Who doesn’t want to have a little extra money in their pay packet each month? Perhaps there’s a one-off purchase you’re hoping to make, maybe you’re saving for a holiday or you’re trying to reach that elusive house deposit – whatever your reasons, a little extra money each month can go a long way. Taking on extra shifts at work will certainly help, but if you have other responsibilities then it may not always be appropriate to spend even more time at work.
Investing may seem like a daunting prospect, but once you understand the fundamentals it can be one of the best ways to set yourself up for long-term financial success. The first step is to understand how to distinguish different types of investments and learning how to choose an investment fund that is suitable for you. Investments have different rates of returns and risk levels and can range from cash, bonds, stocks, mutual funds, alternative investments etc. Doing your research is critical to ensuring you have made the right decision and can be one of the best ways for you to make money in 2020.
Luckily, there are plenty of simple and straightforward ways you can earn a little extra this year. Read on for 6 ways to make more money in 2020.
Earn money with a cryptocurrency
Cryptocurrencies such as Bitcoin, are electronic currencies created and traded via the internet. There are several ways you can earn money with cryptocurrency, either by trading, investing or becoming a cryptocurrency miner. If you’re unfamiliar with Bitcoin and how it works then check out this guide on how to buy bitcoin for more information.
Online surveys
Want to make your opinion count? Did you know you can make money by filling out and completing online surveys for instant cash? You may even have the opportunity to try new products and review them for cash or for online rewards. It’s a modest earner, but every little helps when you’re trying to bulk out that pay packet.
Buy (and then sell) domain names
You can buy and register domain names or web addresses for less than a dollar. Find domain names that could have value in the future, snap them up and see if anyone wants to buy them from you in the future or list them for sale online.
Sell your photos
Think you have an eye for photography? If you’re a budding photographer and you think your images have monetary value, then consider uploading your images to stock image sites like Getty Images. Check out the website to see what kind of images they’ll consider or what might be popular. It’s worth bearing in mind that images of more obscure subjects may be worth more.
Work for a charity
We’re all familiar with the charity collectors who only ask for “a minute of your time”, as you walk down the high street. Believe it or not, you can earn plenty of extra money by signing up as a charity collector! You get paid by the hour or given a daily fee and some charities even offer commissions on new sign-ups. You’ll need a thick skin, and you need to be able to handle rejection pretty well!
Freelancing
Consider yourself good with words? Maybe your art degree or graphic design skills are going to waste? Or maybe you have a voice that’s perfect for online ads or audiobooks. There’s plenty of freelance work available out there and sites like Fiver are a great starting point for those looking to boost their income. You can work with clients here and abroad and as you get more and more commissions you may find yourself in demand!
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