With the economy struggling many people are looking for ways to make some extra money.   I’ve written in the past about how to make money at Halloween, most of them require advance planning so it’s a little late for those this year.

So if it’s too late why am I bringing it up?  The morning of Halloween, stores will start marking down their Halloween stuff big time, the day after they’ll drop the prices even more.  I actually even saw some discounts already when I was out this weekend.

This is a perfect chance for you to buy on the cheap, you know how much people were buying it for in the weeks leading up to Halloween so you can get a feel for how much you stand to profit.  Of course the Halloween costumes and decorations you buy will just sit in the basement until next Fall, not earning you any money, but when the time comes you can make out nicely by selling them on eBay or even Craigslist.

Haunted Houses & Pumpkin Patches

Of course there are other ways to make some extra money during Halloween. I can’t  believe it but some people pay $15–30 a ticket to visit a haunted house.  Those aren’t just New York prices, even in the Midwest haunted houses aren’t cheap.

You could setup a haunted house and charge $5–10 bucks to get in.  Sure it won’t be as cool as some of the professionally done ones but it’s cheaper and you could target the suburbs for people who don’t want to drive all the way into the city.

If haunted houses aren’t your style you could go with a pumpkin patch.  You don’t necessarily need a lot of land, you could even have a mobile pumpkin patch.  Search around to see if any of the typical patches have moved locations or aren’t running this year.  Fill up your trunk with pumpkins and park out front of where the pumkpin patch used to be.  People that show up to find it has moved will be in need of a pumpkin and you’ll be there to sell them one.

Hard Work

Of course, all of these things will take work, planning, and spending some money up front.  But who ever said making money was easy?  If it was easy, everyone would be doing it.  Maybe these things aren’t right for you but the point is to show some examples of ways that you can make money by filling a need that’s not being met or a getting a great deal on something and reselling it to a different market or at a different time.

Working from home isn’t always all it’s cracked up to be – especially when there are children in the mix! Scraping spaghetti-o’s, off the ceiling when you’re up against a deadline might make you laugh, but it really does happen when you work at home with your kids. If you want the best of both worlds then there are some definite things you can do to make life easier, and make your time at home with your kids more enjoyable.

Stick to a Schedule:

It’s easy to slip into a non-structured life when you are at home all the time. This won’t be good for you, or your little ones. Use timers to keep everyone sane. Set the time for an hour, and then tell your child (if they are old enough) that when that timer goes off you will have lunch, or some on-on-one play time, or whatever. Make sure you and your little ones get to bed at the same time every night, and get up at the same time every morning. The more you can treat your at-home job like a normal 9 to 5 job, the easier it will be.

Face Your Finances:

Most people who stay at home take a pay cut to do so. Even if you don’t take a pay cut, there are still some complications that will come up while you work from home. If you are freelancing, or running a home based business, then your income could be unpredictable. Clients will sometimes pay late, or you may not earn the same amount of money from one month to the next. This can make budgeting very difficult.

If you are running your own business from home you will have to worry about your family’s finances, and your businesses’ finances.

There are a few things you can do to help overcome the unpredictability:

1. Have good budgeting software – Whether you use Quicken, QuickBooks, YNAB, or any other software, set aside a small amount of time each day to keep your records straight. The last thing you want to do is forget to invoice someone, or lose a customer’s credit card number.
2. Have a set place to put your paperwork – Take it from someone who has found important paperwork underneath her laundry detergent. It’s best to have a filing cabinet, an inbox, or a strategic place that is just for your important business papers. It should be an out of the way spot that is unlikely to attract the attention of sticky hands or prying in-laws.
3. Keep an Accurate Calendar – It’s ok to put business and family activities on the same calendar, since you are now incorporating business and family together every day. You can use a different color marker, or stickers, or anything you want to designate activities, but do keep the calendar.

   It’s easy to let payments, deadlines and details pass you buy if you aren’t careful. Keeping an accurate calendar is just like keeping your invoices and payments straight. Boring, but vital to the survival of your home based business.

Plan Your Vacations:

When you work a regular 9-5 job, you get vacation time, and sick leave. When you work from home you do not. The very best advice that I can give you is do not let your work take up all of your time. If you find yourself working late into the night, working all day on the weekends, or otherwise cutting into your family time, then it’s time to see what you can change.

