How I Make Money On TikTok – How I Grew To 350,000 Followers and Made $60,000 In 6 Weeks

Do you want to learn how to make money on TikTok? Here’s how Tori grew from 0 to 350,000 TikTok followers and made $60,000 in just 6 weeks. 

how to make money on TikTokUnless you’ve been living under a rock, you have probably heard something about TikTok. TikTok is one of the most popular social media networks currently, and it is growing like crazy.

There are already over 500 million active monthly users on TikTok around the world.

So, you may be wondering if you can learn how to make money on TikTok, and any TikTok tips so that you can see success too.

That completely makes sense!

Today, I want to introduce you to Tori Dunlap.

Tori Dunlap is a nationally-recognized millennial money and career expert. After saving $100,000 at age 25, Tori quit her corporate job in marketing and founded Her First $100K. She has helped over 200,000 women negotiate salary, pay off debt, build savings, and invest.

I met her a couple of years ago in person, and she has built an amazingly successful business. I’m in awe of what she has done, and I enjoy her creative ways of helping people improve their money situation.

I asked Tori to take part in an interview on Making Sense of Cents about her explosive TikTok growth. She went from 0 to over 350,000 TikTok followers, and made $60,000 in just 6 weeks on TikTok.

In this interview, you’ll learn:

  • About Tori’s background and why she decided to start on TikTok
  • How she grew her TikTok to over 350,000 followers in 6 weeks
  • How she has made $60,000 just from TikTok in 6 weeks and how to earn money from TikTok
  • The tools needed to create TikTok videos
  • The length of time it takes to make each TikTok video
  • Whether there is room for new TikTok accounts
  • Her top TikTok tips for a newbie

And more! This interview is packed full of valuable information on how to earn money on TikTok.

I know so many people have questions about TikTok, such as how to grow on TikTok, how to make money from TikTok (including, how much money do TikTokers make?), and more, so hopefully you will find this interview both interesting and informative!

You can find Tori on TikTok here.

Related content that you may be interested in:

  • How Sailing SV Delos Makes Money on Youtube
  • How This 34 Year Old Owns 7 Rental Homes
  • How Amanda Paid Off $133,763 In Debt in 43 Months
  • How One Blogger Grew His Blog to Over 2 Million Visitors In A Year

Here’s how to make money on TikTok.

 

1. Tell me your story. Who are you and what do you do?

I’m nationally-recognized millennial money and career expert. After saving $100,000 at age 25, I quit my corporate job in marketing and founded Her First $100K to fight financial inequality by giving women actionable resources to better their money.

I’ve helped over 350,000 women negotiate salary, pay off debt, build savings, and invest — and I firmly believe that a financial education is a woman’s best form of protest.

A Plutus award winner, my work has been featured on Good Morning America, the Today Show, the New York Times, PEOPLE, TIME, New York Magazine, Forbes, CNBC, and more.

Before becoming a full-time entrepreneur, I led organic marketing strategy for Fortune 500 companies—with clients like Amazon, Apple, Facebook, Nike, the NFL, and the Academy Awards—and global financial technology start-ups. For almost five years, I specialized in social media, SEO, content, and influencer marketing to grow community and increase awareness.

I now travel the world writing, speaking, and coaching about personal finance, online businesses, side hustles, and confidence for millennial women.

 

2. How long have you been on TikTok? Why did you decide to start a TikTok account?

I only really started doing TikTok for my business in the last 6 weeks (and gained almost 350,000 followers in the process, which is wild.)

I knew that you could see accelerated growth on the platform — it’s the only main social platform that currently has more people consuming content than creating it — and it fit well with my brand.

I’m passionate about financial education as a form of protest, and making money conversations inclusive — meeting people where they are on TikTok seemed like a perfect way to do that.

To me, going viral and gaining 350,000 followers in such a short amount of time is proof that Gen Z is craving personal finance advice.

 

3. How did you get your TikTok account to explode?

I was shocked by the growth, and I’ve never seen a platform that is so creator-friendly (Facebook, for example, has become more and more business-focused.)

In terms of followers, it took me 3 days to do on TikTok what it took me 3 years to do on Instagram. But I was ready for it — I have an established, global business, credibility, and products to sell. As a former social media manager, it’s a reminder that consistency, credibility, and serving before selling are what grows your account — not paid ads or manufactured authenticity.

The big shift was a video that went viral (as of this writing, it has 3.5 million views and over 730K likes.) Having gone viral multiple times before, this was next level — I was getting 100 followers every 5 minutes.

It’s more than doubled my website traffic, increased my sales, and grown my credibility.

how to monetize tiktok

Tori’s TikTok

4. How do you make money on TikTok?

I make money through promoting my own products (like my resume template and side hustle courses) and my affiliate partners.

For example, I might talk about high yield savings accounts and send folks to the link to my affiliate bank partner.

In the last 6 weeks, I’ve made over $60,000 just from TikTok.

Now that I have a substantial following, I’m also monetizing my platform with brand partnerships, and showcasing products I believe in.

Related: 10 Easy Tips To Increase Your Affiliate Income Free Guide

 

5. How do you decide on your TikTok video ideas?

Just like the rest of my content, I focus on creating actionable resources for my followers.

Most of the questions I answer in my videos or advice I give comes from someone asking me about it, which guarantees I’ll have consumers of that content because I know it’s valuable for them.

Your audience will tell you what they want to see!

One of the smart things I did was waiting to become a creator. I was a consumer on TikTok first, sharing and enjoying videos before I started creating my own. Doing so helped me understand trends, what content well, the way the videos were shot. I got to know the landscape and followed creators doing good work.

So much of TikTok is collaborative creation, so I’ll often duet with another creator and offer my two-sense, or will be inspired by a trend or sound I see elsewhere.

