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5 Fun Ways to Make Money Online That You Should Try

5 Fun Ways to Make Money Online That You Should Try

The internet is so imperative these days that it turns into a piece of your daily schedule. You can read the daily paper, check your email, update your Facebook status, shop online, Skype with companions, and learn from Google. Today, you can do practically anything through the internet. Did you know you can earn money online too? This is an extraordinary open door for anyone, whether you want to earn a little extra pocket change or want to turn it into a full-time career from home.

There are plenty of legitimate and fun ways to make money online. Some of them include beginning your own small business, while others include working for someone else using your home as an office. Here are five real ways to work from home and make extra cash through the internet.

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1. Freelance writing

You can become a freelance writer, and can get writing assignments that very same day. The better your writing skills are, the better your freelance writing project rates will be.

A freelance writer can choose the niche market. You can start writing for magazines, online blogs or newspapers. You can even blog by building your own site, or by writing for other websites. The market for freelance writing on the internet is massive, and there’s plenty of work to go around.

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If you are interested in freelance writing, consider these factors before you get started:

  • Samples. You need to build your own profile before you can really begin marketing yourself. Choose the market you want to approach in writing, and then find or create some related writing samples. For instance, write a few posts of your own to use as samples.
  • Tools. As a home-based freelance writer, you need a computer and fast internet access. Some clients might want to reach you by email or Skype, so have both set up and accessible.
  • Job Boards. You have to look for work, and places like Freelancer, GuruUpwork, and oDesk are a freelancer’s best friends. These platforms allow individuals and businesses to post assignments or projects, and freelancers can bid on them.

2. Using your skills

Everyone has skills in different things! Perhaps you can teach the principles of a foreign language with ease, or are a master mechanic. Perhaps you are just a sports-obsessed fan who is really into fantasy sports. Regardless of skill, the internet is so far reaching that any and all skills are welcome and can be used to make a profit.

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  • Teaching Classes. There are many online platforms that allow people to teach or learn online. With your expertise, you could wind up teaching classes online. Say you are fluent in English, French, and Spanish. Creating your own language class online can help you master the language through teaching, help interested people learn, and create an online side job for yourself at the same time!
  • Develop apps. Today, organizations and associations create applications for their business advancement. Numerous organizations, particularly gaming software companies, hold bimonthly competitions in which individuals can not only win a monetary prize, but can also be part of the product group. You can even take app development projects from freelance job boards if you are a masterful developer without a good idea.
  • Competing at online games. If you’re interested in any type of sport then you’re probably familiar with fantasy sports. Numerous websites offer the chance to build your own sports team for massive cash prizes. Fantasy sports have taken off into a billion dollar industry so get your cut! By finding and using deals and coupons, like a draftKings promo code, will allow you to get incentives when signing up to help you get ahead of the competition.

3. Sell your creativity

If you are an artist or have a talent for creating beautiful things, then you can make some serious income from home. There is a growing trend of selling antique and homemade products online. Etsy,for instance, is a platform for artists where they can sell items at a fair price. The site claims over 40 different categories, from clothes to gifts to edibles, with thousands of listings.

Here are some recommendations to getting started:

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  • Investigate. Do your research and investigate other sellers on Etsy and see what they’re offering, and then decide how you can do it differently.
  • Show Commitment. Blog about your site, spend time trying to think of new ways to promote your business. To be a successful seller, you have to treat it like a full-time job.
  • Give Evidence. To gain the trust of your customers, give them visual evidence for the products through photographs. These pictures have to be good and make the item look fantastic.
  • Options. One of the keys to success on Etsy is giving options and vast selection. Most serious shop owners on Etsy have at least 200 items for sale. The more options your customers have, the higher the chances that you’ll make a sale.

