Category Archives: Wealth Building

20 Innovative ways to Earn Extra Income from Home

Are you cash strapped?  Have you ever desired to start your own business from home to earn some extra income?  Well look no further.  Making money from home is now easier than ever.

Below are 20 Innovative ways you can earn extra Income from Home:

1. Start a Blog – If you love to write and have a topic that you are passionate about then why not start a blog? It’s free if you do it through Blogger or WordPress.   Once you start getting a steady flow of visitors on a daily basis.  It won’t be long before you will be able to monetize your blog through private advertisers. Other ways to monetize your blog is through Google Ad-sense and affiliate marketing like Ebates.

2. Write/Sell an eBook – Another way to earn extra income from home is to write an eBook.  Do you have a marketable skill or know how to do something that you feel people will pay you to learn?  Then you could easily put this information into an eBook.  Some great topics for an eBook are learning how to coupon, or teaching some simple techniques for investing.  The sky’s the limit. Check out eBook Junkie for more info on writing an Ebook and making money from it.

3. Do Consignment in-store/online – This is one of my favorite ways to earn extra income and it can get pretty lucrative.  Do you have an eye for items of value?  If so, then you can do consignment online or at consignment shop.  You can easily find valuable items at yard and garage sales or at thrift stores that you could easily re-sell.  I once found an Excalibur Dehydrator at Goodwill that was in pristine condition for $5.95.  I was able to resell that item on Ebay for over $100 bucks!  Other websites that are good for re-sell are Craigslist and Amazon.  Be careful of those re-seller fees though.

4. Take Surveys Online – Getting paid to take surveys is nothing new.  This has been around for years.  If you have the time, then you can make a little chump change on the side by taking surveys and you’ll get a lot of free stuff and get entered into sweepstakes.

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Mega Millions Lottery: Show me the money!!!!!

Ok, I broke down and purchased a lottery ticket for the Mega Millions today and to increase my chances of winning, I also joined two other lottery pools at work.

Let me be the first to say that I normally don’t play the lottery for various reasons but I’m making an exception today.  I can’t pass up a $640 million jackpot….that’s a lot of money!

Can somebody say cha ching?  Show me the money baby!

Everybody and their grandmother are playing the mega millions and rightfully so with the economy being the way it is currently.  In California the people were wrapped around the building to get a lottery ticket and in New York they were selling thousands of  tickets a minute.

Honestly…can you imagine what you would do if you won $640 million dollars?  I can’t even phantom having that much money.  I do know one thing….you could change the legacy of your family forever and be a blessing to some of your friends too!

Most people would tell you that I’m a frugal person but if I won mega millions, I wouldn’t have any problem splurging on a few things. 🙂

Below is a list of some of the things I would do if I had the winning numbers:

  • Set up a Trust Fund (I’d take the lump sum payout, after taxes)
  • Pay Tithes to my church and a few other charitable organizations of my choice
  • Pay off all debts
  • Move out of my current house and build a brand new spankin’ custom home with all the bells and whistles.
  • Give money to family and friends
  • Purchase my dream car…..a BMW 7 series
  • Take a luxury vacation around the world for about 12 months…I need a break

I would save the rest and make sure that if I did have children they would have a college fund and other funds set up.  Hiring a CPA or a CFP wouldn’t hurt.  I’d definitely need help managing that amount of money.

The chances of winning are slim to none (1:176,000,000) you’d have a better chance of getting struck by lightning but it still doesn’t hurt to dream every once in a while.

What are some of the things you would do if you won the lottery?

I’m joining the “Million Dollar Club!”

The ultimate goal of My Take on Money is to give readers tips on how to get out of debt and build wealth.  As a result, I thought it would be a great idea if I led by example by showing you my personal strategy of how I plan to obtain wealth by joining the Million Dollar Club over at Budgets are Sexy.

In order to become a Millionaire, I pledge to do the following:

  • Pay off my student loan debts as quickly as possible by throwing everything I have at it.
  • Pay off my mortgage by refinancing down to a 15-yr and pay bi-weekly.
  • Contribute up to the limit that my employer matches in my 401k every year
  • Max out my ROTH IRA every year
  • Sell unwanted items or unused items around the house to earn extra cash
  • Don’t take on any new debt….avoid it like the plague.
  • Become an entrepreneur by starting a side business
  • Find other ways to save money by being conscious of my spending patterns.
  • Help others to get out of debt and build wealth….always give back.

 I challenge you to take the pledge with me.

Million Dollar Club