How to Save Money on Your Home Insurance

(This is a guest article by Bailey Harris*)

Millions of people overpay for home insurance each year. If you think you may be among them or if you are just looking for a few ways to cut costs, the following tips may help you save money on your home insurance premium.

Lower Your Deductible

If you make a claim, you will have to pay what is known as a deductible before your insurance company will agree to pay their part. A low deductible results in a higher annual premium. A high deductible, on the other hand, will provide you with a lower annual premium. You may be able to save 20 percent or more by raising your deductible from $250 to $1,000. A really high deductible--$5,000 or more--could save you as much as 40 percent.

Combine Coverage

Purchasing more than one type of insurance, such as auto and home or umbrella and home, from a single company can help you save a bundle on all of your insurance coverage at the same time. Nearly every insurer offers a multi-policy discount. However, the percentage of the discount can range from company to company, so it is always a good idea to ask exactly how much you can save by combining policies.

Insure Your House Not the Land

Many people pay a higher premium than they need to because they make the mistake of insuring to buy versus insuring to rebuild. You do not need to buy an insurance policy that is equal to the price you paid for your home. All you need is a policy that will cover the cost to rebuild your home and replace the contents within.

Improve Home Security

Some insurers offer special discounts to homeowners who have taken steps to improve home security. Items that frequently result in a discount include fire alarms, carbon monoxide detectors, deadbolts, burglar alarms, and sprinkler systems. Check with your insurer to see if a discount is available and how much you may be able to save by installing one or more of these items.

Disaster-Proof Your Home

Making your home more resistant to fire and water damage or natural disasters, such as windstorms, hurricanes, and earthquakes, may also net you a discount on your home insurance. Some of the improvements that commonly lead to savings include updated heat or electrical systems, reinforced roofing, and shutters.

Maintain Good Credit

Many insurance companies use an "insurance score" to help determine how much customers should be charged for coverage. Your insurance score is based on your credit score, credit history, and other metrics. If you have good credit, you will be charged less for insurance than someone with bad credit.

Seek Out Additional Discounts

There may be other home insurance discounts that you are eligible for, such as a renewal or loyalty discount, a senior or mature policyholder discount, a non-smoker discount, a group discount, or a professional discount. Ask your insurance company for a list of potential discounts as well as eligibility requirements.

Shop Around

Comparison shopping is the best way to save money on your home insurance. The cost of coverage can vary considerably from company to company. You may be able to save hundreds of dollars simply by switching providers. Quotes from various insurance companies are available from free online services. You can also get quotes by calling individual agents in your neighborhood.


*About the author: This is a guest post from Bailey Harris, who writes about homeowners insurance for www.homeownersinsurance.org.

*Image Credit: Photograph by renjith krishnan [via http://www.freedigitalphotos.net/]

Guarantor Liability

While learning about the nomination rules for various investment avenues, I got into thinking about the rules related to being a guarantor. The term is typically confused with a reference required sometimes. It is very common to see friends asking their office colleagues or family friends to become a loan guarantor.

I am sure that most people would be very willing to help the needy friend by readily becoming a guarantor without understanding the full implication. The most common mistake happens because a guarantor is thought of as a reference. The problem is that, in the ambit of law, a guarantor is much more than just a friendly reference.

The definition itself tells a lot

“A guarantor for bank loans means a person who promises to provide payment on the loan, or other liability in the event of default.”

It is pretty obvious why banking institutions asks for a guarantor, since lending money is always a risky business with lot of chances of default by the person taking loan. So guarantor is like another chance for the bank to recover the loan money. But with a huge liability, why would anyone want to be a guarantor? A father would readily be a guarantor for his son’s education loan due to emotional reason, but others are gullible enough to not understand the liability of a guarantor and the legal implications.

What happens on a loan default?

If you are guarantor to your friend’s loan and he defaults (essentially not paying the EMI), what do you think will happen? You would think that the bank will chase your friend for the payment. Also if he is unable to pay, bank may pursue a legal course against your friend for recovering the loan amount.

Well here is the shocker!! The bank can actually issue a legal notice to you as a loan guarantor along with chasing your friend for recovery. Supreme Court indicates:

"The legal position is clear that liability of the guarantor and principal debtor are co-extensive and not in alternative," said a Supreme Court Bench comprising Justices Dalveer Bhandari and H L Dattu bursting the myth that the principal debtor had the primary liability to pay up a defaulted loan.

In plain language, the bank (or who-ever lends the money) has full right to pursue both the primary debtor (who took the loan) as well as the guarantor at the same time.

