How to Earn Extra Using Social Media

Making extra money is always a hugely appealing idea. Perhaps you have some debts you want to pay off faster or maybe you’ve got your eye on a fabulous vacation somewhere? Either way, adding to your income by working on the side is a great way to reach your financial goals faster.

Social media is one of the best routes to take. You probably already have social media accounts on Facebook, Twitter and Instagram that could be making you a bit extra. If you don’t, they aren’t difficult to set up anyway.

Unlike some of the 75+ ways you could earn a bit extra, social media is probably something you are already using regularly and it will take almost no effort to add into your working day. You might want to have a crack at being a social media influencer, or maybe you want to put your blog to better use with social sharing?

Here are the two easiest ways to make your social media work a bit harder:

Social influencer

People tend to prefer to buy products recommended by people they trust and this is where social influencer marketing comes in. It could be seen as the sneakiest way of advertising a product because it relies on influencers gaining people’s trust and then persuading them to buy a particular thing. However, most social influencers will only ever promote things that they themselves like and use because if they recommend bad products, they will lose their social credentials. The top 7 tips to being a social media influencer will help you to master this subtle art and start earning with your own recommendations.

Promote Your Blog

If you have already started a blog but no one is reading, social media is the key you need to unlock your real potential. Blogging is a fast growing industry that relies on people just like you to continue pushing out readable, informative content and it can pay really well. Using social media will give you a wider audience and, even better, the chance to attract a regular following.

Organic social is the best way to start. Create a page dedicated to posts from your blog and then invite everyone you know to like it. Post updates and links to your blog regularly as well as other interesting links you might find. You can also use paid advertising to draw in new readers and to encourage more link clicks. Make sure you optimise your ads to get the best bang for your buck.

If you are already spending time on social media, adding either of these two small projects to your lifestyle shouldn’t be too difficult. Redirecting your focus to making a bit of extra cash might feel a bit odd to start with, but there’s no reason that you shouldn’t give it a go. After all, think of the celebrities who make money just posting pictures on Instagram! You might not be famous, but you can certainly learn a thing or two from them when it comes to quick, easy cash.

5 Super Easy Effective Ways to Help Save For Retirement

This morning’s water cooler conversation started off very light hearted, as most Friday mornings do, but took a sudden dive into the scary waters surrounding retirement and savings. Being a government employee, I just assumed that my co-workers and I were all on the same path: employer funded retirement accounts, plus additional personal 403b accounts and savings… I mean, that is how I was raised – “[s]aving for retirement is an investment into your own future, no one will do that for you” still echoes in my ears. As the conversation progressed, I realized that I was the only one, at 33 years old, that had taken this path to attempt to secure a financially stable retirement. Later I received an email from a co-worker asking how I recommend they start on they own retirement savings journey, so I thought I would share my response.

The Miracle of Compound Interest

The best advice I ever received in regards to my retirement savings was to start early. The younger you start, the more ground you make with compound interest. Google it. Simply put, you earn interest on your contribution plus the previously accrued interest. Start saving at 30 years old, instead of 20 years old, and you will need to contribute 3 times as much to have the same balance at retirement age.

Employer-Based Retirement Plans – DO IT!

Currently, I work for an agency that offers a 6% contribution to my retirement account and my employer pays the required 6% employee match, on my behalf. 12% of my annual salary is a great place to start. If you are in this situation, it is also important to research additional retirement options to help supplement your retirement goals. For example, I have set up a 403b account that I put $300 a month. The best part about this is that the $300 come out of my check pre-taxed – lowering my adjusted gross income (AGI)! If you want to get crazy, let’s talk about also setting up a Roth IRA as well!

Many private organizations offer a percentage 401K match; therefore, if you pay 3% into your 401K account, then the company will match your contribution and also pay 3% into your account. Why wouldn’t you automatically put in, at the very least, the amount the company is also willing to contribute on your behave? Free money!

Make sure to contact your HR department to determine if this is something that your company offers. It is literally their business to know and to help you.

My Personal Pitfall

Every year when I receive my annual raise, I increase my 403b contribution according. This way I don’t miss the money because I didn’t build my monthly budget around it. This is a very easy way to increase your savings as you move closer to your retirement.

When I first started to contribute to my plan, I made an unrealistic monthly goal and it backfired on me because I was no meeting my monthly expenditures and it was very stressful.

I used Google to find a great retirement calculator to determine how much I could afford to contribute and increased my contribution as I could afford to do so. A staggering 40% of Americans underestimate what their financial needs will be post-retirement.

Rollovers

If you are leaving the company and get asked the big question – rollover or cash out? ALWAYS rollover. Cashing out your 401K or 403b can lead to high fees and tax implications. Do your research and talk to your tax account. I understand the incredibly tempting allure of fast cash but do not fall into that trap if you can! As my dad says “no one else is saving for you…”

Check out the Graphic below, It provides an interesting visual insight into generations and how they go about save for retirement differently.


Presented by Creditlogon.com

Getting Started in Property Investment: What You Need To Know

I think that there will have been one time or another when we have all thought about investing in property. It seems like something we could do alongside our regular job, but it can be something that can grow quite easily too. Plus, just think of all of those properties that people will be paying the mortgage off for you. But is it all as simple as that? Here are some of the ways you can begin your journey to getting onto the property ladder and making it a business.

Check Your Finances

If you want to be approved for mortgages, then you need to know what your finances are looking like. If you have bad credit, for example, it might be a pipe dream that could take a little longer to see come to fruition. With a good credit rating and a regular income, you should be able to get approved for a mortgage.

Set Your Goals

Ultimately, before you start investing in property, you need to decide and set your goals. Do you just want a huge portfolio of flats for rent to help people have homes, or do you want to be buying and flipping houses quite quickly to get the cash? When you know what you want to do, you will know how to go about it and what kind of money you’ll be looking at needing.

How Much Risk Can You Stand?

For any investment, there is always an element of risk. So you need to decide for yourself how much risk you are willing to take. When you know your feeling on this, it can help you to decide what strategy you can put in place to make it all work for you.

Start a Budget

It can be a little dull and boring, but setting a budget is what is going to help you to achieve those goals. If a house needs to be modernized and redecorated, then you need to decide what you can afford to do with it. Otherwise, costs can get out of control and then you may not make as much profit as you were hoping to.

Create a Purchase Plan

You need to decide on the kinds of property that you want to invest in. Residential? Commercial? Ones that need work doing or ones that are ready to rent out straight away? Just make sure that you have a plan in place and do your due diligence for each property. Taking emotion out of it will help you to make better business decisions.

Stay Focused

Times may get tough when it comes to investing in property. So it is important to remember your goals and what you are looking to achieve. You might think you need to sell up at one point, but it could be better to hold on for longer, in order to get the maximum return, for example. Take your time, stay focused on your goals, and you will be achieving them before you know it!