Tips On How To Make Passive Earnings Online

“I often catch myself making plans to buy something that I really don’t need, and likely can’t afford, simply because it’s on sale.”—Anna,* Brazil.

“Sometimes my friends invite me to do things socially that are expensive. I want to be with my friends, having fun. Nobody wants to say, ‘Sorry, I can’t afford to go.’”—Joan, Australia.

DOES it seem that you never have quite enough spending money? If only your allowance were a little larger, you could buy that game you want. If only your wages were higher, you could buy those shoes you “need.” However, rather than fret about the money you don’t have, why not learn to control the money that does pass through your hands?

If you are a young person living with your parents, you could wait until you leave home to learn how to manage money. But that would be like jumping out of an aircraft without first learning to use a parachute. True, a person might be able to figure out what to do while hurtling to the earth. How much better, though, if he learned the basic principles of using the device before jumping!

Similarly, the best time for you to learn to manage money is before the harsh financial realities of life confront you. “Money is for a protection,” wrote King Solomon. (Ecclesiastes 7:12) But it will only protect you if you learn how to control your spending. Doing so will boost your confidence and will increase your parents’ respect for you.

Learn the Basics

Have you ever asked your parents to explain what is involved in maintaining a household? For instance, do you know how much electricity, heat, and water cost each month and how much it costs to run a car, to buy food, and to pay the rent or the mortgage? You might think such details would be boring. Remember, though, that you help incur those bills. Besides, if you leave home, you will have to start paying for these things yourself. So you might as well learn about them. Ask your parents if you can see some of the bills, and listen closely as they explain how they budget for them.

“A wise person will listen and take in more instruction, and a man of understanding is the one who acquires skillful direction,” says a Bible proverb. (Proverbs 1:5) Anna, mentioned earlier, says, “My father taught me how to make a budget, and he showed me how important it is to be organized in managing family funds.” Meanwhile, Anna’s mother taught her other practical lessons. “She showed me the value of comparing prices before buying,” says Anna, adding, “Mom could work wonders with a small amount of money.” What has been the benefit to Anna? “I am now able to care for my own finances,” she says. “I carefully control my spending, so I have the freedom and the peace of mind that come from avoiding unnecessary debt.”

Recognize the Challenges

Admittedly, controlling your spending is easier in theory than in practice, especially if you live at home and receive an allowance or earn money from a job. Why? Because your parents are likely paying most of the bills. So a large percentage of your money may be available for you to spend at will. And spending money can be fun. “Spending is very easy for me, and it is enjoyable,” admits Paresh, a young man in India. Sarah, from Australia, feels similarly. “Buying things gives me a thrill,” she says.

In addition, your peers may pressure you to spend beyond reasonable limits. Ellena, aged 21, says: “Among my peers, shopping has become a major form of entertainment. When I’m out with them, there seems to be an unwritten rule that you must spend money if you’re going to have fun.”

It is natural for you to want to fit in with your friends. But ask yourself, ‘Am I spending money with my friends because I can afford to or because I feel I have to?’ Many people spend money in an attempt to boost their reputation with friends and associates. This tendency can cause real financial problems for you, especially if you have a credit card. Financial adviser Suze Orman warns: “If you feel the need to impress people with what you have rather than with who you are, you are at high risk for credit card abuse.”

IS MORE MONEY THE ANSWER?

Would just having more money be the solution to your spending problems? “We all think that a bigger paycheck would be the answer to our financial woes, but that is rarely the case,” says financial adviser Suze Orman.

To illustrate: If you were driving and did not have control of your car or were in the habit of steering with your eyes closed, would putting more fuel in your tank make you more comfortable? Would you be more likely to reach your destination safely? Likewise, if you do not learn how to control your spending, earning more money will not improve your situation.

Instead of maxing out your credit card or spending your whole paycheck on one night out, why not try Ellena’s solution? “When I go out with friends,” she says, “I plan ahead and calculate a limit to my spending. My pay goes straight into my bank account, and I take out only the amount I need for that outing. I also find it wise to go shopping only with those of my friends who are careful with their money and who will encourage me to shop around and not buy the first thing I see.”—Proverbs 13:20.

Learn From the Answer No

Even if you do not receive an allowance or money from a job, you can still learn valuable lessons about money while you are living at home. For example, when you ask your parents for money or ask them to buy you some item, they may say no. Why? One reason might be that your wants cost more than the family budget can bear. By saying no to your request—although they might prefer to say yes—your parents are setting you a fine example in self-control. And self-control is vital to good money management.

