Posts Tagged ‘Making Money’

Closing Your Business For Weeks

Thursday, December 19th, 2013 by

Today I went to get a haircut and learned some bad news as apparently the shop owner was going to close the place down for over two weeks due to her dad being very ill to the point where he probably isn’t going to live much longer. They are located in a different country and so this will require her to travel. Financially this is one of situations too where as a self employed business owner if you don’t work you don’t get paid as there is no such thing as paid vacations here.

I was then asking why she doesn’t simply keep the place open and have whoever she trusts the most to keep the business running while she was away as she has done that in the past. She mentioned how it simply isn’t the same when she isn’t there and when she does that she constantly worries if anything is going wrong with the place. As a result, she felt it’s best to just close the place down as she doesn’t want to think about business and money during the upcoming weeks.

It’s not something you would think about normally in terms of who can take care of things if you aren’t there. I guess in examples like this it is even more important to plan for situations like these as a business owner.

Generating More Self Employed Income

Sunday, December 8th, 2013 by

I was reading this interesting article today about how a lot of generation Y people are having a harder time financially compared to the previous generation. Interestingly enough, some of the universal points were factors such as people going to school for lengthy degrees whereas in previous generations people would start working full time jobs a lot earlier with less education. At the same time, a lot of companies nowadays increase its bottom line by constantly hiring people as contractors to avoid having to pay people benefits.

While it all sounded kind of gloomy, I was thinking how at the same time a generation Y has so much more business opportunities to generate an income compared to the previous generation. In a sense, you can earn the same if not more. The key I think is that you can’t think and do things exactly the way people in the past perceive as the “right way” when it comes to generating an income.

For example, I highly doubt that my parents had the flexibility to generate an online income where with things like an e-commerce site you could easily have a self functioning business of sort that will keep working while you are sleeping. But with the obstacles that a generation Y person like myself must go through then maybe it’s necessary to venture into things like this.

Even thinking of a funny example, how easy was it way back where someone could self publish a rant video that could generate a respectable income source? Probably not as easy as it is today. At the same time, I personally believe people should get more in-tune with opportunities like these as in the past I am pretty sure people would say if you want to make money during school then go to that fast food restaurant or do that paper route. Nowadays, I personally think it’s more entrepreneurial where if you aren’t making enough money then you need to take advantage of the opportunities and resources we have today to create something out of it.

Tying Down Your Funds In A Gift Cards

Sunday, November 10th, 2013 by

I was reading how for one of the local malls here they are having a promotion where if you buy a $500 gift card, which could be redeemed at any of the stores in the mall, they will in-return give you a 10% bonus of that amount. So you would essentially get $50 extra. To me that sounded like a lot. The only thing I was debating though was that this is a gift card that would essentially force you to shop in the places at the mall. At the same time, do I really plan to spend almost $500 this year solely on the stores within this place?

I was thinking it the other way too where within a month is there any other way I could make more than $50 with a $500 investment where it would be silly to not do that instead? This is one of those scenarios which I thought would make a lot of sense 100% if you got your friends and family involved in it too. For example, it’s probably more realistic to assume that each person would spend about $100 at the mall. So if you get five people then this could make it that each person gets a $10 bonus and there are more odds that people will actually use all the funds in a non forceful way.

Just the idea of having a large amount of funds in a gift card makes it more likely you will simply use the money on anything just to get rid of it. Example, walking past a food vendor and the saying why not as you have so much money in that card anyways. It’s almost like having too much accessible cash in your wallet or purse.

An Unconventional Career

Saturday, October 26th, 2013 by

I thought this was kind of humorous as I was reading some news speculation about a Twitter feed as a highly known person was giving out very vague messages as if he couldn’t reveal all the details due to legal reasons. This then created speculations on what the situation was about. Since the person made a living making videos on places like Youtube there was then all these comments on how if it has something to do with the company restricting his ability to earn money through that platform then that’s a good thing as now he will have to get a “real” job.

It kind of boggles my mind how people wouldn’t consider what the person does as legitimate “work” as I’m sure it takes a lot of time and marketing to make anything like that into a respectable income stream. You could almost argue it’s virtually no different than starting any kind of business. Otherwise we can then debate that a person that plays an instrument or an individual that plays a sport for a living isn’t involved in a legitimate career.

The other thing this made me think about is how I guess the big thing when it comes to things like this is one’s mentality and recognizing that just because you don’t quite understand something doesn’t mean there is no opportunity in it. Example, just because one guy was taught in a classroom that you can’t run a vehicle without oil doesn’t mean there aren’t other ways to do it. Should be the same thing when it comes to making money too. Or more specifically, making a career out of something.

Spending The Same Initially When You Make More Money

Thursday, October 17th, 2013 by

A person was telling me today on how he now has things like a car as the new job he has been doing pays a bit more than what he used to do. Indeed he seemed to have updated a lot o his belongings as well. The interesting thing was when I mentioned that he must be able to save a lot of money now he mentioned not really as it is about the same. When you think about it not much changed too in terms of his needs. But because he made more I suppose he figured it’s time to buy the luxuries of life.

I think in like these situations trying to stick to your original budget for at least a year can probably do so much good. For example, imagine if he didn’t get the car but instead stuck to using the transit for another year. He could have probably saved up a large amount of money as a result. It’s better than having the risk of being in a paycheck by paycheck scenario. Who knows too as this grace period could make you realize how little you actually need when it comes to things like these. You can invest your money in other items to help you earn more too instead.