Top 5 Reasons to Start a Side Business

Top 5 Reasons to Start a Side Business
By Wendy Stewart

Love your job but not loving the pay? Wish you had more freedom and time? Look no further than starting a side business. Businesses you start on the side can offer you many benefits but I will only highlight my 5 favorites. By the end of you this article, you will be looking for ways to start your own side business and sending me your success stories!

1. Money

If you couldn’t use a little extra money in your life, then you are truly blessed. But for many of us, extra money can bridge the crucial gap because surviving and thriving. It decides which bills get paid first (and which can wait a little) and how long we stay at a job we hate. When you gain more control over how much money you bring in all of that changes. You have extra money to put on debt, save for a car, or even get out from under your mortgage. The possibilities are endless once you get extra money in your hands.

2. Freedom

Being stuck doing something you hate is a tragedy. Usually because it prevents you from really bringing your talents to the marketplace. When you start your own side business, you also gain freedom over your time. You may make enough money to cut down your hours at work and spend more time doing something you truly enjoy. The point is your boss no longer controls 100% of your time. As your business grows, so does your ability to choose how to spend your time. Which leads me to my next point…

3. Flexibility

What do you do if you wake up sick and can’t work? Are you just out of luck and have depend on the kindness of your boss/manager/supervisor to say it’s okay to stay home? Or it is the more familiar scenario where you drag yourself in anyway because you cannot afford the time off? Maybe you’re perfectly healthy but there’s a convention you want to go to and aren’t sure if you can get the time off. Another tragedy. With your own side business, you can potentially cut down your hours at work or even not have the dreaded fear of losing out on pay because you wanted to spend time doing something you enjoy.

4. Choice

Letting your side business grow enough may give you the option to leave a job you don’t like. I don’t assume everyone hates their jobs but I’m guessing some of you may do a similar job, just differently. Or you just want to have the ability to move from one temporary job to another because you like the variety of it all. Whatever the reason, you’ll be in a better position and actually have these choices once you have used your side business to put yourself in a better financial position.

5. Money, again

I cannot discount the importance of how an influx of extra money can change your life. What would you do with an extra $500 or more per month? What could you do if your side business outperformed your employee salary? Freedom, flexibility, and choice become your allies as you transition to a lifestyle you have designed; not the one your boss thinks you should have.

Be the mistress of your own financial destiny and start a side business. If you are reading this and have already seen success from your side business, leave your story below so we can all share in your success!

For even more tips, visit: http://thecollegeinvestor.com/15912/the-power-of-starting-a-side-business/

7 Ways to Take Advantage of Maryland Tax Free Week

7 Ways to Take Advantage of Maryland Tax-Free Week

By Wendy Stewart

Each year, during the second full week of August, Maryland has its annual Tax Free Week. Tax Free Week is meant to do a number of things, including giving retailers a boost. Primarily, the state hopes you’ll do a ton of “back to school” shopping during this week in order to avoid the 6% sales tax normally levied.

I love Tax Free Week but there are ways to be strategic and get the most out of your dollar. After all, just saving sales tax is just the beginning. Here’s how to maximize your Maryland Tax Free Week!

1. Know the rules

First of all, you need to know what is and is not tax exempt. For the most part, apparel and footwear under $100 make the list. But if you aren’t sure if a certain item qualifies, the state of Maryland has put together a handy list for you. Print out the list and take it with you along with #2…

2. Make a list

With all of the savings going on, it may be tempting to go wild and shop ‘til you drop. Do that and you’ll bust your budget and desperately waiting for your next payday. Do yourself a favor and make a list. Since tax free week comes before the beginning of school, prioritize uniforms and other school clothing and shoes. Make a detailed list of what you want, where it is available, and the cost. Just like grocery shopping, this will keep your impulse purchases to a minimum.

3. Know your budget

If you just got paid it could be very tempting to spend much of that money on tax free items. Huge mistake. Treat this like a regular line item in your budget and gather your money accordingly. Bonus points if you’ve been saving since last year!

4. Know which local retailers are offering extra deals

Many chain retailers offer just the normal reminder via signage about tax free week. There may even be a hefty number of signs inside of the store to remind and entice you to purchase. I have nothing against Target or Kohl’s but you may find better deals if you shop locally.

Because the businesses have a bit more flexibility and want your business, they may offer special deals for shopping local. For example, you could go and hit up your local chain running store, or you could shop locally at Charm City Run which is offering a great deal this week if you spend more than $100.

5. Remember the coupons and loyalty cards

If you have shopping loyalty cards such as Shop Your Way or store cash like at Kohl’s, now is the time to bring them out. Worried you won’t have any points or cash left for the winter holiday shopping season? The purchases you make this week may just make up for the deficit. Also remember you still have the Labor Day weekend get ahead in shopping and store dollars.

