munKNEE.com Your Key to Making Money
As the winter wave of the pandemic surges across the world….the economy is losing jobs again…[and] that makes this a good time to be topping off your emergency fund, just in case your budget takes a financial hit…
Below are 10 ways to boost your income — from money making to money saving.
1. Stop spending so much on debt
If you want to break free from high-interest debt from credit cards and personal loans your best bet is to take out a debt consolidation loan where you trade in all of your current debts — credit cards, loans, everything — for a single monthly payment at a lower interest rate.
Depending on how much interest you’re paying on your current debts, consolidating them with a service called Credible could save you thousands of dollars and help you become debt-free years sooner as Credible shows you quotes from all the lenders in your area willing to give you a loan which makes it easy for you to shop around and find the best rate. You can borrow up to $100,000 with no collateral at rates as low as 5.95%.
2. Switch to a high-deductible health plan and HSA
If you’re relatively healthy and your medical expenses generally don’t go beyond physicals and screenings, then a high-deductible health plan (your deductible is the amount you pay out of pocket before your insurance covers the rest) could save you money because the higher the deductible, the lower your premiums will be…
If you need help finding a high-deductible health insurance plan consider using this online service that will help you find the right policy at the lowest rates.
3. Save every time you shop online
If you do most of your shopping online download this free browser extension that will automatically find you deals and coupon codes every time you shop online. You also can set price-drop alerts for your favorite products, so if they go on sale you’ll be the first to know. Installation takes just a moment and could save you hundreds of dollars each year.
4. Slash the cost of your car insurance
If you aren’t shopping around for cheaper car insurance every six months, you could be throwing away more than $1,100 a year, according to one estimate. Here is an example of a websites that will do the shopping around for you and find you a better deal in three minutes. Just answer a few quick questions, and you’ll soon be sorting through quotes from hundreds of car insurers to find you the lowest price available for the coverage you currently have.
5. Play the market with free stock
…You might think that owning stock in a well-known company is out of reach but an app called Robinhood will let you buy pieces of companies (fractional shares) of stocks, options, exchange-traded funds (ETFs) and cryptocurrencies for as little as $1 — and when they profit, so can you.
Best of all, there are no fees and no commissions with Robinhood and, when you sign up, Robinhood will add one free share to your account — and there’s a chance it’ll be from Facebook, Apple or Microsoft.
6. Put your spare change to work
Another easy way to start investing in the stock market is by putting your spare change to work. Acorns offers micro-investing accounts that start at just a few dollars a month.
The “round-up” feature lets you invest the spare change that’s left over whenever you make a purchase so, for example, if you buy a coffee for $3.65, 35 cents will be added to your account. It may not seem like much, but over time that spare change can really add up and if you sign up using this special link, Acorns will add $10 to your account as soon as you make your first investment.
7. Get a payday from your old playthings
Some of your toys from the 1970s and ’80s could be worth hundreds of dollars — maybe even thousands — if you’ve kept them in good condition so maybe the time has finally come to say goodbye to them and list them online. Selling stuff on eBay is relatively simple (see here)…
8. Turn your clutter into cash
Trying to sell your old electronics, books, and movies online can be a chore, however, and you might make only a fraction of what your items are worth so check out Decluttr which our research has revealed pays up to 33% more than other buyback programs.
Decluttr is super easy to use. Just type in the specs of your old gadgets or use the Decluttr app to scan the barcodes on your books, video games and DVDs, and you’ll get a quote instantly. Then all you have to do is put your stuff in a box, stick on the free shipping label, and drop it off at the nearest UPS store. As soon as Decluttr gets your castoffs, you’ll be paid the next day via PayPal or direct deposit.
9. Turn your hobby into a lucrative side gig
Everybody’s got a hobby…[and you might be able to] use it to score some side gigs and supplement your income so go to the world’s largest online marketplace for digital services and see how easy it is…to get paid for doing what you love. You just create a profile describing what you bring to the table, and people will find you based on what they’re looking for.
10. Use artificial intelligence to find a better job
If your job hunt is coming up short it might be time to expand your search to positions that fall outside your field by using ZipRecruiter, a free online job board that uses artificial intelligence to match you with the best jobs from more than 8 million postings, based on your skills, education and experience. By broadening your search using ZipRecruiter, you may be able to find a career you didn’t even know you were qualified for.
Editor’s Note: The original article by Danielle Park, CFA, has been edited ([ ]) and abridged (…) above for the sake of clarity and brevity to ensure a fast and easy read. The authors’ views and conclusions are unaltered and no personal comments have been included to maintain the integrity of the original article. Furthermore, the views, conclusions and any recommendations offered in this article are not to be construed as an endorsement of such by the editor. Also note that this complete paragraph must be included in any re-posting to avoid copyright infringement.
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