Suppose your parents can afford to say yes to your requests. Even then, they may still say no. You may think that they are just being mean. But consider: They may be trying to teach you the important lesson that your happiness is not dependent on obtaining everything you want. In this regard the Bible says: “A mere lover of silver will not be satisfied with silver, neither any lover of wealth with income.”—Ecclesiastes 5:10.

The truth of those words is borne out by the experience of many youths whose parents buy them everything they want. Soon youths discover that they are never truly content. No matter how many things they accumulate, they always feel the need to add just one more purchase to the pile. In time, youths who expect to receive their every request may become unappreciative adults. “If one is pampering one’s servant [or child] from youth on, in his later life he will even become a thankless one,” warned Solomon.—Proverbs 29:21.

Money Is Time

Some cultures have the saying, Time is money. This emphasizes that people must spend time to earn money and wasting time is wasting money. The converse of this saying is also true—money is time. If you waste money, you are really wasting the time it took to earn that money. Learn how to control your spending and you learn how to control your time. How so?

TAKE CONTROL

How much money have you spent over the past month? What did you spend it on? You don’t know? Here’s how to take control of your spending before your spending takes control of you.

Keep a record. For at least one month, record the amount of money you receive and the date you receive it. Describe each item you buy and the amount it costs. At the end of the month, add up the amount received and the amount spent.

Make a budget. On a blank page, draw three columns. In the first column, list all income you expect to receive in a month. In the second column, list how you plan to spend your money; use the entries in your record as a guide. As the month progresses, write in the third column the amount you actually spend on each of the planned expenses. Also, record all unplanned spending.
Adjust your plan. If you are spending more than you anticipated on some items and are accumulating debt, adjust your plan. Pay your debts. Stay in control.

My Monthly Budget
Income - Budget for expenses - Actual amount spent
allowance - food
part-time job - clothes
other - phone
- entertainment
- donations
- savings
- other

Remember, if you waste money, you are also wasting the time it took to earn that money

Consider Ellena’s comments. “When I control how much I spend, I control how much I have to earn,” she says. “By creating a workable budget and then sticking to it, I don’t have to work long hours to pay off large debts. I am more in control of my time and my life.” Wouldn’t you like to have that kind of control over your life?

Prepare Well for Your Interviews

What is involved in preparing for an interview? You may want to research the company you hope to work for. The more you know about the company, the better the impression you will make during the interview. Your research will also help you determine whether the company really has the kind of work you want or is one you want to work for.

Next, think about what you will wear to the interview. If the job you seek involves manual labor, wear appropriate neat, clean clothing. Neat dress and grooming tell the prospective employer that you take pride in yourself and are thus more likely to take pride in your work. If you are hoping to work in an office, choose modest clothing that is considered suitable business attire where you live. Nigel says: “Choose your clothes long before you are due to attend your interview so that you don’t feel rushed and unnecessarily increase your levels of stress prior to the interview.”

Nigel also recommends arriving for your interview about 15 minutes early. Of course, arriving too early is not wise. But arriving late could be disastrous. Experts say that the first three seconds of your interview are crucial. During that brief time, the interviewer makes assessments about your appearance and your bearing that deeply influence his or her opinion of you. If you are late, you will make an overwhelmingly negative impression. Remember, there are no second chances to rectify first impressions.

Remember, too, that the interviewer is not your enemy. After all, he likely had to apply for his job, so he knows how you feel. In fact, he may be nervous, since he may have received little or no training on how to conduct an interview. In addition, if the interviewer is the employer, he may have much to lose if he chooses the wrong person for the job.

To start off well, smile and give the interviewer a firm handshake if that is the customary greeting. During the interview, concentrate on what the employer needs from you and what you have to offer. Regarding things to avoid, Nigel says: “Don’t fidget or slouch—good posture conveys confidence. Don’t be too informal or overly talkative, and definitely do not use profanity. Also, avoid being negative about your former employers and workmates—if you are negative about them, the interviewer will likely feel you will be negative about this job too.”

Regarding things to do and say during the interview, experts recommend the following: Maintain eye contact with the interviewer, use natural gestures when you speak, and articulate clearly. Be concise and honest when answering questions, and ask relevant questions about the company and the prospective job. At the end of the interview, if you still want the job, ask for it. Doing so will show your enthusiasm.

By following the suggestions outlined above, you may soon have a job. If that is the case, what can you do to increase your chances of keeping it? read next article click here