Advertising
Advertising

12 Ways to Earn Money Without Being Employed

12 Ways to Earn Money Without Being Employed

Unemployed individuals don’t need to despair anymore—there are tons of online opportunities for gaining money. What’s more, the joy of earning money without being employed is much more pleasurable than you could imagine. You have plenty of options to choose from without even focusing on a particular niche and with very little hard work.

Being unemployed also gives you much freedom for personal development and investing in your personal growth. You can improve your personal skills daily and become better and better with each masterpiece created. You can reap all these benefits from unemployed status by following one of the proposed strategies and gain a fair monthly income.

1. Sell or rent your personal belongings.
For Rent Real Estate Sign in Front of House

    If you don’t have a job, and need money—who doesn’t?—the first thing you can do is inspect your house. Which objects don’t you need anymore?

    We all have old clothes that we haven’t worn for years, books we never opened or already read, pieces of furniture that have been unused for decades, and so on. Not to mention, everybody owns new pairs of shoes, kept for special occasions (this may be the right time to put them to a good use), accessories, car items and more.

    Fortunately, second-hand sales are trendy now. These kinds of objects are not called “used items,” but rather, “unique items.” So gather all the things you can give up and organize a sale. There are many possibilities: yard or garage sales; online sales using special dedicated websites (eBay, Amazon, Gumtree) or sales through putting up ads on social networking websites (Facebook, Pinterest). If you are lucky enough to own a holiday house, a caravan, or even a boat, start renting them out.

    There are always people willing to pay for some days of relaxation or adventure. If you plan on going on holiday, take advantage of this and rent out your own room or house. People can do this on Airbnb. If you want to go even further, try this: rent out your parking space while you are away. This method can bring in lots of cash if you live in a central or busy area of the city.

    2. Take care of pets.

    Advertising

    dog walking

      Do you just love animals? Don’t have money to buy one or to raise it? You can actually spend time with your favorite kind of animal while receiving cash through pet sitting and dog walking. Many people have multiple pets but are too busy to give them the care and attention that they need. During the holidays, many owners travel to visit their families, and will need someone to look after their furbabies while away.

      Find these kinds of jobs by handing out flyers and by adding posters to the local community board. You can also find pet-sitting websites, like Pawshake, Sittercity, Care.com. These sites serve as a platform that connects pet sitters with needy owners.

      3. Use your creative skills.

      photographing

        Almost everyone has a weird hobby or a skill they acquired for fun. Maybe you like to knit, make homemade cosmetics, and or create jewelry. Whatever your talent may be, you can make money from it on websites like Etsy. Pinterest is also a good place to display and sell self-made things.

        If photography is your hobby, try licensing the images on Getty through Flickr. There are tons of websites and businesses that are willing to pay you for your stock photos.

        4. Work online for busy persons.

        work online

          There are dozens of busy individuals who need assistance in researching for materials. Machines cannot always do this, so they must hire someone. If you want to be that person, then create an account on Amazon or Shorttask and start looking for jobs.

          Advertising

          5. Complete online surveys.

          online survey

            Earn some pocket money by filling out surveys. Of course, you will not get rich just by answering questions; however, you can get paid small sums of cash for this task. Compensation varies by website, so check the terms and conditions thoroughly. Also, be on the lookout for scam platforms that pay nothing in the end.

            A good place to start is Mysurvey.net. Here, participants earn points that can be transformed in gift cards for websites like JB Hi-Fi, Myer and Woolworths. Other platforms just pay users in cash.

            6. Be a universal repairing man.

            repairing

              Every city has citizens who need help with keeping their houses clean and functioning. Some of them don’t have time, while others are not good at fixing things.

              If physical labor is something you don’t mind, go out there and get paid for it. Be it cleaning, painting, mowing, and so on—these kinds of activities can bring in honestly-earned money. AirTasker is a great place to find such tasks.

              7. Become a freelance writer.

              Advertising

              freelance writer

                Now, if you are a bit of a brainiac and have solid writing skills, you can join platforms like Upwork, Freelancer, Fiverr, iWriter and so on. These place are visited by thousands of writers worldwide.

                And here is the reason why—writers can choose the projects they love the most, work on appealing texts, and get a fair amount of money, all while working at your own pace. However, you must keep in mind that every task has a deadline that must be respected, so you’ll need to practice self-discipline to make sure you get everything turned in on time.

                8. Become a ghost shopper.

                ghost shopping

                  Do you like inspecting, evaluating and criticizing? Usually, people hate this kind of attitude, but others pay for it. Mystery shoppers are in high demand these days.

                  They go to restaurants, shops, hotels and other places, and pretend they are just a regular customer. Then, based on their personal shopping experienced, they fill in some reports, which are then used to grade employees. You can apply at MysteryShopping.com if this sounds appealing to you.

