Nowadays, 20% to 30% of workers in Europe and the United States are employed in the so-called “free-earnings economy”. This allows them to work when they want, where they want, and as much as they need. Many people of retirement age also resort to part-time jobs to increase their retirement income.
Without an additional job, you can save up for your next vacation, replace your main job from 9 to 5, or increase your retirement savings. There are several ways to make money without one more job. Below is a list of ideas with which you can start earning extra money today. Let’s consider the most effective ways of how to make money without a second job.
Advertising On a Website
If you have already created your personal website, you have the ability to connect to display ads. This can be done in various ways and is generally very simple. People who visit your site read and watch something. They are shown ads automatically. You get money from the views and clicks of your visitors. See examples of advertisements on verified sites. Subscribe to bloggers’ pages to see how it works.
Photos and Videos Sale
Do you like taking pictures? Then you can sell your pictures or videos through photo banks such as Shutterstock, Depositphotos, and iStockphoto.You receive a percentage or flat rate for each photo or video sold through these photo banks. Upload photos and videos to one or more platforms and this is where your active actions end.
Buy a Blog Or a Ready-Made Online Business
Thousands of blogs and online businesses are created every year. Still, many of them are abandoned over time. If you find and purchase a blog or online business with a sufficient flow of visitors, then you make good money on it. Blogs usually sell 24 times monthly income which gives a 4.2% (100/24) return. It is not very high but not very low considering the rates on dollar deposits in banks. Plus, a blog or Internet business can develop increasing earnings. By the way, you can get quick cash at https://directloantransfer.com/payday-loans-online/ service.
Participation in Reviews, Clicks, and Other Online Manipulations
Many advertisers pay money for certain actions on the Internet, such as: click on a link, leave a review, like, repost, fill out a form, etc. Accordingly, some services can automate the process and connect advertisers with people who want to make money in this way. However, such earnings are called passive only conditionally. In addition, they are very low.
A share is a security that gives its owner the right to a share in the company and to receive a portion of the profit in the form of dividends. Company shares are bought through a broker. The entry threshold is usually very low. Earnings consist of two components: growth in the value of a share (bought cheap and sold at a higher price) and also from dividends that companies can pay to the owners of their shares.
However, they do not recommend non-professional investors to buy shares of individual companies. Without significant experience and knowledge, such purchases will be similar to casino bets. The best solution for inexperienced investors would be structured products offered by brokers. These funds or products usually include many stocks. So, a sharp drop in the value of one share will not significantly affect the fall of the entire fund or product.
A bond is a fixed income. It is a loan agreement between a lender (usually national governments, municipal governments, and private companies) under which you lend a certain amount for a certain period at a certain percentage.
The riskiness of this instrument is usually very low but the profitability is also low. However, you earn more on bonds than on bank deposits. You can also buy bonds through a broker but the entry threshold can be high that is from a couple of thousand dollars.
Investments In Overseas Property
With just a couple of tens or hundreds of dollars, start investing in foreign REITs or REIT ETFs (analogous to Russian real estate mutual funds).
- monthly dividends in dollars;
- minimum initial capital;
- the ability to sell shares at any time;
- no problems with tenants, repair, and maintenance;
- high diversification;
- extremely low maintenance costs (fractions of a percent versus a few percent in the real world);
- no asset depreciation.
Mutual funds or Mutual Investment Funds are a kind of pool of money from a large number of investors. They are managed by a management company in order to increase the value of the fund.
Mutual funds can be selected for every taste: branch, “blue chips”, etc. The value of your share (the part you bought in the fund) can go into a deep minus and grow rapidly upward. Therefore, it is a long-term investing instrument for 5-10 years or more. The entry threshold starts from several tens of dollars.
ETFs and BIFs
ETF (Exchange Traded Funds) or BIF (Exchange Traded Funds), as a rule, are tied to a certain type of assets (blue chips, shares of high-growth companies, oil companies) or an index (the stock exchange index of the largest American companies S & P500). There is a great variety of other ETFs and you can choose them for every taste and attitude to risk.