You can go over this list involving thoughtful ways to garner and increase income with investments of time or money. These are workable and easily understood.
Investments That Can Grow Over Time
1. Begin With Saving As Investing
Let’s begin with saving some money. Determine if there’s an area you need or want to cut back on. This can be painful, and that’s good.
If not considering saving as investing, look at it like this. Through saving money, that save amount can be put into investing. This is coming up with money to actually invest wherever one chooses.
This shifting money around can equate to making a small investment that brings back some money. Save some here, take it there, into a general stock market index fund for example.
Cut the cable bill as an example. If $70 monthly, that’s $840 saved for the year. With $840 invested in a general fund with an 8% annual return, this becomes $3,915 when looking 20 years out. This is with just $840 initially invested, if deciding on a single lump sum deposit. Nice return here, quadrupling the money.
Begin an emergency fund this way. Of course one could choose some other way of coming up with $70 monthly and making the lump sum deposit. Just doing this for a single year could bring enough to be a kind of emergency savings investment, if needed somewhere down the line.
Through making even a big sacrifice of $840 for one year, this may mean future financial distress can be eased.
2. Education Of The Mind
A cheap investment in the self. Far better than within-the-moment thinking of getting money quickly, go for education that lasts over years.
Read. Study. Listen. Watch.
Whatever learning ways or methods work best, go with these to grow an education. Education about monetary means can be essential to getting understanding, a way of going forward one may not have considered.
Education concerning the mind could grow into thousands of dollars or even more over a lifetime.
Here are a few highly-recommended books if you desire some education.
The 4-Hour Workweek by Tim Ferriss
Buffett: The Making of an American Capitalist by Roger Lowenstein
Rich Dad Poor Dad by Robert Kiyosaki
Your Money Or Your Life by Vicki Robin and Joe Dominguez
Reading on the cheap is one way to preserve a small amount of cash. Get one or several books used, and then resell them when finished. Have some paper or electronic device to take comments down of what’s been read over. And then you could let the books be sold off again, retaining money.
Learning new things through reading can bring new opportunities one may not have thought of before. Knowing possibilities can set one off toward a chosen path.
3. Ask Someone About Money
Listen and ask questions.
Do you know anyone successful, like a family member or neighbor?
Go and ask for a few minutes of their time. Ask for tips and advice about beginning the journey toward development of earning income.
Before doing this, having a list of questions may prove helpful. Think of ones revolving around short and long goals for yourself, like where you’d like to be in 1 year and then in 10 years time.
By actually hearing from someone for free, there is sincerity there. You could pick up advice that would benefit faster and more effective than reading books.
A small investment of $5-$10 for the individual’s time would be nice. Someone familiar though may end up giving free advice.
Real world advice can mean a momentary small investment that makes money over time. Try and remember some tips or record audio.
Learn more. By hearing from another, build on any topics discussed by doing further online research for example.
By doing this, one could potentially earn up to hundreds or thousands more during life, simply through curious and studious questioning.
4. Website Small Investment
Here’s a great one. Put in some bit of sweat equity and have a website made. A $40-$100 yearly investment could really bring back some money over time.
The small cost to begin should cover both the domain name and hosting.
After a topic of choice or interest is selected, these small things can be set up fine.
But… it’s slow. This one is real tough to get immediate results with. In fact, many people give up and don’t return to the work at hand. Again, real tough.
Be determined. That’s the ticket here. Without it, might as well give up like many others have done. This is a prerequisite to begin, an absolute essential need for continuation when tough times roll into the picture.
Through determination and perseverance, a business can be built up over several months or longer, just as in the real world.
5. Turn Small Money Into Fractional Shares
M1 Finance, Robinhood, and Fidelity offer fractional shares.
You could buy a few dollars of one share, if the stock price is too high.
This modern day approach to investing is an affordable alternative to having to fork up a lot to begin placing money into companies.
Simply trace the percentage or dollar amount put down, and continue later when interested in furthering the amount.