            Liability of guarantor is exactly same as that of person taking the loan.

It is important to note that a guarantor involved in a defaulting case would have a negative impact on guarantor's credit history as well. Also once a default has happened, there is very little a guarantor can do except to talk to lender and borrower and try to make a settlement.

So be very careful when providing a guarantee, since being a guarantor is akin to taking the loan yourself without getting the money.

10 Secrets to Landing the Best Job Even Before You Graduate

(This is a guest article by Mark Macaluso*)

It’s no secret that every college student aspires to secure a good job as soon as they graduate or even before; it’s what they go to college for, and it’s the sole purpose of all their hard work. So when you know you’ve found that perfect job even before you’ve stepped out of school, the elation you feel is like nothing else – you know you’ve saved yourself the agony of being a graduate without a job, you’re free of the pressure to find one even as the bills start piling up and responsibilities come calling, and you can hold your head high that you’ve achieved success in the shortest possible time. It’s not that hard to land your dream job, not if you’re willing to do all it takes; so here they are then, the secrets to landing a great job even before you graduate:

1. Start early – even as early as high school. When you know what you want to become even before you graduate high school, it’s easy to plan your future and work towards it.


2. Plan your career based on your interests and future prospects – make a list of all the disciplines you’re interested in and one of careers that have potential and where job prospects are good. Cross check the two lists and pick a major that finds a place on both lists. This way, you’re assured of a job that you’re interested in when you graduate.


3. Work on your grades – college life can take you by surprise and all the freedom after the rigidity of high school could become too much to handle and you find your grades slipping. You must make an effort right from the beginning if you want to keep your grades up because good grades and consistency translate into good jobs at the end of four years.


4. Watch what you say or post on the Internet – social networks are great no doubt, but they’re a major reason why people are losing their jobs. If you’re indiscreet in what you say or do online, if you have photos that could be construed as proof of irresponsible behavior online, you could find that employers are not too keen on hiring you, even if your credentials are otherwise impeccable.


5. Find internships – one of the best ways to gain experience in and test the waters of any industry is to find work as an intern during your vacation. Think of it not as giving up your vacation but as a great way to check if you like a certain kind of job and if you’re suited to it and the easiest way to gain experience while still in school.


6. Create a great resume – when your resume speaks for itself and serves as the perfect means of introduction to a potential employer, there’s nothing you need to worry about. Don’t exaggerate your accomplishments or lie about them; remember, your resume must create a positive impression and make the person reading it want to know more about you.


7. Develop a network – let people know you’re looking for a job in the industry of your choice; keep in touch with the people who matter; make friends during your internship and focus on generating a positive impression all round.


8. Attend job fairs – don’t miss out on opportunities to attend job fairs that are held in your vicinity. It’s your best chance to see who’s hiring and what your prospects are.


9. Work on your interview skills – prepare for your interviews by learning more about the organizations you’re applying to, the positions you’re hoping to get, and by honing your interview skills. An interview is most often the last hurdle before you’re hired, and if you’ve come this far, you cannot blow it by not meeting expectations.


10. Do your research – know which companies are hiring and what kind of people they’re looking for. You could post your resume on various job sites and also send it out to companies you know are hiring based on your research.

The key to securing your dream job even before you graduate is to set a goal, plan ahead, and work towards putting your plan into action so that you achieve your goal.

*About the author: This guest post is contributed by Mark Macaluso, he writes on the topic of Masters in Accounting. He welcomes your comments at his email id: mark.macaluso985<@>gmail<.>com.

*Image Credit: Photograph by cobalt123 [via Flickr Creative Commons]

Future of Credit Cards

 Although I do hate credit card, but there is no doubt that this is going to be the default mode of payment in future.

The credit card companies make a load-full of money sometimes not by ethical means but they are also spending a lot of money in the future technology of credit card which may be more secure and more useful for the end consumer. So what’s the future of credit card? Here are some glimpses:

1) Multi Account Credit Card

The Multi Account Credit Card has two buttons on its face each with an indicator light. So you can essentially have two accounts in the same card. You can also have a credit and a debit card rolled into one. The card contains a lithium-polymer battery inside can last four years under high usage. They're also fully waterproof,

2) The Hidden Credit Card

This card does not display all the digits of your account number and some digits are hidden. This credit card has a keypad and black-and-white display for six of the digits in the card's unique number. Once the correct PIN is entered on the card's four buttons, the missing digits are filled in and the card's magnetic strip is populated with data. Both the digits and the strip become blank again after a short time. If the card is lost, no-one can use it.

