I have been reading the DormRoomBiz.com blog written by Chris for quite some time now. He has great content and continually updates his site.
Recently he announced another website he is launching, Revoluminary.
Chris shares what his Inspiration was for the new site.
On a dollar per hour basis, tutoring is about as lucrative a job as any for most college students…
That’s exactly what my friend Pete and I were thinking about a year ago. Landing a tutoring gig involved persistent advertising on classifieds boards and guerilla-esque networking to find friend-of-a-friend students…
Fast-forward to today, and check out the solution we’ve come up with on www.Revoluminary.com. We created a site that allows students to essentially start their own tutoring businesses without leaving their dorm rooms. Here’s how it works.
If you are a college student wanting to make some extra money, or even a graduate who might be able to help out some who have not been so fortunate as to finish yet, read Chris’ article and checkout Revoluminary!
Update: Chris posted a comment saying he is not actually the one who launched Revoluminary. I appologize for any confusion, but please still check out this great new resource!
A friend of mine and I were discussing the building of my dream truck. A 1978 Chevrolet Silverado, 1/2 ton, short bed, fully restored and wildly customized.
He told me that was all well and good but it would cost me a fortune to have all the work done that I wanted. When I told him I expected the modifications to cost less than $10,000 when the actual truck only cost around $3,000 his jaw hit the floor and he asked why everyone didn’t do that, considering a brand new Chevrolet Silverado is tipping the scales at $35,000 bone stock?
I told him most people don’t have the expertise, time or care to fix up older vehicles.
Read on to learn how you can purchase an older vehicle, customize it to your heart’s content while saving thousands of dollars compared to purchasing a new vehicle. You could have a one-of-a-kind vehicle for half the cost of a brand new truck or car, which all look the same.
When starting with an older vehicle platform you drastically cut costs. To begin, the cost of the actual vehicle is much less expensive than anything new. Anyone could purchase an old pickup any day of the week for around $800 to $2,000 depending on what shape it’s in. This rule is broken when you start trying to buy anything made before 1960 and any highly coveted styles, like old Camaros or Mustangs. However, most people have less expensive tastes.
Start by knowing what you want. I’m looking for a Cherolet Silverado 1/2 ton made between 1973 and 1978 that has a short bed. Figure out your dream vehicle platform. If you desire a 1968 Camaro SS or a 1969 Dodge Charger General Lee, those are options, but just the naked body of one can cost several thousand dollars. Still, that is less expensive than a new Camaro or Charger.
After you have figured out what you want, start looking. Ebay Motors has a lot of listings. Your local paper is a good resource. You can also call used car dealers and request they keep an eye out for your dream car. MidMoBile.com is a great resource for mid-Missouri shoppers.
Haggle when you find what you want. You are probably now dealing with an individual or a small used car lot. You are not dealing with a big car dealership salesperson. These people have a lot more at stake and decision making power about the final cost of the vehicle you want. Do not take the first price.
When you purchase that brand new car off the lot, you pickup a $300+ payment each month. Just like every other kind of financing, you are not just paying off your new car or truck, you are also paying interest. On a $20,000 loan with 5.25% interest over 60 months you will pay an additional $2,800 in interest. On a $30,000 loan same interest, same term, you will pay an additional $4,207.
Do not get a loan to buy an old vehicle. Purchasing an older vehicle should cost no more than a few thousand dollars depending on the year, make and model you want. Save up and pay cash for a car or truck, pay no interest, and you can use that interest you would have been paying to customize your ride. More importantly, no matter what happens that vehicle is paid for. Get laid off? Have a huge medical bill come due? You will not lose your vehicle to creditors when you don’t owe anything on it. It is a great feeling to completely own something.
When you buy a new car or truck it’s great to show it off for a few months, but the newness wears off and the payments settle in for the long haul. When working on an older vehicle you are customizing, things are constantly changing and being updated. Every time you change or add something it is like a brand new toy. People will always want to know what you are doing with your car or truck, what is next, and what you have done so far.
