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Make Improving Your Finances Your Part-Time Job

October 15, 2023 By MelissaB Leave a Comment

Imagine you give all the money you make in a month to an accountant and ask him to manage the money for you.  However, at the end of the month, he can’t tell you where the money went, just that it’s gone.  You’d likely be highly upset and fire the accountant.  Yet, that’s how millions of people handle their money.  You can’t fire yourself, but you can educate yourself and make improving your finances your part-time job.

Make Improving Your Finances Your Part-Time Job

Are You Like Most Americans?

When is the last time you took a vested interest in your own finances?  Do you make a budget every month?  Do you track how much you spend each month and on what?  If you don’t, you’re not alone.  In fact, approximately 60% of Americans don’t have a monthly budget (Business Insider).

How much time have you spent reading personal finance books and articles in the last year?  Learning about investing?  If you’re like the average American, the answer is not much.

Instead, many of us spend time doing activities that really don’t help us much in the future—scrolling through Facebook and Instagram, watching our favorite tv show, having a Netflix binge, talking on the phone or texting.

Make Improving Your Finances Your Part-Time Job

What if you used just a fraction of that time to improve your finances?  How different would your financial situation be a year from now?  Five years from now?  Ten years?

If you’re finances aren’t in the shape you’d like, why not challenge yourself to make improving your finances your part-time job?

What Is the Weekly Time Commitment?

Don’t worry, improving your finances isn’t going to take a lot of time.  I’m just asking you to set aside two to four hours a week to improve your finances.  You won’t be sorry.

Make Improving Your Finances Your Part-Time Job
Photo by Kelly Sikkema on Unsplash

What can you do in that amount of time?  Plenty.

  • Set up a budget
  • Track your spending
  • Pay your bills
  • Call your credit card company to get your interest rates reduced
  • Investigate refinancing your student loans, and if doing so will save you interest, actually refinance them
  • Read a personal finance book
  • Call your internet and cable provider to get your monthly bill reduced
  • Investigate house and vehicle insurance costs and change companies if you’ll save money and get the same coverage
  • Get an assessment on your home to potentially lower your property tax bill
  • Learn about investing
  • Take free online personal finance classes
  • Invest some of your money
  • Sell some of your unused items on Craigslist or Facebook
  • Listen to personal finance podcast
  • Start building passive income (stocks are good for this)

This is only a small list of things you can do when you start your part-time job of managing your money, yet you can reap serious financial rewards.

Tools to Use

If you’re new to taking an educated, methodical approach to improving your finances, there are many places to go to learn more.  There are also many tools available.

You Need a Budget (YNAB)

For the last four years, I’ve been budgeting using You Need a Budget (YNAB).  I’ll admit, there’s a bit of a learning curve to using this software, but there are many free online trainings you can watch that cover every aspect of how to use the software.  There’s also an active Facebook group, YNAB (You Need a Budget) Fans, where you can find quick answers to many of the questions you might have about the software.

If you’re interested in trying YNAB, you can sign up for a 34-day trial for free.

Morningstar Free Investing Classes

Don’t know the first thing about investing?  Don’t worry.  That’s how everyone starts.  When you make improving your finances your part-time job, investing is an important concept to master.  Morningstar offers a number of free classes that cover a wide-range of topics:

  • Stocks,
  • Funds,
  • Portfolios,
  • Bonds,
  • ETFs,
  • Retirement, and
  • Planning

To access these free courses, simply sign up for a free Morningstar account.

The Library

Make Improving Your Finances Your Part-Time Job
Photo by Devon Divine on Unsplash

Another excellent, free place to learn more about money management and investments is the library.  You can find so many books there that will teach you about improving your finances!  Some of my favorite money management books include:

I Will Teach You to Be Rich by Ramit Sethi,

The Money Book for the Young, Fabulous and Broke by Suze Orman,

How to Make Your Money Last by Jane Bryant Quinn, and

Is Your Child a Money Master or Money Monster by Sunny Lee (excellent book for teaching your children in a natural way about money management)

All of these are available on Amazon, and if you get a copy of the book, the site will get a small commission that will help keep the lights on.

YouTube

You can find many money management and investment videos on YouTube.  Just be sure to first check the credentials of the person offering advice.  Anyone can put up a YouTube video.

