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Great Ways to Create Extra Income |
Everyone can use a little extra money, and thats why American Journal consulted author Jennifer Basye on ways to earn extra cash. The following are tips from Basyes book, along with warnings from the Better Business Bureau on how to spot the legitimate money-making deals from the scams.
- Sit down and draw up a list of your skills, talents, and interests. Take a good look at the list. Is there something on it that you already know how to do that other people will pay you for? Is there something you can make that people will buy? Is there something youd like to learn that, once mastered, will help you earn extra income?
- Are you willing to work hard and get dirty? Some of the best ways to earn extra income involve doing jobs that other folks dont want to do themselves anymore and would rather hire out, everything from car detailing to picking up dog droppings.
- Time is something we all have, so why not sell some of yours? In this fast-paced world there are folks who are willing to hire other people to run errands for them, pick up dry-cleaning, and even stand in line.
- Dont be dazzled by promises of big bucks. Set realistic small goals for yourself and resist the urge to spend lots of money developing your side business. You might well end up in greater financial trouble than before you started.
- Cant think of a way to make extra money? Stop, look, and listen to what goes on around you. You never know when the right idea will present itself. Read articles in business magazines, watch the news on TV, and listen to the radio, you might hear about a unique small business idea that is successful somewhere else that you can adapt for your area.
- Dont skip the basicsbefore you start up an extra income opportunity be sure to investigate your local business laws and regulations. And dont forget to report your extra income on your annual tax return; consult a tax planner if you arent sure how to do this.
101 Best Extra Income Opportunities for Women is filled with 101 actual small business ideas anyone can use, and is available in bookstores nationwide, or direct from the publisher at 916-632-4400.
Working-At-Home: The
Perpetual Schemes
source: Better Business Bureau
If you want to work at home, you also have reason to be cautious. Many people are victimized by work-at-home schemes, and they are losing more money than ever. The old schemes in which a consumer can lose ten or twenty dollars are still around, but now there are new schemes, robbing victims of thousands of dollars.
Work-at-home scam artists have always preyed on senior citizens, the disabled, mothers who want to stay home with their children, and people with low incomes and few job skills, but these days they also target people with computer skills and higher incomes. Scam artists are using technical terminology and new ways of reaching people, such as the internet or cable television, but they deliver the same old false promise: "Make big bucks with little effort."
If you are tempted by work-at-home promotions offering "easy money," rememberyou have a lot at stake. You can:
Lose Money: Consumers have lost amounts ranging from $10 to $70,000 or more.
Damage your reputation: You may find you have unintentionally sold your customers bad or nonexistent products or services.
Risk becoming the focus of a legal investigation: You may be held responsible if you perpetrate a fraud by promoting or selling a fraudulent product or service to others.
Lose valuable time: You may expend a lot of effort on a work-at-home scheme which gives you nothing in return.
Steps to take before you sign up:
Ask the companys representative the following questions. Remember, a reputable company will respect you for being careful and will not pressure you into making a fast decision.
- In what state is your company incorporated?
- What is the total cost of the program, including training, supplies, equipment and special fees?
- Exactly what materials and support services will I receive for my investment?
- If I have products I cant sell, will the company buy them back from me?
- Exactly what tasks will I be required to perform?
- When and how will I be paid- by salary or commission, or by the quantity of my completed work?
- Who will pay me?
- Will I be responsible for finding my own customers?
- Exactly what are the required standards my work must meet?
Do your homework and your own research.
- Call your local Better Business Bureau or access the BBBs web site at http://www.bbb.org for a reliability report on the company.
- Find out what regulations apply to work-at-home offers in your state. Check with your states office of attorney general or office of consumer affairs.
- Call the secretary of states office where the company is headquartered to find out how lnog the company has been in business.
- Contact the Federal Trade Commission in Washington, D.C. or access the FTCs web site at http://www.ftc.gov for information.
- Call the U.S. Postal Service Criminal Investigations, which are listed in your local telephone directory or call your local postmaster.
- Contact the Direct Sales Association or the Direct Marketing Association (both in Washington D.C.) for further information.
- Consider doing research at the public library. Talk to people in similar businesses that deal with the same type of products. You may also wish to consult an attorney who specializes in business law.
Get all information in writing.
Before you sign a contract or spend any amount of money you cant afford to lose, read all of the contracts provisions carefully, and make sure you clearly understand them. The Federal Trade Commission, under the franchise rule, requires that the sellers of some types of business opportunities must supply certain information in writing before a contract is signed.
Whether or not this law applies to your specific choice, you should insist on getting the following information in writing, signed by the companys authorized agent. After you obtain the written information, have it reviewed by an impartial person such as your accountant or attorney. Then ask for:
- A copy of the companys financial statement.
- A list of all charges you are required to pay, including both start-up costs and any charges or obligations that may occur in the future.
- A detailed description of all assistance the company agrees to provide, such as training, materials and marketing.
- A description of any restrictions on what you may buy or sell, the market you will pursue, and any other aspect of your work.
- A list of others who have succeeded at this business opportunity. Ask for a substantial number of names (with addresses and phone numbers) from which you can make your own choices of people to contact.
- An exact description of the conditions under which you or the company may alter or terminate the contract.
- Information on the business background of the owners and managers of the company, including any legal problems or lawsuits.
- Written substantiation of the potential earnings the company has advertised.
Tips to Remember
If you become a victim of a work-at-home scheme, ask the company for a refund. They may be willing to give it to you. If they refuse, or give you an evasive response, tell them you plan to notify law enforcement officials.
Keep careful records of everything you do to recover your money. Document your phone calls, keep copies of all paperwork such as letters and receipts, and record all costs involved, including the time you spend. If the company refuses to refund your investment, contact:
- Your local Better Business Bureau
- Your local or state consumer affairs agency
- The states attorney generals office in your state or in the state where the company is based
- The U.S. Postal Service Criminal Investigations office for your region; They investigate fraudulent schemes if the mails was involved.
- The advertising manager of the publication that ran the ad you answered
- The Federal Trade Commission; While the FTC may not be able to resolve individual disputes, the agency can take action if there is evidence of a pattern of deceptive or unfair practices. To register a complaint, write to: Correspondence Branch, Federal Trade Commission, Washington D.C., 20580
Copyright (c) 1997
King World Productions, Inc.