How to Survive Being Broke

So you’ve just been laid off. You’re frantic about what to do because you don’t have any savings. Your bills are not suddenly going to disappear. How in the world will you make it until you have a regular income again? Do not fear, because we have seven tips that can help you keep the cash coming in and pay your bills.

The very first thing to do before trying to make more money, is to eliminate all your unnecessary spending. If you have some optional monthly expense that you can do without, cancel it. Cut back on things like eating out, going to the movies, and anything else you normally do that isn’t absolutely essential.

Apply for any kind of work: If you are desperate for funds, one of the most productive things you can do is apply for a job, any job! It doesn’t matter if you’re overqualified. Some income is better than none.

Tell your friends you are looking for work: Let’s be honest. If you have a personal connection to a potential job, you are more likely to land the job than someone without it. Even if your friends don’t know of a full-time position that you are qualified for, they may know of something part-time that can help.

Find freelance work online: If you can write or take photos, you can find work online. Some websites offer talented freelancers the opportunity to make some extra income doing things they enjoy. When searching for freelance work, however, be careful about getting involved with any site that requires you to pay an initial fee. These can be scams to take your money and not deliver results. Look for reviews of the site from people who have used it, to be sure you’re actually going to get what you pay for.

Check the classifieds: You may think of the classifieds as a place to look for a full-time job, but lots of short-term opportunities also exist. You can take a look at both the newspaper as well as the posts on Craigslist in your area, to see if there is something you are qualified to do. Another alternative is to create your own ad announcing the services you offer. Again, beware of people that want your financial information before offering you work.

Sell your belongings: It may be painful, but desperate times call for desperate measures. You can hold a yard sale to get rid of some of the things you don’t really need. If you aren’t in the mood to hold a yard sale, you can try taking your more expensive items to a pawn shop in order to get some quick cash.

Sell your own body products: It’s possible to make a little money by selling plasma, sperm, or eggs. Human plasma is something that exists in your blood that you can be paid for. It’s not a huge amount of money, but it does add up, and it is decent money for sitting still for a few hours. Check with your local Red Cross if you are interested in selling plasma. If you’re a man, you can contact a sperm bank to see if they are seeking donations. If you can make it through the rigorous screening process, then it is possible that you can get paid to donate sperm. If you are a woman, you can donate your eggs to be used in fertility treatments. Of all the options mentioned here, donating eggs is the most lucrative. If you are interested, check with a local fertility center.

Welfare: If you are completely out of options and you simply have no way of making money, welfare may be the way to go. There are many different programs designed to help people who need financial assistance. Don’t let pride keep you from something that can help you get back on your feet. To find out what programs are offered in your area and their requirements, check with your local authorities.

So there you have it, seven great ways to keep some money coming in even in these tough times. Lacking a source of income can be a huge inconvenience, but it is possible to survive until you can land another full-time job.

How to Become a Financial Planner

Financial planners or advisers are professionals who educate people about the necessity and advantages of investing money, and also guide them in making lucrative decisions regarding the same. They analyze an individual’s current salary, lifestyle, priorities in life, and also his goals, and make a plan that would help in reaching the set goal. They help people in insuring their money for emergency purposes. Some people take up the responsibility of money management themselves. However, there are chances that they may make mistakes due to inadequate knowledge and inexperience in this sector, causing them to lose their hard-earned money.

Taking the help of a planner has become quite common in recent years, either because people are too busy, or because they do not want to take a risk of investing their money wrongly. In this age, when people are very busy, they rely on experts to make important decisions regarding their money. This job is, therefore, very hectic, and involves huge responsibilities. Here are certain important things you need to know if you plan to get into this field.

Becoming a Financial Planner

It is not necessary to have a bachelor’s degree to get into this profession. However, it definitely adds points to the work profile and earning potential. It would be beneficial to complete your graduation in the field of finance, economics, mathematics, statistics, business, or law. Studying these subjects would help in understanding issues and intricacies of financial management. Graduating as a Chartered Financial Analyst or a Chartered Financial Consultant would also help. You can also enroll into courses related to estate planning, investments, risk management, and taxes.

To practice as a professional financial adviser, you need to have certification. Those who aspire to be certified, should have a graduate degree, and most importantly, at least three years of experience in the field. The three years of working is when you would receive the actual training for your career. You would be dealing with the practical aspects of the theories you have studied. During this time you would learn how to how to deal with customers. Your main job would be to guide them in planning their finances according to their individual needs. This would also help you in building business relationships with the clients.

Once you complete the experience requirement, you would have to give an exam, that tests your skills. You would also have to undergo an ethical practice and background check. After you are certified, you can either work for an investment company or financial management company, or choose to set up your own business.

The salary varies greatly. Initially, when you start your career, you would enjoy a fixed salary, though it would not be a very huge amount. However, once you become a certified financial planner, your income would depend on commissions, or direct payment for the service you have provided to the client.

Careers in finance have become one of the most sought-after ones in the recent years. Along with educational qualifications and experience, you also need excellent communication skills for this job.