Category Archives: Wealth

Making More Money By Working Two Jobs At The Same Time

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Apple iPhone

Smart Phones make it possible

It’s 6:00 am on a Saturday morning !  You might be thinking, “That guy sure is an early morning riser“, but that’s not so!  Normally, I’d be blissfully sleeping away in my comfy bed without a care in the world.  But this fine early Saturday morning, I’m working two jobs at the same time!  What I’m about to describe is a great way to get rich or at least make more money in a given day!

Which two jobs do I have going on?

  • First, I’m part of a team installing software for a big release for work (I’m telecommuting in to do the work).  We are currently waiting for a large SQL script to complete.
  • Secondly, I’m also typing this blog article for next Tuesday!  If I get this post done before the software is installed, I’ll do other tasks that need done related to this blog.

Why do two jobs at once?

Because it’s a great way to maximize both time and money!   If you can do the work for two jobs during the time of just one, you have the potential of making more money and saving time to do other things later in the day.  Using such a technique, you should effectively increase your rate of pay per hour!  Even small increases are better than no increase…

This is what I call a “maximizing working time“!

I know this is obvious, but I watch people who work such jobs that could be take advantage of in the way that I describe, but typically, I don’t see them doing it.

So which jobs have the potential to allow you to work another job at the same time?

  • Information booth worker(especially if there isn’t a lot of people asking questions)
  • Desk Security guard (again, especially if human traffic isn’t common)
  • Customer support (sitting by the phones waiting)
  • Gift wrappers
  • Ticket takers
  • Firefighters/EMS
  • Smaller store retail clerks/sale rep.
  • Auto Salesmen
  • and the list goes on and on…

Of course, the work mix can vary with each job!  So perhaps the information booth worker’s time is 30% her primary job, but 70% her side-job, while the opposite may be true for a gift wrapping position.

I know of a lady that works at an airline information booth, that also quilts (and takes orders for quilts) during that time she’s at work.  I asked if she constantly has to put the quilting projects down to help people.  She said not really, and especially when it gets later in the evening.  While I don’t know the exact amount of money she makes from selling her quilts; I do know that the money that she does make from selling the quilts pay for the big vacations that both she and her husband go on (the last one being a cruise in the Bahamas) every year.

Why haven’t people done this all along?

I believe that they just didn’t have the resources to do so in the past, but with advancements in technology, doing so is more feasible.

I just scratched the surface with this article!  It might even be possible to do 3 or more jobs at once… But I’m happy just doing 2 jobs today…

Do you personally know people who are able to perform two jobs at the same time?  Do you think it’s possible to overlap jobs so that you could work three or more jobs during a day, and not become burnt out?

-MR

Ignored Tip For Building Wealth

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I was reading an article by Farnoosh Torabi called Top 5 Tips to Build Wealth and Successs and I would like to expand on the Ignored Tip for Building Wealth number 2!

Torabi’s Top 5 Tips to  Build Wealth and Success:

  • Live Below your Means.
  • Bounce Back From Defeat
  • Self-Promote
  • Have Streeet Smarts
  • Buy Cheap

Most of the above tips are very well known or common sense!

But I do like her 2nd, often ignored top tip for building weath and success: “Bounce Back from Defeat“.

All to often, once we start something, we tend to give up if we aren’t instantly a pro at it.  This is a huge mistake!  If we don’t keep trying and practicing at a task or activity, we never will be able to master it.  Imagine if Lance Armstrong stopped trying to ride a bike after her his first failure.  If he did stop trying after the first failure, you would be asking, “who is Lance Armstrong”… (l0l)

Surprisingly with investments, many people do exactly that though!  They lose money in the stock market and quit.  They tend to think someone in out to take their money and that the system is rigged against them.  The historic graphs that show the movement of stocks and the entire stock market, so we know that’s not true.

The same is true with building wealth and success.  Yeah, I’ve lost money in the stock market, but I’m still up overall… and my game keep getting better each and every year!  Someday I expect my investment portfolio to help me accomplish financial independence, and to support me in retirement!

