What to Do When You Have Too Many Bills and Not Enough Income

If you dread opening the mailbox because of monthly bills, it may be time to evaluate your financial situation. Having too many bills and not enough income is a major red flag. It likely means you are exhausting your income which leads to debt. You are jeopardizing yourself even further when you use credit cards to make it from month to month. If this sounds like you, here are a few tips to help put you in the driver’s seat and take control of your personal finances.

What Do You Do When You Have Too Many Bills and Not Enough Income?

Take Control if You Have Too Many Bills and Not Enough Income

Balance Your Books

The first thing you must do it to balance your books to see why you have too many bills and not enough income. Inventory all your bills and outgoing payments within a month. Write it out instead of pulling it from memory to be certain you don’t miss anything as well.

The easiest place to begin is with your monthly statements. It can be overwhelming if you have a lot of bills coming in each month. Break them into smaller categories like utilities, loan, and credit card payments and deal with them one by one. If you tend to forget payments, set up electronic ones online. Then you will never have to worry about late fees or other penalties again.

Review the Monthly Budget

As you are looking over those monthly bills, pay attention to the larger expenses on your credit card statements. This is a great way to review your family’s spending habits and see where all your extra cash is going every month. Those micro-transactions for fast food, coffee, and other daily expenses add up quickly. Enforcing a little self-control and sticking to the budget saves more money than you might think.

Another way to reduce your monthly spending is by getting rid of unnecessary expenses. Eliminate subscriptions, memberships, or services that you are not fully utilizing. You can also look for bundled or packaged services for insurance and telecommunications. Be sure to shop around and compare prices to get the best prices possible.

Eliminate Your Debts

The next step to regain control of your finances to tackle your debts. Contact any lenders or collection agencies where you owe money. Discuss settlement and repayment plans to get you out of the red. Often times, you can negotiate for manageable terms since they are willing to work with you.

If you have considerable credit card debts, you may want to consolidate your debt into a single monthly payment. You can do this with a refinancing loan or go through a debt relief agency to negotiate on your behalf. You will usually get lower interest rates as well.

Increase Your Income

Of course, the easiest way to solve this is to get more income. First, look for opportunities to earn more at your current job. You could pick up extra hours, ask for a raise, or go after a promotion. It is much simpler to increase earnings at a job you already have than to find a new one.

However, if you still have too many bills and not enough income, you may consider a second job. Another option is to search for ways to earn passive income. This could be the perfect time to turn your hobby or services into a small business venture.

No Excuses

Finally, you cannot make excuses for your poor decisions. Avoiding your financial issues won’t solve anything. Furthermore, small issues will easily grow into more serious problems the longer you look away. You must be brutally honest with yourself to get spending habits and debts under control. Rationalizing your behavior is not helpful or beneficial for your financial health.

It takes sacrifice and discipline to reach your financial goals, no one can do the work for you. Most importantly keep a positive outlook and remind yourself that you are capable. You should also find ways to motivate yourself to continue moving towards your ultimate goals. It can be a long and arduous process, but there are ways out of financial hardships towards a more secure future.

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Ways to Get Paid by Writing Songs

Ways to Get Paid by Writing Songs

If you have a talent for writing songs, chances are you have been dissuaded from pursuing a career in music. Many people do not consider it a lucrative venture or stable employment. However, most songwriters are not doing it for the money. The good news is that there are ways to get paid by writing songs. If you are passionate and driven, here is how serious writers generate income from their music.

Earn Royalties for Writing Songs

Royalties are the primary source of generating income for songwriters. Songs earn royalties each time someone uses, plays, or performs them. It includes every time your work gets radio play or when there is a public performance. Royalties encompasses everything from the song’s use on TV to the sale of sheet music. While some ‘old school’ sources of royalties have become less common today, there are new ways to get paid by writing songs.

The constant technological advancement has also created new ways to generate money. In the digital age, you can also make a lot of money through download and streaming royalties. You can then sell your songs to music libraries and distribute them through music services like Amazon Music, Google Play and iTunes. People and companies must pay a synchronization license fee to use your music in commercials, movies, or TV series as well. Furthermore, you can generate mechanical royalties from companies that manufacture a product using your song. In such an interconnected society, there are many ways to get your music out there.

