earning

5 Income Sources You Can Create For Yourself Now

Happy Finance Friday! I hope you all had a great, prosperous week. If not, then I hope this post gives you some ideas for turning your money story around, and for majorly upleveling your finances.

Many of the discussions around money center around making more (which is what I’ll be talking about today) and spending less (to be discussed soon). These are the cornerstones to creating financial freedom, so the quicker you can implement them, the better your results. But when it comes to quickly implementing money-making strategies, there is usually this looming sense of overwhelm and a lack of clarity regarding where to start first.

Never fear: here are 5 income sources that you can create quickly, so you can start making more money NOW. I’m keeping it simple, giving you links and sources that you can explore right now, to start making money quickly and to give your finances a boost.

Tutoring – There are many online tutoring platforms, but I recommend Cambly for its ease of use. Once you’ve signed up and your profile is approved, you can sign up for Priority Hours, which guarantee that you will get priority student placements (basically, students are routed to you first) and you are guaranteed to receive partial payment for the hour, even if you don’t get any students routed to you (this is rare, but it can happen). It pays about $10 per hour, so it won’t make you a millionaire, but if you do one hour a day, that’s $300 per month that you can use to treat yourself, knock out debt, or invest in your future.

Make printables – if you’re creative, this is a fabulous way to make money without having to keep a bunch of physical inventory. Design cute templates and printable documents using free online software (like Canva), then upload the designs to your own website or to another platform (like Etsy). You can be making money within a few hours, if this interests you.

eBay store ownership – Sign up for an eBay account, take pictures of your stuff, then upload and set your price. Yes, there’s a little more to it (writing out descriptions, figuring out what has to happen once the items are purchased, etc.). However, this is one of the quickest ways to make money with what you already have.

Personal assistant work – Fiverr, TaskRabbit, and Upwork are just three of the platforms where you can advertise your skills as a personal assistant. Yes, even TaskRabbit has options beyond yardwork and furniture moving: you can find gigs for errands and clerical tasks. Once you set up your profiles on these websites, you can start making money.

Host virtual cocktails – This is great if you’re social and want to quickly monetize your popularity. Come up with a fun cocktail idea, set up a FB event page for it, work out the Zoom (or other meeting platform) details, then start selling tickets. Yes, it will take a few moments to set up a way to receive your payments, but that’s what PayPal, Zelle and CashApp are for. If you’re a fabulous hostess, you can make a memoral event happen from the comfort of your home.

These are just a few ideas for generating money quickly so you can start hitting your financial goals. Look out for another post in a few weeks, discussing 5 ways to spend less money, so you can hold on to more of what you earn. Have a great weekend!

5 Reasons Why We Don’t Earn Enough Money

Hi friends! I have a little bit of a surprise coming in a couple of days, but before I can unveil that, I have to cover a topic that I know has been on a lot of minds, and that seems to be discussed more and more in public forums as the economy goes through its ups and downs.

Many of us work hard, do a good job, and yet we still don’t seem to earn enough money. This is a problem that I had personally for years, until I made some crucial changes that helped me to turn this around (more about those changes in a minute). There are at least five common reasons why we don’t earn enough money, and I’d like to discuss these with you, as well as point you in the direction of some support for turning these reasons around.

  1. We didn’t do skill audits when needed. A skill audit is a deep dive into our knowledge, skills, and abilities (KSAs, for those that are familiar with federal job terminology). Listing our skills then having a deep appreciation for what we’ve mastered is critical to understanding our worth in tangible measurements. Without this knowing, it’s nearly impossible to be adequately compensated for our work. After all, if we aren’t clear about our value, how can we appropriately price our labor when interacting with clients and employers?
  2. We undervalued our skills. Even when we’re crystal clear about what’s in our skill set, we can still under-price ourselves. Many of us believe that timidity, and being the “lowest bidder”, will ensure that we get the clients or the jobs that we want. And it’s true that doing this may get us jobs and clients, however . . . We often find that undervaluing our labor means that we work harder, get burned out faster, and earn less over time. Please don’t let the current conversations about the desperation in the job market discourage you: there are enough positions available at every income level to satisfy your earning desires, and you don’t have to undervalue yourself just to secure employment.
  3. We have outdated money beliefs. Once upon a time, we believed that telecommuting and virtual work environments were only available to the few lucky people that happened to stumble upon progressive employers. Then 2020 happened, and we found out that a lot of employers that previously found telework to be “infeasible” and “unsustainable” could now operate with 100% virtual teams. I mention this example to illustrate that our money beliefs should be constantly shifting because our realities are always transforming. For that reason, we have to ask ourselves honestly whether we believe that we can actually earn more, that employers and clients are willing to pay what we ask, and that there are environments that will support the kind of work we wish to do. Only after considering these things can we remove this block in our earning potential.
  4. We accepted principle over profit. This is probably the only reason that may remain even after going through the other points. Sometimes, we choose work that is underpaid but rewarding (education and farming are two fields that come to mind immediately) because we’ve decided that the emotional rewards outweigh the financial gain. It is possible to have abundant income and deeply purposeful work all wrapped in one, but if our main motivation is principle, we may not seek out more lucrative opportunities. The goal should always be adequate or abundant income, coming from meaningful work. We should never have to choose between the two and, if our financial gain means that we have to compromise our values, then the opportunity isn’t worth it.
  5. We’re paralyzed by fear. This is probably the biggest one, because it’s the only thing that requires constant monitoring and addressing issues as they arise. It’s also the only point that can’t be easily corrected by introducing objective information. Our fears can convince us of monsters in teh shadows and can keep us from taking leaps of faith. However, it’s key to note that we are always larger than our fears, and we can always choose to be brave. Our future selves require us to be courageous and take one step forward, then another, even when we don’t know exactly where it will lead us.

I’ve personally gone through each of these reasons for underearning. I didn’t understand the breadth of my skillset, I did work where I was grossly underpaid, I believed that my dream salary wasn’t possible due to XYZ (insert lots of detrimental thinking here), I engaged in meaningful work that didn’t pay much, and I’ve been so scared that I wouldn’t even apply to certain jobs. I’ve tackled each of them one by one, in order to dismantle my money blocks and earn more money than ever. Now my work is simultaneously interesting, full of purpose, and well paid. I also got to tap into one of my core values – flexibility – since I now have a position where I can choose my work schedule based on my needs.

I’m here for you all if you need help with reason #1 – identifying your current skill set. I am currently offering a skills audit package on my Services page, so you can see my approach to quantifying your KSAs. It includes a telephone/zoom conversation with me, as well as a beautifully formatted document that you can use when seeking new earning opportunities, and you can customize it as you add new skills to your toolkit. It’s perfect for helping you get clear on your depth of expertise and how to position yourself to earn what you want and deserve. The skills audit will also help you overcome any of the five reasons that may be blocking you from earning more money, as well as any skills gaps, and recommend how to address these gaps in the most affordable and efficient way.

Those are my top five reasons why we may not be earning enough money. Look out for more insights in upcoming posts! Take care.