How to Get Money Without Working

Wouldn't it be great if you could get money without working? While there's no surefire way to strike it rich without working, there are certain ways to raise funds for yourself with very little or no effort on your part. If you have some money to invest or are willing to put some effort into your next money-making endeavour, you'll have a much better chance of consistently making money without a traditional job.

Method 1 - Making Money in Non-Traditional Ways

1.Rent out a room in your house. If you have a room (or rooms) that are going unused in your house, consider furnishing them and renting them out to tenants. If you do so, be sure to abide by the laws that govern landlords in your local area with regards to rent levels, amenities, and the like. Doing this allows you to collect a sizable check every month without any work beyond preparing the room for occupancy.

2.Make money online. There are tons of ways to make money on the internet nowadays, but most of them require at least a little bit of work. If you commit yourself to developing your brand, you might really hit it big.

3.Earn royalties. If you're willing to do a lot of work upfront for long-term payments, you might consider applying yourself to writing a book or a song or inventing a product. Your chances of hitting it big are small, but if your creation becomes popular, you can keep earning income from your work without having to do anything else.

4.Get paid for short-term jobs. If you don't like the idea of a regular job, but you are willing to spend a few hours a day working online or visiting different locations around town, you might be able to make a fair amount of money. Before signing up for any job, make sure you understand exactly how you will be paid.

5.Sell stuff. If you have unused items, you can try selling them on sites like eBay, Amazon, or Craigslist. If you're crafty, you might want to consider selling your homemade items on Etsy or a similar platform.

6.Beg or panhandle. When all else fails, you always have the option of simply asking for money. If you do this, you'll probably want to do it on a busy street or some other safe public place that receives plenty of pedestrian or car traffic. You might actually be able to make a decent living by panhandling, although it will require many hours of your time in potentially unfavourable weather conditions.

Method 2 - Making Money from Money You Already Have

1.Become a moneylender. If you already have some extra cash on hand, you can earn even more by lending it out and charging interest on your loans. There are many companies, the largest of which are Prosper and Lending Club, that match prospective lenders with prospective borrowers. Although the industry has been shifting away from private investors, there are still opportunities to be had.

2.Earn interest. Instead of letting the money you have languished in checking account (or under your mattress), put it into an interest-earning account, like a money-market account, a certificate of deposit (CD) account, or a 401k. These types of accounts pay a higher rate of interest than normal savings accounts. Ask a professional at your local bank for help placing money in these types of accounts.

3.Invest in the stock market. One way to make money without working is to play the stock market to your advantage. Stock trading is by no means risk-free, but if you're smart, careful, and a little lucky, you can stand to make lots of money on the stock market. Whatever investments you choose to make, never invest any money in the stock market that you can't stand to lose.

4.Invest in a business. Investing in a successful business is a surefire way to become wealthy, although finding such a company is more challenging. If you are lucky enough to find a business that you really believe in, make sure to do your research before investing.

5.Flip real estate. "House flipping" refers to the process of buying cheap, run-down property, increasing its value (either by adding improvements or simply by waiting for the market to perk up), and then re-selling it for a profit. With smart choices and practical know-how with regards to home repair, you can stand to make thousands of dollars per flip, although unexpected expenses and a bad real estate market can leave you in the red.

Method 3 - Borrowing Money 

1.Get a payday loan. If you already have a job, but you need some extra cash before your next payday, you may benefit from a payday loan. These are short-term loans that are offered for relatively small sums of money, either online or at brick and mortar locations.

2.Take a cash advance on your credit card. Many credit card companies will send you checks in the mail that you can write for cash or give you the option of withdrawing money from an ATM using your credit card. Like payday loans, cash advances typically come with high interest rates, which makes them a costly option.

3.Get a bank loan. Banks and credit unions offer a wide variety of loan products. Some loans, like home equity loans, require you to offer your personal assets as collateral if you are not able to repay the loan. If you do not have a home or other assets, you may still be able to qualify for a personal loan, depending on your financial circumstances.

4.Borrow from friends or family. Borrowing money from people you care about can be complicated because your relationship may be at risk if you can't pay the money back. If you choose to borrow from friends or family, be sure, to be honest with them about how long it will take you to pay them back.

Method 4 - Getting Money With No Effort

1.Inherit money. If you have a wealthy, elderly relative, you may receive money when the time comes to read his or her will. Of course, if your relative regards you fondly, s/he is more likely to write you into the will, so try to stay on your elderly relatives' good sides. Hopefully, this goes without saying, as treating the elderly with love and respect solely in an attempt to get their money is obviously incredibly cruel and cynical.

2.Win the lottery. Lottery tickets generally cost just a few dollars and are available at most grocery and convenience stores, so this is one of the cheapest, least work-intensive ways of making money. However, you're much more likely to lose money by playing the lottery than to win a big prize.

3.Win a contest. Much like the lottery, a contest or sweepstakes can completely change your life overnight. Your chances of winning are not very high, but it does happen. The more contests you enter, the more likely you are to win money and other valuable prizes.

 

source:wikiHow

 

 

Published on: 4/5/18 8:07 AM