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Career and Work

Given the option, owning assets that produce income is a much better financial strategy than owning assets that generate expenses.

If you own a house or apartment for your own residence, for example, you have a lot of expenses. You will need to pay for maintenance, repairs, taxes, mortgage interest, landscaping, and utilities. Or you may pay a homeowner association fee that covers some of these expenses. If, however, you own a house or apartment that is available for rent or lease, you can generate income with the property. In some cases, you can even end up with positive cash flow after you pay the expenses.

Being a landlord is a viable vocation. After all, landlords exist for every rental tenant, and they often thrive financially. Sasha, a former writer for Consumerism Commentary, owns several properties. She shared tips for buying a rental property for prospective landlords based on her own experiences.

Succeeding in the business of rental properties requires a certain set of skills and desires, and making a living isn’t always as easy as others would lead you to believe. If you want to earn a living — for example, the equivalent of a $50,000 salary — you’ll need to profit more than $4,000 per month. That’s a lot of pressure.

Consider these questions and tips before jumping into the rental property business. That way you can determine whether you have what it takes to be a landlord.

Do you like “doing it yourself?”

If you’re a handy person who likes doing your own work around the house — light plumbing, perhaps some construction, yard work, and so on — you might be a good candidate for becoming a landlord. If you’re just starting out, you may be unable to afford outside contractors while still turning a profit. Doing the work yourself saves money.

Do you know the right people?

Do you plan to expand your property portfolio beyond one or two locations? (If you want to earn a living, you’ll likely need to expand quickly.) Well, you’ll soon reach a point where you can’t handle all the work yourself.

You’ll need to call in trusted contractors to handle repairs quickly and thoroughly. If you have personal relationships with contractors, you’re in a better position to negotiate discounts and enhance your overall profit. These relationships take time to build, and it takes time to find the best people to hire for the work. If you’re able to begin your adventure as a landlord with these relationships already formed, you’ll be in a much better position.

The same is true about real estate agents. If you have connections in this business, you will have better access to potential tenants, reducing your advertising costs. You may hear of new deals coming to market before the sign is even out in the yard. Word of mouth is incredibly important, and knowing agents can remove some obstacles before you even get started.

Can you handle the 24-hour responsibilities?

Hiring a company to manage your properties cuts into your profit. Depending on the location, you may be able to afford this from just your rental income. If that’s the case, work with a property management company that will answer the phone at all hours to fix any problems that arise.

Otherwise, if you’ll be DIY-ing the management, be prepared for calls in the middle of the night from tenants for problems big and small. If you’re starting your adventure with rental properties while working at another job, you will find yourself with competing priorities often.

Do you like dealing with people?

Some tenants can be difficult; there’s no way around it. In most states, tenants also have legal rights that level the playing field in disputes. If you’re able to screen tenants well and have a choice of potential residents, you can carefully choose who will be living in your house or apartment. If, however, you need to fill a vacancy to prevent losing money every month and there aren’t enough tenants interested in the property, you may have to accept a tenant you might not like in order to prevent negative cash flow.

Even if you believe you’ve chosen well, dealing with strangers is not for everyone. Tenants will certainly not care for your property as well as you would. Even nice people can surprise you in a tenant/landlord relationship. To become a landlord with a successful business, you’ll need to be able to deal with people who might be different from you in terms of values and personality.

Do you have cash and savings to buy the properties?

The great thing about buying a house with cash, rather than with a mortgage, is that you can eliminate the expense of the mortgage payments. Every cent of rental income you receive (after maintenance expenses) is profit. That can make the difference between a rental property business that succeeds and one that struggles.

Leveraging your property purchase by using other people’s money — a mortgage — can turn out to be profitable when property values increase, but that’s not guaranteed. Loans open up the possibility of becoming a landlord to more people, easing the affordability of properties. Having the cash to buy the property outright is not necessary. If you have the money and are willing to invest in your own business, though, it will be much easier to generate a positive cash flow.