3) Contact Less Credit Card

These are essentially chip-cards that works on the RFID mechanism. The idea is that you do not need to swipe and you can just wave the card in front of a special RFID scanner who can charge your card quickly. The RFID chip can transmit a lot more information without having to dial in to a network. American Express says its ExpressPay transactions are 63 percent faster than using cash. I guess, if this technology works out, then the chip may be implanted in other devices like watches or cell phones

4) Citibank’s 2G Cards

The Citibank 2G cards are special cards that allow users press the request-rewards button before swiping the card for paying with their card points. The action of pressing the buttons changes the data imprinted on the magnetic stripe.

Check out the video for the demo of some of these cards

There are definitely lot of issues with the new technology that should be sorted before these become the de-facto credit cards. The key point for getting these technologically advanced cards relies in the adoption strategy by the millions of vendors who have already spent money for the infrastructure of today’s simple credit card. So they definitely would need some incentive to switch to advanced technology. Also the security is going to be utmost significance especially for contact less credit cards. I hope we see these soon in India, since I expect that these advance cards will bring more security to the end consumer.

Infrastructure bonds not really tax-free

In my office there was a lot of hype over investment in the IDFC Infrastructure bonds which were recently issued. These were considered as a great investment vehicle by most of the websites/media channels, goading the retail public to take part in the issue.

I felt that the biggest mis-information regarding these infrastructure bonds is the notion of it being tax-free. Also the problem is compounded by the introduction of section 80CCF in the IT Act by the government which allowed additional window of tax deduction of investments upto Rs 20,000.

But as I mentioned earlier that there are lot of caveats to investing in these infrastructure bonds.  The biggest confusion most retail investors have is that the bonds are tax-free, but they are not. The interest received from these bonds are actually taxable and it has been mentioned in the prospectus of the IDFC Infrastructure bond[PDF] as well (check page 29). The current IT Act does not exempt the interest earned through these infrastructure bonds although the tax at source (TDS) is NOT deducted. 

The 20,000 Rs additional tax deduction window is too small for any significant benefit. So if you fall in the highest bracket you save at the most Rs 6K a year. The interest earned by you at the rate of 7.5% to 8% will get lower after you include the interest in your taxable income and pay tax on it.

Also most investor think that investment in these bonds is as secure as a fixed deposit, but in-fact these are not as secure. The investors should visit the Risk Factors (Page 46) in the PDF to become aware of the risk in these investments.

I suggested in my earlier post to wait before investment and now I would suggest to invest only if you want to diversify your portfolio to include these bonds, otherwise I would suggest an equivalent investment in mutual funds (higher risk appetite) or in gold (higher gains with lower risks) since these avenues are much better than infrastructure bonds in the current form.

UPDATE: The tax-free bonds typically signify that the investment amount can be used against tax reduction, but I feel that it creates a confusion and should only be applied to EEE type of investments.

8 Things To Do If Your Wallet is Stolen

(This is a guest article by David*)

There are few things that might churn your stomach and make you break into a sweat quicker than the loss of a wallet. The sad part about it is, in the overall scheme of things, it probably isn't the cash inside that you've lost that concerns you. It's likely the loss of all those little plastic cards with numbers printed across them that terrifies you the most -- that, and not knowing into whose hands they've fallen.

Recently I had my wallet stolen from the beach. The thieves didn't even get one dollar of cash and didn't manage to use any of my cards thanks to prompt canceling of cards. The police are never that hopeful of finding the thieves or recovering a wallet and so all they can do is give you an incident number to use with your banks, phone company etc.

If you've simply lost your wallet it could be a good samaritan who has discovered your wallet on the street. Unfortunately, you can't necessarily assume a well-intentioned citizen has hold of your wallet and is contacting the proper authorities. While in some cases you might luck out and have your personal affects returned to you, in most scenarios you'll have to assume the worst and get started on doing everything in your power to ensure the forces of evil aren't making the most of your misfortune. Here are a few tips to help you do so.

1. Make a Thorough Search

While you want to be quick about reporting a stolen wallet, you may not want to jump the gun before you've made a thorough search of the spots you visited last or at least make a quick phone call or two. Had you been eating at a restaurant, visiting a hotel, stopping in at a friend's, or frequenting another place at which you may have lost your wallet, it could be a long shot, but you might want to contact that business or person just to see if your wallet was turned in. However, even if someone did return your property, it doesn't mean that all its contents are there or weren't somehow compromised, so it might still be a good idea to consider or carry out the following steps.

