Posts Tagged ‘ways to improve your finances’

More Money For Millionaire Nurses

Wednesday, January 27th, 2010

Extra Income For Nurses

You have decided to make a huge change.  You have decided to quit spending more than you earn.  You look at your spending plan.  You add up your payments and bills. You add up the income.

Your extra money- to put against your debt-there is NONE!!!!!

What can “Millionaire Nurses do, to break through the log-jam and make progress?

We have discussed this a few times:

  • Sell stuff-yard sale, e-Bay, consignment-to raise money
  • Getting rid of some of your payments-use cash raised above to add to the sales price of that 4 wheeler to pay off the note-one more payment gone-Cha-Ching!!!!  (Substitute boat, big screen, Harley or whatever toy you are making payments on.)
  • Earn extra money!

EARNING  EXTRA MONEY

Earning extra money–let me go talk to the boss, for a raise-well, that does work sometime, but let’s just pretend you are still in nursing school-( I know, what a nightmare!).     What can you do?

  • Tutor your friends, especially if you are strong in a certain subject like Anatomy, or Chemistry.  Put up a sign on the bulletin board at school, advertise on Craigs’ List.  See what the going hourly rate is.  Just make sure you don’t get carried away and have it hurt your progress to your degree.
  • Car pool-pick up others, and have them pay towards gas and car maintenance.
  • Get a room-mate or rent out a room or couch- if you have one.
  • Start a blog, and monetize it-if you can write, and are creative.
  • If you are a savvy-social networking expert, (spend too much time on facebook) advertise your services to old people like me to help them set up their page, teach them to post.  They will pay you, and probably feed you, mother you, and you never know, you might find a mentor.

OK, so you are working as a nurse and no raise is in sight…  What can you do?

  • You too can tutor nursing students.
  • Work extra shifts, and over-time.
  • Rent out one of your rooms-maybe to a nursing student-be a landlord and a mentor!!!!
  • Carpool to work-to share expenses.
  • Second job-either in nursing, or in your hobby area-catering on the weekend if you like to cook and you work weekdays.  Find a “temp” agency, and get on their list.

Get creative.  Let nothing be sacred.  Get after your debt.  Remember, as you pay down your debts, you will have more money to put against the remaining bills so the process speeds up-unless your “spending demon” awakes from the dead!

When you are finished knockin your debt down with a hammer, remember how hard you worked:

And never go there again!

Tell us your stories or ways you have earned extra money-legal or illegal-(JUST KIDDING!!!).

Twelve Ways to Not Become a Millionaire Nurse

Saturday, November 28th, 2009

Millionaire Traits-Not!

Remember the song,  The Twelve Days of Christmas, listing all the things “my true love gave to me”.  I thought in honor of the season, I would give Twelve Ways to not becoming a Millionaire Nurse.

So here goes:

  1. Not paying attention to my money-no spending plan, budget, or clue of what to do.
  2. Paycheck runs out before the month does.
  3. Buy/lease a new car.
  4. Purchase any item without planning/study of item and how it fits into your budget.
  5. Not having an emergency account.
  6. Borrowing money for college, beyond the bare minimum, and not being able to pay the student loans off quickly. (Such as borrowing $100,000 for a job that pays $25,000/year-just doesn’t make sense, but people do it all the time.
  7. Carrying a balance on a credit card.
  8. Forgetting  those once per year bills and not saving for them- such as insurance,  or taxes.
  9. Shopping without a list/plan.
  10. Eating out/fast food daily.
  11. Borrowing money for routine purchases-not saving and paying cash  for the new “blank” that you really need.
  12. Not saving money for retirement, and building wealth.
  13. Wasting time-TV, online, video games, reading celebrity mags.

Yes I gave you a baker’s dozen just to see if you were paying attention.  Which to me is the number one thing that will help most folks manage their money-just pay it a little attention-give it some love as the saying goes.  Make it a priority in your life to learn about and understand how money works, how savings grow over time in an interest bearing account.  Learn what your money mistakes are and make a plan to deal with it.

And if you need Emergency Money Resuscitation, check out my free ebook.  I will also send you my free mini-course on personal finance.

Please let me hear from you about your most common problems involved in managing your money-I want to help, and the way to getting better is to admit the problem, so please make a comment or ask a question.

I have also posted this question-” What are your most common money mistakes ?” over at Cash Commons-check out those answers too.