December 5, 2019, 9:39 am

How to make money as a freelance writer. A beginners guide

by: The Financial Blogger    Category: Blogging,Make Money Online

So, you have a passion and flair for writing, and you want to make a little money with your talents. The freelance writing industry is absolutely booming right now, which means that it’s easier than ever to find work and to put your writing skills to the test. Believe it or not, you don’t need an English degree or a background in professional writing to make it as a skilled writer. What you will need however are some good basic writing skills, creativity, time and familiarity with plagiarism and apa citations and formats – such as the Modern Language Association standard format

Image by Lukas Bieri from Pixabay

There are lots of prospective writing options that you could make money from, so with this in mind read on for how you can make money as a freelance writer. 

Start a blog

You’ll find that most freelance writers host and write their very own blogs. Why? Well, it’s good writing practice for a start. It’s also a good way for prospective employees to find out more about you. They can see how you write, your style and get a measure of how dedicated and passionate you are about writing. Your blog could also be a source of advice for other freelance writers, which in turn can provide you with access to the freelance community and further job leads. 

In addition, you may have the opportunity to make money from your blog itself by selling advertising space or even reviewing relevant products from third parties.   

Get paid for writing listicles 

We all enjoy reading listicles. Whether it’s the top ten moments from Friends, or 15 of the best celebrity Halloween costumes this year. Listicles are usually filled with images and gifs as well as being based on your own opinions, so if you’re already thinking of the answers to the examples above, then why not get paid for it instead! Pop culture sites such as Buzzfeed and Mashable are bursting with listicles! Complete a quick google search and find out who’s hiring. 

Self-publish

Sitting on a really good novel idea but worried about being rejected by a publisher? You’re not alone. Due to the high rejection rate and slow paced approach of traditional publishing, more and more writers are turning to Amazon direct publishing to realise their dreams of becoming published authors.  It doesn’t have to be a fantasy novel, it can be anything – a collection of poetry, funny anecdotes or even a subject that you’re truly passionate about. Don’t forget to update your blog and let everyone know you have a book available

Try your luck at a writing contest

Forget those old writing contests you’d try to win at school. Real writing contests are a whole different ball game where it doesn’t matter if you’re a professional writer or a beginner. Search for free entry writing contests online and try your luck at bagging some of the cash prizes! Even if you don’t win, it’s a good opportunity to practice your writing style and present your work to a different audience.  

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November 29, 2019, 6:24 am

Techniques to Increase Cash Flow for Household Expenses

by: The Financial Blogger    Category: Uncategorized

Most people, whether you’re rich or poor, feel like they could use some more money. Sometimes it is not about how much money you have but how much money spend. Understanding how much you can spend to keep saving is key. It all starts with gaining the knowledge of financial literacy and using it to your advantage. There are some simple steps to take when it comes to cash flow. Keeping money in your bank account will enable you to save and overcome financial hurdles. Below are a few tips to help you increase cash flow for household expenses and financial well-being.

Creating a Monthly Budget

Source

Perhaps the most important thing and first step when it comes to increasing cash flow is to create a budget. The best way to get started is to create a monthly budget. This includes all of your bills and expenses. Making a budget plan that is as detailed as possible will help you avoid making mistakes when it comes to spending. But you can also make mistakes when it comes to the budget itself. For example, you always want to make sure that you are including all of the expenses that may not occur monthly. Some of these are groceries, gas, car maintenance, home upkeep, and vacations.

Everything should be incorporated into the monthly budget, even one-time purchases. According to the site MoneyPug, which is used to find payday loans, one way you can do this is to add up all of these expenses for the year and divide them by 12. This will give you an idea of how much you can spend on non-monthly expenses each month. Once you create a budget, you should watch your spending carefully and after a few months of following this you will have a realistic view of where you are spending your money and where you can cut back.

