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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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    The Gentle Art of Saying No

    The Gentle Art of Saying No

    No!

    It’s a simple fact that you can never be productive if you take on too many commitments — you simply spread yourself too thin and will not be able to get anything done, at least not well or on time.

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    But requests for your time are coming in all the time — through phone, email, IM or in person. To stay productive, and minimize stress, you have to learn the Gentle Art of Saying No — an art that many people have problems with.

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    What’s so hard about saying no? Well, to start with, it can hurt, anger or disappoint the person you’re saying “no” to, and that’s not usually a fun task. Second, if you hope to work with that person in the future, you’ll want to continue to have a good relationship with that person, and saying “no” in the wrong way can jeopardize that.

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    But it doesn’t have to be difficult or hard on your relationship. Here are the Top 10 tips for learning the Gentle Art of Saying No:

    1. Value your time. Know your commitments, and how valuable your precious time is. Then, when someone asks you to dedicate some of your time to a new commitment, you’ll know that you simply cannot do it. And tell them that: “I just can’t right now … my plate is overloaded as it is.”
    2. Know your priorities. Even if you do have some extra time (which for many of us is rare), is this new commitment really the way you want to spend that time? For myself, I know that more commitments means less time with my wife and kids, who are more important to me than anything.
    3. Practice saying no. Practice makes perfect. Saying “no” as often as you can is a great way to get better at it and more comfortable with saying the word. And sometimes, repeating the word is the only way to get a message through to extremely persistent people. When they keep insisting, just keep saying no. Eventually, they’ll get the message.
    4. Don’t apologize. A common way to start out is “I’m sorry but …” as people think that it sounds more polite. While politeness is important, apologizing just makes it sound weaker. You need to be firm, and unapologetic about guarding your time.
    5. Stop being nice. Again, it’s important to be polite, but being nice by saying yes all the time only hurts you. When you make it easy for people to grab your time (or money), they will continue to do it. But if you erect a wall, they will look for easier targets. Show them that your time is well guarded by being firm and turning down as many requests (that are not on your top priority list) as possible.
    6. Say no to your boss. Sometimes we feel that we have to say yes to our boss — they’re our boss, right? And if we say “no” then we look like we can’t handle the work — at least, that’s the common reasoning. But in fact, it’s the opposite — explain to your boss that by taking on too many commitments, you are weakening your productivity and jeopardizing your existing commitments. If your boss insists that you take on the project, go over your project or task list and ask him/her to re-prioritize, explaining that there’s only so much you can take on at one time.
    7. Pre-empting. It’s often much easier to pre-empt requests than to say “no” to them after the request has been made. If you know that requests are likely to be made, perhaps in a meeting, just say to everyone as soon as you come into the meeting, “Look guys, just to let you know, my week is booked full with some urgent projects and I won’t be able to take on any new requests.”
    8. Get back to you. Instead of providing an answer then and there, it’s often better to tell the person you’ll give their request some thought and get back to them. This will allow you to give it some consideration, and check your commitments and priorities. Then, if you can’t take on the request, simply tell them: “After giving this some thought, and checking my commitments, I won’t be able to accommodate the request at this time.” At least you gave it some consideration.
    9. Maybe later. If this is an option that you’d like to keep open, instead of just shutting the door on the person, it’s often better to just say, “This sounds like an interesting opportunity, but I just don’t have the time at the moment. Perhaps you could check back with me in [give a time frame].” Next time, when they check back with you, you might have some free time on your hands.
    10. It’s not you, it’s me. This classic dating rejection can work in other situations. Don’t be insincere about it, though. Often the person or project is a good one, but it’s just not right for you, at least not at this time. Simply say so — you can compliment the idea, the project, the person, the organization … but say that it’s not the right fit, or it’s not what you’re looking for at this time. Only say this if it’s true — people can sense insincerity.

    Featured photo credit: Pexels via pexels.com

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