Can you charge high enough rent to cover your expenses?

In some locations, monthly rental properties are very competitive. That can drive down prices, decreasing your profit. If you’re competing in an area where most investors own their properties outright without a mortgage while you have mortgage expenses to contend with, you have less pricing flexibility than your competitors. You need to charge high enough rent to cover your expenses, while still hoping to take home a profit.

With mortgage payments to contend with and potential competition, you may only be able to profit $200 to $400 per month on a property. That’s $4,800 a year… a far cry from the $50,000 we’re talking about for earning a living. You’d need to own over 10 properties, each profiting $400 per month, in order to reach that target.

Related: Using the 1% Rule to Determine If a Rental Property Is a Good Investment

Sure, once you own multiple properties, you may also be able to increase that per-property profit due to economies of scale — buying materials in bulk and receiving significant discounts from contractors. You might be able to reach the annual income target faster, but it will still take a long time to reach the number of units necessary. Use this mortgage calculator to assist in determining how much profit you might generate.

In other locations, though, you can charge much higher rent compared to the purchase price or mortgage payment. Property prices still tend to be high in New Jersey (where I live), so potential for profit isn’t as great. Head to other areas of the country, though, and you’ll see a different story. There, you can buy properties commanding rental fees of $1,000 or more, for purchase prices of just over six figures. Let’s say your monthly mortgage payment is $450 and you can successfully charge $1,100 in rent. Well, your path to earning a living just got much clearer and shorter.

How much work are you willing to do for an extra $400 a month?

The initial hard work may pay off when you add additional properties to your portfolio. However, the path to millionaire status through rental properties is not as simple as television shows on HGTV might lead you to believe.

You may profit in terms of your financial statements, but if you consider your time and your sweat equity worth something, the calculation gets a little trickier. This is particularly true when you’re doing more work to get started.

Learn More: Fixer Upper: What I Learned from Flipping My First House

Even in markets where home prices have remained relatively high, it’s still possible to earn a living with rental properties. The work isn’t for everyone, and that’s a good thing. Those who are willing to put the necessary labor into creating a successful business will be rewarded. While you can bring in extra cash from a sole property, earning a true living isn’t that easy. If you want to create a passive income that can support your family, you’ll need to expand and add some volume to your rental property portfolio.

Are you earning a living through rental properties? What lessons have you learned? If you’ve considered becoming a landlord but have decided against it, what held you back?

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So, you think you want to leave your job. Now what?

Job dissatisfaction is a worldwide experience, and the occasional desire to quit is universal. When unemployment is high, however, employees of all types can be wary about leaving one job. Employers have all the power in the relationship, and people often feel that staying in a mediocre job or career is a better option than taking a risk with a new position — or worse, with unemployment.

This is an especially valid concern for those who are merely skating by or have failed to really stand out in their existing positions. For these folks, a competitive employment season can be too risky to warrant walking away from the paycheck they steadily receive.

There are always exceptions

Great employees do not need to fear the unknown, though, as they tend to thrive in any situation. Even during periods of competitive job markets, a person for whom excellence is a thread woven into his or her psyche will find employers willing to open doors. The opportunities are out there and ripe for the picking, no matter the market.

Because these successful individuals typically outperform in all situations, though, self-evaluation can sometimes be difficult. 8 Questions Before You Quit Your JobThey are not necessarily those who are the best team players or who follow the company rules, but those who have the desire and skills to strive for excellence in all endeavors they pursue. This is a rare and valuable quality, and it’s a type of work ethic that needs to be instilled early in someone’s life.

It’s difficult to put your best effort into everything you do. If you don’t feel that your life is physically, emotionally, or mentally draining, you are probably operating at less than your full capacity. While I don’t necessarily advocate wearing yourself thin from dedication to your job, it is a trait that bodes well in the workplace.

