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5 Alternative Ways to Make Money

5 Alternative Ways to Make Money

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.

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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.

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    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.

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    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.

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    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.

    5. Yourself

    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

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    Last Updated on May 21, 2019

    How to Communicate Effectively in Any Relationship

    How to Communicate Effectively in Any Relationship

    For all our social media bravado, we live in a society where communication is seen less as an art, and more as a perfunctory exercise. We spend so much time with people, yet we struggle with how to meaningfully communicate.

    If you believe you have mastered effective communication, scan the list below and see whether you can see yourself in any of the examples:

    Example 1

    You are uncomfortable with a person’s actions or comments, and rather than telling the individual immediately, you sidestep the issue and attempt to move on as though the offending behavior or comment never happened.

    You move on with the relationship and develop a pattern of not addressing challenging situations. Before long, the person with whom you are in relationship will say or do something that pushes you over the top and predictably, you explode or withdraw completely from the relationship.

    In this example, hard-to-speak truths become never- expressed truths that turn into resentment and anger.

    Example 2

    You communicate from the head and without emotion. While what you communicate makes perfect sense to you, it comes across as cold because it lacks emotion.

    People do not understand what motivates you to say what you say, and without sharing your feelings and emotions, others experience you as rude, cold or aggressive.

    You will know this is a problem if people shy away from you, ignore your contributions in meetings or tell you your words hurt. You can also know you struggle in this area if you find yourself constantly apologizing for things you have said.

    Example 3

    You have an issue with one person, but you communicate your problem to an entirely different person.

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    The person in whom you confide lacks the authority to resolve the matter troubling you, and while you have vented and expressed frustration, the underlying challenge is unresolved.

    Example 4

    You grew up in a family with destructive communication habits and those habits play out in your current relationships.

    Because you have never stopped to ask why you communicate the way you do and whether your communication style still works, you may lack understanding of how your words impact others and how to implement positive change.

    If you find yourself in any of the situations described above, this article is for you.

    Communication can build or decimate worlds and it is important we get it right. Regardless of your professional aspirations or personal goals, you can improve your communication skills if you:

    • Understand your own communication style
    • Tailor your style depending on the needs of the audience
    • Communicate with precision and care
    • Be mindful of your delivery, timing and messenger

    1. Understand Your Communication Style

    To communicate effectively, you must understand the communication legacy passed down from our parents, grandparents or caregivers. Each of us grew up with spoken and unspoken rules about communication.

    In some families, direct communication is practiced and honored. In other families, family members are encouraged to shy away from difficult conversations. Some families appreciate open and frank dialogue and others do not. Other families practice silence about substantive matters, that is, they seldom or rarely broach difficult conversations at all.

    Before you can appreciate the nuance required in communication, it helps to know the familial patterns you grew up with.

    2. Learn Others Communication Styles

    Communicating effectively requires you to take a step back, assess the intended recipient of your communication and think through how the individual prefers to be communicated with. Once you know this, you can tailor your message in a way that increases the likelihood of being heard. This also prevents you from assuming the way you communicate with one group is appropriate or right for all groups or people.

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    If you are unsure how to determine the styles of the groups or persons with whom you are interacting, you can always ask them:

    “How do you prefer to receive information?”

    This approach requires listening, both to what the individuals say as well as what is unspoken. Virgin Group CEO Richard Branson noted that the best communicators are also great listeners.

    To communicate effectively from relationship to relationship and situation to situation, you must understand the communication needs of others.

    3. Exercise Precision and Care

    A recent engagement underscored for me the importance of exercising care when communicating.

    On a recent trip to Ohio, I decided to meet up with an old friend to go for a walk. As we strolled through the soccer park, my friend gently announced that he had something to talk about, he was upset with me. His introduction to the problem allowed me to mentally shift gears and prepare for the conversation.

    Shortly after introducing the shift in conversation, my friend asked me why I didn’t invite him to the launch party for my business. He lives in Ohio and I live in the D.C. area.

    I explained that the event snuck up on me, and I only started planning the invite list three weeks before the event. Due to the last-minute nature of the gathering, I opted to invite people in the DMV area versus my friends from outside the area – I didn’t want to be disrespectful by asking them to travel on such short notice.

    I also noted that I didn’t want to be disappointed if he and others declined to come to the event. So I played it safe in terms of inviting people who were local.

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    In the moment, I felt the conversation went very well. I also checked in with my friend a few days after our walk, affirmed my appreciation for his willingness to communicate his upset and our ability to work through it.

    The way this conversation unfolded exemplified effective communication. My friend approached me with grace and vulnerability. He approached me with a level of curiosity that didn’t put me on my heels — I was able to really listen to what he was saying, apologize for how my decision impacted him and vow that going forward, I would always ask rather than making decisions for him and others.

    Our relationship is intact, and I now have information that will help me become a better friend to him and others.

    4. Be Mindful of Delivery, Timing and Messenger

    Communicating effectively also requires thinking through the delivery of the message one intends to communicate as well as the appropriate time for the discussion.

    In an Entrepreneur.com column, VIP Contributor Deep Patel, noted that persons interested in communicating well need to master the art of timing. Patel noted,[1]

    “Great comedians, like all great communicators, are able to feel out their audience to determine when to move on to a new topic or when to reiterate an idea.”

    Communicating effectively also requires thoughtfulness about the messenger. A person prone to dramatic, angry outbursts should never be called upon to deliver constructive feedback, especially to people whom they do not know. The immediate aftermath of a mass shooting is not the ideal time to talk about the importance of the Second Amendment rights.

    Like everyone else, I must work to ensure my communication is layered with precision and care.

    It requires precision because words must be carefully tailored to the person with whom you are speaking.

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    It requires intentionality because before one communicates, one should think about the audience and what the audience needs in order to hear your message the way you intended it to be communicated.

    It requires active listening which is about hearing verbal and nonverbal messages.

    Even though we may be right in what we say, how we say it could derail the impact of the message and the other parties’ ability to hear the message.

    Communicating with care is also about saying things that the people in our life need to hear and doing so with love.

    The Bottom Line

    When I left the meeting with my dear friend, I wondered if I was replicating or modeling this level of openness and transparency in the rest of my relationships.

    I was intrigued and appreciative. He’d clearly thought about what he wanted to say to me, picked the appropriate time to share his feedback and then delivered it with care. He hit the ball out of the park and I’m hopeful we all do the same.

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    Featured photo credit: Kenan Buhic via unsplash.com

    Reference

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