July 19, 2010, 3:00 am

Carnival of Money Stories – Starting A Sideline Edition

by: The Financial Blogger    Category: Financial Rambling
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Welcome to this edition of the Carnival of Money Stories! Instead of simply sharing the great articles that were submitted to the carnival, I thought of adding the 4 steps that motivated us to create our sideline business. My friend and I are now running a decent amount of websites and we are able to generate a nice level of income out of it. If you want to learn more about our experiences, make sure to visit our alternative income section along with registering to our newsletter which includes free insight into our company. I disclose how I bought, built and even sold some of my blogs.

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So before I start talking about my online company, here are my editor’s picks:

#1 Carlos presents Five Things Every Soon-To-Be Parent Should Know posted at The Writer’s Coin. He says: Having a kid turns your world upside down and most people won’t tell you how crazy it gets. Here is the honest truth on what to expect.

#2 Penny presents Breaking the Poverty Cycle posted at Penniless Parenting. She says: A trip down memory lane, seeing how our parents’ financial situation affected our own, and how we plan on not perpetuating the poverty cycle

#3 Frugal Dad presents What To Do With Loose Change? posted at Frugal Dad.

#4 PT presents How to Complain and Get Your Money’s Worth posted at PT Money.

Step #1: Having an idea – Investing & Making Money Posts

Obviously, you won’t create much of an income out of nothing! You need to find an idea. In fact, having an idea for a sideline is easier than you think. You just have to simply write down all the things that you like or that you are good at. Then, you write down issues and problems to be solved related to your ideas. There you have it, your idea for a sideline (what you like) and a way to make money out of it (solving a problem, answering a need)! Here are the investing and making money articles for this carnival:

FMF presents How Much I Made This Spring Refereeing Soccer posted at Free Money Finance. He says: How I made an extra income doing something I love to do.

Intelligent Speculator presents The upcoming war on Google (GOOG) from Microsoft (MSFT) & Facebook posted at Intelligent Speculator. He says: Microsoft’s BING with Yahoo as an alliance, and Facebook coming up with its own search engine leaves Google something to worry about.

Dividend Growth Investor presents Will higher taxes bring dividend stocks down? posted at Dividend Growth Investor. He says; back in 2003 the Bush administration cut the top rates on dividends and capital gains to 15%. After seven years the preferential treatment of investment income is set to expire. If congress doesn’t extend the tax cuts, the top rates on dividend income could increase to as much as 39%. This leaves many investors wondering whether dividend stocks will be negatively affected by the tax hike.

Ctreit presents What to do about the risk of not reaching your financial goals? posted at Money Obedience. He says: When we set financial goals, we run the risk that we don’t reach them. Investing a portion of your savings in the stock market makes it more likely that you reach your long-term goals.

Ryan @ CML presents How to Open a Business Bank Account posted at Cash Money Life.

MD presents How-to Create Passive Income posted at Passive Income Now.

Silicon Valley Blogger presents Dogs of the Dow: Top Investing Strategy or Brilliant Marketing? posted at The Digerati Life. She says: This post reflects on one person’s analysis and musings about the Dogs of the Dow, a popular investing strategy.

Darren presents How To Pick Stocks Like Benjamin Graham – The Enterprising Investor | MORE than Finances posted at MORE than Finances. He says: What makes an enterprising investor different from a defensive investor? How does an enterprising investor analyze stocks? He says: A review of an actively managed ETF that beats the S&P500 in both up and down markets. Beating the street is rare but this ETF has the demonstrated history making it worth a look.

Dan presents Actively Managed ETF Wins in Both Up and Down Markets posted at ETF Base.

Step #2: Creating a partnership – Saving Money & Frugal Posts

You may be smart, you may be good at what you do, you surely can’t do it all on your own. Creating a partnership with my friend was the best thing we could have done. It was a perfect match of our competencies and it also encourages us to keep going. If you work alone, nobody will send you an email at 2am telling you how great it was to work on your project last night and what he did to improve it. This kind of motivation is a blessing!

Mike @ Green Panda presents Dating In College When You’re Broke– Is It Possible? posted at Green Panda Treehouse. He says: Being broke doesn’t mean you should stop socializing, or stop you from dating.

Kristina presents Money is Relevant posted at DINKS Finance. She says: When you are in a relationship and your income is cut, should your partner also feel the impact?

Austin Morgan presents Why I Spent $2,000 on an Airplane Ticket posted at Foreigner’s Finances. He says: It’s not every day you make the biggest purchase of your life. In this post I detail why I spent so much money and how you can properly prepare your finances for a mammoth purchase for your own.

Ace presents Does Embarrassment Prevent You from Saving? posted at Ace of Wealth. He says: I can think of a number of occasions both in my recent and distant path where I’ve opted to take the path of least resistance for fear of being embarrassed. Have you done the same? Maybe you were afraid to order the cheapest wine on a date? Or maybe you’re too afraid to use coupons at a grocery store for fear of the stigma associated with coupons.

MoneyNing presents These 7 Simple Money Tips Can Make All Your Dreams Come True posted at Money Ning. He says: Here are some simple, yet important money tips anyone can use to make their dreams come true.

Ramsay presents Guaranteed Ways To Keep Your Phone Bill Down posted at I Need Money. He says: Save money on your cell phone bill by reducing unnecessary expenses from your monthly bill.

2 Cents presents Buying a Car: Is It Wrong to Buy Foreign? posted at Balance Junkie. He says: We live in an automotive town and are constantly confronted with bumper stickers exhorting us to buy domestic cars. Should that affect our purchase decisions?

