I attended a conference in December 2006, and one of the workshops catered to becoming wealthy at a young age. From their perspective, the main idea would be to have five sources of income coming in at one time. Now, you're probably thinking WHOA, five sources of income? With our economy the way it is, how can I possibly do that? Now, with our economy the way it is, it is more important to have other streams of income when that part-time job doesn't work out or your camp counseling position ends. Most people only have one or two sources of income on a daily basis, which is their full-time job and a possible side job to make extra money. At this rate, gas prices are only becoming higher. Here are a few ideas to help you get started on your journey to become wealthy.
(Btw, I have three sources of income right now, and I am working to get five!)
Income:
1st source- Part-time or full time job
This may include your summer internship or your part-time job at the pool. Will you have this during the school year? If it doesn't continue, think about possibly having a part-time job during the school year to get some money for the side. Right now, it is extremely hard to find a job, but if you sign up with temp agencies in your area, they can help you find work at reasonable hourly rates.
2nd source- Your hobby
Are you great at doing hair? Do you like to produce music? Do you know your way around the kitchen? Find ways to make money by doing this whether it is promoting your great hairstyling skills to gain a larger customer base or selling your beats to aspiring musicians. Plan a night where you make a delicious meal and charge your friends a few dollars to eat. It is possible to make money and have fun doing it.
3rd source- Surveys
Places like mysurvey.com allow you to respond to surveys that fit your demographic and earn points to redeem for certificates! If you find a website that offers this deal, make sure that you are not paying to take the surveys. Otherwise, it isn't worth it.
4th source- Focus Groups/ Taste Tests
Firms like Scheslinger and Associates in Atlanta and PVR Research are paid to find you, the consumer, to test new products and foods, give your opinions on how you live, and provide your input on topics that you know best. I did a taste test for 30 minutes sampling gum and I received 25 dollars for compensation. It is a fast, easy way to make some extra cash.
5th source- Your Major
You are paying to go to school, so why can't people pay you to do what you already know? If you are a journalism major, consider freelancing at different magazines to make some extra money. If you are a finance major, consider handling the finances of a small business at a discounted rate than the competition.
Need some advice or help on how to make money? Be sure to leave me a comment, and I will get back to you.
Wednesday, June 4, 2008
5 Sources of Income...Try It
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