Even still, these extreme efforts can cloud the perspective of some. If you’re putting in 110% for your job, day in and day out, it can be difficult to take a step back and see whether you’re really where you need to be. Ask yourself the following questions as you, as a high-functioning individual, are considering whether to leave your work behind in favor of new opportunities.

1. Is the company rewarding me for my work?

Reward takes a variety of forms, and the best situation is where your desires match what the company has available. For example, if your only sense of reward comes from financial compensation, working for a non-profit organization with a tight budget could be problematic. Look at the whole picture. If you are passionate about the work you do, your reward may be intrinsic in the work itself. If you are working at your position more out of necessity than desire, your reward should take other forms, as something that is meaningful to you.

You need to let your company know what types of rewards are acceptable, as long as your performance warrants. If the company can find no way to reward you for excellent work, you should look to move on. Employees who seek excellence will almost always be in demand. Mediocre employees, on the other hand, are more susceptible to market forces.

2. Do I have good relationships with co-workers and managers?

Mutual respect is an important aspect of a fulfilling lifetime experience. You may spend eight plus hours a day with the colleagues and managers in your workplace. If you don’t believe them to be good people or if they don’t believe you to be worthy of respect, the time you spend working with them will be unfulfilling.

Beyond respect, you should expect to feel comfortable and at ease. That doesn’t mean there can’t be a sense of urgency, if necessary, within your workplace environment. Respect is the base and, above that, good relationships contain trust. You should expect your co-workers to be just as reliable as you. You shouldn’t need to micromanage others, and they shouldn’t be micromanaging you.

You can’t expect that everyone in your office will be your friend, but you can expect an environment in which there isn’t a pervasive sense of negativity.

3. Is there enough variety in my day?

While excellent performers can certainly function well in daily, repetitive tasks, this isn’t the best use of someone’s time and efforts. Most employees feel under-utilized with their set of responsibilities and authority, but this can be a significant problem for people who strive to excel. Great employees might be willing to put up with limited activities for a while, but it might be better to leave than stick around if there’s no sign of this improving.

Related: How to Prepare With a Flexible Career Plan

The best position for a high-functioning employee is one where you have the opportunity to use as much as your skill set as possible. This is one reason excellence-focused individuals pursue their own businesses; this type of start-up work requires use of all mental faculties.

4. Can I continue to learn from my managers?

Education is a life-long endeavor, particularly if you work in, are interested about, or are passionate for an industry that continuously evolves. Excellent employees know that they should rarely (if ever) be the smartest person in the room. Constant self-improvement is a need, not just for career advancement but for a sense of worth and value. If you are going to spend a large chunk of your day working with people, you want to ensure there are opportunities available for you to continue building your skills, not just from a technical perspective but from a philosophical perspective as well.

Large companies with resources generally understand that employees have a need to continue learning but struggle to learn anything from managers. Taking the place of these learning opportunities, you may find mentoring programs, tuition benefits, company-sponsored seminars, and other programs designed to allow employees to expand their minds. These are good, but not the best replacements for having a mentor who is interested and able to provide the insight you need to improve.

5. If I resolve my dissatisfaction, will I be happy?

Imagine yourself continuing to work at your current company but with all of the above concerns resolved. If this scenario still leaves you wanting more from your employment, it’s a great indication that it’s time to seek other opportunities. Even if you can’t put your finger on the cause of your dissatisfaction, you deserve to be happy. The danger is chasing an unrealistic dream.

The solution is to realize that happiness is a choice. You can simply choose to be happy with what you have. This isn’t “settling,” it’s analyzing your situation and concluding that your needs are being met. If your company is doing a good job of listening to your concerns and willing to place you in the best working scenarios, there is little more you can ask. If you can’t be happy with this, consider whether you would be happy anywhere. If so, consider moving on; if not, choose to be happy.

6. Do I have another opportunity lined up?

A standard piece of advice is never to quit one job until you have another opportunity ready to go. People who strive for excellence might have some trouble with this concept. Someone for whom excellence is an important personal virtue will likely work hard until the day they quit, leaving little time for aggressive job hunting or soul searching. Excellence transcends job market conditions, though, so demand for you will still be high.

