Hello Friends! You’ve been asking for ways to increase your income, so the folks over at alux.com did this video on jobs you can pick up on the side and who knows, might even become your full time job after some time! Do you work from home? What do you do?
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If you want to get started investing but don’t have a ton of money to invest, don’t let that fact discourage you. While it’s true that you need at least a few thousand dollars to create a properly diversified portfolio of individual stocks, here are three ways you could start investing for your future today with just $500 or even less.
Warren Buffett’s favorite investment
It may surprise you, coming from one of the most highly regarded stock pickers of all time, that Warren Buffett believes that the best investment most Americans can make are low-cost index funds, and the exchange-traded fund (ETF) variety is a great way for investors without a ton of capital to get started. Buffett particularly loves S&P 500 index funds as a bet on American business, but there are low-cost ETFs available for all sorts of investment objectives and risk tolerances.
IMAGE SOURCE: GETTY IMAGES.
What’s more, you can typically avoid paying trading commissions on ETFs, either by investing directly through the ETF’s issuing company (like Vanguard) or by using a broker who offers commission-free ETFs. As a personal example, I invest through TD Ameritrade, and as of this writing, there are over 100 commission-free ETFs to choose from (enrollment is required).
As an example, let’s say that I want to invest in the Vanguard Mid-Cap Growth Index Fund ETF(NYSEMKT: VOT), my personal favorite mid-cap growth ETF, which trades for just under $119 per share as I write this and is on my broker’s commission-free list. I could take my $500, buy four shares of the fund for $476, and not pay a dime in commissions. As time goes on and I want to add more to my portfolio, all I need is enough money to buy a single share of this or another ETF.
Buy a mutual fund
Another option is to invest in a mutual fund. Many mutual funds have relatively high minimum investments, but there are plenty that don’t. A quick search on TD Ameritrade shows over 400 mutual funds with no transaction fees that have minimum initial investment requirements of $500 or less. American Funds and TIAA-CREF are good examples of companies with a lot of low-minimum mutual funds.
In addition, many mutual funds with larger minimum investment requirements will waive the minimum if you agree to make monthly investments. This not only allows you to get your money into a mutual fund you otherwise wouldn’t be allowed to invest in, but can automate the process of investing a little at a time, which can help your nest egg build faster. Artisan Partners is a company that has no minimum investment requirement if you agree to automatic investing, whereas their account minimum is usually $1,000 per fund.
Pay off high-interest credit card debt
This may not sound like an “investment,” but hear me out. American households have about $1 trillion of credit card debt, and the average credit card interest rate is about 15%. It is simply not a smart idea to invest your money while you have high-interest debt hanging over your head.
Think about it this way. Historically, the S&P 500 returns about 9%-10% per year, on average. So, if you invest your $500, you can reasonably expect it to earn you about $50 over the course of a year. Meanwhile, if you have $500 in credit card debt at 15%, it costs you $75 annually just to maintain the debt. So, even if your investment earns 10%, you’re still setting yourself up to lose$25.
This is a simplified example, but my point is that if you have high-interest credit card debt, that may be the best use of your extra cash until it’s under control.
When you’re searching for work from home job opportunities, it pays to browse many different job boards! I have found some real gems this way although I admit it can become tedious digging through tons of results. However, I personally use many different sites for sourcing leads when I’m searching for things to add to my work at home job leads board.
Four Things to Keep In Mind Before You Start Searching For Home-Based Jobs
#1 – Not all job search sites are going to give you the same results, which is why it’s good to bookmark several different ones.
#2 – Not everything listed on these job search sites is legitimate. The usual rules apply — do your research and watch out for work from home job opportunities that seem suspicious or too good to be true.
#3 – Using good keywords will help you narrow things down. When searching work at home, type in things like “telecommute,” “remote,” or “work at home.” You can also narrow your results down further by typing in “freelance writing/writer,” “mystery shopping,” etc. based on the exact type of job you need, or even filter things by location.
#4 – On the sites that let you post your resume online, be careful and only publish the bare minimum. I’ve never actually done this with my resume so I’m not sure how it really works, but I would think it’s not a good idea to have your address, phone, or other very personal information floating around for just anyone to access.
