It’s not just you – everybody dreams of making money with minimal effort! But, how can this be done? People go to many lengths in an attempt to make money without having to do much and this is a great option for those who are unable to work or are somehow restricted to carry out a full-time job. Even if you do have a full-time job and can’t fit any more working hours into the week, there are still ways you can bring more money into the household with little or no effort.
This article discusses some of the ways you can attempt to make money with minimal effort. It’s important to note that not all methods and strategies will work for you, and you might not see the result (cash flow) for some time. However, if you work out what is possible and stay patient, you’ll see the results in no time. Keep reading to find out more!
Invest in securities
Firstly, investing your spare cash in securities such as stocks and bonds is a great way to bring more money into your household. As we mentioned, this might not be a strategy that you reap the benefits from immediately, but it does serve as a great method of investment whereby you’ll see the benefits in the future.
There are many different benefits of investing in stocks which can include – and are not limited to – higher potential for maximised returns in the future and having a safe place to develop your finances with little effort. You don’t necessarily need to do much to invest your money as you put your money into the security and then watch it grow in most circumstances. However, it is good to take a quick crash course and read some guides to investing. This will give you more information and tips and tricks to consider when it comes to making your first investment.
As well as doing some research before you invest, you should also consider the reasons behind why you are investing in the first place. For example, investing in stocks, bonds, ETFs and so on should be a matter of investing your spare cash rather than going ‘all in’. No investment is risk-free which means you have to be very careful when investing and have a clear motive when it comes to the crux. For instance, there is no point in investing in some stocks if you’re looking to clear your debt as this simply isn’t feasible.
Overall, investing in securities is a good way to make money, but it is a hefty investment that you need to stay mindful of over a longer time span. It is worth considering if you have some spare cash to invest at the end of each month!
A second way you can make money by investing minimal effort is through compound interest. The simplest way compound interest can be described is the ways in which the interest you earn also earns interest, and then that interest earns some interest too. This can go on and on forever, but it ultimately refers to exponential growth over time. Experts note that compound interest is a great way to watch your money grow by making little effort, even when you are sitting doing nothing at all. With this, you can watch your money grow faster than it would when being exposed to simple interest.
There are various ways you can earn compound interest but mainly, you are exposed to compound interest more when you invest. It is a commonly known financial fact that investors benefit the most from compound interest, so you would need to expend some spare cash to reap the benefits of it. For instance, if you invest some money, you can watch it grow as the years pass you by – as your balance increases, you’ll receive increased returns. Compound interest is only viable in the longer term, so this is something to remember if you’re looking to build up money for something like retirement.
Shop with cashback in mind
Did you know that you can get cashback when you shop? In this sense, you are not necessarily making money, but you are being smart with how you spend it and how you make it work for you. There are various ways you can get a certain percentage or a certain amount of money back when you shop through specific links online or via mobile apps. Depending on what you use, they work by giving you rewards by shopping with a specific link or on a certain website.
For example, online platforms such as TopCashback allow you to get your money back on certain purchases. This doesn’t work for everything you buy, but it is worth checking whether a site or mobile app supports the link before you buy. This way, instead of purchasing the item full price in the end, you can expect to receive up to 50% of your cash back in some circumstances. This is an excellent way to take back your own money with minimal effort; all it takes is a few searches online!
Many people tend to do this, and it does work in most circumstances. However, it can take some time for your transaction to be cleared. For instance, on TopCashback, it can take anywhere up to six months to receive your funds back in your account. From here, you can simply withdraw them back into your personal bank account. Being smart with your own finances is just as important as making money in the long run!
Create online resources
Another way you can make money with limited effort is by creating online resources for a skill-sharing platform. If you have a niche or you are somehow very good at explaining things, putting your skills to good use and sharing them online is a great way to make money. For example, making content and videos of something you’re good at, whether that is explaining a certain historical period or the ins and outs of interior design, you can share these videos on specific skill-sharing sites. With this, you can generate revenue for the number of watches or reads your content receives.
An easy online platform that allows you to do this is Skillshare whereby you can upload content onto the online platform and charge a fee (however small or large) for the Skillshare audience to watch. Depending on your niche, you might get really lucky and watch money pouring into your account every month. However, this largely depends on the quality of your content and whether it is needed. On Skillshare, you can do live classes or upload pre-created content onto the site which will suit your needs too! Would you consider creating online resources to expand your income?
Be wise with spending habits
Let’s be honest, it doesn’t take a lot of effort to be wise with your spending habits. To put it plainly, stop spending so much money on useless items or activities. As much as leisure is required to keep us happy and entertained, you should curtail your spending on these areas as much as you can. If you do this wisely, you can invest your spare cash elsewhere to reap the benefits of interest (for example) over time. A short but sweet point – this is definitely worth your consideration!
Sell old and unused belongings
How much junk do you have lying around the house? Your junk might be loved by someone else, so now might be a good time to sell your old and unused belongings. If you’ve made it this far into the article, you’ll be wanting to find out simple and easy ways to make money. Selling your old belongings has never been easier thanks to the development of technology and online social platforms.
Rather than packing up your stuff and heading to a local flea market, you can now sell your items online with a little or no fee at all. Some of the things you can consider selling are old books, clothes, shoes, utensils and so on. In 2021, people are becoming engrossed with sustainable living and for them, purchasing second-hand rather than brand new items from shops is becoming a lot more popular. All you need to do is take a few quick pictures and add in some descriptions of your products and your good to go! Do you have anything you’d like to get rid of?
To conclude, this article has discussed some of the main ways you can make money (or make your money back) with minimal effort. Sadly, there are not many ways we can make money by doing nothing unless you’re a wealthy business owner. Ideally, you have to be smart with your cash and make the right investments where necessary. There are so many more cash building ways out with this article, so it is worth doing some research from here on!