 

6. What tools do you need for your videos? Is it simply your phone?

Your phone is the biggest thing you need. I also invested in a ring light/tripod to make it easier to shoot content, and to make sure the lightning was decent.

If you want to do more advanced videos, you might need editing software, a more professional camera, or props.

There is a learning curve with understanding how to shoot videos, and I was too intimidated to start for a while.

Don’t let that scare you: just like anything, it’s easy once you get the hang of it.

 

How do you get paid on TikTok?

Some of Tori’s TikTok videos.

7. How long does it take you to make each TikTok video?

Batching content has helped me save time, so I make about 5-7 videos in one session.

Because we’re still in quarantine, I often shoot without camera-ready makeup, which I think adds to the spontaneity and authenticity of the video.

I’ve also made the decision to not change clothes for every single video, it just seems like overkill.

My 15-second, talk-to-camera videos take about 10 minutes — 3 to shoot, 7 to add text and a caption.

More in-depth videos — with green screen effects or lots of text that moves — can take about a half hour.

I try to intersperse content — not only for variety’s sake, but also to keep myself sane.

 

8. What do you like about making TikTok videos? What do you not like?

Instagram has started to feel more and more like work, while TikTok allows me to be more creative.

As a theatre major, it’s a perfect platform for me to make weird faces, perform, and showcase my personality in addition to my advice.

I’ve also found TikTok a more welcoming environment. You’ll always have trolls and hateful comments, but I’ve found there’s more support and encouragement from people who aren’t following you on TikTok than on other platforms.

I really love and engage with Instagram Stories, and TikTok doesn’t have a feature like that (yet.) Stories are a good way for your audience to learn more about you and your business in a less polished way, so I think it’s harder for someone to get to know you on TikTok.

Captions are also WAY shorter, and you cannot post your hashtags in the first comment, so any explaining you need to do through text needs to be in the actual video.

 

9. Do you think there is room for new TikTokers?

YES!

More than any other social platform.

Instagram, for example, is very saturated. It’s almost impossible to discover a new account within the platform, unless a friend directly shares it with you. You’re really only seeing posts from people you already follow.

TikTok has a following tab, and also a “For You Page” tab, where they show videos they think you’ll like.

I’ve never seen an algorithm as responsive as TikTok’s, so you’ll find content that actually connects with you and your interests.

 

tiktok tips10. What tips do you have for someone wanting to start on TikTok?

Content that does well is at least one of the following: aspirational, educational, or entertaining.

You have travel vloggers showcasing their Airbnbs in Paris (aspirational), vegan chefs walking you through a recipe (educational), or a thrill-seeker trying a new stunt (entertaining.)

I found my niche between aspirational (talking about how I left my 9-5 job and built my business) and educational (how to pay off debt, invest, etc.)

Like any social platform, consistency is key. TikTok is like Twitter — you have the option of posting 7-10 times per day (and not being punished by the algorithm.) I usually try to put out 2-3 videos per day, some more complicated than others.

 

11. Are there any other TikTok tips you would like to share?

Don’t invest in TikTok unless you know your audience is there.

For example, if your potential customers are men in their 50s, they’re probably not on TikTok.

When I worked in marketing, it was easy to chase platforms or trends. It’s easy to feel like you need to be everywhere in order to make sure you’re relevant.

But if the audience you’re looking to target is largely not on a platform, don’t invest time and money in it.

Do you want to learn how to make money on TikTok and how to grow on TikTok?

The post How I Make Money On TikTok – How I Grew To 350,000 Followers and Made $60,000 In 6 Weeks appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

Hitting the Books Again? Here’s How to Financially Prepare for Grad School

Deia Schlosberg had been working as an environmental educator, teaching students about issues concerning conservation and sustainability. While she loved teaching, she wanted to reach people on a larger scale about the importance of protecting the environment. So she decided to follow her dream of becoming a filmmaker—a dream that would require her to return to school for a graduate degree. She had no idea at the time that it would lead to becoming an award-winning documentarian.

While Schlosberg’s choice may have paid off, learning how to pay for grad school as a working adult can be a challenge. There are various benefits to getting an advanced degree: You can learn more, you can earn more, you can further advance in your current job or prepare for a career change. However, you might also find yourself stressed by the expense and resulting debt of it all, especially if you have kids, a home or other financial commitments. So a big question on your mind could be, “How much should I save for grad school?”

To financially prepare for grad school it’s important to weigh the benefits and stressors that surround getting an advanced degree.

Below are some lessons on how to financially prepare for grad school to help you determine if and when you should go back to school. If you haven’t yet decided if graduate school is right for you, see section 1 for tips on how to decide. If you already know you want to go back to school, skip to section 2.

1. Decide if going back to school is right for you

Getting an advanced degree may seem like a ticket to success, but depending on your chosen area of study, the outcome may vary. For Schlosberg, it was a bit of a risk. It can be difficult to get a break in the film industry, and going to grad school could mean carrying around debt for a long time. Is this the type of outcome you would be willing to accept?

According to Emma Johnson, best-selling author, career consultant and founder of Wealthysinglemommy.com, there are a few things you can do to help you decide whether or not going back to school is right for you:

  • Do your homework. When considering how to pay for grad school as a working adult, research your degree options and the jobs to which they might lead. Compare cost and compatibility—for instance, will classes for the program align with your work schedule? Once you’ve determined what kind of occupation you may pursue after grad school, search online for information about that occupation’s average earnings.
  • Solidify your goals. You may find clarity in writing out your goals for going back to school. Some benefits are tangible, like earning more money, building a professional network and gaining skills. Others might be less tangible, such as finding personal fulfillment. Once you know your goals, it will be easier to determine if a graduate degree makes personal and professional sense.

“Your savings should not only depend on tuition but also what the degree is—i.e., how easy it will be to repay once you are working in the desired field.”