#5 – And on the subject of scams, if you receive an email from a company that wants to interview you via Google hangouts or Yahoo! Messenger, tells you about this too-good-to-be-true job, and then wants to mail you a check or send you money to deposit for “office supplies,” run away! You are being ripped off. The check turns out to be fraudulent and you’re the one who will pay the price for it.
Where To Look For Work From Home Job Opportunities
1. Indeed.com – Indeed is like the Google of job search sites. Their data comes from several different sources and they have great options for sorting and searching jobs.
2. Flex Jobs – This is a “pay to access” site, but it’s well worth the $15 monthly fee. I signed up a few years ago and still pay for it. I was very impressed with not only the quality of leads (updated five days a week), but also the organization of the site and the fact everything really is scam-free. Also, FlexJobs focuses on work at home and flexible jobs, so you’re not browsing through as many things that aren’t a fit.
If you only want to try it for one month, you can set things up in your account settings so your membership does not auto-renew once your first month runs out.
3. Ad Hunt’r – This was formerly known as “All of Craigs”. It’s basically a search tool to help you search all the Craigslist results across multiple cities. This simplifies things because you don’t have to go to each specific city and type in your keywords. This one has been a lifesaver for me because you can often find great work at home job postings on Craigslist.
4. Career Builder – Another good one to use for searching work from home job opportunities. Very simple set up, not a lot of fuss or ads. Even though there are now many other popular job boards, several companies still post exclusively with Career Builder. For example, Write Score, a work at home scoring company, only uses Career Builder for posting their leads publicly.
5.Beyond – This is a very well-known, reputable job search site that has been around for a while. You can also create a portfolio there to help potential employers find you.
6. Job.com – Another established job search site with good results filtering. It’s also possible to post your resume publicly here, but again, use caution when doing this.
7. SnagaJob – I’ve known about this one for a few years. You can either browse jobs directly (link at top of page), or register and create a “career profile” for employers. You can also sign up for email alerts when jobs are available in your area.
8. Dice.com – Great for finding work at home “tech” jobs. Very clean, simple layout.
9. Zip Recruiter – One of the “top dogs” of job boards. I’ve found many good leads there in the past.
10. Monster.com – One of the most well-known job boards, Monster is worth checking. Many employers go there first when trying to find places to post openings.
Bonus! Popular Blogs Sharing Work at Home Job Leads
In addition to those job search boards, I also recommend finding leads on some popular, reputable work at home blogs. Here are some of my favorites (as well as my own).
1. Real Ways to Earn job board – I add leads here 4-5 days per week and I’m extremely careful about what I add. I try very hard to make sure I include leads that are open to, and will appeal to, many people.
When you sell designs online, you can live a successful creative life on your own terms and collect payments over and over again — even while you sleep! How? By signing up at one of the popular marketplaces where you can use your creativity to turn everyday products into individual works of art.
These sites let you sell designs online (for free) and enable independent artists to easily earn passive income.Your designs make it in front of millions of shoppers around the world and the marketplace handles all the logistics for you — manufacturing, shipping, customer service — letting you do what you do best, create!
Perfect for artists, graphic designers, & photographers — get your work in front of 30 million worldwide shoppers when you become a Zazzle Designer. Did I mention Zazzle is free to use?
After you sign up, you’ll pick a store name and set up shop. Choose from hundreds of products you want to apply your designs to including t-shirts, phone cases, greeting cards, and buttons. When you’ve got just the right design, post your item for sale.
Each time one of your designs sells, you’ll get paid a price of your choosing thanks to Zazzle’s “Name Your Royalty Program.” There’s no need to worry about manufacturing, shipping, or customer service — Zazzle takes care of all that for you.
Zazzle is such a large, popular, and reputable designers’ marketplace that artists are earning a passive income while creating the things they love. When you sell on Zazzle, your designs will be placed alongside big-name brands like Paul Frank and Disney. Plus, everything you sell is backed by Zazzle’s 100% satisfaction guarantee ensuring customers will love your designs as much as the products they’re printed on.
You can sell designs online and turn your artwork into a variety of products when you sign up as a member at Society6. You can sell your artwork as prints or on products like shower curtains, mobile device cases, and throw pillows — but you’ve got to become verified first (this is how you’ll get paid).
Once you’re verified, you can create “posts” that make your artwork immediately available for sale. As the artist, you retain all rights to your work even if one of Society6’s retail partners sells your designs on their site.
