Posts Tagged With 'budgeting'

Little Things Matter in Personal Finance

Amazingly huge things happen in your life only once in a while. These events might include landing that big job, marriage, closing on your dream house, or purchasing a car – and those things affect your personal finance. The rest of the events which occur are small, incremental events, or ‘white noise’ as some folks might title them. The small events, like getting a new client or receiving an email from a loved one, are more common and should have more notice taken from them.

I was reading Why Should I Make a Budget? by Haru over at I’m Bleeding Money, and I was thinking about the wisdom in the statement, “the thing that most people don’t realize is that it’s the minor expenses that really bite you in the A**.” He goes on to talk about the widsom in noticing each of the tiny expenses, elaborating about how they can expand into giant monsters of bills.

Even though your expenses can add up, your income can add up, too. The $50 here, or the $30 there can truly make a difference on the bottom line for the month. By the end of the month, you might have more money than you think because of the little dribs and drabs which are flowing into your bank account. This is especially true for a freelance writer, like myself.

Here are some suggestions:

1. Expand Your Income Stream

Those who have a single job can do this. Look for that extra couple hours of overtime, or see if there’s anything extra which can be done within the company. There’s usually a small amount in a company’s budget for those who want to take on those extra tasks and stay a little longer. The best part is that you’ll be seen as a team player, come review time.

2. Create New Income Streams

Every new client is an income stream. While the money that you make might not be enough to make the rent, it still might be enough to pay the water bill or let you go out to lunch once again. These income streams can be made from advertising or pay per click campaigns, but they can also be made from your products.

3. Take a Second Job

There are always the little bills which need to be taken care of. Look at the bills that you’ve got this month, and see whether a second job would be appropriate. If you’re a writer, you don’t have to leave your house to make the extra money, you can get a job working at iWriter, The Content Authority or Textbroker. The money is immediate, and, while it probably isn’t much, it can still make the difference between surviving and thriving.

4. Get Higher Paying Jobs

In any field, there is an evolution between the ‘crap’ work and the more lucrative endeavors. Very few individuals start out with the high paying, high responsibility jobs where they’re billing out at $200 an hour. Seek out those higher paying jobs as you grow into the one that you have, and you’ll find yourself eating ribeyes instead of cube steak.

5. Odd Jobs

One might consider the entire freelance writing gig to be an odd job. I’m talking about one-off jobs where you can make a little extra cash and not worry about the long term responsibility of having the job. These things might include moving a friend or fixing stuff around your neighbor’s house, or perhaps even babysitting. None of these jobs should interfere with your current ‘real’ job, and they’ll bring in a little extra cash to the household.

The most successful people in the world do not discount the importance of the little things. They realize that the little things are the ones that matter, because they are more frequent occurances over the large ‘big name’ events. Examine your own life to see if more ‘little things’ can be added, to battle those minor expenses that can bring you down.