Hope for your financial life and beyond

How to Manage Your Side Hustle and Family Life So You Don’t Go Insane

January 24, 2022 by 11 Comments

There may come a time in your life where you want to or need to create a side hustle to earn extra income. It can be many things depending on your skills and the depth of your need. Regardless of what you choose, it will be something you do on the side (apart from your day job) to bring in additional money to the family budget.

Side hustles can be a financial blessing. They can help you build up your savings account or pay off debt or meet any a number of financial goals you might have.

side hustle IIIHowever, while the additional income of a side hustle is welcome, there is a dark side that many are unprepared for. Side hustles, done improperly, can be a curse on family life.

It’s one thing to have a side hustle if you are single. I remember talking with a blogging friend who told me how he’d work his 9 to 5, take a 30-minute dinner (maybe) and then work till past midnight writing and networking. I’m not saying that’s necessarily an easy schedule but it’s not like you have anyone else to account for. It’s just you.

When a spouse and/or kids are in the picture side hustles take on a whole different dimension.

There is a tension that immediately surfaces the minute one member of the family begins a side hustle. What was a normal life is no longer normal.

You know the side hustle must be done to improve your financial life. But you also know family life matters. How can you manage it all and not go insane?

Here are a few strategies I’ve used over the years as I’ve managed a career in education, side hustles (my blogs) and family life.

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Filed Under: Marriage, Work Tagged With: , ,

Life Insurance: The Most Important Things You Need to Know

May 31, 2020 by 29 Comments

The topic of life insurance is one that many do not like to discuss. The reason is simple – it involves death, most notably our own. And since death routinely shows up on lists of common fears, its obviously something we choose not to think about.

life insurance

Next to purchasing quality health insurance, I believe this is the second most important insurance a person should buy.This is because there is nothing you can do about it once you are gone. You can’t buy a life insurance policy after you are dead. You can’t provide any financial comfort to those left behind once you are in the ground.

See what I mean about life insurance? Even writing those sentences brought a tinge of emotion I’d rather not feel. That’s what makes it so easy to avoid dealing with this.

But we have to. Life insurance is a big piece of the puzzle to our financial lives – even if we, as the deceased, will never see any of the money.

What is Life Insurance?

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Filed Under: Insurance, Marriage Tagged With: ,

Interview with a Centenarian: At 100, My Grandfather Reflects on Life, Faith and Finding Purpose

February 10, 2020 by 40 Comments

Oh, to be a centenarian – 100 years of living. It’s simply amazing! Most of us would settle for 80% of that. It’s hard to fathom the changes and life events someone born in 1914 has experienced.

centenarian

Byron Miller – Preaching at 100 years of age

What will you be up to at 100 years of age? My grandfather, as shown in the picture, preached a sermon the day after he turned 100. His challenge to those who listened:

1. Practice Gratitude (be thankful)

2. Express Certitude (in the things of your faith)

3. Develop Fortitude (build the power to endure)

And he played his guitar and sang a short chorus at the end. The song’s message – “Just a little bit longer Lord…just a little bit longer.”

Not a dry eye in the house.

In the weeks leading up to his 100th birthday, my grandfather was kind enough to answer some questions about his life. I’d encourage you to take five minutes to enjoy this thought provoking read about a man who has experienced the Depression, the loss of siblings, financial challenges, joys and regrets and 60+ years of ministry.

Q & A With a Centenarian

1. What is the most amazing thing you have seen in your lifetime? Why did that stand out?

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Filed Under: Faith, God's Provision, Lifestyle, Marriage Tagged With: , , , ,

How to Stop the Money Problems in Your Marriage For Good

January 18, 2016 by 9 Comments

Are you finding yourself having the same money problems over and over again in your marriage? Tired of fighting with your significant other about money? Well, you are not alone. Money problems consistently ranks as one of the top reasons marriages end in divorce.

money problemsThis should not be surprising to anyone. The big priorities of life such as shelter, food, transportation, careers, education, healthcare and retirement all have money affixed to them as a central core element. Whenever a major life decision has to be made it almost always involves money.

