We all know that a new year means new possibilities, and for most, that means trying to make more money. Unfortunately, most people are not willing to put in the work needed, and without changing the way we do things, we can’t expect to reach our goals.
In fact, Albert Einstein once said that the definition of insanity is doing the same thing over and over while expecting different results. So if you want to defy that and make 2020 the best financial year yet, we suggest you check out these three tried and tested tips.
- Start Investing and Trading
A big misconception in life is that you have to be rich to start investing. That’s just not true.
Learning how to properly invest money or even swing trading can be life-changing, even with limited funds. The key is to equip yourself with the basic knowledge needed to get started, and then continue building on that foundation as you trade.
Better yet, the internet has made it easier than ever to study the world of investments and trading and on sites like BullMarketz.com, all this information is provided for free. And remember that when you feel comfortable enough to get started, you really only need a little bit of money. Even if you have a lot of available funds to use, starting small is always recommended.
For example, many of the world-leading online forex and stockbrokers let you register an account for as little as a $50 deposit. Moreover, there are certain service and apps that can be used to place tiny amounts of money in “low-risk low-reward” securities. Some of these services are automatic and can invest your spare change for you without you lifting a finger. It’s definitely not a get rich quick solution but the key here is consistency.
Now, there are risks associated with both investments and trading and should never spend money that you can’t afford to lose.
- Sell Services and Products
Thanks to the rise of the internet, it’s never been easier to sell services and skills to others. Sites such as Upwork and Fiverr are platforms where anyone can offer their knowledge in exchange for money.
The best part is that you can literally sell anything, whether that be what you normally do at work to more specific skills such as playing and recording instruments, teaching yoga, writing, proofreading, coding, marketing and more. Only the sky’s the limit when selling services online.
Compared to the first tip in this article, freelancing and service exchanges doesn’t require any initial investments – all you need is a skill that someone would pay you for and a little bit of spare time. Spending an hour a day can be more than enough to get started.
Similarly, sites like Etsy and Craigslist can be used to sell physical products, either that you buy second hand and sell for a profit, or things you create on your own accord.
- Create Your Own Site and Become an Affiliate
The third method of making money online is perhaps the most time-consuming but also one that presents a real opportunity to make a lot of profit over time.
Today, anyone with at least limited understanding of technology and the internet can create a blog or a niche site. These sites can then be paired with affiliate programs such as Amazon Affiliates and Commission Junction to sell market and sell products from already established companies. With enough traffic and good partnerships, a well-produced site could, in time, be a great source of passive income.
Moreover, it’s rather easy to set up an online store – preferably using Shopify if you’re new to this – thus acting as the middleman between retailers and the end-consumer.
If your new year’s resolution involves making more money, then you should look into the opportunities presented online. As you can see, there is a plethora of ways that you can use to existing platforms to make extra money, without spending too much money or precious time.
And who knows, with a good enough product or service, your part-time gig could eventually lead to a full-time gig and a decent income. However, the best part with all this is that you can start today and fulfil your new year’s resolution before the end of the year.