2. Contact Authorities

Probably, one of the first things you'll want to do if your wallet has been stolen is contact the local authorities and file a report. This can be an important step, not only in the event that they can locate your wallet, but a police report can be important documentation should your personal or financial information be compromised and you must take action to recover your identity through various businesses or agencies.

3. Make a List

If you don't have one already, you should try to make a list of every item in your wallet. This may not be easy, but try to remember any and every item that could have been lost, especially those that had pertinent personal or financial information contained upon them.

4. Contact Credit Card Companies/Bank

Putting a halt to thieves using your credit or debit cards will likely be one of the first things on your to-do list after your wallet has been stolen. Hopefully, you have those numbers from the back of your cards to report them lost or stolen, but if not, you will probably have to contact the credit card company or bank and speak to a customer service representative who can guide you through the process of what to do. Take note, because it might have to be a process you have to repeat multiple times. If you had other pertinent information such as checking or savings account numbers in your wallet, you will want to notify your bank or financial institution of that as well.

5. Contact Credit Agencies

Beyond your credit and debit cards, you will probably want to contact each of the major credit agencies to place a fraud alert on your credit report. These three agencies consist of Experian, Equifax, and Trans Union, and it can be critical to the health and safety of your credit that you notify them as soon as possible after the theft of your wallet.

6. Notify Friends and Family

You may be carrying contact information of friends or family within your wallet. Phone numbers, email addresses, and similar information in the wrong hands could lead to those you care about being scammed by con artists or thieves. Therefore, it can be important to their safety to let them know what has occurred so they can take proper precautions.

7. Be on the Lookout

So now that your wallet is gone and you've notified the pertinent and proper businesses and persons, it's time to start keeping a good eye on your personal information and financial accounts. Even though you may have notified your financial institutions and placed fraud alerts on your accounts, it is still a good idea to be on the lookout for changes or odd activity related to your accounts. And if you had home and work information in your wallet as well, it may not only be the security of your accounts you have to watch out for, but work and home security as well.

8. Start the Rebuilding Process

The rebuilding process, replacing the things that you lost when your wallet was stolen, is probably going to be a royal pain in the neck, and there may be more items to replace than you initially realize. Besides contacting critical agencies like credit card companies and banks, you'll likely have other places to contact and you'll probably have to get a variety of new cards. Here are a few of the other cards you might have to replace or places you might have to notify regarding your loss:

• Driver's license


• Library card


• Auto insurance company


• Health insurance company


• Employer

Time is often of the essence when you've had a wallet stolen. And it can be critical to the protection of your financial security, and possibly your personal security as well, to cover as many bases as you can think of after such a loss. Even if you don't see any activity on your accounts initially, it's important to remember to keep a watchful eye on such areas. Although much of the time such activity might occur almost immediately, it doesn't necessarily mean your information might not be used in ways that could come back to haunt you down the road.

*About the author: This is a guest article by David. David writes about personal finance for CreditCardCompare.com.au where you can find the best credit cards for Australians, including a range of low rate credit cards that help cut costs.

*Image Credit: Photograph by Andrman [via Flickr Creative Commons]

10 Quick Fixes for Your Credit Score

(This is a guest article by Bailey Harris*)

Paying your bills on time is the best way to obtain and maintain a high credit score. However, there are a few other things that you can do to boost your credit score before applying for loans and other types of credit. Here are 10 quick fixes to try today:

1. Correct Major Errors

Some errors, such as incorrect address information or name misspellings, have very little (if any) effect on your credit score. However, there are some errors--negative items that aren't yours, paid accounts listed as unpaid, etc.--that can drag your score down considerably. One of the very first things you should do is check your credit report for errors, and if necessary, make an effort to correct bad information with all three credit bureaus.

2. Pay Down Credit Card Debt

Paying down revolving accounts is easily the quickest way to boost your credit score. If you can manage to pay down or pay off credit cards over a two month period, you will see substantial results. You should start with cards that are closest to their limits versus cards with the highest interest rates. If possible, get balances down to 30 percent or less of each card's limit.

3. Transfer Credit Card Balances

If paying down debt is not an option, try transferring the credit card balance from a card that is nearly maxed out to one or more cards that have few or no charges on them. Spreading out your debt in this way is the second best way to fix credit fast. If possible, get the balance on every card down to 30 percent or less.