Miss Bankrupt presents Symptoms of a Shopaholic posted at Miss Bankrupt.

mbhunter presents Swagbucks enables my wife’s colored pencil addiction posted at Mighty Bargain Hunter. He says: Cheaper is better when fueling colored pencil addictions.

Squirrelers presents Squirreling Gone Wild #11 ? Putting on an Act to Save Money posted at Squirrelers. He says Have you ever seen people resort to extreme measures to save money?

Step #3: Having a vision – Money Management Posts

At first, we were simply running a few websites with no direction and no plan. Then, while talking with another friend (who is not part of our company), he asked me what was my plan, what I wanted to do with those sites, where will I be in 2 years with this project? Those questions needed to be answered at the very beginning. Running websites is too simple and quite vague. You need to know what are the next steps to make money and then, to make even more money!

Stew presents Marriage is not a financial decision posted at Gather Little by Little – Personal Finance with a Christian Perspective. He says: marriage has money implications, but it is not just a financial partnership

Charles Chua C K presents 10 Vital Tips to Manage Your Personal Finance posted at All About Living with Life.

Madison DuPaix presents 5 Steps to Overcoming a Financial Setback posted at My Dollar Plan. She says: Many of us have had setbacks along the path to financial freedom – find out what to do when you hit a bump in the road.

vh presents I need a vacation from retirement! posted at Funny about Money.She says: Working 18 hours a day, 7 days a week to support retirement

Barb Friedberg presents REDUCE STRESS; Get Rid of Dysfunctional Money Behaviors – Part 2 posted at Barbara Friedberg Personal Finance. She says: The story is about the money troubles of Juan our summer guest and how it relates to “the passion for procrastination” of money tasks. Learn here how to solve this insidious dysfunctional money habit

Miss Thrifty presents “Do you have the perfect life..?” posted at Miss Thrifty.

Tom @ Canadian Finance Blog presents Do You Know Where Your Bills Are? posted at Canadian Finance Blog. He says: Taking a look at monthly bills to ensure that we are not being overcharged, and what to do if we are.

Step #4: Making it happen – Others

Having an idea, a good friend and a nice sheet of paper with a plan is great but nothing will happen until you actually start working hard! The key is to work on your project a little bit every day. This way, you build a habit of working more and soon you won’t feel like you’re working harder.

Craig Ford presents Student Loan Debt Forgiveness | For Ministers & Non-Profit Workers posted at Money Help For Christians. He says: How ministers and non-profit workers can have student loan debt forgiven.

J. Money presents Metal Detecting is Cool, Damn it. posted at Budgets Are Sexy. He says: Have any of you guys tried it before? It may sound nerdy as hell, but I gotta tell you – it’s really exciting.

Joe Plemon presents Settling an Insurance Claim After an Accident – Struggling with Guilt, Doubt and Greed posted at Personal Finance By The Book. He says: For most of us, our anxieties in dealing with insurance companies stems from concerns that we won’t be fully compensated. This is a story of a woman who has other concerns.

BWL presents Checklist To Get Your Affairs In Order posted at Christian Personal Finance. He says: This article starts with a quick story. The writer was on a plane that made him feel a bit uneasy which led him to create a checklist to get his life in order.

Cheapskate Sandy presents Sometime You Just Have to Ask posted at Yes, I Am Cheap. He says: Sometimes you just have to call your creditors and ask for what you want. It just might work.

Moneyed Blogger presents How To Get Your First Job After College posted at MoneyedUP. He says: Getting your first job after college is tough. Use these tips to help you or a friend get started in a career.

Michael presents What is a Good Credit Score? posted at The Dough Roller. He says: A look at what I consider to be a good credit score (and a bad one for that matter).

Contact presents Is Discover the Rodney Dangerfield of Credit Card Issuers? posted at NerdWallet Blog – Credit Card Watch. He says: Discover has a reputation for not being widely accepted. And while the bad reputation is not without merit, it’s quickly fading from truth into perception. Even since 2007, when Discover was the butt of jokes on Futurama and Family Guy, things have improved substantially.

BudgetSnob presents Are People Without Nice Things Lazy? posted at Budget Snob.

I hope you have enjoyed this carnival of money stories with a little bit more about my online company! If you want to know more, be sure to register for my newsletter!

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Comments

Thanks for putting the carnival together. So much to read and so little time!

[...] we are featured in this week: Money Stories Carnival of PF If you enjoyed this article, please consider sharing it! [...]

Thanks for including me!

[...] post was included in the Carnival of Money Stories over at The Financial [...]

Great job hosting Mike. I always love hearing about your blog empire!

Thanks for hosting and including my post. Greatly appreciated.

Thanks for including my article, I appreciate it!

Cool theme and thanks for including me!

Thanks for hosting! And thanks for including Funny’s squib about working more in retirement than on a job.

To blogging success!! Keep doing your thang boy.

Thanks for the link!

Thanks for sharing this with everyone! :)

[...] This article was featured in the Carnival of Money Stories – Starting a Sideline Edition posted at The Financial Blogger. [...]

Thank you for including me in the carnival. Will stumble!

Thanks for hosting and for including my article!

Your company sounds like interesting work, good luck with it! Thanks for letting me be a part of this carnival!

GREAT topic!!! There are so many interesting articles here- where to begin? Of course, thanks for including my post about Juan and dysfuntional money habits. Best regards, Barb

Thanks for including NerdWallet!

Thanks for hosting my article! I appreciate the work you put into this carnival.

[...] week’s edition of the Carnival of Money Stories is up at The Financial Blogger! Make sure you head over there and check out all of the great [...]

Excellent compilation of posts! Thanks for hosting and for including our post!

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