Several years back, I ran a small scale mortgage business. The objective was to help as many people as possible buy a home. The process was mostly cut and dry, they give me financial details, and I set them up with a loan based on what they gave me. About three months into the process, I realized a majority of people who were trying to purchase a home, didn’t have a clue how to manage money or keep up with home ownership. The cost would eventually be foreclosure… And nobody, least of all me wanted that.
Data and Statistics
At that time, data and statistics indicated that just $100 more per month in the bank would have prevented most of the foreclosures, and given homeowners a bit of breathing room in their budgets. Granted, that’s been more than ten years ago, and the cost of living has sky rocketed since then, but the same basic principle holds now. The average home owner can stave off foreclosure by increasing their monthly income by a few percentage points of their overall income.
Do you know what it takes to make a $100 extra each month?
- Uber drivers often make a $100 in an evening of driving during the rush hours on Friday or Saturday night.
- Some stay at home mom’s make $100 in a few hours each week doing crafter items and selling them over Etsy or Ebay.
- Bloggers often make $100 a month referring their readers to products they review on their blog posts.
- A content marketer can make $100 writing a few articles promoting local businesses on blogs that are native to their area.
- A neighbor will pay someone to mow their yard every other week… Why not you? A Saturday morning of mowing and yard work, could be putting money in your pocket!
These are just a few of the many ideas that might increase your monthly income by a hundred or so, almost painlessly.
Current Financial Matters
In today’s market, while $100 extra in the budget each month may not amount to a whole lot, the reality is that even now… An extra hundred or two hundred dollars in the budget would prevent most foreclosures and some bankruptcies. The biggest concern most home owners have is how to pay for the emergencies that come up.
If you’re able to put $100 in the bank each month, after a few months that emergency fund becomes a viable solution for fixing those emergencies that arise as a home owner.
Consider for a moment, if you somehow manage to put a $5,000 emergency fund in the bank, and are living well within your means… Would you not already have a better grip on your finances, when those emergencies come along?
Jobs and Opportunities
With the catch phrase for summer in many American homes being “We can’t afford to do that!” parents start looking for ways to change the dynamic, improve status quo, and put money in the bank. These can be jobs, or better… They can be opportunities.
When we begin to see life as a journey of finding the best opportunities and then jumping on those and making the best of what we have, our lives change for the better.
Opportunities come right along with the best jobs.
As a member of the workforce, you have opportunities every single day to do more, be better, and become more proficient at what you do. Imagine if you do such a great job at your job, that your boss offers you an opportunity for advancement? Or better yet, offers you an opening to stretch yourself a bit and accomplish something greater than the “job” you’re currently doing?
Always seek out opportunities to improve on what you have.
Do more. Serve more. Be more.