4. Update Your Credit Limit Information

Your credit score may not be accurate if there are problems with the credit limits being reported by the companies who issued your credit cards. Credit card limits often change--maybe you requested more credit or maybe your limit was extended by your creditor. Whatever the case may be, make sure the credit card limits being displayed on your credit report are correct. If they are not, ask the company who issued the credit card in question to update the three bureaus with your most recent credit limit information. Most companies will update this information upon request.

5. Change Your Payment Dates

Every credit card company reports information to credit bureaus on different days. These days rarely line up with your billing cycle. So, if you make charges and pay your credit card off every month, the credit bureaus may still think you have a balance on your card--even when you don't. You can remedy this problem by checking your credit report to see which day of the month your creditors send updates on payments to the credit bureaus and then making your payments several days before this reporting date. You could also request that the company give you a new due date. These strategies will have a minimal effect on your credit score, but they are worth trying if you want to massage the system in every way possible.

6. Piggyback on Someone Else's Good Credit

If you have a spouse, parent, or another close friend or relative with good credit, you may want to consider having your name added to one of their credit cards. This method of piggybacking can have a positive impact on your score because it allows you to get credit for every charge they make and pay off by the due date.

7. Dispute Old Negatives

If you have an old negative on your account that has been sent to a collection agency, such as an unpaid cable bill, you could dispute the account with all three credit bureaus. You should mark the account as "not mine" versus "unjust" to increase your chances of winning the dispute. If the amount is small, the collection agency may not even take the time to bother with it when the credit bureaus investigate the situation.

8. Ask for a Goodwill Adjustment

A goodwill adjustment occurs when a creditor or lender agrees to erase a late payment from your credit history. You will have to request this adjustment personally--either in writing or over the phone. If you have a long-standing or positive history with a creditor, you have a better chance of getting this adjustment, but it never hurts to ask in any case.

9. Get a Rapid Rescore

Rapid rescoring services can help you quickly and efficiently correct errors or pay down balances. With the help of a service, you could see a higher score in as little as 72 hours. The cost for rapid rescoring varies depending on the service you hire, but typically runs somewhere around $50 per account.

10. Simulate Various Scenarios

If you want to see what impact these strategies (and others) may have on your credit score, you could try punching your information into a credit score simulator. Most simulators will show you how paying off balances, making a late payment, or removing negative information from your credit report will affect your credit score. The official FICO site offers a great simulator to people who have purchased a copy of their credit score. There are also a number of free simulators that can be found online.

*About the author: This guest post was contributed by Bailey Harris, who writes for CreditScore.net.

*Image Credit: Photograph by meddygarnet [via Flickr Creative Commons]

10 Tips to Get Your Job Through Campus Recruitment

(This is a guest article by Tom Becker*)

The job application process can be a nerve racking experience; one that may involve a great deal of preparation and stress. However, being able to interview through campus recruitment presents a unique opportunity that not everyone has the chance to experience. Rather than having to go out and pound the pavement, send endless emails, or have the voicemail messages you leave unreturned, getting a job through campus recruitment can have the recruiters coming to you. This opportunity however, is one that can be even more beneficial if you are properly prepared to take full advantage of it.

1. Study - Similar to a college exam, proper preparation can be key to your success in a campus recruitment interview. Understanding what a possible employer does, knowing the history and circumstances surrounding their company or organization, and having knowledge about the position for which you are applying can make a favorable impression upon those with whom you are interviewing.

2. Test Yourself - Before your all important interview, you might take some time to test yourself and your interview acumen. Consider questions that you might be asked by your interviewers. If you don’t have ideas as to what these questions might be, you might want to search for typical interview questions on the Internet. When you answer these questions, you might want to try answering them aloud to hear how your answers sound and practice proper phrasing and articulation.

3. Prepare Your Own Questions - Asking questions related to a particular job or company can show that you are interested and educated regarding the position for which you are interviewing and the company or organization you are interviewing with. Sitting there with a blank stare when asked if you have questions for the interviewer can be a sign that you are unprepared or uninterested.

4. Remember the Little Things - The little things can make a big difference in the overall impression you make upon your interviewers. Having items like a working pen, paper, extra resumes and cover letters, and similar items can prevent you having to ask to borrow them from the interviewer or worse, sitting their seemingly unprepared or uninterested, both of which are potential interview killers.

5. Dress Appropriately - In most instances, it’s best to wear professional business attire to an interview whether or not it’s required or requested. It’s often better safe than sorry and being a bit overdressed probably won’t hurt your chances as much as being underdressed will.

