Earning an extra penny:
An extra Income really makes people happier and also improves their lifestyle. Extra Income means an income that you can earn apart from the regular income coming in from employment or normal work. This earning can be used to pay off your outstanding debts or build up a capital account or spend it on luxuries that you could only think about before. Everyone seems to want a second income but no one wants to work a second job, so the extra income is normally seen as a windfall.
Why does this happen? People always look at their income relatively with some norm or the other and the norm keeps rising all the time. And this norm is what increases the spending, more or less in direct proportion to the income. Two things drive up the norm with which people compare their incomes. One is the income that they themselves have experienced - which habituates them to higher standards of living. And the other is the income that their colleagues or neighbors get, and which they try to outdo. The extra income options available today are targeted to generate employment and are targeted specifically at people who can use their skills that are lying dormant to make some more money for themselves. To achieve a moderate success in generating an extra income one should be aware of their strengths and weaknesses. This would greatly help in selection of a most suitable way to generate extra income.
The selection process consists of logical steps. Firstly one should ask themselves of an honest opinion of their strengths, what they excel at? What do people around them keep complimenting or criticizing them on? Are they perfectionists? For example, if you are a computer literate you could help your neighborhood in upgrades, repairs or installation of software.
Today the internet and the general market have a lot of ideas for generating extra income. Network marketing in general market terms has been successful to some extent. Internet offers something similar that says affiliate marketing. The internet also offers a host of other options like writing, advertising and simple technical non-technical jobs which can highly augment your regular income. The extra income that can be earned form these opportunities depends on how good your skills in the field of your selection.
Giving yourself a Pay Raise with Extra Income
Extra Income opportunities are basically work-from-home opportunities that help augment your regular income. Many people are opting for these work-from-home opportunities for the following reasons:
1. Most people think they are losing the battle to balance work and family, time wise and income wise. If they are going to work 12 hours a day outside home and just manage to scrape the bottom of the vessel for survival, finally coming home too tired to spend any time with family, is it worth the effort?
2. A burning desire to be financially independent and successful by adding that extra income to their regular income with popular work-from-home opportunities.
The very fact that these extra income churning work-from-home opportunities have become popular is due to the above mentioned factors. These opportunities present a lot of flexibility in spending time with family and children, social commitments and of course financial liberation. These extra income generating opportunities also give you a chance to be your own master and work your own times.
How to find a suitable extra income generating opportunity? Here are some dos and don’ts:
1. Analyze yourself and find out what your core competency is Marketing, Writing, Programming or anything else that you excel in.
2. Analyze what your friends and family see in you, what they praise you for and what they criticize you for. This will help in narrowing down your options.
3. Try and find out how different or relevant it is to your regular job or work that you do today.
4. Ask yourself about the job satisfaction that you have today and you might have if you get a suitable extra income generating opportunity.
5. Analyze the skills that you possess but have gone unused since you have been working. Ask yourself, if you would be comfortable bringing them out to generate that extra income?
Get going in a small way, spending about an hour a day. Try it out before you commit to something. Analyze if you like doing the work after a period of about 1-2 months and see the extra income you earn. If you think that the work is suited to you and the work has enough potential to earn you the extra income that you were targeting for, try to spend more time and energy on it to increase that extra income. If you see that you really don’t enjoy it, shift the focus to the second opportunity on the list.
Remember these opportunities are basically work being done for other professionals and they have to be treated with professionalism and care. You cannot take them lying back and expect returns. The only advantage is that you will be doing what you love to do and get paid handsomely for it.
10 Reasons to start earning an extra income
Extra Income does not come for free. It involves hard work but of the kind you would want to do. It is not hard work when you are doing what you always wanted. A little bit of inspiration could get you off the mark, wouldn’t it? Let’s get going point wise;
1. You will be your own boss with no one looking over your shoulder. Freedom of time, moment, goals, finances everything left to you.
2. Work at your convenience. Be your own time master. Flexibility benefits are more for mothers and people having other responsibilities apart from profession.
3. Flexibility to do whatever you want to do, whenever you want to do it.
4. The above factors help you to pursue your regular income job until you are sure of the extra income business. You can always switch.
5. Job security and fear of unemployment vanish.
6. Sense of pride. Make you more of a complete person who can proudly say that he/ she are an entrepreneur who has achieved something.
7. Self confidence going through the sky. This factor will help you face most hurdles in life with a lot lesser heartaches and stress.
8. Limitations of earning do not exist. You can earn as much as you want by just stepping up the speed.
9. Many countries offer tax benefits for home based businesses, since it is considered extra income. So greater credit ratings with lesser tax obligations.
10. You can retire at your own time, at 30 or at 60; it’s entirely up to you.
Success becomes a commodity which you can measure with your own yardstick rather than others, which contributes a lot to your personality and the finances through the extra income you earn. The above reasons are certainly worth a glance if you are considering being successful and independent in life.