– Deia Schlosberg, filmmaker
  • Give your degree program a test run. Consider taking classes that relate to the degree you are interested in getting in grad school. These classes can give you a taste of the subject matter you’ll be studying and help you meet people involved in the field. Also, if prerequisites are required for your advanced degree, they often cost less online or at a community college, which is important to remember when thinking about how to prepare your finances before grad school. Make sure the course credits will be accepted at the graduate school you plan to attend.
  • Take a hands-on approach. To level up in your existing career or find out what it’s like in a new field before making the change, get some work-related experience first. For instance, to learn more about moving up in your own field, get out and meet those higher level professionals by attending conferences and networking events. The same tactic applies if you want to change careers.

2. Know how much you need to save

How to pay for grad school as a working adult can be complicated, but you’ve decided you’re ready for it. Plus, hitting the books at a time when saving for retirement or your child’s education could be at the forefront makes the task of how to prepare your finances before grad school even more critical.

Understanding how to prepare your finances before grad school becomes more complicated if you’re also budgeting for a retirement plan or child’s education.

Figuring out how much to save for grad school begins with determining the cost of attendance. Here are a couple ways to do that, according to Johnson:

  • Do the research. Once you have found a school and degree that you like, visit the school’s web site. Some schools may provide the cost of tuition, fees and estimated costs for books, supplies and transportation. Costs can vary tremendously, depending on various factors: whether you attend full or part time, whether you attend a public or private school, whether you are an in-state or out-of-state resident and the time it takes to get your degree.
  • Determine your budget. Once you have a handle on the school-related costs, build a spreadsheet that accounts for these costs and projects monthly income and living expenses. Working through a savings plan beforehand can help you financially prepare for grad school by showing just how much you’ll need to budget for monthly on tuition plus living expenses. Once you determine these factors, you’ll get a better idea of what you need to save up.
  • Create a savings buffer. After you determine your monthly costs, pad that number. “Your savings should not only depend on tuition but also what the degree is—i.e., how easy it will be to repay once you are working in the desired field,” Schlosberg says. She saved a little more than she estimated, giving herself an extra cushion to cover some of the potential risk to her finances.

“You may have to downscale your career and current lifestyle to go back to school, which may be a worthwhile investment of time and resources.”

– Emma Johnson, career consultant

3. Allow yourself a flexible timeline

One key factor in planning the timeline for earning your graduate degree: Don’t be in a rush. If you need to, create the time to save. It may not be necessary to go back to school full time or finish on a particular schedule, Johnson says. She mentions these possible paths to earning your degree when planning how to pay for grad school as a working adult:

  • Consider a side hustle. One option is to go to school full time and take on a side hustle. You may not make as much as you did as a full-time employee, but the income can complement your savings. It may also allow you to concentrate more on your degree and finish faster.
  • Attend part time. Go to school part time (nights and weekends) while working. It will take longer, but it will also minimize your debt, which could be better in the long run.
  • Take it slowly. Only sign up for a class or two—whatever you can afford—and continue to work. This part-time “lite” approach may take even longer, but could help you avoid overextending yourself financially or sliding into debt.
  • Take online classes. Consider online programs that could lower the cost of tuition and allow you to continue working full time.
If you’re wondering how to pay for grad school as a working adult, consider attending school part time and taking online classes.

4. Take advantage of potential cost-saving benefits

So you’ve done your research on how much you need to save while determining how to prepare your finances before grad school. But there are ways to potentially cut or eliminate some of those costs. What comes next are some solutions that may help pay your grad school bills:

  • Consider loans, financial aid and scholarships. “I took out some student loans for living expenses, but I tried to pay off my tuition as I went by working through school,” Schlosberg says. Graduate students may also be eligible for different types of scholarships and grants, which is aid that does not need to be paid back. Depending on your area of study, scholarships and grants can also be obtained through federal and state organizations, private foundations, public companies and professional organizations.
  • Ask your employer to pay the tuition. One way to financially prepare for grad school is to talk to your manager or human resources representative to find out if your current employer would help pay for, or fully fund, your degree through tuition reimbursement. This is most likely if you plan to move up the ladder and use your new skills on behalf of the company.
  • Take advantage of in-state tuition. Some people move to the same state as their desired school to try to get a break on tuition. “I moved to Montana and worked a couple jobs for a year before applying so I could get in-state tuition,” says Schlosberg. Whether you are already a resident or you move to a new state, be sure to determine how long you need to be a resident to qualify for in-state tuition at your desired university.
  • Cut back on discretionary expenses. Seemingly small things like adjusting your lifestyle to lower your monthly costs, which could mean fewer lattes and dinners out, might go a long way in resolving how to prepare your finances before grad school. “You may have to downscale your career and current lifestyle to go back to school, which may be a worthwhile investment of time and resources,” Johnson says.
When determining how to financially prepare for graduate school, consider scholarships, in-state tuition and tuition reimbursement.

Financially prepare for grad school and get a new start

Answering the question of how to pay for grad school as a working adult requires significant research and preparation, but some say it’s worth it, including Schlosberg. It not only gave her a whole new start, but a wealth of knowledge going forward to nurture her future endeavors. “Getting a graduate degree gave me the confidence to jump into a new career. I met an amazing network of people,” Schlosberg says.

But an advanced degree may not be a necessity. While it could look impressive on a resume, for many employers, a master’s degree is not a requirement. “Whatever you do, don’t go back to school just for the sake of getting a degree,” Johnson says. When thinking about how to financially prepare for graduate school, make sure it fits into your financial picture and that you’re able to “weigh your sacrifices against future gains,” she says.

The post Hitting the Books Again? Here’s How to Financially Prepare for Grad School appeared first on Discover Bank – Banking Topics Blog.