When I first started working from home, it was a little overwhelming. I was used to quitting at the end of the day, coming home, and doing our usual routine. All of a sudden, that routine was gone. I could work whenever I wanted to, yes, but I actually found myself working more hours per day. I would let little interruptions through the day distract me (“Mama, I’m hungry”, “Mama, I’m bored!”, “Honey could you log online and check the bank account?”) and then I found myself working late into the night to make up the time. That is why I say, have that schedule first, keep an iron fist on your money, and have an accurate calendar – or it will all fall down around your ears.

Also, if the kids become too much to handle during the day, consider hiring an in-house baby sitter to come for a few hours a week. It will cost more, but you may find that you get more of your work done faster with a little help.

Regrettably, there is no real “recipe for success” here. You are going to have to find the balance that works best for you and your family. Staying on schedule, and being organized really is the key. If you can do that, everything will fall into place, and you will be able to enjoy the extra time at home with your kids – like it was meant to be in the first place!

Working from home. For many people it’s just a pipe dream, a fantasy that they don’t know how to make happen. It doesn’t have to be that way though. There really are a ton of ways to legitimately work from home.

Let’s talk about a few of those options, and some ways that you can change your job to fit your life.

Finding A Job Or Business That You Can Do At Home:

When you first begin your job search, it can be confusing, and a little intimidating. Don’t worry about that! You will quickly find ways of telling which work from home jobs are legitimate, and which ones are not.

Fair Warning: If you have to pay anyone a “set up fee” a “start up fee” or any other type of fee, it’s a scam. If it’s a legitimate job, they pay you to work, not the other way around.



Here are a few places that you can start your search for your ideal at home job:

1) Craigslist – When you check Craigslist, be sure to check areas that are local to you, as well as ones that are not. After all, there are employers all over the United States that advertise there, and if it’s an at-home job, you can live in one place and work for someone else no matter where they are.

2) Your Local Paper – Most businesses outsource things regularly. Everything from web design to lawn care. Keep an eye on your local ads each week – you’ll be surprised at what turns up.

3) Network – Your family and friends will probably be your very best resource when you first start looking for jobs that you can work from home. Put the word out that you are looking, and ask everyone you know to keep an eye out for you.

4) FreelanceWritingGigs.com – This is the web’s #1 resource for writing, and editing jobs. New jobs are listed every day, and the owners of the site are very thorough when they investigate job postings. The vast majority of jobs on this site are legitimate. There is an active community there too, so if a scam does slip through you can be sure that you will get plenty of warning from the other readers of the site.

5) Don’t forget to ask your current employer about working from home- There may be parts of your job that you would be able to do at home, and some companies do allow this. You will never know unless you ask. Working for your current employer might still require some office time, but depending on your job, it’s very possible that you can talk them into giving you at least part of the week to work from home.

6) Create Your Own Job – If you have a specialized skill like writing, editing, drawing or web design, you can put together a brief portfolio and approach clients on your own. This is an excellent way to grow your home based business on the side. Once you get enough steady income, you can give notice at your regular 9 to 5.

So, you might be saying, I can’t write, I can’t draw, I don’t know html….I don’t know medical billing codes…Is there any way I can still work from home?

Well, yes. It all comes down to knowing yourself. What are you good at? Do you love children? You can start an in-home daycare. Have you always wanted to home school your children? Why not offer to teach your friends kid’s too? There is a high demand for data entry, and customer service / call center representatives who work from home too.

The truth is, if you really want to work from home, then all you have to do is work hard to find a way to do it. Set aside a time each day to sit down, and go over your options until you find one you like.

Will Working From Home Fit Your Life?

After you have some idea of what you would like to do, your next focus needs to be, how can you make it happen? There is a huge misconception that working from home will give you more free time. After all, you don’t have that morning and evening commute anymore, and you can take off anytime you need to right?

Well, here’s the hard truth about working from home (and running a small business, if you take that step.) It will not free up time. In fact, time management becomes an immediate issue. You also should probably know going into it that none of your friends or family members will actually understand that you really do “work” while you are home. So while you may be able to take off and go to lunch once in a while, or re-arrange your schedule to fit your needs, it can be difficult.

Before you begin working from home, take an honest look at your life. How many hours will you be able to work? Will you have to stop and start to pick your kids up from school? Are there any days that you will not be able to work because you have other priorities? If you can nail down your schedule before you start your job, then you will be far ahead of most people who work at home. If you cannot, then you may find yourself back in the office in less than six months.

