We are all out here to make money and there are plenty of ways to make money. Too many, in fact but even with the multitude of ways to earn, all of us are still not millionaires.
Why is that? Probably because not all of us know which ones earn us the biggest and we don't know how to save or invest to grow our money.
Personally I am not the best saver yet but I am doing my best at it while investing a little bit of what I earn too. It may be bad practice for some because, I don't have much savings at all! What a shocker. 😅 I keep doing the 52 wk challenge and never get to finish it. Ah well...
In order to be financially stable, it all comes down to three sources:1. Jobs
3. Savings & Investments
What are the 7 Main Ways to Earn Money?
Let me list down the many ways we can earn money.
1. Get a job.
2. Start a business.
3. Do Freelancing Gigs
4. Join Get-Paid-to-Do-Something Sites/Apps
5. Buy and Sell
6. Have Sources of Passive Income
7. Get into Trading
1 Get a Job.Yes, for most of us common people this is where we earn our money after years of being in school. We study for more than a decade to become employees or to serve the country and the people by being doctors, nurses, teachers, soldiers, architects, engineers, lawyers, etc.
This to me seems like the easiest way to earn money. The typical office worker goes to work for 8 hrs a day, 5 days a week and get paid bi-monthly (or however you are paid).
On top of that you get employee benefits and all that. 13th month pay anyone? 😅
2 Start a business
Once we have saved and earned enough money from our jobs, some people are then able to put up businesses.
Others go straight into business after graduating from business school or whichever professional course they graduated from.
Starting a business has it's own pros and cons. You'd have to decide on what business to put up, register to government agencies and then maybe hire employees, etc. From employee you now become the employer. Or from graduate you go straight to freelancer then employer.
It's a whole different ball game when you have your own business. At the start, you'd be your own product sourcer, marketer, promoter, content creator, producer, everything! Or you get into business with a partner/s. If it becomes successful then wow congratulations! If not, maybe you can try again. 😅
You can start simple like buy from farmers and process the food into something else. Maybe buy sacks of flour and then make lots of cake, for example, if you have a bakery. You can buy fish from fishermen or hire them and then turn everything they catch into canned products like sardines or something else. Then sell them in bazaars or the local market.
Understand that everything is hard in the beginning, so if you will do business, you have to really be committed to doing it long term.
3 Do Freelancing Gigs
If let's say, you're not into having your own business you can choose to go the freelancing route instead. Offer your services for a fee.
If you can combine your job with some freelancing side gigs, go ahead! Work work work!
You can be a freelance writer, graphic designer, singer, events host, personal assistant, etc. Whatever your skills and education are, you can put it to good use by offering your services for a fee.
This one entails it's own pros and cons. You have to market yourself properly and look for clients, etc. You can join service websites like Fiverr to get clients too.
Being a freelancer can eventually also lead you to putting up your own business or company.
4 Join Get-Paid-to-Do-Something Sites/Apps
Now this one I am all too familiar after the world wide web came into existence.
Get paid to write or create contentBitlanders and Steemit is the perfect example of pay to write/create content sites. You need to create original content in order to get paid something. Bitlanders pays in $$$ via PayPal while Steemit can vary from cents to various amounts when converted to fiat. It depends on the current value once Steem/SBD is converted to your currency.
Get paid to answer surveysSurvey sites like AIP or Toluna also pay you based on the surveys you answer. I've gotten some gift checks and PayPal payments from both but I'm not much into doing surveys all the time.
Get paid to watch ads
Haven't tried this yet but I think there are plenty of it out there. Do your research. 😊
Get paid to do tasks
This is where Spare 5 and other sites come in. Do simple online tasks to earn some $$$.
5 Buy and Sell
So you don't have a job, and you don't have a business or freelancing gig, well what are you doing with your life then? Have you tried buying something and selling it to someone who needs it?
What's that? You don't know how to sell? It's simple, find someone who needs something and produce/provide/find it and sell it for a fixed amount. Sounds easy? Yeah it does sound too easy. 😂
My gripe at being a seller is sometimes people don't always buy what they need even if they are dying from the lack of it. There are times I just don't understand other people who want to be duped into buying what they need before they even see the value of the product/service. Explaining and educating them abt the product will not make everyone see the value of it now unless they finally get desperate and realize the need when it's too late. Phoooey. I'm no exception to that when it comes to certain products or services. It's just how we humans are. If we lack foresight then good luck! 😂
Anyway, one way of buying and selling is you can buy cheap items people are selling in garage sales and sell them at a higher price online. How about buying a pair of poodles and then selling the puppies they make? It's up to you what you'd like to buy and then sell.
These days yoays you can easily sell pr online more than anywhere else. But of course it's easier to sell when you also have a physical store people can go to. That's where the business side of this comes in.
By the way, have you ever heard of direct selling like Avon and Natasha? Being a distributor of products can also be buying and selling.
How about selling on eBay and putting up online stores or building an e-commerce business? See what I did there? All of these can be connected if we really want to make money.
Work work work! whiplash 😂
6 Have Sources of Passive Income
Hah, now this is where it all gets jumbled in my head. There are a lot of ways to earn passive income but you have to learn a lot and set it up properly before you do it.
I'm not one to just get into something without researching about it first. Not because someone recommends something means I will sign up immediately. It takes time to know what I'm getting into. Yeah yeah, blablabla, let me just get into it.
There are many experts out there who can classify these better. I might be mixing things up in here but here's a few sources of passive income I know about:
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