Do you need to make extra money?
This question is different from whether you want to make extra money. When you need to make extra money, because you are deeply in debt, your motivation is stronger than those who just want to make extra money.
Let us talk more about the matter, since this is about the motivation for making extra money.
Many people like to have extra money, but they are not willing to put in hard work. The primary reason is that they are not hard up for cash.
If they face the risk of hunger, they will not mind the extra hours, and they will not lack the motivation for making extra money.
It all boils down to the difference between needs and wants.
Before you start to make extra money, there are a few questions you can think about.
1. How do you want to make extra money?
2. What are you good at? What are your resources?
3. How much time can you devote to it?
4. Who can guide you in a new project or a new business?
Let us take a deeper look into the questions.
The first question is about how you are going to make extra money.
For many people, the answer is simple enough. They can work overtime in their day job. Instead of working just 8 hours a day, they can work 10 to 12 hours per day. The overtime pay will make up at least a third of their income.
For some people, they get a second job in the evening. The second job can be freelance service, such as babysitting, tuition service or tailoring.
Most people prefer to work in a restaurant or shopping center. They like the certainty of fixed working hours and certainty of getting paid.
However, many others prefer to work online. They like to work from home, even though they do not have the certainty of payment.
The second question is about your talents and abilities.
It is best that you do something that you are very good at, and you will be sure of getting paid for the effort.
No point learning to write articles online if you do not even like to read books.
If you love shopping, you can write product reviews, and earn from affiliate marketing. This is utilizing your product knowledge and writing skill.
The third question is about the time you can devote for making extra money.
Some people are too busy to make extra money. They have to work on a full time job, take care of aged and sick parents, and young kids.
They do not even get enough sleep. In this case, the wise choice is to cut down on luxuries, and watch every penny. It may be wise to seek government assistance in term of subsidies and cash grants.
The last question is about finding qualified help. This is very important if you want to make money online or start a new business.
Since you are new to this field, you need qualified help. You will not get qualified help among your friends if none of them ever work online before.
You have to get help through online resources. Some of the best places include forums, and articles freely available. It is true that you have to spend time to read, and research. There is more information than you ever needed.
As for starting a new business, you can seek help from the small business owners in your place. You can also seek help by networking with other experts in the same line of business.
You may consider having a joint venture if your business idea requires a considerable capital to start off.
It sure is nice to make extra money. The money is nice to have, but the effort required is enormous.
When you need to make extra money, you will succeed. You may try one way or another, and you may fail in more ventures than you care to recall, but you will succeed in the end.
Scheng1 is a passionate blogger from Singapore. Rich in every sense reveals my deepdesire in enjoying life, and be rich in every possible ways. Personal Finance is aboutmoney, from making money to investing money. Retirement in Asia contains resources about overseas retirement planning.