Do you have a desire to find ways to bring in additional income into your household? One great way to accomplish this is by starting a side-hustle. When it comes to finding the right side hustle the task can seem very overwhelming. Where do you start with so many options out there? What we decided […]
The post 7 Side Hustles That Cost You No Money To Start appeared first on His & Her Money.
There are so many glorified stories of business ownership that many people have a misinterpretation of the real and respected life of a business owner. Millions of people are making their decision to start their business and become their own BOSS, and many will succeed! Will it be you?
Well, to be a profitable and successful Business Owner, here are 3 traits to AVOID …
Unfortunately, I believed the “Bootstrap” banter! To bootstrap is to start a business with little capital and I thought that I could get everything I needed for little to no investment. What I learned is that getting the information and services that I needed to be a successful business owner would cost me. If I was not willing to invest my money to get what I needed faster, I would have to invest my time to figure out how to get it slower. Although I learned a great deal along the way, I wasted valuable time, money and potential revenue by being a cheapskate.
I had the misnomer that I would be giving my money away if I hired a coach. This mis-education of money helped me to lose over $50,000 in a year. If I had invested a few hundred dollars in a coach to help me do it right, I would have gotten a return on my investment through building my business the right way with income coming in faster.
TIP: Successful business owners take risks and understand the value of investing in themselves and their business by getting experienced coaches and talent to help them propel their business to stratospheric success. Don’t be afraid to invest in what you need to be successful. You are worth it. [tweet this]
I was able to run a financial institution; surely I could certainly run my own business. Right? WRONG! It turns out that there is much more to running your own business than there is to running a business that someone else built. Unfortunately, I was a know it all. I did not think that anyone could tell me something that I did not already know. This cost me big. What will it cost you?
It reminds me of when I was a teenager. I dismissed everything my parents said because I knew so much more than them. Of course, when I grew up and became a parent I finally understood what my parents were trying to tell me. And yes, they were right.
Oftentimes new business owners have the same mindset that their idea has never been thought of and that it will work regardless of the experience of other business owners. Take it from me: don’t dismiss the knowledge of an experienced business owners. It is not always that someone is trying to tear down your dream of being the next Bill Gates. The experienced business owner that you trust just may be sharing some of the requirements and possible obstacles that you may face so that you will be prepared.
TIP: Connect with trusted experienced business owners. Listen to their wisdom as you would a great-great-grandparent. [tweet this] If you think you know it all, you actually may not know what you do not know, and that is the most expensive ignorance there is.
I wanted to be a successful business owner, but I was scared! Scared of what? You name it, and I was scared of it. I was scared to Fail, scared to Succeed, scared of people’s perceptions, scared that no one would like, want or buy my products and services… the list could go on. I was so scared of everything that this fear paralyzed me. Some call it self-sabotage, but sometimes I was paralyzed. The real scary thing about it was that I did not know why I was so scared?
I missed so many opportunities by being scared and allowing that fear to keep me from doing what I wanted to do. For example, I knew I needed to do videos to increase my brand exposure. All of my competitors were utilizing video and they were experiencing major success. However, instead of doing what I knew I needed to do to be more successful, I would say, “I hate doing videos,” or “I have nothing to say for a video.” I was just qualifying my fear and justifying why I should not do what I needed to do for my business.
I learned that fear is not a bad thing or a bad word. Fear is a signal that goes off when we venture outside of our comfort zone. And, guess who controls our comfort zone? We do! As we expand our comfort zone, the fear signal goes off less and less.
TIP: Expand your comfort zone by doing what causes you the most fear with your business. [tweet this] If video scares you, do a video and post it on YouTube, or do a Periscope or Facebook Live. After you do it a few times, you will notice that your fear signal will get quieter. The best way to shut Fear up is to expand your Comfort Zone.
Can you related to any of these or know someone who fits any one or all of those categories? Share you comments below.
CLICK HERE to get your copy of the best selling eBook “10 Traits to Avoid To Be A Successful Business Owner“ via Kindle along with more tips on how to get ready fast!
By guest contributor Sallie Mae®
As you start to save for college, consider three of the most popular ways to set up a college fund: 529 College Savings Plans, UGMA/UTMAs, and Education Savings Accounts (ESAs).
