Saving Money in Pajamas with Haircuts

Building wealth requires making enough income to put a bit away each month. It’s usually a very long-term proposition that can literally take decades.  As I’ve already stated in another post, a dollar a day can really add up over time to be a substantial sum when compound interest and dividends come into play. I’ve pointed out that sites like SwagBucks and CashCrate can help you earn money on a regular basis. I’ve earned well above a dollar per day, much of it passive, from these two sources over the past three years.

Another source of building wealth is spending less than just about everyone else. A good way for men to save money is through haircuts. This advice might not work as well for women, as a standard set of clippers will not help them look all that great. Most guys have no problems cutting their hair really short. Of course, never cutting hair at all can also save money on haircuts.

I read an article on the Mr. Money Mustache site late last year about cutting your own hair and saving some serious bank. When I walked by a set of clippers with a number of different guards that allow you to manage different lengths for your hair and beard in WalMart while visiting family over Christmas break, I decided to pick it up. I’ve gone with a very short hair style in recent years (after going for over a year without a haircut back in 2010), so I figured I didn’t have much to lose. The cost for this clipper set from Wahl (which plasters that it’s made in the USA on its packaging) was a whopping $37. With tax, it came up to about $40.

I figured that I spend about $16 per haircut when a tip is figured in, and I only got one about every 3 months or so. Having my own set of clippers and a mirror could help me get my hair cut more frequently at a fraction of the cost. I would be ahead after just three haircuts, and I’m already at that point. Every time I cut my hair from this point on is just simply gravy, as the clippers amortize to a very small amount. For example, if I get 100 uses out of the clippers, I will pay about $0.40 per hair cut plus a few pennies for electricity. That’s way cheaper than $16 a pop that I would currently pay someone else to cut my hair, and that cost will probably go up with inflation in the next 10 years. I remember paying about $6 25 years ago. Those 100 hair cuts would have cost about $1,600 and many hours in a barbershop. Now, I’ve already spent the $40, and it only takes me around 10 to 15 minutes to crop my top.

Those $1,600 will probably add up to much more than that over time if invested in a mutual fund. Furthermore, I won’t have to sit in a barber shop or salon for many hours waiting around to get called to the chair. While I can’t really recommend this for women, most men could save quite a bit of money in this manner. A few smart moves like this to cut expenses can go a long way toward financial freedom. You could even use your earnings from CashCrate or Swagbucks to pay for your clippers, and that would compound the power of earning money in pajamas.

Top 3 Ways to Earn Money in Summer 2015

Because the educational system is still tied to the old-school agrarian way of life from the pre-industrial period, teenagers and college students, even in 2015, frequently have some time off during the summer. This becomes the perfect time to make a few bucks that can go toward the future or toward college bills. Money that can cut down student loans can be a great step toward financial freedom, because every dollar that’s not spent on student loans is a dollar that can be saved toward financial freedom. When it comes to getting money over the summer, here are three great ways to get ahead.

1. Look for a Job

The oldest way for teenagers or college students to make money over the summer is related to getting a job. Not only can getting a job earn money, it can also earn experience that can be useful after formal schooling is done. Many students have started their working life at McDonald’s, Burger King, Subway, or some other such eating establishment. Many kids today think that they’re above working at a fast food joint, but these jobs can actually be a great way to learn about hard work, teamwork, and paying attention to what superiors say. Many successful people have started out making money this way.

Fast food is not the only avenue of employment. While they get quite a bit of bad ink because of poor pay, retailers like WalMart and Target can be a way to get a foot in the employment world while making money.

2. Create a Job

Not every avenue for income will come from going to a business and having them give you a job. There are lots of successful people who’ve been able to make a substantial amount of money through their own entrepreneurial efforts. There are literally millions of Americans who hate to mow their lawns. Enterprising young folks who live basically anywhere a decent center of population (think a few hundred homes) can make a decent amount of money from doing yard work.

Few people enjoy cleaning up dog messes, yet our furry friends have to do their business in the outdoors. People who are willing to do a bit of dirty work have been able to make a good living. Setting up an ad and getting a few clients could potentially bring in hundreds, or even thousands, over the course of a summer. What’s needed to make money by creating a job is an ability to find a service that people are willing to pay for and then market yourself. Of course, doing a good job and being ready to do things that other people are not really all that keen on doing is an important part of the process, too.

