Well folks, my less than pristine house is now a plethora of piles. That's right, it's garage sale time! This week, instead of visiting other folk's garage sales, I'll be holding one of my own. Every year my homeowners group advertises two large community sales, one in the spring and one in the fall. Although it's legal to have sales at other times, I always have mine now.
In the interest of sharing yard sale tips both for the buyer and the seller, I thought I would share my techniques for holding a sale. Everyone location has different rules and guidelines, but there are a few tried and true tips that will help you make more money - and let you be less than totally frazzled at the end of the day.
First let me gently say that as a yard sale shopper, there is nothing more frustrating than someone who has two sheets or beach blankets on their yard with a few things strewn around. If that is all you have, do consider selling the items on craigslist, donating the items, or sharing with a friend, neighbor or relative. As a shopper, those are the sales I drive by. And frankly, unless you have Faberge eggs or electronics on those beach towels, your time/money/effort continuum will not be what you would wish.
Collecting the yard sale stuff. I've been going through the house slowly but surely, and have quite a few items to list. In our case, each time we went through a room, we neatly put those yard sale items in a location in that room, and made a working list. Some folks may choose to put everything in their garage. In my case, I have a back (alley style) garage and my sale will be out on the front yard. I don't want the extra labor of moving things twice. Also, I like the idea of being able to double check and see if I have any second thoughts (rare, but it happens) Yesterday my son helped me go through the kitchen and one other room, eliminating all the extras and duplicates. We did the garage last week. (note, if you are having a true "garage sale", find away to indicate what is NOT for sale, and/or put a table or barrier to the garage before people come. Otherwise you may get an offer on the extension cord hanging on the wall).
It's amazing how much stuff one can eliminate, even when one is not into the simplicity movement. In addition to my downsizing, we have acquired some additional items. My son now has a "chore busters" business and although he's only had a few clients, almost all of them have wanted him to remove perfectly good items. Those items now live in our garage, and will visit the dump if they are still let after the yard sale.
When it comes to pricing, every year I have the same debate with myself. Price everything, or not. Every year I am somewhere in the middle. As a shopper, I am not put off by having to ask a price. Generally we price very small items (often bundled in groups), and leave the big ones for negotiation. In our case, with the exception of a few collectibles and more pricey items, nothing will come back into the house. That affects our pricing strategy. Also, I am unwilling to go crazy with change. To that end, everything is a quarter, or a multiple of a quarter. If it's not worth a quarter then it is free or bundled with something else. As for how much, the old standard used to be that a pristine used item went for twenty five per cent of new. That no longer holds. In my case my goal is to make money. It is also not to have to haul items away or take them back into the house. I've very flexible, and tend to accept reasonable offers.
My sale is very loosely organized in terms of how items are displayed. Really, this area depends on you. In my case, I put like items in the same general area. I'm not obsessive about this. One table will have the two sets of glasses, the set of dishes, various kitchen stuff, all the tablecloths and other items I am letting go. The one place I do try to organize a little more is the smaller items. Ziploc bags are my friend. Jewelry pieces, small craft and sewing items, even groups of old DVDs go into bags to be sold as lots.
I always make sure I am (fairly) organized and comfortable. In my world, this means I have taken the most comfortable chair I can get on the front walk outside. I have organized myself in such a way I am not in the full sun. I have lots of change-in a designated container. Most importantly, I have at least one helper, so I can take a bathroom break, or show someone the inside dining table. Too many people turn the sale into a social event (not a bad thing, just not my thing).
Because I really want to make sure I get a good crowd, I always create my own listing listing on Craigslist as well as the community listing. One thing I have learned through yard-saleing is that people (especially us boomers) want to have a general idea of what is for sale. When I put my listing up, I am always pretty specific. My current add lists the hours and then has three or four categories and some of the items I will have for sale. In my case this includes kitchen and household items, home improvement items and tools, three boxes of scrapbook supplies, fabric, a sewing machine, and outdoor furniture, and books (and more, my yard will be full). While I cannot list everything, I try to give a good idea. A young mom scanning my ad would know that I don't have baby toys, car seats or other items, for example. Although, a fellow has already called and asked if my WWII memorabilia included weapons (not!).
Because I have many crafting items and a bunch of collectibles Department 56, world war II items, cookbooks from 1900), I also created two separate listing, one under collectibles and one under arts and crafts. This way people who are not traditional yard sale visitors can know about what I have that they may like and people who live near me looking for sewing deals may stop by or try to negotiate a sale.
Finally, my hours. WhenI place my own listing, I put my hours. These hours are driven by the neighborhood hours, but not in stone. I always say that I will assume early birds are there to work. A friend's add says simply that every price is doubled before the hour stated. Whatever your method is, it's wise to somehow indicate that people should wait until the specified hour to arrive. On rare occasions you will have twenty friends or family members helping with your sale. In that case you may wish to sell things as you put them out. For the rest of us, it's very difficult to have people walking and looking while we're still trying to get things out (and drink our second cup of caffeine and wake up as well).
There you have it-the quick down and dirty on how I throw my annual garage sale. Last year I made three hundred dollars per day. I don't expect to do quite that well this year, but a good time should be had by all, and money will definitely be made. Coming soon-pictures of the process!
Disclaimer.........some of this advise will not apply to shared sales. For example, in that case you will want to price everything, probably giving each family a color code and removing it as the item sells. The same is true of families where kids sell their own stuff-you either need to color code or give said kid his or her own money box, depending on age.
Showing posts with label income streams. Show all posts
Showing posts with label income streams. Show all posts
Tuesday, April 17, 2012
Saturday, March 24, 2012
Frugal Retirement-Buying and Selling (for Fun and Profit)
Note: I ask your patience while I play with this blog a bit for the next day or so. I'm trying to insert a little "spring" into the mix. Bear with me, and if you're looking at jelly beans, fear not, this too shall pass.
Occasionally I write about, or refer to my various income streams. These "streams" are the way I bring in additional income in order to supplement my pension and social security. All of my income streams have been established in the past year or so (although I have been a quilter for awhile, it's just recently that I have tried to pump up the volume on this hobby).
One of the ways I try to raise money is buying and reselling, or what one guy called retail arbitrage. Since I've had a questions off and on about how I do this and the effort it takes, I thought I would share a little bit. First, let me say that I am not an expert on reselling, not even close. There are bloggers out there who sell full time, and I am filled with admiration. That is not my goal, and expect its not yours either. Im looking at a part time thing that I can do on my own time. I have no interest in opening a store, spending a couple grand at a storage auction or listing items on eBay or elsewhere all day every day. My goal is to bring in a some money without too much overhead and have some fun at the same time. This is an income stream that you can fit into your available time, and can even take with you. Many a road trip has included the local quilt store, a used bookstore, and a thrift shop as part of the entertainment.
I'm still an amateur who learns as I go, however, I have learned a great deal (especially from other booksellers). For those who are wondering if this is right for them, here are my thoughts and suggestions on the "finding things" end in no particular order. Later I'll talk about the time and effort (generally it's up to you) required to sell stuff regularly on line. As many thrift shoppers will tell you, most of my suggestions apply to thrift shopping in general, even if it's only to add to your own collection.
When it comes to buying and selling:
I'll talk more about time later. In general though, I will say this-how much time you spend is how much time you want to spend. Because my son likes me to go book shopping on occasion, I assist him and hit the other parts of the thrift shop at the same time. During the week I allow one day (half a day at the most) for photography and one half day (or less) for listing. I know I'm small potatoes, and an Ebay expert reading this will probably say it's better to list throughout the week rather than dump a bunch of listings at one time. But I have a real life. I'm still trying to go to school, quilt 15 hours a week, garden and work on the house, travel, volunteer and do the other things in semi retired life. I also occasionally visit Canton Trade Days, mainly to see what's selling and look around.
This week I've sold four vintage items, one small quilted item, and taken on a special order. Like I say, I'm a beginner. But my overhead is low, I'm having fun, and I can take the work wherever I go. And if I'm busy that week and have no time? Well then I mail something if it sells and leave it at that.
Occasionally I write about, or refer to my various income streams. These "streams" are the way I bring in additional income in order to supplement my pension and social security. All of my income streams have been established in the past year or so (although I have been a quilter for awhile, it's just recently that I have tried to pump up the volume on this hobby).
One of the ways I try to raise money is buying and reselling, or what one guy called retail arbitrage. Since I've had a questions off and on about how I do this and the effort it takes, I thought I would share a little bit. First, let me say that I am not an expert on reselling, not even close. There are bloggers out there who sell full time, and I am filled with admiration. That is not my goal, and expect its not yours either. Im looking at a part time thing that I can do on my own time. I have no interest in opening a store, spending a couple grand at a storage auction or listing items on eBay or elsewhere all day every day. My goal is to bring in a some money without too much overhead and have some fun at the same time. This is an income stream that you can fit into your available time, and can even take with you. Many a road trip has included the local quilt store, a used bookstore, and a thrift shop as part of the entertainment.
My first adventure in reselling was when I decided to sell my plethora of books and a few other excess household items. I lived in Germany for seven years, with a teeny tiny bookstore and a teeny tiny English library. The box from Amazon came into the mail room every other week. Not only that, but our English TV was British. It was excellent, but we were unable to watch The West Wing or 24 unless we ordered the series. I also had some household items that were above yard sale quality that I wanted to list. As we became more adept at knowing what sold, we began picking up other items to sell. Eventually my son developed a very part time book selling business, and I moved into collectibles.
I'm still an amateur who learns as I go, however, I have learned a great deal (especially from other booksellers). For those who are wondering if this is right for them, here are my thoughts and suggestions on the "finding things" end in no particular order. Later I'll talk about the time and effort (generally it's up to you) required to sell stuff regularly on line. As many thrift shoppers will tell you, most of my suggestions apply to thrift shopping in general, even if it's only to add to your own collection.
When it comes to buying and selling:
- Where you get the "stuff" depends on your location, I expect. I get most of my things at yard sales and estate sales. Not the professionally run estate sales, but the "I'm helping dad downsize to move to assisted" living type of estate sale. Of the things listed in my vintage shop on the side, some came from a guy getting rid of one of his two storage units (two storage units!!). This includes the cup and the models. Some came from a guy helping his dad weed out his collections ( the cookbooks), and some came from various yard sales. I live in Texas and we've had yard sales for over a month. In places with different weather, that stuff may go to a thrift shop. We don't have swap meets or flea markets where I am per se, although we do have trade days.
- Ya gotta love the hunt. I LIKE searching through stuff at yard sales and estate sales and digging into piles of books at library sales and elsewhere. If the thought of wandering a flea market, estate sale or yard sale (or even thrift shop) turns you off, then stick to selling from your family or friends. Another alternative would be to offer to sell for others and take a bite.
- Buy what you know. When my son and I go to book sales, we separate. He looks first at military history books. I look at cooking and craft books. Then if we have time we move to areas we like but know less about. Some areas are financially sensible but since we know little about them, we avoid that area. This includes medical books, children's books (even collectibles) teachers book, and so on. Although we check books for saleability electronically, we have less rejects with this method. If we're wrong, the risk is low. I'm liable to never complain about having an extra cookbook, and my son has shelves full of war and sports books. If he has to keep one and call it his, that's okay. Because I already have a teacup collection, I have a better sense when I scan a yard sale if that china over on the far corner is worth looking at. If you like something, learn about it. Bob over at Satisfying Retirement, for example, probably has knowledge of albums and music memorabilia. Much as I want to buy this kind of stuff, I know it would be a bad idea.
- Take small risks, unless it's something you already own. I'm talking both in term of costs and size. Yes, sometimes the more costly sale brings the bigger reward. In addition to the cost though, larger orders are more difficult to ship. Breakable items are more difficult to ship. And if I buy a three dollar model airplane kit from 1950 (new in shrink wrap) and it doesn't sell, I have not broken the bank.
- Be prepared to grab that item when you see it-no matter the season. This is true whether you are buying for yourself or reselling. If you see a Department 56 Village piece or a real German nutcracker-grab it! Put it away. I buy ugly Christmas sweaters all year for a buck or two-who knew that the month before Christmas they sell four upwards of twenty dollars each!
- Spend time Online looking at values and auctions. Or, if you have flea markets and tag sales and trade days near you, spend time wander that venue. Start with a couple things you know and like. go to EBay and check the prices. Not the listed price necessarily. Look also at the bids. The fact that someone has a collectible plate at a buy it now price in no way means anyone will purchase it for that amount.
This week I've sold four vintage items, one small quilted item, and taken on a special order. Like I say, I'm a beginner. But my overhead is low, I'm having fun, and I can take the work wherever I go. And if I'm busy that week and have no time? Well then I mail something if it sells and leave it at that.
Friday, March 2, 2012
Selling Your Stuff-The Ups, Downs, Why's and Where's
Previously, I've talked about how I sell stuff. I consider selling stuff an income stream, and sell from a variety of sources. I sell my own stuff as part of my slow downsizing. I buy and resell other people's stuff (from yard sales, library book sales, thrift stores and flea markets). Some times I refurbish these items, sometimes I sell them as is. Finally, I sell stuff I have made. Admittedly, the last category is a different thing entirely, and a separate income stream.
As I've explored ways to sell my own used and bought elsewhere stuff, I've ended up using four main resources. Each of these resources has positives and negatives, depending on what I'm selling. Since so many bloggers seem to be sharing their downsizing stories, I though I would share what has worked and not worked for me.
Craigslist: Let me say here that I think Craigslist gets a bad rap. Most of the safety issues have to do with basic common sense. The three major positives with Craigslist are that it's local, it's free, and you can refresh listings regularly to put your item at the top of the proverbial heap. The downsides? It's local-meaning in theory the audience is not as wide (although you can look at craigslist nationwide and go from there). Because you don't "make a bid" or "buy", someone may express interest and not follow up. If you don't want someone coming to your home, you do have to go to an agreed meeting place. Craigslist is my first go to for many items. In the past year I have sold my collection of department 56 Valentines and Easter Houses, excess Longaberger baskets, Vera Bradley purses, quilting fabric, a wooden sewing box made in Scandinavia and other things on Craig's with much success. I paid no shipping cost (for boxes) or listing fees, making this the cheapest choice. My experience is that one needs good descriptions and good photos here as elsewhere. I don't sell things that are important to me, or that my family or I will use. Although I eliminated two villages, I have a huge Christmas village and add to it yearly-I've even started a city village for my son.
Amazon: What can I say folks, Amazon is not just for books! While it's true my son has an Amazon store and sells mainly used and collectible books, Amazon is much more. Put simply, if you can find an item on Amazon, or if the item you want to sell has a UPC or ISBN, you can sell that item. In addition to books we have sold sewing items, camera cords, even a net book (bought with financial aid-lost the receipt, got more than I paid on amazon). Right now I have fabric, a paper cutter, an unused heating pad and even a small safe listed on Amazon. It's easy to become a seller on Amazon, it's easy to list things to sell. Finally, you don't have to pay for shipping-or rather you don't have to pay for shipping and then be reimbursed. Put simply, you print your shipping label through Amazon, and no money leaves your bank account. Amazon collects costs and shipping, and then subtracts the shipping when you print. It also makes bookkeeping easier as amazon takes fees out as you sell the books (unlike EBay or Etsy where you pay a monthly bill). I really cannot say enough about selling on Amazon.com.
Etsy: Folks who know about Etsy probably think of it as a handmade market place, and rightly so. But Etsy is more. They have many vintage sellers and buyers as well, and this would be my first go to place for small older items. Up to this point I have only sold classic sixties sewing patterns on Etsy, but plan to expand to include old Fisher Price, vintage china tea cups and vintage linens. The downside of Etsy is obviously that you have to actually take the time to create a "shop" with departments, a banner and policies. If I had small items to sell, I would try Craigslist and then move to Etsy if they were vintage or collectible
EBay: EBay is the elephant in the room, but it is always my last place to sell. Yes, I read quite a few blogs about people selling on eBay. As someone who looks for things to resell, some of those items I find end up on eBay. Why is eBay my least favorite place? Well, their fee structure favors large sellers. Their feedback structure favors buyers, leaving sellers little recourse. And frankly, some things have simply flooded the market. This isn't to say I'll never sell on eBay. I'll just say that for me, it's not the first choice, and leave it at that. I've sold some vintage plane models and the like and will probably sell my collection of ugly Christmas sweaters next year. Ebay, however, is not the only kid in town any more.
What I haven't talked about here are local options. I do have one yard sale annually. Frankly, I'm unwilling to clog up my garage with boxes of things, to bag them, price them, and spend a day or two in the sun dealing with money. I adore yard sales and get much of my stuff to resell from other yard salers. That said, I prefer to sell stuff as I come across it, or as I elminate it from a room. These means I'm listing a couple times a week as I come across items. Some things get saved for the proper season (I wont try and sell my extra set of Christmas dishes until the fall). Otherwise, I want the stuff gone and the cash in hand now. For the same reason, I don't do flea markets or swap meets.
I also have not talked about donations. Donating items are a good way to declutter, and in fact this household regularly donates both used items (mainly clothing) and handmade items (quilts, baby blankets and so on). For me at least, the financial aspects of bringing in money from my excess is more advantageous than the tax benefits.
Finally, I haven't talked about where I get the stuff that I resell, and how I go about it. I figure that's a blog entry for another day. Meanwhile, if you have items ready to leave your home and would like to get some cash, I encourage you to experiment with Etsy, Amazon, and Craigslist as a way to get stuff out and money in.
As I've explored ways to sell my own used and bought elsewhere stuff, I've ended up using four main resources. Each of these resources has positives and negatives, depending on what I'm selling. Since so many bloggers seem to be sharing their downsizing stories, I though I would share what has worked and not worked for me.
Craigslist: Let me say here that I think Craigslist gets a bad rap. Most of the safety issues have to do with basic common sense. The three major positives with Craigslist are that it's local, it's free, and you can refresh listings regularly to put your item at the top of the proverbial heap. The downsides? It's local-meaning in theory the audience is not as wide (although you can look at craigslist nationwide and go from there). Because you don't "make a bid" or "buy", someone may express interest and not follow up. If you don't want someone coming to your home, you do have to go to an agreed meeting place. Craigslist is my first go to for many items. In the past year I have sold my collection of department 56 Valentines and Easter Houses, excess Longaberger baskets, Vera Bradley purses, quilting fabric, a wooden sewing box made in Scandinavia and other things on Craig's with much success. I paid no shipping cost (for boxes) or listing fees, making this the cheapest choice. My experience is that one needs good descriptions and good photos here as elsewhere. I don't sell things that are important to me, or that my family or I will use. Although I eliminated two villages, I have a huge Christmas village and add to it yearly-I've even started a city village for my son.
Amazon: What can I say folks, Amazon is not just for books! While it's true my son has an Amazon store and sells mainly used and collectible books, Amazon is much more. Put simply, if you can find an item on Amazon, or if the item you want to sell has a UPC or ISBN, you can sell that item. In addition to books we have sold sewing items, camera cords, even a net book (bought with financial aid-lost the receipt, got more than I paid on amazon). Right now I have fabric, a paper cutter, an unused heating pad and even a small safe listed on Amazon. It's easy to become a seller on Amazon, it's easy to list things to sell. Finally, you don't have to pay for shipping-or rather you don't have to pay for shipping and then be reimbursed. Put simply, you print your shipping label through Amazon, and no money leaves your bank account. Amazon collects costs and shipping, and then subtracts the shipping when you print. It also makes bookkeeping easier as amazon takes fees out as you sell the books (unlike EBay or Etsy where you pay a monthly bill). I really cannot say enough about selling on Amazon.com.
Etsy: Folks who know about Etsy probably think of it as a handmade market place, and rightly so. But Etsy is more. They have many vintage sellers and buyers as well, and this would be my first go to place for small older items. Up to this point I have only sold classic sixties sewing patterns on Etsy, but plan to expand to include old Fisher Price, vintage china tea cups and vintage linens. The downside of Etsy is obviously that you have to actually take the time to create a "shop" with departments, a banner and policies. If I had small items to sell, I would try Craigslist and then move to Etsy if they were vintage or collectible
EBay: EBay is the elephant in the room, but it is always my last place to sell. Yes, I read quite a few blogs about people selling on eBay. As someone who looks for things to resell, some of those items I find end up on eBay. Why is eBay my least favorite place? Well, their fee structure favors large sellers. Their feedback structure favors buyers, leaving sellers little recourse. And frankly, some things have simply flooded the market. This isn't to say I'll never sell on eBay. I'll just say that for me, it's not the first choice, and leave it at that. I've sold some vintage plane models and the like and will probably sell my collection of ugly Christmas sweaters next year. Ebay, however, is not the only kid in town any more.
What I haven't talked about here are local options. I do have one yard sale annually. Frankly, I'm unwilling to clog up my garage with boxes of things, to bag them, price them, and spend a day or two in the sun dealing with money. I adore yard sales and get much of my stuff to resell from other yard salers. That said, I prefer to sell stuff as I come across it, or as I elminate it from a room. These means I'm listing a couple times a week as I come across items. Some things get saved for the proper season (I wont try and sell my extra set of Christmas dishes until the fall). Otherwise, I want the stuff gone and the cash in hand now. For the same reason, I don't do flea markets or swap meets.
I also have not talked about donations. Donating items are a good way to declutter, and in fact this household regularly donates both used items (mainly clothing) and handmade items (quilts, baby blankets and so on). For me at least, the financial aspects of bringing in money from my excess is more advantageous than the tax benefits.
Finally, I haven't talked about where I get the stuff that I resell, and how I go about it. I figure that's a blog entry for another day. Meanwhile, if you have items ready to leave your home and would like to get some cash, I encourage you to experiment with Etsy, Amazon, and Craigslist as a way to get stuff out and money in.
Sunday, December 18, 2011
Retirement Income-Why Didn't I Think Of That
I"m still working on that 2012 budget. A budget is a living thing in the best of times, and with the changes that have gone on and are still going on around me (financially and otherwise), I'm taking a couple days to let everything sit. Then I will go back and look things over with a fresh view-hopefully. I've already looked at some places that can reasonably be cut, which I will share later. the other side of that double edged sword is that I will need to bring in liquid income.
I should probably say here that as with many things in life, my needing additional income is on some level a choice. I have chosen to stay in my current home, knowing that I will have a mortgage payment for quite some time. I could have downsized or I could trim expenses more. Eventually I will do both. For the moment however, I have chosen to remain in this 2300 square foot home. I love the yard, I love the covered patio. My children are both single and one is a not yet employed college graduate. Both still need a place to come home to, and I appreciate that. I figure I should share these things so that folks reading this don't automatically say to themselves "oh, no!!". I've chosen regular travel and a home with a mortgage as part of my lifestyle. Were I to downsize, travel less, or make other changes, life would certainly be different.
I've written about income streams, especially my quilting, before. This income stream is perfect for me in that it allows me to mainly be at home (craft fairs aside). Quilting and sewing were hobbies, yet I find that I don't particularly mind being "forced" to do them on a regular basis. Supplies are my only overhead, meaning I have no reason to add commuting costs or a studio to my end costs.
I was really having a problem getting customers and make any major sales. Although I am a member of the Etsy online selling group, that market tends to be flooded with some kinds of fabric art. I tend to use it as a reference, a place to go so that people can see what I make. I would really like to do craft fairs in the spring and summer, but because of school was unable to create in the large numbers needed for a fair or market. Word of mouth can be nice advertising for a home business, but I needed a bigger telephone chain (for lack of a better description).
Recently I created 25 sets of six quilted coasters each for my sister in law. The coasters were made for SIL to give to her coworkers and the folks working under her in the field. When I delivered them, she put a bug in my ear, one which I took to the next level. She casually mentioned that she, as well as my two nieces, had been speaking amongst themselves. They thought it would be a wonderful idea if I went to a sorority at SMU, which is located not very far away. The idea was that I would offer to make a sample T-shirt quilt out of sorority shirts, and embroider the Greek letters in the border. I would do that for free. I would then use the quilt (through pictures and by borrowing said quilt) as a marketing tool during rush week and when girls join. It seems mothers are willing to get their daughters anything related to this particular social group during that time.
This is a great idea for me on many levels. Most of the cost in creating said marketing tool is labor (the shirts are the major portion of the quilt). Completing the project gives me a small sample and a large quilt, as well as the recommendation of the happy recipient. Tto get the same amount of advertising free would be much more costly-and frankly, my advertising budget is...zero. When I needed fabric, I am using what I already own. This is not free, obviously, it is inventory. But that's not the same as immediate out of pocket costs. I love this idea, and probably would not have thought of it myself-at least not for quite awhile. Next week, I'll be on vacation, visiting family. Cutting up these shirts will be easy while watching TV, visiting family, or when we're playing Trivial Pursuit and it's not my turn.
Every so often I have what I call, "why didn't I think of that" moments. This time, I'm every so glad the person who DID think of that is someone close to me, and that they told me first.
I should probably say here that as with many things in life, my needing additional income is on some level a choice. I have chosen to stay in my current home, knowing that I will have a mortgage payment for quite some time. I could have downsized or I could trim expenses more. Eventually I will do both. For the moment however, I have chosen to remain in this 2300 square foot home. I love the yard, I love the covered patio. My children are both single and one is a not yet employed college graduate. Both still need a place to come home to, and I appreciate that. I figure I should share these things so that folks reading this don't automatically say to themselves "oh, no!!". I've chosen regular travel and a home with a mortgage as part of my lifestyle. Were I to downsize, travel less, or make other changes, life would certainly be different.
I've written about income streams, especially my quilting, before. This income stream is perfect for me in that it allows me to mainly be at home (craft fairs aside). Quilting and sewing were hobbies, yet I find that I don't particularly mind being "forced" to do them on a regular basis. Supplies are my only overhead, meaning I have no reason to add commuting costs or a studio to my end costs.
I was really having a problem getting customers and make any major sales. Although I am a member of the Etsy online selling group, that market tends to be flooded with some kinds of fabric art. I tend to use it as a reference, a place to go so that people can see what I make. I would really like to do craft fairs in the spring and summer, but because of school was unable to create in the large numbers needed for a fair or market. Word of mouth can be nice advertising for a home business, but I needed a bigger telephone chain (for lack of a better description).
This is a great idea for me on many levels. Most of the cost in creating said marketing tool is labor (the shirts are the major portion of the quilt). Completing the project gives me a small sample and a large quilt, as well as the recommendation of the happy recipient. Tto get the same amount of advertising free would be much more costly-and frankly, my advertising budget is...zero. When I needed fabric, I am using what I already own. This is not free, obviously, it is inventory. But that's not the same as immediate out of pocket costs. I love this idea, and probably would not have thought of it myself-at least not for quite awhile. Next week, I'll be on vacation, visiting family. Cutting up these shirts will be easy while watching TV, visiting family, or when we're playing Trivial Pursuit and it's not my turn.
Every so often I have what I call, "why didn't I think of that" moments. This time, I'm every so glad the person who DID think of that is someone close to me, and that they told me first.
Monday, November 21, 2011
My Retirement Income Streams: Sucesses and Failures
Life is full of ups and downs. When I decided to accept the fact that I was probably permanently retired (like it or not), I knew that I would have to create some income somewhere. I wanted to both rebuild savings where there was (is, really) none. I also wanted to increase my monthly income a bit to include travel and other expenses. My goal was to do that by creating various income streams. I figured that a few small streams were better than putting all my eggs in one proverbial business basket. That has only been partially true. You win some and you lose some.
My first idea was to turn my quilting hobby into a business. I wrote here, about my experiences in this area. There have certainly been challenges. Growth has been slower than I would like, primarily because I need more outlets. In other words, I need to stop relying on Etsy and get my own web page and look at spring craft fairs. On the other hand, there have been obvious successes. Someone hired me to make twenty five sets of quilted potholders to give to all her employees. Another person saw my quilts and ordered a custom item. I believe that by learning to market this business to the proper audience it will succeed. I've found that I still enjoy quilting "for me", when I have the time. Quilting fits into my lifestyle in that it's a primarily at home job that I can do on my previously mentioned "no schedule" schedule.
My second idea, buying and "reselling" has not taken off the ground, in the truest sense. Again, it has been a learning experience. I've needed to learn where to sell (I'm trying to use EBay as a last resort), what sells, and for how much. I also need to be much braver about taking buying risks. I recently bought five boxes of vintage sewing patterns for ten dollars. I have to take risks like this-the worse that can happen is I resell at a yard sale. I still keep this business in my back pocket, for similar reasons to the quilting business above. I like treasure hunting at thrifts and yard sales. It's a business mainly done at home, on my own time and on my own terms.
My last idea was to start a errand/concierge business. The business that took the most start up effort, in terms of time and money, is the one that has been least successful. I'm sure this falls under the law of reverse return, or something. Why?? Partially because I let it die. Running an errand service required leaving the house (dressed in a certain manner) on a regular basis. It often involved shopping which I do not love (unless it's at thrift stores and flea markets). My phone had to be on all the time, and in order to be successful, I had to go to Chamber of Commerce events and do "marketing". That, put simply, is not me. Add to that fact the current economy issues, and there you are. These days people wrap their own gifts instead of paying others. They can't afford to have someone pick up their prescriptions and dry cleaning for them. Money and time down the drain, but I'm much happier with the business off my back.
The end result is that money has not been tricking in quite as fast or as often as I would have liked. On the other hand, the future looks good. The two growing businesses are those that are flexible and work around my lifestyle. Neither specifically require a large investment, business insurance or other expenses (quilting requires fabric, but I have piles and that is built into item cost, before profit). I can do both wherever I go, when I feel like it. And neither of them will ever (thankfully) be a real job.
Work till I'm seventy? Not me? Life is just too much fun. So I'll continue to trim and downsize where it doesn't hurt. I'll also add funds through what one blogger called the "side hustle" and in the end, life is good. As always.
My second idea, buying and "reselling" has not taken off the ground, in the truest sense. Again, it has been a learning experience. I've needed to learn where to sell (I'm trying to use EBay as a last resort), what sells, and for how much. I also need to be much braver about taking buying risks. I recently bought five boxes of vintage sewing patterns for ten dollars. I have to take risks like this-the worse that can happen is I resell at a yard sale. I still keep this business in my back pocket, for similar reasons to the quilting business above. I like treasure hunting at thrifts and yard sales. It's a business mainly done at home, on my own time and on my own terms.
My last idea was to start a errand/concierge business. The business that took the most start up effort, in terms of time and money, is the one that has been least successful. I'm sure this falls under the law of reverse return, or something. Why?? Partially because I let it die. Running an errand service required leaving the house (dressed in a certain manner) on a regular basis. It often involved shopping which I do not love (unless it's at thrift stores and flea markets). My phone had to be on all the time, and in order to be successful, I had to go to Chamber of Commerce events and do "marketing". That, put simply, is not me. Add to that fact the current economy issues, and there you are. These days people wrap their own gifts instead of paying others. They can't afford to have someone pick up their prescriptions and dry cleaning for them. Money and time down the drain, but I'm much happier with the business off my back.
The end result is that money has not been tricking in quite as fast or as often as I would have liked. On the other hand, the future looks good. The two growing businesses are those that are flexible and work around my lifestyle. Neither specifically require a large investment, business insurance or other expenses (quilting requires fabric, but I have piles and that is built into item cost, before profit). I can do both wherever I go, when I feel like it. And neither of them will ever (thankfully) be a real job.
Work till I'm seventy? Not me? Life is just too much fun. So I'll continue to trim and downsize where it doesn't hurt. I'll also add funds through what one blogger called the "side hustle" and in the end, life is good. As always.
Saturday, October 15, 2011
Shopping Locally-Is It Worth It?
I live in an area with lots of shopping. In my area at least, malls are giving way to outdoor shopping. Not the traditional strip mall, but rather shopping areas like this and this. Stores are interspersed with restaurants. Small shops abut department stores, and the shopping area closest to me even has a dog park. There is also a walking downtown as well as traditional mom and pop stores.
I am fortunate among all these shopping alternatives are quite a few individually owned small businesses. I have a locally owned, non chain bookstore. The kind that, like the big boys, has large coffee area, book groups and large spaces for reading. I have a non-chain fabric stores, scrapbook stores, clothing stores and other retail establishments.there are also locally owned printers, computer repair, and the like. I appreciate this in the extreme. I'm an extremely small business owner. While I rely on the web for some income, much of my income comes in locally. I rely on small businesses for my errand business and appreciate the struggle.
On the other hand, I have to watch my money. The question arises as to what to do when you want to support local businesses, but they are more expensive. Mind you, not all my local businesses are more expensive. My family owned hardware is extremely competitive. The local computer repair place wiped my computer of a virus for about a quarter of the Geek Squad's basic price. However, the bookstore is more expensive than discount online stores. The same is true of my local fabric store-they try to give the best price possible they cannot compete with Joanne fabrics or online choices. So what's a frugal gal to do? Especially since I have to pass the cost of goods onto my customers in terms of fabric and thread.
Sometimes it's a tough choice, but for now I've decided that whenever possible I'll make the local choice. Sometimes this may mean that I will be able to buy less, but I've decided that's okay. Mostly, the quality of the items in my local shops are superior to Walmart and Target. The items are sometimes (but not always) locally made. I like where I live and I like the kind of shopping and atmosphere-I figure whenever I can support that on my fixed income I should do so.
Sometimes I'm sure, Ill stray from the path-especially when I'm searching for supplies to make items to resell. But for now, I'll keep my small amount of money in my neighborhood as much as possible.
What about you-do you have locally owned stores? Do they provide quality? Do you shop there? Or do you prefer to stick with the big boys and their (sometime) big discounts. What works for you?
I am fortunate among all these shopping alternatives are quite a few individually owned small businesses. I have a locally owned, non chain bookstore. The kind that, like the big boys, has large coffee area, book groups and large spaces for reading. I have a non-chain fabric stores, scrapbook stores, clothing stores and other retail establishments.there are also locally owned printers, computer repair, and the like. I appreciate this in the extreme. I'm an extremely small business owner. While I rely on the web for some income, much of my income comes in locally. I rely on small businesses for my errand business and appreciate the struggle.
On the other hand, I have to watch my money. The question arises as to what to do when you want to support local businesses, but they are more expensive. Mind you, not all my local businesses are more expensive. My family owned hardware is extremely competitive. The local computer repair place wiped my computer of a virus for about a quarter of the Geek Squad's basic price. However, the bookstore is more expensive than discount online stores. The same is true of my local fabric store-they try to give the best price possible they cannot compete with Joanne fabrics or online choices. So what's a frugal gal to do? Especially since I have to pass the cost of goods onto my customers in terms of fabric and thread.
Sometimes it's a tough choice, but for now I've decided that whenever possible I'll make the local choice. Sometimes this may mean that I will be able to buy less, but I've decided that's okay. Mostly, the quality of the items in my local shops are superior to Walmart and Target. The items are sometimes (but not always) locally made. I like where I live and I like the kind of shopping and atmosphere-I figure whenever I can support that on my fixed income I should do so.
Sometimes I'm sure, Ill stray from the path-especially when I'm searching for supplies to make items to resell. But for now, I'll keep my small amount of money in my neighborhood as much as possible.
What about you-do you have locally owned stores? Do they provide quality? Do you shop there? Or do you prefer to stick with the big boys and their (sometime) big discounts. What works for you?
Friday, September 30, 2011
Fixed Income Retirement-Affording Hobbies and Passions
One of the many concerns about entering the retirement zone has to do with lifestyle issues such as hobbies and travel.Those who have active hobbies wonder if they will still be able to enjoy their passions. Folks who have been dreaming about indulging in new interests may wonder-will that still be possible? The short answer to both is yes.
Obviously there are a few hobbies out there that require a certain amount of disposable income (flying, boating, mountain climbing in the Himalayas come to mind). For the rest of us, there are certainly ways to continue our passions without breaking the bank or becoming homeless. Some planning may be involved. I am a quilter (quilt fabric alone averages 9 dollars per yard), I love to do gourmet cooking. My son a semi unemployed post-college student is passionate about golf, among other things. We still manage to pursue these interests, and you can probably do the same, with a little forethought. I haven't included travel in this missive because I believe frugal travel in retirement is worth it's own article (if not two or three).
If you re just investigating a hobby/passion, wait to purchase all the tools of the hobby until you are committed. Use cheaper equipment, rent, or borrow until you are SURE this is where your interest lies. I am one of those Renaissance types who knows a little about a lot of things (a Jeopardy contestant waiting to happen). But I've only seriously invested cash in those few things that I believe will keep me interested years down the road.
If you have a more costly hobby now, remember that the freedom of retirement may allow you more cost flexibility. The cost of eighteen holes the links on a weekday afternoon is certainly less, for example, than Saturday morning
Buy the best tools that you can reasonably afford, and then work with what you have. In most hobbies, or interests the tools of the trade (sewing machines, golf clubs, knives, climbing equipment, racing bikes) are where the true cost lies. This doesn't mean these items have to be new, or even the most expensive. They have to do the job and make you feel comfortable using them. To use the golf club example again-my six foot six inch son grew about four inches in the space of two years. He required new, special height golf clubs Someone got a lovely pair of golf clubs sold through Craigslist, that probably lasted them forever (as he expects to happen to the new ones). Sewing machines that do quilting can run from a couple hundred up to five thousand dollars, but the lower priced ones work well and many things can be found used.
Keep the ancillary costs down. This means once you've gotten that basic equipment, purchase additional supplies due to a serious need or want-and look at alternative methods. I have, in midlife, decided to learn gardening. I could bring in truck loads of plants. Instead of chosen to grow from seed and clippings as much as possible, and fertilize with natural materials. Obviously if I want to make scarves, I need yarn. I don't need a laundry basket full of yarn, however. Again, consider alternative sources for these materials and supplies. I often get enough yarn from a thrift shop to make a scarf or hat. The second hand market is full of sporting good supplies, used books, and collectibles if you are a collector. And remember that stores make big bucks getting us to buy stuff for which we have absolutely no need- home improvement, golf and hobby stores are no exception.
Join a group of like minded people. In addition to sharing your passion, part of your conversations will be about where to get materials (when the restaurant store has a sale, for example) and where to partake of your interest cheaply (the best cheap golf courses, when William Sonoma has a free cooking class). The garden club in my town is holding a swap this week-for plants, clipping, pots and gardening supplies.
If you are looking for a new hobby, consider adding at least one low cost hobby to your repertoire. Believe me, they exist. Acting in community theater, hiking/Vollksmarching, running, writing, collecting non-antiques, naturalism, community activism, drawing, and team sports participation are just a few of the hobbies that are free save for a few start up costs.
Also, consider adding a hobby that may improve your financial situation and/or your quality of life Learning woodworking may not only be a passion, it may help you to improve your surroundings, or you may even make gifts. I've decided to learn to can food. While this involved the one time purchase of a canner as well as jars and lids, I feel that it will save me money in the long run, as well as improve the quality of my family's food while controlling ingredients (and if next years garden improves, it may save me even more money). Marathon running and biking improve your health.
Consider making gifts to offset some of the cost of your hobby. I'm not merely speaking about those crafty hobbies, mind you. Gifted writers or genealogists can pen short family memories or humorous poems for cards or gifts. Woodworkers can make gifts without being "artistic". Most of my house is filled with photos rather than paintings and I would happily put a really good travel photo on my wall. Ideally my canning and cooking skills will allow me to give homemade sauces (barbecue and dessert), pickles and mojito jelly as gifts this year.
Pace yourself if you are adding new hobbies after retirement. Other wise you may end up with a houseful of stuff you don't use, no room to move, and feel overwhelmed. Most of us have one or two major interests or passions and a few interests in which we "dabble". In addition to being sure you have an interest before investing financially, be sure you have the passion and energy to maintain the hobby over the long haul. It's fine to experiment with many things-but keep your major emphasis on a few.
My last two thoughts on affordable and retirement hobbies are two. First, if you have a gift or skill consider using it to help others. Most any hobby leads itself to volunteering, be it using woodworking to assist Habitat for Humanity, teaching golf to children, or making blankets for newborns or abandoned pets. Using your hobby to volunteer will bring it to a new level, I assure you. My second thought is that many hobbies translate into streams of income. If you feel you need extra money or a part time job, consider using your hobby as a base. It will offset costs, and perhaps bring in income. However, remember that once a hobby becomes "work" you sometimes have a different relationship. In my case I still love to quilt, for myself and others. However, there is a different element that comes in when quilting to sell (things like keeping track of the hours I spend, deciding on fair value and so on). At this point it is still a joy to me. If that changed, I would have change the work aspect of that hobby.
Obviously there are a few hobbies out there that require a certain amount of disposable income (flying, boating, mountain climbing in the Himalayas come to mind). For the rest of us, there are certainly ways to continue our passions without breaking the bank or becoming homeless. Some planning may be involved. I am a quilter (quilt fabric alone averages 9 dollars per yard), I love to do gourmet cooking. My son a semi unemployed post-college student is passionate about golf, among other things. We still manage to pursue these interests, and you can probably do the same, with a little forethought. I haven't included travel in this missive because I believe frugal travel in retirement is worth it's own article (if not two or three).
If you re just investigating a hobby/passion, wait to purchase all the tools of the hobby until you are committed. Use cheaper equipment, rent, or borrow until you are SURE this is where your interest lies. I am one of those Renaissance types who knows a little about a lot of things (a Jeopardy contestant waiting to happen). But I've only seriously invested cash in those few things that I believe will keep me interested years down the road.
If you have a more costly hobby now, remember that the freedom of retirement may allow you more cost flexibility. The cost of eighteen holes the links on a weekday afternoon is certainly less, for example, than Saturday morning
Buy the best tools that you can reasonably afford, and then work with what you have. In most hobbies, or interests the tools of the trade (sewing machines, golf clubs, knives, climbing equipment, racing bikes) are where the true cost lies. This doesn't mean these items have to be new, or even the most expensive. They have to do the job and make you feel comfortable using them. To use the golf club example again-my six foot six inch son grew about four inches in the space of two years. He required new, special height golf clubs Someone got a lovely pair of golf clubs sold through Craigslist, that probably lasted them forever (as he expects to happen to the new ones). Sewing machines that do quilting can run from a couple hundred up to five thousand dollars, but the lower priced ones work well and many things can be found used.
Keep the ancillary costs down. This means once you've gotten that basic equipment, purchase additional supplies due to a serious need or want-and look at alternative methods. I have, in midlife, decided to learn gardening. I could bring in truck loads of plants. Instead of chosen to grow from seed and clippings as much as possible, and fertilize with natural materials. Obviously if I want to make scarves, I need yarn. I don't need a laundry basket full of yarn, however. Again, consider alternative sources for these materials and supplies. I often get enough yarn from a thrift shop to make a scarf or hat. The second hand market is full of sporting good supplies, used books, and collectibles if you are a collector. And remember that stores make big bucks getting us to buy stuff for which we have absolutely no need- home improvement, golf and hobby stores are no exception.
Join a group of like minded people. In addition to sharing your passion, part of your conversations will be about where to get materials (when the restaurant store has a sale, for example) and where to partake of your interest cheaply (the best cheap golf courses, when William Sonoma has a free cooking class). The garden club in my town is holding a swap this week-for plants, clipping, pots and gardening supplies.
If you are looking for a new hobby, consider adding at least one low cost hobby to your repertoire. Believe me, they exist. Acting in community theater, hiking/Vollksmarching, running, writing, collecting non-antiques, naturalism, community activism, drawing, and team sports participation are just a few of the hobbies that are free save for a few start up costs.
Also, consider adding a hobby that may improve your financial situation and/or your quality of life Learning woodworking may not only be a passion, it may help you to improve your surroundings, or you may even make gifts. I've decided to learn to can food. While this involved the one time purchase of a canner as well as jars and lids, I feel that it will save me money in the long run, as well as improve the quality of my family's food while controlling ingredients (and if next years garden improves, it may save me even more money). Marathon running and biking improve your health.
Consider making gifts to offset some of the cost of your hobby. I'm not merely speaking about those crafty hobbies, mind you. Gifted writers or genealogists can pen short family memories or humorous poems for cards or gifts. Woodworkers can make gifts without being "artistic". Most of my house is filled with photos rather than paintings and I would happily put a really good travel photo on my wall. Ideally my canning and cooking skills will allow me to give homemade sauces (barbecue and dessert), pickles and mojito jelly as gifts this year.
Pace yourself if you are adding new hobbies after retirement. Other wise you may end up with a houseful of stuff you don't use, no room to move, and feel overwhelmed. Most of us have one or two major interests or passions and a few interests in which we "dabble". In addition to being sure you have an interest before investing financially, be sure you have the passion and energy to maintain the hobby over the long haul. It's fine to experiment with many things-but keep your major emphasis on a few.
Saturday, September 17, 2011
Fixed Income LIving-What If You Still Need More Money.
The world need can be literal or figurative. It's definition by nature depends on the person using it. No matter your definition, what if all your needs are not met. You've figured the budget, done the math, and you still need more money. Now what? The way I see it, there are three choices-the after retirement job, the after retirement small/home business, and playing the market (although some might say the latter was a job). While I won't comment on the day trading aspect, both of the other two options have advantages and disadvantages
Many folks find getting a part time job a solution. Part time work outside the house has its advantages. It gets you outside of the house, if you have that need. it can be a chance for socialization as well. Assuming you have a regular weekly schedule, the amount you will receive will probably not vary much from week to week. Income will arrive in a couple weeks, as opposed to a small business which has a start up delay both in terms of money and time. A part time job will probably not cost you much, other than commuting costs. On the other hand, when you have a part time job, you gotta be there. Some flexibility is lost. You may be reporting to people younger than you, and you will be low man on most of the proverbial totem poles. Last but not least, I would simply observe that as retirees, most of the jobs we take are those that traditionally are taken by entry young people. If we need those jobs, what are we expecting them to do.
The biggest advantage of self employment (usually but not always done at home in retirement) is the freedom of control-of our time as well as other aspects of life. Obviously if you are in anything related to customer service, you will have appointments to be kept. On the other hand, most of your schedule is up to you. So if you wish to spend the day on the patio with a book, life as you know it may not end. A small business may be more fulfilling as it is most likely to be a hobby or an interest that you have developed further. A small business can keep you close to home (a double edged sword, I know). The biggest downsides to self employment are irregular income and the need to develop a customer base before you see a profit. Most small/home businesses require investments of time, money or both in the start up process. While there are some service business that bring in money immediately, few of us are ready to mow lawns for instant cash, if you get my drift.
Obviously, before looking for second income, you should reevaluate your expenses and financial position. Downsize as much as is humanly possible according to your comfort level and financial needs. Ideally, the second income should be used for wants, extras that make us feel less deprived, rather than for needs. Know how much you would like to make, as well as how you will make do if the job doesn't work out or the business doesn't succeed. Remember that life is to be enjoyed. Most of us have no desire to work full time (self employed or otherwise) after retirement. By adjusting your life so that you NEED less, you will come ahead either way.
When I chose to stay in my home, keep the cable, travel and quilt, I accepted the fact that extra money would be required beyond social security and pension. However, that was a conscious choice., as was the one to commit to working for myself (at least for now). In my case, I need the ability to work around my school schedule. I like and need to be at home, much of the time. At another time (post degree) I may choose the employment option, or I may freelance as a translator, who knows. Everyone makes different choices.
My last thought is this........when it comes to employment or self employment those of you who are couples should throw out those gender roles already. I say this as a woman who spent most of her life as an at home mom and wife, working here and there to bring in a bit as it was needed. If the primary breadwinner wants or needs to not work, perhaps the other partner should take a turn.
Many folks find getting a part time job a solution. Part time work outside the house has its advantages. It gets you outside of the house, if you have that need. it can be a chance for socialization as well. Assuming you have a regular weekly schedule, the amount you will receive will probably not vary much from week to week. Income will arrive in a couple weeks, as opposed to a small business which has a start up delay both in terms of money and time. A part time job will probably not cost you much, other than commuting costs. On the other hand, when you have a part time job, you gotta be there. Some flexibility is lost. You may be reporting to people younger than you, and you will be low man on most of the proverbial totem poles. Last but not least, I would simply observe that as retirees, most of the jobs we take are those that traditionally are taken by entry young people. If we need those jobs, what are we expecting them to do.
The biggest advantage of self employment (usually but not always done at home in retirement) is the freedom of control-of our time as well as other aspects of life. Obviously if you are in anything related to customer service, you will have appointments to be kept. On the other hand, most of your schedule is up to you. So if you wish to spend the day on the patio with a book, life as you know it may not end. A small business may be more fulfilling as it is most likely to be a hobby or an interest that you have developed further. A small business can keep you close to home (a double edged sword, I know). The biggest downsides to self employment are irregular income and the need to develop a customer base before you see a profit. Most small/home businesses require investments of time, money or both in the start up process. While there are some service business that bring in money immediately, few of us are ready to mow lawns for instant cash, if you get my drift.
Obviously, before looking for second income, you should reevaluate your expenses and financial position. Downsize as much as is humanly possible according to your comfort level and financial needs. Ideally, the second income should be used for wants, extras that make us feel less deprived, rather than for needs. Know how much you would like to make, as well as how you will make do if the job doesn't work out or the business doesn't succeed. Remember that life is to be enjoyed. Most of us have no desire to work full time (self employed or otherwise) after retirement. By adjusting your life so that you NEED less, you will come ahead either way.
When I chose to stay in my home, keep the cable, travel and quilt, I accepted the fact that extra money would be required beyond social security and pension. However, that was a conscious choice., as was the one to commit to working for myself (at least for now). In my case, I need the ability to work around my school schedule. I like and need to be at home, much of the time. At another time (post degree) I may choose the employment option, or I may freelance as a translator, who knows. Everyone makes different choices.
My last thought is this........when it comes to employment or self employment those of you who are couples should throw out those gender roles already. I say this as a woman who spent most of her life as an at home mom and wife, working here and there to bring in a bit as it was needed. If the primary breadwinner wants or needs to not work, perhaps the other partner should take a turn.
Wednesday, July 13, 2011
Retirement Income-The Ups Of Multiple Income Streams
As a widow, I'm blessed to have survivor's social security and a small government pension to keep me going. Even so, as readers know, I'll still need to supplement with some income. I need backup for all those irregular expenses and inflation, and need to come up with a fair hefty emergency fund, as I have virtually no investments.
Like many folks heading into retirement, I've chosen three or four income streams rather than one job or business. While having a single job or business has some advantages, for many, multiple income streams make life more secure and also more flexible. As one author describes it, I decided to plant many seeds.
When you have many little slices of income, boredom is rare. If I'm working on a project or portion of that stream and boredom sets in, I can move aside to an aspect of another business. Although I started a quilting business because I enjoy quilting, there are times when sitting down at that sewing table is the last thing I want to do. When that time arises, I can simply work on listing or buying books, writing, or other activities that also bring in income.Of course I can also grab a book, a drink, sit down and read and return to my labors later. Diversity is, by nature, a part of my daily life.
Having those income alternatives allow me to stretch myself in different ways, and use different skills.While creating crafted items generally require me sitting at my studio, my book business allows me to go out in the world and search for books, as well as expand my knowledge about that business. Although many jobs and small businesses have multiple aspects, multiple streams widen ones experiences. This is especially true when, like me, the businesses tend to be in different areas.
In my case at least, multiple income streams fit into my idea of seasonal living. Spring and summer are spent doing things like searching flea markets and bookstores for inventory, taking day trips and writing about my experiences, assisting with yard sales and home organization as part of my errand/concierge business. As we head into the fall (a relative term here in Texas) my business turns to selling crafts, and my errand business duties turn to becoming the "Christmas elf".
With multiple income streams, if one stream drops off, there's not a need to panic because other income streams are still available, Book selling, writing, and teaching about discounts and deals are year around opportunities for me. While crafting is a year around opportunity, business picks up during the holidays and I'm sewing for Christmas as we speak. My errand business has begun slowly. I expect that the ability to be the "Christmas Elf" will mean that business is what I am concentrating on during the holidays.
While you may not want to take "work" with you as you travel, small income streams may fit more easily into the flexible retirement lifestyle. In other words, small income streams may be more portable than a larger business or part time job. Depending I my mood and desire, I can do as much or as little as I like in my travels when it comes to work. My road trips generally including visiting flea markets, library book sales and quilt shops, all in the name of future inventory. My laptop keeps me up to date and aware when I am traveling. Keeping a journal online is enjoyable to me, and useful for income later on.
There are, admittedly, some down sides to so many income streams. Unlike a regular job there are no benefits, medical or otherwise. Many income streams are done at home, and can take over the house, and your time without some basic time management (more on this to come soon). And of course, some people may prefer to concentrate all their energies on one passion.Ffor these people, multiple income opportunities are still available, they just need to be looked at from a different angle. I could be a quilter, a quilt teacher, a quilt store owner.......................you get the drift.
At the end of the day, though, I find four small streams of income much more reliable, and much more manageable that one business or part time job. It works for me.....how about you? If you bring in income, do you prefer to keep your eggs in one basket?
Like many folks heading into retirement, I've chosen three or four income streams rather than one job or business. While having a single job or business has some advantages, for many, multiple income streams make life more secure and also more flexible. As one author describes it, I decided to plant many seeds.
When you have many little slices of income, boredom is rare. If I'm working on a project or portion of that stream and boredom sets in, I can move aside to an aspect of another business. Although I started a quilting business because I enjoy quilting, there are times when sitting down at that sewing table is the last thing I want to do. When that time arises, I can simply work on listing or buying books, writing, or other activities that also bring in income.Of course I can also grab a book, a drink, sit down and read and return to my labors later. Diversity is, by nature, a part of my daily life.
Having those income alternatives allow me to stretch myself in different ways, and use different skills.While creating crafted items generally require me sitting at my studio, my book business allows me to go out in the world and search for books, as well as expand my knowledge about that business. Although many jobs and small businesses have multiple aspects, multiple streams widen ones experiences. This is especially true when, like me, the businesses tend to be in different areas.
In my case at least, multiple income streams fit into my idea of seasonal living. Spring and summer are spent doing things like searching flea markets and bookstores for inventory, taking day trips and writing about my experiences, assisting with yard sales and home organization as part of my errand/concierge business. As we head into the fall (a relative term here in Texas) my business turns to selling crafts, and my errand business duties turn to becoming the "Christmas elf".
With multiple income streams, if one stream drops off, there's not a need to panic because other income streams are still available, Book selling, writing, and teaching about discounts and deals are year around opportunities for me. While crafting is a year around opportunity, business picks up during the holidays and I'm sewing for Christmas as we speak. My errand business has begun slowly. I expect that the ability to be the "Christmas Elf" will mean that business is what I am concentrating on during the holidays.
While you may not want to take "work" with you as you travel, small income streams may fit more easily into the flexible retirement lifestyle. In other words, small income streams may be more portable than a larger business or part time job. Depending I my mood and desire, I can do as much or as little as I like in my travels when it comes to work. My road trips generally including visiting flea markets, library book sales and quilt shops, all in the name of future inventory. My laptop keeps me up to date and aware when I am traveling. Keeping a journal online is enjoyable to me, and useful for income later on.
There are, admittedly, some down sides to so many income streams. Unlike a regular job there are no benefits, medical or otherwise. Many income streams are done at home, and can take over the house, and your time without some basic time management (more on this to come soon). And of course, some people may prefer to concentrate all their energies on one passion.Ffor these people, multiple income opportunities are still available, they just need to be looked at from a different angle. I could be a quilter, a quilt teacher, a quilt store owner.......................you get the drift.
At the end of the day, though, I find four small streams of income much more reliable, and much more manageable that one business or part time job. It works for me.....how about you? If you bring in income, do you prefer to keep your eggs in one basket?
Saturday, April 30, 2011
Fixed Income Living-Selling Your Stuff (Revisited)
Back in January, I wrote that one small stream of income for retirees and folks on fixed income could be selling their stuff. I mentioned that I would be selling some possessions (both to make room and to increase income). Since then, I've sold a few things through various methods, and I thought I would share the positives and negatives of my experience.
My experience was not about starting an "EBay Business" or a "Reselling Business". My purpose was to sell good, usable stuff of differing value. Most of it was the kind of stuff that is a little to valuable to drop off at good will, a few pieces were collectibles. This was stuff that had minimal emotional value, and freed up space. Saleable items ranged from Department 56 pieces, to Vera Bradley bags, to the pots and pans and appliance that were excess after three households became one (of course, then when my son moved away...............). I did my reselling a few different ways, and thought I would share what happened and what I would do again.
Two final thoughts. First, I still have piles of stuff. It's doubtful that I'll ever be part of the minimalist or simplicity movement, and my children will still have more things from me than they know what to do with. Second, after I started my purging and selling, I came across a book called "Stop Throwing Your Money Away, Turn Clutter Into Cash................". I guess I must be on the right path!!
My experience was not about starting an "EBay Business" or a "Reselling Business". My purpose was to sell good, usable stuff of differing value. Most of it was the kind of stuff that is a little to valuable to drop off at good will, a few pieces were collectibles. This was stuff that had minimal emotional value, and freed up space. Saleable items ranged from Department 56 pieces, to Vera Bradley bags, to the pots and pans and appliance that were excess after three households became one (of course, then when my son moved away...............). I did my reselling a few different ways, and thought I would share what happened and what I would do again.
- Ebay: Although I sold my most valuable items on EBay, it's probably the last place I would go again. My experience was not terrible, but as a small seller, I would try to sell locally first. In answer to someones question in my previous post, the client pays shipping costs. The price you set is what you get. Overall I had good buyers, but for me, packing and shipping delicate valuable items would be a last resort. I ended up selling 3 Department 56 Valentine Village pieces, and a 4th of July piece, all for close to $100.00 each.
- Craigslist: I was surprised at how successful this was. I listed my item with photos, my email was anonymous, and buyers were friendly. I would not discount this alternative, even for more valuable items. Note: everyone has to decide on their own comfort level. For most items, I met in a neutral pace we traded cash and that was it. However, one of the items I sold was an expensive sewing machine, that had to be tried at a table. After some discussion, my son and I agreed that it was reasonable to have her in the house. We were two adults, a barking black dog and a security system. Had something looked "hinky", we would have suggested another alternative. The same is true if I had been living alone. I sold a fifteen hundred dollar sewing machine for six hundred dollars, a complete set of dishes, some purses and Longaberger baskets this way and was rewarded well.
- Yard Sale: I always say that for yard sales to be worthwhile, you have to have children's items. Fortunately, I was wrong in my case. My neighborhood association has a sale twice a year, and I decided to participate, literally the day before. In one day, sitting on my front walk, I made three hundred dollars. Things that sold well this way were my purses and briefcase, dishes and pots and pans and linens, and old craft supplies. While I would not attempt this one again without my twenty two year old live in (at the time) stevedore, it was a good alternative.
- Amazon: This was where we sold our books, magazines, some DVDs and many video games and it went well. While there are other alternatives, amazon is the elephant in the room so to speak, and they make shipping and sales extremely easy. I pared down four shelves of books (leaving me with another four to five) . We were so happy with our experience here that my son now buys and sells books on amazon (the profits of which he splits with me, the silent partner), but that's another story.
Two final thoughts. First, I still have piles of stuff. It's doubtful that I'll ever be part of the minimalist or simplicity movement, and my children will still have more things from me than they know what to do with. Second, after I started my purging and selling, I came across a book called "Stop Throwing Your Money Away, Turn Clutter Into Cash................". I guess I must be on the right path!!
Tuesday, April 12, 2011
Frugal Retirement: Turning a Hobby into an Income Stream
Now, as many hobbyists, in previous times the products I made were primarily used for enjoyment or gifts. While I made the occasional custom sports or baby quilts, most of my endeavors were enjoyed by me, family and friends. Turning a hobby into an income requires a different mindset, and along the way I’ve learned a few things:
• While some income streams such as selling your stuff may bring in instant income, many income streams, even small ones take a while to get off that ground. That advice about small businesses not making any business in the first year? That applies to micro businesses and incomes streams as well. As the side bar to my blog shows, I do have a few things listed for sale. But the truth of the matter is that I probably won’t see any real income until the summer.
• When it comes to creative hobbies, one needs to focus on what people want, rather than what you like to make. Although this sounds simple (and obvious) it can be an adjustment. I generally made large quilts. I’ve learned that smaller, seasonal and useful items need to be added to the mix. Living where I do I’ve started to incorporate “Texas” fabrics and various team logos into my projects.
• For me at least, I’ve had to find a way to combine my creativity with good business practices. This means things like making more than one of the same item, just in different colors and themes, so that I can be more efficient with my time. So once I find a pattern I like, I do all the cutting, all the sewing and all the quilting for multiple items in stages.
• In order to be a success, you have to have some kind of schedule and make some kind of time commitment. This is where all the business types that read my blog say to themselves “well, duh!!” As I’ve said before, I’m a putterer at heart. Most of my life I’ve been an at home wife and mom, or in a field where if you waited five minutes, you would be doing something completely different. With that in mind, I’ll never be the gal who gets up, has breakfast and goes into her studio to work for half a day. However, I do commit to a certain amount of time a week, and once I begin sewing, I commit to a time period before I leave that studio. Equally importantly, I’ve learned to track that time and schedule.
• You need to learn to value your time. This is especially difficult for creative hobbyists. Even though we’re making for profit, we generally enjoy the process. This means that when it comes to figuring out the value of a creation (or even a service); we downplay the value of our time. While we may not be able to pay ourselves $20 an hour, some kind of acknowledgement of our creative time is central to the pricing process.
• Small businesses, even casual income streams usually need some kind of structure. This means registering a name, getting a tax number, and figuring out how clients will pay you, for example. How much structure obviously depends on the business? For my business, barbarajune creations, I’ve registered a name, gotten a tax number, opened a business account in quicken and that’s about it. I don’t need any insurance; employees are out right now…you get the idea.
As you can see, I’ve had a learning curve. Others with more business experience in the “real world” may have fewer adjustments, some may have more. What I have learned is that it’s a fine line between hobby and business, but one that’s well worth it. The freedom to create, but with the knowledge that any success regarding income relies totally on me can be a shock sometimes-and I have more than one income stream!!
So I’ll continue to watch the views to my website rise, create and add more items to my little online store, learn about craft marketing and enjoy that fact that overall, I can make a little bit of money doing a lot of what I enjoy.
Tuesday, February 22, 2011
Fixed Income Living-Saving on Expenses VS Earning Income
As I've shared on other occasions, I look forward to living on a small pension and my husband's social security. It's fair to say those amounts will not give me a great deal of disposable income. I've talked about my attempts to build some streams of income such as selling crafts, selling stuff and attempting to begin a concierge business (which has yet to see much income at all). I look for income from these various streams to give me some added security and greater flexibility in life choices.
Here's the thing, though. I spend at least an equal amount of energy on saving money as making money. Given the choice, I would rather spend time saving money than creating income.
Why do I choose saving money over making money when possible? Well, first, because its often more effective and more efficient. When I save a dollar in one area, that's given me a full dollar of disposable income to spend elsewhere. Were I to go out and earn that dollar as income I could lose as much as forty percent of it to social security, federal and state taxes and medicare (remember, I'm not of social security or medicare age as of yet). and that doest include any expenses I might incur such as gas expenses or special clothing costs.
In my case at least, most of my money saving tasks can be done either in the relaxation of my home, or while I am doing the normal activities of life. Even though I have "home based" streams of income, earning that income requires my going out and interacting with people, searching for business, marketing and the like. Many meals (even restaurant quality meals) that I make have down time, during which I can read, relax and do the things I find most enjoyable. Searching for discounts and deals and freebies can be done relaxing on the couch while I'm watching "MI5" on PBS. Not only that, but I'm probably in a lounger or jammies when I do so.
Another reason I often choose savings over earning is that the results of frugality and saving money are usually visual and often immediate, or darned close. Today I was window shopping, looking for decorating ideas to make my home more "springlike". I've determined that winter is over, whether mother nature agrees is yet to be seen. Once I arrived home, within an hour or so I had made decisions and been creative with what I had on hand. I managed to make my living room seasonal in a few hours, with almost no spending. The rest of the transformation will require a bit more time and effort (and a sewing machine). The reward for my effort was then and there, both in terms of creativity and money savings. Also, by not spending money in one area, I've immediately increased my "disposable income".
Lastly, saving money often simply requires doing nothing. By choosing to create a gourmet meal instead of going out, I expend energy instead of money. But the truth is, in many other cases I simply choose to eliminate that spending choice. In other words, as I mentioned in a previous posting, sometimes its the things I don't do that save me money and increase income.
Everyone makes different financial choices, and some folks who are on a fixed income or retired may truly enjoy their work. I don't mean to imply that earning money is a bad thing. For those of us who work primarily out of necessity, it's good to look at all sides of the picture before stepping out into the "earning world"
Here's the thing, though. I spend at least an equal amount of energy on saving money as making money. Given the choice, I would rather spend time saving money than creating income.
Why do I choose saving money over making money when possible? Well, first, because its often more effective and more efficient. When I save a dollar in one area, that's given me a full dollar of disposable income to spend elsewhere. Were I to go out and earn that dollar as income I could lose as much as forty percent of it to social security, federal and state taxes and medicare (remember, I'm not of social security or medicare age as of yet). and that doest include any expenses I might incur such as gas expenses or special clothing costs.
In my case at least, most of my money saving tasks can be done either in the relaxation of my home, or while I am doing the normal activities of life. Even though I have "home based" streams of income, earning that income requires my going out and interacting with people, searching for business, marketing and the like. Many meals (even restaurant quality meals) that I make have down time, during which I can read, relax and do the things I find most enjoyable. Searching for discounts and deals and freebies can be done relaxing on the couch while I'm watching "MI5" on PBS. Not only that, but I'm probably in a lounger or jammies when I do so.
Another reason I often choose savings over earning is that the results of frugality and saving money are usually visual and often immediate, or darned close. Today I was window shopping, looking for decorating ideas to make my home more "springlike". I've determined that winter is over, whether mother nature agrees is yet to be seen. Once I arrived home, within an hour or so I had made decisions and been creative with what I had on hand. I managed to make my living room seasonal in a few hours, with almost no spending. The rest of the transformation will require a bit more time and effort (and a sewing machine). The reward for my effort was then and there, both in terms of creativity and money savings. Also, by not spending money in one area, I've immediately increased my "disposable income".
Lastly, saving money often simply requires doing nothing. By choosing to create a gourmet meal instead of going out, I expend energy instead of money. But the truth is, in many other cases I simply choose to eliminate that spending choice. In other words, as I mentioned in a previous posting, sometimes its the things I don't do that save me money and increase income.
Everyone makes different financial choices, and some folks who are on a fixed income or retired may truly enjoy their work. I don't mean to imply that earning money is a bad thing. For those of us who work primarily out of necessity, it's good to look at all sides of the picture before stepping out into the "earning world"
Friday, January 14, 2011
Casual Retirement Income: Part One-Selling Your Stuff
I have a lovely Dickens Christmas Village. For many years, my brother in law gave each family a village piece at Christmas. I love it, display it and will never give it up. Over the years, we have added small pieces on our own. Now that Bill no longer gifts us with pieces, I have decided that this year I will buy a church, as that is something I feel is missing in our little town.
Not to do anything by half, I then went out and purchased a Valentine village (candy shop, wedding chapel and card shop), Halloween pieces, Fourth of July pieces and even a collection of quilt houses because I am a quilter. Many of these were never used or displayed. I just figured if one seasonal village was great, one for each season was better. While a couple of these, including the Halloween house do get used regularly, many have simply sat in boxes on a shelf. Until I recently dragged the 4th of July house to the fore, my children never even knew I had the house.
What has all this to do with casual income? On a whim, I recently listed a couple of these houses on eBay. This took minimal time-I just took a couple of decent pictures and wrote up a quick listing. When the item sells, I will simply wrap them up and mail them. For this little bit of effort, one of these houses has now reached $70.00, and the bidding still has a ways to go. Even if the mailing process requires an extra half an hour of errand time, the ratio of money made to effort spent is sufficient to make the sale worthwhile.
I share this experience not to show what a smart cookie I am, but to show that one way to make casual income here and there is to sell possessions you or family may no longer use or need.
I certainly would not have sold these pieces if they had emotional value to me or my family (as does the Christmas Village, which will probably remain in the family forever). These are items which I used briefly, and to which other family members have no real attachment. I imagine that my family has the same amount of “stuff” as most families (perhaps a little more in some areas than others due to overseas travel). What amount is excess differs according to each person. I’ve made it clear before that I am in no way a minimalist, and a certain amount of that stuff will always be with me. Even I have excess, especially as I look to downsize. Some of that excess will be given to friends and family, some donated to various needy cause. But some items I will continue to sell, and reap those small rewards.
For those of us who need additional income (even dribs and drabs), small rewards like these are insufficient. That said, added to other small streams of income, selling some of your stuff is certainly one way to add a little cash to your pockets. And many pockets of cash add up to a decent income stream. Not only that, but in some cases selling your stuff can lead to a second income stream, or even a mini business. As we have slowly sold my plethora of books, my college aged son has managed the sales and reaped the rewards. He’s now looking at other ways to acquire books to sell, to continue his cash flow until he finds employment.
I encourage you to look through your unused possessions and see which ones might bring you a bit of money. If you’re unsure, a simple EBay search should answer questions regarding value and average sale. Good luck and happy streaming!
Not to do anything by half, I then went out and purchased a Valentine village (candy shop, wedding chapel and card shop), Halloween pieces, Fourth of July pieces and even a collection of quilt houses because I am a quilter. Many of these were never used or displayed. I just figured if one seasonal village was great, one for each season was better. While a couple of these, including the Halloween house do get used regularly, many have simply sat in boxes on a shelf. Until I recently dragged the 4th of July house to the fore, my children never even knew I had the house.
What has all this to do with casual income? On a whim, I recently listed a couple of these houses on eBay. This took minimal time-I just took a couple of decent pictures and wrote up a quick listing. When the item sells, I will simply wrap them up and mail them. For this little bit of effort, one of these houses has now reached $70.00, and the bidding still has a ways to go. Even if the mailing process requires an extra half an hour of errand time, the ratio of money made to effort spent is sufficient to make the sale worthwhile.
I share this experience not to show what a smart cookie I am, but to show that one way to make casual income here and there is to sell possessions you or family may no longer use or need.
I certainly would not have sold these pieces if they had emotional value to me or my family (as does the Christmas Village, which will probably remain in the family forever). These are items which I used briefly, and to which other family members have no real attachment. I imagine that my family has the same amount of “stuff” as most families (perhaps a little more in some areas than others due to overseas travel). What amount is excess differs according to each person. I’ve made it clear before that I am in no way a minimalist, and a certain amount of that stuff will always be with me. Even I have excess, especially as I look to downsize. Some of that excess will be given to friends and family, some donated to various needy cause. But some items I will continue to sell, and reap those small rewards.
For those of us who need additional income (even dribs and drabs), small rewards like these are insufficient. That said, added to other small streams of income, selling some of your stuff is certainly one way to add a little cash to your pockets. And many pockets of cash add up to a decent income stream. Not only that, but in some cases selling your stuff can lead to a second income stream, or even a mini business. As we have slowly sold my plethora of books, my college aged son has managed the sales and reaped the rewards. He’s now looking at other ways to acquire books to sell, to continue his cash flow until he finds employment.
I encourage you to look through your unused possessions and see which ones might bring you a bit of money. If you’re unsure, a simple EBay search should answer questions regarding value and average sale. Good luck and happy streaming!
Sunday, August 15, 2010
Income, Any Income.....Junior Edition
This post is not about myself, but rather my 21 year old. Without revealing his private information, he's finished his associate in golf course adminstration, been looking for work since 1 January, and has found absolutely nothing-and I do mean nothing. Not even pizza delivery. Very frustrating.
He has been pursuing his bachelors degree online (there is only one school where you can actually get a business degree in golf course administration). Recently we've had a come to the Lord discussion, if you will. He only went away to the golf school because it was what his dad and I wanted him to do, he really really doesn't want to sit in an office all day and his goal is to join the army after Christmas. This is all good. I feel fairly comfortable that he's not making this decision out of desperation and he's done his research as to training and benefits and so on. We're working on some sites to evaluate skills and using a couple books so he knows what he wants to do even within the army.
Meanwhile though, the kid needs income (and frankly, some socialization, as this is not where he grew up and he knows not a soul). Our first plan of attack is to start literally going door to door starting a week from today, which is when most college kids who go away to school are gone, and see what kind of openings there are. The second is to register with some temporary agencies.
I would also like to look at some temporary income streams. I have a pile of small business books (many of which were for ideas for myself, but that's the next post, perhaps). But since he's pretty committed to the army idea (running and working out so that he can meet the requirements-he wants to be in shape before basic training and not lagging), it would make no sense to start a small business. So far, other income stream ideas I have mainly rely on doing things for me-selling on eBay and Craigslist and making a percentage, for example. Doing the paperwork and graphics for the small crafts business three friends and I are looking to start. I've also hooked him up with a couple survey companies.
So what would you do if you needed at least part time income but couldn't commit to a long term business or job? His lack of a job is affecting me, at this point. Since he knows no one here and also has hardly any social l life (he had many friends at school but of course all those friends are online), I am breaking up my day to find him things to do (hanging curtains ) when I really should be dividing my day between sewing so that I can sell and computer work. And of course this doesn't begin to address the fact that he is totally reliant on me and my small pension. This affects both my bottom line and his self esteem in large ways. I can say truthfully, he is not a kid who feels comfortable relying on mom's largess. His frustration level is at an all time high. Fortunately he is doing everything he can to stay positive and does realize that it's not HIM thats the problem, he's a smart, talented nice kid who just hasn't found that job.
What would you do if you needed short term, part time income, aside from selling what you had? While I have no problem with him applying for temporary work or a delivery type job, starting a small business or committing to a permanent job make no sense ethically or financially when you are looking at about a four month availability. So we continue the search...
He has been pursuing his bachelors degree online (there is only one school where you can actually get a business degree in golf course administration). Recently we've had a come to the Lord discussion, if you will. He only went away to the golf school because it was what his dad and I wanted him to do, he really really doesn't want to sit in an office all day and his goal is to join the army after Christmas. This is all good. I feel fairly comfortable that he's not making this decision out of desperation and he's done his research as to training and benefits and so on. We're working on some sites to evaluate skills and using a couple books so he knows what he wants to do even within the army.
Meanwhile though, the kid needs income (and frankly, some socialization, as this is not where he grew up and he knows not a soul). Our first plan of attack is to start literally going door to door starting a week from today, which is when most college kids who go away to school are gone, and see what kind of openings there are. The second is to register with some temporary agencies.
I would also like to look at some temporary income streams. I have a pile of small business books (many of which were for ideas for myself, but that's the next post, perhaps). But since he's pretty committed to the army idea (running and working out so that he can meet the requirements-he wants to be in shape before basic training and not lagging), it would make no sense to start a small business. So far, other income stream ideas I have mainly rely on doing things for me-selling on eBay and Craigslist and making a percentage, for example. Doing the paperwork and graphics for the small crafts business three friends and I are looking to start. I've also hooked him up with a couple survey companies.
So what would you do if you needed at least part time income but couldn't commit to a long term business or job? His lack of a job is affecting me, at this point. Since he knows no one here and also has hardly any social l life (he had many friends at school but of course all those friends are online), I am breaking up my day to find him things to do (hanging curtains ) when I really should be dividing my day between sewing so that I can sell and computer work. And of course this doesn't begin to address the fact that he is totally reliant on me and my small pension. This affects both my bottom line and his self esteem in large ways. I can say truthfully, he is not a kid who feels comfortable relying on mom's largess. His frustration level is at an all time high. Fortunately he is doing everything he can to stay positive and does realize that it's not HIM thats the problem, he's a smart, talented nice kid who just hasn't found that job.
What would you do if you needed short term, part time income, aside from selling what you had? While I have no problem with him applying for temporary work or a delivery type job, starting a small business or committing to a permanent job make no sense ethically or financially when you are looking at about a four month availability. So we continue the search...
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