Setting up your home office:

Whatever you choose to work at while you are home, you need to have a specific space set up in your house. You will need a computer, a fax machine, a cell phone, a P.O. Box, and possibly a few other business necessities. The more you are able to treat an at-home job like a 9 to 5 job, the easier the transition will be, and the more likely you are to succeed.

The Financial Aspects of Transitioning To A Job Or Business Working From Home:

There are some very real financial challenges that you will have to face when you start working from home. Here are just a few:

1) Your at home job may not pay as much as your regular job did – You have two choices here. You can take the pay cut in order to have the freedom of working from home, or you can work both jobs at the same time until you go crazy (or until your at-home job replaces the amount of income you will need.)

I chose the second option, and I did escape with my sanity. I worked as a freelance writer nearly full time for a year, while working my regular full time job, with a newborn. It can be done. I’m not going to tell you that it was always pretty, but I did it, and my family and I are better off for it today.

2) Your clients will pay you late, and sometimes not at all – If you can get setup on payroll with an employer, then you will not have to worry about this. If you are freelancing though, it comes with the territory. The financial challenge here is that you cannot count on the money until it is in your hand, so budgeting can be very difficult.

3) Have a healthy savings account before you take the plunge – There is no guarantee that the money people owe you will come in regularly. Having that savings account to fall back on will make all the difference between success and failure. If you have some good personal budgeting software, and you keep a close eye on your expenses then the transition will be much easier on you and your family.

If you are in debt, and you want to work at home, then the best thing you can do is start your business on the side, work the extra hours, and make the transition as gracefully as possible.

Make sure you set a savings goal. Once you meet that goal, then consider working full time from home. If you choose to jump into a full or part-time job at home with no savings, then you are probably defeating yourself before you even begin.

The funny thing about freelancing at home is that it will highlight every area of your life that you might normally ignore. Money management becomes paramount because your income is unpredictable. Time management is essential because sometimes your days will be unpredictable.

The rewards of working at home are amazing. I have time with my daughter, we save money because I have time to cook, and we no longer eat out. I can rearrange my schedule to fit my life to an extent, and overall, I feel very blessed to lead this life. However, it does take a lot of organization, determination, and plain old hard work – three things that don’t usually factor into the “fantasy” of working from home.

If you really are interested in working from home, then I would definitely encourage you to check out the resources above. Try picking up some work on the side first, and ease yourself into a full time at home job. Based off of my own experience, I believe that doing things that way will give you the best chance for success. Good Luck!

This review of work from home options and how they fit into your life and your finances is part of the Career Finances Guide.

For those of you who decided that buying a house isn’t right for you at this point in your life, your next step is finding an affordable apartment or rental house. In Florida, rent for apartments and houses has sky-rocketd, because the demand has increased so much. In metro areas of cities in Florida such as Orlando, Jacksonville, Tampa, and West Palm Beach, it’s tough to find a 2 bedroom, 2 bathroom apartment for less than $1,000.00. This is a lot of money for a new couple starting their life together. So, is it possible to find an affordable rental? Let’s walk through this together.

First, check websites like your local Craigslist in the “apts / housing” section. My wife and I always check this when we’re looking for rentals. We also check it for for-sale, buy-owner houses. You need to watch out for Craigslist, because there are a ton of scammers on there. Never send any deposit money via Western Union or any other crazy delivery method. Craigslist is great for finding individual landlords looking to rent their properties at a discount price and individuals renting out their home or condo that didn’t do well on the sales market.

Second, check with your network of friends and family to see if they know anyone with a property for rent. Landlords are more willing to negotiate a deal with tenants that they can trust. A direct referral from someone they know is a good way to get an apartment at a discount price.

Third, don’t forget your negotiating skills when renting an apartment. Some people don’t realize that they can negotiate rent price and lease terms. Just because someone posts $1,000 for the rent doesn’t mean you need to accept it. This is harder to do with large, corporate-owned rental properties, because their demand and marketing budget is high enough to dismiss those that are looking for a deal. But, you can definitely negotiate with the everyday landlord. Ask them to reduce the security deposit, reduce the lease term, or trade work for money off the rent. If you’re a good landscaper or a handy around the house, ask them to take $100 to $200 a month off the rent in return for you maintain the home. Just make sure the landlord is still paying for the materials and supplies.

