Side Hustles

Posted 1 CommentPosted in Budgeting, Finances

So, you want to make some more money and work from home?  Well, there are many people who will try to sell you different ways to make money online without working.  They sell this dream of passive income, making millions of dollars online.  While it IS possible to make a good amount of money online, it is also important to understand that it takes WORK (hence the term HUSTLE).  There are many different “side hustles” out there, so, choose ones that work.  Here are a few “side hustles” that I have done… some worked, others not so much:

I designed some T-shirts to sell online with Teespring… that didn’t really work out.  However, it cost me nothing to make and what the heck, if you want one, check them out here https://teespring.com/lifting-is-fun or https://teespring.com/plant-powered-fitness (They are vegetarian and fitness based)  I opened a Shopify Store and it was actually doing quite well.  I was making an additional $1,500-$2,500 a month, but I couldn’t keep up with the orders and inventory due to my day job (thanks Navy).  I tried to show my wife how to do it, but she didn’t have the time either (thanks homeschooling).  It’s all good though.

Now, I focus on investing my money in my retirement accounts and my other portfolios to have my money make more money.  I do enjoy watching it grow and enjoy collecting my Real Estate Investment Trust (REIT) dividends.  I am hoping that one day this blog will generate another small income that I will use towards other investments.

Other “side hustles” that word is affiliate marketing and even writing online.  It doesn’t necessarily have to be a blog like this.  There are other websites you can write for or even write blog posts for blogs owned by someone else.  Some bloggers will pay for someone to write an article for them.  Writing To Wealth is one that I am looking into now.  You can sign up here: http://bit.ly/2L4DGoZ and start browsing 1,000s of writing jobs.  If you can dedicate one hour per week, you can make some decent money.  Fivrr is a great way to do some work online by offering “gigs” for sale.  You can check them out here http://bit.ly/2NBPUrf and make an account.

Another “side hustle” is one I just did above.  That’s called affiliate marketing.  With affiliate marketing, you basically promote someone else’s already made product and get a commission when someone makes a purchase off of the link you provided.  It can be time consuming depending on how much you want to make, however, it’s a method that works.

If you are just looking for another job either from home or at a physical location, it is important that your resume is strong.  Having a LinkedIn profile is a great start and can even generate a free resume for you to use as a start.  If you want to make that resume pop to get more calls for interview, you need to have a good cover page.  Here is another affiliate link you can check out that can help you with this cover page.  http://bit.ly/2JgMshx

There are so many more “side hustles” out there that are legit and can make you some decent money.  It’s important that you put forth the effort to make those “side hustles” work.  That means you need to work.  If something seems too good to be true, it probably is…  I hope this post was helpful and that you were able to get a little something to take away from this.  Thank you for continuing on this journey with me.

Mike Cavaggioni
Mike Cavaggioni

Mike Cavaggioni is an Active Duty Officer in the U.S. Navy, REALTOR-ASSOCIATE®, Real Estate Investor, and Finance Coach located in Honolulu, HI. He is the founder of Average Joe Finances and host of the Average Joe Finances Podcast. Mike owns real estate in Hawaii and Virginia and is building a community for people to come together to learn and build their wealth.

Budgeting

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So here we are again, continuing the journey… Budgeting… for some reason, the word budget can strike fear into any man, woman, and family.  Are budgets scary?  Absolutely not!  They can certainly be intimidating and downright overwhelming, however, a proper budget is the first step to get you in the right place financially.  I’m not so strict with my budget and always give myself some wiggle room.  I do sometimes lack discipline when it comes to my budget…  Some people cannot do that in their current situation, but that’s ok.  Those who cannot afford to have wiggle room, need to have a tad bit more discipline.

So being in the military, I get paid twice a month.  I split my budget into two paychecks and sort my bills out based on that.  My mortgage payment can be a bit overwhelming, but I split my payment up.  I pay half on the first paycheck and the second half on the second paycheck.  I like to split the bills to leave room with each paycheck.

If you are in a place where you can put money into savings, treat your savings as a bill.  One of the recent changes I have made with my budget is adding in a joint mutual funds account that I treat as a bill.  I have to pay all of my bills as well as pay my savings account and joint account before I give myself any money to “splurge” with.  Treating your savings and investments as a bill is IMPORTANT!  You are able to give yourself a mental “check in the box” when you pay your savings bill.