Then when all the minor day-to-day decisions get thrown into the mix, it becomes clear money is at the core of almost everything we do.

I’ll admit when I first got married I wasn’t prepared for the challenges money decisions would create. I thought we could just out-earn whatever expenditures we wanted to have. The more money we could make the more we could get. I thought, “Money problems? We’ll never have them.”

Nor was I prepared for how each of us would bring into the relationship different backgrounds, personalities or opinions. Money is enough to create problems in and of itself. Mix in those three variables and a marriage could be headed for a host of money problems.

The more conflict that comes with money problems, the more discouraged couples get. Every discussion seems to lead into a fight with both parties not listening to the other and becoming more entrenched in their own beliefs. Before long, they are questioning whether or not they are meant for one another.

It’s such a common scenario but it doesn’t have to be this way. Couples can take steps to solve their money problems and live in harmony together.

Steps to Cure the Money Problems

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10 Important Money Questions You Need to Ask Before Marriage

July 6, 2015 by 14 Comments

A huge issue that needs to be addressed before marriage is each person’s belief about money. Too many marriages end due to money fights or money related problems. If it’s one of the biggest reasons couples get divorced it should be a key area they address prior to marriage.  And you can only do that by asking certain money questions.

One would think you could get to fully know your partner through dating. You really can’t, not 100%. Dating is all about making a positive impression. Marriage is when personality, habits, beliefs, etc. truly become known…warts and all.

money questions before marriageThat’s why good pre-marriage counseling is important. It forces you to dig deeper in your understanding of one another. If it’s done properly there will be fewer shocks and surprises after you say, “I do.”

But where should the conversation about money start? What money questions need to be asked?

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Filed Under: Managing Money, Marriage Tagged With: , ,

The Biggest Home Security Issue Everyone Is Missing

December 8, 2014 by 35 Comments

When it comes to home security issues, we typically think of analyzing and paying for the basics: quality dead bolt locks, an alarm monitoring system, and multiple smoke detectors. Maybe we also purchase a dog for the heightened sense of awareness they bring. These are all commonplace methods to deter entry into the home and keep us feeling safe.

home securityYet there happens to be another major home security issue that is usually overlooked. This one is so big it’s hurting individuals and destroying families. Though we know it’s out there we refuse to take the necessary steps to stop its incursion into our home.

What could be so devastating?

The lack of internet security as it relates to online access of pornography.

Your failure to attentively monitoring the use of technology – mainly the access to apps and the Internet on computers and mobile devices that have become the main tool for the distribution of pornography – may be causing untold damage to your family.

Why the Internet Is a Big Home Security Issue

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Filed Under: Kids and Money, Marriage, Vices Tagged With: , , ,

7 Financial Hurdles to Becoming a Stay at Home Dad

August 4, 2014 by 12 Comments

Today I’m guest posting and commenting at the personal finance blog Reach Financial Independence. Click the link below to read about the financial challenges my wife and I decided to check off our list before I became a stay at home dad. 

sprinters jumping hurdles

Image at Wikimedia Commons

So, you want to be a stay at home dad? Great! I’ve recently become one after several long years of planning and deliberation. Needless to say, it’s a decision that cannot be taken lightly.

In order to reach this point, my wife and I desired for several things to happen. First of all, my wife needed to REALLY aspire – out of her own conviction – to work outside the home. I didn’t pressure her or twist her arm to make this happen. In fact, on many levels, she wanted it more than I.

Secondly, there were of course financial matters to consider. Going from two incomes to one is no picnic. We both had to focus on…

Click here to keep reading at Reach Financial Independence…

Next Post: Back to School Savings I Don’t Care About

Prior Post: Celebrating a Milestone With My Top 10 Favorite Proverbs About Money

 

Filed Under: Goals, Marriage, Planning Tagged With: , , ,

5 Life Changing Moments That Lead to Lifestyle Inflation

July 22, 2014 by 46 Comments

In simplest terms the concept of lifestyle inflation refers to a person’s spending going up as their income goes up.

lifestyle inflationSome lifestyle inflation may be unavoidable but it’s a good thing to keep it in check as much as possible. Otherwise you end up living paycheck to paycheck and having little or no money let over to pay down debt, save for retirement and use for other investments.