When you sell your art as prints, you get to choose the profit you make on each sale. When you place your prints on products, you’ll earn a predetermined amount each time something sells. For example, you’ll earn $6.80 for each shower curtain that sells with one of your designs on it.
Easily market and sell designs online when you connect your Facebook and Twitter accounts and start tracking your earnings! Payments are made via PayPal on the 1st of each month.
Redbubble (RB) is a global marketplace for independent artists. When you sell on RB, you get to place your designs on high-quality products and sell to a large audience — all for free.
Redbubble coordinates the shipping and manufacture of each design that you sell. They’ll also handle all of the customer service for you, leaving you more time to design and create — opening up even more passive income opportunities. There’s a lot of different products you can place your designs on like posters, t-shirts, and vinyl stickers.
RB gives you total control over pricing using their “Base Price + Your Margin = Retail Price” pricing system. The average RB artist’s margins are 17%, but you get to choose the price that makes sense for your designs. Join the more than 350,000 independent artists who make money with their art and designs on Redbubble.
Sell Designs Online & Earn Passive Income
What’s great about these three sites is you still own all the rights to your work but are given a new way to monetize your creativity. As long as you keep uploading designs and creating new products, you’ll have the potential to earn unlimited sales anytime, day and night.
Unlike other marketplaces that let you sell designs and handmade items online, you don’t have to worry about collecting payments, manufacturing, shipping, returns, or customer service. Simply sell designs online and start earning passive income — you get to be creative while they take care of the rest.
Tired of the same old 9 to 5 grind? I hear you. It can be super discouraging being stuck in a job that you hate.
Never getting credit for the hard work you do or getting passed over for promotions because of your gender or age; even though you would be the best person for the job.
Who needs that, right? The thing is that many of us can’t just pick up and leave our jobs just because we feel like it. We have financial obligations, we have families we need to support, we have homes that we need to pay for.
It sucks! But here’s the thing, even if you can’t get out of that soul sucking job right now, there are things that you can do in your spare time that will lead you to the life you want.
Want to know how? Well, by creating multiple streams of easy passive income, that’s how.
What is passive income anyways?
Passive income is basically putting in some up front work that will end up generating income for years to come with little ongoing effort.
Creating multiple streams of passive income is one of the easiest ways to grow a business while still working at your current job to fulfill your financial obligations.
With every new stream of easy passive income you create, you’ll be one step closer to replacing your current paycheck.
How I earn easy passive income
Take this blog for instance, this is a form of passive income for me. Even though I work at it all the time writing content and promoting it, I’m still earning easy passive income from ads on my blog.
I also make money every with affiliate sales from articles and reviews that I wrote months or years ago. Plus I have a digital product for sale that brings in income every month. Not to bad huh?
Now you don’t need a blog to earn easy passive income. There are many ways that you can generate easy passive income. Here are 23 of the best ways that I’ve found to make money with little effort.
23 Easy Passive Income Ideas
Start a blog
I know, I know…you don’t need a blog to earn passive income but it is a great way to earn passive income. I just gave you some example of how I earn passive income with my blog.
Writing an eBook is a great way to make easy passive income that flows in for years. You don’t need to be a great writer to make money with an eBook.
You might have a nice library of family recipes that can be compiled into an eBook. Maybe you’ve been gardening for years, you can compile your knowledge, tips and trick and share them in an eBook.
You can use a platform such as Amazon Kindle to sell your eBooks or you can use other services such asSendOwl (which is super cheap) to deliver your eBook.
Peer to Peer Lending
Peer to Peer lending is when you loan money out to people who do not qualify for traditional loans. Typically you can expect a return of anywhere from 5 to 10% on your investment.
Investing money this way will bring in higher rates of return then a typical savings or money market account.Lending Pointis a great company to start peer to peer lending.
Rent a Room
If you have a spare bedroom in your home why not rent it out to make some money to help pay the bills? Be sure to do your due diligence before allowing someone to come in your home. Ask for personal references and check them.
You should also make sure you have an agreement between you and your renter. You want to make sure your rules are laid out in black and white so both you and your tenant are on the same page as to what is allowed and not.
Get Out of Debt
This doesn’t seem like the typical easy passive income idea. You may be thinking, how will getting out of debt earn me money? Well, if you get rid of your debt, then you’ll have that much more money in your pockets instead of giving it to the credit card companies.
