5 Crazy Ways Millennials Are Making Money

As the newest generation coming of age and a rather large and significant one at that, millennials are a crafty bunch. 

Much of their effort has gone towards coming up with and seeking out new and crazy ways to make money, whether on the side or as a primary income. 

In spite of the stereotypes, millennials are a very entrepreneurial generation, and here are five of the crazy ways they are actually making money.

1. Freelancing or Starting Their Own Businesses

Millennials are considerably more likely to buck the norm of being employed by someone else. 

Even if they are searching for full-time employment, many of them will freelance or start a business venture on the side to make extra cash and gain experience that will serve them well in traditional jobs. 

Or they might choose to remain self-employed and grow their own businesses.

2. App Development

As a generation always on their smartphones, many millennials find the opportunity to develop their own smartphone apps an attractive one. 

With a basic understanding of app development scripting, or even commercial software that makes creating apps easier for people without serious programming knowledge, many millennials are creating helpful, fun and cool apps for everyone to use.

3. Streaming

Live streaming, especially of playing video games, has grown exponentially in popularity thanks to big sites like Twitch and VideoGameBroadcasts.com. 

Often these videos are for entertainment value, but they can also be an educational walkthrough of how to play the game and uncover its lesser known secrets.

4. Driving

Whether with Uber, Lyft or other companies, many millennials (the ones who have cars, anyway) are acting as chauffeurs to drive people where they need to go. 

They've taken Uber and Lyft up on the offer to work on their own schedules and earn a flat fee in addition to the distance traveled after Uber or Lyft take their cut for providing the connection between driver and passenger.

5. Selling Photos

Millennials interested in photography are taking photos and selling the licenses to bring in some decent extra cash. 

The new app Foap takes an even more creative direction—it allows users to sell licenses to photos taken on their phones and then, when someone wishes to buy the license, the original taker of the image gets a cut.

Everyone else can learn a lot from the cool ways millennials have learned to make money. So perhaps try out some of these money-making methods for yourself and see why millennials are attracted to such crazy, different and creative ways to make money.

Seeking Financial Help: 4 Reasons Why It's A Step In The Right Direction

Your credit score can influence many aspects of your life. Having good credit can be the difference between getting approved or denied for a home loan. Having bad credit may even prevent you from getting a job or renting an apartment. 

Understanding the difference between good credit and bad credit is the key to knowing when you need to seek financial help. According to a study by Lexington Law Firm, many American consumers still do not understand their credit score. 

The study estimates that of all consumers with a poor or fair credit score, roughly 30% of them believe that the cost of credit repair is what is keeping them from taking action. 

To the contrary, the benefits of hiring a credit repair law firm can far outweigh the cost of living with poor credit. To help you decide if this path is right for you, here are 4 reasons to seek financial help:

Get Results Quickly

One of the biggest advantages of seeking credit repair assistance is that they take immediate action. Working on your behalf, the credit repair agency or firm will work directly with your lenders to resolve your credit issues. 

This means that you never have to worry about tackling the long and tedious task of repairing your credit because a dedicated team is already working on it. When dealing with your debtors, there are many laws and processes that you need to be aware of. 

Additionally, there are some situations that may require disputing or challenging items with the credit bureaus, collection agencies or original creditors. By enlisting the help of a credit repair firm, you are placing this responsibility in the capable hands of experienced professionals. 

They can review your reports, gather information and develop a plan to remove questionable items from your credit report.

Avoid Getting Caught In A Web Of Legalese

Another advantage of hiring a credit repair agency is that they have a thorough understanding of the law. They can leverage federal laws to help you get the credit that you deserve. Credit repair firms can ensure that creditors are in compliance with federal laws such as:

• The Fair Credit Reporting Act (FCRA).
• The Fair Credit Billing Act (FCBA).
• The Fair Debt Collections Practices Act (FDCPA).
• And other applicable statutes.

Enjoy The Long-Term Benefits Of Your Short-Term Investment

Once they have successfully repaired your credit, you may be able to get lower interest rates on loans or credit cards. 

Many lenders use your credit score to determine how much they will let you borrow and how much interest to charge you. Setting aside funds now for credit improvement may save you a lot of money in the long run.

Get More Time To Spend With The Ones You Love

Credit repair companies do all the hard work so that you do not have to. They spend hours combing over your credit report, searching for inaccuracies and reaching out to creditors. 

If necessary, they may be able to help you negotiate with your creditors or have negative items removed entirely. While the credit repair agency is hard at work repairing your credit, you are free to spend more time at school, work or with your family and less time worrying about your credit score.

