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The coming depression blog | May 23, 2019

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DIY ! Extra Income Can Save Economy

How many times we find ourselves in front of our family budget spreadsheet trying to figure out how to reduce our expenses? Cut spending at the supermarket? Buy products with less value? Going about the house? Pass right by without giving a single windows look?

It is certainly commendable and always helpful to pursue a better use of money. With some changes in behavior is always possible to reduce costs, often without great sacrifices. Impulsive spending usually fail to provide welfare and it is expected that feeling that was not worth the card draw to meet a fleeting impulse. Our budget is basically composed of two columns: income and expenditure. As for spending, can be changed via behavior change. But what about the rent? You can change them easily or looks like they are part of the steady hand of our financial equation?

Changing our income is a relatively simple task. What complicates matters is when we think that just changing employment income can be increased. Changing jobs is a complex and often stirs deep into our life and our family. But it goes beyond the salary income. Increasingly, you can get new rents that are far from formal. This is not to encourage informality, but the search for alternative sources of income to balance the budget in us to arise and skills which were totally unknown until then. How to get a salary increase depends on several factors that often are not under our control, to obtain additional income normally only depends on our effort and creativity.

But like almost everything, seek new income also depends on planning. The first thing to do is find out what our talents and activities that give us pleasure and are treated simply as hobbies. Play guitar and sing for friends at the weekend may become a new source of income. Make delicious and invite the family for lunch on Sundays can also represent a way to balance the budget. After you find out who will invest their free time to make money you need to define how long you can book for this activity, which days of the week will be held and what the financial return expected. Also you probably need to negotiate with the family the use of time previously spent on them.

The extra income can be a temporary project, linked to some kind of project you have, like buying a consumer durable, a trip or something that is important to you. However, I know many people who incorporated the extra income generating activities in their day to day and did well with it. It is a matter of planning, focus and awareness of the impacts on our lives. It is also possible that this extra source of income in the future will become our main income. This happens when we discover that our life is following a course inappropriate to our satisfaction. It is important to know that the diversification of our professional shows that have a versatility that should be encouraged and work in our favor: increasing our income and our autonomy, which allows better choices and a more balanced financial life. Discover your talents and let them work for you. And the best make money with it.

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