Advertising
Advertising

10 Worst Ways You Probably Have Tried to Earn Extra Money

10 Worst Ways You Probably Have Tried to Earn Extra Money

No matter what the song says “love” does not make the world go around, it’s money.  Certainly, we all want to make extra money.  There are always little emergencies that pop up and more money is always a good thing.  However, at one time or another we have all been suckered into believing in “easy” money.  I hope you’ve managed to stay away from these “money-makers.”  But if you haven’t, you’re not alone.  The following are some of the more common ways that people have tried and ultimately failed to earn

1. Internet Surveys

It certainly sounds very tempting and oh so easy. Simply fill out a few surveys and earn some easy, cold, hard cash. While there are a lucky few who report success in filling out surveys. The person has to be within a very narrow demographic in order to profit big. Also, the surveys may pay a penny or a nickel and a particular limit must be reached before the money can be withdrawn. The result is hours of wasted time filling out very few surveys, all while the cash-out remains illusive.

Advertising

2. Investments

Here the old adage holds very true, “you need money in order to make money.” And most of us simply do not have that kind of disposable cash. If we did, we likely would not need to invest in the first place. Besides the stock market has been very unstable since 2009, when interest rates were kept artificially low. Ultimately, day and foreign market investing are little more than dangerous gambles. Unfortunately, there is no such thing as a “sure” thing when it comes to the stock market.

3. Medical Testing

Not only is medical testing an ultimate waste of time, money, and effort a person is risking their overall good health. The money does sound “easy.” Treatment for certain illnesses is free, plus a small compensation is usually provided. Trouble erupts when one person decides to take more than one experiment at a time. The medication or treatment provided may only make the person sicker. Medical testing only puts the person at unnecessary risk.

Advertising

4. Selling Bodily Fluids

Once you get past the “ick” factor and really think about this option, it really is a poor way to make money. The process is very, very time-consuming for what amounts to very low pay. Women can opt to sell their eggs, as well. This practice also takes up time and can be quite painful as fertility shots are often required. Donations simply are not a dependable means of making money and very often the practice is limited to strict time restraints.

5. Holding A Sign For Traffic

These folds are often referred to as “sign spinners.” We’ve all seen them standing on a sidewalk, holding a sign to advertise a particular business. Rain or shine, someone can usually be noticed attempting to attract business. The job is tiring due to the requirement of standing on your feet day in and day out. And the pay is generally very poor. Some dislike the practice because it has the potential to distract drivers.

Advertising

6. Renting Your Stuff

This practice has become more popular in the last few years. For example, some may rent out their privately owned vehicle or storage space, while still others may rent out homes. The problem is that the return payment may not fully cover any damages done to the personal property. Another disadvantage is that a renter may simply walk away rather than paying on time. The practice simply doesn’t reap the rich rewards in the end.

7. Illegitimate Work-At-Home Jobs

While it sounds great, unfortunately “envelope-stuffing” is not a thing. There are machines that can do the same thing for far less money than their human counterparts. There are hundreds, if not thousands of sites prepared to take your money and offer absolutely nothing but heartache and empty pockets in return. Some of these sites are designed to sucker good people into laundering money for illegal reasons. The best policy is to stay away from these empty promises.

Advertising

8. Treasure Hunting

Who hasn’t dreamed of digging up a Spanish gold piece on some distant beach. Geo-caching is another form of the treasure hunting dream. A prize is hidden somewhere and with the use of longitude and latitude people are encouraged to find the hidden treasure. Instead of a metal detector, a GPS is required to hunt for lost treasure. Great amounts of time are required to invest in something with very low return.

9. World Of Warcraft And Similar Games

What could be better than searching for and then selling virtual treasure? It’d be great save for the fact that the market has become over saturated and many have simply lost interest in the practice. Often the result is extremely time-consuming at very low return. Video game reviews and testimonials end up with the same result, too much time with too little return. Not to mention the fact that companies don’t want negative reviews, only positive ones.

10. Recycling

Here again we see an extremely time-consuming effort for very little return. Not to mention the fact that a lot of recycling has to be done before a profit can be turned. In most cases, you would have to collect recyclables from others. And unless you have the storage space and the means to move and clean substantial amounts of items, the effort simply is not worth it. Collections of old cans doesn’t even generate the minimum wage that the effort involves.

More by this author

20 Awesome DIY Office Organization Ideas That Boost Efficiency 25 Simple And Creative Ways To Cheer Someone Up 25 Bathroom Hacks You’ll Want to Share With Everyone The Best Answers to the 7 Worst Interview Questions 10 Benefits of Bitter Melon That Makes It Even More Worth Eating

Trending in Money

1Top 10 Recommendations on Money Management Apps 2How Much Should I Spend on Rent? Find Your Answer Here 3How Much Money Do I Need to Retire? Find Your Answer Here 4The Ultimate Guide to Make Saving Money Fast and Easy 56 Easy Ways to Treat Yourself

Read Next

Advertising
Advertising

Published on July 4, 2018

Top 10 Recommendations on Money Management Apps

Top 10 Recommendations on Money Management Apps

Don’t want to overspend your budget, swipe your credit card too many times, and feel like a financial mess? Instead of beating yourself up for the bad financial decisions you’ve ever made, create a new plan!

The solution is simple, save more and spend less. But, we all know it’s easier said than done.

One problem is finding quality apps that save you time and money, and aren’t just hype.

Luckily, there’re many great money management apps available at your fingertips. Here are 10 reliable money management apps that can help you save money, and crush debt.

