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If you love your job, there's no need to leave! But, keep in mind that average job switchers earn 20% more than their current salary, and the average annual raise is only 2%. Switching jobs every few years can make a huge difference in your long-term salary acceleration.
Investing is the absolute BEST way to earn an average of 10% growth on your money every year, without having to do ANYTHING besides let it sit there and grow, grow, grow.
BONUS: investing comes with tax benefits!
The average bank account will earn you .1% interest each year. The average high-yield savings account (HYSA)? 5% interest! Don't miss out on the easiest passive income on this list!
Have you had the same credit card for the last few years? It might be time to apply for a new one and take advantage of the bonus points that come with your new card! Free flight to Hawaii anyone?
There are THOUSANDS of ways to make passive money online, from starting a Fiverr account and offering project-based services, to selling digital products and templates on Etsy, to becoming a writer and selling your own books online. The options are endless!
What's your current hourly rate? Have you thought about what you could charge hourly for your services, or thought about creating a package of your services for a set price? It's never been easier to sell your services a la carte on websites like Fiverr and Upwork.
Real estate investing has the unique advantage of 1) Making you passive income through rent payments, 2) Building you equity while a renter pays down your mortgage, 3) Growing in value over time, and 4) Depreciation of the home value over 27 years. It can also come with added expenses (home maintenance, taxes, insurance).
This is another super simple way to keep more money in your pocket! Check out: camelcamelcamel: an Amazon price checker site, Rakuten: Sign up and add the extension to your internet browser, and Ibotta: Get the app to get coupons on your favorite items plus cash back!
Planning for retirement can be a major source of stress. How to reduce that stress? Calculate how much you need so you can KNOW if you're on track. If you're worried about not contributing enough, that's ok! Let's talk more about how you can create addition income streams and reach your contribution goals.
A good rule of thumb: Work towards setting aside 6 months of your living expenses in an interest-bearing savings account for emergencies. If that seems like a lot, remember that every dollar matters! Set aside whatever you can and works towards a goal that makes sense for you.
Quick tip: Take 30 minutes this next weekend to log into your insurance portals (car, home, renters) and see if you're overpaying for any insurance options. Consider a Health Savings Account: One of the best kept secrets! It offers a tax-advantaged way to save for medical expenses. Learn all about the benefits here.
If there is ONE thing you do after taking this quiz, I hope it's this: Track your income and expenses monthly! Knowing your cashflow (aka money coming in and going out) is the FOUNDATION of wealth building. Looking for a budgeting spreadsheet that makes budgeting fun? Check this one out.
Deciding whether to pursue graduate school for career advancement is a significant crossroads. As a former college academic advisor, I can tell you with transparency that there are times when paying for additional schooling is a GREAT idea - and there are times when it won't necessarily pay off. In the end, it depends what you hope to get out of your advanced degree and whether your future pay rate will more than cover the cost of more school!
Having a positive mindset towards money is HARD, and definitely not common. But, it's worth pursuing! Simply believing that you are capable of making more money can be lifechanging, and will influence the actions you take for the rest of your life. If you want to think differently about money, try reading one of these amazing books (all $10 or under): Rich dad poor dad, Secrets of six figure women, or Nice girls don't get the corner office.
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Disclaimer: All information shared on this website, blog, social media, online courses and programs, and through 1:1 and group coaching is meant to be educational information, not financial or investment advice. I am not a certified tax or investment professional; please consult your certified financial advisor, retirement representative, certified professional accountant, or other professional advisor before making changes to your financial accounts. My goal is to share my personal experiences and general education to spread awareness and empower women with information. Please note that there is inherent risk involved in investing in the stock market, and I do not guarantee earnings or investment results.
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Learn how to create passive income, invest as a beginner, and plan for early retirement.