5 Side Hustles You Can Do From Bed

One of the most common questions I hear is how can I make a little extra money on the side without putting in too much time?

While we would all like to make more money while we sleep, starting a side hustle does take some effort. But there are a few options that require a little less work than others--- and can be done from the comfort of your bed or kitchen table.


Side Hustles on Money & Mimosas

The best part about these side hustle ideas is that you don’t need a huge investment to get started or need to develop a specific skill. Whether you’re saving up for a fancy trip or just want some extra spending money, it’s always a good idea to learn how to earn money in your spare time.

This is a small list of ideas to help you get started and spark your creative juices. And you can do them all from your bed!

  1. Transcribing podcasts and trainings. I used this service when a company hired me to create a 15-hour training for their accounting team. As a transcriber you earn a percentage of the overall fee. Check out Scribie for more information.

  2. Customer Interviews. A lot of companies use customer interviews to get feedback on new products. Ping Pong is a sweet service that facilitates those interviews remotely.

  3. Renting Out Your Car. In select markets, you can rent out your car on a daily or hourly basis to earn extra cash through companies like Turo. Nick and I used this service during our long weekend trip to Portland and loved it! According to Turo, the average car sits idle 22 hours a day, so their service is a unique opportunity to capitalize on those idle hours!

  4. Virtual Assistant Service. Virtual assistants provide administrative support, remotely. If that sounds like a fun side hustle you can create your own business or join an established VA company such as Freedom Makers (they hire military spouses) or Fancy Hands.

  5. Rewards Points from Credit Cards or Interest on Banking Account. The points from our credit cards have resulted in hundreds of dollars of gift cards and free travels. Also, the interest rates on your bank account balances can start to add up. Check out Radius Bank’s hybrid checking account for an easy way to earn cash on your checking account balance. Most checking accounts offer 0% interest, but Radius Bank actually pays you to store your money with them.

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This post is sponsored by Radius Bank.

5 Financial Must-Dos If You Are A Brand Ambassador or Independent Contractor

“Empowered women, empower women.”

 Introducing Maritza Barrios, the newest Socialite for Money & Mimosas

Introducing Maritza Barrios, the newest Socialite for Money & Mimosas

Money & Mimosas is a movement and on a mission to empower women with the financial tools they need to live their happiest, healthiest, and wealthiest lives. We believe that when women are in control of their money, they are in control of their lives.

As a part of our mission, we are committed to providing women with opportunities to advance their careers and build wealth. And we are so excited to be in a position where we can add our newest team member, Maritza Barrios.

Maritza is the reigning Miss San Jose with a goal of becoming Miss Universe. She is a rockstar brand ambassador and manager who has worked with over 200 brands. As she will say, she is “totally not a 9-5 type gal” and works tirelessly to create a unique career that allows flexibility in her schedule. Click here to learn more about Maritza.

Maritza, Socialite for Money & Mimosas

If you’re like Maritza, being a brand ambassador/independent contractor may be the best career fit for you. Here are some practical steps to take to set your career path up for success.

  1. Open a bank account. This should be solely dedicated to your brand ambassador projects. Every brand has a different pay schedule and it’s imperative that you keep all of your hours/payments organized and in one place. Our favorite bank account for this is Radius Bank’s Hybrid Checking. Unlike most checking accounts who offer zero percent interest, the hybrid account actually pays you for the money you deposit into it. Cha-ching.

  2. Calendar your payment dates and follow up a couple of days prior to confirm. This will help you manage your cash flow and plan for things like bill payments. Nothing is worse than expecting a payment on a specific date and it not being there!

  3. Set up an accounting system. As a brand ambassador and independent contractor, you are your own business! Be a boss and use a program like Xero or Freshbooks to keep track of your business related expenses and invoices.

  4. File for a business license. When you first begin as an independent contractor, keep it simple and file as a sole proprietor in your local area. Once you earn $70K+ gross (before taxes and expenses), it will be time to start considering a change in your business entity status to a LLC or S-Corp.

  5. Weekly money date. You already know that we PREACH having a weekly money date. The biggest step to remember during your date is to transfer a percentage of your earnings to your savings account. This is especially important as an independent contractor because there will be times when the cash coming in is lower than usual. You can avoid stress during these times by boosting your cash reserves.