As a valuable contributor to your organization, you might not need to be concerned about your company knowing you’re seeking other opportunities. If you’re considering leaving, you should have already had discussions with your managers during which you’ve made them aware of your disappointment. So, this should not come as a surprise to them. The organization is not going to fire you if you are still a great asset, and they might even be willing to help you find your next opportunity.

You will need to dedicate some time to self-marketing. Many people who strive for excellence don’t need external acknowledgment of their virtues for self-satisfaction. To find a job, however, you’ll need to be less humble and more willing to sell yourself as a desirable product. If, however, you are interested in making your own opportunities, you don’t need to wait for a job offer. There’s no time better than now to start your own endeavor.

7. Is my emergency fund ready?

People often stay in jobs they don’t like because they don’t want to risk losing the income. Households have debt to pay, whether from student loans, the expansion of a household, or overspending. Debt traps people into a situation where a strong percentage of every paycheck is destined elsewhere. This isn’t much different than indentured servitude. Even people who strive for excellence can be unprepared financially.

An emergency fund is the answer. Take some time to build an emergency fund from the ground up. Start by taking a small percentage of every paycheck and automatically transferring the amount into a high-yield savings account. You’ll want this account to be able to cover your living expenses for several months to prepare for a potential loss of income. Since you strive for excellence, consider expanding your emergency fund into a multi-layered emergency plan, which offers more flexibility and possibly less time to put into effect.

An emergency fund lets you take more career risks without hurting your family’s finances. You could take a more interesting and rewarding job for less pay, or you can start a new business without worrying about the immediate loss of income.

8. Will my decision affect my family’s stability?

Single people have more flexibility. They can take chances, move from location to location, and put up with less stability than people who have the added responsibilities of caring for a family. With a spouse and children, every decision you make affects more than just one person — and it’s important to keep this in mind.

The emergency fund mentioned above can help smooth financial rough patches when you make your decision to quit your unfulfilling job, but you need to worry about more than just the financial concerns. If your dream requires you to move away from Kansas and set yourself up in California, you can’t make such a decision without considering the needs and desires of the rest of your family.

Learn More: Resigning on Good Terms

The reality of the economy is that most people cannot afford to consider quitting a job without a solid plan in place for replacing the income immediately. Job satisfaction is a luxury at a time when most people feel that they’re lucky just to have a job. If you are someone who strives for excellence in all that you do, you have more options open because you’ve done quite a bit to improve your measure of human capital. Regardless, it’s always a good idea to seek out solutions for improving your current situation before making a significant career move by quitting.

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This is a guest article by Mike Collins, creator of Wealthyturtle.com. He shares with us how he and his wife decided to become a single-income family, and he offers some useful advice for those struggling with the same decision.

Most new parents will at least consider the idea of living on a single income so one parent can stay home with the kids. But is this a realistic idea or just a pipe dream?

stay home

It’s a question my wife and I dealt with when we first started to build our family and it wasn’t an easy decision. In the end we decided that my wife would quit her job and we would find a way to make it work.

I’m not going to lie to you. It involved a lot of sacrifices and there have been times when we questioned whether or not we made the right decision. But ultimately I’m glad we did things the way we did.

How it happened

First, let me tell you a little about our situation and how we made our decision. Then, I’ll give you some tips about making the right choice for you and your family.

Way back in 2004, my wife and I were expecting our first child. Initially we figured both of us would continue to work. The plan was for my mother-in-law to watch the baby a few times a week and then we would find a babysitter to fill in the rest of the time. But my mother-in-law started having health issues and we realized that she wouldn’t be able to take care of a baby even for a few days a week.

We considered hiring a babysitter for the entire week, but the cost was just too much. When we ran the numbers and compared child care costs with my wife’s salary, we realized she’d only be bringing home a few hundred dollars a month. Most of the time she’d be working to pay a babysitter and that didn’t make a lot of sense to us.

