Saving money is difficult in today’s world, and making extra money outside of your 9-to-5 is also too much of a hassle to worry about.
The above statement is one that definitely reflected my own attitude towards money for a long time, and I’m sure it’s one that rings true for many others out there as well.
There is no denying that it is hard to save money, and most of us just don’t have any energy left at the end of the week to be thinking about getting a second job. However, our financial future is not something we can afford to ignore.
What I’ve come to realize is that saving, and financial planning, does not necessarily mean relying on traditional, low-interest savings accounts, stocks, shares, or getting onto the property ladder. All of these things might come later once you achieve more breathing space, but there are some alternatives and possibly fun ways to go about making small amounts of money.
1. Collectibles (Sports Memorabilia/Comic Books…)
The lovely thing about making money from collectibles is that you will most likely be turning an existing hobby into a money making scheme. Okay, this is a long-term way to make money as the prices of things in this market only tend to rise in value over time (they become more unique). However in the short-term, it’s a great way to geek-out and have some fun. You never know if your chosen collectible is one that hits the cultural zeitgeist further down the road, it might just end up paying for your retirement.
2. Let An App Do It For You
Investing is the big boys’ way to make money. This is true, but you don’t have to be the Wolf of Wall Street to make money this way anymore, thanks to the many user-friendly routes that are now out there. It does take a lot of time and hard work to master the markets, not to mention a sizeable starting kitty, but, as with all things in modern-life, there are now plenty of apps ready to do it for you.
From apps that connect to your bank account and round up all of your card payments and invest the total for you, to stock market simulators that let you learn without risking a penny, it’s never been easier for the little man or woman to dip their toes into the world of high finance all through the comfort of your own phone.
3. Peer-to-Peer Lending
When you sign up for a peer-to-peer lending scheme, or lending club, you get the chance to become the bank. With starting investments as low as $25, however, there is zero obligation for you to invest anymore than you can afford. The beauty in this method of making money is that you are always in control, and you get to take pride in knowing that you are helping your peers’ businesses get up and running.
There are obvious risks attached to this kind of scheme, but it’s definitely a light way of learning how finance works while making money at the same time. This is not to mention that it’s an interesting, potentially quite inspiring, and profitable method as well.
4. Start Ups
Just think of all of those companies that didn’t even exist 5 or 10 years ago which are worth billions today. Uber, Instagram, and Snapchat, are just a few of the examples that come to mind quickest. Now, think about how simple their basic concepts are. The concepts might be simple, but the people behind them all had big ideas. Big ideas that didn’t necessarily have a lot of backing from the outset.
Today there are so many crowd-funding platforms out there, that it’s not impossible for you to catch that next gravy-train all the way up to a Facebook buy-out. Okay, that is pretty unlikely, but it isn’t impossible. Simply engaging with people with bright ideas who are working in fields that interest you, is a really inspiring way to go about developing yourself.
The start-up you choose to help out might not make money, but just seeing what other people are trying to achieve could very well give you the little push to go out and make sure that the next basic concept to become a billion dollar business is your own.
This might be a bit of a cheat addition to this list, but it is essential for you to remember that there is only one person in ultimate control of your own financial destiny. Little sacrifices may have to be made here and there, but boosting your education is probably the most surefire way to a brighter economic future.
Whether this comes in the form of a night-course where you learn how to code in order to make a complete career change, or studying Spanish on the weekends to impress your boss. An investment in yourself is always the one that runs the least risk, and also offers the highest rewards.
Featured photo credit: Money by Sebjanssen via flickr.com