Lastly, find an apartment or rental home off the beaten path. Never sacrifice your safety for a cheaper rental, but there are plenty of nice, underdeveloped areas with cheaper rent. Look five miles away from “the hot spots” in town, and there is where you’ll find the deals. Apartments above the garage of an older couple’s property are also rental gems at a discount price.

Are you ready for the challenge? Don’t settle for paying $1,200.00 a month for a 1 bedroom apartment just because it has a nice pool and an exercise facility. Some cities make it tough to find cheaper rent, but the majority of you live in suburban America, and the deals out there. You just need to do your research, ask friends and family, and scour the internet classifieds.

These tips for helping newly married couples on find an apartment are part of the Marriage Money Guide.

Being in college is often synonymous with being flat broke – but it doesn’t have to be! Here are 31 anyone-can-do-it plans to help you make extra money in college:

1. Get a job - There are plenty of places on, or near your campus that will hire college students. Because they regularly work with students you can expect them to be willing to adapt to your study schedule and even your time off of school.




2. Have a digital camera? Sell stock photography online - If you’ve always enjoyed taking pictures then why not make a little money off of them? You can sell your images online to places like Dreamstime.com. You’ll make money every time someone downloads your image, and most places will even let you retain part of the copyright.




3. Get Paid to Write Online – Can you write well? If so, there are plenty of places online that are willing to pay you to write for them. Check out this site – they list new jobs every morning, Monday – Friday.




4. Be a tutor - If you excel at English, Math, Science or any subject at all, you can be pretty sure there are other students who do not! Set up your own tutoring service and charge for it. You can also offer tutoring sessions online via chat rooms.




5. Donate Plasma - If you can stand getting your blood drawn then you can do some good and earn some money at the same time. Most places will let you donate once a month so you can pick up an easy $35 to $45 this way.




6. Check to see if you have any unclaimed money - Most states have searchable online databases where you can quickly check to see if you have unclaimed money..




7. Sell Tickets to Your School’s Sporting Events - College basketball and football tickets can be hot items, and students usually get first pick. Buy a couple of extra tickets for big events and sell them to friends and family.




8. Get into a paid internship or a work-study program - If you qualify you can earn money and college credit at the same time.




9. Recycle bottles and cans – If you’ve ever taken a peek into a campus trash can then you’ll know it’s a haven for discarded aluminum cans and plastic soda bottles. You could even get a few friends to go in together on this and split the profits. You’ll be cleaning up your campus, helping the environment, and making money all at the same time.




10. Take Odd Jobs - Put the word out with your friends and family. Let them know you are available to mow their grass, house / pet / baby sit, do light housework, plant flowers, whatever they need. You will be really surprised at how much money you can make doing this. You can set your own hours too, so it will never interfere with your school work.




11. Be a “Fixer-Upper!” - If you can repair computers, leaky faucets, drafty windows or anything else that breaks you can make money doing it for others.




12. Find out what people want and sell it to them - This could be as simple as running to Walmart and picking up cheap colas and chips and re-selling them, or as complex as installing radios and helping other students turn their cars into hybrids to save on gas.




13. Hit up the Sorority and Fraternity Houses on Campus - Ask around and find out if they will let you come in once a week and clean for them. By pitching that every member “would only have to donate X amount” a month you could make quite a bit of money just from swishing and swiping a few toilets. It’s a great way to get social introductions too.




14. Sell Things on Ebay or Craigslist - Make a habit of visiting yard sales, estate sales, auctions, and going through your own garage. Then list your finds online and sell them. You can generate a nice secondary income from this once you learn what you are doing.




15. Take on Seasonal Work: Shovel snow, rake leaves, plant flowers, wrap gifts. You could even put together a list of cheap, “must have” items each season for men and women of different age groups. Then, sell those lists for a dollar or two a piece. Who wouldn’t love to have a quicklist of cheap gift ideas that their Aunt Fanny, little brother, or Mom might want for Christmas?




16. Capitalize on the Holidays - If you know Valentines Day is approaching, get together with your best guy friends and offer to be the person that picks up all the flowers / chocolates and cards that they need. They give you the money, and you deliver it to them – minus a small fee of course!




17. Build a Website or a Blog - If you enjoy being online this one is easy to do. Get signed up with Google Adsense, Amazon.com’s Affiliate Program, and Linkshare, just to name a few. You may never make a ton of money doing this, but you will probably earn enough to buy a few extra cups of coffee each month.




18. Flip Websites - If you are really good at building websites, then consider doing that as a side job. For more information on how to get started flipping websites check out this site, and this site.