4. Call centers: Sell your time and voice

If you have command over foreign languages with a great telephone voice, and the ability to organize information quickly, you can make money working for a call center. These call centers provide services to businesses that outsource services to answer their phones 24 hours a day. These calls are directed to a call center where they are routed to individuals who work from their homes. The average compensation for these call center jobs is about $9 per hour, and some companies even offer health benefits. Here are a few tools you should have to be successful:

  • Persistence. In the call center industry, the line between scams and honest businesses is very thin, so you should do your homework before accepting a position. Alpine Access is one of the well-known companies in this field, and Call Center Careers is a great place to search for legitimate call centers jobs.
  • Call Center Tools. You have to own equipment before starting work with as a call center agent. You will need a computer, earphones, a fast internet connection, and a landline telephone to apply.
  • Multi-tasking. In this industry, call center agents receive a lot of calls, and one must have the capability to handle them all efficiently.

5. Sell your knowledge: Use social media

There are lots of consultants available online who offer their services or advice for a fee. For instance, if you’re a publicist like me you may help a new organization develop a communication plan, or you may help them get media attention by writing articles or press releases and then distributing them to the proper media channels. If you have great computer skills or are a social media expert, you might be able to work from home by opening up your own website or creating your social media pages to make money from some of these avenues:

  • AdSense. This is a Google product that puts advertisements on your website. It further gives the alternative of pay-per-click or pays each time somebody sees the promotion. This is a great way to generate cash for FREE!
  • Youtube video/Facebook feature. If you have a bubbly and fun identity, then kick back and feature the craziest minutes of your life and transfer them on YouTube or Facebook account. The higher the quantity of followers you have, the more the possibility you have to gain income in the contending business sector.
  • Blogging. Fashion web journals are everywhere throughout the internet, and fashionistas have transformed their websites into a full-time work. This is only one example of how you can turn your hobby or passion into a blogging career. The more quality content you have, the more organizations will reach out to place their advertisements on your site.

Featured photo credit: Internet/Ministerio TIC Colombia via flickr.com

More by this author

Tayyab Babar

Tayyab is a PR/Marketing consultant. He writes about work, productivity and tech tips at Lifehack.

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Last Updated on September 2, 2020

How to Set Financial Goals and Actually Meet Them

How to Set Financial Goals and Actually Meet Them

Personal finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. That’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

In this article, we will explore ways to set financial goals and actually meet them with ease.

4 Steps to Setting Financial Goals

Though setting financial goals might seem to be a daunting task, if one has the will and clarity of thought, it is rather easy. Try using these steps to get you started.

1. Be Clear About the Objectives

Any goal without a clear objective is nothing more than a pipe dream, and this couldn’t be more true for financial matters.

It is often said that savings is nothing but deferred consumption. Therefore, if you are saving today, then you should be crystal clear about what it’s for. It could be anything, including your child’s education, retirement, marriage, that dream vacation, fancy car, etc.

Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives that you foresee in the future and put a value to each.

2. Keep Goals Realistic

It’s good to be an optimistic person but being a Pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going beyond what you can realistically achieve will definitely hurt your chances of making meaningful progress.

It’s important that you keep your goals realistic, as it will help you stay the course and keep you motivated throughout the journey.

3. Account for Inflation

Ronald Reagan once said: “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman.” This quote sums up what inflation could do your financial goals.

Therefore, account for inflation[1] whenever you are putting a monetary value to a financial objective that is far into the future.

For example, if one of your financial goal is your son’s college education, which is 15 years from now, then inflation would increase the monetary burden by more than 50% if inflation is a mere 3%. Always account for this to avoid falling short of your goals.

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4. Short Term Vs Long Term

Just like every calorie is not the same, the approach to achieving every financial goal will not be the same. It’s important to bifurcate goals into short-term and long-term.

As a rule of thumb, any financial goal that is due in next 3 years should be termed as a short-term goal. Any longer duration goals are to be classified as long-term goals. This bifurcation of goals into short-term vs long-term will help in choosing the right investment instrument to achieve them.

By now, you should be ready with your list of financial goals. Now, it’s time to go all out and achieve them.

