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Patty Carson 10-10-2005 08:37 AM

Increasing Income
 
Does anyone have any tips how to increase existing income? - I don't need tips on being frugal. I am as frugal as I can be. Erie PA is a dying city when it comes to jobs. My husband works in a Plastic shop, as a third shift lead person. His company has given all employees a pay freeze since 9-11. He does not have a college degree. I have a bachelors degree in Computer Science/Business. I've worked for a computer business for 19 year now. My last raise (only .55/hour) was 1.5 yrs ago, and it was the first since April of 2000. We do not have the time or money to attend classes. We live pay-check-to-paycheck. My expertise is computer pogramming and technology is limited because my job duties included mainly of a programming language that is now out-dated. What I do mainly now is support our customers on the software our company develops and create reports. It is hard to find another company that will pay me more.
Has anyone come up with a way to earn extra money? I've looked in to those work at home options, but they appear to be scams. I don't want to make calls to get people to "join". Any ideas on how to find a new job that pays well ($15+/hour)?

Jeannie 10-14-2005 07:26 PM

Have you looked in other areas and considered relocating?

If your skills are outdated, the only thing you can do is update them by taking some classes or getting certifications... extra jobs at $15 an hour are not common.

ditzy46 10-14-2005 08:10 PM

hi Patty and welcome to FC. I hope you enjoy being here as much as we do. You can make a lot of new friends and learn quite a lot here and hope you stay and give us all a chance. Im sorry I can't help you find some kind of employment.,at least not at 15 dollars anyway. Have you tried your local library or your college to see if they know of any jobs. Good luck and I hope you find something.
Debbie

LJsmom 10-14-2005 08:52 PM

What about a temp agency? Don't some of them offer training too?

shirley12 10-15-2005 06:18 AM

In Store Sampling
 
There are a lot of great companies out there that you can work for that you can make extra money doing sampling in stores. Pay depends on your area. But you get to decide the days you want to work, you are an independant contractor (not an employee). You also get bonuses, such as extra items that are yours to keep after the demo is complete (whatever items are left...new products, are yours to take home). Have received air freshners, carpet sweepers, cleaners, dish liquid...you name it.
Also can do mystery shopping. Another great way to make extra income. Houses and apartment shops make the most money. Just do an internet search on mystery shops and in store sampling and you should be able to come up with some comapny names. Any help needed email me. [Personal information edited by Assistant Administrator. Please do not post any information like this. ]:sausa:

VicRae 10-17-2005 12:58 PM

Hi Patty,

Just a suggestion, But have you tried the local hospital or doctors offices. Sometimes they need people to enter data to their computer systems. And then maybe you could try find people who need someone to process their bills to their customers.

Hope you find some options here. Good Luck

Vicky

SkiGirl 03-28-2006 10:09 AM

Here's some tips from "10 Ways to Maximize Your Salary" from www.bankrate.com:

