4 Tips To Make Super Easy Money
Who doesn’t want to make easy money?! Nothing beats earning easy money while literally doing nothing at all but what you were already doing! It’s allowed me financial freedom to buy baby items when we were pregnant with our daughter, to covering unexpected bills. We even bought furniture using the funds! The list I made below ONLY include items that literally require no real work on your part. It’s things that will add value to your situation by utilizing something you’re likely already doing!
Here are some tips on how to make easy money!
1. Use credit cards with points
I use a Collabria choice rewards MasterCard, this is by far my favorite to make easy money. I get so many points for every dollar I spend. Now, I would be careful with using this approach. It’s very important to stay on top of spending and paying the card off to ensure your spending strategy is still in line. I put purchases within my spending strategy on my MasterCard and try to pay off weekly just to keep things on track. The worst thing you can do is not stay on top of paying off your card, interest rates are expensive! It can also be an easy way to get caught in debt. But that is why you just need to ensure it’s paid off at least monthly. I have literally earned a couple thousand in the last two years by just utilizing my MasterCard for my every day purchases! One last thing I would say about this approach, is be careful on how many credit cards you have. That is an easy way to lose track of spending, I only use one credit card!
2. E-Bates
If you were going to shop anyways, why not use something that will literally give you money back just to shop through them? It’s an easy way to get money in your pocket while spending money you were going to spend anyways!
3. High interest savings account
This one is coming from my financial advisor background. We all need an emergency fund, why not have it parked in a high interest savings account? These accounts aren’t typically to be use frequently but since it’s emergency funds, you won’t really be accessing it anyways! The interest rates on these accounts certainly aren’t what they used to be. When I first started working at the Credit Union they were around 3%, now you’re lucky if you’re over 1%. But anything is better then 0%, and if it amounts to at least affording you a couple free coffee’s, why not?
4. Invest NOW!
This one is also coming from my financial advisor background. But there are more people out there then I’d care to admit that just keep their funds in their chequing or basic savings accounts. Don’t get me wrong, it’s fantastic to save, but there are better places to put those funds. If you are saving money for longer term and emergency funds are already in place, go speak to someone about options to make sure you’re getting best bang for your buck. So many people have “lazy” money that could literally be making money.
A great example of this would be someone putting money aside for retirement. Which the intended use is for something long term (for most!), so you’ve got time to let your money work for you. It doesn’t cost anything to speak to a financial advisor to better learn your options. Consider this! Let’s assume you invest $10,000 for 10 years. You earn 4% rate of return on the investment and we will say you contribute $650/year or $25/bi-weekly. You’re investment would be worth $22,600, which only actually requires $16,500 of your own money. Talk about an easy way to get your money earning you money. Definitely worth looking into! I’ll link my next post here, it will expand on this and will blow your mind!
That’s it. Four easy ways to earn hundreds or even a thousand or two a year!
These are all things I’m currently doing to make easy money off of things I was already doing. By far my favorite one is my MasterCard since it has a quicker payoff and even been a substantial enough amount to make larger purchases. The amount of our own money we had to spend on baby items was cut in half at least. Not to mention paying for our down-filled sectional couch! I hope you find these useful and are able to incorporate one or two into things you’re already doing. I’d love to hear what you do and what works for you!
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