The road to better credit can be long and bumpy. Luckily, you do not have to travel this road alone. Seeking financial help to improve your credit score may lead to more positive credit decisions and increased employment opportunities. 

If you need help choosing a firm, research credit repair company reviews so you can find the one that is right for you. Don't go another day with poor credit. Seeking financial help can be your first towards getting organized financially and in life.

Fresh Auto: 4 Reasons People Should Budget Before Buying A New Car

Buying a new car may be a worthwhile investment especially if you are constantly taking the bus or putting money into your current junker. However, new cars can be really expensive. 

That is why it is always a good idea to create a budget long before you start shopping for your next vehicle. That way you can make sure that you have the right amount of money saved up to be able to afford the car of your dreams. 

Here are some other reasons why it is a good idea to save up for a new car. 

You Don't Want a Salesperson Telling You What to Buy

When you determine your budget ahead of time, it helps to determine what type of car that you will buy. For instance, if you determine that your budget is $10,000, you aren't going to buy a new Mercedes. 

Instead, you may be looking at a late model Hyundai or a Nissan Versa if you want to buy a vehicle from the current model year. 

Never Base Affordability on the Monthly Payment

Many people determine if they can afford a car based on the monthly payment that they are given. What most people don't realize is that lower payments are generally the result of a longer loan term. 

While buyers may think that they are saving money, they are really paying their lender more interest and building equity in the vehicle at a slower pace.

Make It Easier to Shop for Financing

Lenders base their interest rates based on how much you borrow, how long you want to borrow for and whether the car is new or used. 

Setting a budget ahead of time allows you to do so with those factors in mind. This helps you determine if you want to go to a credit union for a loan, talk with an online lender or just see what a dealer has to offer. 

Those in the Cincinnati area can visit dealers like those at Milton Ruben Toyota if they need a loan.

Can You Afford to Buy Right Now?

Just because you want a new car right now doesn't mean that you can afford buying a new vehicle that meets all of your needs. 

In some cases, it may be best to lease a vehicle or save up for a few months to make a down payment. Waiting may also be a good idea for those who need time to improve their credit to get a better interest rate.

If you are in the market for a new car, it may be a good idea to consider your financial situation before you start shopping. This enables you to control the car buying process as opposed to allowing a salesperson to make decisions for you.

3 Ways To Avoid Future Debt When Buying A Car

Buying a car usually means taking out a loan that will be the buyer's responsibility for the next several years. However, this does not doom a buyer to future debt obligations just so they can have a reliable means of transport. 

Buying within the limits of one's likely needs for the vehicle, aggressive payments towards the loan, and smartly cutting losses on money-pit vehicles can go a long way towards reducing the possibility of ongoing debt. 

Remember that the extent of future debt is dependent on available cash and other liquid assets that could offset that debt. Smart money management and understanding the value dynamics of cars can go a long way towards minimizing ongoing debt. 

Here are a couple of things to keep in mind.

Stay Within Limits

Buying a car entails making decisions about types of vehicle, additional warranties, features, and so on. A general rule is to keep things as low-cost as possible without sacrificing performance or putting on excessive risk. 

This means that a smaller car with more protection and coverage could be a better deal than a more expensive "tougher" vehicle with bare-bones coverage or repair warranties. 

Pay Ahead

Paying more than the stated minimum, and making more such payments if possible, knocks down car loan principal faster. 

The result is a quicker road to legal ownership of the car's equity, less total loan expense and greater resale value should the owner decide to sell when the loan is paid off. 

Future debt becomes more of a possibility and challenge if existing car payments linger and weigh down a buyer's net liquid cash. In addition to paying ahead, you also must pay attention to the terms of your loan. 

If you’re a first time buyer, you may be eligible for special promotions that will help you pay off the loan faster. Companies like BlueSky Auto Finance can offer these deals, but make sure you ask if they don’t.

Cut Losses

Barring exceptional upkeep and specialized car enthusiasm, a car is certain to be a depreciating asset. 

Be careful not to sink more money in the car than it is likely worth. Kelly Blue Book and similar services can give a close estimate for how much a car can fetch on the market. 

If a buyer ends up sinking as much, or more, into car repairs and insurance than they could extract from it through a trade-in or sale, cutting losses and selling is typically a lesser evil. 

The sale funds and lesser ownership expenses could be used to offset future debt.

Combined with financial maneuvers such as co-signing in case of credit issues, these tricks will go a long way towards warding off future debt when buying a car. 

Services such as Blue Sky Auto Finance are always willing to work with prospective buyers to find a solution that works.