5 Easy Ways To Make Money This Weekend

With the side hustle becoming a part of American Millennial culture, what better way to go into the weekend than a comprehensive list of things you can do this weekend to make some extra scratch? The following are five easy ways to make money this weekend that don’t require advanced degrees, crazy hours, selling bodily fluids, or becoming the subject of a sketchy research project: Start Driving For Uber : There’s a reason that Uber has become the quintessential side job. You can work whenever you like, for as long as you like, and even get the funds sent to your bank account within 24 hours. I personally use Uber in every city my travels take me and am amazed at the number of people who are driving full-time, making their living through Uber. The sign-up process is fairly simple and takes about 2 days to complete (so get after it if you’re going to drive this weekend!). Uber’s minimum guidelines include: You must be at least 21 years of age (If you’re 19-21 you could drive for UberEATS or UberRUSH) You must have a valid US Driver’s license You must show proof of vehicle registration and insurance You must use an eligible four-door vehicle Once you’ve been approved and download the Uber app, you’re ready to begin hauling passengers. Now that Uber has added the tipping feature to their application, make your ride stand out a bit to entice great tips. Here are some of the better experiences I’ve …

FIND YOUR FINANCIAL GRIT: A STEP-BY-STEP GUIDE

Winning with money is not an easy path to walk. The experience can definitely feel like a walk through the mud. If financial success had a mascot, it would definitely be the iconic tortoise from “The Tortoise and the Hare.” How does the Tortoise win with a clear disadvantage and the odds stacked against him? I bet if we had a chance to ask him, we would find that he’s got a lot of grit. In her popular Ted Talk, University of Pennsylvania Professor and Psychologist Angela Lee Duckworth defines “grit” as “passion and perseverance for very long-term goals.” She continues to explain that “grit is stamina, and sticking with your future – not just for the day, not just for the month, but for years.” Check out her full talk here. Duckworth’s research has even shown that “grittier” kids are significantly more likely to graduate! If it is true that grit determines success more than IQ, what makes up grit? Is there a way to harness the power of grit to achieve financial independence? How would you define “financial grit?” Here’s my suggestion: Goal-driven… Responses to daily situations that… Incrementally increase our likelihood to win over… Time Every piece of this gritty puzzle is just as important as the next. Without all elements, our ability to build and harness true financial grit falters, and we may fall short of our goals. Let’s take a look at what makes up our financial toughness. It’s time to channel our inner-amphibians and officially …

Debt Distortion: Why Dave Ramsey and Robert Kiyosaki are BOTH Right

Imagine a world where everything you perceive to be true about finance, family, fitness, food, etc… is not what millions of other humans perceive to be true. Not only that – people attempt to bring you down for your beliefs, or talk quietly amongst themselves about how stupid you are for doing the things you do. To be fair, you don’t think that highly of them either. You’re experiencing selective distortion – welcome to planet Earth. A Tale of Two Titans Let’s take a look at two highly successful, well-respected financial gurus and their respective stances on debt: Robert Kiyosaki, author of Rich Dad, Poor Dad, says that there is such a thing as good debt – or debt used to buy money-generating assets like rental properties and business equipment.   Dave Ramsey, radio personality and author of The Total Money Makeover, teaches followers to avoid debt altogether, often quoting Proverbs 22:7 – “The rich rule over the poor, and the borrower is slave to the lender.” Both agree that  debt carried on credit cards and cars is to be avoided, because these things only make us poorer. Kiyosaki is not against using credit cards persay, but teaches that balances should be paid in full every month. While some see Ramsey’s stance on not using credit at all as extreme, the fact that the Federal Reserve estimates that almost half of U.S. households are unable to pay their credit card bills in full each month, and that these households owe more than $800 billion in card debt …

Mortgage or No Mortgage: Why Your Personal Financial Plan Is Crucial

Whether or not to pay off your mortgage is a very individual decision that is based on a number of factors. My sister and I were having a conversation not too long ago about mortgages as she and her spouse were refinancing their home in Northern California. I was throwing ideas out to her about keeping the original first mortgage they had in place and blasting away the second using a debt elimination tool like Shred My Mortgage. The first mortgage had a healthy balance but a relatively low interest rate and the second mortgage was hovering around $40,000 with a higher than market rate. I was trying to convince her that by creating income efficiency through leveraging a Home Equity Line Of Credit as a checkbook, she could knock out the 40k in a matter of a few months and be left with just the first lien (which could be paid back in about 7-10 years using this system). Then she asked me, “what if I don’t ever want to pay off my house?” That question got me thinking about their unique situation versus my unique situation. And to that extent everyone’s unique situation. My situation I’m a serial entrepreneur having not held a “real job” (as my in-laws have described it) for over 12 years. There is no pension plan waiting for me, no guaranteed health benefits down the road from a past employer, no 401k match (that’s not provided by yours truly), no paid time-off. So naturally, …

Love Your Kids? Let Them Struggle.