Take a look at what you are being charged every month in high interest rates. Those high interest fees will go straight into your pockets once you are debt free.
I created a Financial Freedom Debt Free Planner to help you on your way to getting out of debt. You can check it out here and you’ll also be able to see one of my many easy passive income streams too.
Affiliate marketing is normally associated with blogging or having a website but you don’t necessarily have to have either of those to make money through affiliates.
If you don’t know, affiliate marketing is when you promote products that you use and love to your friends. If they purchase the product you sent them to through your affiliate link, you earn a commission for the sale and it’s at no extra cost to your friend.
All you really need to make money with affiliate marketing is a decent following on some social media sites and you are good to go.
If you’ve ever thought about selling stuff online but don’t want to deal with all the hassle of shipping items out all the time, then you should consider finding products that you can have drop shipped to your customers.
Really all you need to do is find a few good and profitable products that you can list online. Then create listings and every time you make a sale, the drop shipper takes care of the rest.
One word of caution, make sure you order the products for yourself first so you can check out the quality of the product as well as how good the drop ship company is at fulfilling orders.
It’s your name on the line here, so make sure your customers are getting great service.
Cash Back Sites
Using cash back sites and apps is an easy way to make passive income with little work. I mean, why not get paid for something you are going to do anyways, right?
Just think about it, you go to a website to make a purchase and you get paid for it. What’s easier then that.
Creating a course is along the same lines as writing an eBook. You share your knowledge on a specific topic in the form of a course which could include videos, workbooks, planners and more.
Typically courses are priced pretty much higher than eBooks so it’s worth putting in the extra effort into your course right from the start to make the most of this easy passive income stream.
I’ve never created a course but I have taken some pretty great courses which were hosted by sites likethinkific and teachable.
You Tube Videos
Who would have thought that you can make money with funny home videos of your pets? Well you can onYouTube. Every time someone watches your videos, they also see some ads which is how you make money.
There are many types of videos that you can post on YouTube (it doesn’t need to be your pets), how to’s and tutorials are really popular on YouTube as well. All you need is some great ideas and a decent following and you’re good to go.
Rent Storage Space
If you have any kind of storage space such as a garage or barn with some extra room, then why not rent that space out? There are many people who need to store things like seasonal recreational vehicles that pay good money to rent out space.
If you are going to do this make sure that those items will be covered by your insurance if a mishap should happen. You don’t want to be stuck with a huge expense should something happen.
Vending Machine / Batting Cage / Photo Booth
Vending machines, batting cages and photo booths (among others) are a great way to earn some good money. Most of these things are self sustaining without much work except regular maintenance.
To make it truly an easy passive income, you can hire someone out to do these tasks while you sit back and relax.
If you love to being creative, designing or creating art work, then why not get paid for it? You can make money over and over again with your designs when offered on print on demand sites like Zazzle, CafePressand Red Bubble.
These sites allow you to add your artwork to all kinds of different products such as coffee mugs, canvas prints, framed artwork and much more at no upfront cost to you.
Private Label Product
There are many companies out there that offer private labeled products that you can sell under your own brand. It does take quite a bit of upfront work and research, but once that work is complete, you keep earning profits every time your products sell.
You can sell you private label products just about anywhere these days. One of the easiest and most passive way is selling them through Amazon’s FBA program. You simply create a listing, then ship your products off to an Amazon warehouse and then Amazon takes care of the rest.
If you have money in the bank, then why not move it over to high yielding online savings account. CIT Bankoffers interest rates that are on average over 20x more than traditional savings accounts.
Many people shy away from online banks because they think it’s risky but the legit banks are FDIC insured so you have nothing to worry about.
Do you love taking beautiful photographs? Just like selling your designs on products, you can make good money selling you photography on sites like Big Stock Photo and Shutterstock among many others.
Every time someone downloads one of your images to use on things like brochures or websites, you get paid a commission so you’re making money over and over again on something that you’ve put work into once.
You don’t have to be a great artist to be able to earn easy passive income selling t-shirts. Just think about all those novelty t-shirts you see everyday?
Most of them are just words with funny sayings. So, with just a bit of creativity and humor, you can make good money selling them.