Cut Down on Monthly Costs

Using your monthly budget, you can see how much you are spending, what you are spending on, and how you can change the balance. There are so many ways to cut down on monthly expenses, it is up to you to find out what you should spend less on. Some ideas are to begin bringing your lunch to work, eating out less in general, turning down your thermostat when you are not home, and using public transportation. Other ways to cut costs is to spend less on groceries, carpool to work, and taking a “staycation” instead of a vacation somewhere far away.

Try to Increase your Income

While this may sound like an obvious statement, there are ways to think outside the box and increase your income. Start, for one, with taxes. Make sure that you are taking a hard look at your taxes and see to it that you are not overpaying and getting the amount that you deserve back. You can look for a new job, or get a second one when worst comes to worst. You can also work overtime or start a side hustle. Finally, the best way to increase your income is to innovate. Start a business that will provide a future of fulfillment and prosperity. If you end up adding extra work, it doesn’t have to be forever. It is better to reduce your monthly costs and before you take on more work, try downsizing.

Think about your Lifestyle

Here in the hyper-capitalistic and consumerist United States, we often perceive wants as needs. Sometimes we don’t need that big of a house, that many possessions, or that extravagant luxury car. Before you take on extra work to increase your income, you should think about your lifestyle and how you can downsize it. It is likely that you don’t need all you have, and you can relieve stress by maximizing the efficiency of your life. You won’t regret it, happiness is more important than possessions.

It doesn’t matter how much money you have, everyone can learn from creating a budget and increasing cash flow in your home. When you have more money on hand and spend it wisely, you will be able to save and invest in your future while living comfortably. It is best to think about these things deeply, with every intention to cut down needless spending and work towards prosperity, financial literacy, and liberation.

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November 6, 2019, 10:18 am

Things Worth Sacrificing to Become Debt Free

by: The Financial Blogger    Category: Pay off your Debts

Image by Jill Wellington from Pixabay

Outsized debt from overindulgence is far too common. Yes, we know the sudden loss of a job or an unexpected medical expense can also cause personal finances to spiral out of control. However, if an emergency fund were in place, the situation would be considerably less severe.

Unfortunately, many of us overlook the possibilities of problems in our pursuit of life’s pleasures. With that said, it’s time to consider what things are worth sacrificing to live debt free.

Free Time

If you’re carrying outsized debt, odds are you can’t afford free time. OK, yes, you do need some time to recharge from time to time, but sacrifices will need to be made to eradicate your debt. This means earning additional income. Hopefully, you can find a way to accomplish this by doing something you enjoy. Perhaps you have a hobby capable of generating revenue. If not, you’re going to have to find a way to bring in more cash.

Either way, it’s time to get busy.

Extravagant Possessions

Are you sitting on a collection of watches worth thousands of dollars? Do you have a sports car in the garage you only drive once or twice a month? A sailboat, an airplane? Whatever it is, if it isn’t absolutely endemic to your respiration, it should probably be sold off to satisfy debt.

After all, you probably went into debt to get it in the first place.

Expensive Entertainment

Going to see “Hamilton” in $400 seats you bought with a credit card? Yeah, it’s time to stop doing that. Eating in restaurants several times a month? Yep, time to kick that to the curb too. You should also be taking your lunch to work every day and walking right past the gourmet coffee shop, foregoing that five-dollar latte every morning. In fact, changing just that one habit will net you somewhere around $200 each month you can use to keep creditors at bay.

Now, with that said, it is important to allow yourself moderately priced entertainment while you work your way through the problem.

Just keep it reasonable — and pay cash.

Your Pride

There’s no shame in admitting you have a problem you’re unable to solve on your own. This is why programs like Freedom Debt Relief exist— to help people who need it. Of course, the first step is admitting it to yourself. Then you can find the help you need to reach a viable solution. This might be debt settlement, a consolidation loan or maybe even bankruptcy.

Whatever it turns out to be, it’s OK to sacrifice your pride.

Social Media

OK, so Scott and Becky are spending a week on the Grand Princess in the Caribbean. Trevor and Steven just redecorated, while Glenda and Mary just got a new Range Rover Evoque. 

