Friday, August 21, 2020

4 Ways of Unlocking Money in Your Life

 According to a survey from the online job portal Indeed, run in 2018, less than 20% of Americans believe they earn enough money in their jobs. A whopping 60% of participants admit they would need a raise of at least $6,000. The coronavirus pandemic has likely increased money dissatisfaction. The health crisis has increased unemployment rates dramatically, forcing people to stay at home for their safety. Freelancers, non-essentials workers, and professionals who can’t work remotely have been left with the challenge of unlocking money when there’s no job available. Ranging from the most likely to the least unlikely event, here are ideas to get you started on your money-making journey from home. 

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Understand your finance management

Typically, most people don’t know how much they have. That’s precisely why working with a certified tax advisor can make a huge difference. Avoiding costly mistakes, for instance, can help you save a lot on tax payments. Most Americans don’t realize how much is deductible in their tax returns or fail to take essential tax breaks into account. Mortgage interest deductions can provide some breathing room and make homeownership more affordable. You can also deduct qualified medical expenses that are more than 7.5% of your gross income, as long as they are unreimbursed. The list is long, and you can make sure you pay no more than you owe with the help of a professional. 

Master the art of decluttering for profit

Spending more time at home has made everyone painfully aware of their cluttering habit. We accumulate a lot of things, and most of it takes space that could be otherwise repurposed to better use at home. You may not be able to build a second source of income through decluttering, but selling items you don’t need on eBay or Craigslist can give you some breathing room. Online markets are crowded with unwanted items, so you need to establish a decluttering approach that works for you. The sweet spot is to sell a handful of items simultaneously, so you can give your online “shop” more consistency. 

Start a side hustle

More and more people who have been staying at home during the pandemic have looked into starting a home-based venture. A side hustle is an excellent way of creating an independent business that can make ends meet for your household budget. However, many newcomers to the business world embrace the idea of a side hustle with optimism. It’s important to remember that, while side hustles can be profitable, they are not an overnight solution to income generation. It takes a lot of time and effort to establish a reputable business presence. 

Ask the universe

If you are not familiar with the law of Attraction, it is a direct line to the universe. The Law of Attraction is typically mentioned as a way to manifest the things you want in your life. Truth be told, it is unlikely to get you the money to pay bills out of the blue. However, believing in your luck and facing the situation with an optimistic mindset can help you focus on the best method to get what you need. 

Can you unlock the money you need when you’re facing the financial aftermath of the pandemic? Keeping your mind alert to possibilities can provide multiple strategies to generate new sources of income. When jobs are limited, and many businesses find it hard to plan in the long-term, financial creativity can avoid many problems!

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