What about you, have you overcome a failure to prevail and become a success?  Read this story by the Financial Samurai for a great blogger story about using rejection as motivation for success!

-MR

Wealth Tips # 6 – Trying Harder To Become Wealthy

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My Wealth Tips #6 is all about trying harder to become wealthy!

All to often when it comes to wealth creation, the middle class group thinks that it’s all luck when it comes to generating wealth.  Or that you have to be a top socially gifted, genius like Bill Gates to be able to create an incredible complex company like Microsoft to make you rich.

I’m here to say, it’s not so!  For one, you don’t need the kind of money a Warren Buffett or Bill Gates has!  For us normal middle class folks, we should just try to get to the level of wealth where our passive income (money from dividends, rents, etc), is a bit more than our expenses.

Now you might be thinking, how? 

Well, luckily in the Yakezie blogging network, we have a few excellent examples!  One such example is the blogger named Jeff at Deliver away Debt, who had obtained a massive amount of debt (over $100,000) but has been able to reduce his debt down to $50,000 in the time period of a year and a few months!  Now you might wonder what was his amazing income stream that helped accomplish this?  He delivered pizzas, and lived very frugally.

Wait, what does debt elimination have to do with wealth creation?

Well, let’s imagine that Jeff continues working side jobs and keeps his frugal ways after his debt is totally paid off.  If he applied the same discipline, that would mean that he was able to save about $40,000 a year, so in a 10 year timeframe, he should be able to accumulate about 1/2 a million dollars if he were to earn a 7% interest yield!!!

Amount Interest
Saved Rate Earnings
$40,000 3.50% $1,400
$81,400 7.00% $4,298
$125,698 7.00% $7,399
$173,097 7.00% $10,717
$223,814 7.00% $14,267
$278,081 7.00% $18,066
$336,146 7.00% $22,130
$398,276 7.00% $26,479
$464,756 7.00% $31,133
$535,889 7.00% $36,112

Not to shabby!!!

At Money Reasons, I’m trying to do exactly that.  This is one of the main reasons I joined the Millionaire Club, I hope to have a net worth of 1 million dollars in 10 years!

So look for opportunities to become wealthier, even if they are small opportunities.  If you go the extra mile like Jeff does above… you might just surprise yourself!

-MR

The Secret Life Of The Joneses

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I always though my neighbor next door was a lot like my family.   I was wrong!

The Secret Life of the Joneses, Across The Street

Apparently, our neighbor across the street had a secret life that I was unaware of!  Over the years, I should have realized that they were wealthier than I thought from the clues that they revealed. 

Here are some of the clues:

  • Once at a party, the neighbor that I thought was like the Joneses , revealed to me that he refinanced his mortgage down to a 10 years loan!  I was impressed because I was paying extra on my mortgage too, and only had 5 years left.  But the way they spend their money, I assumed the were like the typical Joneses, meaning that they were buying things largely on credit.  But when I heard that my neighbor bought a 10 year mortgage, that should have set off some flags.
  • Their son (7 years old at the time) once told my son that he wants his dad to buy our house too (because of my son’s toys).  I always wondered what he meant by that, but I just dismissed it as kid talk
  • Three years ago, they both bought 2 new cars at the same time.
  • I’ve seen both the neighbor and his wife out on the port scanning the newspaper ads section like it was made of candy.  I guessed that they were looking for houses to buy for rental property.
  • Once at another party, the neighbor mentioned that he created and sold wine on the side.  He claimed that it was mostly a hobby, but he did have a real label and sold the wine at stores.
  • I noticed that the my old neighbor also was very handy around the house!  He even replaced his entire front door insert by himself.  Somehow he must have learned how to do construction work!  Most likely from houses that he owned as rental property?

So I learned that sometimes those who spend like the Joneses next door, are really just wealthier than you realize because of side jobs and real estate!

Have you ever had a rich neighbor, that you didn’t know were rich until much later, or after they moved like mine? 

-MR