Provident Mom

It appears that PayPal has a little competition. Are they shaking in their boots? Maybe they should be.

Revolution Money Exchange is the name of the company that’s seeking to topple the e-Bay-backed indomitable PayPal. And they’re trying to get you hooked by giving you free money, $25 to be exact, and more if you’re willing to get your friends to sign up.

Revolution Money Exchange is advertising free services, which is their selling point over PayPal. I don’t know if you’ve noticed, but PayPal has become rather pricey as of late. They like to take their chunk of the transaction. The only services Money Exchange is currently charging for are withdrawing money by check (instead of directly to your checking account), stop payments on checks, overdrafts, paper statements, and returned ACH.

It looks like a pretty safe enterprise. It’s FDIC insured.

The word isn’t out yet on whether eBay will cooperate with Revolution Money Exchange. But it would be great for using to sell items, to pay freelancers, and to split bills.

And the $25 for signing up never hurt anyone. Investigate, and let me know what you think.

Provident Moms may find that a little extra cash is helpful every now and then, but they don’t want to be tied down to a regularly scheduled job. This is when it’s helpful to get a little work on the side, something you can do during naptime or while the kids are at school. You may not think you have any marketable skills, but you’re wrong. Of course you have marketable skills. Here are some ideas to get you thinking:

Writing
Even if you’re just a mediocre writer, you can make some money this way. Visit some of these websites and you’ll see that there’s quite a demand for your writing skills out there, especially for web content.
www.xomba.com
www.guru.com (not just for writing)
www.demandstudios.com
www.shvoong.com
www.associatedcontent.com
www.craigslist.org (looking under the writing section)

Accounting
If you have accounting skills, you can put them to work for one of the many small businesses out there that doesn’t have enough work or money to hire on an accountant full-time. This is easily done from home. Check craigslist or your local classifieds, or better yet, make up a website and advertise in a local paper.

Selling
Get an ebay account and begin by selling things around your house you no longer need. Drop by the local thrift store once a week or so and grab up items that you know others will pay for. I once came across a box full of American Girl doll clothes, which made a tidy little profit on Ebay.

Cleaning
A friend told me about a dream job she once had. For $50 per night, she would clean up a small office nearby. It took her about an hour and she did it after the kids were in bed. This little job netted her $1,000 per month.

Consulting
Do you have skills you haven’t used for a while that could be valuable to someone on a consulting basis? Do you know much about landscaping? Decorating? Graphic design? Tutoring? Translating foreign languages? These skills can earn you some money if you find the people who need them.

Music Lessons
Music teachers can easily charge $15-$25 for half hour lessons. If you don’t mind the commitment of weekly lessons, this can be a great way to earn some extra money. If you already have an instrument, your students will come to you. You just have to be there and be prepared.

There are countless other ways to earn money on the side. If you’re coming up a little short or just want to add to your savings or college or retirement accounts, find a little job that suits your life.

Alright, girls. You have money coming at you in the mail. I’m sure by now you have calculated about how much it will be and thought of a thousand things you could buy with it. The kindergarten moms have been discussing these very issues as we wait for our 5-year-olds to emerge from the school.

We all know that lawmakers are hoping that this tax rebate will stimulate the economy. After all, it’s part of the noble sounding “stimulus package.” How will giving money to regular Janes like us stimulate the economy? Well, generally speaking, when Americans have money, they spend it. Spending should help businesses do well, which should help stocks to rise, which should make everyone feel more comfortable.

Does this make sense? Where is the money coming from? Isn’t our country in major debt already? Aren’t we at war? In past years, during wartime, Americans sucked it up and went without sugar and nylons. But now we just complain about the war whenever we see an update about it on our big screen TVs.

Enough ranting. I read recently that one of the major reasons for this economic downturn is the negative savings rate. Over the past 20 years, the savings rate in America (the amount of money Americans save from their paychecks) has diminished to the point of nonexistence. Today we actually have a negative savings rate, which means that people spend more than they make. When there are no legitimate assets, capital costs more. It costs more for small businesses to take out loans.

So here’s my tax rebate dream. I have a dream that people will take their tax rebates and pay off their debt. Pay off the credit cards. Pay off those cars. Pay down those mortgages. If you don’t have debt, then put that money in the bank or invest it in something worthwhile (not the lottery). You don’t need an iPod or a new cell phone or new curtains.

Or if you have considered starting a business of some sort, use this money to start a business. Do something with it that will help your financial outlook. Buy some food to store away for a rainy day. But whatever you do, please don’t go out and blow this money on electronics.