Wouldn't it be great to be able to earn money without working? While there is no sure way to succeed in this venture, with some strategies you can increase your finances with very little effort. If you have money to invest or are willing to put in the effort to make money, it will be much easier to make money without having a traditional job.
Steps
Method 1 of 4: Earning in Non-Traditional Ways
Step 1. Rent a room in your home
If you have unused rooms in your home, you can furnish them and rent them to tenants. If you decide to go this route, respect the laws governing rental agreements in your area, in relation to the cost of rent, services, etc. This activity allows you to raise a nice sum every month without doing any kind of work, except preparing the room.
- The more private the room, the higher the rent can be. If you have a separate basement apartment with a kitchen and bathroom, you can ask for a much higher rent than if you had a simple extra room.
- Only rent rooms to responsible, trustworthy tenants who meet payment deadlines and your property. It's a good idea to have tenants run a background and credit review, as well as ask them for references from past landlords and a copy of a recent payment.
- Services like Airbnb can help you connect with travelers and other people looking for short-term rentals. This can allow you to ask for a much higher rent than if you rented the place for a month.
Step 2. Earn money on the internet
There are tons of ways to make money online today, but almost all of them require you to do some kind of work. If you are committed to developing your image, you could really solve your cash flow problems.
- Start a blog or website of your own. If your site became popular and attracted a lot of traffic, you could make a lot of money selling advertising space. If writing isn't your thing, you can also create video content.
- If you are an expert on any subject, you can try to sell your information, in the form of e-books, webinars or educational videos. Whether you choose to teach people math, juggling, or a foreign language, you can probably find something useful to share!
- If you are willing to take on a more traditional job, you can make money from home by writing as a freelance or becoming a virtual assistant. Try searching the internet for sites dedicated to self-employed or home-based work.
Step 3. Earn royalties
If you're willing to work hard today to make money in the future, you can write a book or song, or invent a product. The chances of being successful are slim, but if your creation becomes popular, you could make money from your work without having to do anything else.
Existing royalty rights can be purchased at auction, but you should do extensive research to make sure this is a wise investment
Step 4. Get paid for short term jobs
If you don't like the idea of having a steady job, but are willing to spend a few hours a day working online or visiting different places in your city, you may be able to earn a lot of money. Before accepting a job, always make sure that you clearly understand the amount of your compensation.
- Participate in fictitious juries or product testing groups. For some of these jobs you will need to introduce yourself in person, while in other cases you will be able to participate via the internet. You will be paid to listen to a presentation and to express your opinion about it.
- Online surveys are a quick and easy way to earn some money. There are many companies that offer paid surveys, such as SurveySavvy and SurveySpot.
- If you like surfing the internet, you might want to try to make some money by trying new websites and sharing your opinion. On sites like UserTesting.com you will find many opportunities.
- Mystery shopping is a great option if you love to shop and eat in restaurants. To receive your compensation, all you have to do is go to a club, act like a normal customer, then share your opinion on the experience. Depending on the employment, you will receive money, free products or services. You can search for employment opportunities from individual businesses, or search for classifieds on entities such as the Mystery Shopping Providers Association.
Step 5. Sell something
If you have items you don't use, you can try selling them on sites like eBay, Amazon, or Craigslist. If you're creative, you might even consider selling self-made products on Etsy or similar platforms.
- If you are willing to work hard to find items to sell, you can make a lot of money by buying and selling particular items. The secret is to look for bargains at flea markets, private sales and second-hand shops before reselling them on the internet. This method works especially well for books, which are easy to store and ship.
- If online sales aren't your thing, you can organize a private sale or try to place your items at thrift markets in your area.
Step 6. Ask for alms
If you have no other choice, you always have the option of asking whoever is luckier for money. You should do this on busy streets or in other safe public places where cars or pedestrians pass. Almsgiving can allow you to survive decently, but it does require you to spend many hours outdoors in potentially unfavorable weather conditions.
- If you decide to beg, the image is everything. You should give the impression that you need the help of others, but without appearing in any way dangerous or threatening.
- You may be more successful by providing passersby with some form of entertainment, playing an instrument, singing, doing magic tricks or other types of performances, but you should inquire if the money earned in this way is taxable in your country.
Method 2 of 4: Earn Money With Finances You Already Own
Step 1. Lend your money
If you already have a large sum, you can make even more money by lending it and asking for interest. There are many companies, the best known being Prosper and Lending Club, which connect lenders with people in need of loans. Even though the world of industry has moved away from private investment, there are still opportunities to be exploited.
If you want to become a lender, make sure you comply with all applicable laws in your country
Step 2. Earn interest
Instead of leaving your money in a checking account (or under your mattress), deposit it in an account that allows you to earn interest. The money you will receive is much higher than the amounts guaranteed by normal current accounts. Ask an advisor at your local bank for more information on which investments are best suited to your portfolio.
Note that these types of accounts require a minimum amount to generate interest. They also often involve tying up the money for a long time, during which time you won't be able to access your money without paying a penalty
Step 3. Invest in the stock market
If you want to make money without working, you can learn how to play the stock market successfully. Stock trading is certainly not a risk-free business, but if you are smart, attentive and lucky, you can make good money. Whatever investment you decide to make, do not invest sums that you cannot afford to lose.
