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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.

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    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.

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          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.

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              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.

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                    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

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                          Last Updated on June 6, 2019

                          The Average Retirement Savings and How to Save Wisely

                          The Average Retirement Savings and How to Save Wisely

                          Are you on track for retirement?

                          If not, don’t worry, I’m not sure either. I save each month and hope for the best.

                          Fortunately, I’m at an age where most people don’t save so I’m ahead of the curve.

                          But, what if you aren’t in your 20s? What if you’re near retirement and are looking to gauge where you stand?

                          If so, keep reading. Here’s how to prepare for retirement and save wisely during the process.

                          What Does the Average American Have Saved for Retirement?

                          Saving for retirement is tricky.

                          Tell someone straight out of college to save $10k a year for retirement and it’ll be next to impossible.

                          Make the same request to someone decades older and they’d be more likely to be able to save this amount. But, a 20-year old college student can be “financially ahead” of someone saving more than them. Why?

                          Age matters in your financial journey. The younger you are, the more time you have to save and put compound interest to work. As you get older and have more saving power, you’d have less time to put compound interest to work.

                          Here are the average savings Americans hold by age bracket:

                          20’s – $16,000

                          During this stage, most people are paying loans and moving up the corporate ladder. Your best bet during this stage is to focus on eliminating debt and increasing your income. Don’t focus only on getting a high-paying job neither.

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                          Instead, focus on learning via Podcasts, reading books, and taking specialized courses. Doing this will make you more valuable and give you more career options.

                          30’s – $45,000

                          At this stage, you’ve hopefully escaped your entry-level salary and work at a career you enjoy. Your earning power has increased but you now have more obligations. For example, marriage, kids, and a mortgage.

                          Set a plan to pay off all your debt and focus on eliminating unnecessary expenses. Leverage financial tools like Personal Capital to ensure you’re on track for retirement.

                          40’s – $63,000

                          This is the stage where you’re at the prime of your career. Top financial institutions recommend you have at least 2 to 4 times your salary saved up. If you’re falling behind, start maxing out your 401K and Roth IRA accounts.

                          50’s – $115,000

                          During your fifties, you’re close to retirement but still, have time to save. You may be helping your kids pay college tuition and other expenses. Since you’re at the peak of your earning power, max out all your retirement accounts.

                          60’s – $172,000

                          By this point, you should have about eight times your salary saved up. If not, you’ll depend primarily on social security benefits averaging $1400 per month. Max out all your retirement options as much as possible before retiring.

                          Ways to Save Money on a Tight Budget

                          The sad reality is that most Americans aren’t saving enough for retirement.

                          Even high-earning power isn’t enough to secure one’s financial future. You need to have the discipline to save for retirement while time is in your favor. Don’t wait for you to have a high salary to save, start with having a small budget.

                          First, get a clear picture of where you stand. Write down a list of “needs” and “wants.” For example, Netflix and Amazon Prime are “wants” and a “cell-phone” is a need.

                          Use tools like Personal Capital to analyze your spending patterns. Personal Capital allows you to add all your financial data in one place–making it a powerful option to gauge where you stand.

                          Once you know all your expenses, organize them from highest to lowest expense. When you can’t cut more expenses, call your service providers to negotiate a lower price. If you’re not good at negotiating, use services like Trimm to lower your monthly expenses.

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                          How to Save Money Each Month

                          By this point, you know the average amount of money you should have saved for retirement based on your age.

                          But, breaking this down into monthly goals can be challenging. Here are some rule of thumbs to follow:

                          Aim to contribute 10%–15% of your salary each paycheck. Review your progress each week.

                          Why so often? The reality is that life gets in our way and you will have many financial setbacks. Your goal isn’t to be perfect but to get back on track instead.

                          Reviewing your finances weekly lets you know where you stand with your retirement. This doesn’t have to be a long process either. All it takes is login in Personal Capital to view your net worth and check how much you have saved for retirement.

                          Turn saving into a game and aim to save more each month. It will get challenging but you’ll get creative and find more ways to save.

                          Top Money Saving Challenge Tips

                          To prepare for your financial future and not be another statistic you need to be different.

                          How?

                          By adopting new habits that’ll help you become a saving machine. Here are some ways you can save more:

                          Automatically Contribute Towards Retirement

                          If you’re working for a company, you can automatically contribute towards your 401k. If you’re not currently contributing more than 10%, make this your goal. Contribute 1% more today and automatically increase this amount a year from now.

                          Odds are that you’re not going to be negatively affected by contributing 1% more. Many times we spend our money on things we don’t need. Contributing more towards retirement is a great way to secure your financial future.

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                          Use the Right Tools to Know Where You Stand

                          Once you’re contributing more towards your retirement accounts, gauge your progress. Make use of finance tracking apps to help you view the big picture of your retirement.

                          When I’d first signed up for the app Personal Capital, I didn’t know I had a negative net worth. Despite saving thousands of dollars, my debt brought my net worth to the negative. Knowing this motivated me to save more and spend less.

                          Now, I have a positive net worth. But, it was because I was able to view the big picture using the app. Find out what your net worth is using a finance tracking app and you may surprise yourself.

                          Bring in Experts to View Your Blind Spots

                          If you have too little or too much money saved, you should consider hiring financial experts.

                          Why?

                          You may need someone to hold you accountable to help you reach your financial goals. Or, you may need help managing your money as effective as possible.

                          Regardless of the reason, getting help may help improve your financial situation.

                          Before you hire an expert, find out which areas you need help the most. For example, if you’re constantly overspending, find a debt counselor. If you’re struggling with choosing the best investment options, hire a financial advisor.

                          Speed up Your Retirement Contribution

                          After learning how to manage your money well, the next best thing is to earn a higher income.

                          You’re capped at how much you can save but not much you can earn. Even if your employer isn’t giving you a promotion, you can still take charge of your financial future. How?

                          By starting a side-business.

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                          This will be something you’d work on after you’ve finished your day job. Once you start earning income from your side-business, you’ll be financially better off.

                          The best part is the more work you put into your side-business,[1] the more potential it has to earn more money.

                          So start a side-business in an area you’re familiar with. For example, if you enjoy writing, do freelance writing for small e-commerce businesses.

                          Once you’re earning a higher income, you can contribute more towards your retirement. Don’t wait for the right opportunity to secure your financial future, create one.

                          Reach Financial Freedom with Confidence

                          What if you were able to retire tomorrow with no problem, all because you’d have enough money saved up and little to no debt left to pay off? How would you feel?

                          My guess is that you’d feel happy and relieved.

                          Most Americans are falling behind their retirement goals for many reasons. They’re not prepared, they carry bad money-habits and are thinking short-term.

                          For you to retire successfully, you need to work backward and adopt better habits. Contribute more towards your 401K and focus on growing your income.

                          If you do, you’ll save money and pay debt faster.

                          Don’t beat yourself up if you’re behind your retirement goals. Take the first step today towards a brighter financial future. Isn’t retirement worth the hard work and sacrifice to be at peace?

                          Featured photo credit: Huy Phan via unsplash.com

                          Reference

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