Source: discover.com

7 Things to Know Before Taking a Work From Home Tax Deduction

If you’re one of the millions of workers whose home is now doubling as office space due to COVID-19, you may be wondering whether that means a sweet deduction at tax time. Hold up, though: The IRS has strict rules about taking the home office deduction — and they changed drastically under the Tax Cuts and Jobs Act, which passed in late 2017.

7 Essential Rules for Claiming a Work From Home Tax Deduction

Thinking about claiming a home office deduction on your tax return? Follow these tips to avoid raising any eyebrows at the IRS.

1. You can’t claim it if you’re a regular employee, even if your company is requiring you to work from home due to COVID-19.

If you’re employed by a company and you work from home, you can’t deduct home office space from your taxes. This applies whether you’re a permanent remote worker or if your office is temporarily closed because of the pandemic. The rule of thumb is that if you’re a W-2 employee, you’re not eligible.

This wasn’t always the case, though. The Tax Cuts and Jobs Act suspended the deduction for miscellaneous unreimbursed employee business expenses, which allowed you to claim a home office if you worked from home for the convenience of your employer, provided that you itemized your tax deductions. The law nearly doubled the standard deduction. As a result, many people who once saved money by itemizing now have a lower tax bill when they take the standard deduction.

2. If you have a regular job but you also have self-employment income, you can qualify.

If you’re self-employed — whether you own a business or you’re a freelancer, gig worker or independent contractor — you probably can take the deduction, even if you’re also a full-time employee of a company you don’t own. It doesn’t matter if you work from home at that full-time job or work from an office, as long as you meet the other criteria that we’ll discuss shortly.

You’re only allowed to deduct the gross income you earn from self-employment, though. That means if you earned $1,000 from your side hustle plus a $50,000 salary from your regular job that you do remotely, $1,000 is the most you can deduct.

3. It needs to be a separate space that you use exclusively for business.

The IRS requires that you have a space that you use “exclusively and regularly” for business purposes. If you have an extra bedroom and you use it solely as your office space, you’re allowed to deduct the space — and that space alone. So if your house is 1,000 square feet and the home office is 200 square feet, you’re allowed to deduct 20% of your home expenses.

But if that home office also doubles as a guest bedroom, it wouldn’t qualify. Same goes for if you’re using that space to do your day job. The IRS takes the word “exclusively” pretty seriously here when it says you need to use the space exclusively for your business purposes.

To avoid running afoul of the rules, be cautious about what you keep in your home office. Photos, posters and other decorations are fine. But if you move your gaming console, exercise equipment or a TV into your office, that’s probably not. Even mixing professional books with personal books could technically cross the line.

4. You don’t need a separate room.

There needs to be a clear division between your home office space and your personal space. That doesn’t mean you have to have an entire room that you use as an office to take the deduction, though. Suppose you have a desk area in that extra bedroom. You can still claim a portion of the room as long as there’s a marker between your office space and the rest of the room.

Pro Tip

An easy way to separate your home office from your personal space, courtesy of TurboTax Intuit: Mark it with duct tape.

5. The space needs to be your principal place of business.

To deduct your home office, it needs to be your principal place of business. But that doesn’t mean you have to conduct all your business activities in the space. If you’re a handyman and you get paid to fix things at other people’s houses, but you handle the bulk of your paperwork, billing and phone calls in your home office, that’s allowed.

There are some exceptions if you operate a day care center or you store inventory. If either of these scenarios apply, check out the IRS rules.

6. Mortgage and rent aren’t the only expenses you can deduct. 

If you use 20% of your home as an office, you can deduct 20% of your mortgage or rent. But that’s not all you can deduct. You’re also allowed to deduct expenses like real estate taxes, homeowner insurance and utilities, though in this example, you’d only be allowed to deduct 20% of any of these expenses.

Be careful here, though. You can only deduct expenses for the part of the home you use for business purposes. So using the example above, if you pay someone to mow your lawn or you’re painting your kitchen, you don’t get to deduct 20% of the expenses.

You’ll also need to account for depreciation if you own the home. That can get complicated. Consider consulting with a tax professional in this situation. If you sell your home for a profit, you’ll owe capital gains taxes on the depreciation. Whenever you’re claiming deductions, it’s essential to keep good records so you can provide them to the IRS if necessary.

If you don’t want to deal with extensive record-keeping or deducting depreciation, the IRS offers a simplified option: You can take a deduction of $5 per square foot, up to a maximum of 300 square feet. This method will probably result in a smaller deduction, but it’s less complicated than the regular method.

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7. Relax. You probably won’t get audited if you follow the rules.

The home office deduction has a notorious reputation as an audit trigger, but it’s mostly undeserved. Deducting your home office expenses is perfectly legal, provided that you follow the IRS guidelines. A more likely audit trigger: You deduct a huge amount of expenses relative to the income you report, regardless of whether they’re related to a home office.

It’s essential to be ready in case you are audited, though. Make sure you can provide a copy of your mortgage or lease, insurance policies, tax records, utility bills, etc., so you can prove your deductions were warranted. You’ll also want to take pictures and be prepared to provide a diagram of your setup to the IRS if necessary.

As always, consult with a tax adviser if you’re not sure whether the expense you’re deducting is allowable. It’s best to shell out a little extra money now to avoid the headache of an audit later.

The Penny Hoarder Shop is always stocked with great deals, including technology, subscriptions, courses, kitchenware and more. Check it out today!

Robin Hartill is a certified financial planner and a senior editor at The Penny Hoarder. She writes the Dear Penny personal finance advice column. Send your tricky money questions to DearPenny@thepennyhoarder.com.

This was originally published on The Penny Hoarder, which helps millions of readers worldwide earn and save money by sharing unique job opportunities, personal stories, freebies and more. The Inc. 5000 ranked The Penny Hoarder as the fastest-growing private media company in the U.S. in 2017.