    For more money tips, join the Money & Mimosas Insider list.


This post is sponsored by Radius Bank.

How to start your own home-based business

Author: Amy Collett

Do you find your current job to be boring or unfulfilling? If you find yourself craving a career that blends creativity with freedom, one that allows you the flexibility to work from home if you want to, then starting your own business might be a good option for you. If creativity is something that comes naturally to you, you might start out doing freelance graphic design work for your friends and family. If you enjoy mathematics, you might launch a business as an accountant. Whatever your interests are, entrepreneurship offers a little something for everyone.

You don’t need a lot of money or even a college degree to start your own business. Anyone can become an entrepreneur, although it takes a lot of patience, passion, and drive. From market research to business plans, there’s a lot to consider when starting a home-based business.


Here are a few tips:

Start a home-based business on Money & Mimosas

Boost your savings

Being an entrepreneur is not for the faint of heart. You should expect to devote a lot of time and finances to growing your business. As you are thinking about launching a home-based business, start adding money to your savings account. This will help you cover unexpected expenses (expect for everything to cost twice as much as you budget!) and create a cushion for the periods when income from clients may be a little slow. Check out Radius Bank’s high-yield savings account. Not only is it super easy to set up an account (it’s all online), but they have one of the highest APY rates on the market.

Using Technology to Stay Productive

There’s a lot that goes into running a home-based business, as you might imagine. One of the most difficult lessons to learn as a new business owner is how to track your time. Time management can be tricky for anyone, even those who don’t own a business. When you work from home, however, there are more distractions. It’s harder to get on a productive schedule when you have full flexibility and control over your daily schedule - and when you’re at home, on the couch, in your pajamas, within close proximity to a television, or surrounded by your children.

Start a home-based business on Money & Mimosas

Luckily, all entrepreneurs can take advantage of modern technology to help stay productive when you’re growing a business from home. Some home-based business tools are simply indispensable for entrepreneurs. For instance, to save time on invoicing, you might use Square’s top-rated free invoice app, which will let you send unlimited invoices for free. By invoicing clients easily and using programs like Square, Toggle, or Paypal, which have apps that let you invoice (and perform other crucial business duties) directly from your smartphone, you’ll save yourself time and set yourself up for success.

Getting Your First Customers or Clients

One of the main things people start to worry about when starting a business is where and how they will get their first clients. The truth is that there are many ways you can get your first customers. Some of the most straightforward and sober advice comes from business coach Rebecca Tracey, who recommends telling “as many people as possible” about your business just to get your name out there. The people who you tell could be friends, family members, former colleagues, your social media followers, or anyone else you can think of who might be interested in your products or services. Even if the people themselves aren’t in need of your services, they might be willing to pass your name on to someone they know who could use your help.

Start a home-based business on Money & Mimosas

Having trouble getting that first client? If you’ve tried everything you can think of and still haven’t had any success in obtaining those crucial first projects, you might try offering pro bono or volunteer work. Although it seems counterintuitive to do work for free, especially when you’re first starting your business, pro bono or volunteer projects can help you learn more about your industry and get more experience through working on real projects. These projects look great in a portfolio and, best of all, if your pro bono clients are happy with the work you provide, they may pay you for future projects or recommend you to connections who will.

You Can Do This

The tips in this article will help you find success as a business owner. Sure, starting a business isn’t easy, but it’s certainly something that many people can accomplish. Have faith that you can do it, even if you don't have a college degree; even if you aren't tech-savvy or have never owned a business before. Be willing to take risks, try new things, and take advantage of business technology, and you’ll be on your way to creating a rewarding career while working for yourself.

Want more business tips: Click here to join the weekly Money & Mimosas insider list.


About the author: Amy Collett is creator of Bizwell.org, a website that helps professionals and entrepreneurs build and strengthen their personal brand. She is author of the upcoming book, You, Exemplified: The Role of Personal Branding in Your Professional Life. When she isn’t helping clients boost their careers or businesses, she enjoys coaching her daughter’s soccer team and training to become a yoga instructor.


This post is sponsored by Radius Bank.




What should you charge for your services?

