Archive for the ‘Making Money’ Category

Monetization or Employment Money For Your Work Passion

Saturday, November 8th, 2014 by

So today I attended a local event that revolved around independent journalism and it seemed like it was trying to raise awareness about it. I am no journalist myself, but over the years I have made blog posts which seemed to garner a lot of attention such as exposing certain business opportunities or people with questionable business practices. As a result, I noticed that it helped many people as if it was a piece published in say the local news or paper. So it got me curious about the types of news that get published from other sources that aren’t so mainstream.

The first point that was expressed about the life of an independent journalist was the money. Essentially, it sounded kind of depressing as people were saying as much as they love the work it is unstable and that they implore people to have an actual job. I also heard during the crowd participation that for the most part people work on an honorarium basis and at times people mentioned they have to start valuing their work and expect to be paid for it. However, due to the competitive nature of the field you can’t just do that. Therefore, many simply focus on other things to simply survive as opposed to following their passion.

I was thinking how this sounded eerily similar to the life of an artist. However, I think the main difference is that most artists are probably prepared to be in a starving artist mindset whereas something like journalism would initially sound like an office job with a stable income. At the same time, I would say an artist is more likely to try and find ways to make an income out of their passion even if no one hired them directly. That then got me to read how some independent journalists use various funding and sponsorship sources that even an artist would use with great success. In some ways it was surprising that the concept of it was foreign to them.

I’ve never tried this myself, but I have often heard that a lot of people online who pursue some kind of passion but obviously need money to survive use sites such as Patreon to do so. Essentially, you are changing the mindset of trying to find like an employer but rather sponsors or supporters. I was thinking about this too where isn’t it easier to try and find ways to monetize your passion as oppose to someone who will employ you to do it in these types of cases?

All Those iPhone 6 Reselling Stories

Friday, September 26th, 2014 by

I assume most people have been hearing constant stories on how a lot of people who have purchased the iPhone 6 are simply doing so in hopes to resell it. I’ve read figures such as how people are able to resell them for $2000+ US. This of course sparks the usual debate on whether or not it is ethical to do that or at the same time if it is even worth it financially.

While I personally wouldn’t be a fan of this, it makes me wonder how reselling it is any different from other forms of commercial attempts to essentially make money off of a hyped of product like this. For example, some people buy the phone just to publicly destroy it where they then make money off the attention that they get. Is there really any difference between that and reselling it as an example? It all equates to taking advantage of an opportunity to profit from it I think.

When you look at the crazy extent some people are willing to go through to get the product it’s almost crazy not to capitalize on it. The wackiest news I read was some guy who was actually carrying a sign that he would rent out his girlfriend to raise money to buy an iPhone 6. You can read it here: http://news.asiaone.com/news/asia/chinese-student-rents-out-girlfriend-buy-iphone

If anything, I think it’s a little crazier that people are willing to pay that much for an item that will be outdated in no time.

Mortgages For Investments

Friday, September 19th, 2014 by

A person was telling me that they recently invested in some real estate worth a little over $100,000 with the intent to rent the place out to get some extra income. He couldn’t afford to pay everything all cash and so he opted to get a mortgage. All in all, it worked out to something like since the mortgage was about $500 a month, if he rented the place for like $900 he would essentially earn less than $400 a month before tax if we include all the other fees of owning a property.

The one thing that kept getting stuck in my mind was how much money you lose in a year as a result of having to pay the mortgage fees. He was probably about $50,000 short from being able to simply buying it outright with cash. In many ways it is really risky too such as if you don’t have a tenant for whatever reason it could end up costing you money. I know for a home in general for personal use I am inclined to say if you can’t afford it outright then maybe it’s not your time to own an expensive house. For investments like this though, maybe it’s not too bad of an idea as technically like in this case you are making money as long as you have everything setup to do so.

Selling Your Work Versus Selling Your Service

Tuesday, June 10th, 2014 by

I was talking to a photographer today who appeared to have been working at random jobs in an effort to make a living. Her specialty appeared to be in photography and of course that usually means trying to find clients or your next job all the time. I then mentioned about things like selling stock photos and funny enough she never even thought about it. After mentioning how some photographers make a very good living that way she immediately wanted to investigate into it.

I suppose in many ways that is an over sight for everyone who is self-employed and runs a service based business. If you do offer a great service why not think about the idea of turning your service into a product that you can sell as well? For example, a painter can wait for someone to hire them to paint a project or they can create their own paintings in the meantime as well and sell their work. A good alternative as opposed to only waiting around for people to call you I think.

Changing To Night Shifts To Make More Money

Sunday, October 6th, 2013 by

Today I was reading how this one person needed more money and instead of finding a new job or additional part-time work he opted to work the graveyard shifts at the place he already works at. Based on what I saw too he got like an extra $5 an hour based on that alone. I suppose the pay is basically because there are less people who are willing to tolerate those kinds of working hours and so a business needs to pay more to encourage people to take them.

For myself once in awhile would be okay. But making it like a full time career seems a little excessive to me as I am one of those who are inclined to say working those late night hours probably isn’t too good for you health. Is it worth it though in the end simply to make more money faster? I suppose that is simply a personal preference for everybody as obviously there are people who work during these hours for a living. Either way, it’s and option I suppose if you are thinking of ways to make more money.