3 Simple Ways To Make Money To Invest
There are strategies that can be employed to make your investment portfolio grow, that don’t require you to set aside money from your paychecks. These methods vary and some are simpler than others, but they can all be done with some work. The first group of ways is extremely simple. Just by living you can take this money and invest it in your portfolio.
1. Cash back and promo codes
Cash back apps and promo codes are extremely popular right now. I use these to add to my portfolio. However, you must avoid the trap of shopping for what you don’t need and buying something just because it’s on sale. There are plenty of options here that you can take advantage of.
Ebates is a portal to shop through where you can earn cash back, and even double cash back on your purchases. All the major retail brands you can think of are here. Earn up to 5% on Amazon, $20 cash back from Hello Fresh. It’s really a no brainer. But like I said, remain disciplined. Don’t get wrapped up in LOOKING for deals for products you don’t need. Track the money in the cash back dashboard, deposit that into your bank to send to your investment broker.Sign up for Ebates
Dosh is a very similar cash back app to Ebates. Earn money back when you use Dosh to purchase goods online. Another way to build more “savings” to invest.Join Dosh
Honey is an amazing extension for your browser that finds promo codes and deals for whatever site you happen to be shopping on. Using the extension will also earn you Honey Gold which you can redeem for gift cards. Using the gift cards to buy things you need (food for example) frees up that money in your budget to invest.Join Honey
Cash back debit and credit cards
If you’re disciplined enough, these are tools that can be used to increase your portfolio too. For regular expenditures like gas, public transportation, food, etc, cash back cards can put money right back in your pocket.
These cash back apps and sites expect you as a consumer to overspend and get carried away shopping. They know most people will do that. The trick is to only…and ONLY buy what’s needed.
2. Start Your Online Business Or Side Hustle
Starting an online business or a side hustle is a little bit more difficult and will take more work than simple cash back apps. This will lead you in the right direction: Why You Need To Start An Online Business Today. Starting your own business to invest more money to build your nest egg quicker is the best thing you can do. I’ve practiced this for years. Every endeavor that’s not profitable, I abandon. Simple as that.
Some websites have been successful, some campaigns have been successful (online and off) I stick with what works and throw away the rest. Read that article and find out if you have what it takes to earn via business or side hustle.
3. Sell Stuff Or Give To Charity
Cleaning out your closet and getting rid of things you don’t need is good feng shui. Keeps the energy flowing, but it also can earn you extra cash to invest. Have old shoes? Clothes? Sell them. Ebay and a host of other places allow you to sell things and earn.
Giving away old possessions to charity is a way to lower your tax burden, which gives you more money. Sometimes giving your stuff to a 501(c)3 is a better route depending on how much money you make already. Maybe you don’t want the extra earnings and want tax relief instead.
These 3 easy steps will help you grow your investment portfolio. Have any other methods or suggestions? List below.
Bonus : Acorns
Acorns connects to your bank account and/or debit card, what this company does is rounds up or down to every dollar and takes the difference to invest in an index fund. So for example you spend $2.60 on a drink, Acorns will take the $0.40 difference to the nearest whole dollar number which is $3, and then invest that for you.
So over time you accumulate more and more in your acorns account. You can choose from growth, dividend, and conservative strategies, with more to come.
Acorns Sign Up