- Low-cost online trading platforms are ideal for investors who don't want to pay a professional to take care of their finances.
- There are many different investment strategies, so do your research and choose the best one for you. Whatever your decision, it is important to maintain a differentiated investment park and stay up to date with changes in the market.
Step 4. Invest in a business
Financing a successful business is a surefire way to get rich, although finding such a company is very difficult. If you are lucky enough to find a company you strongly believe in, be sure to do all your research before investing your money.
- It is very important to have confidence in the governing bodies of the company. A clueless manager can ruin even businesses that promote great ideas.
- You should have complete information on the expenses the company will have to incur, potential future profits, its brand and its image before investing.
- Make sure your rights are protected by the contract you enter into. You should also consider the options for concluding the agreement.
- Don't invest all your money in one business. If it fails, you will lose all your capital.
Step 5. Buy and sell real estate
The English expression house flipping refers to the practice of buying properties at low cost and in poor condition, increasing their value (with better ones or waiting for a more favorable period for the real estate market) and then reselling them to make a profit. By making smart choices and having good knowledge about home repairs, you can earn thousands of euros for every refurbished property, even if unexpected expenses and periods of crisis in the real estate market can lead you to lose money.
- Make sure you know the local market very well before investing in real estate or you may lose money on the sale.
- If you don't have enough money to hire firms that can do the renovations for you, buying and selling houses takes a lot of work. Even if you are approaching professionals, you should still take care of the supervision.
- If you don't have the money to invest in real estate, there are many other things you can buy and resell, such as furniture and cars. You can resell whatever you are able to buy for little money and repair it yourself to increase its value.
Method 3 of 4: Borrowing Money
Step 1. Apply for a temporary loan
If you are employed but need money before your next paycheck, a short-term loan may be the right solution for you. The sums you can apply for are low and you can find services that grant loans of this type on the internet and in your city.
Be careful with this type of loan, as they often have very high interest rates. They are only useful in case of real emergencies
Step 2. Advance expenses with your credit card
Many credit companies give you the ability to make payments or withdraw money even if there is no liquidity in your account. As with short loans, these advances often carry high interest rates.
Make sure you read your contract with the credit company carefully to know exactly what your expenses are
Step 3. Apply for a bank loan
Banks and credit companies offer a large variety of loans. Some, such as mortgages, require you to use your personal property as collateral in case of failure to return the money. If you don't own a home or other assets, you may still be able to get a personal loan, depending on your financial situation.
Be sure to compare the terms offered by multiple companies before taking out a mortgage. Credit companies often offer lower interest rates than banks
Step 4. Get a loan from friends or relatives
It can be a difficult decision, because if you are unable to pay back your personal relationship may be affected. If you choose to borrow money from friends or family, be sure to honestly explain how long it will take you to pay off your debt.
Method 4 of 4: Effortless Earnings
Step 1. Inherit the money
If you have an elderly and wealthy relative, you may receive some money when they read their will. Of course, if you are very attached to that relative, you are more likely to be placed in the will, so always try to treat your older family members with love. It probably goes without saying, but treating seniors with love and respect just to get their money is an incredibly cruel and cynical action.
Step 2. Win the lottery
Lottery or Superenalotto tickets cost only a few euros and you can find them in many supermarkets and tobacconists, so they represent one of the cheapest and least demanding ways to earn. Remember, though, that you are much more likely to lose money by buying a lottery ticket than to win a significant prize.
Always buy lottery tickets with the expectation of losing. While it is true that it is impossible to win the lottery without purchasing a ticket, you should never resort to this attempt as a means of livelihood. To give you a perspective of your win rates, the odds of winning the top prize in the United States are roughly 1 in 200 million
Step 3. Win a contest
Like the lottery, a contest can completely change your life from day to night. The odds of winning are very low, but some do. The more contests you enter, the higher your chances of winning cash and other valuable prizes will be.
- The advantage of competitions over the lottery is that registration is often free. Try searching the internet and social networks to find free contests you can participate in. You can also learn about these events by paying attention to the advertisements on the products that you find on the shelves of supermarkets. Many of them don't even require purchase to participate.
- If you want to participate in as many prize games as possible, try searching the internet to find newsletters dedicated to these events. Thanks to them you will always be updated on the competitions of the moment and you will not have to waste hours of your time doing research.
- There are many scams disguised as sweepstakes on the internet, so be careful. You should never be asked to pay a fee or disclose your credit card number to collect your winnings from a legitimate contest. You should also be very careful about how much personal information you provide to enter a sweepstakes.
Advice
- If you are not very lucky, you will probably have to work to make money. Try to find an activity that you are passionate about, to make the work less burdensome.
- Find a mentor skilled in finance management and learn from him.
Warnings
- All investments can fail, so never risk money you can't afford to lose.
- Watch out for those who promise to make you rich in a short time. If a deal sounds too good to be true, it probably is!
- Avoid gambling if you have a hard time managing addictions.
