Sabrina
I know there are a ton of websites that advertise or list a million different things that you can do (most of them, online) to bring in a substantial side income. While those lists may be useful as a starting point for brainstorming, if you're looking for tried and tested methods of making a good income on the side, here are some methods I've tried:

1. Babysitting: I've done this since I was 15, and while I only made $5 per hour when I started, I now charge $15 per hour. Not only do I consider myself more experienced with kids, but I now have more knowledge about how to actually care for kids, having completed an undergraduate degree in health. If you're in a similar boat, with valuable caretaking skills, this can be a good way to make a side income or when in between jobs.

2. Tutoring: This is particularly lucrative if you have knowledge in a specialized or difficult to teach area, and if you can do it well. I tutor calculus on the side, and have charged upwards of $30 per hour, particularly when the subject matter was university level calculus.

3. CV creation services: If you have impeccable writing skills, and are good at marketing, consider marketing others' skills. Not only can you make a decent income, depending on your clientele and the amount of money they stand to make from a polished resume, but it's satisfying to know you're helping someone else obtain a new/better job. It's also a great way to make contacts, contacts who in the future, can vouch for your skills as a writer, editor, and marketer.

4. Ether: If you haven't heard of this website, you've been missing out. If the service you're offering does not require face-to-face contact (i.e. counselling, tutoring, life coaching), you can sign up on this site and be assigned an anonymous 1-800 number that you can use for your potential clients to contact you. Of course ether takes a small cut (about 15%), but ultimately, it's a great way to acquire new clients.
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Sabrina
This past week wasn't too bad, spending-wise:

- I got paid ($1287)
- I transferred some money ($97) to my ING savings account for use towards my annual life insurance premium. I now have the full amount I need saved (just over $200).
-I transferred about $1200 to my brokerage account to be invested (since the markets are down again, I figure it's a good time to park it in something other than cash!)
- I spent some money eating out, but it was a hectic week - I ended up working over 60 hours.
- I also spent some money on gas, but I still have a half-tank left for use this week.

I'll be off work this coming week and am planning a "staycation". I've given myself $40 per day for discretionary spending, obviously not including gas. With that money, I anticipate spending about $14 per day on yoga, about $10 per day on food on average, with the rest ($16) being spent on activities and miscellaneous. I now this seems restrictive being that it's my one week off this year, but the whole point of staycationing is to save money. If I wanted to spend a thousand bucks, I would have booked myself on the first flight to Cuba and called it what it is.

Your Weekly Summary


For Friday, February 10, 2012



Where My Money Went


You spent $214.79 over the past 7 days.

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Your top spending categories:


$97.48 Transfer to savings

$70.00 Gas & Fuel

$32.57 Fast Food

$14.74 Alcohol & Bars


Compare to previous spending

Sabrina
This week was another frugal week for me. I actually only spent $71.90, because the $1.00 I spent "shopping" was the temporary (refunded) authorization charge that Amazon.ca charged my credit card to list some of my old textbooks for sale on their website. And of the $40.00 withdrew for food this week, I still have $20 left in cash for this upcoming week.

The $47.90 I spent on "Financial" comprised mainly the $23.95 I spent on my credit report and score from Equifax, which I still think as well worth it. I found out by checking out my report that I'm only 1 point from shifting myself out of the "good" score category to the "very good" score category. I also found out that CIBC has erroneously reported my $10,000 student line of credit (LOC) as two separate lines of credit, notwithstanding the fact that I paid off and closed the LOC I had with them during undergrad and opened a brand new one when I started law school. Apparently, they never reported the old one as having been closed, so it appears as though I have twice as much debt with them as I actually do. I'll be filing a dispute with Equifax this week.

I wish I had known sooner so that I could have corrected the error before I applied for a mortgage through TD. I wonder if anyone else has had issues with banks not correcting financial data when accounts are closed.

Where Your Money Went


You spent $92.90 over the past 7 days.

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Your top spending categories:


$47.90 Financial

$40.00 Food & Dining

$4.00 Fast Food

$1.00 Shopping


Compare to previous spending