Source: thepennyhoarder.com

Check-In: Expecting Couple Struggling with Debt, But Future Looks Bright

When I first connected with Julia and John, the Queens, NY couple was expecting their first child and grappling with some debt, a lack of savings and income prior to the baby’s arrival. The couple was basically living paycheck to paycheck and in need of some advice to break through that cycle.

We reconnected this month to see how they’ve been doing. Julia is now nearing the end of her third trimester. The baby is due to arrive in two months.

I was hoping that with a baby on the way the couple would have found some ways to chisel away their debt or bulk up savings. Unfortunately, fie months later, they’re more or less still in the same money boat.

But they did act upon a couple of my tips and are benefiting from the goodness of New York and their parents, which has their futures looking brighter.

First, John, who lacks a college degree and was struggling to find full-time work, is going back to school. Not to a college or university, but to a 9-month software boot camp in New York that’s going to give him the skills and network to become a software developer. His potential earnings in the first year in the market could be as much as $75,000 (based on some people I know who’ve gone through similar programs in New York.)

The program will be about $15,000, a fraction of what it would cost to earn a bachelor’s degree. John’s parents have agreed to loan him the money. The couple’s decided to place that $15,000 family loan in savings and, instead, take out a small student loan to pay for John’s school. I agree with that strategy, given that their family is about to increase in size and having some cash on hand will be very important.

Once John completes school and finds work, I’d recommend the couple prioritize the credit card debt by paying at least double the minimums each month. Be most aggressive with the highest interest credit card debt first. Their student loan will likely have a smaller interest rate and can be paid over a 10-year period, making the monthly minimums relatively manageable. Automate those payments as soon as possible and benefit from a 0.25% interest rate reduction when they do.

While they’re taking on more debt, I’m okay with it. Investing in John’s education is one of the best ways this couple can get ahead and better secure their finances in the future – so long as they commit to earning more and paying it down.

Ahead of that program starting, John’s also taken on a side hustle (per my advice). He’s been working a few shifts here and there at Julia’s company, working with special needs patients as a social aide, taking them to community and outdoor events.

Some other good news that’s developed since we last spoke is that New York State has enhanced its Family and Medical Leave Act by implementing Paid Family Leave. In the past, certain employers were only required to provide workers with their jobs back after taking a leave of absence for up to 12 weeks. Now, qualifying private employers must provide paid time off and a continuation of health insurance for 8 weeks in 2018.

This came as a surprise bonus for Julia, who was preparing for zero paid time off from her employer.

It would be my recommendation to use part or all of that extra money to pay down their high-interest credit card debt.

Once Julia returns to work after her maternity leave, her mother-in-law will be the go-to caretaker during the day, another huge help.

They’re fortunate to have free childcare from a trusted, loved one. With that very big expense covered and John’s schooling about to start, I feel confident that the couple’s future is a financially bright one.

The post Check-In: Expecting Couple Struggling with Debt, But Future Looks Bright appeared first on MintLife Blog.

Source: mint.intuit.com

How I Earned Up to $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!)

Hello! Are you interested in starting a dog treat bakery business? Well, good news, this article will tell you what you need to know. Plus, you can sign up for this free training workshop that will teach you how to start your own side hustle baking and selling dog treats.

Hi! My name is Kristin Larsen, and I run Believe in a Budget, a blog about personal finance and my experience with various side hustles. (It feels like I’ve tried them all over the years!)dog treat bakery business

As I’ve written about before here on Making Sense of Cents, my favorite online side hustle is working as a Pinterest virtual assistant. Managing Pinterest accounts is a great way to earn an income entirely online.

But today, I’m here to talk about a completely different side hustle, one that can be run entirely offline if you want (or entirely online, or a combination!).

While I love being able to work from home (or anywhere) on my computer, there is something to be said about stepping away from the computer and doing work that doesn’t involve the ‘virtual world’ – work that requires you to move around a little instead of being planted in front of a screen all day long!

In the case of this side hustle, it involves moving around the kitchen baking up beautiful and delicious dog treats.

Yes, dog treats!

The side hustle I’m speaking of is starting a dog treat bakery and I’m so excited to share it with you today. As a successful dog treat baker myself, I know first-hand how in-demand and lucrative this business can be.

How do you start a dog bakery?

 

How I Took My Dog Treat Bakery from Passion to Side Hustle to Full-Time Job

My dog treat bakery story started over ten years ago when I was an interior architect and designer at my 9-5 job.

At the time, I was the proud dog mom of Bella, a sweet-but-very-high-maintenance pup. Her birthday was coming up and I wanted to give her a birthday treat that fit her ‘diva dog’ personality.

I went to the local pet store and perused the aisles, but all I could find were treats filled with ingredients I couldn’t pronounce that looked like they had been sitting on the shelves for years. After a disappointing visit, I walked out the door and decided that I was going to bake Bella a treat.

This was kind of laughable since baking was not something I had done much of in my life, but I was going to figure out a way to make it work.

I decided to do some research by going to a local bakery and spending a lot of time staring at the baked goods (awkward!), trying to figure out which one I could recreate for Bella. I finally decided on a pretty cupcake adorned with white icing.

I went home, researched dog-safe ingredients and got to work planning Bella’s birthday treat. After a quick trip to Target to buy a mini cupcake tin, I started baking.

About an hour later, her birthday cupcake was baked, iced and ready to serve. Despite its small size, it was a huge success she loved it!

As soon as I saw how much she loved her treat, you could say I became a little obsessed with making wholesome, healthy treats for her. Soon, I started gifting them to friends and family.

I went from developing a single cupcake recipe to developing over 20 different dog treat recipes everything from treat bones to cookies to brownies to cakes!

Pretty soon, the friends and family who were on the receiving end of my gifts were saying: ‘Kristin, our dog(s) LOVED your treats. Can we buy some to gift? Can my friends/family/co-workers/neighbors buy some?’

