A Small Dose of Money Reality

14 May A Small Dose of Money Reality

How much extra money do you need to make in order to make ends meet?

This is a vexing question for a lot of people. Most people spend right to their limit without much thought of saving ahead. Naturally we all know better, but it’s helpful to gain a little perspective on just what it takes to push a little over the top.

For instance, let’s say you want to top up your finances with an extra $500 a month. To a lot of people that’s a lot of money. It’s actually $6,000 a year, which is a significant raise if you’re an average income earner. But is it really possible to pull that much in on the side?

Perhaps you’re good with essay or article writing. You could hit an article site like Elance.com or Constant Content. This would be a good opportunity for a highly-rated writer to earn some extra money on the freelance market.

Don’t think so? Consider this:

In an average 30-day month, $500 works out to $16.67 (rounded up) per day. Certainly achievable by a diligent writer. If you only want to sell articles during work days, that averages out to 20 days per month, at a rate of a mere $25 per day. Since a good scale is to produce a 500 word article, and assuming the quality is up to par, this is absolutely not out of line for a productive writer.

Consider taking a hard look at your finances and deciding how much extra you need to accomplish whatever balance you’re looking for. Then break that amount down into a daily figure, either for the whole month or just weekdays. You’ll be surprised at how small the figure actually is, and how much more reasonable the prospect of a little extra work on the side becomes.