It this interests you, check out Merch by Amazon. This is a print on demand t-shirt site run by Amazon, what better place than Amazon to have you designs available for sale.
You can make some good passive income from designing and selling digital products with just a little bit of computer know how.
Digital product can be anything that someone downloads to print or to use as is. It could be a planner, patterns, eBooks, templates or done for you spreadsheets. Basically, the possibilities are endless.
I use Sendowl to delivery my digital planner, they have multi-level subscriptions so you can pick your plan and price based on your needs. They take care of payments and delivering your digital product every time it sells. It’s basically set it and forget it. Pretty easy huh?
If you’ve ever put together a big event, then you know that there are many things that you need to make it all work. So why not become the person who makes good money renting out things like folding tables and chairs, chair covers, decorations, and even dinnerware?
You can require that whoever is renting pick up and drop off the supplies so there is little work that you need to do. Or you can even hire someone to do it for you which will increase the rental fee, to cover the cost of corse.
Rental properties are not only a good easy passive income stream but a good investment as well. The rental income you get not only puts money in your pockets each month, but it also pays the mortgage on the properties too.
Just think of how much more extra money you will be bringing in once the mortgage is paid off on those rental properties.
Of course there is maintenance that you need to consider but you can alway hire those tasks out.
Place ads on your vehicle
How nice would it be to make a few hundred dollars every month just for placing an ad or two on your car windows and just driving around the same way you normally do?
Who would have thought? You can check out Carvertise to see how much you could make just for placing an advertisement or two on your vehicle.
Create an app
You can make some serious money if the have the techie skills to create an app. You don’t have to develop the next big gaming app.
There are many apps that can be created to help people do things easier or in a more organized way that are very popular and are probably more evergreen than games so you can be making easy passive income from them for years to come.
Okay, house sitting is not totally passive income but it’s income that you can make for just doing what you normally would do, just at someone else’s home.
What could be better than that? Well, maybe starting a house sitting business and hire other people to do the house sitting for you. You can even hire someone to do the administrative work as well and just collect your portion of the profits..
A laundry mat can really earn you quite a bit of easy passive income month after month. I’m not sure if it’s like this everywhere, but most of the laundry mats that I’ve been to are pretty much unmanned.
So besides unlocking the doors in the morning and locking up at the end of the day, there isn’t much more to it. Once it’s set up there is little day to day work involved in keeping it going and earning.
You can hire someone to check in every now and then and to perform maintenance and repairs that are needed to the equipment.
23 Easy Passive Income Ideas
So there you have it 23 ways you can make money while you sleep. I’m sure there are many more ways to earn easy passive income beyond this list.
Just think outside the box and one day you can be raking in money while lying on the beach drinking a margarita. How cool would that be???!!!
Do you have any other easy passive income streams you could add to this list? Please leave a comment to share them.
Want a glimpse into the psyche of a startup founder? A survey by Silicon Valley Business Journal found that 25 percent of early-stage founders surveyed believed that if their businesses failed, that outcome would most likely be because of one factor: no cash flow.
That suspicion isn’t unfounded: According to Smallbiztrends.com, more than 50 percent of small businesses fail within the first four years, due mostly to cash-flow problems. Entrepreneurs aren’t just irrationally afraid their funding will dry up — they’re seeing it affect their colleagues in droves.
Look, ideas on their own are great, right? They’re business in its purest form — unsullied by compromise, unnecessary input or cynicism. But they still need lots of things, chief among them money, to prosper. Funding keeps the dream alive, and the act of budgeting that seed money is the key to helping that pure idea blossom into everything you want it to be.
I’ve worked with entrepreneurs and have been one myself for more than a decade, but there’s one lesson that even the most nascent business owner knows: The economics of starting a business get complicated quickly. However, once you understand your cash requirements, you can confidently take the leap and turn your big idea into something viable — without breaking the bank.
The best surprise is no surprise. You’ll want to map out your business in as much detail as possible, thoroughly uncovering all revenue streams and costs, to produce a forward-looking cash-flow statement and balance sheet. A good plan will be comprehensive and strike the right balance between optimism and pessimism.
The more research you do, the more prepared you’ll be when, invariably, something changes that positively or negatively affects your cash requirements. A good business model includes estimates of how much money you’ll need at various stages and helps you avoid landmines, especially if you keep it updated with current market realities. If you’ve already started a business but never undertaken this exercise, don’t wait.
