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work at home job
pocket notebook
free lifestyle
home positions
second job
money in your pocket
reputable company
spending habits
extra income
home based business
Control Your Money Part 5
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Control Your Money Part 5

So far we have reviewed our home services and found some savings. With the help of our pocket notebook we have learned what our spending habits are and how to control them. That gave us even more money to pay off our debts. So we are now on the road to a debt free lifestyle. At this point, let's take at look at our options to speed up the getting debt free process using extra income.

The whole idea of generating extra income brings up a whole host of thoughts. Based on your prior experiences, some of those thoughts may not be good. Just follow me here for a minute. Keep in mind one of the first things we learned in a prior article was: Assets put money in your pocket but liabilities take it out. With that said let's do some exploring.

One method of generating extra income is to take a second job outside the home. I know how hard that can be when you are already running a full time position and a host of other commitments. We are not talking about doing this forever, just for a season. You have to stay focused on the goal of a debt free life. I took a little job working one day a week that paid me $450. a month. I kept it 3 months for a boost that put me over the top.

Another option is to find a work at home job that you can do. Work at home positions do exist and are real. Be very careful of scams. A reputable company will not ask you to pay them anything to work for them. Remember also that “get rich quick” will put you in the poor house faster than anything.

Another option and also my favorite is to start a home based business. There are so many things you can do. It is amazing. A home business also give you a whole host of tax advantages that you can not get as an employee for someone else. The one big key to this is to keep your costs low, low, low to begin with. As an example, I have a friend that loves to wash windows. Who knows why but its what they like so they have started a window washing business. They took flyers into a shopping district and passed them out door to door to the businesses there. The flyer clearly states that they only do ground floor windows. It only takes them a few hours to do a whole bunch of them. The equipment requirements are 2 different size extension poles, 2 different squeegees, a bucket and some windshield washer fluid. Total investment with flyers, $50. Amount brought in first month working 1 day a week, $500. It's a home business and all the tax breaks included. People, you are your first and best asset, always. Assets put money in your pocket.......

These are some options for you to think about. If you stay on the plan that I gave you in the prior articles you will be debt free mortgage and all in 5 to 7 years. To speed up the process of getting to a debt free lifestyle you may want to consider your options. Reach for the point of your money working for you instead of you working for it.

If the idea of starting a business scares you then understand this; your life is the biggest, most complicated business you will ever handle. The twists and turns of life can hang you out to dry when you least expect it. With a business you have plans and backup plans you can implement. A business is far easier to deal with. So, don't let such an idea scare you.

Next time we will go through some thoughts on making you money work for you instead of you working for it. Once you are debt free your options really explode. So until then keep your eyes on the goal because it's your money tree so make the most of it.

Street Talk

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