3. Become an Online Entrepreneur

The Internet is much like the wild west. Although it’s much more organized today than it was in the wide-open days of the 1990s, there is still much money to be made online. Setting up a website does not take much effort, and those who do the job well can cash in. Teens and college students looking to make money in 2015 can make some great money.

The problem with the first two recommendations is the inability of many 13 to 15 year olds to take advantage of them. This is where some great websites come in handy. I personally utilize some sites that pay people to search the Internet or complete surveys or other painless tasks. I’ve made over $1,000 on CashCrate in this manner, and I’ve seen another individual who’s been able to make over $150,000 on the site. You’ll probably not come close to making that much, but $1,000 or more is definitely possible. You can sign up for CashCrate here.

My other big online moneymaker is SwagBucks. This site pays in virtual currency that people can then redeem for gift cards to major retailers like WalMart or Amazon. It’s also possible to cash in SwagBucks for PayPal cash. I usually take advantage of this last option, and I’ve been able to cash in at least $25 per month over the past year with a minimal amount of work while watching TV. Why not do something that pays off, rather than playing Internet games that earn nothing? You can sign up for the Swagbucks site and start earning cash here. This is truly earning money in pajamas.

Making money is an important step that everybody needs to start achieving. The earlier you start, the better off you’ll be in the future if you can keep from spending it all while saving it. After all, just a dollar a day can pay off in the long run. Making money at home in your down time can pay off in increased financial stability, and the time to start is now. These three ways to make money during the summer are a great way to start down that road.

 

The Power of a Dollar

A dollar–it’s made up of 100 cents. 100 copper (or copper-looking) coins with Abe Lincoln’s bust constitute a dollar. Many people think a dollar is pretty useless. Of course, there have been those Taco Bell commercials showing that a dollar can pay for a(n admittedly) small meal. I’ve had some comments on this site that have argued that a dollar a day in additional income doesn’t make that much of a deal in a person’s life. I would argue otherwise.

Teens can start making money today on sites like SwagBucks and CashCrate. Some naysayers complain that survey sites are pointless, but let’s get to the real point in these sites. They give people an opportunity to earn real money. Spending a few minutes every day can lead to at least a dollar. As long as this is surplus money for teens or adults, it can be very powerful.

I recently went onto an online savings calculator to see the value of a dollar per day over time. After a month, a dollar a day will add up to $30 and a few cents if put into a regular savings account. A year of earning a dollar a day more than what’s needed to handle expenses will yield a little over $365. Let’s say a teenager signs up for SwagBucks on their 13th birthday and earned a dollar a day, every day for the next three years. That would add up to more than $1,000 by the time they turned 16. This is where the process really starts to get fun.

A simple savings account will pay out about 1 percent (or even less) in interest per year right now. That means that each $100 invested will return $1 over the course of a year (with a few additional cents because of compounding). Once a person has $1,000, they can start to invest in a number of mutual funds. While these are not as “safe” as a savings account, over time, they tend to provide much higher returns. In fact, the S&P 500 routinely returns about 10 percent over a long period of time. A teenager will probably have 50 years before retirement (if they follow the crowd and spend most of what they earn). A relatively conservative portfolio can usually return around 7 or 8 percent over the long haul.**

I wondered what $1 per day would add up to if invested in a fund that paid 8 percent over a 50-year period. By checking with the online savings calculator noted above, a person could start with an initial investment of $1,000 at age 16 (the three years noted above) and then add $30 per month, every month for the next 50 years. If they could average an 8 percent return, which is quite possible based upon past history, their investments would yield a total balance of nearly $286,000 at age 66. This would be a great supplement to a pension, a retirement account, or Social Security.

While $1 per day for 50 years will add up to well over a quarter of a million dollars, an additional dollar per day will double that amount. Every dollar saved every day for 50 years would add another quarter of a million dollars. A teenager who started saving $4 per day, every day, for 50 years would wind up with more than $1 million by retirement age. That’s pretty exciting to think about. If a person could bring that return up to 10 percent per year, the dollar a day plan would add up to more than $600,000 over fifty years. That’s even more exciting to think about. You can go to this Bankrate calculator to play around with the numbers more.

While a get-paid-to or a survey site might not pay all of the bills of an adult, the additional dollar that can be earned can really pay off. A small investment compounds over time and add substantial income during your golden years. Compounded earnings are the best way to earn money in pajamas. If you’re looking to start earning an extra dollar (or five) per day, check out SwagBucks or CashCrate.