Looking at it on Instagram, Facebook and Twitter, you’re feeling left out because you aren’t doing something commensurate. So, you go into debt to take a river cruise in Holland to give you something to brag about.

Bad idea. Odds are, they’re leading that “amazing life” on credit too.

Stay off social media while you deal with your debt.

Common Sense Isn’t Common

Yes, a whole lot of this is just common sense. However, common sense can fly right out of the window when it comes to emotional issues. All our lives we’re told living a lifestyle of abundance is something to be pursued. Meanwhile, we’re also told owing people money is bad.

Thus, our common sense says, “Avoid going into debt” while our egos say, “We work hard, we deserve nice things and we can always pay them off over time.” Then, when the bills are more than can be comfortably paid, the ego falls strangely silent.

Which brings us to the key thing worth sacrificing to become debt free: Ego.

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November 5, 2019, 9:52 am

Advantages and Disadvantages of Options Trading

by: The Financial Blogger    Category: Investment, Market and Risk

Image by Gino Crescoli from Pixabay

When engaged in strategically, options provide traders with a profitable opportunity to engage in buying and selling of stocks. Options can also be used to reduce the risks of losses occurring. In this article, we will be looking at some of the benefits of engaging in this trade. We will also look at some of the drawbacks.

Let’s kick off with the advantages.

Benefits of Trading Options

  • Options trade require a low financial commitment

This is just one of the many advantages of options trading over stocks trading. The cost of purchasing an option is way lower than the amount that would be required to pay for shares. Traders who have invested in options make payments that are way lower compared to stocks but if the trade works in their way, both traders stand a chance to reap equal benefits. 

  • Options Investors are allowed to fix stock prices

Options contracts give the trader the freedom to fix stock prices at a certain level for a specified duration. This allows the traders to be able to buy/sell contracts at the desired price before the contract expires.

  • Flexibility for traders

Options traders benefit from the flexibility that the trade offers. Before the expiration of a contract, the traders are given several strategies which they can put to use. The strategic moves include; buying shares and adding onto them into your portfolio or buying shares and later sell part or all of them. This and other moves can help you to reduce the possible risks of an options trade.

  • Losses are limited to whatever is paid for

Whenever you call or put an option, you are not compelled to follow the trade through to the end. The case is different while trading in stocks. If your predictions in an options contract are incorrect and a loss occurs, you only make losses on the contract and the trading fee.

Downsides of Trading Options

  • Traders must meet set requirements

Some set requirements must be met before traders can start this trade. Options traders must maintain a minimum balance of $2,000 in their accounts. The first requirement is that you apply for approval from your options broker. To grant you this approval, the broker will ask several questions aimed at verifying your financial and investment experience. 

Choose a broker whose terms are favourable to you.

  • Limited time to make the next move

Although it has many alternative strategies, options trade is short term in nature. Trades normally take place within days or months and investors have to capitalize on the prevailing price movements. Traders have to study the trends and make the important decision of whether to buy, sell or walk away from a trade before the contract reaches the expiry. 

Things to Do That Can Help Minimize the Drawbacks of Options Trading

  • Never stop learning.

Keep doing your research on trading as you wait for the trade hours to clock in. This will expose you to new techniques and tricks. It will also prevent you from making uncalculated trade decisions. Learn from trade webinars and read informative trading media.

  • Delve deeper into specific patterns

Note down all indicators and all the elements that come with it. Scroll through past charts to see how the two affect each other.

  • Initiate trading chats

Got some questions? Consider discussing them with fellow options traders or your broker. There is a lot that you can learn from other traders. Use this as a chance to educate yourself and to develop your skills further.

Summing It Up

It is important to choose an options broker. Apart from offering you a platform where you can trade in options, a broker offers you the professional advice that is required until you can make trade decisions independently.

