Here are some ways to make money during these uncertain times. The global economy is free falling right now and this opens lots of opportunity to create wealth for those who are ready. Maybe you want cash for your emergency fund or you want to start investing while everything is cheap. Here are some ideas. 1. Invest In Stocks If you have money to invest, you have a huge opportunity. You can buy quality investments right now for pennies on the dollar. As stock markets around the world are free falling amazing companies can be bought right now for huge bargains. So anyone who has money to deploy can turn this into a huge opportunity. To buy stocks you need to open a brokerage account. Here are some popular options if you don’t know which one to choose: 🇺🇸 Webull – Bonus: Free stock worth up to $1400 if you deposit $5 within 30 days 🇨🇦 WealthSimple Trade – Bonus $5 free when you buy $100 worth of stocks/ETFs 🇮🇳 Zerodha – India’s most popular broker 2. Start Driving For Money During these times, food delivery and grocery delivery apps like Instacart and Door Dash will be really popular right now. In fact, Instacart is hiring 300,000 shoppers to deliver groceries to people in North America! Since people are quarantined or isolated they will be ordering a lot more food and takeout. Postmates claims you can make up to $27/hour and it might be even more now since there will be higher demand. Food delivery apps are in every country. So try the options above or search ones that are in your area. Here are some options: Instacart – deliver groceries Door Dash – deliver takeout Postmates – deliver takeout 3. Save Money Online Saving money is just as good in times like this. If you’re doing more online shopping than normal right now make sure you use the Honey extension to save on your orders. Honey automatically searches the internet for coupons so you always get the best deal. Honey works especially well with Amazon.com, Amazon.ca and Amazon.uk and it is used by over 10 million people. Honey can also be combined with Rakuten for 2x the savings! Rakuten gives you cash back at places like Amazon and 100’s of other popular brands. So if you shop through Rakuten you will get 3% to 40% cash back and it’s a free service. Sign up on Rakuten and get $10 when you spend $25! 4. Start Other Side Hustles This is a good time to earn cash whether it’s for an emergency fund or so you can invest into other opportunities. By starting a side hustle you can quickly build up cash when it’s needed most. Here are some side hustles other than food delivery: Rent out your car to rideshare drivers (passive income) Start freelancing online (On upwork, fiverr etc) Start an online business (browse this app for tons of options) Browse this app for tons of side hustles as well! 5. Refinance Your Debt By lowering your high interest debt you will have more money to deploy to the other opportunities on this list. The fastest way to lower your debt is to refinance it! For example, if you have a loan with 19% interest there are companies that will switch it to 7% interest for you. This is just an example but you can do this with student loans, mortgages, personal loans and more. Depending on the size of your loans this can free up $100’s of dollars per month that you can start investing. Check out Earnest to refinance your loans. They have refinanced over $8 billion in student loans, personal loans and more. You can also find many more companies with a quick Google search. 6. Take Courses Intelligence is directly correlated with how rich someone is. So you can use this time to take online courses, sharpen your skills and become better at creating income. Here are some great courses I know of or have taken in the last few years: 1) Free training for Social Media Marketing Agency (SMMA) 2) Scott Hilse – Learn how to start Dropshipping 3) The Insta Blueprint – My instagram marketing guide 4) Udemy – browse thousands of courses for $10.99. I’ve taken MANY courses here. If you’re spending a lot of time at home right now try to use it productively and become a better version of yourself. 7. Be A Good Employee If you’re working right now go above and beyond for your boss. As the markets are going down some companies will have to lay people off. If you are an asset and important to the company you will be less likely to lose your job if it comes down to it. So go above and beyond. Sharpen your skills so you can still have this source of income. If you want to sharpen your skills check out Udemy. They have thousands of courses starting at $10.99. I’ve taken over 10 courses on Udemy and highly recommend it. 8. Get A Focusing App If you feel you’ve been wasting a lot of free time and not maximizing this quarantine none of this advice matters. To help that, try a focusing app like Slash to be more productive. Slash is a desktop app where you can write your to-do lists and it helps you get that important stuff done. With the app, I can knock out tasks one by one without losing focus – it’s pretty amazing. If you want to be more productive during quarantine try a focusing app on your computer. The Bottom Line Times like this can be tough and we’re not sure how long it might last. By having an emergency fund and building cash right now you can become a lot financially stronger. Stay safe!
Friday, August 14, 2020