19. Be a Personal Trainer - Most campuses have free gyms for students – but not all students know how to use the equipment! Stick up some flyers, and hang around the gym. You can offer your services as a spotter, and instructor, to those up -and- coming gym rats.




20. Check out your school’s Psych program, and volunteer to take part in their studies - If you are willing to let them pick your brain or study your latent Oedipus complex, you could make a fair amount of money each month.




21. Offer to be an assistant to your professor - Some departments will hire students to assist professors in grading papers, making photocopies, doing research etc.




22. Look for on-campus jobs - One of the biggest and best ways to make money in college is to look for an on-campus job. Check out the library, be a security escort, or even a parking attendant. Many of these jobs come with discounted tuition so they are snapped up quickly. If you can’t manage to get a job on campus your freshman year, decide what you want to do and start lobbying for it – find out how to sign up so that you can get a good deal on your tuition the next year.




23. Deliver Newspapers - Yes, it’s early in the morning, but you can make several hundred dollars a month delivering newspapers. It’s also safe to assume that your hours will not conflict with any of your class schedules!




24. Sell Your Video Game Accounts - If you love playing online games and you can level your characters or make gold quickly, then you can make a decent amount of money doing it as a side business. Besides, learning to set the prices of online auction houses is an excellent compliment to an economics class!




25. Become a Model - Campus Art Departments usually need models, and contrary to popular belief, you don’t have to be naked to do it – mostly they want you dressed, and sitting, standing, or posing.




26. Run a Car Wash - Get together with some friends once a month, hold a car wash, and split the profits.




27. Create a Calendar - If you belong to any on-campus organizations, offer to create a yearly calendar for them. You can have them printed cheaply online, and sell them at a profit. Donate a portion of the profits to the organization, and keep the rest.




28. Sell T-Shirts - If you have a witty idea for a T-shirt you can design and sell it on Zazzle.com. Tell everyone you know about them, and you earn a percentage of the sale when they log on and buy one.




29. Teach a Mini-course - Everyone at college is there to learn, and if you have a specific skill like writing, power-leveling video game characters, flipping websites, even water skiing or knitting, then chances are other students would be willing to pay you a small amount to learn that skill. So, set up your own mini-instruction course, meet twice a month and charge a reasonable fee.




30. Take Notes in Class and Sell Them - You’re sitting in class and taking notes anyway, right? Offer to sell your notes to your classmates. Many students who take notes on their own would still be willing to buy yours if you organize them well. After all, you may catch something they missed, and an extra study aid is always valuable before a final. This is one way to make money and good grades at the same time!




31. Work your network - When you need extra money, start by talking to the people you know. Find out if they know anyone who is hiring, or if they have any creative ideas for making money.

Be sure to check out other articles in the series on the best banks for college students, decorating your dorm room on a budget, and the best student credit cards. Make sure to come back tomorrow for ways to have fun in college without spending a lot of money.

This list of ways college students can make extra money is part of the College Student Money Guide.

Writer Auditions – Author Erik Folgate – Offer Your Feedback

It was March of 2002, and my mother was dropping me off at our local community college. It was that point that I realized my life had come to a low point. I had no car, no job, and I was in a ton of debt at the age of 20. I came home from an expensive Christian school where I racked up $12,000 in student loan debt and $4,000 in credit card debt in just a year and a half. I made a big mistake by picking a school that I couldn’t afford. I made a bigger mistake by signing up for a credit card at the age of 18. I had no clue how to manage money, but I stopped the bleeding. I enrolled in an affordable community college, my dad gave me an old family car for free, and I started working two jobs. But, it wasn’t until a year later that I started changing my financial habits.

I was driving around Gainesville, Florida one fall evening and I was flipping through the radio stations. I came across The Dave Ramsey show, a radio show about personal finance. Many of you are familiar with Dave Ramsey and his style of teaching. I listened to the entire three hour show that night, and I realized that I needed to drastically change the way I handle money. I was listening to various callers express their joy about getting out of debt, and I found myself wanting to get out of debt as fast as possible. I stopped the debt bleeding, but I hadn’t stopped the debt cycle. I wasn’t getting into more debt, but I also wasn’t doing anything to prevent myself from getting into more debt.

Here are a few steps that I took to stop the debt cycle.