6. Don’t forget the socks and underwear

While you’re busy getting hooked up with uniforms, shoes, and all things tax free, don’t forget the socks and underwear. Usually they are also tax exempt and you’ll thank yourself for stocking up on something you already need. Plus it gives some of you an excuse to head to your nearest Victoria’s Secret!

7. Start saving for next year!

Now the week is over and you’re feeling victorious. You’ve shopped the sales, saved with coupons, and stayed within your budget. What do you do now? Save for next year! Tally up your receipts from the week including any items you didn’t have room for in the budget. Use that total to set your savings goal for the next tax free week. For example, you spent $400 but wanted to spend $600. Take the $600 and divide by 12 months. That gives you $50 per month you know you’ll need to save for next year. It helps to save monthly in a separate account so you can be sure to avoid spending the money beforehand.

Well, that’s it - my seven tips for making the most of Maryland Tax Free Week. Happy shopping and leave tales of your spoils of war below!

Top 5 Ways to Coupon Without Being Extreme

Top 5 Ways to Coupon Without Being Extreme

By Wendy Stewart

Know the value of using coupons but too overwhelmed but the “extreme couponer?” No need to shy away from the coveted newspaper inserts because I have my top 5 tips to show you how to save money with coupons without going extreme.

1. Limit your newspaper subscriptions.

If you’ve ever seen the show, “Extreme Couponing,” you saw households which get 20 newspapers per week for the coupon inserts. You only really need enough coupons for the amount of goods you’re trying to buy. If you want to always stock up on items, then a good rule would be no more than one paper per household member. So if you have a household of 6, then don’t subscribe or buy more than 6 newspapers. If you are a household of one, then 2 papers should be your maximum.

2. Shop the sales.

This one should go without saying but try to save the coupons for when the product is actually on sale. I know it’s tempting to use the coupons the week they arrive, but, trust me, it’s better to wait. Unless the coupon is for something you need right away, then it will go on sale and that’s when you’ll save the most money.

3. Shop at Target…

Target is one of my favorite places to shop. While we could debate the merits of Target v. Walmart and which one has lower prices or a better selection, there are two things which really set Target a part for me: gift cards and the Red card.

Look at any Target weekly ad and you’ll see promotions for Target gift cards. Examples include buying a certain dollar amount in a department (like $30 in school supplies for a $5 gift card) or certain items will be listed and if you buy 2 or 4 you get a gift card. Using your coupons just makes the deal so much better as you’re paying less but still get the gift card. Combine this with any of Target’s Red cards (credit/debit/prepaid) and you get an extra 5% off of your total every day. It may not seem like much, but it adds up.

Additional savings at Target can be reaped by combining Target store coupons with manufacturer’s coupons and Target’s exclusive Cartwheel app, but more on that in another post!

4. …and where you can double/triple coupons

But what if there is a market around you that doubles or triples coupons? My dear you’ve hit a jackpot and definitely make use of that! There are a number of markets around me which double or triple coupons on a daily basis. One of my favorites, Harris Teeter, even does a “super double” every few weeks where you can double coupons with a face value of up to $2. That’s a super deal as far as I’m concerned!

Be sure to read the coupon policy carefully so you know how many coupons you can use per item per order and per household.

5. Stay organized.

If you’re going to be clipping coupons, you may as well be organized about it. I’m not saying you need a coupon binder, but it’s my favorite way of organizing coupons. I organize by category but you may want to organize by the date of the insert or come up with a completely different way to organize. Whichever you prefer, you’ll need either a binder or small coupon organizer. For the best deals, check out the ones I found from Amazon.com. The binder is the same one I use but I am a bit more extreme than most!

Even if you only use one of these tips, I hope you find success on your coupon journey. After all, this is about saving money, not going insane in the process.

Do you have a tip I haven’t thought of? Have shopping tips of your own? Leave a comment below and share with us!

Tracfone now has the iPhone

iPhone 5s at Target.com

If you've seen this week's ad paper from Target, you'll notice a nice ad for TracFone users or those looking for an inexpensive iPhone.

On sale this week, for $49 off, is the iPhone 5s now available on TracFone for $149.99 (with purchase of a 200 minute card for $39.99 which triples to 600 minutes). This is great news for those who wanted an iPhone but didn't think it was in the budget or you're an existing TracFone customer looking to upgrade.

Data plans for smartphones start at 300 MB and go up to 4GB. Unused text, minutes, and data can be rolled over as long as the account remains active through the service end date.

Find out more but checking out this link: http://www.target.com/p/tracfone-iphone-5s-16gb-space-gray/-/A-51169070