Tag: Millennials and Money

These Are The Best Side Hustles For Millennials In 2021!

July 13, 2021 /
Best Side Hustles
The Best Side Hustles For 2021!

Our generation is getting hungrier. Here are 10 of the most rewarding side hustles to make it happen in 2021!

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So you’ve learned about creating multiple streams of income for yourself, or you’re simply looking to make a little more money on the side. One thing is certain, your side hustle(s) might just be the initial step towards building financial wealth. Lets begin.

#1. Airbnb

Airbnb is a sharing service that offers opportunity for travelers to get cost-efficient accommodation wherever they travel to. This side hustle allows you to earn money for essentially renting out your property to people looking to opt out of high hotel rates. If you aren’t a property owner yet be sure to keep this in your radar!

#2. DoorDash

DoorDash is a courier company that offers service on demand. Dashers deliver food from all type of restaurants. The flexibility to choose when you deliver allows you to accommodate your schedule accordingly. This is perfect if you’re looking for a part time or weekend hustle.

#3. Mobile car wash / detailing

Mobile car detailing services are becoming a little more common. This gig requires a van or truck to move your equipment and get the job done. Although this hustle is mainly seasonal, creating relationships and building the proper clientele can secure your side hustle year round.

#4. Turn your hobby into a business

Whether it’s dancing, singing, producing, painting, climbing, collecting, restoring, you name it! You can monetize your content on YouTube through vlogs, DIY, and tutorial videos. If you’re a recording artist get your music distributed and get paid from streams! Find a way to make money doing what you love.

Read: How To Start A Thriving Online Business In 2021!

#5. Buy at wholesale cost, sell below retail market value

This is similar to flipping except you don’t need to add value to an item. You purchase items at a wholesale cost so you can retail them and make a profit margin. It’s wise to look at the current retail value of what you’re selling and price it just below the market while still profiting from the cost of your initial purchase. You can use websites such as Amazon, eBay, Facebook Market & Craigslist to sell.

#6. Babysit

If you love children and have a knack for taking care of children, babysitting can be a very rewarding side hustle. Plan your availability in accordance to your schedule. When you tend to help people, the reward seems to be greater for some reason. There’s just something amazing about the integrity involved with such a responsibility.

#7. Work a part-time job

If you’re a teacher already working part-time, find another teaching job to get the most out of your career. If you’re in the medical & healthcare industry working part-time, find that second part-time to increase your income and experience in the field. A part-time job or hustle (if you’re already working full-time) will increase your income, no questions asked.

Fiverr is a great way to teach online making it the perfect side hustle for millennials.

#8. Rideshare service

Companies like Uber and Lyft allow you to earn money by transporting people to their destination in the comfort of your own vehicle making it a perfect side hustle. Get paid to drive while potentially saving the lives of others by prohibiting them from driving under the influence.

#9. Party planner

Party planners take control of the design and presentation of a celebration in order to create an awesome experience that will always be remembered. Note down all the exciting details for every project. Discuss budget and come up with a fixed dollar amount to make this happen. Sell it and over-deliver. Budget on the price negotiated with the client and the profit is yours.

#10. Store and list your space

Neighbor.com allows you to list your drive space, garage, attic, or basement to store your fellow neighbors belongings. You essentially rent out space you don’t use to people that need it. It’s another great way your property can generate an income for you.

#11. (BONUS) Instruct or teach online with Fiverr

Fiverr allows you to instruct or teach just about anything online. Millennials are teaching people how to speak another language, they’re writing as freelancers, and teaching digital services. People are making anywhere from $10-$800 on services!

Read: Side hustles from home that make a ton of money

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Leave a comment below if you’re working in any of these side hustles!

7 Easy Ways Millennials Can Start Earning More Money

June 15, 2021 /
7 easy ways millennials can start earning more money

Millennials are always looking for ways to live their best lives possible. Well what better way to start then by earning more money. We all know in order to make this happen we must put in the work and take the opportunities that present themselves to us.

If you’ve become financially stuck and are looking for ways to increase your income then you’ve come to the right place. Subscribe to our newsletter to be notified when new posts are published. Here are 7 easy ways millennials can start earning more money.

side hustle ideas franknez.com

Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.