                  9. Cook for others.

                  cook

                    Cooking is not for everybody. Not to mention, there are millions of people out there who don’t have the necessary time and energy for this activity. So if you have impressive cooking skills, take advantage of this gift. Here are some ideas of earning money from cooking: organize a dinner at your house and ask people to buy tickets to attend to it.

                    Advertising

                    This is in high fashion in Australia, and websites like Eatwith have become famous. You could also hold cooking lessons at your house. Try posting ads saying that you are willing to cook for busy individuals in exchange of a fair payment.

                    10. Try tutoring.

                    tutoring

                      Tutoring is the number one activity for making instant money. Students are looking for all sorts of lessons—foreign languages, math, science, chemistry, etc. Foreign languages are in great demand, but other complex subjects are paid better.

                      11. Participate in medical research and clinical trials.

                      medical research

                        This is definitely not a good idea for everybody. However, there are enough individuals willing to offer themselves to science for some bucks.

                        Before deciding to take part in a trial, carefully read the risks the participants are exposed too. Take them seriously—health is not something to treat lightly.

                        12. Participate in focus groups organized by big companies.

                        focus groups

                          Opinionated people are welcomed in focus groups. Focus groups are led by marketing companies that want to find out more about people’s ways of thinking when it comes to buying something. The experience is actually often enjoyable and you can even get paid up to $100 or so.

                          Featured photo credit: Poor Frog & Macrography by Hamed Saber via Flickr via flickr.com

                          More by this author

                          hackNY spring 2013 student hackathon 15 Powerful Online Apps to Change the Way You Approach Student Life 12 Ways to Earn Money Without Being Employed books lying on the table night view 10 Books Which Can Effectively Increase Our Emotional Quotient

                          Trending in Money

                          1 How to Set Financial Goals and Actually Meet Them 2 25 Killer Sites For Free Online Education 3 How to Develop a Millionaire Mindset in 6 Simple Steps 4 5 Books You Must Read if You Want to Be a Millionaire in Your 20’s 5 20 Better Money Habits to Help You Increase Your Savings

                          Read Next

                          Advertising
                          Advertising
                          Advertising

                          Last Updated on August 20, 2019

                          How to Set Financial Goals and Actually Meet Them

                          How to Set Financial Goals and Actually Meet Them

                          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. And 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 on how to set financial goals and then actually meet them with ease.

                          5 Steps to Set Financial Goals

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

                          1. Be Clear About the Objectives

                          Any goal (let alone financial) 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 is for. It could be anything like kid’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, however small they may be, that you foresee in the future and put a value to it.

                          2. Keep Them 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 out of the line will definitely hurt your chances of achieving them.

                          It’s important that you keep your goals realistic in nature for 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”. And this quote sums up the best what inflation could do your financial goals.

                          Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.

                          For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.

                          4. Short Term vs Long Term

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

                          As a rule of thumb, any financial goal, which is due in next 3 years should be termed as 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.

                          More on this later when we talk about how to achieve financial goals.

                          Advertising

                          5. To Each to His Own

                          The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.

                          It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.

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

                          11 Ways to Achieve Your Financial Goals

                          Whenever we talk about chasing any financial goal, it is usually a 2 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. So let’s get down to ensuring healthy savings.

                          Ensuring Healthy Savings

                          Self realization is the best form of realisation 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 monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.

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

                          2. Pay Yourself First

                          Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!

                          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 then manage all the expenses from the rest.

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

                          Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.

                          3. Make a Plan and Vow to Stick with It

                          Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.

                          Advertising

                          Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.

                          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. Rise Again Even If You Fall

                          Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.

                          If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.

                          Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.

                          All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.

                          5. 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 counter intuitive to many but there are some deft ways of doing it. For example:

                          Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.

                          If you are travelling buff, try to travel during off season. Your outlay will be much less.

                          If you go out for shopping, always look out for coupons and see where can you get the best deal.

                          So 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.

                          Advertising

                          6. 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. And it would be rather easy to lose the grip over your discipline.

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

                          7. Maintain a Journal

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

                          So 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.

                          Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.

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

                          At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.

                          Making Smart Investments

                          Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.

                          8. Consult a Financial Advisor

                          Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is 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.

                          9. Choose Your Investment Instrument Wisely

                          Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.

                          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.

                          Do you remember we talked about bifurcating financial goals in short term and long term?

                          It is here where that classification will help.

                          Advertising

                          So 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 as compared to equity instruments.

                          10. 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.

                          So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.

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

                          11. 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; taking stock of how our investments are doing.

                          If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.

                          If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.

                          Do 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

                          This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.

                          As you can see, all it requires is discipline. But guess that’s the most difficult part!

                          More About Personal Finance Management

                          Featured photo credit: rawpixel via unsplash.com

                          Read Next