I sometimes enjoy watching Dave Ramsey videos (though not when he goes on tangents).

If you’re new to budgeting, there are people on YouTube who share their budgets every month.  One person that many people find inspiring is The Budget Mom.  She shares her budget each month and also does a recap at the end of the month.

Make It Fun

If the idea of spending a few hours a week on personal finance makes your eyes glaze over with boredom, try to make the time fun.  Set aside a certain time, maybe Saturday morning, or a few minutes every day.  Get comfy and make your favorite drink and settle in to work.

Investing Time Now Means You’ll Save Time Later

Remember, as you increase your financial education, you won’t need to spend as much time on your finances.  Maybe initially you’ll spend four hours a week or 16 hours a month, but a year or two down the line, when your finances are better and you know more, you may only need to spend two hours a week or eight hours a month.

As your financial situation improves, you’ll likely have more incentive to keep spending a little time each week working on your finances.

Try it.  What do you have to lose except a better financial future?

How much time do you spend every week working on your finances and growing your financial knowledge?

MelissaB
MelissaB

Melissa is a writer and virtual assistant. She earned her Master’s from Southern Illinois University, and her Bachelor’s in English from the University of Michigan. When she’s not working, you can find her homeschooling her kids, reading a good book, or cooking. She resides in New York, where she loves the natural beauty of the area.

www.momsplans.com/

Filed Under: General Finance Tagged With: budget, Investing, investing in your personal fiannces, you need a budget

4 Steps to Becoming a Forensic Pathologist

October 6, 2023 By Erin H Leave a Comment

If you are looking for a career where you will always have something new to do and that pays good money, a forensic pathologist career may be exactly what you are looking for. Forensic pathologists play a crucial role in forensic science by investigating the cause of death in suspicious or unexplained fatalities. They work closely with law enforcement agencies and medical examiners. Here is how you become a forensic pathologist.

Step 1: Obtain a Bachelor’s Degree

The first step towards becoming a forensic pathologist is to complete a bachelor’s degree in a relevant field. While no specific undergraduate major is required, most aspiring forensic pathologists choose to major in biology, chemistry, or related natural science. These programs provide a strong foundation in the sciences and prepare you for the following rigorous coursework and training. To make real money, you must cross-train in various fields. You should know that electricity can travel at over 6 million miles an hour, according to the ULL.

The old saying you must invest money to make money is very true regarding education. It would be best if you had a strong foundation in a relative field, and then you would need to work as an intern or apprentice to learn how to apply theory to real-world events. For example, you will learn about the importance of packaging and labeling to gene therapy and according to the ACGME. Of course, your formal education doesn’t end with your bachelor’s degree.

Step 2: Attend Medical School

After completing your bachelor’s degree, the next step is to attend medical school. You’ll need to earn a Doctor of Medicine (M.D.) degree or an Osteopathic Medicine (D.O.) degree. Medical school typically lasts four years and involves a combination of classroom instruction, laboratory work, and clinical rotations. However, you can become a forensic pathologist tech and don’t need to attend medical school

If you decide to attend medical school, you’ll cover a wide range of medical topics and have to invest a lot of money in tuition. Whether you will stop with a bachelor’s degree or move on to medical school, performing well academically and gaining valuable clinical experience during your rotations is crucial. Investing money in education will pay off.

Step 3: Pursue a Forensic Pathology Fellowship

Following your pathology residency, you’ll need to pursue a forensic pathology fellowship to specialize in the field. Forensic pathology fellowships typically last one to two years and are offered at accredited institutions or medical examiner’s offices. During this fellowship, you’ll work under the guidance of experienced forensic pathologists and gain hands-on experience conducting forensic autopsies, documenting findings, and providing expert testimony.

It’s essential to choose a fellowship program accredited by organizations such as the Accreditation Council for Graduate Medical Education (ACGME) or the American Board of Pathology (ABP). These accredited programs ensure that you receive high-quality training and meet the requirements for board certification in forensic pathology.

Step 4: Obtain Board Certification

To practice as a forensic pathologist, you must obtain board certification in forensic pathology. Board certification is typically granted by the American Board of Pathology (ABP) or the American Osteopathic Board of Pathology (AOBP). To be eligible for board certification, you must complete an accredited forensic pathology fellowship and pass the board examination in forensic pathology.

