In the consumerist society we live in, it is always advisable to look for ways to save and earn extra money. Whether that be to save for a more luxurious retirement, or save for a deposit so you can get on the housing ladder, it is quite safe to say that everyone would like a little more money in their bank accounts, and more of a disposable income. If this applies to you, then read on to find out about a few hassle-free ways you can earn a few more pennies.
Cryptocurrency is a form of digital money that has risen in popularity over the last couple of years as a way to make a considerable amount of money quickly. These currencies include Potcoin, Bitcoin, DigitalNote, LiteCoin and many more. There are more than 900 cryptocurrencies currently, so there are plenty to choose from. Recently, the most popular and well-known way of investing in cryptocurrencies is Bitcoin colocation. This is a way of mining Bitcoin currency without having to buy the computing equipment necessary to keep the comprehensive processes running. Mining cryptocurrency takes a lot of energy and processing power and using colocation allows you to save on the cost of hardware – therefore more pennies in your pocket.
Investing in stocks and shares can be an intimidating thing to start doing, you may have even considered using a financial advisor to point you in the right direction. The downside of this is that not only are financial advisors quite costly, but they also usually require you to have a pretty sizeable portfolio to begin with. Not ideal for the first timers out there. A robo-advisor uses the same algorithms and programs that a human advisor uses, but the automated process allows for considerably reduced overheads and thus a considerably reduced cost to the end user. Obviously, these programs simply offer you advice, and you have to decide how you want to invest your money. High risk usually has the potential for bigger payouts, and low risk can take a long time to accumulate a decent amount of profit. You must decide the right balance for you.
Crowdfunding, in essence, is like a worldwide version of Dragon’s Den, except that instead of asking one business expert for a big sum of money, the business or startup asks the general public for a number of small donations. This is great for startup businesses, but it can also represent a huge opportunity for potential investors – i.e. you. Each business will ask for and offer different things – for example, a small share in the company or initial profits. By investing in a startup company or business, you are opening up opportunities for immense growth in your initial outlay.
Affiliate Links on Blogs
Many people operate and run a blog for their own benefit; some do it to impart their wisdom or expertise to others. If you have a decent following on your blog, you could start to reach out to a number of companies to create affiliate links or paid advertising on your blog page. Affiliate links work by you recommending certain products or services in your posts, and you gain a small fee or percentage of the profits should anyone use those products or services after visiting your website. The amount you earn per click will likely be quite small, but with enough traffic and enough links, you can start to gain a steady stream of passive income.
There you have it, a few hassle-free ways that could allow you to travel a bit more, treat yourself a bit more, and stress about money a lot less.