Lets get started!

#1. Earn More Money With Food Delivering Services

Earn more money with food delivering services
Earn more money on the side with food delivering services!

Food delivering services have become more and more popular due to customer demand and convenience.

Services such as DoorDash, GrubHub, Postmates, & Uber Eats are going to stay for a long time. Signing up is easy and delivering food is even easier.

Compensation varies between all companies so be sure to choose the right fit for you. You will need:

  • To be at least 18 years of age
  • Have a valid drivers license
  • Have valid car insurance
  • And have access to a smart phone
DoorDash, GrubHub, Postmates, Uber Eats, Make Money
  1. Doordash: approx. $13.92 per hour
  2. Grubhub: approx. $12 per hour
  3. Postmates: approx. up to $1,000 per week (delivering more than food)
  4. Uber Eats: approx. $8-$12 per hour

Millennials can earn more money by side hustling with food delivering services. What makes food delivering services such a great side hustle is that you can work when it’s most convenient for you as well.

It’s not uncommon for people to earn anywhere from $15-$25 per hour delivering food if you make the time for it. Not bad for an extra money, huh?

#2. Offer Ridesharing Services On The Side

Provide value by helping people safely reach their destinations through the use of ridesharing services.

Make more money with uber and lyft rideshare services
Earn money with ridesharing services

More than 2 million people are earning more money by driving for a rideshare service such as Uber and Lyft. And more than 103 million people use these services.

Like food delivering services, ridesharing also allows you to work at your convenience. Flexible hours make this service an attractive side hustle choice for millennials to earn more money.

Frank Nez How To Get Clients To Pay You When They're Past Due

Requirements

  • Must meet the minimum age requirement to drive in your city
  • Depending on your state, you must have at least one year of licensed driving experience if you’re over 23, and three years of experience if you’re under.
  • Clean driving record
  • You must be listed on the auto insurance to the vehicle being used
  • Must have a smart phone
  • Minimum of 4 door passenger car

#3. Open Your Own eCommerce Store

Earn more money on the side by opening your own eCommerce store. Sell goods online through Amazon or eBay.

Make money with eCommerce Stores Amazon and eBay

Selling goods online is easier than you think. Listing on eBay and Amazon is a simple process that doesn’t require more than 10 minutes to set up.

People are selling anything from:

  • Vintage Cards
  • Apparel
  • Games & Electronics
  • Books
  • Furniture and appliances
  • Literally ANYTHING and everything

If you have wholesale connection, you can sell items below retail price but above your costs to make profit.

Often times you don’t see the items you’re drop shipping. If you can ship them directly to the customer it makes the experience that more passive.

eCommerce is now being used in rural Asia villages providing people with opportunity and a new means of generating money.

Read: 5 Ways to Earn Leveraged Income: Start Now

#4. Write As A Freelancer

Freelancer

Start earning more money by writing as a freelancer. Large blogs are always looking for new writers to help produce content.

Freelancers are earning $15-$74 per hour!

Most blogs pay per post or excerpt which makes it a great way to earn money on the side without hindering your day to day job.

Freelancing also allows you to work during your free time which makes it a great side hustle for people who value flexibility.

If you would much rather work for yourself then I suggest starting your own blog.

#5. Make More Money Tutoring Online

Fiverr is a platform from which you can tutor people from all around the world straight from your computer.

Make more money with Fiverr!

People on Fiverr are making more money from home than ever before through the use of webcam communication.

Make money with fiverr franknez.com

This form of generating money from home has become very popular as you can offer more than just tutoring. People are also offer digital marketing services, video and animation tutorials, graphic designs, and so much more!

How Does It Work?

  • Create a gig – Sign up for free, set up your Gig, and offer your work to Fiverr’s global audience.
  • Deliver Great Work – Get notified when you get an order and use Fiverr’s system to discuss details with customers.
  • Get Paid – Get paid on time, every time. Payment is transferred to you upon order completion.