Being a forensic pathologist can open a world of career opportunities where you will make good money. For example, insurance companies often use forensic pathologists to determine the cause of death in a car crash. In Edinburgh, Texas alone, in 2019, there were over 2,500 car accidents. Make the career move that will put plenty of money in your pocket and provide you with a career that makes a difference.

Filed Under: General Finance

Here’s What to Know Before Investing in the Marijuana Industry

September 5, 2023 By Erin H Leave a Comment

The marijuana industry is currently one of the most promising sectors for investment. As legalization spreads across states and countries, it’s safe to say the green rush is on, and the potential for profits is pretty high! Thinking about investing in this direction? Good call! Get your finances in order and go for it. But before you light the investment fuse and jump into this budding industry (pun-definitely- intended) there are some key things you need to know. We’ll roll through what you need to know before investing in the marijuana industry to save you from having to learn through experience.

The Industry is Largely Divided by Two

The marijuana industry isn’t uniform and is broadly divided into two categories; medical marijuana, and recreational marijuana. Medical marijuana, usually extracted from non-psychotic compounds like CBD has gained significant traction in the past few years for its potential in treating a wide range of ailments, from chronic pain and epilepsy, to anxiety and even cancer symptoms. As a result, this section of the industry offers promising opportunities especially as more states and countries recognize the therapeutic benefits of medical weed, and continue to legalize its use. 67% of tree trimmers are more likely to work for private companies than publicly owned companies. This may be similar for marijuana growers and trimmers.

The other half of the marijuana industry is where the fun and profit merge. It’s the “good times” side of the industry, focused on providing consumers with a legal and enjoyable way to partake. On average recreational marijuana products contain about 10% THC since a person is considered to be under marijuana influence if their blood discloses about 5ng THC per millimeter.

Given its increasing popularity, the recreational marijuana market is currently booming in states where it’s legal with entrepreneurs capitalizing on everything from gourmet edibles to cannabis-infused beverages. Investing in this end of the market offers the advantage of a diverse array of products and services you can leverage for substantial profits.

There are Multiple Investment Strategies You Can Take

While the industry is largely divided into two, there are multiple avenues for investment catering to different preferences. If you have a green thumb and want to take a hands-on investment approach, consider marijuana cultivation and retail. As the demand for quality cannabis soars, there will always be room for skilled growers and innovative retail concepts that you can maximize to make money.

Have no passion for horticulture but still want to take a hands-on approach? Ancillary products and services are a good option. You may offer packaging, technology, security, and compliance solutions. As the industry grows, these supporting roles will become even more critical, and profitable.

Prefer a hands-off investing strategy? Consider cannabis stocks. There are now reputable companies that have established themselves in the cannabis sector, offering potential investors like you a piece of the green pie without ever touching a plant. If you choose this approach, invest in different marijuana companies such as equipment, pharma, and consumer products to diversify your portfolio enhancing your profitability while reducing risk. According to Waterproof Magazine, liquid-applied membranes account for 67% of all vertically-applied waterproofing products. Consider investing in waterproof packaging!

If stocks aren’t your cup of tea, you’ll be glad to know there are now cannabis ETFs. These funds typically include various marijuana-related stocks, offering investors a diversified way to venture into the marijuana industry.

The Marijuana Industry Boasts Immense Potential

As an industry still in its infancy, the marijuana industry boasts immense profitability potential. More states and countries are joining in the revolution, leaving plenty of room for innovation, growth, and profits. Additionally, regulatory frameworks are evolving in favor of the industry, and the stigma once associated with the plant is slowly ebbing away. The result? More opportunities for investment and innovation; so don’t shy away from joining in.

The marijuana industry is flourishing like a well-tended plant, and your investments can potentially bloom. However, it’s not without its complexities. From medical and recreational delights to hands-on and off-investment options, there are choices to be made, each with positives, and risks. So, as you navigate this budding sector, knowledge will always be your greatest asset. The above facts just tip off the iceberg, so, research thoroughly, and consider getting professional advice on your finances and business to ensure your investments flourish in this thriving market.

Filed Under: General Finance

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