**Keep in mind that the long haul is different than any given year. For example, back in 2008-2009, the S&P 500 lost about 1/2 of its value in a very short period of time. It’s since gained back all that was lost and even gone on to new record highs. Many stocks will pay dividends each quarter that can ameliorate some of these losses in the share price, as well. Of course, past performance is no guarantee of future returns, so keep this in mind when investing and consult an investment professional to learn more.

Please note that I could earn a commission should you sign up for some of the programs listed on this site. I, as always, thank you for your support.

Final 2014 Online Earnings Report

I’ve spent the past couple of years writing this blog, with the first post coming nearly two years to the day prior to this one. In these two years, I’ve set online earnings goals. The first year, I came up short of my $5,000 goal. I set a goal of $450 per month in 2014. That was a total of $5,400 for the year. I came very close to meeting this goal during the year.

I started out the month of December with $4,777.11 in online earnings for the year. This is money that I’ve won while sitting in my recliner, while I’ve been in a foreign country doing short-term mission work, and while I’ve been sitting in a hotel room on vacation. This is over and above my regular paid work. I continued earning money in December. I earned through a few income streams. Here is the money I earned in pajamas during December:

Freelance writing: $466.62

Swagbucks: $50.00

Treasure Trooper: $20.27

This brought my total earnings for December up to $536.89, which was over my monthly earning goal by just over $86.  When I combine this money with the more than $4700 I’d earned through November, my final earnings for 2014 were exactly $5,314. This was just $86 less than my goal for the entire year, which was not terribly shabby, if you ask me. If I am able to keep this up for the next 15 to 20 years, it will definitely add to my retirement funds.

I am not planning to keep a diary of my online earnings after this point, but I think that I’ve at least partially been able to show that, yes, it is quite possible to make some money on the Internet without leaving home. While few people would be able to live on what I’ve made as a main income, this money definitely provides a nice supplement to my main job. I will continue to post other ideas for making money in the future.

November Earnings Report

November was one of the slower months of the year when it came to my online earnings. I continued to make some money, but the amount was a bit lower than most other months this year. I inched closer to my online earnings goal for the year by earning:

Freelance writing: $268.67

Swagbucks: $50

MTurk: $6.30

These earnings added up to $324.97, and this monthly total has my annual online earnings up to $4777.11, just over $600 short of my annual goal, which is definitely within site based upon some of my previous monthly earnings totals. I’ll be sure to update my earnings one final time before the end of the year to show whether or not I’ve made my goal.

I’ve Earned $1,000 with CashCrate

Earning money on the Internet without leaving home will usually require a few different income streams. One of the earliest income streams I found was the Get-Paid-To website CashCrate. Some people might wonder if CashCrate is a scam. I can definitely verify that the site is legit. Not only does it pay, I’ve been able to earn more than $1,000 in just over two years dealing with the site. Here’s the proof–a screenshot of my earnings page:

Here's the proof that I've made $1,000 on CashCrate

Here’s the proof that I’ve made $1,000 on CashCrate

CashCrate users can earn money in a variety of ways. Checking in on the site pays $0.03 per day, and there are frequently videos available to watch at $0.02 per pop. These are good to work with while doing other things. Multitasking can add to your stash of money over time. Filling out surveys and completing cash offers are more lucrative. CashCrate also has a solid referral program that can pay dividends for those who work at it.

New users can sign up for CashCrate and get a $1 bonus for their trouble. Payouts on the site start at just $20, and I’ve earned anywhere from the minimum to $300 in any given month. Your earnings will vary should you sign up, but I’m far from the leader as far as earnings are concerned. I’ve seen one individual with nearly $160,000 in earnings and another with about $70,000. While you will probably not get anywhere near this level, earning a few bucks a month for extra spending money or saving can be pretty easy to accomplish. Of course, perseverance is necessary, because sometimes it can be difficult to qualify for some of the surveys. Signing up friends and family can also pay off. I must confess that I’m always happy to cash the check I get from CashCrate. If you’re looking to earn more money without leaving home, sign up and give CashCrate a try.

**Please note that I could receive compensation should you sign up for the programs reviewed on this site. Should you choose to sign up, I thank you for your support.

My October Earnings Report Earning Money Online

We’ve now made it into November, the month with all of the turkeys and stuffing. There’s quite a bit to be thankful for. I’ve been able to successfully earn quite a bit of money online this year. I started the month of October with over $4,100 in online income through a variety of sources. As I have in all of the other months this year, I was able to make some more money in October. So, without further ado, here are my online earnings for the month of October 2014. Some was passive, but most was active. My goal is to increase passive income over time.

