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Second Chances

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So my efforts in creating more income have shifted gears this week as I plan ahead for some big expenses in the coming year. While having a ‘day off’ with a sick kid at home I was finally able to begin (again) some of my sewing projects which have been neglected for months (if not some years).

Our couches were a gift a few years back, and while I am super grateful for them and they are fabulously comfortable, they did look very used, especially with a dog and two toddlers with sticky hands. We (DH and I) have been debating for a while if we should try and sell them and buy a new one ($$$$) or reupholster ($$$$) and since both include spending money eventually – I have been dying to DIY something myself.

And so I present to you our “second chance” couches:

And then a light bulb appeared over my head (well not literally) – If I can do this for ME, then surely I can do this for OTHERS ($$$)!

So I am very excited to start my ‘Second Chances’ business and already have a meeting with my first client tonight – wish me luck!

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Budget Income: Money Money Money not so Funny

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While expenses aren’t always calculated (up until now at least) you do however pretty much know how much you earn (assuming you are employed). Sometimes there are un-accounted sources of income that you wouldn’t really think of as income, that should be accounted for in your budget plan.

These “sources” can be any government stipends you may receive, for instance in my country we receive a child stipend every month. The amount isn’t enough to save me from all my trouble but it adds to my total income and helps me plan my budget more effectively.

Perhaps you are collecting rent from an owned property, or have a big savings account opening up soon that will give you an unexpected flow of cash. Perhaps you have a rich relative who came to visit and gave you some birthday/present money. These should all go into your “income” calculation box.

Once you have this final piece of the puzzle you need to match up your expenses vs. your income and begin with the final stage of trimming off the fat.