The broker will give such advice like which trades to place and setting the appropriate expiry time. He will also give you a breakdown of the potential gains.

To make sure you develop your skills, the brokers have a platform where you can gain experience by practising trading on a demo account.

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October 28, 2019, 9:29 am

Venture Funding: Weighing the Pros and Cons

by: The Financial Blogger    Category: Investment, Market and Risk

Image source: Pixabay

Venture capital financing sometimes allows small businesses to grow quickly, especially if they were successful early on. Many different types of companies use venture capital to expand, although not all are successful. This type of funding can be difficult to obtain, as it is not a loan and using it wisely may require some guidance; however, whether you are accepting venture capital or offering it, there are some pros and cons you may want to be aware of before you begin. 

Pro: You May Struggle Less 

When you accept venture capital, it can give you the means to cover expenses right away instead of having to depend on profit. As a result, you may struggle less when it comes to growing your company. You can purchase resources, pay vendors, and hire as many employees as you need without the burden of a bank loan or tightening your budget simply to meet these necessities. This may result in quicker company growth. 

Pro: Increased Networking 

Once you find venture capital financing, your investors will probably introduce you to other investors and people in his or her circle that may be interested in your company. This can help you build a network you can turn to when you need additional financing or want to reach out about finding new talent. The more individuals you have in your networking circle, the more potential resources you may have at your fingertips. 

Pro: Venture Capital Financing Is Not a Loan 

One major advantage of securing venture capital financing is that you do not have to pay any of the money back if your company fails to grow. This can have a variety of advantages for you as a business owner, including: 

  • No negative impact on your credit score 
  • No hefty interest fees 
  • No prequalification restrictions 

While your investors likely understand the risks of venture capital financing, it is wise to discuss all aspects of the process before you accept the funding, such as whether you plan to take your company to direct listing and which resources are needed for fast growth. This may help you and your investors maintain better communication, especially during periods of rapid expansion. 

Pro: You May Attract Better Talent 

Once you obtain financial backing via venture capital, you may be able to hire highly-qualified individuals and offer them the kind of salary that will keep them loyal to the company. This could result in reduced employee turnover and training costs, both of which can be a drain on company resources. Competitive salaries may also raise employee morale and maintain consistent quality control for product output and customer service. 

Con: Shareholder Interference 

Owning a business can be liberating, as you become your own boss and make all the major decisions regarding the operation and growth of your company. However, when you agree to accept venture capital financing, you are also allowing others to own a share of your business and perhaps take some control out of your hands. If this type of power shift concerns you, then accepting venture financing may not be the best choice and you might want to explore other options. 

Once you have more than several shareholders, they may vote to change certain aspects of your business and since majority rules, you may have to tolerate these changes. If you want to limit these actions, it is wise to do so when shareholders are first informed of their rights and limitations. 

Con: Investments Are High Risk 

While some individuals like Mark Stevens have made billions by investing in venture capital, being on the investment end does have its risks. A supported company may fail without warning, and since this capital is not loaned money, any investor in this position would stand to lose his or her investment. Some ventures might be riskier than others, but overall, investing in any startup this way may result in a financial loss. 

Cons: Your Salary May Be Reduced 

Receiving venture capital financing can allow you to purchase resources, hire talented workers, and obtain the tools and machinery you may need for growing your business. However, your shareholders may ask you to take a pay cut so financial resources can be spread through the company. If majority rules on a decision like this, you may find yourself with plenty of cash for the business but significantly less for yourself. 

Con: Venture Capital Can Be Difficult to Obtain

Venture capital financing has a variety of advantages that could give your startup a boost, but it is not something you can obtain easily. Many small companies are seeking this type of funding instead of opting for a traditional bank loan, so you may find the market crowded. Savvy networking may help you find an investor that suits your needs, but it may take months to work out a deal that is beneficial to you both. 

Venture capital financing has a number of pros and cons for both business owners and investors. Understanding the impact of these factors may help you make better investment choices, no matter which side you are playing.

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