Freelance writing: $339.73

CashCrate: $34.01

Swagbucks: $25.00

MTurk: $4.90

TOTAL earnings for October: $403.64. My new total for the year is $4,452.14. I’ve already got some money in the hopper for November, so this total is going to increase. How much is still up in the air, but it should sail over the $5,000 level by the end of the year. My goal is to prove that making money online from home is possible, and I think I’ve done it. I’ve even gone over $1,000 in CashCrate earnings in just over two years.

Earning Money in Pajamas in September

I’m still plugging away at an attempt to make money online this year. I can’t go at the rate that some people do because of a full-time job. However, an hour or two a day can really add up to real money over time. How much I make depends upon how busy I am during the week. I set a goal early this year to see if I could average $450 per month over the course of an entire year. I’ve been above this level on a couple of occasions, and I’ve been below it at times, as well. I continued my work in September. July and August were slow months because of extensive travel in the US and Central America. Here are the streams that I drew income from in September:

Freelance Writing: $384.97

Swagbucks: $25.00

Total earnings for September $409.97

When added to my previous earnings for the first eight months of the year, which came to $3,738.53, I’ve now earned a total of $4,148.50 for the period January to September. I am nearly 77% of the way to my ultimate goal with 25% of the year left, which means I’m ahead of schedule. I’ll have additional streams of income this coming month, which will a good way to increase my earnings. How are you doing on your earning goals this year?

July and August Earnings Report

I’ve been tracking my online earnings for the past two years. Last year, I came up a bit short in terms of my goal. This year, I sat an ambitious goal that was higher than it was last year. My goal included $450 per month in online earnings. That equals out to $5,400 for the year. Through the first half of the year 2014, I was able to earn $2,904.95. I continued to work on earning money in July and August. Here are the combined earnings that I was able to bring in through online activities during these two months:

Freelance Writing: $756.08

Swagbucks: $50.00

CashCrate: $26.84

Qmee: $0.66

The total amount that I earned over these two months was $833.58, and this, when added to my earnings from the first half of the year, equals a year-to-date online earnings total of $3,738.53. That puts me at 69.2% of my online earnings goal with 1/3 of the year left. My goal has not changed, and I think it’s really looking as if it’s in reach.

Adding Qmee to Your Online Earning Options

In the past couple of online earnings reports that I’ve given, I’ve included a few cents here and there from a program called Qmee. This is one of those search and earn websites that I’ve written about before. I just came upon it in the past few month. It appears that the site shares the ad revenue that it gets from certain advertisers.

Getting Qmee added to your browser is pretty easy. You can sign up for Qmee here, and then you just download the program and it will add a little widget to your task bar like so:

Qmee Widget

The Qmee widget on my Chrome browser’s task bar

 

This is a screenshot of my Google Chrome browser. I’ve noticed no ill effects to my computer since downloading the program. You can search with just about any major search engine. I’ve been able to earn using both Bing and Google. When you use a search query that pays out, Qmee will add certain additional results that will pay out if you use them. Here’s an example of just such a search:

Qmee results

Qmee Search Results that Pay

Note that I will get 5 cents from visiting one of the sites listed. I’m a Marriott Rewards member, so I can then fumble around on there for a few seconds and earn a nickel. Are you going to get rich using Qmee? Probably not, but it is a legitimate way to earn a few bucks here and there for doing what you’re doing anyway. The coolest thing about Qmee is the ability you have to cash out at any time and at any level. If all I had in my piggy bank (yes, your funds are held in what looks like a piggy bank) was the 5 cents that I just got from clicking on Marriott.com, I could cash it out to PayPal right then. It would be in my account literally within minutes (I’ve checked). If you just click on the widget in the first image above, it will then look like this if you’ve signed into the program:

Qmee Cashout

How to Cash Out with Qmee

You can then click on the “cash out my piggybank” and then transfer the funds to PayPal. Again, this will not pay off your car next month, unless you owe less than $5.00, but it can add up to a bit of pocket change over time. If you wait all year to cash out, you might have enough for a meal, but hey it’s basically free money that you’ve been able to earn in your pajamas without leaving home while doing something you’d be doing anyway. Again, you can sign up for Qmee here.

Note: If you decide to sign up for Qmee, I can be compensated on your first cashout. I appreciate any and all support.