One thing all these side hustles have in common is how flexible they are. If you’re looking to earn more money outside your job then Fiverr could be a great option to go online.

#6. Recycle At The End Of Every Month

earn extra money by recycling

It seems most people have overlooked this option but millennials can earn more money by recycling at the end of every month.

Yeah it’s a little messy and can be quite annoying but it can earn you anywhere from $30-$50 a month depending on how much you recycle. That’s enough to pay for gas or a few monthly subscriptions such as your Spotify and Netflix accounts.

Recycling is a great way to not only give back to your community but for you to earn money back on your purchases.

#7. Sell Organic Foods From Home

This is another side hustle that most people miss.

If you have access to organic foods from your garden, harvest and sell them in batches! Earn more money on the side by selling lemons, oranges, avocados, and just about anything your garden can produce.

You can join your communities or cities Facebook group and notify people of what you have to offer. Selling will be easier by keeping it local.

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Let me know below if you’re making more money using any of the side hustles listed above. Don’t forget to subscribe to the newsletter to be reminded when a new post is published!

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Best Ways To Use A Credit Card Responsibly

June 15, 2021 /
credit card

Like money, credit cards are merely a tool that allows us to build a financially stable world around us. Most people tend to abuse their power and get into financial trouble. Use it wisely and the investment will be well worth it.

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Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.

Build Your Credit

The best way to use a credit card is to build credit with it. Don’t apply for a credit card to buy things; this will lead you to financial ruin.

By building your credit you show lenders you’re responsible enough to borrow money and pay it back. Paying your credit card on time will boost your credit score which will allow you to qualify for bigger financial goals such as financing a car or purchasing a house in the future. Your future self will thank you for building your credit score!

Keep Your Limit Below 30%

The last thing you want to do is max out your credit card. This will have a negative effect on your credit score, OUCH! High utilization presents a high risk of falling behind on payments to the lender. Minimize the amount used to keep your credit score afloat. Keep your limit at or below 30%. If your credit line is $1,000.00 use up to $300.00 of credit.

Avoid The Quicksand

The moment you act upon impulsive purchases is the moment you give up your financial freedom. These choices will unfortunately result in a cycle of poor spending habits and lead you towards a world most people are trying to escape. Avoid the impulsive purchases, the transaction can wait.

Be careful when lenders increase your credit line. They will first increase it when you’re doing a great job of paying on time. The second time they increase it is a strategy to trap you in the quicksand. Don’t fall for it! Only use the 30% of credit line on the increase if you’re able to pay for it. You do not want to fall behind or make payments on large purchases. You will end up pay the banks money out of pocket due to the interest.

Smart Transactions

Use your credit card for expenses such as fuel, small groceries, misc. purchases for your home (lightbulb, screws, cleaning products, etc.), and in some cases, for an emergency. What all these things have in common is that they’re fairly easy to pay back for. These are perfect small ticket items to help build your credit score.

Make On-Time Payments

Figure out how to pay your credit card bill in the fastest and easiest way available to you.

Schedule automatic payments in order to avoid late fees. The responsible thing to do is pay your bill on time in order to keep building that momentum that will positively affect your credit score. Late payments never look good to a lender so prove yourself trustworthy and responsible!

Avoid The Interest

Avoid the interest rate by paying your bill in full. Once you start making minimum payments on a credit card your remaining balance will accrue in interest. Remember, a credit card is a tool so use it to your advantage, not for someone else’s.

If you used your credit card for an emergency and can’t pay it in full, close it in two to three large payments. One of the benefits of having a credit card is that if your personal savings have taken a hit, you’re not without temporary help. Be sure to close the credit card, work on your emergency fund, and continue to use it wisely so you won’t rely on it for another rainy day.

On Another Note

Transfer Debt To A 0% APR Card

If you have too much debt on a credit card consider transferring it over to a card with 0% APR in order to avoid the compound interest on it. This will allow you to catch up without any additional fees. Take advantage of not having the interest and reach your goal!

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How To Create an Emergency Fund and Why It’s Important

June 15, 2021 /
Emergency fund
Create Your Emergency Fund Today!