• I cut up my credit card. It was time to get rid of the vice in my life. I relied too much on my credit card, and it was too tempting to use. I racked up $8,000 in just four years. It was a combination of horrible decisions, emergencies, and numerous small purchases that quickly added up. I put gas, food, eating out, car maintenance, and various other expenses on that card without paying it off at the end of the month. The worst charges were the expenses from a backpacking trip to Europe that I couldn’t afford. You may be responsible with your credit card, but is it really helping you to keep it? Do you think that using a credit card will help you become wealthy? Getting rid of the debt cycle means taking away the things in your life that tempt you to buy something you can’t afford.
• I built up an emergency fund. I built up a huge debt on my credit card, because i had no money saved up for emergencies. When the alternator died in my car, I charged it. When I was evicted from my apartment and lost my security deposit, I took a cash advance from my credit card to pay for another security deposit on an apartment. When i married my wife after college, we always keep at least $1,000 in a separate savings account specifically for unexpected expenses.
• I attended a public university. I left an expensive private college and transferred to the University of Florida, a Florida public school. At the private college, I was taking out $5,000 in loans per semester. At the University of Florida, all of my tuition was paid for the Bright Futures scholarship, and I received a Federal Pell Grant that went in my pocket for living expenses. It was a big financial turnaround in my life, If I would have stayed at Toccoa Falls College, I would have graduated with $40,000 in student loan debt. Instead, I am currently paying off $15,000 in student loan debt.
• The monthly budget became my best friend. I started spending my money on paper before I spent it. I paid all of my monthly expenses and set aside a specific amount for groceries, gas, entertainment, and clothing.
• I educated myself about personal finance. If your parents don’t teach you sound financial principles, no one will. High schools and colleges significantly lack the capacity and the desire to teach young people about personal finance. If you don’t understand compound interest, the stock market, budgeting, and interest rates, you’ll never learn how to make good financial decisions. The fastest growing wealth of free information about personal finance is the blogosphere. There are hundreds of great personal finance blogs out there, including Money Smart Life, dedicated to helping you learn about personal finance and make better decisions.

I’ve paid off $10,000 in debt in the past two years. My wife will start working this August, and we will continue to pay off all of our debt. We plan on being debt free in two years, and we will get the chance to call up the Dave Ramsey Show and yell at the top of our lungs, “We’re debt free!” I stopped the debt cycle in my life, and you can too. But, there must be a point in your life when you tell yourself that you are sick of being in debt. Then, you must take the specific steps necessary to break the debt cycle in your life.

Want to make extra money while working from home?  You could join the thousands of other independent consultants, distributors or representatives that work in the direct sales industry and sell products or services directly to customers. The products are sold mainly via in-home product demonstrations, parties, and one-on-one selling.

According to the Direct Selling Association, annual sales from the direct selling industry currently exceed $100 billion. They list the benefits of a direct selling business as:

• Good way to meet and socialize with people.
• Offers flexible work schedules.
• Good way to earn extra income.
• Good way to own a business.
• Earnings are in proportion to efforts.

Direct Sales is Everywhere
Chances are you’ve either been approached by or have purchased something from one of these independent consultants. A study referenced by the Direct Selling Association estimates that 55 percent of American adults reported having, at some time, purchased goods or services from a direct selling representative.  If you have a friend that sells Mary Kay or  Pampered Chef then you know what I’m talking about.

Good for Corporations
The reason direct sales is so popular has to do not only with the benefits to the people selling it but also the benefits to the companies that make the products or services.  The sales model allows these companies a low risk, low cost method of expanding their sales force throughout the country.

It’s low risk to the company because the sales reps typically aren’t paid anything unless they make sales. The company doesn’t have to risk a bunch of money hiring a sales force, they pay out a commission only after they’ve already made money via a sale.

A direct sales model is low cost not only because companies don’t have pay salaries but also because they don’t have to offer benefits to the independent consultants.

Selling to Your Friends
So direct sales is good for businesses and good for sales reps, what’s the downside?  (I’ve never been a direct sales consultant so forgive me if I state things incorrectly but this is my understanding). People who get started in direct sales are coached to sell the product or service to their most accessible market, their family or friends. 

With products like Mary Kay you start off by having a party at your house where you invite your friends, give them free samples, and ask them to host future parties at their homes and invite other friends.  Eventually through word of mouth and the network approach of selling to a friend of a friend you build up a customer base.

Effects on Relationships?
Although direct sales has proven to be an effective selling approach, I wonder if it could also prove to be damaging to relationships.  I would imagine that not everyone will enjoy being sold to by their friends, some people may even be offended or feel “used” when asked to come to “sales party”.

