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Friday, April 24, 2009

Making Money While In Between Jobs

By Ina Hikmatullah

Economic times are difficult, and subsequently, the decision to try out a new financial endeavor can be even more difficult than it was before. Thanks to the internet, however, there is the opportunity to earn income in increasingly diverse ways, particularly in the realm of residual income. Anything that allows you to earn income with minimal maintenance is considered residual income, and it can include avenues such as renters fees and royalties.

There is no such thing as a right time to start on a new business opportunity; any time can work if you have the proper mindset. Instead of worrying whether or not the time is right, consider whether or not you are ready to pursue a goal. To be able to turn your thoughts into dollars, you must have a clear plan on how to make it work. It does not matter if you are seeking a new business opportunity or want to find a new job. Residual income opportunities require a dedicated focus, no matter your reasons.

Creating an Atmosphere of Success

Finding motivation for any new project can be difficult, regardless of whether it is a financial venture or creative project. If you have negative factors in your life, such as financial or relationship problems, finding this motivation becomes even more difficult. However, you must remember that you are your own greatest stumbling block. Take the advice of a multiple life coaches and self help books and take control of your own life.

In fact, some of the most popular life coaches and self help books deal with this theory successfully. Consider the law of attraction, as promoted by "The Secret." According to this belief, if you want to have a desire realized, then you have to do more than just ask the universe for it " you must also believe that the desire will really come to pass. Philosophers throughout the ages have quoted similar ideas. To be successful, you must not only decide on what your goals are, but you must work to achieve them. If you go about it only halfheartedly, you will only see halfhearted results.

Creativity and Motivation

Once you have absorbed the teachings of your preferred sage, whether it is a self help book or "Star Wars," it is time to focus on the goal: creating residual income. There are many possibilities for creating steady income if you are open to exploring new business opportunities. For those with available cash supplies and the inclination, a real estate investment is a time-tested method of earning residual income. Creating rental income can require a good deal of time and expense in the beginning as you choose a location, the type of rental, perhaps refurbish the building and install renters. However, with some wise decisions and a touch of luck, you can expect a steady income every month from your rentals.

If real estate investment is not something you are interested in, or if you are lacking in the financial assets needed to start investing, then you will want to take stock of the assets that you do have. Remember that this goes beyond your bank account and includes your experience, knowledge, and passion. There may be some other project that you can get started on, such as writing a book, advertising on your blog, or inventing a product. Many ideas can be used to earn residual income if you have the time and the energy to pursue them. The opportunities are limitless for those with desire. And while self help may seem to be just a fad, it can help you create a steady flow of income, even in todays difficult economy. - 20611

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