**Originally published on The Huffington Post – February 7, 2017** “What do you do when your girls are texting you to put money in their account?” This was the first question asked by a group of parents at a college parent night where I had been invited to speak. The look on this particular dad’s face suggested it wasn’t a hypothetical situation but something that was happening occasionally. So I turned the question back on him, “What do you do when your girls are texting you to put money in their account?” “I usually put some in there for them, but it never lasts as long as it should.” He replied. “And why do you put money in their account?” (I had a good feeling about what the answer was going to be before asking, but had to make sure…) After thinking about his answer for a long 20 seconds, this dad replied, “I love my girls and I don’t want them to struggle.” At that point I looked around the room at all of the parents and asked four or five of them point blank, “Did YOU struggle when you were 20? Did YOU struggle when you were 20? Did YOU struggle when you were 20?” All of them, it seemed, had struggled financially while in college. And while I understand the desire to make things better for your children than perhaps the way you experienced life, why have we made struggle and love mutually exclusive for this generation …

Paying Off Debt: Why, Ultimately, It’s All About “Me”

Should I focus on paying off debt by paying extra on my student loan and mortgage debts, or should I just pay the monthly amount due and put extra into my investments? I’ve been asked “Should I be focused on paying off debt or investing?” more times than I can now specifically recall. My old answer was: “Are you nuts?! Pay off the debt as fast as possible!” Where I come from, debt is bad. The entire thought of it gives me the heebie-jeebies. My soul hurts when I remember the days of living under my debtor over-lords. I took a staunch, all-or-nothing, debt-free or bust mentality. The problem with that solution? Everybody’s not me, and for some people “bust” might be a more likely outcome of focusing solely on debt elimination. So what’s my answer now? “It depends.” When faced with paying off debt or not, there are some factors to consider. We’ll get to what it depends on in a minute, but just like everything else – what’s right for someone else may not be right for another. A personalized financial game plan will include a written debt elimination strategy, but that strategy will be largely dictated by where we fall on the Math-Emotion (ME) Spectrum. The Math-Emotion Spectrum I call this the Math-Emotion Spectrum because, well – most people don’t live 100% at either end. Although we may feel like we’re absolutely at one end or the other, some soul-searching would probably result in us finding that we …

Is The Scholarship System Legit?

With the high (and ever-rising) cost of college, many people turn to scholarships to help fund their higher education. Hear how one debt-free graduate did it and turned her knowledge of scholarships into a business. And you’ll finally get the answer to the question – Is The Scholarship System Legit? Student loans are predicted to push past the $3.3T mark by the year 2024 which should have parents, students and Universities quaking in fear. Parents because they’ll be on the hook for a chunk of those loans, students because they’ll be paying off the loans for the next 20+ years, and Universities because at some point society will begin to question whether or not higher education is worth the price of admission. No matter which group you fall into, know this: There are ways to minimize what you have to pay in tuition if you look hard enough. People are figuring out ways to take advantage of you to “help” you navigate this process. Scholarships Are Part Of The Answer While the estimated numbers vary, suffice it to say there are billions of dollars worth of scholarships that go unclaimed every year for a variety of reasons. When I’ve asked high school and college students why they don’t apply for more scholarships they give me answers such as: “I’m too lazy” “Don’t know where/how to look” “My grades aren’t good enough” and “I hate writing essays”. All of which are valid (and very honest) reasons. But none are GOOD reasons. …

Sizzling Tulips- Why You Shouldn’t Try To Time The Market

What follows is a cautionary tale that perfectly illustrates why – when it comes to investing – we should all avoid trying to time the market. In essence, avoid the sizzle. The year is 1634. The place – Holland. Tulips made their way to the Dutch from Turkey and, being a new flower, were pretty pricey. People were paying a pretty penny for the pretty flower, but the tulip’s hay-day was still yet to come. After the flowers contracted a unique virus that presented itself as a flame-looking pattern on their petals, the craze began. As the variations continued to expand and prices continued to rise, “tulip-speculators” emerged as a real class of investor. People lost their minds. They traded in their homes to buy these things, liquidated life savings, cashed out on large assets, and probably the family dog too. The tulip bubble was intense. Tulip mania was real. At the height of the craze, a tulip would go for an entire estate. At the bottom, really – just the actual price of a flower (go figure). Guess what happened? Yup – high-volume holders of tulips began to sell, which created a domino effect and the market for this fine flower came tumbling down. The following depression was devastating, even for those that profited from the original sale of their flowers. The bottom line? When everyone’s piling on, that’s a great signal to stay away. Sizzling is really only awesome when it’s associated with a steak at Applebees being put in …