There’s probably another group of people that will go along with it but inwardly feel uncomfortable.  They’ll buy from you not because they want what you’re selling but because they feel like they should.  Although they won’t say anything, the value of your friendship may decrease in their mind as they see themselves as just a sales opportunity for you.

The Real Story
As I said earlier, I’ve never been a direct sales rep so I don’t know what really goes on between friends when selling is introduced into the relationship.  What are your thoughts and experiences with direct sales?  Do you like buying products from your friends instead of the store? Do you enjoy attending or hosting sales parties?  Have you ever lost a friend or damaged a relationship because of it? 

The value of the US dollar is dropping and hitting many of us smack in the pocketbook.  What can you do about it?

It’s a discouraging situation; you’re working just as hard as you always have but your money isn’t going as far, thanks in part to the falling dollar.  It’s also frustrating that it’s such a huge issue and we feel as though there’s nothing we can do about it, that we’re just along for the ride.  

The good news is that although we can’t change global economic momentum there are several ways to make money from this fall in value of the dollar. 
 
Invest in Multinational Corporations
This method is probably the most obvious and involves the least amount of effort. CNNMoney recently took a look at how exchange rates are influencing the performance of multinational companies.

“Declines against world currencies make U.S. products look cheap overseas, and translate into big returns when sales are converted back into dollars.”

Investing in the stock of multinational companies such as McDonalds, Microsoft, Coca-Cola, Caterpillar, and IBM allows you to relatively easily put some of your money where it could potentially benefit from the drop in the dollar. Do your own research on these companies; they’re just examples of corporations whose organizations and sales extend outside the boundaries of the US.

Invest in Foreign Currency
As the dollar weakens and other currencies are on the rise, this presents an opportunity for those willing to risk some money in foreign currency exchange, otherwise known as forex.  If you use the dollar to purchase a foreign currency, wait for that currency to rise in value, then trade it back in for dollars you’ll come out ahead.  Of course foreign currency exchange is a rather speculative market but it is a huge one. According to Investopedia:

“The forex market is the largest, most liquid market in the world with an average traded value that exceeds $1.9 trillion per day and includes all of the currencies in the world. It is open 24 hours a day, five days a week, and currencies are traded worldwide among the major financial centers of London, New York, Tokyo, Zürich, Frankfurt, Hong Kong, Singapore, Paris and Sydney – spanning most time zones.”

This is probably the riskiest of the options discussed here because of the frequent fluctuations in the currency market and the knowledge you’d need to comfortably invest in forex.

Export Products
How much time do you think it would take to setup to start exporting products overseas? Would you believe you only need the 15 minutes it takes to signup for eBay? By selling online, you can personally leverage the same trend the multinational companies are seeing where products sold in US dollars look cheap to overseas buyers.

Let me give you an example. I spent about $400 dollars at a local Adidas outlet buying clothing that was worth about $1000 retail. I listed the clothes at around 25% below retail in my eBay store and the orders from England started rolling in!

Exchange Rate Benefits
One British pound can buy about two US dollars so customers in Great Britain were able to buy Adidas clothing from me at about half price due to the exchange rate, plus the discount I was offering. Although the shipping wasn’t cheap, the savings more than covered the cost.

Choosing Products Wisely
Of course, you have to be smart about the products you sell, the Adidas gear was perfect because it was light to ship, has appeal in many different countries, and can be quite pricey for consumers to purchase retail. Good candidates are products you can only get in the US or something you can get in the US considerably cheaper than people in the rest of the world.

Selling Nike Shoes in Europe
Don’t be scared off by the unknown of selling internationally. My boss had never sold on eBay until I mentioned the possibility and he did something similar with tennis shoes.

His brother works for a shoe company that offered older model shoes to its employees at large discounts. He filled up the back of his van and sold them all online. He made a lot of the money selling Nike shoes via eBay to customers in Europe, France in particular.

These examples are just to show it’s possible for the average person to do it.  All you need is a little time to learn the ropes and find the right product and anyone can become an exporter of goods.

Sell Internationally
I use eBay in my examples, it’s a great place to reach customers around the world since it’s an international marketplace but there are certainly other sites that offer global reach. One thing you’ll want consider when selling internationally is that you’re very clear about your refund policy, return shipping on items from overseas can be pricey.

