With the economy going as it is, it can often be tough to get by with only one salary.
Many people are resorting to taking on second and even third jobs. As a result, people are working themselves into early graves, spending every day working from sunrise to sunset, never quite experiencing life and all it has to offer.
This is an unfortunate but true fact. People are working so hard that families no longer see each other and people get to know their colleagues better than they do their own spouses. This leads to many life and marital problems that eventually ruin people’s lives.
If you feel like you are wasting your life by spending all your waking hours working your fingers to the bone just so you can put food on the table and keep up with the ever-rising inflation, then perhaps it is time that you find a better way of making money. A way that you can earn an income while having time to enjoy life and spend time with the people you love. If you are able to relate to this feeling, then it is time for you to learn how countless people all over the world are making money in their sleep.
Table of Contents
1. Start a Blog
Blogging has become increasingly popular in recent years.
There are bloggers who earn ridiculous amounts of money simply by hosting their own blogs. For instance, Michael Arrington, a very famous technology blogger, earns between $500,000 and $800,000 every month. Arrington is the highest paid blogger in the world, but there are many other bloggers who manage to live a luxurious lifestyle, simply by blogging.
You can cover a range of topics on your blog, but generally, it is better to choose a niche and stick with it, such as fashion, technology, lifestyle, etc. If you blog about everything from tech to dating advice, you will probably be less successful since the audiences rarely cross over. It is advised to stick to something you are familiar with, meaning if you are a technophobe fashionista, then stick to blogging about this year’s autumn trends rather than the latest iPhone.
The way people earn money through their own blogs is by selling advertising, sponsorships and earning commissions as an affiliate. So if you are a good writer then maybe it is time to consider starting a blog. Who knows, if you are good then you might end up being the next Michael Arrington.
2. Sell Stuff
Many people have made money online by cleaning out their houses and selling all their unwanted possessions.
It is basically like a garage sale that takes place online. You can do this easily on sites like Gumtree, or eBay by simply uploading a picture, writing a short description and uploading it.
After all, one man’s trash is another man’s treasure.
If you do not have any unwanted possessions that you would like to sell, then you can always try drop shopping. Drop shopping is the act of selling products for another company and they will take care of the shipping and other related costs and services. A great way to do this is by launching your own eCommerce store and uploading the for sale items online.
3. Invest
Investing in the right stocks at the right time is one of the greatest things you can do.
According to data, if you had invested $100 in Apple back in 2002, it would have been worth approximately $5,500 now.
Imagine if you had invested $1000, or even $100,000…
While investing in stocks and buying shares can be a slippery slope, there have been many times where somebody picked up on a new company that they thought were going places so they invested and it ended up paying off big time.
You can do some research on investing money or you can have a chat with an investment banker in order to get an idea of how investments work and what to invest in. Thanks to the internet and the fact that everything is online these days, you can easily invest in a company online.
Investing is one of the money making strategies that requires the least effort, all you have to do is check your stocks every now and then in order to know where you stand.
4. Peer-To-Peer Lending
If you have never heard of Peer-to-Peer lending then you might find it quite interesting.
With this strategy, you have the ability to become a lender and earn high interest on your loans.
There are many loan companies that you can visit in order to become a lender. They will then set you up with a borrower to whom you will lend a certain amount of money. The borrower will most likely have bad credit and could not secure a loan at a bank, leading them to resort to Peer-to-Peer lending.
The borrower will then repay the loan at a significantly high interest rate – far higher than that of banks.
You will thus earn interest on your money, just like a bank does.
This is a great way to increase your savings and you do not have to do a thing.