With those questions, Diva Dog Bakery™ was born!

My little ‘obsession’ quickly became a side hustle, first bringing in $100 to $200 a month, then over $500 a month, just selling through word-of-mouth. It was the easiest money I had ever made!

In a serendipitous turn of events, I ended up losing my 9-5 job a few months after I started Diva Dog Bakery™. It was during the Great Recession, so I couldn’t find a job in my industry anywhere. My unemployment checks weren’t enough and I was quickly going through my savings.

I was initially stuck in a ‘dog treat bakery = side hustle’ mindset,  so it didn’t immediately occur to me to try to turn my side hustle into a full-time business. But when my money was drying up, it finally clicked: I can turn this into a full-time business!

I went all-in on my bakery and hustled hard. I sold at multiple farmers markets every Saturday (shout-out to my parents who helped me ‘be’ in multiple locations at once!), started a successful Etsy shop and also sold products wholesale.

Pretty soon, I went from going broke to making a solid $3,000 to $4,000 per month… despite the economy being in the biggest downturn since the Great Depression. 

Needless to say, I was ecstatic!

The especially exciting thing about my earnings is this was nearly ten years ago when the dog treat industry wasn’t nearly as hot. These days, my efforts could easily bring in double that!

 

The Opportunities in the Dog Treat Industry (Why You Should Start a Dog Treat Bakery)

When I first started my dog treat bakery, the idea of buying homemade cupcakes or brownies or cookies for your dog was still considered a little ‘out there.’

These days, dog owners are much more tuned in to the idea of pampering their pooches and they’re willing to spend money to make it happen.

Here are a few interesting stats for you:

  • The dog treat market is incredibly hot right now and getting even hotter… to the tune of almost 7 BILLION dollars in sales in just 2020 alone! (source)
  • Over six out of ten dog owners are concerned about the safety of the dog treats they purchase. (source)
  • Dog owners are especially interested in purchasing dog treats with wholesome, easy-to-pronounce ingredients. (source)

It’s never been a better time to get started with a homemade dog treat bakery!

 

How Much You Can Earn Baking Dog Treats at Home

If you just want to run a fun-but-profitable hobby, you can easily earn $500 to $1,000 a month with a dog treat bakery as a side hustle.

At this level, you can do all of the work yourself in just a few hours a week. If you have kids, you can also have them pitch in. A dog treat bakery is a great family business!

If you want to turn your dog treat bakery into a full-time business, you can scale it into four figures a month, or even five figures a month.

If you want to scale your dog treat bakery into a full-time business, expect to work 30 to 35 hours a week yourself. If you want to have a heavy farmers market presence, you will probably need to bring on some help for a few hours each week so you can have a presence at multiple farmers markets at the same time. (The best ones are usually on Saturday mornings.)

If things get really busy, you can bring on baking help, marketing help, shipping help and more! You can make this business as big (or as small) as you’d like.

 

Where to Sell Your Dog Treats

As I mentioned at the beginning of this post, you can run your dog treat baking business in a way that suits your lifestyle. You can run it offline, online, or both!

There are so many ways and places to sell your treats, but here are a few ideas to get you started.

Offline:

  • Word-of-mouth sales (e.g., friends, family, co-workers, church)
  • Farmers markets
  • Wholesale to local businesses (e.g., pet stores, veterinarian offices, gift shops) 

Online:

  • Etsy shop
  • Social media for local sales
  • Social media for nationwide sales

 

How Much Does it Cost to Start a Dog Treat Bakery?

Like nearly all businesses, starting a dog treat bakery comes with a few start-up costs, but you will easily earn these back when sales start coming in, or you can even take pre-sale orders! (Have I mentioned that the profit margin on dog treats is amazing?!)

Typical start-up costs for homemade dog treat bakeries in the U.S.* include:

  • $20 to $50 for the initial ingredients, plus a few inexpensive baking tools if you don’t already have them in your kitchen
  • $0 to $75 for treat packaging costs
  • $25 to $50 for a business license
  • Between a $25 one-off fee to up to a $50 per-treat fee to register your treats with your state – this will depend on your state’s regulations

*Costs and laws outside of the U.S. will vary from what is listed here.

 

Are Dog Treat Bakeries Regulated?

Yes, but not nearly as much as ‘people food’ bakeries. (Good for would-be dog treat bakers, but a little sad for our furry friends!)

In the U.S., the exact regulations you will need to follow are decided by your state and sometimes your local area (e.g., county, city). This is easy information to find out by contacting the following agencies:

  • State department of agriculture or feed control office
  • State and local health departments

You can also contact your state’s business agency and tell them you want to start a pet treat bakery. Many states have information on file about pet treat bakeries that tell you everything you need to do.

Don’t be intimidated by this process – in most cases, all you have to do is fill out a few forms and pay a few small registration fees!

 

How to Get Started as a Dog Treat Baker

When I first started Diva Dog Bakery™, I honestly had no idea what I was doing.

Although I saw success pretty quickly, there was a lot of trial-and-error because I had no one to guide me. I didn’t know anyone who owned a bakery, let alone a dog treat bakery.

The one thing I definitely did right at the beginning – and what I recommend to you if you want to become a homemade dog treat baker – was to spend some time in the kitchen learning how to make treats.

Because I wasn’t much of a baker (and maybe you aren’t either), getting a little baking experience under my belt was very helpful.

I also tested out my treats on my dogs and the dogs of some of my friends and family. Dogs may not be able to talk, but you can tell pretty easily which treats they love eating and which treats they’ll turn their nose up at!

With this data, you can start to package up and sell the most-liked treats. You can scale it from there and start to build up your business.

If the idea of going it alone on a dog treat bakery business sounds a little intimidating, I’d like to welcome you to join the Diva Dog Bakery™ course where I’ll teach you exactly how to build a thriving dog treat bakery business!

