Passive income is one of the most popular topics in society today, but it's also one of the most controversial. That's because there have been a number of scams disguised as passive income ideas over the years. Unfortunately, this has led people to overlook potentially great ways to supplement their household income. Here are three passive income ideas to consider for earning some extra cash.
Operate a Kiosk
Have you ever gone up to your favorite vending machines at school or work and thought about who owns it? Most people believe that the big soda and candy companies own their vending machines, but the reality is that they often only sell the right to use their names. According to Franchise Gator, kiosks offer agility and flexibility, are inexpensive to operate and start, and can range from something as simple as snack vending machines to ATMs or even DVD rental boxes.
Make YouTube Video Tutorials
Everyone's been there at one time or another. You just bought the latest smartphone but are completely baffled as to how to install all the features you want. Most people will run to their computer and search for a tutorial on YouTube. Before you know it, your phone is up and running. However, the next time you check out a simple tutorial, look at the number of views. There were probably thousands of other people who had the same issue as you. According to Beginners Passive Income, posting a quick and easy YouTube tutorial is one of the lesser-known ways to achieve passive income. As the number of times it is viewed grows, so does the revenue being provided by ads that run before it.
In today's market, the sales of e-books keep increasing. So, how can you capitalize on this trend? When you write an e-book and place it on book websites such as Amazon, you are then given a portion of the sale whenever someone downloads it. If you are an expert in a field or you simply want to showcase your storytelling skills to the world, e-books are your best bet.
It takes more than just a normal salary to make ends meet these days. That's why so many individuals across the country are now getting creative in order to earn extra cash without having to sacrifice their main career. You can join them. Simply utilize the information posted here to form a better idea as to which route you want to take.
If you’re looking to become more financially independent, check out this article: 4 Steps to Financial Fitness
Social Security Disability Insurance (SSDI) is a vital safety net for former workers with disabilities. You should be aware of these top 5 reasons to seek disability benefits and learn about the resources available to you to assist in the application process.
Want to reach your money goals? Here's a four-step process to achieve your dreams!
(BPT) - The new year is just around the corner and it’s never too early to think about your 2020 goals — and for many, this means prioritizing finances. Taking the time to focus on your goals and determine what’s important to you financially is the best way to set yourself up for success, but actually following through can be difficult. These easy financial exercises from Vanderbilt Mortgage will help you reach your goals in the new decade.
1. Outline your plan
If you don’t already have one, establish your plan. Write down short-term financial goals, such as creating a monthly budget, and long-term goals, such as paying off a debt or buying a home. Defining these goals will help as you set your budget for the next year.
2. Create a monthly budget
Gather pay statements, bills and bank statements to get started. You can write down all this information or use a budget tool. Start by calculating your monthly income, which includes not only the amount you may get from a regular paycheck, but also any money you get in government aid, child support or pensions. The next step is to look at your bills and bank statements to find out exactly what you spend in various categories of expenses such as utilities, auto, medical, personal, insurance, etc. This accurate information will empower you to take control of your spending.
3. Set a savings goal
Saving is another important aspect of financial health. Whether you’re using a general savings account, adding to an emergency fund, or setting aside funds for a new home, saving for larger financial goals helps you prepare and gives you peace of mind no matter where life takes you. If you’re new to saving, start small. Simply skipping your daily latte from the coffee shop a few times a week can add up quickly.
4. Stick to it
The statistics on how many people actually follow through and keep their New Year’s resolutions are rather bleak, but sticking with your financial goals will pay off. Stay on track by monitoring your progress each week. As you get closer to your goals, excitement will build and you’ll be motivated to keep budgeting and saving.
Vanderbilt Mortgage offers helpful online resources whether you are looking to purchase a new home or keep your current home in great shape. “Here at Vanderbilt, we want to use our years of experience to help current and future homeowners.” Said Eric Hamilton, President of Vanderbilt Mortgage, “Providing educational materials for every step of homeownership is one of the ways Vanderbilt is with customers every step of the way.”
Vanderbilt Mortgage and Finance, Inc., 500 Alcoa Trail, Maryville, TN 37804, 865-380-3000, NMLS #1561, (http://www.nmlsconsumeraccess.org/), AZ Lic. #BK-0902616, Loans made or arranged pursuant to a California Finance Lenders Law license, GA Residential Mortgage (Lic. #6911), MT Lic. #1561, Licensed by PA Dept. of Banking. Sponsored ad content from Vanderbilt Mortgage and Finance, Inc.
