Entrepreneurship

Build Things That People Want

One of the best parts of building The Simple Dollar came during the periods when I actually took a break from managing the site. I wrote a bunch of material in advance, locked everything down, and essentially took a break from managing the site for a while. During those down periods, the income from the …

Why Self-Employment and Early Retirement Go Hand in Hand

In 2012, I left a steady and rewarding 9-5 job to pursue my side hustle full-time. While it’s true I had gotten extremely tired of working 70- and 80-hour weeks, that wasn’t what finally pushed me over the edge. In addition to craving more autonomy and better work hours, I also wanted to work my …

How to Make Money Dog Sitting With Rover

Just because someone owns a dog doesn’t mean they never want to travel again, but it’s not always practical to take the pupper on a seven-hour flight with layovers. That’s part of the reason the pet sitting industry brought in $332 million in revenue at 720,000 households nationally in 2014, according to Pet Sitters International. That’s a whole lot …

When to Use an SEP IRA

Just a few decades ago, opening a simplified employee pension — otherwise known as an SEP IRA, a retirement plan for self-employed workers — wasn’t a big concern for most people in the workforce. Times were different then. Whether or not you graduated from college, the story was often the same: Most workers were employed …

Best Small Business Loans for 2015

Right now could be the best time to find a small business loan since the 2008 subprime mortgage crisis. Better economic conditions and a big increase in competition mean lenders are willing to slash their rates for good prospects. Unfortunately, that doesn’t mean it’s easy to obtain a small business loan from traditional banks. You …

Best Web Hosting Providers for 2015

Whether you’re an established small business or have started a blog or other website that’s gaining popularity, the best web hosting company will help you project a professional image and handle increased traffic. The best website hosting companies will also give you enough space and bandwidth for your needs, a range of customizable features, and …

20+ Ways to Make Extra Money to Pay Off Your Student Loans

You graduated college, started your career, but you still don’t have enough money to make headway with those student loans. While the best option would be to find a higher paying job or wave a magic wand — or find a magic job — that eliminates your loans altogether, there are some things you can do to …

50 Small Businesses You Can Start on Your Own

In the past, I’ve discussed how it’s a good idea to spend your spare time dabbling in entrepreneurship: It fills your time with something that you choose (and thus you enjoy) and sets up a potential long-term revenue stream. I also discussed how I got a side business going myself. But that was 2007, and …

The Ultimate Work-at-Home Job: Running a Bed and Breakfast

Running a brothel was never part of Debbie Miller’s plan. But 25 years ago, in rural Ohio, there were few people who understood the distinction between a luxury bed and breakfast and a house of prostitution. “The local county commissioners had no idea what a bed and breakfast was,” says Miller. “And because it was a rarity …

Four Businesses Kids Can Start Themselves

The Internet was buzzing recently about a 15-year-old New Yorker who rakes in $300,000 a year with her babysitting agency, Nannies by Noa. Noa Mintz saw a need for matching parents with suitable babysitters. She now oversees 25 nannies and 50 babysitters, and she receives 15% of their initial gross salary. While a nanny service …

Four Steps to Turn Your Idea Into a Business

What was the last great business idea you had? Do you remember it? What did you do with it? Did you write it down? If you’re like most people, you had a great idea, never wrote it down, told a couple of co-workers or your spouse, and let the idea fade away without taking any meaningful action to …

Five Side Hustles Even Your Grandma Could Try

Spending less than you earn is the No. 1 rule of personal finance, so increasing your earnings can immediately improve your financial picture. But depending on your job, it can be difficult to boost your weekly or monthly income. If you’re paid hourly, for example, you might be able to secure some overtime. But if you’re paid …

Small Business Saturday: Snow Is Money for Plowz & Mowz

For Wills Mahoney and Andrew Englander, snow is money. And so is an untended or overgrown lawn. The two former Syracuse University roommates are the creators of a pair of smartphone apps – Plowz & Mowz – that, as the names imply, are aimed at simplifying your life when it comes to snow plowing and …

Three Tips for Creating Profitable New Business Ideas

It seems like everywhere you look, someone is creating new business ideas and making a fortune. Just recently, a young entrepreneur sold his website for $85,000, and all he did was help people ship envelopes of glitter to their enemies. If that’s not creativity (or maybe just dumb luck), I don’t know what is — but I sure …

Is Your ‘Business’ Just a Hobby?

There’s an old Gershwin song that goes, “You say tomato, I say tamahtoe … let’s call the whole thing off.” Taxpayers and the IRS have their own version: “You say hobby, I say business.” The difference between businesses and hobbies is that you have to prove that your hobby is a business by passing not one …

Categories: Entrepreneurship, Taxes

How to Make Money Online Without Really Trying

The good news: Making money online is no longer a pipe dream. The bad? Who knows where to start? There are countless success stories of people earning passive incomes online, whether it’s from blogging, creating YouTube videos, or through a startup. Then there are others who make money online, but you’re not sure how, and you’re secretly hoping they’re …

Some Thoughts on the Parable of the Fisherman and the Banker

Over the last week, several people have sent me this story from a bunch of different websites. I’m not sure where it originated, but the first place I saw it was on Financial Mentor. Here’s the parable: The Parable of the Fisherman and the Banker An American investment banker was taking a much-needed vacation in …

Small Business Saturday: Meet SPOT, ‘the Uber of Parking’

For those living in overcrowded urban environments, the routine is familiar, and frustrating. You battle rush-hour traffic to get home each day, only to spend another half-hour (or more) cruising slowly around and around your neighborhood, in ever wider circles, in search of parking. And when snow is added to the equation, finding on-street parking …

This One Move Can Save You $1,000 a Year

It lets you shop endlessly on eBay. It keeps you tuned into the latest water-cooler gossip on Facebook. It allows you to follow photo stories of people — some you know, some you don’t — on Instagram. You can watch endless videos while waiting for the train. Access your email everywhere you go, and an entire music library right …

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