by Thrifty Guardian | Your Money
The ever-fluctuating housing market has been the topic of speculation for decades. Financial experts, economists, and even regular home buyers often wonder about the stability of this sector. While it’s impossible to predict the future with certainty, there are certain signs that can provide clues. Here, we’ll explore key indicators – some suggesting a crash and others hinting at continued stability.
#1. Rising Interest Rates → Crash
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If central banks increase interest rates, it can make mortgages more expensive, leading to decreased demand for houses and potentially a drop in prices.
#2. Overvaluation → Crash
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When house prices surpass what’s sustainable by income levels, it might indicate a looming bubble.
#3. High Levels of Debt → Crash
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Consumers overleveraged with debt, especially mortgages, might default with a slight economic downturn.
#4. Speculative Buying → Crash
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An abundance of people buying homes to flip for a quick profit is a sign of an overheated market.
#5. Deterioration in Home Affordability → Crash
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If the majority can’t afford homes based on their income, demand might decrease.
#6. Influx of “Easy” Money → Crash
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Too much capital chasing too few homes can inflate prices beyond sustainable levels.
#7. Declining Construction → Crash
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A consistent fall in new home construction might indicate that builders are anticipating lower demand.
#8. Changes in Tax Policy → Crash
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Governments removing or reducing property tax deductions or other housing benefits can impact buyer enthusiasm.
#9. Steady Economic Growth → Boom
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A thriving overall economy with abundant jobs can lead people to buy homes, supporting housing prices.
#10. Limited Housing Supply → Boom
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Low housing inventory compared to demand can keep prices stable or rising.
#11. Strict Lending Standards → Boom
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Tightened post-2008 lending standards make it harder for high-risk buyers to get mortgages.
#12. Strong Rental Market → Boom
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A robust demand for rentals offers homeowners a safety net, as they can rent out.
#13. Population Growth → Boom
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A continuous increase, especially in urban areas, can keep the demand for housing high.
#14. Government Support → Boom
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Programs that back homeownership, like tax incentives, can sustain demand.
#15. Stable Global Economy
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Foreign investments, especially in premier cities, can bolster the housing market.
In the complex dance of economic factors, the housing market’s fate lies in a delicate balance. While we’ve outlined some signals here, it’s essential to recognize their interplay and the broader geopolitical scenario. Investing in real estate requires careful consideration, due diligence, and sometimes, a bit of luck. Stay informed, stay alert, and make decisions tailored to your individual situation.
The post Beware of These Housing Market Warning Signs first appeared on Thrifty Guardian.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
For transparency, this content was partly developed with AI assistance and carefully curated by an experienced editor to be informative and ensure accuracy.
by Thrifty Guardian | Your Money
According to news reports, the U.S. job market is robust, and employers are desperate for workers. Despite these claims, many people, especially those over 60, struggle to find employment. Being a mature jobseeker doesn’t mean being automatically excluded from the workforce. There are several things experienced workers can do to land their ideal position. People offered tips on landing jobs for workers of a certain age, and their advice is worth noting.
#1. Prioritize Your Job Search
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Looking for a new career isn’t easy, so your job search should be considered a full-time occupation. Each day, prepare yourself as if you already had a job – get dressed, fix your hair, have breakfast, etc. – then start hitting the job boards. It may take a few months or longer before landing your first interview, but think of this time as an investment in yourself, and you can’t put a price tag on that.
#2. Become a Consultant
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Becoming a consultant is one of the best ways to leverage your knowledge and experience. Create a name for your consulting company and register as the only member of a limited liability company (LLC) with the Internal Revenue Service (IRS). You can seek contracts with private companies, non-profit organizations, or government agencies. Consulting work can also lead to full-time employment.
#3. Look for Government Jobs
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Jobseekers with years of professional experience shouldn’t limit their search to the private sector. Open jobs are abundant in all levels of government, including city, county, state, and federal entities. Workers of all backgrounds can find an occupation that suits them. Some of the many upsides to a government job are stability, paid holidays, and generous pensions.
#4. Apply for a Postal Job
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One type of government job that is in high demand and provides job security, excellent wages, and benefits is working for the U.S. Postal Service. If the thought of being a mail carrier doesn’t appeal to you, don’t worry. There are available positions that don’t involve being out in the elements. You can find work in sorting, handling, sales, service, driving, and mechanical.
#5. Network, Network, Network
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One of the best tools out there for finding another career is to network. Contact people you know professionally or personally to ask if they know of any current or upcoming job openings with their companies. LinkedIn is an ideal platform for connecting with other professionals and groups. You’ll only know what opportunity is out there if you ask first!
#6. Work on a Freelance Basis
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Freelancing is a great income source, especially while seeking a full-time job. There are websites with postings of available freelance jobs and platforms for freelance workers to offer their services, like Upwork and Fiverr. When you work as a freelancer, you can set your schedule and work as little or as much as you want. If flexibility is important, freelancing may be the way to go.
#7. Sharpen Your Skills
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No matter your knowledge of a particular subject, there’s always room to learn more. Consider taking a free or low-cost online training course to develop a new skill or enhance your existing skills. Contact your local job center to see if you qualify for free training, especially if you’re a displaced worker. The additional education is a great addition to a resume.
#8. Start Part-time
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If there’s a company or organization you’d love to work for, consider working as a part-time employee. You won’t receive the full-time pay and benefits, but at least it gets your foot in the door. Use that part-time employment as a chance to show the company what you bring to the table. That can become the path to a full-time career if that’s what you’re looking for.