 Paid Public Performances

Don’t forget that you also get paid when your music is performed. Your music generates live performance royalties for each public performance. You earn royalties from ticket holders as well as each time someone publicly plays a recording of your song. The amount of money you make though varies greatly. Negotiations between the venue and the Performing Rights Organization will ultimately determine how much you earn. Be sure to register all your songs and set lists to ensure you get paid by writing songs.

If you are lucky, you may broker a deal with a publishing company that will pay you advances. This allows songwriters time and space to create without the pressure to get paid by writing songs. For those with even greater ambitions, you can also look into starting your own record label. Increased number of performances and artists equates to more money in your pocket.

Get Your Name Out There by Writing Songs

If you want to break into the music world, the most important thing is to get your name out there. Start producing your music and post it everywhere. Use every medium that is available to you. You can even take the initiative to write a brief and approach companies to pitch your songs. The more exposure you get and more internet traffic you create, the more likely it is to connect with someone who can help you advance your career. The only way to become successful is such a competitive industry is through persistence and constant self promotion.

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5 Easy Ways to Earn Money on Valentine’s Day

5 Easy Ways to Earn Money on Valentine's Day

Earn Money Instead of Spending It

Valentine’s Day is quickly approaching, and for many people this means expensive gifts and dining. However,  there are others who prefer not to become victimized by the commercialism. They take advantage of this holiday to make some extra cash rather than spending it. Here are 5 easy ways to earn money on Valentine’s Day.

Easy Ways to Earn Money on Valentine’s Day

1. Get Busy Creating

Valentine’s Day is a huge money-making day for anyone working in retail, flowers, or confectionery goods. Small businesses can make a killing by attracting new customers with discounts and themed pieces. Therefore, this holiday is the perfect opportunity for the artistic and crafty types to get to work.

If you are a baker, start whipping up your favorite desserts to bring in some extra cash. If you’re an artist, perhaps greetings cards or commissioned work will earn you some additional income. For the musicians out there, consider learning some popular love songs and try your hand at busking. There are endless possibilities for finding the perfect gift, so get your name out there! Use your talents as an easy way to earn money on Valentine’s Day.

2. Throw a Singles Party

It’s no shock to hear that many singles dread Valentine’s Day. However, you can bring people together and celebrate your status by throwing a singles party. Whether you are looking for love or simply want to meet new people, a party is a great way to mingle. Choose a location and charge a flat fee to cover the expenses for food and beverages as well as your time. With the right theme and entertainment, you could create an annual event people look forward to and talk about the rest of the year.

3. Babysitting Services

Offering childcare services is a great way to capitalize on this holiday. If you prefer to stay in anyways, ask around to see if someone could use a night away from the kids. Babysitting rates usually range from $10-$15 an hour, although you should ask for more past midnight. Rates also vary based on the number of children and years of experience.

There are also agencies and periodicals you can work through if you don’t know anyone who is looking for a sitter. Try listing your services on sites like nanno.com or browse job posts on care.com. If you enjoy kids, this is a great and easy way to earn money on Valentine’s Day.

4. Photography Service

If you have an artistic eye and quality equipment, photography and videography are great ways to make extra money. Many couples celebrate anniversaries, engagements, and weddings on Valentine’s Day. You can be a part of their special day by capturing and immortalizing these moments. With the right lighting and editing skills, you can provide couples with a priceless gift they can treasure forever.

5. Date Planning

The fact is romance does not come easily to everyone. Event planning is the perfect opportunity for the hopeless romantics to really shine on Valentine’s Day. To spare someone the agony of planning an unsuccessful evening or a disappointed partner, you can put plan a romantic date for various budgets. Come up with a variety of packages that include locations, restaurants, photographers, and entertainment.

Transportation is another, less involved date service you can provide for the happy couples. Many people will be working since the holiday falls in the middle of the week. This means they will need delivery services during the day. At night, you can be certain people will need a ride home after all the bubbly. You can sign up with a taxi-hailing company or app if you have your own car, or drive with a fleet if you have a valid driver’s license.

The Bottom Dollar

If you decide to capitalize on Valentine’s Day, there are tons of easy ways to earn money. Play to your strengths and customize your marketing approach. There is someone out there who is looking for exactly what you are offering. Thanks to the internet, it is now bringing people together in new ways. If you have an idea, get out there and find your niche.

 

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