6. Eat Something - As nervous as you may be, putting something in your stomach before interview time can keep embarrassing belly rumbling to a minimum. Sitting there in the crushing silence before that first critical interview question is asked, only to hear the churning of your stomach echoing through the interview room might have your interviewers raising an eyebrow or two.

7. A Bottle of Water - You certainly don’t want to flaunt having a bottle of water, slurping from it noisily or taking constant drinks from it throughout your interview, but having it available can come in handy. Few things can be more distracting or a turnoff to interviewers than that smacking noise your mouth makes when you’re nervous and your mouth is really dry. Worse yet might be that white stuff that accumulates around the edges of your mouth when it is excessively dry. Such things can severely detract from the overall impression you present during your interview.

8. Timeliness - While it shouldn’t have to be said, timeliness is often critical when it comes to campus recruitment. This isn’t a party and it’s not the time to arrive fashionably late. But when it comes to timeliness during your interview session, it may pertain not only to arriving on time, but not overstaying your welcome as well.

9. Graciousness - It’s probably not the best idea to just get up and walk out after your interview is completed. It can be important to show the proper respect and give your appreciation for the opportunity to interview for the position, but not overdo it. Acting as if you’re the interviewer’s best friend or being overly friendly by giving hugs, high-fives or slaps on the back might raise some red flags for the interviewer.

10. Follow-up - Depending on how an interview ends, a follow-up could involve numerous scenarios. A telephone call, note, or email thanking the interviewer for the opportunity to meet with them is often appropriate. You might stop by to do a follow-up if the company is locally located and you’ve been invited to do so. And even if your interview ended badly or you don’t think you have a shot at the job, a follow-up or thank you is still appropriate because even though you don’t think so, you may still be in the running for the job and it could be worth a call or email to find out.

*About the author: Tom Becker is a writer for Money Choices where he writes impartial reviews of high interest savings accounts and other financial products.

*Image Credit: Photograph by bpsusf [via Flickr Creative Commons]

If you like this article, you may also like

• Evaluating and Negotiating Job Offers


• The Multiple Job Offers FAQ


• A Comprehensive List of Helpful Job Search Resources

Multiple Careers, Multiple Incomes? They're Closer than You Think

(This is a guest article by Andrew Johnston*)

In a time when joblessness is a global threat and the employment market is apparently comatose, there’s another option: Create your own job. Whatever you do, you can usually do it online in some form. If you’re an HR person, you can do online advisories and work on the big HR sites. If you’re a gardener, you can probably make more money doing gardening advice and articles than you could working in a garden. If you think you lack training or need more, you can always get it, online or at a community college. A great new career is as close as a computer with an Internet connection.

The New Economy, explained

The New Economy is an almost totally different economy to the traditional job market, which is rapidly becoming obsolete, as well as disappearing through its own inefficiency.

The new approach is almost revolutionary:

• High pay


• High value work


• Outsourcing to freelance experts


• Low business overheads


• Less business infrastructure

The "high pay" may be selective, but everything else is taking off in every industry. "Work" is now business between you and a client who’s no longer an employer but a contractor. This process has been welcomed by those trying to escape the grotesque workplace stress factories. The first people to take on the New Economy model, ironically, were all professionals like accountants, architects, business consultants and other people who stood to make a fortune simply by no longer working in an office.

Multiple jobs and multiple incomes

The New Economy also lets "workers" loose. All that’s required in these types of jobs is to do the work as per contract. The rest of your time is your own. You can run several contracts in the course of one day. You’re no longer dependent on the single stream income, and free from the constant stress of the workplace.

If you’ve got good client relationship skills, do good work and respect the interests of your contractors, you can wind up with more work than you’d believe. Imagine a job where you work 5 days a week, for 5 different contracts, and make the same money or more as you did in a day job.

Note that it’s a good idea to do any relevant business courses and learn the basics of running your own business. It’s also extremely useful when dealing with other businesses, because you can speak their language and understand their priorities more effectively.

Building multiple careers

The greatest thing about the New Economy is that you can literally develop your skills and business in so many directions. Unlike the single stream career types, you can actually build several careers, and integrate them.

For example:

Say you’re a web designer. You develop your skills base so you can also do mixed media, graphics, audio, animation, web content, and advertising. This is far easier than it sounds, and even the training is fun.

The result of all this self indulgence is that you now have a business capacity with six extra services. That means more business, both from your existing clients and new clients.

This is the biggest growth area in global employment. If you want a job, make a great one (or several) for yourself.

*About the author: Andrew Johnston is a freelance writer specialized in articles about Business Courses.

*Image Credit: Photograph by akeg [via Flickr Creative Commons]