Export Your Services
If you’re not into selling products internationally you might consider selling your professional services. In a global information economy, you can provide consulting services in your area of expertise to almost anyone, almost anywhere in the world. Using sites such as eLance, you can bid on a wide variety of projects in areas such as:

• Legal
• Design & Multimedia
• Sales & Marketing
• Finance & Management
• Engineering & Manufacturing

The person or company posting the project looks at the various price bids that come in, the experience of the providers, and choose someone to hire. The weakened US dollar means it is cheaper for clients in countries whose currency is stronger than the dollar, ex: British Pound & Euro, to hire you. 

Of course there are many providers on eLance from countries with currency weaker than the dollar, ex: India & Russia, who can underbid you. However, that doesn’t mean you can’t be the cheapest “preferred” provider. For example, a job description in a recent posting for a designer, stated “Prefer U.S., UK, European design experience”.  Thanks to the exchange rate, the client gets a built in discount if they hire you over a British or European designer.

Summary
Who knows how long the value of the dollar will continue drop and how low it will go?  Although there’s nothing you can do to stop it’s decline you can try these strategies to leverage the opportunities the new exchange rates are creating.

• Invest in Multinational Corporations
• Invest in Foreign Currency
• Export Products
• Export Your Services

Do you know anyone who runs their own business and is always struggling to find new customers or make enough money?  Wouldn’t it have been easier if they would have done more research about the competitiveness and viability of their business before launching it?

Mid Life Crisis
One of my co-workers is having a quarter life crisis and decided he wanted to start his own business in an industry totally unrelated to the one he and I are working in now.  One of the main reasons he’s interested in his own venture is that he’s fed up with our current job.  Although I feel his pain, I just hope he’s not jumping into it unprepared just to get away from his current job.

Research Your Idea
I subscribe to several small business newsletters, all free of course, and one of them offers the advice below to anyone looking at a new market.  I’ll have to share these with my friend; the important thing is to answer them honestly.  This can be tough if you already have an idea in mind that you’re really excited about but it’s most useful if you research and answer the questions realistically rather than putting down the answers you’d like to see.

Market Evaluation
Below are the questions you can use to investigate and confirm the need for your new business.  For anyone not interested in running their own business but looking to switch careers and industries, some of the same questions still apply, they can help you decide whether it’s worth your time and energy to enter a market as an employee.

1. How big is the market – and is it growing?

2. How responsive is the market?

3. How reachable is the market?

4. Can I bring real value to this market?

5. Are there repeat sale opportunities?

6. What kind of infrastructure investment is required both ongoing and just to get started?

7. How long will the market be around?

8.  What is the profit potential after I pay for the product, the marketing, the delivery, the customer service and the overhead to support the sale?

Last week I mentioned how to earn extra money in 2008. Now, you might want to know how to keep track of the extra money you earn.

After two kids and a divorce, I went back to college to get an English degree. I got the diploma, but I also acquired a LOT of debt. Now, I am trying to dig myself out of a financial hole, one teaspoon at a time. Just when I think I am making a dint, something comes up. So, I also want to earn a little extra money, and I want to work from home, so I can be home with the kids.

But, unlike substitute teaching, I will not get a paycheck to keep track of my earnings. I bought a Microsoft Money program, but I guess I am not as smart as I thought, or it needs a makeover. In working with the program, I found that if I enter an invoice amount and then a customer pays, it will automatically dump the amount in my check register. Not good! Probably the majority of people on the Internet use PayPal. So, if I then deposit the money from PayPal, it will record the amount twice!

If I am going to get serious about making money for myself, I need something that will keep track of my earnings and give me something to send to potential clients. So, I went online, being the thrifty person I am, and downloaded free accounting software. UGH!

I tried several, either they were too simple, or they have what I need, but will not put the information where it needs to go. For instance, if a client pays, it should show up in the clients account and on invoices, or the overall total of my earnings, right? Not! I would have to go in and enter one transaction in several places. What a pain!

Finally, last night, or should I say early this morning I found a good program that works for small home-business needs, without messing up my personal checking account, or entering one transaction several times. Microsoft Office Accounting 2008- the Express version is FREE!!! Eureka! has a 6 month free trial.

So, if you are also seriously considering earning extra money at home this year, you will definitely need some way to keep track of your money. Maybe you will only earn a few bucks a month, or may you will be like those entrepreneurs that get to stay home and get rich. Who knows? Either way, you might find this program helpful.