Money Opportunities You Can’t Ignore
Want to earn more? Save more? Increase your cash flow? Turns out there are a lot of money deals out there that most people aren’t taking advantage of. Here are a few money-making opportunities that you can’t ignore:
The CD Ladder
Investments are a great way to grow your money quickly, but some investments come with a few risks. If you’re investing in the stock market, you run the risk of losing everything; if you’re investing in something like a Roth IRAs, you have to put your money away for a long period of time. If you’re like most people, you can’t afford to let your money go away for too long; you’re going to need it for an upcoming major expense like school tuition or car repairs.
That’s where the CD ladder comes in. By building a CD ladder, which is actually a series of CD investments that are staggered to come due at regular intervals, you take advantage of a safe, 100% guaranteed investment while still getting money when you need it. If you don’t need the money right away, you put it back into the ladder to earn even more money for you.
Try this CD ladder calculator to see just how much money you could earn by putting your cash into CDs. Once you see how much of a money deal this plan is, you’ll be ready to jump right in.
The Online Savings Account
Where does your money go when it hits your bank account? Are you just letting it sit around in a checking account? If you aren’t taking advantage of a highate online savings account, you’re losing money.
Online savings accounts can give you higher rates than brick-and-mortar savings accounts, because the banks are able to save money on overhead and pass those savings along to you. They’re also great ways for you to save your cash and grow your stash. The info page for Discover Bank online savings account notes: “Whether you’re putting money aside for a rainy day or saving up for something special, an online savings account pays a great savings rate with convenient access.”
Coupons and Groupons
This site is chock-full of money opportunities that are hard to ignore. Just a quick perusal over the options reveals that you can get significant discounts on cruises, gifts, spa treatments, and hotels. As with any coupon deal, make sure it is something that you really want, that fits into your budget, and that you are planning to use — otherwise, “spending money to save money” is just plain old spending money. But if you’re planning a vacation for next summer, a cruise discount combined with a hotel discount adds up to a pretty significant money deal.
The Passive Income Side Hustle
What’s passive income? It’s a way of earning money without having to do any work. To be fair, a lot of passive income plans take a little bit of setup, but once they’re in place, they begin earning you money literally as you sleep.
One of the most common ways to earn passive income is by buying a rental property. Once you become a landlord, you earn money every month above and beyond the cost of maintaining your rental home.
Another common way of earning passive income is to create a website and then sell advertising space on the site. If you’re blogging right now and not including ads on your site, you’re leaving money on the table.
It’s also possible to earn passive income by creating a basic information product, such as a how-to guide, and then selling it online. If your product is a PDF, for example, it costs nothing to distribute and makes you money every time it is sold.
Check out lists of how to make passive income and see if any of these money-making opportunities fit into your life.
The Problem-Solving Opportunity
I’ll leave you with this story, from Lifehack.org. A professor asked his students how much money they could make, starting with only five dollars. Their responses surprised him:
“They ramped up their observation skills, tapped into their talents, and unlocked their creativity to identify problems in their midst—problems they experienced or noticed other
s experiencing—problems they might have seen before but had never thought to solve. These problems were nagging but not necessarily at the forefront of anyone’s mind. By unearthing these problems and then working to solve them, the winning teams brought in over $600, and the average return on the five dollar investment was 4,000 percent! If you take into account that many of the teams didn’t use the funds at all, then their financial returns were infinite.”
When you take advantage of opportunities around you, you can earn infinite financial rewards.