http://www.bankrate.com/brm/news/advice/20040514a1.asp



10 ways to maximize your salary
By Jenny C. McCune Bankrate.com

Are you tired of waiting for your boss to come through with your much-deserved raise? You have two choices: Change jobs or make the most of the money you're making.
If you're convinced the salary hike is in the works, there are ways to cope until the extra cash shows up. These 10 tips can help you maximize your current salary.
1. Set up direct deposit of your paycheck
You usually can save on banking fees with automatic payroll deposit. Plus, if you don't have an actual check in hand, you might be less tempted to spend your pay so quickly.
Don't stop with the salary direct deposit. When you set that up, also arrange to have a part of your check go automatically into a savings account or other investment option to build an emergency fund. "Direct deposit into an investment vehicle will help you save," says Peter Lengsfeld, a senior financial consultant and certified financial planner with Presidential Brokerage Inc., Greenwood Village, Colo.
2. Manage your payroll withholding
To ensure that you're sending the correct amount of money directly into your bank account, double-check your payroll withholding. Have too much taken out, and you're giving the federal government a tax-free loan. Withhold too little, and you'll end up with a whopper of a tax bill at the end of the year.
If your circumstances change during the year, for example your spouse gets a raise or your oldest child moves out, change your withholding accordingly.
And don't just drop off the change paperwork and forget about it; make sure the changes show up on your next paycheck. It pays to do this, says Christopher Krell, a certified financial planner with Cassaday & Company in McLean, Va., because company accountants have been known to make mistakes.
3. Contribute to your 401(k)
Sign up for your company-sponsored retirement plan and sock away as much as you can. Many employers match at least a portion of what their workers put into retirement accounts, so try to contribute enough to get the maximum match from your company. Not only will you build up your retirement fund, but because you're funding it with pretax dollars, the amount of your salary that is taxed by Uncle Sam is reduced.
"You're literally walking past money on the ground and not picking it up if you don't participate," says Krell.
4. Regularly reevaluate your plan contribution
Don't just enroll in a retirement plan and forget it. Most 401(k) plans allow employees to allocate their investments. Take time to make sure your investment is appropriate. For example, if you're putting 50 percent of your contributions into a high-tech stock fund, you're taking on extraordinary risk since that sector frequently takes big nose-dives. Redistribute most of your investments into less volatile areas of the market, and allocate only a small portion to "hot" sectors. Make sure you get quarterly statements from your plan administrator, says Lengsfeld, and look at them to help you maximize your investments.
5. When changing jobs, roll over your retirement money
If you decide to take another job, don't leave your old retirement fund behind. While in some cases a former employer will continue to manage the plan you started there, it generally pays to take your retirement account with you when you go. Put it into your new company's 401(k) plan or roll it into an individual retirement account. Bundling money into one retirement fund can help increase returns.
Just make sure any transfer is done company-to-company (or company-to-IRA trustee). That way you avoid having early distribution taxes taken out of the account.
6. Diagnose the best health coverage
Make time to go over your coverage to guarantee that you get the medical benefits you want for the least amount of money. If you're married, don't forget about your spouse's coverage. By comparing each of your company plans, you can decide whether it's more cost-effective for you each to carry separate health care or to combine coverage under one employer plan.
"People often don't take the time to go to their company's Web site or read the company's benefit materials item by item to understand their benefit options," says Karin Maloney Stifler, a certified financial planner with True Wealth Advisors LLC in Hudson, Ohio. "This can be a good way to maximize benefits and salary."
7. Dine at your company's cafeteria plan of benefits
In addition to the more-basic employee benefits, many companies offer programs so that workers can establish accounts with pretax dollars to cover uninsured health care expenses, dependent care costs and even the price of commuting. These can save you big since you're paying with money before the Internal Revenue Service gets its cut. If your company doesn't offer such benefits, lobby for them.
"This is a no-brainer," says Mitchell Freedman, CPA and personal financial specialist with MFAC Financial Advisors Inc. in Sherman Oaks, Calif. "It's not hard or costly for companies to set up such programs, so even if your employer is small, urge your company to do this."
8. Examine all your potential company benefits
Some valuable benefits also might be hidden deep within your employee manual.
Does your company offer life insurance? What about options to purchase disability or other forms or insurance at lower-cost group rates? Maybe the company offers tuition reimbursement, which could help you get the training necessary to demand a bigger pay raise next time around.
Some public companies sell their stock to employees at a discounted price. The practice builds in a profit for the employee shareholder and provides the worker with another investment vehicle. "You can buy common stock of your own company very often at a discount and with no commission," Stifler says. "It's better than buying it off the street."
9. Refuse allowances
Companies often provide car allowances to employees who frequently travel. "I recommend that they ask to be given reimbursement for their actual auto expenses instead," Freedman says. "The reason is that the car allowance is added to their income and is, therefore, subject to tax, whereas reimbursement is not."
10. Make sure your savings keep pace
Your boss finally signed off on your raise! Now don't waste a penny of it.
Financial planner Stifler recommends that when your salary increases, bump up your savings, too. If you get a 3 percent raise, she says, increase your 401(k) contributions by the same percentage.
If you make this savings move as soon as your raise is effective, the transition should be relatively painless. Remember tip No. 1? It's always easier to sock away money before you get used to having the extra cash to spend. And the sooner you add more to your retirement plan, the bigger the eventual payout will be

trianglessk 04-06-2006 07:38 AM

Paying the Bills
 
Hello,
Well, this isn't exactly the answer to your question, but...
I am a financial analysis, and the only thing I can say is hang in there until the opportunity arises. Keep searching for those opportunities.
However, sometimes it is hard to do that when you have no income... so, make your money work for you (better than you already do by being frugal - kudos!) and use a very simple plan sometimes called the snowball debt plan. You start with one debt, drop all of your other debts payments down to the bare minimum, and sock as much money as you can to that very first debt. It may take some time, but once it's paid off, you do not free u that money! Once the first debt is paid off, you roll what you were paying onto the next debt. Before you know it, your socking away tons of extra principal payments to your mortgage. Let's say you can put $100 onto your first debt. When that debt's paid, roll that $100 you were paying onto the $25 min. payment you are already paying on the second debt. When that is paid off, proceed to the third, right down to your mortgage.

Anyway, just some financial advice to help you hang in there until more money rolls along

Kristal
Michigan

BTW, my mom is in a similar circumstance. She is 43, and she sat down and thought about her hobbies. She enjoys decorating cakes, and she simply began a cake business. She had to make a few cakes for free (for birthday parties and stuff for kids for the neighborhood), but eventually her "business" has picked up. Now she is doing my best friend's wedding cake, and is getting paid $300 to do it. Just an FYI to get you thinking.. Use your skills right in your community. Obviously, it can work!

Take care.

RobertaD 11-26-2010 05:17 PM

Cashing in on hobbies is a good idea but you can also work part-time weekends or evenings in a grocery or department store most will pay minimum wage but you get a discount at that store plus advance notice of sales.

We are working on downsizing our stuff selling what we can for some extra money and making a donation with what doesn't sell for a tax credit.

Roberta

MissBonnie 02-11-2011 08:28 AM

our degree sounds like a good one for today's economy. Computer Science is a good field. I have considered going back to school for that very field. One possibility would be something like Arbonne or Mary Kay. If you're just looking to supplement yourself a little, that could help.


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