Quick Jobs When you Need Money

We have all been there, cashless and needing to make a buck quickly. There are numerous ways to go about making a quick buck, including some that can easily turn into a career for the independent minded.

When you are in a bind and need money now there are no such things as a free lunch, each one of these tasks requires some skill and dedication. If you have both, it is possible to make a quick bit of cash.

Freelance Writing

Someone has to write those posts you read online. Companies and independent sites are constantly vying for readership, and that requires fresh content from a variety of different authors. Apply to be a guest blogger, numerous sites pay. In addition, freelance sites offer ‘gigs’ that pairs clients with writers. These short jobs pay quickly, and help you build a good reputation within the community.

Run Errands

People are busy, often too busy to remember to do basic tasks like drop off the dry cleaning or pick up packages from the post office. Numerous freelance sites can put you in touch with those looking for a quick bit of help, and the pay if often immediate (in the form of good folding cash.)

This is one of the most fast paced ways to make a quick buck, since your timing directly corresponds to how successful you are. Keep an eye on traffic, and utilize technology heavily in order to help you get from place to place as quickly as possible.

Street Performance

If you have a talent, use it to bring in some cash in the form of tips. Go to the local art district, and perform for the general public. If you are any good, people will leave you tips. If you are great, you will make enough to make it your day job.

Making money through the use of your talent has been the mainstay for those looking for a quick buck since the dawn of time. It is how most businesses start – a single person wishing to offer a particular product or service to the general community. As you go about making some money, think about how you can upsize your little operation.

With the right plan, you can take what made you fifty dollars today and turn it into something that can bring you a grand tomorrow. All it takes is dedication, talent, and an eye for detail.

How an Installment Loan Affects Your Credit Score

Understanding how an installment loan affects your credit score can be a bit tricky. These types of loans are far different than other unsecured debt which affects your credit. Installment loans are relatively stable types of debt that have a fixed payment schedule over a set period of time. So, where your credit card balance may fluctuate, and directly impact the length of time that you will be paying on that card, an installment loan has a very clear ending as long as payments are made responsibly. Excellent examples of installment loans are mortgages and automobile loans.

How Installment Loans Differ from other Debt

Installment loans certainly affect your credit, and if you make your payments in a timely manner, you will see a gradual, steady improvement in your score. However, the improvement isn’t profound initially, even if you pay off a significant balance early. Why? Well, an installment loan is generally tied to collateral, which is important to your life. For instance, with a home mortgage if you quit making your payments, your home – the loan’s collateral – will eventually go through foreclosure. If you neglect to make your car payments, your car will eventually be repossessed. Obviously, most people do all that they can to keep these terrible events from happening.

However, when dealing with other kinds of debt, such as credit card payments, a borrower shows their true meddle. You see, if you get behind on a credit card, you may accrue late fees and lower credit ratings, but it isn’t likely that you’ll lose anything immediate and significant in your life. As a result, the first bills left unpaid are these unsecured debts.

Risk Predictors

Because of the inherit differences between installment loans and other kinds of debt, they impact your credit score differently. Both typically are documented on your credit report, as well as how well you make your payments. However, because credit card debt carries fewer immediate consequences if you fail to pay responsibly, they are better risk predictors. The thought process is that if you pay these kinds of debt the way that you should, you are a pretty good lending risk to take.

While installment loans do affect your credit score, you won’t see as much quick progress with these types of debt as with paying other unsecured debt responsibly. However, gradual improvement will be seen over time. Certainly, if you pay your installment loans in a timely manner, they won’t have a negative impact on your score.

Why ‘Bargains’ Aren’t Always Such a Bargain

Here’s some sage and simple advice; never purchase anything just because it’s a “bargain”. The simple, unavoidable truth is that if you don’t actually need something it isn’t a bargain but instead a cost,  and if you purchase it then it’s a waste as well.

If you need a good example let’s take a new laptop computer. For the sake of our example, let’s say that you already have a laptop computer that works just fine. Now let’s also say that you’re at Walmart and you see a new computer that’s $1000 new but at a 25% “discount”.

