Focusing Your Income

I regularly read a couple of WAH forums to keep up with the latest information. Something that I notice time and time again is people falling short and needing money. What I see is that the money needs are for basics like groceries, stuff for kids, utility bills, and so on. These situations can be avoided with a little planning.

We all have more than one "egg" for income as some will dry up when others are in full flood. And some are steadier than others, guaranteeing regular income. I wonder how many people focus on the eggs that pay quickly, but are unreliable work wise, instead of focusing in the eggs that supply steady work but pay less frequently. The eggs that pay frequently take care of the "now" needs, but can you use them to get ahead?

I'll give something for you dear readers to chew on. Try to find a balance. If you can't save money for the long haul, work on having an emergency fund of a couple of hundred dollars for the short term. This can cover groceries, keep a utility going, and cover an unexpected bill. Doing this may entail some pain for a month until you can get the balance just right.

Stop focusing so much on places that pay quickly like Merchant Circle and ToneADay. They consume a lot more of your time for little pay. They hook people into working a lot because it feels like you're not using any brain power for a reward. I'm sure there are those who can do the job quickly and make it worth their while. Maybe not so much for the rest of us. Work a little harder at the more reliable but less frequent pay job. The money is there, you just have to be patient in order to get it.

I'm not suggesting that these gigs not be utilized at all. What I'm saying is get in and out quick. Figure out a goal for the day, or set a time limit. But don't spend 4 hours to make $30 when you're approved for a higher paying gig elsewhere. That's devaluing your time. Spend a little less time at them so you can devote a larger chunk to your higher paying jobs.

I realize that there are those who need the money yesterday. And in all honesty, you want to change things so that you're not constantly trying to get money yesterday. Instead the money will already be there because you planned ahead. It will take some time, probably a month to get there because of the way the higher paying jobs pay, but it's doable.

Congratulate yourself once you've managed to create a savings cushion. It shows that you've taken control of your finances instead of letting them control you!