subject: Making Your Finances Bullet Proof [print this page] While most people do have some sort of financial hardship at some point in their life there is a way to make your finances as bullet proof as possible. Here are some tips which can help you make the right decision and come out ok financially no matter what life has to through at you.
1. Look For Side Income Sources
Looking for income sources that you can make on the side can be a terrific way to diversify and keep you safe if you need extra money on the spot or if you say lose your job. Whatever the problem is, it is always nice to be making a few hundred dollars a month (or more) on a side project like a business or an investment.
So, look into doing something like starting a business on the side or investing your money. You really never know what will happen until you try it out. You might find that you will not even need your day job anymore.
2. Invest Money
A second option would be to start investing your money or at least looking into different investment options. Investing into things like stocks and real estate can have amazing long term potentials and can really be a great way of achieving your goals. If you do invest and save up your money then what will happen is you will have more money on the side in case of an emergency. And if an emergency just never comes around then you will simply have more buying power.
3. Create a Corporation
It is a sad truth, but there are a lot of people out there who like to sue other people. In fact some people even want to make going after other people and taking all their money a profession. You don't want to be the person who gets sued just because a kid jumped over your backyard fence and got bit by your dog.
Bullet proofing your finances means making sure you are going to be able to come out of a lawsuit ok. One way that you can do this is to simply set up a corporation and put your business or investments into that. This way it is a seperate intity and people cannot take the money out of it by going after you.
It is a pain, but protecting yourself from bad people is just something that you'll have to do to be safe.
by: Shaun Rosenberg
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