Each one offers different features and benefits. Other methods include high-yield savings accounts, life insurance, and mutual funds. A financial advisor can help you choose the best one for your needs.
State-sponsored 529 plans are one of the most popular ways to save for college. You can invest in any state’s 529 plan regardless of your residence, but check with your own state’s plan first. Most offer special tax advantages for residents. 529 plans give you additional benefits such as:
An UGMA/UTMA (which stands for The Uniform Gift to Minors Act/Uniform Transfers to Minors Act) is a custodial account usually set up at a bank. The assets in the account are designated for the child, but do not have to be used solely on education. Benefits include:
1 Earnings on non-qualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes. The availability of tax or other benefits may be contingent on meeting other requirements.
Originally posted on March 19, 2015.
Scholarships and grants are used for 31% of college costs, according to How America Pays for College 2014. Yet, in the rush of coursework and other activities, students may overlook this valuable source of free money for higher education.
A valuable source of money for higher educationStudents may believe that scholarships are all geared toward academic excellence or athletic prowess. While some are, there are millions of opportunities for every kind of talent, background, and experience. Students should broaden their searches to include place of origin, ethnicity, family professions, and political persuasions. Another myth of scholarships is that scholarships are only for high school seniors. Students in all years of their college journey can be eligible for free money.
Scholarship Search by Sallie Mae® has a free service that automatically searches through a database of more than 3 million scholarships, worth up to $18 billion, based on a wide range of activities, interests, and affiliations entered by the student. Email alerts are sent when new matches are posted. Plus, by registering, students can easily enter a monthly sweepstakes for a chance to win $1,000.
While 98 percent of parents believe that college is a worthwhile investment, only 38% have a plan in place to pay for all years. To help students and parents create planning and saving strategies, there is a suite of free tools, calculators, and resources at SallieMae.com/CollegePlanningToolbox. Students can estimate their expected monthly loan payments after graduation, analyze award letters, and create a step-by-step financial plan using a combination of scholarships, grants, and loans.
Learn more about Scholarship Search at SallieMae.com/ScholarshipSearch.
Originally posted March 9, 2015.
Are you or your child in college? If so, you may be able to claim Education Tax Credits and Deductions. This handy infographic by Sallie Mae will help you determine if you can claim the education tax credits or deductions.
Originally posted March 2015.
By Tameka Easter, Sallie Mae Social Media Director
Families with college-age children find themselves in a new season: FAFSA Season. Filling out the FAFSA (Free Application for Federal Student Aid) is the most important step you can take — it’s the only only way to receive federal student aid. Last year, the federal government awarded about $150 billion in grants, low-interest loans, and work-study.1 Make your FAFSA process smoother with these five tips:
The deadline for federal student aid is June 30 of the academic year in which the student plans to enroll in college. In other words, if you plan to enroll in college in August 2018, you must submit your FAFSA by June 30, 2018. But do try to submit your FAFSA as soon as possible after January 1. College and state financial aid deadlines can be as early as February or March of the senior year of high school. Colleges may require an additional application to be considered for institutional aid, so check your deadlines and apply as early as possible.
You’ll need your Social Security number, family financial information, most recent tax returns and/or W2s, bank statements, and a federal PIN number. If the student is a dependent, you’ll need financial information from parents and the student. This Department of Education guide can help clarify which parent’s information should be included: https://studentaid.ed.gov/sites/default/files/who-is-my-parent.png.
If you plan to complete and submit your FAFSA online, you’ll need a Federal Student Aid PIN, available for free at https://pin.ed.gov/PINWebApp/pinindex.jsp. With it, you can apply and “sign” the FAFSA online, check the status of your submitted FAFSA, make corrections, and even e-sign loan promissory notes. Note: A Federal Student Aid ID will replace the PIN beginning spring 2018.
This is the easiest way to fill out the FAFSA — and there’s no charge at https://fafsa.ed.gov/. If you have questions, the site offers online chat, and there are built-in error detectors to catch mistakes in real time. Your online submission will be processed within 3-5 days, compared to 2-4 weeks if you mail it in.
At every step of the process, be sure to review the information to make sure that it’s correct. You can make corrections online at the government’s FAFSA site.
For more information on the FAFSA process, along with free tools and tips about paying for college, visit SallieMae.com/FAFSA.
1 fafsa.ed.gov
Originally posted on March 2, 2015.
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