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If you’ve ever wondered where old mobile phones and electronic devices like iPhones, Androids, iPads, tablets, and computers go to die, it’s pretty simple.

Some get tossed into a recycle bin somewhere to be parted out and melted down. iPhones are often passed down to children to be used as iPod touch substitutes. A large number of mobile phones are simply abandoned and misplaced due to neglect. Thankfully, a growing number are finding a next life with a new owner.

As a result, the secondary market for electronic devices is on its way to becoming as robust as the primary market.

So let’s say you’re ready to order the new iPhone 8 or X. You paid a lot for your current phone and it’s still in great condition. Your plan is to sell that old phone to help pay for the new one. You have options:

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Recently, while brainstorming with a reader who needed to supplement her regular full-time job, I made a quick list of the ways I’ve done that in my life. I wanted to help her discover what she does well that others might pay her to do for them. 

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Process Server

I worked as an independent process server for a company that attorneys hire to have subpoenas delivered in their civil cases. Whenever I had a couple of hours to spare, I’d pop into the office, pick up a stack of subpoenas and head out to attempt to “serve” unsuspecting defendants in civil lawsuits.

My mission was to locate the defendant then address the said person by name (Laura … Laura Smith?). By law, I was required to make sure I had eye contact, wait for that look of “knowing” and then hand off the document. Even if the person refused it, turning to walk (run) away, I could legally assert that I had completed the mission.

The best part? I got paid $35 per attempt to serve. That means if I knocked on the door and no one was home, attempt complete and back into the stack that document would go for a future attempt.

I could easily “attempt to serve” two or three subpoenas per hour. The attorney service company I worked for loved me because I was available at odd times, like late at night or early on a Saturday.

Process servers are legally required to serve papers in the correct manner laid out by their state. Process serving laws differ by state. But basically, if you are an adult, have not been convicted of a crime and can engage strangers in a warm and friendly way, it’s possible that you too could be a process server in your spare time.

Piano Teacher

I got started young at age 15 as a student teacher in a music academy. I loved it—not so much the teaching, but the $5 per lesson. My little students did well and soon I was teaching on my own, at home after school.

Teaching piano lessons was the way I paid my way through college. At one point I had 72 students, giving  30-minute individual and group lessons per week. Read more

If you’ve ever been in serious debt or are right now you know the feeling that your creditors own you lock, stock and bank account. I’ve been there, I know.

Debt steals your freedom one option at a time until you become its prisoner.

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Debt keeps you chained to a job you hate. It keeps you stuck in the past, unable to move forward in life. And big debt causes terrible stress that makes it hard to breathe, keeps you awake, spoils relationships and zaps the joy out of living.

It makes sense that if debt steals your options, then repaying debt creates financial freedom. But that’s not necessarily true.


RELATED: The Difference Between Safe Debt and Stupid Debt is Huge


If you spend just the amount you earn, you won’t be living beyond your means or creating new debt to bridge the shortfall, but you will be broke at the end of every month spinning your wheels, living from one paycheck to the next.

The first rule of sound money management is to live below your means—spend less than you earn. This means creating a margin between what you earn and what you spend. The secret to finding financial freedom—freedom from financial worry, fear and want—is in the gap between the amount you earn and what you spend.

The bigger the gap, the more freedom you will enjoy. It’s the money you don’t spend that gives you the freedom to grow your dreams and prepare for the future.

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In the wake of America’s big economic wake-up call back in 2008, dollar stores and thrift stores saw, and continue to see, a big resurgence. And now another kind of retail quasi-lender is commanding all kinds of attention from sellers and buyers, too—pawn shops.

I admit to having grown up with a weird bias against pawn shops. To me, pawn shops were just one level above Vinny the Loan Shark operating illegally in some dark alley in the bad part of town just waiting to break some knees.

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Where did that come from? I have no idea really, but let me quickly follow by saying it is a most faulty stereotype.

Pawn shops are respectable businesses that offer a viable service in many communities. And these days, thanks in part to Rick Harrison, whose family owns the Gold and Silver Pawnshop in Las Vegas and stars in the History Channel’s Pawn Stars—one of my personal favorites— business is booming.

What it is?

A pawn shop, owned and operated by a licensed pawnbroker, makes secured loans on personal property left in the broker’s possession to be held as collateral. The property can be redeemed by the customer when the loan plus a finance charge (think: interest plus per-month service charge) is repaid.

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A question I receive nearly every day goes something like this: I’m ready to take back control of my finances. But how do I get started? It’s like I’m stuck.

Don’t think you are alone if you find yourself wanting to do all the steps at once. But that could be a big mistake. If you were building a house, you wouldn’t try to pour the foundation, raise the walls and put on the roof all at the same time. It’s the same with building a plan to manage your money. You need to take things one step at a time …

 

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First, you need to lay the foundation. I call this initial step “tracking.” You cannot manage what you cannot measure. 

Tracking means knowing exactly where every penny goes. If you bring home $793.42 this week, next week you should be able to account for every single cent. Where did that money go?

I suggest that you track on a daily basis. The only way to do that is to write it down. Every morning start with a fresh sheet of paper or note on your smartphone. Somehow, come up with a method that works for you. Throughout the day write as you spend any amount of money, write it down. You need to record just two things: How much did you spend and what did you spend it on? How much, what for. Got it?

Do this for at least 30 days (longer may be necessary if you are really in a financial fog). One sheet of paper or note per day. Then just stash them away into a safe place and start fresh the next day. Ideally, both you and your spouse, partner or person with whom you share your finances should be tracking. 

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Revisions

If you’ve ever wondered where old mobile phones and electronic devices like iPhone, Androids, iPads, tablets, and computers go to die, it’s pretty simple.

Some get tossed into a recycle bin somewhere to be parted out and melted down. iPhones are often passed down to children to be used as iPod touch substitutes. A large number of mobile phones are simply abandoned and misplaced due to neglect. Thankfully, a growing number are finding a next life with a new owner.

As a result, the secondary market for electronic devices is on its way to becoming as robust as the primary market.

So let’s say you’re ready to order the new iPhone 8 or X. You paid a lot for your current phone and it’s still in great condition. Your plan is to sell that old phone to help pay for the new one. You have options:

Read more