How to make money during quarantine ??
Quarantine’s been around for about 6 months now and a lot of people lost their jobs and a lot of people salary reductions need to make more money to live.
First let’s take a look at some ways that people invest their money and why do the rich keep getting richer during these times.
1- Paycheck to Paycheck
A lot of people worry mostly about paying their dues and mostly spend their salaries on expenses like the monthly rent for their apartment or the electricity bill which can sometimes be a big one if the person is using a lot of electrical equipment. These expenses are what drains their salaries and the same cycle goes on for the next month and the months after that and keeps going on until the end of their life. Most people who live this way end up broke sleeping on a couch in a 40 sq.m apartment struggling to pay its rent.
2- Just Needs
Many people spend their money on just what they need and save what’s remaining from their money. This helps when they retire because they have a good amount after the end of their jobs if they didn’t have to spend their savings because a family member is sick or something relevant. These guys end up in a 130 sq.m apartment which they put all their investments into and don’t have to pay rent because they own it.
3- Investments
It’s rare that someone can take the risk and invest their money in stock or real estate because a lot of people think that there’s a big risk that they are going to lose their money but that’s not the case when people invest their money in rare cars that increase in values but that’s not going to happen unless people take the risk because investment is all about the risk otherwise Jeff Bezos wouldn’t have become a 190 Billion $ man or Mackenzie Bezos wouldn’t have become a 64 Billion $ woman and every single one of the richest people in the world wouldn’t have existed.
Now that you’ve took a look at the ways that people invest their money let me introduce you to some ways that you can make good money.
1- Investing
Investing in stock is one of the most popular ways to invest money and a lot of people became rich because of it.
One way to get rich is yo actually invest in stock that fluctuates a lot in value and to aim for when it loses value and invest at that time because you know that it will increase in value at some point in the near future and sell the stock you own when its value peaks so you’ll gain the most. The stock loses value most will gain you the most. That’s the concept that you want to follow when investing in stock.
2- Reinvesting
I know this looks weird but a lot of people invest and pay all their profits into expenses which will cost them a lot. The concept here is to invest the profits you gain back into whatever you were investing in and that will gain you more money and repeat the cycle so you’d gain more and more as time goes on.
These are some ways to make side money but what if you need instant money.
1- Online writing
This has grown in popularity lately as it’s easy gains money and people don’t have to work from 9 to 5 in order to gain 2000 $ at the end of the month.
2- Small investments
A lot of cheap stock is available online and many people invest in this cheap stock because they know it’s going to take off and become worth thousands of dollars at some point in time but it can gain quite a good amount of money if you need some instant money just about enough to live and invest in it again.
3- Trading
You can buy cheap retail products and sell them through an online trading site like Amazon or any other online trading site that you know and the best thing is you get to put the price tag for whatever you’re selling and that sometimes helps when it comes sales. The only thing you’ll have to remember is to buy you retail stock in bulk.
These are three ways that you can gain money during this horrible time. Just check the expiration date of you debit card, link it and and you’ll be ready to invest, gain money and live your life.