This is not in vain. Just come back later and completely buy up the one full share as you gain money over time. Hey, beginning is the big part. Feeling discouraged does beat feeling nothing whatsoever, when staying away from the market entirely.
Diversification is another reason for buying small. If you choose to diversify more than focus on one or two stocks, fractional investing can help.
Begin with fractional shares if you feel not quite ready to put down much money.
Before beginning, look at the “how to invest” stock page to get a firm foundation for what it takes to begin with smarts.
6. Double The 401(k) Plan
This method is especially helpful if your employer offers a 401(k) plan with a 100%, or even 50% matching contribution. Getting that free money on top of also stable growth over time, makes this like a 2-for-1 special at the local discount mart.
Throwing $100 with a 100% match is placing $200 into this plan, meaning possibly $393 in a single decade (just one year figured in here though). If you went at this alone, approximately $197 is the result.
The example here reflects getting $293 back instead of $97 for the single $100 deposit. Things could really get interesting when depositing yearly, other than this single one-year deposit.
If you want to be employed, try and work for some company that offers some kind of matching 401(k) contribution. This can be an important question to get answers to before considering work.
7. Offer Online Freelance Work
When going over small investments that make money, here is a great one that doesn’t take much time.
Go to Fiverr and put up a single freelance offering with what you want to charge. Build up more offerings over time with similar or different skills.
This is really passive to begin. At least the offerings don’t take much time to place. Then just wait for the part-time work if possible. Or even market these services elsewhere to begin bringing in some money.
The work itself would take some time to complete. Still though, this takes very little time to get up and going.
It’s a nice part-time attempt that requires no money.
8. Garage, Estate, Thrift Sales
Any one of these three general areas has money just waiting to be produced. Go to local garage sales, estate sales, or maybe thrift stores.
Before buying things you don’t know the value of, research on a smartphone or other device. Look at what they go for online in places like Google Shopping, Ebay or Amazon.
This takes some work, but is enjoyable since one doesn’t know what will be found. Maybe dedicating one day per week is a way to get going.
Picture this. Take $100 and try to acquire things that can sell for $300 every week, just going out to get these things one day each week. Having the potential to get back $800 monthly could really help someone, maybe the reader here.
If only half of things sell, that could still mean $200-$400 in profit, over the period of several weeks.
9. Get Inexpensive Work Help
After working some on a website, or perhaps after building an online store, hire someone to help. Many people wait too late to do this, losing time that doesn’t need to be lost.
A small investment that makes money? Well, a $5 or $10 work objective that is completed may bring back $50 or more for the year. A shirt designer from overseas may be glad to make a higher wage than normal. A content writer for a website or online store help member, the same type of thing here.
This is all relative, according to one’s need. What needs to be done before hiring though is to sit down and write out potential expenses, potential or looked-for returns, and also time saved for not having to work on some things alone. One could just draw columns on paper and measure these things out.
Go look on Fiverr to discover potential avenues of help for whatever business you’re engaged in. Maybe write out the top 5 or so things you may need help with. Then make columns with the previously mentioned measurements. Finally, determine the service or two that you could try out to begin with.
10. Take Photography As Traveler
If you travel much, even once or twice yearly, take photography.
This one is nice to learn about and perform. Buy a nice camera and learn about the details of taking pictures with the particular model. This will help preparation before traveling.
Take pictures and place within an online platform where stock photography is sold. One could get better with more skill at doing this.
Travel isn’t absolutely necessary, though this could bring back more revenue. To offset travel altogether, consider unique perspectives around common everyday things or something else.
Open the mind to think of ways to take pictures.
As a beginning, you could take 100 pictures and place the top 20% online. If successful at some point then just continue the venture. If after placing 100 pictures online with no success at a stock location or two, maybe this isn’t the best usage of time.
Feeling discouraged already? Remember that without trying, the possibility definitely won’t exist whatsoever.
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