Most people would say “Wow, what a bargain!” because they would be able to save $250 but, since you already have a computer that works just fine, that “bargain” would, if you purchase it, actually simply be a $750 expense. Since you don’t need a new computer, it’s even worse because it’s money gone that could have been used to purchase something you actually need or, even better, to put into a savings account.

The only way to truly benefit from a price that’s been discounted is if you actually need the item, will use it regularly and will keep it for a long time.

The unfortunate truth about modern life is that, between all of the catalogs we receive in our “snail mail”, and the barrage of online advertisements from the likes of eBay, Amazon and hundreds of other online retailers, we’re literally awash in temptation to spend money almost every moment of the day.

Herbert Simon, the Nobel prize-winning economist, says that “a wealth of information creates a poverty of attention,” and goes on to say that “our busy, busy brains have been on overload for eons, and [they are] still being constantly bombarded with enticements to believe anew that we need more possessions to make us happy.”

If you’re a shopaholic, you probably now hate Herbert Simon.

Whatever the case may be, here are 2 extremely important questions that you must be able to answer before purchasing anything. If you can’t, the item you’re considering buying should be left on the store shelf (real-world or virtual).

Question 1: Do I actually, truly need this item? If you can’t say with all certainty “yes”, the item isn’t an actual necessity like food,  or you already have something similar sitting at home, making that purchase is not the smart financial move.

Question 2: How will this purchase affect my financial plans? If you’re ready to make a purchase but already wondering to yourself how you’re going to pay the utility bills, buy food for the week or put money into your savings account, you should put your credit card back in your wallet or purse.

If you’re struggling to get out of debt or don’t want to find yourself in deep debt sometime in the future, keep those two questions in mind every time you purchase anything that’s not essential, and keep in mind that very few things actually are essential.

In other words, you can hate Herbert Simon if you want to, but at least keep his words about “possessions making us happy” in mind, especially if you want to stay debt free.

The Importance of Setting Goals for Single Women

Goal setting is no doubt important for all people, but for single women, especially single moms, it’s even more important.

The truth is, many single moms can “get by” without goals or a strong direction in their life, but their lives will be mediocre at best and much of their time will be spent worrying whether or not next month’s bills will get paid. (In other words, forget about the “finer things” in life like travel and vacations.)

Without goals a single mom will always be living below their potential and will never be able to create the life that they, and their children, really desire or deserve. Things like a nice home, healthy and nutritious food on the table and, in the future, other things like college and travel.

The good news is that  setting goals isn’t all that difficult and, when you do, you’ll have a sort of “roadmap” that helps you harness the energy you need to get things done, focus on the things that are important in your life and get more accomplished than you ever thought possible.

One of the first places to start is to make short-term goals that help you to start moving in the right direction. Think of them as “stepping stones”  that lead you on a path to financial success.

One of the most famous painters of the 20th century, Pablo Picasso, believed that goals are extremely important in anyone’s life. One of his most famous quotes is this one: “Our goals can only be reached through a vehicle of the plan, in which we must fervently believe, and upon which we must vigorously act. There is no other route to success.”

In other words mama, without a plan you can’t reach the destination, or without a goal you can’t become financially independent.

Goals will help you to focus your attention on what’s really important because, let’s face it, everyday life can be a bit overwhelming, especially if you have younger kids that are constantly  in need of care. Small, achievable goals will give you the “game plan” that you need to make better decisions about practically everything, especially finances. The fact is, nearly every decision that you make will somehow affect your finances.

Getting into the habit of setting, and then checking, your goals can help keep your buying habits and impulses “in check” and will help you to keep your financial fortunes on a positive path. They help you to make better decisions, especially when temptation arises, and can keep you from racking up huge amounts of debt.

Think about it this way; would you rather have a closet overflowing with  clothes and shoes or the money to put down a deposit on a home of your own? Setting goals for yourself can help you make either one of those a reality.

We’ll end today’s blog with facts from author Thomas J Stanley, PhD. He wrote the book “Millionaire Women Next Door” in which he found that, among self-made female millionaires, fully two thirds of them set clearly defined goals for themselves on a daily, weekly, monthly and yearly basis.

All of these women reported that they had a solid history of planning and then achieving their goals, and became millionaires in the process.  They used goals and goal setting to do it and, now that you know how important goal setting is, you can do it as well.