There are many benefits to being self employed, and that is why so many people are allured by the sound of it. Get to be your own boss? Check! Get to make your own hours? Check! Work at home? Check! Freedom? Check! However, there are mistakes that you might make in the beginning if you are too quick to rush it. Being self employed and creating your own job can and probably will be very hard work for you, especially in the beginning. There are many things to think of and many things to be careful with. Not Separating Money At first, you might have all of your income flow into one account. Eventually though, you should have your income and expenses come out of a business account. It might seem easier to just have it all go in … [Read more...]
How To Get Hired Freelancing
As most of you know from my income stream reports, I do a lot of freelance work. The funny thing is, I never intended to do any of the work that I currently do, I just sort of fell into it. I actually tried to do some freelance work purposefully, and it didn't work out as I had planned. So, from both my successful ventures, my failures, and the offers I currently get now, here is my advice on how to get hired freelancing. Fill a Need I started my freelance writing business for two factors that lined up at almost exactly the right moment: I wanted to earn extra income A major player in the freelance writing business suddenly up and closed their doors As it turns out, since I'd been blogging for a long time, I could pick up … [Read more...]
How To Invest To Generate a Passive Income
Generating a passive income is hard to do, but there are many ways to do it. I will cover the most common and basic ones here. It is important to note that most income is not truly passive in the sense that no work was required. However, in my examples below, you will see how the income is now passive since the work was done prior to the income being made. Passive Investment Income The first major way individuals generate passive income is through investments. This can be done because many investments distribute gains in the form of dividends or distributions. These dividends and distributions are income, and many people are able to live off of them. A common strategy is to put together a portfolio of high dividend paying stocks. In … [Read more...]