How to Achieve Your Financial Goals

Whenever we talk about chasing any financial goal, it is usually a two-step process:

  • Ensuring healthy savings
  • Making smart investments

You will need to save enough and invest those savings wisely so that they grow over a period of time to help you achieve goals.

Ensuring Healthy Savings

Self-realization is the best form of realization, and unless you decide what your current financial position is, you aren’t heading anywhere.

This is the focal point from where you start your journey of achieving financial goals.

1. Track Expenses

The first and the foremost thing to be done is to track your spending. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you will be surprised by how small expenses add up to a sizable amount.

Also categorize those expenses into different buckets so that you know which bucket is eating most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pumping up your savings rate.

If you’re not sure where to start when tracking expenses, this article may be able to help.

2. Pay Yourself First

Generally, savings come after all the expenses have been taken care of. This is a classic mistake when setting financial goals. We pay ourselves last!

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Ideally, this should be planned upside down. We should be paying ourselves first and then to the world, i.e. we should be taking out the planned saving amount first and manage all the expenses from the rest.

The best way to actually implement this is to put the savings on automatic mode, i.e. money flowing automatically into different financial instruments (mutual funds, retirement accounts, etc) every month.

Taking the automatic route will help release some control and compel us to manage what’s left, increasing the savings rate.

3. Make a Plan and Vow to Stick With It

Learning to create a budget is the best way to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be organized

Nowadays, several money management apps can help you do this automatically.

At first, you may not be able to stick to your plans completely, but don’t let that become a reason why you stop budgeting entirely.

Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options, and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

4. Make Savings a Habit and Not a Goal

In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that, in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

Make savings a habit rather than a goal. While it might seem to be counterintuitive to many, there are some deft ways of doing it. For example:

  • Always eat out (if at all) during weekdays rather than weekends. Weekends are more expensive.
  • If you are a travel buff, try to travel during off-season. You’ll spend significantly less.
  • If you go shopping, always look out for coupons and see where can you get the best deal.

The key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice, which will be harder to sustain over a period of time.

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5. Talk About It

Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission.

Therefore, in order to stay the course, surround yourself with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

6. Maintain a Journal

For some people, writing helps a great deal in making sure that they achieve what they plan.

If you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

When you have a written commitment on paper, you are going to feel more energized to follow the plan and stick to it. Moreover, it is going to be a lot easier for you to track your progress.

Making Smart Investments

Savings by themselves don’t take anyone too far. However, savings, when invested wisely, can do wonders.

1. Consult a Financial Advisor

Investment doesn’t come naturally to most of us, so it’s wise to consult a financial advisor.

Talk to him/her about your financial goals and savings, and then seek advice for the best investment instruments to achieve your goals.

2. Choose Your Investment Instrument Wisely

Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about the common ones, like a savings account, Roth IRA, and others.

Just like “no one is born a criminal,” no investment instrument is bad or good. It is the application of that instrument that makes all the difference[2].

As a general rule, for all your short-term financial goals, choose an investment instrument that has debt nature, for example fixed deposits, debt mutual funds, etc. The reason for going for debt instruments is that chances of capital loss is less compared to equity instruments.

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3. Compounding Is the Eighth Wonder

Einstein once remarked about compounding:

“Compound interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.”

Use compound interest when setting financial goals

    Make friends with this wonder kid. The sooner you become friends with it, the quicker you will reach closer to your financial goals.

    Start saving early so that time is on your side to help you bear the fruits of compounding.

    4. Measure, Measure, Measure

    All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments and taking stock of how our investments are doing.

    If we don’t measure progress at the right times, we are shooting in the dark. We won’t know if our saving rate is appropriate or not, whether the financial advisor is doing a decent job, or whether we are moving closer to our target.

    Measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

    The Bottom Line

    Managing your extra money to achieve your short and long-term financial goals

    and live a debt-free life is doable for anyone who is willing to put in the time and effort. Use the tips above to get you started on your path to setting financial goals.

    More Tips on Financial Goals

    Featured photo credit: Micheile Henderson via unsplash.com

    Reference

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