To have extra income means taking on a job other than the one giving you a regular income, like another job to support your day job. The income generated from this new job, is usually used to pay off debts, or to build up capital, or to satiate the luxuries that you desire.

Everyone would love to have extra money but come to a standstill because they don’t want to take on a second job. Thus, extra income becomes a windfall that nobody addresses.

Comparing the income levels of different countries, it is a fact that the average annual income of a person is less than $15,000. This income places most people below the poverty line. Thus, the need to earn extra income becomes more evident.

But there are other countries that have an average income of more than $15,000, and thus, their contentment is more marked. Or it should, but that’s not the scenario that is happening. Take into account that an average American ranks richer in terms of income, compared to an average Indian or Austrian, but are less happy or content. Read the rest of this entry »

There are many ways for kids to make money but have you ever wondered the advantages of teaching your kids how to do this? Beyond just getting paid kids are learning some vital skills that could never be learned in a classroom. Let take a look at some of these.

1. Money Management – When your kids are making money they will have to learn what to do with that money. Do they spend it? Do they save it? Do they give to help someone in need? These are decisions you make every day as parents and your kids can now begin thinking about these types of things too.

2. The Value of Money – It is amazing how people will spend differently when they are spending their own money. When someone else is paying, we spend freely. When we are paying, we tend to spend wisely. When kids have their own money to spend, money they have earned, they realize there is no bottomless pit of money. They also learn that buying this item may mean they have to sacrifice something else. What a great lesson to learn especially as a child! Read the rest of this entry »

Problems with money can quite simply destroy lives. Obviously, we all need money in order to live our lives but when finances are not handled well, problems with money can grow out of control. If you are going to achieve life balance, you MUST get control of your finances.

People mis-quote the Bible and state “Money is the root of all evil.” That is an incorrect statement. The Bible teaches us that “…the love of money of a root of all kinds of evil.” (1 Tim 6:10) It is this love of money which generally gets people into to trouble with their finances. By focusing on all of the things money can buy (happiness not being one of them) people spend more than they make, borrow more than they can pay and simply focus on how they can get more money.

If you want to achieve true life balance, you have to get over your problems with money. Check out these first steps and getting past your problems with money. Read the rest of this entry »