Financial impact led to sacrifice

Meanwhile, I could tell my wife really wanted to stay home, and I leaned that way, too. My main concern was the financial impact of living on only one income. At the time she was earning almost as much as I was so losing her salary would effectively cut our income in half. Further complicating matters was the fact that we had just bought our first house. The monthly payment that we made comfortably on two salaries would become a heavy burden on one income.

Related: Learning to Live on One Income (By Choice)

Despite our financial concerns, we decided that my wife would quit her job. The years that followed involved a lot of sacrifices (skipping vacations, me driving a beat up old car with no air conditioning, falling into debt, constant stress about money), but we pulled through it together.

Of course, just because it worked out for us doesn’t mean that you should follow our example. If you’re thinking about becoming a single-income family to stay home with your kids, there are a few steps you need to take before deciding if it is doable.

Calculate Your Expenses

The first step in determining whether or not you can realistically afford to stay home with your kids is to add up all of your expenses to see exactly how much you’ll need to live on. Start by listing fixed expenses such as your mortgage or rent payment, utilities, car payments, student loans, and insurance.

Next, add in other monthly expenses such as food, clothing, gas, and entertainment expenses. You’ll also need to add in credit card payments and any other regular debt payments you make.

It’s a good idea to leave a decent cushion to cover miscellaneous and unexpected expenses that can and will pop up. And don’t forget that a new baby comes home with all sorts of new expenses of his own. Hospital bills can be shocking, and even the cost of diapers often surprises new parents who underestimated the cost of raising kids.

While you’re calculating your expenses, you should take a good, hard look at your spending habits. We all have money leaks that slowly drain our budget, and now is a good time to seal them up. Prioritize what matters most to you because choices are inevitable if you want to live on one income. You may have to settle for dining out less or downsizing your vacations for a few years.

Learn More: Travel Rewards Credit Cards — Get More Vacation for Your Money

Figure Out What You’ll Save By Not Working

Many people forget this side of the equation, but you might be surprised at how much money you can save by not going to work. No more gas and tolls to get back and forth from work. Less wear and tear on the car means it will last longer, too. And you won’t need to spend as much on clothes, dry cleaning, lunches, or your morning coffee for the ride to the office.

And then there are child care costs. If you have a family member who lives nearby and is willing to watch your little one, consider yourself lucky. If not, you’d have to pay a babysitter or nanny to watch your kids while you worked. Obviously rates vary from one region to another, but in my area the going rate for an experienced babysitter is $12 to $15 an hour. For a nine-hour day (don’t forget to add in commuting time) a babysitter could cost you between $500 and $700 a week.

Don’t Forget the Long-Term Costs

In addition to the affect on your family’s monthly balance sheet, the decision to become a stay-at-home parent will also have long-term consequences. You’ll have less money to throw into savings and investments. You’ll miss out on employer 401(k) contributions and your Social Security benefits may be reduced since you’ll have contributed less to your account.

When the time comes when you’re ready to re-enter the work force, you may have a hard time. Your skills will likely be a bit rusty and you may find yourself at a disadvantage. And since you’ve been out of work and obviously not receiving annual salary increases, you’ll probably end up earning less than you would if you had continued working.

Resource: 33 Great Work-From-Home Jobs (That are Legitimate)

It’s Not Just About Money

In the end, after all your calculations are complete and you’ve gone over all the numbers again and again…it’s not all about the money. While some women can’t wait to get back to the work routine after having a baby, others just can’t resist the maternal pull and feel an intense need to stay home. And knowing that your kids are being raised at home by a loving parent can give the income-provider a certain peace of mind as well.

What if you are committed to being a stay-at-home parent, but you’ve run the numbers and you don’t think you can afford to do it? It’s time to get creative and find a way to make it work!

My wife and I knew that we couldn’t afford to pay all of our bills on my salary alone, so we looked for other ways to supplement our income. My wife did some babysitting to earn extra money and also tried direct sales through Party Lite Candles. When that didn’t work out, she got her real estate agent’s license. Of course just as she got her license the real estate bubble burst, but she did have one successful deal.

Meanwhile, I got a part-time job at Babies’R’Us for a while to make extra money (and take advantage of the company discount). I also started building websites and blogs on the side.

Do It, Too: How to Start Your Own Online Business or Blog

Flash forward a few years and we’re a lot more stable than we were back then, though there were certainly some sacrifices along the way. It can be frustrating at times to watch your friends traveling and doing things that you can’t afford, but in the end I do feel we made the right decision for our family.

Have you and your spouse thought about keeping one parent at home, or even taken the plunge? How do you feel that decision impacted your family and finances?

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We all have those times when it feels like there aren’t enough hours in the day. Between juggling work responsibilities, being there for the family, and maintaining relationships with friends, life stretches us thin. Spending time on personal and professional development can feel like a luxury that we simply cannot afford.

But in reality, most of us know that some luxuries can be worth the cost. Time spent in support of our personal and professional growth is not wasted, but rather an investment. Doing something you love is good for your emotional well-being. Plus, having a breadth of skills and interests can open professional doors, too.

The good news is that you can drive your personal and professional development, no matter how crunched for time you may be. Here are a few ideas to get you started:

Whatever you’re doing, commit to it.

You’re the person that cares the most about your own development and growth. So, if you really want it to happen, you must be committed. No one else is going to do it for you.

It’s easy to spend your time worrying about failing to develop, instead of using that time to invest in getting started. Take a small step today and see how you feel.

Hack it:

  • Make a small goal to start off and build momentum, or it’ll quickly become overwhelming.
  • Use a habit-tracking app like coach.me to help you manage your daily goals. By checking in daily and using reminders, it’s easy to stay on course.
  • Use a public commitment app where you create a commitment contract — and put your own cash on the line if you quit. Try Stikk, the app which lets you create a commitment journal and share your progress with friends.

Prioritize and plan

Some development activities are just for fun. Others will be more professionally focused, and might even be a prerequisite for your job. To stay motivated, you need to understand what you’re getting from each experience.

If professional development is your goal, talk to your boss and others in your field for ideas of the activities and qualifications that really count in your industry. Prioritize these for greatest effect.

Hack it:

  • Balance personal and professional projects to keep it interesting.
  • Some activities, such as volunteering in a related field to your current work, can offer both professional and personal development
  • Keep records as you go of the development activities you have undertaken. These are a great personal diary, but also help you to keep your resume updated over time.

Use tech

These days, professional and personal development is often accessed at the touch of a button. Information is everywhere, and easier than ever to tap into.

Even if you only have a few minutes, you can read an article or a book online to access the latest ideas in your field. If you’re thinking of taking up a new hobby for fun, you will find a community of like minded people online. You can also discover ideas and support to get you started.

Hack it:

  • Do you see things you would like to read but never seem to have time? Create a reading list for later, using an app like Pocket or Safari’s Bookmarking tool. Then hit it up when you’re on public transport or have five minutes to kill waiting in line.
  • Look at book summary sites to get a feel for which books might be interesting to you. Or sign up to Blinkist for canned versions of non fiction books you can get through in 2-15 minutes. Their curated lists (like ‘Essential reading for job seekers’) are especially good.
  • Podcasts and audiobooks are a perfect way to access information if you don’t have time to read, but spend time driving or walking places. Services like Audible make downloading and accessing easy, and often offer free books.
  • By following the right people (leaders in your industry, for example) on Twitter and other social media, you can get leads on what is new in your field.
  • Try Google alerts to get articles on topics relevant to you, direct to your inbox.

Hook up with others

There’s a reason that weight loss groups are popular. The psychology of working in a team towards a shared goal means that everyone progresses faster — and often, has more fun with it.

If you’re lucky enough to to have a mentor or coach, or a ‘ready made’ group to work with, then use them well. But even if you don’t, there are other ways to find groups of active people looking to develop.

Hack it:

  • Make a public commitment to develop a certain skill or achieve a certain thing. Tell your friends you’re working on your development, and ask for their support. Maybe they’ll join you in your journey.
  • Look up like-minded people. They’re out there! Find a group in your city using Meetup, or go online to hook up with others using social media, special interest forums, and blogging groups.
  • The coach.me community has active groups working on a wide range of goals. You can hire a coach for a small fee, or simply join the discussion forums. Here, you’ll get ideas and advice from others doing the same as you.

It doesn’t matter what you learn

It sounds counterintuitive, but what you learn is not half as important as the simple fact that you are pushing yourself to learn something new. Anything you undertake — even if not connected to your job — stretches you outside your comfort zone. You’ll develop crucial coping skills for work and home.

Hack it:

  • Got a friend who goes to life-drawing classes? Attends cooking school? Or maybe you know someone who is learning computer programming? Join them! Most adult learning environments are happy to let their students bring a friend along to try the class out, so you have nothing to lose.
  • Get online with a site like Khan Academy. You’ll get free access to learning materials on topics from economics to programming, chemistry to history.
  • Learning a language is a great way to improve your employability, and is something that can be done in bite size chunks. You progress when you have the time, and continue practicing what you’ve learned in the interim. Try a site like lingvist or babbel for example, to carry your classes in your pocket wherever you go.

Look after yourself

A final note from me: look after yourself as you seek out new personal and professional development opportunities. It is an adventure which can get pretty addictive.

Don’t try to do too much or you’ll end up stretched thin and unable to do anything well. Pace yourself, do what you enjoy, and find what brings the greatest personal and professional rewards. By starting small and finding ways to expand your horizons — without having to drastically alter your lifestyle — you’re investing your time wisely in your own future.

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33 Great Work-From-Home Jobs (That Are Legitimate)

by Abby Hayes

A reader recently wrote in asking about part-time, work-from-home jobs. The good news is that these jobs are easier than ever to find. The bad news is that they may also be more competitive than ever! Telecommuting is becoming easier, as technology advances and businesses see the advantages of hiring a remote workforce. In fact, […]

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Life Is and Isn’t About the Money

by Luke Landes

Accumulating money is not a real goal for anyone’s life. Growing wealth is not the point. People don’t work hard because they want to see their bank balance grow; those of us who track our finances and chart our net worth over time aren’t trying to compete in some financial competition. I imagine there are […]

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When It Makes Sense to Work For Free

by Luke Landes

How much is your time worth? This is a terrible question, and it usually begets a terrible answer. It’s a question that motivational speakers use to encourage people to make sure they’re optimizing their ability to earn an income. There’s nothing wrong with that per se, but it leads to some poor conclusions. For instance, […]

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New Jersey Business Filing Services: Scam or Not?

by Luke Landes

Update: I can’t believe this. I received a second notice from these hustlers — asking for even more money! Read the details at the bottom. Here’s an idea for all you people who like to “hustle” to come up with ways to earn extra income. This has happened to me many times, and it comes […]

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Hard Work and Practice Can’t Guarantee Success

by Luke Landes

I’ve written extensively about taking control of one’s own finances. My life changed for me when I realized I had more control over my personal situation than I previously believed. Every human has the power to make every decision based on a future benefit. One can choose to use a pay raise to pay off […]

5 comments Read the full article →

Tipping Housekeepers: Whose Responsibility Is It to Pay Hotel Staff?

by Luke Landes

The prevalence of tipping is simply a fact of society. On several occasions, a friend of mine bemoaned the perceived necessity of tipping a specified amount to restaurant servers while dining out. He would ask the rest of our friends eating together at a restaurant, “When did the expected base tip go from 15 percent […]

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