A Second Job?
Get a second job? Euww! Are you kidding me?
What’s the difference between the rich and the poor? Don’t know? Perhaps you should read some personal finance books. I have read quite a few and they expound the same advice—make money work for you.
That’s right, make money work for you instead of the other way around. I have known about this for quite some time and it’s the way I bought my first house. But I haven’t always, or have had the resources, to follow this great advice.
Since December of 2006, I have had the means to pull ahead using this tool and way of life that the rich use so successfully. It’s called investing, but unlike many rich people, the poor have a lot more to lose percentage wise, which means going bankrupt.
And before any of you out there chime in with a “but a lot of us poor do this already.” No you don’t, I am not talking about investment funds or your company’s 401K. Many of the vehicles I have been using lately are a lot riskier than that and bring in money on a monthly basis.
I have managed to raise my monthly budget to $1,000 a month (in some months a little more) to pay down my credit cards with. But this doesn’t come without risks.
This post was actually prompted because of the many personal finance blogs I read. When it comes to second incomes they always mention getting a second job. To tell you the truth, a second job is not always the best, or optimum, way to raise your income. There are many other ways.
As soon as I feel more comfortable about what I do, I will write in more detail about it.
I am interested in what you have been doing in this area. I feel the same way about a second job. I have 2 kids and the thought of spending 20 hours more away from them in the evenings and weekends would be a very hard thing for me to do.
Sure, Chad, I’ll keep you in mind when I decide to post about what I touched upon in this post.