Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "Extra Streams of Income Ideas "
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous][quote=Anonymous]I'm 26 yr old consultant that does ok for herself (93k annually) although to some that maybe fine, I recently decided to buy a house and my first car. Im able to make my monthly bills but a little extra money would be nice. Do you have any reccomendations on side work I could do, I'm looking for 5/7 hrs per week? [/quote] Here's my attempt at a serious response to someone looking to make extra money, who is already making about $47 per hour. Unless you do something entrepreneurial, there is very little that you can do in terms of labor (babysitting, walking dogs, etc) that will get you anywhere close to $47 an hour. If you can find an entrepreneurial pursuit that does not require upfront asset purchases and is immediately cash flow positive, go for that. Otherwise, focus instead on reducing your costs - time spent doing this will recover money at the rate of your salary. Why are you just "able to make" your monthly bills? The average income for 26-year-olds is less than 1/2 of your income. Even 75th percentile is $52k. You have an excess of 40k gross income. I recommend the 3-month salary rule for your car. That means a limit of about $23k, which should get you a myriad of new cars such as the Mazda 3 and Honda Civic. I am not sure if you are married, and if not, reconsider why you are buying a house. It's almost certain that whatever home you buy will not be something you keep once you get married - your spouse may not like it, it may be too far for his/her commute, you may start having children, etc. I have a childhood friend who bought a townhome when he was fresh out of school, lived in the master and rented out the other rooms, which essentially paid for the mortgage. This maybe something you can consider if you are still single. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics