Multiple Income Streams and Why Frugal Peoples have them

Image courtesy of via Shopify

This sounds pretty self explanatory, I know. “Multiple Income Streams? Who wouldn’t want that?” Exactly. I’m not sure I know very many people who would be upset by getting money from multiple places. However, it can be a lot of extra work, and on top of a full time job, pets, marriages, kids, etc. it can be extremely tiring.

I won’t lie to you, it’s not easy – you have to be motivated. When I say in my blog’s title that ‘nothing is free, but everything is worth it’, I mean it. You have to be motivated and you have to be willing to sacrifice something now, so that you can have what you want later.

Multiple income streams can be something as big as having a side hustle that makes you $50,000 a year, or something as small as using receipt apps to make an extra $10 here and there. The point of it is that you never have every penny of your income coming from one source.

Since the start of the 2008 recession, 8.8 million people lost their jobs, according to the Bureau of Labor Statistics. If these people did not have additional income streams, they were – to be frank – S.O.L. There were little to no new jobs being created and competition for positions was fierce, so what were people supposed to do? This is why multiple income streams are important.

Having multiple income streams will make it so that even if you lost your job, depending on how committed you are, you’d likely be okay…or at the very least have something coming in to help you not become destitute.

Frugal people have multiple income streams to that they are able to protect themselves. Their income streams are essentially a form of ‘insurance’ that you don’t have to pay someone else to have – they give up time for money so that they do not have to incur debt or homelessness because a job has been lost.

Do you have any side hustles? How long have you had them?

September 2019: Budget Transparency

Image provided by via Icons8 Team Photography

It’s September! That means it’s time to budget as best as any girl can. I haven’t lived at my place long, which is why my budget this month is rough. Please note that my mortgage is not due until October 1, so I am not including it in my budget this month.

Please note that my estimate for electricity was based on the budget billing from the previous owners of the house, my Hulu is free due to having Spotify Premium, and this is based off take home pay bills (meaning that health insurance, life insurance, and 401k costs are not included). I’ve also filled in the amounts of expenses I’ve already had to pay for September.

Image property of The Land of Money and Happiness

My hope is that I’m able to lower my utilities significantly in September and October, so that I’m able to raise my percentage of contributions to my 401k. As the economy continues to decline, I plan on investing more and more money as, theoretically, I should be able to buy more shares with less money.

What do your budgets look like? What do you enjoy spending your money on? Do you have a guilty pleasure?

8 Tried & True Apps that Pay

One of the best things that I ever did was download rewards apps on my phone. I’ve used them to pay for Christmas gifts, my cell phone bill, my electric bill…you name it, it can be done. You won’t get rich off them, but it is an additional income stream – something that is very important and I will talk about more later in this blog.

These apps can help you by helping you pay for items you’re already purchasing, so that you can put your money into savings, stocks, or a bunch of other ‘adulting’ activities (dog daycare, anyone?…actual daycare, maybe?).

The apps that I love the most are listed below:

1.) iBotta – this is the most recognized grocery store receipt redemption app. Simply upload your receipt, scan your grocery item as proof of purchase, et voila…you will have money back! So far, over the life of my account for one year, I’ve made $101. Again, it’s not much, but wouldn’t you take an extra $8.41 each month without doing literally anything more than what you’re already doing? Currently the app is giving a free $20 after your first receipt is reimbursed. What are you waiting for?! The minimum cash out is $20.

2.) HyperDrive – this app gives you points to redeem for gift cards while promoting safe driving. You get points for driving safely (not using your phone, not speeding, etc). I have had the app since July 2019, and as of this post I have made $10. The minimum cash out is $5.

3.) ReceiptPal – this app gives you points for your receipts. The points are redeemable for Amazon, Best Buy, Target, Lowe’s, Starbuck’s, VISA, and Walmart gift cards. I have had the app since July 2019, and as of this post I have made $10. The minimum cash out is $$5.

4.) Dabbl – this app gives you points for taking surveys and clicking links, on your phone. The points are redeemable for gift cards to Amazon, Barnes & Noble, Bass Pro Shops, Bed Bath & Beyond, Best Buy, Gamestop, Spotify, Target, and many many more. I have not been as active on this app, but I have also had it since July 2019. I have made $5 using it around once a week. The minimum cash out is $5.

5.) Fetch Rewards – this app gives you points to redeem for grocery store receipts. Not only that, once you’re a member you will be given a card for a program called SingleCare, which offers additional discounts on any prescription medication that you (sometimes saving 80%!). You can also submit e-receipts, which is rare for the receipt redemption apps. I’ve had this app since August and made $5.50. For a free $2 when you sign up, use the referral code ME2HC. The minimum cash out is $3.

6.) Streetbees – this app pays you with cash via Paypal that you can transfer to your bank account with no fees. For this app, you will be invited for periodic paid surveys (and not paid surveys, so make sure you’re paying attention to the reward if you’re looking to only make money). I will completely admit that this app has been somewhat difficult for me, as I’ve had issues with them not paying on time, however I have always ended up getting my money. Due to this, I’m not very active on the site, so I’ve only made $3 in the last month. The minimum cash out is $1.

7.) InstaGC – this app rewards you for surveys, games, clicks, video watches, and a multitude of other activities. I highly recommend this app as I average $8 – $10 a month using it by only letting videos play – I do not take part in their surveys often, but the earnings are high for surveys, and are an easy way to get even more points if it’s something you want to be dedicated to. I have them on in the background, on mute, and don’t even pay attention to it. So again, I’m making an average of $9 per month, doing literally nothing. Your points are redeemable for cash or gift cards. The minimum cash out is $1.

8.) Swagbucks – this app rewards you for surveys, purchasing offers, shopping with their links, taking polls, watching videos, and a bunch of other activities. This app is probably the most well known of any apps of similar style to InstaGC. Swagbucks has a minimum cash out of $3 for Amazon giftcards, which is all I tend to use it for. They do offer a Paypal payout that I take advantage of too, in addition to thousands of e-gift cards. I have made $217.25 over the last year with them. They are currently offering a free $10 to new account holders for referred accounts, so click the link above!

Photo from courtesy of Shopify

For those of you keeping score: I make an average $37.85 per month using all of these. Wouldn’t you love an additional $35+ each month without changing your lifestyle at all?

Watch this post here!

Navigating the Struggle Bus AKA ‘Adulting’

Image acquired from via Elliot Chau Photography

There’s a lot of people that think that ‘adulting’ is easy – they’re called children, and they’re typically between the ages of 5 and 18. The rest of us that are over 18 years of age know the truth: not only is it difficult, it just plain sucks most of the time.

Think you may have contracted ‘adulting’? Here are some signs the disease has caught hold of you.

1.) Do you get excited to go to home improvement stores?

2.) Do you say things like ‘my back hurts’?

3.) Do you actually care about things like a ‘Roth IRA’ or ‘meal planning’?

4.) Are people telling you that you need to know something called a ‘credit score’?

If you answered yes to any of these questions you too may be suffering from ‘adulting’.

But in all seriousness…adulting is hard, and as a millennial I feel like I was ill-prepared. Parents who worked full time jobs and supported the ‘everyone gets a trophy’ morale systems now complain about a generation of people who were not prepared for what life actually is. Instead, we graduate college with thousands of dollars in debt and not a clue where to go in life or what to do.

The school system taught us advanced calculus instead of how to do our taxes, the rules of football instead of how to keep our bodies healthy, and flight simulation in Industrial Tech instead of how to put together a table shipped in from Amazon. All of the things we were being taught helped some students, but they didn’t help most.

The purpose of my blog is to help educate people on how to survive this world we’ve been thrust into, enjoy the ride, and to do so while simultaneously improving our lives. I want to live a champagne life on a beer budget, and if you’re reading this, I bet you do too! Let’s do it together.