How can working people boost their spendable income to stave off inflation and the uncertainties of a volatile world economy? There are plenty of solutions to this age-old dilemma in the digital era. Besides taking on a micro job, which means working about five extra hours per week, consider adding rental property shares to your investment portfolio. Other strategies that have the potential to add to your bottom line and give you more fiscal breathing room include selling off unneeded personal goods and leveraging the power of coupon and cashback shopping sites to save on every purchase. Of course, there's no single technique that works for everyone, but the following are excellent starting points.
Find a Micro Job
Sometimes, the fastest route to more income is a micro or part-time job. The terminology is relatively new, but micro tends to refer to jobs that take fewer than 10 hours of your time per week. More than that, and you're in the part-time range. The best micro jobs are online tasks that include tutoring, taking surveys, reviewing websites, and supplying written content for blogs and advertisements. Be careful not to sign contracts or pay for special training, as many scam sites will ask you to do.
Consider Buying Property Shares
Do you want the benefits of real estate ownership without the downsides? If so, consider investing in rental property shares. You won't have to pay a considerable sum to purchase an individual house. However, you'll still participate in price appreciation and get most of the tax advantages of traditional real estate investing. When you buy shares of properties, you never have to deal with day-to-day operations. That means not dealing with tenants, maintenance jobs, or other ownership responsibilities. To get started, learn the basics about how the process works and how to invest in REITs (real estate investment trusts), a special company with the potential of tax benefits that can own, operate, or finance real estate.
Sell Everything You Don't Need
Sell everything you no longer need for a one-time burst of cash income. Include intangibles like life insurance coverage you don't want, underperforming stocks that have been sitting in a portfolio for years, and other paper based assets. This can also be a sneaky way to be more ecofriendly and embrace a more minimalistic lifestyle. Be sure to clean out attics, basements, garages, storage compartments, porches, closets, extra bedrooms, and other spots where stuff tends to accumulate. Make four piles for what you find. Label them recycle, sell, give to charity, throw into the trash. Then, use the big online auction and sales sites to move merchandise for sale. For huge items, hold a garage sale.
Use Coupon and Cashback Sites
Find a coupon or shopping cashback site that pays you to use a particular app or purchase goods via their online store connection. Many reputable companies that operate such businesses can help consumers save as much as $1,000 annually just by paying through their app or sending photos of your receipts after each purchase. Stick with the big cashback merchants, all of whom are well reviewed on social media and consumer websites. The most profitable ones offer up to five percent back on everyday grocery and household items. Plus, you can earn more when you buy big ticket items from their designated retail partners.
