Boosting income

Discussion in 'Loans & Mortgage Brokers' started by Noobert, 8th Feb, 2016.

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  1. bob shovel

    bob shovel Well-Known Member

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    I'd think no , but the "bang for buck" makes it a lot more attractive. $22/hr delivering pizzas vs $32/hr (?) in the health field is worth getting the piece of paper
     
  2. TaylorChang

    TaylorChang Well-Known Member

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    Good point Ryan.

    Personally, I think who you know and who willing to help you along the way are much more important in earning and creating wealth.
     
  3. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    I suppose it depends on a few things :
    • How much time and money it costs to acquire the qualification; and
    • Therefore how long you'd have to work in your second job to break even; and
    • How much extra money and/or for how long you felt you needed to stick at the second job to achieve getting the property or properties you were after.

    It might turn out that rather than spending say 18mths becoming a nurse and paying for the course, then working for years, it might have been financially more efficient delivering pizzas where money is earned immediately.
     
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  4. Steven Ryan

    Steven Ryan Well-Known Member

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    No argument. Working a job at a higher hourly rate is an improvement :)

    The question is:

    Is the time invested in study, then the time spent working at $32/hour better spent than say, investing time in building something that may produce you $100/hour? Or better yet, passive income.
     
  5. albanga

    albanga Well-Known Member

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    Never actully thought about this but do lenders actually assess what a business is or only the financials matter?

    Say you have identical profits for 2 businesses.

    Business A - Bobs Gardening, works hard everyday with a known client base.

    Business B - A webpage that sells an ebook on how to maintain gardens.
     
  6. Tony Fleming

    Tony Fleming Well-Known Member

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    You leave us pizza delivery drivers alone :)
     
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  7. bob shovel

    bob shovel Well-Known Member

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    I hung up my helmet a couple of years ago! It's the best job and would go back!
     
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  8. Sackie

    Sackie Well-Known Member

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    Personally, I actually think its not that easy to set up alternative income streams through other businesses. I know there will be examples of "John started this business and it was a massive success in no time etc". I just dont think its that simple. I'm not shooting down starting businesses in any way though. Business is fantastic.
     
  9. Anthony416

    Anthony416 Well-Known Member

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    That piece of paper is getting easier and quicker to get. From this year in NSW you can start a Cert IV in aged care support without any pre-requisites (such as the Cert III). One semester (6 months), 2 days a week. These changes I guess are due to the shortage in the industry so the government wants people trained up quickly. My wife started this last week and she is already in the industry after obtaining her Cert III in Aged Care (she will get recognition for prior learning which will reduce the classes she has to take and also reduce the fees).

    Compared to years ago this seems the best way to get into a reasonably (relatively) well paying job quickly.
     
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  10. bob shovel

    bob shovel Well-Known Member

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    True. There's some thinking to be done. I'm seriously considering leo's suggestion as I know first hand the flexibility and great rates, but also those tickets you can use for life.

    In the short/med term it will help contribute to your servicing power which will help produce the larger passive income
     
  11. bob shovel

    bob shovel Well-Known Member

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    On call Drs! :p

    My mate moved to the sunny Coast and is doing agency nursing, 2-3 shifts = mon-fri work in Syd hospital
     
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  12. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    @Leo2413 what sort of roles are the people in that you referred to that have large chunks of time on shift to enable them to do property research?
     
  13. JacM

    JacM VIC Buyer's Agent - Melbourne, Geelong, Ballarat Business Member

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    Interesting. Depressing that we are so heavily legislated we're drowning ourselves, but interesting nonetheless. Thanks @Leo2413 .
     
  14. Sackie

    Sackie Well-Known Member

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    I completely agree. If I was the health minister... I would cut out so much crap, it would save hundreds of millions. Probably would never be allowed to do it though. Thats the joke. It is depressing.
     
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  15. melbournian

    melbournian Well-Known Member

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    hey @Leo2413 are you originally from hong kong (with that bruce lee pic)?
     
  16. lost nomad

    lost nomad Well-Known Member

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    [QUOTE
    That piece of paper is getting easier and quicker to get. From this year in NSW you can start a Cert IV in aged care support without any pre-requisites (such as the Cert III). One semester (6 months), 2 days a week. These changes I guess are due to the shortage in the industry so the government wants people trained up quickly. My wife started this last week and she is already in the industry after obtaining her Cert III in Aged Care (she will get recognition for prior learning which will reduce the classes she has to take and also reduce the fees).

    Compared to years ago this seems the best way to get into a reasonably (relatively) well paying job quickly.
    ][/QUOTE]

    I logged on to the TAFE site a few weeks ago and was shocked at the cost of courses these days! Playing around with their course fee calculator, it seems if you have studied before, there are no discounts available and the full fee must be paid.
     
  17. Sackie

    Sackie Well-Known Member

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    haha... no mate.. I lived in Taiwan for many years, hence the Asian background.
     
    Last edited: 9th Feb, 2016
  18. 380

    380 Well-Known Member

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    @Noobert

    if possible, Make your passion your profession. easiest way to boost your income.
     
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  19. Tim & Chrissy

    Tim & Chrissy Well-Known Member

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    I worked a second job loading trucks in a factory on night shift.

    Did it for about 4 months, paid a decent chunk off the mortgage. The kids started to act out and misbehave, pile their stuffed toys in front of the door so I couldn't leave.

    It definately wasn't worth it and thats why I gave it away so quickly.

    If you're young and single - go for it! Just don't lose sight of the big picture and your end goal so it's not a never ending quest.
     
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  20. albanga

    albanga Well-Known Member

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    Agreed! I am still looking into how drinking beer and playing fifa will get me some cashflow though.