Sure, these people will make money over time by sitting on their funds, but one small slip up, like a medical bill or an impulse purchase, can throw it entirely off. These people also begin to get into a frugal/cheap mindset, which can often be a disservice because they are limited themselves when it comes to taking prime opportunities to earn more.
What do I mean by all this?
Investing in yourself is a fantastic way to gain an edge on your personal finance even if you’re not great with crunching numbers. Let me explain.
Leverage Your Hobbies
If you want the easiest route to make money on the side, then you’ll want to tap into your interests. In this case, I want to mention your hobbies because you’re already accustomed and experienced with what’s needed to do such an activity and all that’s needed is an outlet to turn it into a money maker.
A hobby of any kind can make money:
· Like model trains and good at designing the scenery? Provide that service to others.
· Enjoy developing websites for personal projects? Pitch it to small businesses.
· Spend a good deal of time knitting? Start selling those creations on Etsy or at a flea market.
Here you will spend a bit of money to get started in terms of buying additional items used with the hobby and getting on a platform to begin selling the products or it as a service. For $20 – $50 you could easily invest in what you already love doing and turn it into a money maker.
Keeping Sharp with Quick Sells
Keep your eyes out next time you’re out at the store, flea market, thrift shop, lounging around your room, or just riding around town because there are money-making opportunities in all these activities:
· Around the room, you could collect old electronics and sell them online for a nice profit through sites like ItsWorthMore.com.
· At the store, you could peruse the clearance section and later sell these items at a yard sale or online – the same can be done by flipping items you find at a thrift shop or flea market
· When you’re out and about, especially in college areas, you can find tons of items on the curb that are in great shape that could go on eBay or Craigslist
A bit of gas money to run around (the monetary investment) or a bit of your time can land you some extra bucks which could be used to.
Invest In Your Education
Anything you want can be learned online. Most of the information is free if you’re willing to find it, while other complicated topics may require a small investment into purchasing an online course.
Further education is always a fantastic investment to earn more money:
· You bring new skills to the table and demand a raise.
· You can find yourself in a new industry altogether.
· You could turn those skills into side income earners.
You could enroll in one of the many online classes or just take the time to purchase some accompanying materials to learn as you go with a tutorial you may find on YouTube. Every new skill you learn can be a money maker for your job/career or leveraged into something much like turning a hobby into a small business.
Oh Where It’ll Take You
Having read all this, consider these questions:
· Do you want to slowly build your savings from a typical income stream?
· Do you want to stack income earners on top of what you already do (and know)?
These little changes to your habits can change your life. You begin to develop new routines and an inquisitive mind that sees opportunities in every activity. You understand that to make more money you need to be willing to spend the money to get there.