Here’s what the course covers:

  • How to best make and store dog treats (this is where you’ll practice your baking techniques)
  • How to turn your hobby into a legal dog treat business 
  • How to package your treats beautifully without hours of effort (beautifully packaged treats command premium prices!)
  • How to price your dog treats so you maximize your revenue
  • Where to sell your dog treats: offline, online or both
  • The best methods for accepting payment
  • How to most efficiently and inexpensively ship and deliver your treats
  • The best ways to promote your business so you build up a following of raving fans and repeat customers!

You’ll also receive valuable bonuses, including:

  • My full dog treat recipe book, which includes the most popular and profitable recipes I used in my bakery
  • Guaranteed analysis/nutrition labels to use on your treats (required by certain states)
  • 30 days of free access to the Diva Dog Bakery™ Community so you can get all of your questions answered while you grow your business, including live training

It has been so exciting to help new dog treat bakers launch their businesses! Cheering on every baking success and every business success is truly the best part of my day.

 

Lessons Learned from a Cupcake… and a Phone Call

I like to say that Diva Dog Bakery™ started with a cupcake.

But it really, truly started when, after gifting treats to friends, one of those friends called me and said: ‘Kristin, can I buy a bag of your dog treats?’

Until that moment, I had no idea that anyone would actually want to pay for the treats I had been making as a labor of love.

I learned a valuable lesson that day: there is a market out there for so many different products and services. Whether it’s a product or service that we dream up on our own or that we learn from a course, there is probably someone who wants to buy it from us.

We just have to figure out a way to make that sale happen… and then make it happen again and again!

 

Dog Treat Bakeries are a Great Business to Start

If you’re interested in starting a business that’s ‘outside the box’ of the typical online businesses, then I highly recommend starting a dog treat bakery. 

The industry is booming, the work is enjoyable, the profit margin is fantastic and (maybe the best reason of all) you have the cutest customers!

To get started on your dog treat bakery journey, I’m offering a free dog treat bakery workshop! Check out the sales page here and sign up for the free workshop.

If you have any other questions about starting a dog treat bakery after watching the workshop, just email me and I’d be happy to answer them.

Are you interested in starting a dog treat bakery?

The post How I Earned Up to $4,000 Per Month Baking Dog Treats (With Zero Baking Experience!) appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

Ways to Earn Extra Money for Paying Off Debt

Debt traps you in a seemingly endless cycle. More debt means more interest and less disposable income, which means you’re constantly fighting against the tide and are always one issue away from complete financial disaster. 

Once you start making repayments on this debt, there will be less interest to compound, which means the grip will loosen, you’ll have more breathing space, and you can look forward to a debt-free future.

In this guide, we’ll look at some of the ways you can earn extra cash to start clearing your debt, from acquiring additional work and responsibilities to making money-saving sacrifices.

Stop Wasting Money

The average American household wastes over $10,000 a year on unnecessary purchases. These purchases all fuel the economy and keep you and your family happy. But if you’re losing sleep because you have so much debt, it’s worth making these sacrifices to give you some peace of mind and build towards a better future.

Save on Grocery Bills

The average family spends between $300 and $500 a month on groceries and as much as 40% of this food goes to waste. The majority is fresh food past its expiration date but we also have a tendency to cook monster-sized meals that end up being thrown away.

To save money on your grocery bill, try the following:

  • Plan your shop carefully. Only buy fresh when you’re confident that the food will be eaten in the next day or two.
  • Reduce your portion sizes when cooking. It’s okay to err on the side of caution and make more than needed, but to cook double or triple what will be eaten is just wasteful.
  • Don’t worry too much about best-before dates. It doesn’t mean the food should be thrown away, just that it’s not at its best. The same applies to lots of fresh fruit and vegetables. In this case, you can rely more on the squeeze and sniff test.
  • Cook food that is about to expire and would otherwise be thrown out. You can freeze the meals for later. You can also try picking, preserving or juicing to reduce waste.

Eating Out

On average, American families spend close to $3,000 a year eating out. It’s a great way to spend time with the family or have a date night with your partner. However, if you have a lot of debt then $3,000 worth of restaurant visits is a little excessive. 

Stop spending so much money eating out and focus on some cheaper alternatives. A picnic is a great alternative. You can use some of that uneaten food and spend time with the family without paying a small fortune for the pleasure.

Stop the Vacations

Big families take one vacation a year on average and this costs them between $4,000 and $5,000. The more children you have, the more expensive it becomes. What’s more, around a third of these families will take as many as three additional, smaller vacations every year, potentially spending over $7,000.

Don’t sacrifice spending some time with your family but look for cheaper options instead. Choose a small cabin instead of a plush hotel. You can go for walks, play games, swim, hike—all free activities that could bring you even closer and cost even less.

Hold the Vices

Thousands are spent on cigarettes and gambling, and much more is spent on shopping sprees. If you have any of these habits, it’s time to put a stop to them. We don’t need to tell you about the benefits of stopping smoking or giving up those shopping sprees, but if you’re still not convinced about the gambling, then spend a few months recording every single dollar that you bet.

Most gamblers think they are breaking even or only losing a little, but when they monitor their activity, they discover they are actually losing a lot.

Check Your Subscriptions

According to a recent survey, most Americans underestimate how much money they spend on subscriptions. We’ve turned into a nation of subscribers, spending hundreds of dollars a month on dozens of services we barely use.

We pay for cable, streaming services, gyms—we convince ourselves that it won’t matter as it’s only a few dollars, but those costs can add up to a lot of wasted cash at the end of the year.

Sell Your Stuff

Many sites can help you offload your unwanted items. There’s a home for all the things you no longer need, from electronics and video games sold on eBay or Amazon, to clothes and furniture sold through sites like Craigslist, Facebook Marketplace, and Swappa. 

