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4 Ways To Turn Your Apartment Into A Money Maker

4 Ways To Turn Your Apartment Into A Money Maker

These days it’s become the norm for people to have more than one source of income. There are so many unique money-making opportunities possible that people are realizing that they can earn a few extra hundred dollars a month by thinking outside the box.

Even though the economy seems to be on the mend, many of us are still living on a tight budget. A potentially lucrative but often overlooked place to make bank is your most valuable asset, your home. It’s a goldmine waiting to be excavated and a great place to boost your income. In the past, this may have meant re-mortgaging to release additional cash, but we have all the basics to be a bit more imaginative.

Besides having a junk-yard sale where one’s trash is another’s treasure, there are several unconventional ways to make a few extra pennies from the comfort of your home.

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1. Rent it out

Whether you have a spare room or an entire house to rent out to travelers, students or even temporary subletters, both options can help you to hone in on the big bucks. Some find it uncomfortable ‘living’ with a stranger, so the other option is to rent out your whole place. Think about taking that vacation you have been day-dreaming about at your office desk, which could possibly be covered by the guests in your home.

Airbnb make the process stress-free. It’s a great way for you to monetize your extra space and advertise it all over the world. If you still feel a little weary and have a fear of not being in control of your precious home, there are services who offer to take care of managing all the logistics remotely for you, such as Guesty, who clean and are available 24/7 for your guests’ needs.

2. See your home in lights

You can have your 15 minutes of fame by opening up your home to film crews or photographers. Many magazine and television companies are always looking for new and different places to shoot or film. If your home is well designed and immaculate, it could be perfect for a magazine. Family homes are often in high demand by television companies. Here’s a few tips to get started.

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This isn’t a surefire way to earn cash, but many agencies have a free registration so there’s no harm in applying. The film crew generally starts early and ends before you’re back from work. If they are a reputable company they will restore the home to the order it was found, paying for repairs and all. If you are not too house-proud this could be a jackpot if your home is picked, but be prepared to have your place turned upside-down as they may move furniture or paint the walls.

3. Lease out your garage or driveway

If you feel that the other options are home-invasions, there’s another alternative – how about letting people park in your drive? There’s plenty of money to be made, especially if you are located near the airport or a sports stadium. The idea is so simple and there are many websites that offer the service to business people traveling abroad who need a place to store their car.

 4. Freelance from your sofa

For some, renting out their home can be uncomfortable, the other option is to ‘sell’ your talents. Instead of spending your free time browsing Facebook, these hours could be used to make some cash on the side at the end of the month. If you are talented in writing, computer skills or even design, you can freelance these skills remotely. Sign up for a freelancing site, such as Upwork, where you can offer your services and get paid in return for your work.

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Freelancing offers consistent opportunities, no matter what the general job role. When companies are cash heavy, they have extra work that requires freelance help or when they’re cash-strapped and they can’t afford to hire full-timers, so they bring on more affordable freelance workers.

These options are just a taste of how you can earn money from your own home. Employment opportunities are becoming rare and it’s good to know that you have the ability to take things into your own hands.

Do you make money working from home? Share your experiences with us!

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Featured photo credit: ApartmentMoney via gratisography.com

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Yoav Vilner

CEO at Ranky

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Last Updated on March 29, 2021

Life Insurance: A Secure Way To Protect Your Future.

Life Insurance: A Secure Way To Protect Your Future.

Life is a journey full of ups and downs. No one can actually predict what might happen the next moment; there are times where the happiest moments do not even take a second to turn into the gravest. Planning for your future can help you face such unwelcomed but irrepressible situations with much ease. We all want to make every memorable event of our life more special and to cherish all those moments happily and worry less, you must financially plan your future. But no one has control over life and death. Who would wish to see his family suffer in his absence? Insurance hands over the financial jeopardy of life’s happenings to an insurance company.

Importance of getting a life insurance

No one has control over life and death. Nobody would like to see their family suffering in an absence, and that’s why many people recommend life insurance. A life insurance plan is one of the best ways to secure the future of your family, even against those financial troubles after an untimely demise. These plans are safe and credible, and you could trust them for your family’s better future.

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On the other hand, a life insurance policy is a contract between a company (insurance provider) and policyholder in which the insurance provider ensures to pay a certain amount of money to the nominated beneficiary in case of the policyholder’s death during the term of the agreement. There are different types of insurance plans, and it is important for you to know the benefits of those plans such as a funeral, medical or some life expenses provided they are mentioned in the agreement.

Choosing the right insurance plan

If you’re about to select an insurance plan, you should consider some important factors:

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  • The time at which you start investing in a program and the number of family members you want to get insured. Obviously, a married man with two children has different needs compared to a single one. The number of persons who are dependent on an individual also varies from person to person.
  • The next thing you need to consider is you and your family needs. What are your child’s dream, your retirement plans, for how long would your dependents need financial support, any personal injury, etc. And do not forget those events or situations that will surely demand a huge sum of money.
  • The next thing one must consider is your current income. You should preferably choose a plan which you can afford.

Now you must be having a pretty clear idea of how to choose the best plan for you. Further, you should also compare various plans offered by different companies and numerous sites available online that help will you to compare them.

Differences between life insurance plans

Here’s a short brief of some plan categories you can choose according to your needs:

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  • Term Insurance Plan – You have to pay once, and your nominee gets the paid money under your misfortune demise. It ensures a person for a fixed time. If you survive the policy period, you do not get your premiums back.
  • Whole Life Policy – This plan continues for your lifetime. Under this, the policyholder has to pay regular premiums, until their death.
  • Endowment Policy –  In case the individual dies during the tenure, the beneficiary gets the amount assured. If the person survives the policy tenure, they gets back the premiums paid with other investment returns along with several other benefits.
  • Money Back Policy – In this a portion of the money invested is returned to the investor at regular intervals. If you survive the insurance term you get the entire amount back; else the beneficiary receives the entire sum assured.
  • ULIPs – These are the life insurance plans that offer you future security plus wealth creation options.

Many people do not opt for whole life policy and endowment policy because of the high amount of money you need to pay, while others may prefer to opt for these if they have a high life expectancy. Surely you will find the best one for you.

So what are you waiting for? Plan for your future and live a happier and carefree life today.

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Featured photo credit: aryehsampson.com via aryehsampson.com

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