1. Personal Capital

    When was the last time you’ve tracked your net worth? Probably months ago or maybe never. Personal Capital allows you to easily track your net worth and plan for retirement.

    Here are some of its main features:

    • Sync many investment accounts, and expenses (mortgage, credit cards, etc.) in one place
    • Discover hidden fees and how much they’re affecting your retirement plan
    • Wealth management for investors requiring a long-term strategy

    With Personal you’re free to track your expenses and net worth.

    Available for: iOS and Android

    2. Mint

      If your smartphone could only install a few apps, Mint would be one of them. Why? Because Mint tracks all your balances and bills in one place.

      Here are some of its main features:

      Advertising

      • Effortlessly track all your bills and balances in one dashboard
      • Categorized expenses to understand where you spend your money
      • Uncover hidden fees, and determine your investment style with sophisticated retirement tools.

      Feel at ease with managing your money by a reputable company that isn’t going anywhere.

      Available for: iOS and Android

      3. YNAB

        Everyone needs a budget, there’s no way around it. YNAB (You Need A Budget) is an easy to use app that will change the way you think about money. Their motto is to “give every dollar a job”, and you’ll quickly discover why.

        Here are some of its main features:

        • Easily sync all bank accounts in one place
        • Visually see your debt paying progress with eye-catching charts and notifications
        • Customized categories setting saving goals

        The best part about YNAB is the community that comes along with it. You can hop on the YNAB forum to receive support, listen to the YNAB Podcast or stay tuned for their weekly videos.

        Available for: iOS and Android

        4. Wealthfront

          Albert Einstein once said “compound interest is the eight wonder in the world”, and for a very good reason. The problem is, most people are scared or unwilling to learn the basics of investing. This is why Wealthfront is the perfect solution for the hands-off investors.

          Here are some of its main features:

          • Variety of investment account options including IRA, Roth IRA, and more
          • Your portfolio composed of 7 different asset classes
          • Automatically rebalanced portfolio
          • Daily tax loss harvesting

          Wealthfront is perfect for people requiring investment guidance, or prefer a hands-off solution.

          Available for: iOS and Android

          Advertising

          5. Clarity Money

            If you’re staying on top of your budget but want to take your finances to the next level, Clarity Money can help you. Clarity Money helps you stay under budget and build a personalized savings plan.

            Here are some of its main features:

            • Easily cancel subscriptions with one click
            • Synchronize bank accounts fast
            • Transfer money effortlessly between different accounts

            Clarity Money isn’t an app that does it all. But, it does make transferring money and canceling subscriptions fast and efficient.

            Available for: iOS and Android

            6. Acorns

              What if there was a way to quickly gain confidence in investing your money, without too much risk? There is, and Acorns is your solution. With Acorns’s technology, you’re able to make investments as small as $5.

              Here are some of its main features:

              • Automatic contribution option
              • Customized portfolio tailored to your needs
              • Low management fees ranging from $1-$2 per month

              Stop wasting dollars on expensive coffee. Instead, invest them towards a brighter financial future.

              Available for: iOS and Android

              7. Albert

                Do you budget by only subtracting your expenses from your income? If so, how would you discover any overpayments or extra money you could save? This is where Albert shines, and it does it all free.

                Advertising

                Here are some of its main features:

                • Receive notifications for overpayments, hidden fees, and low balances
                • An Automatic budget that’s built around your spending and income
                • Easily track debt and set new financial goals

                While Albert does offer a paid option, most of its core features are FREE. So, what better option to save?

                Available for: iOS

                8. Prism

                  Have you recently forgot to pay a bill because life got in the way? Prism automatically tracks your bills and syncs your bank accounts in one place.

                  Here are some of its main features:

                  • View all your account balances in one glance
                  • Bill due dates are automatically pulled and tracked
                  • Receive early reminders for upcoming bills

                  If your budget is on “fleek” but can’t seem to stay on top of your bills, Prism is your go-to app.

                  Available for: iOS, Android, Windows, Amazon

                  9. Mvelopes

                    Remember hearing about people using envelopes to budget their money? Well, Mvelopes is the new envelope system for this generation. Easily create monthly budgets and track your saving goals.

                    Here are some of its main features:

                    • Connect unlimited bank accounts
                    • Real-time budgeting with auto transaction syncing
                    • Low monthly $4 fee or $40 annual

                    Mvelopes can help you crush debt, save more, and help you stop overspending. With its low monthly fee, it’s worth a try.

                    Advertising

                    Available for: iOS and Android

                    10. Wallaby

                      Most people don’t have time to track their credit card’s changing rewards and interest rates. Because of this, you need help reaping the most of your credit card’s rewards. Wallaby is the app that will help you do just that.

                      Here are some of its main features:

                      • Automatic recommendations for the best credit card to use for each transaction
                      • A friendly user interface, displaying credit cards with their corresponding images
                      • Free to use

                      If you’re using the same credit card to make your purchases, you may be leaving money on the table. Give Wallaby a try if you’re ready to maximize your credit card’s rewards.

                      Available for: iOS and Android

                      Take control of your finances and experience financial freedom

                      Picture yourself staying on budget and saving more money than you’d ever imagined.

                      It took hard work and dedication but you’d finally learned how to manage your money. You have to start taking control of your spending and saving habits.

                      You now have a list of reliable apps that can help you build better money habits, what are you waiting for?

                      Featured photo credit: Pexels via pexels.com

                      Read Next