When a person is at that point, with no money left to create a cushion, life gets really stressful.

Moments of Lifestyle Inflation

We can be drawn to increase our lifestyle at any point in life. As I see it though, there are five instances when we are most susceptible to increasing our spending. Here’s how it often works.

1. After college graduation at the first real job

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Filed Under: Career, College, Marriage, Spending Tagged With: , , , ,

Four Big Money Issues For Couples to Settle Before Marriage

June 19, 2014 by 2 Comments

Today I am guest posting and commenting at Young Adult Money. Please follow the link below and enjoy the rest of this post.

My wife and I spent a lot of time getting ready for marriage. We dated for several years, attended pre-marriage counseling, and talked for countless hours about likes and dislikes, our families, children and careers.

We didn’t talk a lot about money though. We might have touched on it briefly during our counseling sessions but I cannot remember sharing deep discussions about our views on debt, spending, or saving. It simply wasn’t on our radar.

I believe our experience is representative of many couples…

Continue reading at Young Adult Money…

Next Post: The Two-Faced Giver: When It Looks Like Rain It’s Supposed to Pour

Prior Post: How Being Flexible Saved Our Vacation

Filed Under: Marriage Tagged With: , ,

Why I’m Quitting My Job To Be A Stay At Home Dad

May 19, 2014 by 109 Comments

stay at home dadYou read that right. It’s not a misprint or a trick to get attention. As of Friday, May 23rd 2014, I will no longer be formally employed. I’m becoming a stay at home dad.

After 17 years in education serving as a principal, teacher, coach and mentor, I’m quitting my job to be a stay at home dad.

Those are the most exciting words I’ve ever typed on this blog! I’m starting a new journey.

They are also the scariest words I’ve ever typed on this blog because I’m starting a new journey.

I’ve waited a long time to share this news and start talking about what has brought our family here. It hardly seems real even after formally declaring my intentions. Maybe my new life as a stay at home dad will me next week as I start to clear out my classroom. My guess is I won’t feel it’s full impact until sometime next fall, probably on the first day of the new school year.

The decision to be a stay at home dad appears to have come out of nowhere to those in my circle of influence. Obviously the students were surprised last week when I shared the news with them. I hadn’t hinted at this at all, even though I’ve known for some time this was going to be my final year. What appears to those outside to be a surprise, is actually the culmination of a multi-year prayer journey.

That’s right…I don’t make decisions quickly. Especially when it comes to leaving a place to which I’ve committed my entire adult working life.

I can’t unpack all there is to share about this move in one single post. So if you came here looking for a step-by-step tutorial on how to become a stay at home dad or the financial challenges associated with it, that’s coming later.

For now, I’d simply like to focus on “the why.”

Following Through On the Stay at Home Dad Desire

Life is a series of choices. Sometimes those choices collide and cause friction no matter which option is chosen. Regardless of the situation, we can never say we don’t have a choice. There are always options.

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Filed Under: Career, Marriage, Work Tagged With: , , ,

3 Steps We Took to Develop Financial Success in Our Marriage

March 5, 2014 by 14 Comments

financial success in marriageMy wife and I have had success in marriage despite the fact we exhibit many different personality traits. I am more reserved, take my time with decisions and love to spend money. She on the other hand, is an outgoing, get things done driver, who coincidentally loves to save.

Despite our different personality types, we seldom disagree on financial related things. We learned early on that disagreements over financial issues were detrimental to our personal marriage, not to mention one of the leading causes of divorce in America. So we established some guidelines and parameters for our finances that helped us develop oneness in our marriage.

Steps to Develop Financial Success in Marriage

Our financial decisions have not always been the best. In fact, many of our money guidelines have evolved and been enhanced over the years. Within the last five years especially, we’ve realized more and more what it means to be on the same page with one another. It’s in this most recent period of our lives that I’ve noticed success in marriage growing. In regards to our finances, it all boils down to three big issues.

Listening to each other

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Filed Under: Managing Money, Marriage Tagged With: , , ,