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8 Ways to Maximize Your Income Research Team | Posted On Saturday, November 02,2019, 05:53 PM

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8 Ways to Maximize Your Income



8 Ways to Maximize Your Income:

Today many people are looking for ways to create or replace a full-time income.  Some people simply want to generate a little extra money to be able to save money for emergencies or keep money handy for impulsive purchases or extra expenses.

Previously people had to take a second job to supplement low income. But with the advancement of technology, you can start making money from the comfort of your home. You can now connect with your customers online or through websites that provide you with a platform to sell your services or skills.

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Take paid Surveys online:

Online surveys are an attractive way to earn some extra bucks. There are several websites that pay people for taking online surveys. You can occasionally use these sites to make some extra money when you have a cash crunch. Though these websites cannot be used to get a constant income they can surely help you to make some extra bucks.

Some of the paid survey websites in India are appkarma rewards, swagbucks, YouGov India etc.

See Also: Financial Planning for Youngsters

Sell used items online:

In the online market place, you can sell both old and new items. So you can opt to sell old items on websites like Amazon, OLX or eBay. If you want to auction some old furniture or musical instruments and you are unable to find a buyer then these websites help you find buyers and connect with them. You can sell these items if you want to downsize or do not want to sell products through retail channels. You can even sell handcrafted products, and art items through these websites.

Start a side business:

Today most of the people are looking to increase their income either by converting their hobbies into a business like yoga classes or baking classes. You can even consider them as side businesses if you have a full-time job.

The business requirement varies, but one can easily run and monitor such businesses to earn some extra bucks. You may also use your knowledge and skills and engage in side hustles like SEO work, online tutoring, graphic designing, logo designing or web development.

Everything boils down to your skills and time management capabilities. If you are confident about your capability then you can start your side hustle right away.

See Also: Basics of Financial Planning

Use Social Media to promote your products:

If you know how the media promotions work then you may set up your business online. The social media have become an important medium and many people want to establish their presence on social media. You can set up your own account on social media and promote your products or you may also help your clients manage their social media accounts.

If you are interested to sell products you can also enrol in apps like meesho that gives you a platform to display your items. Once you start drawing the interest of your customers you can use the platform to generate good income. You can also use social media platforms to bring home a supplement income along with your main income.

Rent your second home:

With various businesses like OYO and Airbnb thriving in the Indian market vacation rental is in vogue now. If you have a second home then you can list your home on the Airbnb website. You may also opt for other companies that manage the entire process for you.

However, this may take some effort on your part too. But you can make some attractive sum depending on the location of your home.

See Also: Financial Planning For Women

Play video games on Twitch:

Online video games are another great way to earn some bucks. You will find a list of games that you can play on these websites.  You can stream your gameplay and also include voiceover services to encourage people to subscribe to your channel. You will be compensated through online advertisements, donations, sponsorships etc. There are some very popular Indian game streamers who are earning good bucks through online gaming.

Create tutorials on websites and youtube:

You can make extraordinary money and reach a star status by making informative videos on you tube. You can post these videos on youtube and build up your channel slowly. For every million views, you can expect to make significant money. You can work solo or with a team to make your videos.

You may also create tutorials and post them on youtube if you believe you have the knowledge and you can enlighten the audience. The process takes time and success may not come overnight.

See Also: Financial Planning for Teachers

Monetize a website:

If you are passionate about writing and you have the ability to engage your readers and do not want to confine yourself in a 9 to 5 job then blogging is one of the best options for you. People with a regular job can also take up blogging and earn some money.

Though setting up a blog is not easy, it gives you the freedom to express your opinions and influence people all around the world.  Some Indian bloggers have even established their careers in blogging. Some successful bloggers in India are Harsh Agarwal, Pritam Nagrale, Shraddha Sharma who generate huge revenue through blogging.

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