(BPT) - If you had to grade your financial literacy, what would it be? Are you an A+ saver, investor and planner, or do you think you could do better? If you grade yourself average at best, you’re not alone.
When asked to grade their own financial literacy, more than half of Americans say they’d earn a “C” or lower, according to new data from Prudential Financial. This isn’t surprising, considering data from Prudential’s Financial Wellness Census shows less than half of Americans are on track to meet their financial goals, including planning for retirement.
“Regardless of where you are on your family’s financial wellness journey, the best way forward is through financial literacy,” says Prudential Advisors President Brad Hearn. “Researching, educating yourself and getting advice from a financial professional can help you make the best decisions based on your life stage, risk tolerance and goals.”
Hearn says each family’s situation and goals are unique, and things like life stage and personal preference will impact how they choose to prepare for their financial future. To get started, here are five financial wellness basics every family should master:
Set up an emergency fund
Life is a series of experiences, and sometimes the unexpected can hit your finances hard. Whether it’s a car breaking down, your AC unit on the fritz or even losing a job, it’s important to be prepared for emergencies. If you don’t already have an emergency fund, start saving a little each month until you reach your goal. A good rule of thumb is to have three months’ worth of expenses saved in an emergency fund. So, if your monthly expenses are $2,500, you should have $7,500 saved.
Create a budget
Saving for college? A new car? How about starting that emergency fund? Whatever your family’s financial goals are, it’s important to have a plan in place that helps you achieve those goals. Budget to manage day-to-day expenses, and include in that budget a commitment to save for bigger milestones. For tips on getting started, do some research. There’s no shortage of advice, whether you decide to go it alone or consider using the help of a professional financial advisor.
Plan for the unimaginable
If you have people who count on you for financial support or caregiving, you should have life insurance. A life insurance policy can help give your family financial peace of mind should the worst happen. There is no rule as to how much life insurance you need, but important things to consider are your annual income, mortgage debt, potential college costs for kids and other future financial obligations.
Save for retirement
According to Prudential data, of Americans who have retirement savings and debt, nearly one-quarter have more in total debt than in retirement savings (23%), while 15% of Americans say that they have no debt, but also have nothing saved for retirement. Planning for retirement is something that should start as soon as possible. If your work offers any type of matching program, make sure to take advantage. If you don’t, you’re essentially leaving free money on the table.
Seek professional advice
Retirement, life insurance and savings can be confusing. Information overload is partly to blame. According to Prudential data, two-thirds of Americans agree that the list of things they need to learn to successfully manage their finances keeps growing, not shrinking. That’s where financial literacy programs and professional financial advice can play a key role. Nearly two-thirds of Americans don’t have a financial advisor. They say they cannot afford one (42%) or don’t believe their financial situation warrants needing an advisor’s help (26%). The reality is that advice is more within reach than ever before — and it’s not just for the wealthy. A financial professional can help at various stages in life and work with you to create a strategy based on your timeline, risk tolerance and goals.
“Financial wellness isn’t always a matter of having more money,” says Hearn. “Instead, it’s a journey that takes a combination of proactive effort, dedication and professional guidance.”
Prudential Advisors is a brand name of The Prudential Insurance Company of America and its subsidiaries. Life insurance is issued by The Prudential Insurance Company of America, Newark, NJ and its affiliates.
(Family Features) Managing all of life’s demands on limited funds can feel like a never-ending chore. Every family’s budget is unique, so there’s no one-size-fits-all solution to saving money. However, establishing priorities and looking for ways to make small cuts can add up.
Many people turn to creating a personalized budget or a spending schedule to help keep track of their expenses. Planning payments on a monthly basis can sometimes be helpful when it comes to setting an appropriate family budget, anticipating short-term expenses and planning ahead for long-term payments.
However, creating a personalized budget is not always enough. Some companies also offer discount and incentive programs for particular customers, so it’s best to do some research when planning your next month’s budget and take advantage of available programs.
For example, Amazon offers a discounted Prime membership for $5.99 per month for customers receiving government assistance. This offer is already available to Electronic Benefits Transfer (EBT) cardholders and now Medicaid recipients also qualify. Members have access to a wide selection of more than 100 million items, video and music streaming services, low prices on select items and fast, convenient delivery options, which can ultimately help save both time and money.
In addition to fast, free shipping on millions of items, these benefits come at no additional cost to Prime members:
To help make your budget more manageable, take a close look at your bills, ongoing purchases and opportunities to save where possible.
Find more information to help balance your budget at amazon.com/qualify.
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