupboard to make some cold hard cash. Thanks to several websites online, you can instantly convert most gift cards into cash. The site Gift Card Granny is an online marketplace that allows gift card owners to sell their cards to the buyers that offers the best price.

In most cases, you will exchange your card for cash that will be deposited in your PayPal account. If you already have a PayPal account set up, you can transfer the money you make to your bank account in 24 hours.

Ask family and friends

This is going to force you to swallow a bit of your pride, but asking family and/or friends can be a huge help if you have nowhere left to turn. Your loved ones are more likely to by sympathetic to your troubles and will very likely offer you a loan with no interest at all. Where else are you going to get that?

The tricky thing is finding a way to borrow money without risking a fracture in the relationship. The best way to do that is to pay them back as quickly as possible, keep them updated on your financial situation, and show undying gratitude for their help.

Reach out to local charities

This option might force you to swallow a bit of your pride, but if you’re really in financial trouble and if you’re truly worried that you might be late on rent, and be evicted as a result, you should take advantage of all possible options.

Now is not the time to be ashamed about asking for help. Reach out to local organizations that could offer a helping hand. For example, the United Way offers a free service called 2-1-1 which connects those in need to local groups that offer rent, utility, and housing assistance. In most areas, you can dial 2-1-1 to confidentially speak to a trained professional who could help ease the burden. You can also visit their website online to get more information.

Take out a car title loan

A car title loan can be a great way for you to get your hand on some money in just a few hours. A title loan is a secured loan where you borrow money from a lender against the value of your car and the equity you have in your car. These loans are a great option for you if you do not have great credit, but do have a clean car title.

Car title loans are easily accessible online, and you can provide all of the documents necessary, and even prove the value of your car online. The downside of car title loans is that they do come with very high interest rates and annual percentage rates. The common payment term for car title loans is just one month, so if you are unable to pay back your loan within that time period, you could default on your loan and having your car repossessed by the lender you borrowed from.

Start driving Uber or Lyft

This might not help you if you need your rent, like, today, but if you own a car that is up to the standards of these two incredibly popular ride-sharing apps, you can make a ton of money during your free time by being a contracted driver.

On top of that, Uber and Lyft have both been known to offer sizable bonuses to new drivers who meet a certain standard within their first few weeks of working for the company. If you work hard to meet that mark, you can start make a lot of extra cash in a very short period of time. It can also be an ongoing thing for as long as you need extra cash.

Payday loan

If your back is against the wall and you need cash fast, a payday loan is a great way for you to get super-fast cash in your time of need. Still, there are things to keep in mind when you are considering taking out a payday loan.

First off, payday loans are typically only worth to up to $500 – so they probably won’t cover the entire cost of rent for a month unless you live in a cheaper rent area. Secondly, it is important to know that after you get the cash, the payment term is quite shorts and you’ll have to pay back the value of the loan, plus a very high interest rate, by the end of your term. While payday loans certainly have their downsides, the upside of the loans is that they can be very easy to get and typically only require proof of income for you to be approved.

In Conclusion

As you can see, there are quite a few options available to you in terms of fast cash when you need it most if you are in need. While some do come with considerable risk, especially bad credit or secured loans, they can help you greatly if you are in a pinch.

Hopefully, the steps you take now will help you avoid this kind of emergency in the future.

Good luck!

Seven Important Precautions To Protect Yourself Against Identity Theft

Identity theft? It’s a frightening idea, but people fall victim to identity theft every day. Identity thieves often see seniors as easy targets, so you need to be vigilant in keeping yourself protected. These seven tips can help to protect you against identity theft.

Empty Your Purse or Wallet

How many credit cards are in your purse or wallet right now? Is there a Social Security card in there? To be safe, only carry the cards that you absolutely need at any given time. Leave everything else at home in a personal safe. If you’re ever robbed while you’re out of the home, you’ll only have to worry about cancelling one or two credit cards.

Start Using Your New Medicare Card Right Away

If you’re enrolled in Medicare, then keep an eye on the mail – you’ll have a new Medicare card arriving soon. Medicare is releasing new cards that no longer contain your Social Security number – an important step forward in helping to protect you against identity theft.

Rather than your Social Security number, your new card will feature a Medicare Beneficiary Identifier number. This number is randomly generated and assigned, and means that you will no longer need to provide your Social Security number to doctor’s offices or other medical providers when using Medicare.

These new cards are being mailed out now, and all cards will be mailed by April of 2019. When you receive your new card, start using it immediately. You should cut up your old card so no one can access your Social Security Number.

Shred Your Documents

It may be a simple tip, but it’s worth remembering – shred any documents containing personal information before you throw them out. This means credit card offers, voided checks, and more. To be even more safe, divide the shredded pieces up between different garbage cans so there’s no chance anyone could piece them back together again.

Don’t have a shredder? Keep an eye out for community events that offer free document shredding.

Set Up Your Computer Correctly

Your computer is a potential source of personal information for hackers, so it’s important to set it up correctly. Make sure that you’re using the most up-to-date version of your internet browser, and invest in a quality anti-virus program.

When surfing secure sites, such as when you’re doing online banking or paying your bills online, never use the “save this password” feature. It’s also important to create unique, challenging passwords for each site. Make them difficult for anyone to guess, and avoid using common passwords like a pet’s name, a child’s name, or a birthdate.

Use Social Media Privacy Settings

An identity thief could learn lots of information about you through your social media account. If you’re active on social media, then take a few minutes and check your account’s privacy settings. You should make your account as secure as possible, and make sure that any information you post is made available only to your friends. Only add friends whom you actually know.

Monitor Your Accounts

Keep a close eye on your credit card statements, your bank account, and your credit score. Some banks and credit cards even offer free services where they’ll promptly notify you of any charges they find suspicious.

If you notice unusual charges, dispute them immediately. The faster you report a fraudulent charge, the less damage a thief has the ability to do.

Set Security Freezes

Security freezes will freeze your credit reports, meaning an identity thief can’t open up a new credit account by using your name or Social Security number. If you don’t plan to apply for new credit, such as when buying a new car or applying for a loan, then you can set up a security freeze to add to your safety. All three credit bureaus – Equifax, Experian, and Transunion – offer security freezes.

Identity theft can be damaging, stressful, and a long process to resolve. Use these seven tips to make it far more difficult for a thief to access the information they need to steal your identity.

 

Author Bio:

David Haass is the COO of Elite Insurance Partners & MedicareFAQ. He’s a visionary with experience propelling innovation in the insurance field. Highly regarded for driving industry standards in client experience and cutting-edge technologies. Active contributor on the Forbes Financial Council, recognized for building brand trust and establishing strong customer relations, motivated by a genuine desire to demystify health insurance options. You can follow him on Twitter.

Image source: PBS.