You could get years of enjoyment and conversation out of this one project. Not to mention, when you finish you will have a completely customized vehicle that is completely yours. You will never see another one like it driving around to steal your thunder. No matter how “limited edition” a new vehicle claims to be, nothing can match your own customization, and there is at least one more, more likely ten thousand more, “limited editions” driving around. Not so with the custom vehicle you built.
When you buy a brand new vehicle you don’t have the option to get insurance. You are required to purchase a full coverage insurance policy, which will normally cost $100 to $200 per month depending on your driving record and history. With older vehicles you can get away with a liability only policy until you start putting some money into it, which take some time. A liability only policy for a single person might only be $30 to $50 a month. The extra money you save can go into customizing your car or truck.
You will not want liability only on your custom vehicle after putting some work, time and money into it. Tabulate what you have spent to build the vehicle to the point it is at, then take out a defined insurance policy for that amount. This should be far cheaper than any other policy you purchase. As you put more money into the vehicle, raise the payout amount.
Another option is historic vehicle insurance. This is dirt cheap because it is based on the idea that you do not drive the vehicle very often. But the insurance agencies normally do not check the miles you drive. If they ask you for odometer readings upon sign up, look for another carrier. The car or truck must also be a certain age. This changes depending on the insurance company.
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This turned out to be a lot longer article than I anticipated. If this is something that interests you please come back soon as I hope to begin telling you how to start that custom vehicle of your own!
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Always think about the total cost of ownership with any vehicle.
Dumb Little Man (dumblittleman.com) is anything but! It is also one of my favorite blogs. Recently he wrote about how to avoid the sleepless nights of running your own business. If you do run your own business you could be staying up all night working, or you could be losing sleep because of worry. Here are the five ways Dumb Little Man says you can avoid Entrepreneur Insomnia, with my take following his headings: As an entrepreneur and/or a home based business owner you have likely heard the rumor of people having business hours, but have never been afforded the luxury yourself. Set them now. Knowing you will only be working from 8 am to 5 pm, or whatever hours work for you, helps you stay focused, not put off work, and keep your day from spilling over into evenings and weekends. After you set those business hours, make sure you tell people what they are. Especially if you work from home (we’ve all see Ben Stiller in Duplex) people need to know when you are working so as not to disturb you. Also, your significant other will greatly appreciate knowing exactly when you are and are not working. My wife greatly appreciated me letting her know that I would not work past 5:00. You’ve set your hours. You’ve told everyone when you will be busy. Now you have to actually get something done. Make sure you have a short task list of what to accomplish today. Use a calendar (Google Calendar is great) to allot times to complete certain goals or projects. This has been a great way for me to track how I’m spending my day. Whatever works for you, do it, to make sure you’re not just staring at your desk or a blank computer screen. The studies exist. The data is out there. I’m not going to put it here. Vacations rejuvenate people, and sleep refreshes you. Employees and business owners who plan regular time off are more energized when returning to work and show far greater productivity than those who power through 365 days a year. As a business owner, if you burn out, so does your business. So plan a vacation, even if it’s just three days at a local park. Get away. Stop thinking about business. Love on your kids and spouse, or your pets. The come back and keep on trucking. The bed is for sleeping and only sleeping. No computers. No televisions. No cell phones (unless it’s your alarm clock). No technology of any kind. You will be amazed at how much better you sleep and how much your bed partner appreciates these rules. I would like to add this sixth tip of my own. This week my wife and I made the decission to disconnect our cable modem and television service. It is not easy for me to not have internet at the house, as high speed internet has been a constant part of my life for over a decade. The television I could care less about, but this is a huge time suck for many people. My wife constantly gets irritated when I sit with my laptop and work of an evening, violating Rule 1 above. Without the internet my work is crippled and will be focusing on my wife of an evening like I should be. Give any of these tips a shot and let me know how they work out for you.5 Steps to Stopping Entrepreneur Insomnia
Set your business hours
Let others know your hours
Prioritize your days
Plan time off
Use your bed for sleeping
Cancel Internet and Television Services
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