In an economy where long-term bank notes and savings account do not give good returns, investing in other platforms can be a great way to earn extra cash for your family. Online trading is not risk-free, and sometimes losses are inevitable. With enough research, however, it can potentially be very profitable. Below are some brilliant ways to earn extra cash.
Take Surveys
These often get a bad reputation, especially when legitimate companies are confused with fraudulent online offers. What you need to keenly consider is the association of the online survey with a real market-research company. Normally, fraudulent websites claim extraordinary earnings. Have reasonable expectations and know it may not be possible to make a full-time income with surveys.
Peer-to-Peer Lending
Also known as social lending, platform lending or marketplace lending, this is a debt financing method that allows individuals to borrow money without the involvement of any official financial institution. Ideally, it is a method that takes the middleman out of the lending picture. Without the involvement of a middleman, you get a higher rate of return. Investors fund loans to borrowers for purposes like education, vacations, credit card consolidation and home improvement. As an investor, you earn passive income in terms of interest payments and monthly principal once the loan is repaid. The best part of peer-to-peer lending is that it offers diversification of your investment portfolio.
The Stock Market
Embracing the stock market is one of the most profitable ways of earning extra cash. In fact, stocks have been historically the winning path for every investor. There are numerous avenues of investing, including mutual funds, individual stocks, ETFs, index funds and others. However, investing comes with its risks; and therefore, before hurrying to begin investing, there are a few considerations to make to ensure you earn good returns. First, understand the kind of investor you are. Are you a risk-taker and ready to throw a lot of money into an investment or would you rather take it slow? This is the only way to carefully consider different investments such as index or mutual funds. You only get your earnings when the stock you invest in appreciates in value or when you are issued dividends. The best way to know the company to invest in is by following trends on CMC markets.
Online Writing
This is a quick way to make money online. Websites are always looking for new content and are ready to pay well for good write-ups. You can start by joining an online writing platform. The other way would be to submit content to websites with revenue-sharing opportunities. They will give you a platform to post your write-ups where you receive ad revenue that is generated by your articles. The other would be to set up your blog, choose what to outsource and make extra cash.
Bonds
Bonds interest rates are greater than what is paid by banks on a savings account. If you are saving and don’t require the cash in the short-term, it will be of much benefit to invest in bonds to get a relatively better return with little risk. In fact, bonds can give an element of stability to any portfolio. They are safe and conservative investments too. They have a predictable stream of income and are great saving platforms when you are not comfortable putting your money at risk.
Precious Metals
Gold, in particular, is a major investment asset. Precious metals are, however, viewed as speculative since they tend to only respond positively to particular market conditions. They are closely linked to the movement of the dollar. When the dollar is weak, the metals gain, and when it is strong, they fall. Given that it is not easy to predict when the transition will happen, it is a good idea to secure some precious metals for the good market days.
Collectibles
This involves numismatic coins, antiques among other treasures. Here, you need to be careful and understand what you are buying and the resale value involved. Collectibles do not appreciate with time like is the case with other investments. The market is based on what a buyer is willing to pay for. Collectibles are like precious metals in that when the economy is weak, they tend to be profitable.
