Supplementing Your Income

Courtesy of: FeedThePig.org

Supplementing Your Income

If you've reduced your monthly expenses but still find it hard to save each month, consider additional sources of income—which doesn't always mean working a second job on the side. Look for income sources that are flexible, sustainable and enjoyable. Here are some ideas:

• Become a virtual assistant – Virtual assistants are individuals hired to perform duties online that don't require a physical presence, such as conducting research, designing websites, writing articles and making reservations.
• Start a home business – Turn your skills and hobbies into an additional income source. Home businesses are often inexpensive to start and easy to grow and promote via the Internet.
• Write a blog – Earning a little extra money can be as easy as blogging from your home. With free or low-cost blog publishing tools, you could turn a small time investment into extra savings.

There will always be opportunities to earn extra cash. Research these and other methods of earning supplemental income to help feed your emergency fund and retirement savings. Read more on keeping an emergency savings account.

Clean the Slate for a New Year

Courtesy of: FeedThePig.org

Clean the Slate for a New Year

With the start of a new year comes the chance to leave behind any bad money habits from 2008 and start fresh with your financial goals. One of the most important things you can do to jumpstart the New Year is to take time to assess your finances. Here are some simple tips to set you on track for a financially successful year:

• If you can't afford it, don't buy it.
• Create a monthly budget and stick to it.
• Live within your means: evaluate your finances, and cut back on unnecessary expenditures. This can dramatically reduce your incurred debt.
• Keep up to date with your monthly payments, such as those for a student loan and mortgage. Missing a single month could cost you thousands of dollars in interest down the road.
• Reassess your life and car insurance policies. You could potentially save money by switching to a different company.

Commit to these and other positive financial behaviors. In one year from now, you'll look back and commend yourself for setting those goals for a successful financial future. For more information, read eight steps for rebuilding your finances.