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A few years ago, I was introduced to a woman who was building a branding consulting business. We’ll call her Katherine. She was going through a tough time in her personal life. In the middle of a divorce with her husband of fifteen years, which left her in a financial strain. A strain that caused her, and her two kids, to move from a 30,000 square foot home in Beverly Hills to a 800 square foot apartment in the Bay Area.

After years of relying financially on her husband, Katherine was now in a position where she could not support herself.

For the last several years, she had worked at non-profits. While the causes were dear to her heart, the non-profits were not in a position to pay her a decent salary. but had not been generating an income for herself. Prior to marrying her husband, she had been an attorney in New York and had a brief career working for a branding agency. After applying to several agencies in the Bay with no luck, she decided that the best next step for her was to hang out her shingle as a consultant and tap her network of contacts for clients. She was getting traction for potential consulting opportunities, but for some reason had a hard time closing the deal. Or she would close the deal, but wind up doing it for free.

I remember being in that position of giving away my services for free and know, first-hand, that it is a fast-track to burnout.

A mutual friend of ours suggested that Katherine reach out to me. We met up for mimosas at the Rooftop restaurant in Walnut Creek, California.

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After a few minutes of getting to know each other, we jumped into chatting about Katherine’s branding business.

“So, how are things going as a consultant,” I asked.

“It’s ok,” she said. “I’m really good at getting in the door. I’ve great connections at large companies because of my non-profit work. But, I have a hard time getting paid.”

After asking her a few more questions, it was clear to me that Katherine lacked confidence (the biggest skill you need to be a business owner) and a structure for pricing her services.

The advice I shared with her about confidence will be another blog post. For this article, we’ll focus on answering the big question that many service based business owners have, which is “What should I charge for my services?”


As a service- based business owner, one of the most challenging tasks is accurately pricing your services.

Unlike product based business who have a fixed cost and then add a % above that to determine their price, you have to account for your time and expertise.

First things first, when a potential client asks this question, take a deep breath. You don’t have to share your prices in the conversation if you do not feel comfortable doing so. When you state your price, you want to come across as confident. The worst thing you can do is stumble over the first random fee that pops into your head. Because person on the other side of the phone will feel your hesitation and will begin to doubt if you are the right person for the gig.

Secondly, you want to ask them two clarifying questions to better understand their perspective.

  1. “What is the budget you’ve allocated to this project?” If they haven’t given it any thought, ask them to give you a ballpark range.

  2. “What is the timeline that you want this to be delivered?” If it’s a quick turnaround, then you will need to charge a higher fee.

If the project is under $2,000, you should feel comfortable stating that on the phone. If it is over $2,000, let them know that you will be putting together a proposal that you will send to them within the next five business days.

One of the most common misconceptions I hear from service-based business owners is that they don’t have an overhead. They think that it doesn’t cost them any money to run their business. But your time is valuable and it needs to be compensated.

In addition to your time, there are five key factors that need to be considered. These factors should not be delineated in your proposal. They are merely to help you calculate your total fee.

Money & Mimosas

 

  1. Your savings and investment. When you worked for a company, your retirement savings was usually matched. Now you have to cover that yourself. If you are saving for a home or to start a family, this should also be included. Be sure to include this in your calculation.

  2. Expertise. The amount of time you’ve invested in honing your craft is saving someone else the time from learning it. And time is money. Plus, your execution will be far greater than theirs because you are solely focused on developing this craft.

  3. Tax payments. Depending on your home country, you should plan on paying 15- 40% of your earnings in taxes.

  4. Healthcare. You are now responsible for covering your insurance costs and this needs to be included in your fee.

  5. Your salary. Don’t forget that you deserve to get paid, too! All the money should not go back into the business, some of it should go to you. Otherwise, you’ll be on the fast track to burnout.

Once you have calculated the above factors, summarize it in a proposal to the client! And don’t forget that you will want to have a business account ready to accept your payment.


Check out Radius Bank’s Business Tailored Checking! It’s made for the small, independent business owner (like you, Katherine and me!). And you will earn 0.75% on balances over $10,000.

For more tips on how to lead a financially independent life, sign up for my weekly Money & Mimosas Insider list