Inflation has reached record levels, and while the government has imposed a few price rises here and there, it hasn’t made much difference to the average person on the street. With the cost of living constantly rising, it makes sense for working parents to look for ways to supplement their income. Thanks to the proliferation of online trading platforms, there are now ways to make money online even if you’re not technologically savvy. The key is to understand what you’re doing and how to make the most of it.
Sign Up For A Brokers’ Bonus
If you’re a financial broker, you’ll be familiar with the concept of referral bonuses. These are incentives paid to brokers who bring in new investors. Sometimes the bonus is paid in cash, and other times it’s paid in shares or stock of the company you’re working for. For example, if you’re working for a major bank, you might be given a $10,000 bonus if you bring in $1 million worth of business over a period of a few months. Naturally, you’ll want to sign up for as many of these bonuses as you can.
The only downside is that most bonus programs are restricted to big banks and other financial institutions. Trying to navigate the paperwork and verify your identity to join a broker’s bonus program is cumbersome and time-consuming. Fortunately, there’s an easier way. Through a service known as My WalletPlus, you can take advantage of referral bonuses without having to bother with any documentation.
Make Money With Cryptocurrencies
There are dozens of cryptocurrencies available for trading, and while some are better than others, most of them share some common traits. First, let’s look at the general premise behind cryptocurrencies – digital currencies that aren’t tied to any government or central authority. Their value is solely based on the collective opinion of those trading them. In theory, this should make them less susceptible to inflation than traditional currencies – at least, not as much. Second, most cryptocurrencies can be traded for profit with minimal overhead. This makes them perfect for those looking to enter the market for the first time or those wanting to enter on a limited budget.
In practice, though, cryptocurrencies aren’t quite as simple to trade as their ideal profile would have you believe. For one thing, most cryptocurrencies aren’t actually traded on stock exchanges like traditional currencies are. Instead, they’re traded directly between traders. This means you have to have someone to trade with if you want to enter the market. For another thing, not all cryptocurrencies are created equal. Some are objectively better than others based on a number of metrics – including, but not limited to, trading volume, market cap, and the number of active trading addresses (this last one is indicative of how seriously people take the cryptocurrency). Knowing how to evaluate a cryptocurrency’s strengths and weaknesses can make the difference between making money and losing money when you enter the market. Finally, just because cryptocurrencies aren’t tied to any one country or region of the world doesn’t mean that their value will fluctuate to the same degree as other global currencies. For example, the Japanese yen has lost a significant amount of value against the U.S. dollar in recent years, despite the fact that it’s not tied to any one country or region. This is why it’s always a good idea to keep an eye on the dollar’s value when valuing cryptocurrencies – not to mention the fact that many of them are significantly more volatile than traditional currencies. All in all, though, cryptocurrencies are a viable option for those seeking an additional income stream.]
Make Money With Trades And Forex
Similar to cryptocurrencies, there are a number of tradable assets – specifically, stocks, options, and futures – that you can trade for profit. The primary difference between these markets and cryptocurrencies is that they’re not decentralized. Instead, they’re regulated by central authorities that maintain strict control over the entire process. This can be useful in some situations, such as when you want to keep your finances private, or when you want to avoid the many pitfalls that come with dealing with cryptocurrencies.
The fact that these markets are centrally regulated makes it easier for those wanting to enter the market. Instead of having to learn how to evaluate and trade a diverse group of cryptocurrencies, you can simply follow the rules set by the governing bodies of the various markets to make money quickly. The downsides are similar to those with most other types of online passive income. First, the amount of money you can make is highly dependent on your capital. Second, you have to have the time to follow the rules and regulations of the various markets you want to trade. Third, for those wanting to make a living from trading, the hours can be extremely demanding. Finally, just because something is easy to do doesn’t mean it’s right for everyone. Succeeding in any type of cash-based online business takes a bit of luck as well as a solid plan. There are a number of successful financiers who made their money primarily through trading.
Create A YouTube Channel
As we established earlier, not everyone wants to go the traditional route of getting a job and working their way up the corporate ladder. For those who want to keep their lifestyle choices private, YouTube is the perfect solution. All you need is a good phone, a laptop, and you’re good to go. If you can upload videos easily and consistently, you can use the platform to make money through affiliate marketing – earning a commission for each product or service you promote through your videos. You can find affiliate marketing jobs – particularly for influencers – through specialized job websites like InfluencerMarketplace and MyBloggersClub. You can also use third-party affiliate networks like SkimLinks, RevShare, and Commission Junction that connect you with hundreds of brands and products that you can promote through YouTube.
If you want to make money from your travels, you can use tools like YouTube Geo-targeting to target audiences in specific countries – like Mexico or Brazil – where you know there’s demand for your products. One of the appealing aspects of YouTube is the ability to connect with and engage with a mass audience. Though the platform has plenty of skeptics who question whether or not it’s really a viable source of income, the evidence points to yes. Several major brands, publications, and governmental agencies like the IRS rely on YouTube for content marketing – specifically, how-to videos relating to their products and services.
YouTube can also be a solid source of income for those looking to become financial independent. Consider creating a channel around a niche interest like stock investing or cryptocurrency trading. The key is to develop a following and then leverage that audience to pitch affiliate products and services that they might be interested in.
Start A Blog
Blogs are a fantastic way to establish your online persona and connect with potential subscribers and customers. Similar to YouTube, established blogs can use affiliate marketing to monetize their content. The big difference is that with a blog, you’re free to explore a diverse range of topics. This can make it a bit more difficult to pinpoint an audience that will value your content, but that’s part of the appeal. Established blogs can also be a platform for more traditional types of content, like why-I-love-X articles, if that’s what you prefer to write.
Blogs can also be used to establish a platform for those wanting to promote affiliate products. The key is to find a topic that you’re passionate about and then establish yourself as an expert in the field. If you can connect with and engage with an audience, they’ll likely tune in for more – particularly if you’ve got a nice collection of products you can promote. One of the best places to find affiliate marketing blogs is through the blog directories that exist for various niches like fitness, beauty, and lifestyle.
Start A Podcast
If you’re looking for a way to establish your voice and gain credibility in your industry, consider doing the unthinkable and following the footsteps of dozens of successful entrepreneurs before you. Instead of getting a traditional job in your chosen field and making your money the old-fashioned way, why not consider pursuing a side gig as a professional podcast host? You can use your platform to educate and entertain your audience with top-notch interviews, special guest appearances, and news discussions relating to your chosen fields – like financial technology, wealth management, or real estate investing – and beyond. Podcasts are generally more difficult to monetize than blogs and YouTube channels. However, there are ways to make money with podcasts through affiliate marketing and sponsorships – particularly if you develop a following. If you want to get started, you can use tools like Stitcher, Tunein, and Podcast Republic to find and listen to podcasts on your preferred devices.
If none of the above seem like a fit, maybe you should consider trying your hand at freelance writing. Similar to blogging, this is where you earn money via online articles, either temporarily or periodically. The key is to build a reputation as a reliable writer in your chosen niche – like travel, technology, or health — and then use that to pitch writing gigs.