It’s time to let go, stop hoarding, and earn some cash from the things you don’t need. Be honest with yourself and get rid before the value of those items depreciates more and you end up with worthless, dust-covered junk that just takes up space.

As an example, let’s imagine that you have a dozen old video games worth just $5 each on average, 10 old school textbooks worth just $2 each, a couple of furniture pieces worth $10, an unwanted guitar worth $50, and a couple of handbags worth $25 each.

Individually, those items aren’t worth much and you might think they’re not even worth your time trying to sell them, But combined, you’ll get $200 and if you put that towards a high-interest credit card debt, it could save you twice that in interest over the term. You will also free up some space in the process.

Get Another Job

You know you can make more money by asking for a pay rise. It goes without saying. The problem is, life isn’t quite that easy and, in most cases, asking for a pay rise will elicit little more than a short, sharp laugh from your employer. 

However, there are many ways you can earn money from a side hustle, taking advantage of the gig economy and swapping a little talent, a little time, and a lot of hard work for some cash.

Get a Part-Time Job

There is a multitude of ways you can earn some extra cash these days. The pay isn’t always great, but if you’re working towards clearing your debts and have some free time, every dollar helps.

Uber and Lyft are always looking for new drivers; retailers need shelf-stackers and greeters, and there is no shortage of delivery jobs. Review your free time, calculate when you can work, and see what’s available. 

Teach a Skill

Can you play a musical instrument or speak a second language? Do you have some other teachable skill? It has never been easier to make money as a part-time teacher, as sites like Preply.com, Udemy.com, Tutor.com, Noodle.com, TakeLessons.com, and many more bring all of these opportunities to you. 

You can visit the student’s house, invite them to yours or simply conduct the lessons via Skype or the site’s built-in conferencing software.

Freelance

Upwork.com, Guru.com, Fiverr.com—these sites and more have created a world of possibilities for skilled writers, designers, coders, and other experts. But they offer so much more than that. 

You don’t need to be particularly skilled to work on these sites as the pay is scaled based on ability and experience. If you have a little free time and some competent language skills, you can hire yourself as a virtual assistant to do basic admin work.

There are countless entrepreneurs seeking individuals to complete basic tasks such as transferring data, reviewing images, and answering emails. The pay isn’t great if your skills are limited, but you get to work from home on your own time. 

Cover the Basics

Freelancing and teaching may be out of the question if you don’t have any skills and are not computer literate. But there are still a few other options, including dog walker, lawn mower, babysitter, and general handyman. 

Ask your neighbors, friends, and family if they need any work; check Craigslist and local classifieds. Everyone can do something and there are always odd jobs available if you’re willing to work.

Try Some Other Methods

When the ordinary fails, it’s time for the extraordinary. There are some weird and wonderful ways you can make extra cash when needed.

Sell Your Hair

If your hair is long and untreated, you could make a tidy sum by selling it. Good quality human hair is used to make premium wigs and some companies are willing to pay thousands for the right locks. However, there are some strict conditions, such as the fact that it must be untreated and very well looked after.

House Sit

Sites like Thumbtack can connect you to homeowners looking for skilled workers, as well as people willing to look after their homes and belongings. They will pay you to stay in their homes and perform some basic chores while they’re away, such as watering plants, feeding pets, and mowing the lawn.

Make Something

If your skills are practical and not creative, turn your hand to making things and sell them through sites like Etsy, Facebook or your own online store. The world has been obsessed with single-use plastics for many years and it’s now waking up to the damage that has been done. Many consumers are willing to pay extra for something that has been handmade and is unique, especially if the money supports an independent creator.

Grow Your Own

If you have a yard and some free time, start growing some produce. Crops like potatoes, carrots, greens, and even some fruits are easy to grow and can give you a bumper crop every year. You’ll pay a few cents for the seeds and simply need to devote some time to digging, watering, and harvesting.

Think about how much money you’ll save if you have your own supply of vegetables and fruits and can just pick fresh from the yard whenever you’re cooking. If your family eats a lot of cheese or drinks a lot of wine or beer, you can also start producing your own supply. 

Cheese can be made with a lot of milk, a little rennet, and a few simple steps. Beer can be made using some do-it-yourself kits. 

As for wine, it’s one of the easiest things you can make yourself. You don’t even need grape juice as wine can be made from a multitude of fruit juices, vegetable juices, and more. You can even make a strong, fragrant white wine with a handful of fruit teabags. The only expense is the sugar, which means you can make several dozen bottles worth of wine for less than $10.

Join a Clinical Trial

Although it’s not a method we would recommend, it’s one that’s worth including. If you join a clinical trial, you’ll be paid to act as a guinea pig. The good news is that the majority of these trials run without incident and most subjects are as healthy at the end as they were at the beginning. The bad news is that there is always a risk and there’s no telling what will happen.

You can search for available trials on the Clinical Trials website run by the US National Library of Medicine. 

Summary: Paying Off Your Debt with Extra Money

Your first priority is to meet your minimum payment obligations and avoid any missed payments. Once you meet this obligation every month, you can put any extra cash you have towards clearing those debts. Every little helps, even if it’s just $50 or $100 here and there.

As an example, if you have a credit card debt of $10,000 with an APR of 25% and a minimum payment of $300, you’ll repay $17,251 in total over 58 months. Add just $100 a month and you’ll reduce the term by a whole 12 months and the balance by a massive $3,000. Take a look at our guides to the Debt Snowball Method and the Debt Avalanche Method to find the right payoff strategy for you. Both methods rely on you earning some extra cash and now that you’ve made it to the end of this article, you’ll know just how to do that!

Ways to Earn Extra Money for Paying Off Debt is a post from Pocket Your Dollars.

Source: pocketyourdollars.com