Creating an emergency fund isn’t difficult so learning how to start shouldn’t be either. Here are 4 amazing strategies and tips to building your nest egg for a rainy day.

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Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.

Lets get started!

When an emergency occurs, you’ll be ready

We can’t predict the future, but we can sure prepare ourselves for it when a rainy day disrupts our parade. Having an emergency fund allows us to have a peace of mind and also creates financial confidence. As Grant Cardone says, assume control of all situations; so prepare now so you’ll be ready later.

#1. Create an Emergency Fund Goal

When you don’t know where to begin, start by creating an emergency fund goal first. Everyone’s goal will vary due to income and the amount of debt carried. A good minimum would be $1,000 – $2,000. An ideal and longer term amount would be $10,000+.

Did you know that more than 50% of Americans can’t afford an emergency bill of $500? There is something seriously wrong with this.

DO NOT be part of this statistic, create your emergency fund goal right now. Literally right now. Just set it, and work towards manifesting it. YOU CAN DO IT.

Before you begin to build your hefty nest, make sure you’re debt free first. Contributions will be so much easier this way. If you’re not debt free, set the goal for your small emergency fund and work on eliminating debt before you start paying yourself first.

#2. Pay Yourself First

When payday comes, be sure to pay yourself first (SAVE). We often tend to splurge and sometimes put away what’s left. You know exactly what I’m talking about.

Paying yourself first is the complete opposite; spend after you’ve put money away towards savings. Check your calendar and see what must go towards your expenses. Deduct it from your earnings and focus on saving the portion that will help you reach your goal.

Find which week works best for you out of the month to save. Once your expenses have been taken care of, pay yourself first, and enjoy what’s left. If most of your income covers your expenses be sure to check out my post on the 7 easy ways millennials can start earning more money to see how you can earn extra income.

Now that you have your target, you understand how much you must put into savings every month to meet your emergency fund goal. Do what you have to do in order to make this happen.

Here are some quick ways you can earn extra cash:

  • Recycle
  • Deliver food
  • Offer ridesharing services
  • Teach online with Fiverr

Make sure any additional cash is directed towards your money goals.

#3. Don’t Let Your Savings Collect Dust

This is where you take the first steps towards allowing your money to work for you. Put it in a high interest savings account.

Keep about a quarter of your savings in your personal savings account as liquid asset (money you can take out immediately). The more you put into your high interest savings account, the quicker you will reach your emergency fund goal through the amazing work of compound interest.

Here are some banks that pay you interest:

What about the stock market?

Invest in the stock market if a). you have no debt and b). you’ve built your hefty emergency fund worth 3-6 months of living expense.

Read: How To Invest in The Stock Market (Step by Step)

#4. Be Consistent

In other words, discipline yourself to save for your emergency fund.

Saving money might seem like a sacrifice at first but by being consistent you’re now creating a great habit and financially stable life. Your future self will thank you.

Remember the importance of having an emergency fund. The benefits of being prepared include:

  • Having money in case of car issues
  • To cover emergency hospital bills
  • Security in case of a layoff
  • Financial peace for your family

The best way to carry out your mission on building your emergency fund is to put money away every month no matter how good or bad it was.

Develop this winner habit and you’ll be meeting your goals in no time.

Keep yourself motivated

If you find yourself losing motivation remember why you started in the first place. Nothing good ever comes easy.

Look for motivational and inspirational accounts on Twitter or Instagram. I personally post motivational content from time to time on IG.

Don’t stop at nothing.

Here are some life changing accommodations to help you save money

Save Money And Change Your Life
These Tips Require Discipline & Action | Start Saving For Your Future Today

1 – Don’t get into further debt. Wait on that awesome new car model that just came out. Perhaps work in your field a little longer before furthering your education. Remember, the more debt you have the harder it is to save.

2 – Start a side hustle. Use that additional income to add to your emergency fund and reach your target quicker. Don’t stop increasing your income.

3 – Live below your mean. This strategy will allow you to build your net worth so that you don’t live paycheck to paycheck.

Let me know in the comments below

Have you reached your emergency fund goal?

The readers would love to hear from you. Share your thoughts below.

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