Unsecured money is harder to raise, and investors will be interested in opportunities for which the risk has been mitigated. Convert as many unknowns into knowns as quickly as possible, with real-world representative data. After developing your business model, create a working prototype or minimum viable product to confirm product-market fit and knock down a few barriers in the process.
The availability of cash and the level of operational risk will have a dramatic impact on every level of your business, whether that level means an everyday task or a long-term prospect. Don’t spend yourself out of startup survival. Try these cost-cutting practices to keep your small business above the surface:
Once you’ve established solvency, know that timing is everything. Friends, family, crowdfunding, angel investors and venture capital are just a few means founders use to raise dough; knowing when and how much of an investment you’ll need is key to launching your business successfully.
Your ability to raise funds when you need them will be dependent on risk versus market opportunity. When you secure an investment against an asset, there is obviously less risk for the investor.
Properly explore all scenarios — positive and negative — and set clear KPIs within your model. This keeps you ahead of your cash without needing investors, which improves your leverage when it comes time to raise money.
2. Look outside.
A Businessweek magazine study found that by using contractors, employers can cut costs by 30 percent; this practice helps companies avoid expenses like benefits, payroll tax and vacation time, and using contractors makes it much easier for you to scale or scale back the amount of time that those people work.
Hiring contractors also gives you flexibility that you’d lose by committing to a full-time team member. New hires further require time to develop their talents and probably won’t add value until they’ve been around for six months or more. Contractors, on the other hand, will be experts in their niches and can get to work right away.
3. Offer something extra.
Wanting to decorate Facebook’s walls in its fiscally tight early days, Mark Zuckerberg asked muralist David Choe to work on good faith. Instead of a traditional salary, Zuckerberg offered Choe equity in the company, which Choe was free to cash at any time. In 2012, Choe did just that — gaining $200 million in the process.
Though Choe wasn’t a full-time worker at Facebook, an equity plan is a strategy that startup founders shouldn’t dismiss. “Paying” team members in this way preserves cash on payroll and shares the upside. It’s essentially the same as someone making an investment into the company for cash, but instead investing in the form of a decrease in salary.
4. Listen to the market.
As big a proponent as I am for having a plan and sticking to it, the market couldn’t care less about that when it’s ready to move elsewhere. I started a business called Roozt.com, which aimed to become the Amazon for socially conscious brands looking to sell their wares.
As we built the platform, our yoga vertical’s growth became noteworthy and accounted for 90 percent of all revenue — so much so that we were approached about dealing exclusively in that segment. After talking it out, my investors and I declined to go exclusive on yoga because that had not been the original plan of the business. Needless to say, Roozt didn’t become what we wanted it to be, and not pivoting was a big factor in our having to sell the company prematurely.
So, learn the lesson implied here: Based on the money you’ve raised, change your pro forma projections (projected cash flow) and growth to fit this financing. With a new strategy, you may find a quicker way to profitability, which many businesses today undervalue.
5. Do more with less.
Consider this: Startups that share a co-working space are four times more likely to succeed than those that don’t.
If money is tight, look at your office rent expense. Reducing it can involve moving or downsizing, or evening adopting a virtual office or shared space. The latter not only reduces operating costs, but also helps you interact with other small business owners and employees with various talents and specialties. Remote work, which is another option, affords a business tax deduction if part of that home is used primarily for running a business.
Even if you have a detailed financial business model and have an eye toward reducing costs, it’s important to have a solid “Plan B.” Some planning against negative scenarios goes a long way in mentally preparing you before you’re forced to face the circumstances head-on. Options typically include boosting revenue at a lesser margin, followed by various degrees of cost-cutting and, finally, “doomsday” planning to pivot, sell or liquidate.
The more time you put into creating a comprehensive business model, the easier it will be to react and adjust your course, as needed. Moreover, moving quickly and decisively with a well-thought-out plan B could make all the difference in your eventual business success.
Don’t waste your valuable time filling out surveys or searching with Swagbucks to earn PENNIES.
Seriously, if you want to make a living working from home, there are much, much better options. In this video, I share 12 ideas for how to make money from home. All of these jobs allow you to set your own hours, work for yourself, and be in control of how much money you make.