Now, if you have debt such as credit cards, loans (besides car payments and mortgages), or owe money elsewhere, pay off debt first before you start to save.  I like to refer to this as consumer debt.  I recommend having at least $1,000 in your savings before you start “snowballing” on your consumer debt. 

What is snowballing?  Glad you asked.  When you snowball your debt, you are paying off one bill at a time.  You will make your minimum payments to all of your bills, and then you will take your leftover funds (whatever you have left after paying all bills) and dump it into the credit card or loan with the highest interest rate.  You rinse and repeat these steps until you pay off all of your consumer debt is paid.  Once all of that is paid, you can decide if you want to pay off the car note early or start saving.  Now, if you have a low interest rate on your car, just continue to make payments and start saving your money.

Once you save up to at lease three months of living expenses (not pay), your emergency funds will be funded.  It is important to have an account for emergencies.  After you have that put together, it’s time to start saving your longevity.  This is when you start building your wealth and set yourself up for your future retirement.

This is the basic start to getting your financial future in order.

Mike Cavaggioni
Mike Cavaggioni

Mike Cavaggioni is an Active Duty Officer in the U.S. Navy, REALTOR-ASSOCIATE®, Real Estate Investor, and Finance Coach located in Honolulu, HI. He is the founder of Average Joe Finances and host of the Average Joe Finances Podcast. Mike owns real estate in Hawaii and Virginia and is building a community for people to come together to learn and build their wealth.

The Beginning…

Posted Leave a commentPosted in Finances, General

Welcome to Average Joe Finances.  This blog will be all about budgeting and investing for your everyday “Average Joe.”  This is something that I have recently become very passionate about.  I always thought saving money and investing was too difficult to comprehend.  Trust me, it still is…  But there are some simple ways for your everyday average person to save, invest, be comfortable in life, and possibly even get rich…

This blog is not the place to come if you think you can get rich quick.  That is not what this is about.   What I want to explore with all of you are the different ways you can utilize your current income better, make your income stream higher, budget to save more, and investing your money for growth. 

I am hoping that I can share my experiences, but successes as well as failures to help you not make the mistakes I made and to make good financial decisions.  I am not certified as a financial advisor or anything like that, however, it may be something I do when I retire from my first career.

Here is a little about me.  I am 35 years old and have served in the military for almost 17 years.  I enlisted in the Navy at the lowest paygrade back in 2002.  I have worked really hard to rise through the ranks and am currently an officer.  I am not trying to brag or anything, I am sharing my successes as well as my failures… I am planning to retire from the Navy in 5 years when I am 40 years old.  I will most likely start another career until I am 60 when I plan to permanently retire.  Maybe I will retire before that, but maybe not.  I tend to plan my life five years at a time (and will talk about this in future posts).  I am now in a place where retirement from my first career is part of my five year plan.  It’s scary!  I just started using a financial advisor because I wasn’t happy with where I am at financially just yet.  After sitting down with my advisor, I have come to the realization that becoming a millionaire by the time I retire is not only a possibility, but IT WILL happen.  It made me think… I just really starting being aggressive with making my money work for me at the age of 35, what if I would have started 10, or even 15 years ago?  Well, what ifs don’t matter much when the time has already passed… However, there is some “what ifs” that are worth talking about…

What are these “what ifs” you ask?  Great, I’ll tell you.  The “what if” I am referring to is…  What if this blog reaches out to someone who is in that age range?  What if this blog reaches out to someone in my age range and helps them realize it’s not too late?  What if this blog reaches out to someone who is a bit older, but helps them even slightly live a more comfortable life in retirement?  That is what I want this blog to do.

Again, I am not a certified financial advisor or planner or anything of the sort.  I have taken a few finance classes and I have my own financial advisor that helps me with some of my decisions.  I try not to take what my advisor gives me as gospel and I try to do my own research.  I am just your everyday “Average Joe” that is trying to make a better life for himself and leave a legacy behind for his children.

I would love feedback from those of you who will follow this blog and would love to share some of your stories with the community as well.  I am looking forward to hopefully helping some of you take control of your finances and set yourself up for a comfortable future.

Mike Cavaggioni
Mike Cavaggioni

Mike Cavaggioni is an Active Duty Officer in the U.S. Navy, REALTOR-ASSOCIATE®, Real Estate Investor, and Finance Coach located in Honolulu, HI. He is the founder of Average Joe Finances and host of the Average Joe Finances Podcast. Mike owns real estate in Hawaii and Virginia and is building a community for people to come together to learn and build their wealth.