Do you want to make money without leaving your job but you don’t know where to start? If we learned something from the economic crisis of 2008, it is necessary to generate as many sources of income as possible . To avoid scares in the next crisis, we give you three proven ideas to make money without leaving your job.
You can earn money without leaving your job and we explain how to do it
Sell own products or services
The first way to earn money without leaving your job is to sell your own products or services. With the products it is more complicated since if they are their own you will have to create them and that implies time and money to start. If these two variables are a problem for you then you should choose to sell your services.
Stop to think about what things you are really good and you differ from others . You speak several languages? Is your writing ability amazing? Are you able to create a web page in a couple of afternoons? Reflect on what your true talent is and if you could exploit it to generate a profit.
It is important that you lean towards a sector with good demand . The competition (offer) should give you a bit the same. The really important thing is that there are people demanding the service you offer. In the case of languages, writing or web design, for example, the demand is high and is expected to continue growing. This is good news for those who have those skills.
Sell other people’s products or services
If you don’t want to bother producing and selling something of your own, you can sell what other people have created in exchange for a commission . Selling third-party products or services is more convenient and simple than selling your own . You can do it physically, as it has been done a lifetime, or online. In the second case you can access millions of potential buyers.
Affiliate marketing is a type of marketing that allows you to earn a commission by promoting other people’s products or services. Its main advantage is that you don’t have to create anything, just promote what others have created . Nor do you have to give support, since that is what the company that markets the product takes care of, and also the risk you assume is zero.
But all that glitters is not gold. The commission for selling something that is not yours cannot be compared to the benefit of the sale itself , so you will need to sell in greater quantity. On the other hand, those customers you sell to are not your customers, so it will be more difficult to retain them.
The third way to earn money without leaving your job is to invest the money you already have and get a return for it . It is the most passive method of all: you invest and, to some extent, you forget about the investment and let the money work alone generating more money. The problem is that to invest you have to have money and if you do not have it you are committed to leverage, with all the risks that it entails (which are not precisely few).
Investment alternatives there are as many as types of investors . From the typical investment funds sold by any bank to index funds managed automatically by roboadvisors. You can also invest in startups, crowdfunding, crowdlending, real estate, cryptocurrencies, gold.
Of the three options analyzed to make money the investment is the best of all: passive, without headaches, scalable and being able to benefit from compound interest strategies . However, we only recommend that you invest if you have money left over, that is, if you do not have debts and have savings. Debt to invest is not smart. Better cancel the debt before.