Conserve Your Money When Starting Your Online Business


If you’re clever and work hard, there is good money to be made on the Internet. You could get a side gig creating your own blog or website, or you could tutor online. You could even offer your own online store. Some people start with a side gig online and then quickly (perhaps more quickly than they initially planned to) make the leap to full-time self-employment working on the web.

Indeed, this is a dream for many people, but working for yourself online comes with some drawbacks, especially if you quickly made the leap to self-employment without giving full consideration to your financial situation.

If you experience a few late paying clients or if your emergency fund isn’t quite as large as it should be, you may find yourself unable to keep up with your bills. If you find yourself in this situation, here’s what to do:

1. Lower any expenses you can. Cut the cable if you need to or lower your cell phone plan to a more affordable one. If you still have a landline, switch to a VOIP provider like Ooma to save $20 or more a month. Ideally, you should make these changes when you make the leap to self-employment, before you are short on cash.

2. Save a portion of your earnings every month. In the beginning when your business has not taken off yet, saving a portion of your earnings is difficult, but it’s something you must do because you need a cushion for those times when clients don’t pay on time.

3. Consider taking a short term loan. Find a responsible lender and take a short term cash loan. If you need the money immediately, you can sometimes get the money in just a few hours. While this type of service is a nice safety net, don’t rely on short term loans regularly. This should be a last resort.

Making your own living online can be like a dream come true for many. Just make sure your finances are in order so your dream doesn’t turn into a nightmare.

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Surviving Unemployment

Nobody likes to be unemployed and the longer you’re out of work the harder it can be to deal with things. It isn’t just the lack of money coming in that is worrisome (though that is a real issue for many). It is also the loss of the sense of purpose. Here are some of the things you can try if you need some help surviving unemployment.

Create a Routine

The first couple of weeks that you are unemployed can feel like a vacation. You can get up whenever you want and do whatever you want all day! Before long, though, you are going to feel at loose ends and this is where a routine becomes important. At the very least, keep yourself trained to get up at a certain time every day, to eat lunch at the same time every day, etc. You can also add in household chores, volunteering gigs, specific hours for job hunting, etc. The routine helps you feel like you have a sense of direction which can go a long way toward keeping yourself sane.


Pick one or two causes and volunteer for them. Serve soup at a soup kitchen. Shelve books at the library. Work in an animal shelter. In addition to getting you out of the house a few times a week, volunteering looks fantastic on a resume, which makes you more attractive to an employer. Community service is more important than it has ever been before. What’s more, you never know who you are going to meet while you’re volunteering. The person cleaning cages with you might be your next job reference.

Figure Out Your Finances

If you have been unemployed for a while, you are probably having some money problems. If there isn’t any employment on the horizon, there’s nothing wrong with taking out a small loan, like those offered by mogo money, to keep your bases covered. A small loan can be used to help cover a housing payment, some utilities, or put some extra food on your table (particularly if you are too proud to explore the SNAP programor your unemployment keeps you from qualifying for much of a benefit).

The most important thing that you can do if you need help staying sane while you are unemployed is to keep yourself moving with momentum. Things like volunteering, sticking to a budget, and a daily routine are all things that will keep you active. Staying active is the key to staying sane while you are looking for work.


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