(I'm just now realizing Fixed Income Friday does not have a banner! How's this one:)
Last week, I talked about avoiding Target because it is a trigger for me.
(We talk about triggers in education, and it means things that cause certain behaviors in students. Target is a trigger because I want to spend money on the stuff that they have that I don't really need, like colorful cardigans and $2 pastel junk.)
This week, I want to talk about making extra money, because people are talking about that all over the internet.
A LOT of my friends on Facebook are trying to make a little extra money by selling stuff like leggings and skin care. Lots of friends also repurpose/restyle furniture to sell. Friends are offering their services as tutors/babysitters/decorators, etc. Friends make things like cakes or crafts. It's a veritable feast out there, if one is interested.
However, it has come to my attention (thanks, Kay!) that many of these supplemental income opportunities come with a hefty price tag attached. The expectation of the company is that you will sink a good portion of your own money into your (really their) business before you even begin selling the stuff. Then you sell the stuff to your friends and maybe you'll make your investment back.
But maybe you won't.
Here's a article about MLM home-based businesses from Forbes, a respected business publication. In essence, there's nothing wrong with MLM entrepreneurship, as long as you do your homework. Make sure the company is reputable, and make sure you believe in the product. Nothing is worse than watching someone first sell this skin care line, then sell this jewelry, then sell something else entirely--you know they're either not making money or they don't believe in the product.
Another way that people make extra money is selling their stuff, either through an on-line yard sale/craigslist or at a more permanent location. We'll have more about that in our next Fixed Income Friday. See you then!