The $100 Hour
Posted on September 15, 2008
Filed Under Snowflakes | 1 Comment
One of the best ideas I’ve found while reading Making A Living Without A Job
The idea is beautiful in both scope and simplicity. If you are just getting started on the road to financial independence, having a few small successes can have a really positive effect not on just your self confidence, but on your cash flow as well.
So what qualifies as a $100 idea? The author gives 18 starter ideas in the book. I would say that in order to qualify as a “good” idea, it should at least meet most of the following criterea:
- The $100 should come fairly quickly, like within 12 weeks. This means saving 10 cents a day, every day for 3 years, although it will net you over $100, probably doesn’t qualify as a “good” idea.
- Not take an inordinate amount of time or cause undue disruption to your life. Doing consulting work at $25 per hour or more could probably be considered a good idea. Any work at minimum wage or less, probably not.
- Requires little or no money to implement. We’re talking cash generation here, not investing or building a business.
- (Relatively) risk free. No day trading.
- It should be legal. Getting caught doing illegal things might allow you to have a free place to stay (with meals!) for awhile, but doesn’t do anything to help you eliminate debt or build wealth.
How easy is it to come up with ideas? The author gives you 18 to get started with, so even if you can’t think of anything on your own you have a place to start. I was able to come up with 5 ideas of my own in the time it took me to read this section of the book. Yesterday before church I sat down with a notebook to seriously brain storm this and came up with a list of 70 more, and I am not exactly a model of creativity. I’ll be presenting them here over the next few months. In the mean time, time to start implementing them. If you see one you like, feel free to use it yourself and let me know how it goes.
Cheers,
Ken
I like this idea and am looking forward to you sharing your ideas with us. The trick is making yourself sit down for an hour to come up with these and then finding the time to actually implement them. Sometimes it’s just easier and more time efficient to get a part-time job.