#9. Non-profit Work
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The non-profit sector isn’t traditionally known for having the highest salaries. Still, the work can be personally fulfilling and professionally rewarding. In addition, non-profit organizations generally have excellent benefits and more flexible employment terms like remote or hybrid work. If you’re willing to take a salary cut in exchange for career satisfaction, a career with a non-profit organization may be in the cards for you.
#10. Refresh Your Resume
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If you can’t remember the last time you updated your resume, it’s time to spruce it up. For starters, only include your relevant employment history from the previous ten years. Highlight your achievements with each employer, and don’t be afraid to sing your praises. You’re selling yourself to prospective employers to land a new career. It’s not the time to be shy.
#11. Get Career Counseling
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If you’re having difficulty finding a new job or don’t know where to start, seek career counseling and coaching services either in your area or online. Some of these programs are for mature job seekers. They can help update your resume, create or update your LinkedIn page, and help you prepare for job interviews. They can also assist you in creating a portfolio of your work if needed.
#12. Expand Your Horizons
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If your current or previous occupation is in one field, that doesn’t mean you’re limited to careers in that realm. Your experience and skills may be transferable to other career areas. Do your research, talk to others in the industries you’re interested in, see how your skills match potential careers, and apply. There’s no harm in taking a chance on something new.
#13. Be Tech Savvy
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Being a seasoned worker doesn’t mean you’re clueless regarding technology. Even if tech isn’t your strong suit, you can still learn the basics and work up from there. Familiarize yourself with software programs like Microsoft 365 and Adobe Creative Cloud. There are free online tutorials that teach you how to use them. You don’t have to be an expert-level user, but a basic knowledge of how they function can only help.
#14. Include Cover Letters
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Your resume may be complete with your skills and achievements, but cover letters are a wonderful opportunity to explain to a prospective employer why you are a good fit with their company and why they should hire you. Cover letters are also useful for including details not in your resume and describing how your experience fits a specific role within an organization.
#15. Be Confident
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Your extensive career experience is something to celebrate; you shouldn’t be afraid to let that light shine. You may not have the exact qualifications for the job you’re applying for, and that’s okay! If you go into the job searching and interviewing processes feeling confident in yourself and your abilities, that makes the best impression on hiring managers.
The post Strategies for Success Later in Your Career first appeared on Thrifty Guardian.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
by Thrifty Guardian | Your Money
As the cost of living continues to climb, managing your finances smartly is more critical than ever. Adopting frugal living habits can significantly cut down your expenses, paving the way for a more secure financial future. And you don’t have to sacrifice all of your little pleasures, either.
We’ve got 25 practical, frugal living tips that can potentially help you save thousands of dollars. It’s not about missing out. It’s about spending smart and making the most of what you have.
#1. Track Your Spending
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Understanding where your money goes is the first step in frugal living. Start by tracking your expenses for a month. Use a simple spreadsheet or a budgeting app to categorize your spending. This visibility will help you identify areas where you can cut back. Small changes, like eating out less or canceling unused subscriptions, can add up to significant savings over time.
#2. Create a Budget
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Once you know your spending habits, create a budget. Allocate funds for your necessities, savings, and a little for leisure. Stick to this budget diligently. A budget helps you control your spending and ensures you’re saving consistently. Remember, a budget isn’t about restriction and austerity, it’s about making your money work effectively for you.
#3. Embrace Meal Planning
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Meal planning is so good for saving money. Plan your meals for the week, make a shopping list, and stick to it. This approach reduces impulse buys and food waste. Cooking at home is generally cheaper than eating out, and with batch cooking, you can save both time and money.
#4. Shop with a List
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Always shop with a list, whether you’re at the grocery store or the mall. This helps you stay focused on what you need, avoiding unnecessary purchases. It’s easy to get tempted by sales and discounts, but if it’s not on your list, it’s not in your budget.
#5. Cut Down on Utilities
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Reducing your utility bills can lead to significant savings. Simple actions like turning off lights when not in use, fixing leaks, using energy-efficient appliances, and adjusting your thermostat can reduce your utility bills. Consider investing in smart home devices that help monitor and save energy.
#6. Use Public Transportation
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If possible, use public transportation instead of driving. It’s cheaper than fueling, maintaining, and insuring a car. Plus, it’s better for the environment. If public transport isn’t an option, consider carpooling or biking.
#7. Cancel Unnecessary Subscriptions
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Review all your subscriptions and memberships. Cancel anything you don’t use regularly. Many people pay for multiple streaming services, magazines, or gym memberships they rarely use. Cutting these can free up a significant amount of money each month. You’ll likely be surprised by just how many unused subscriptions you have.
#8. Buy Second-Hand
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Consider buying second-hand items for things like clothes, furniture, and electronics. Thrift stores, garage sales, and online marketplaces are treasure troves for good quality, pre-owned items at a fraction of the cost.
#9. DIY Home Repairs and Improvements
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Learn to do basic home repairs and improvements yourself. There are numerous tutorials online for everything from fixing a leaky faucet to painting a room. Doing it yourself can save you hundreds of dollars in professional fees.
#10. Grow Your Own Food
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If you have space, start a small vegetable garden. Growing your own food can be a rewarding and cost-effective hobby. Even a few pots of herbs or tomatoes can cut down your grocery bill. If space is limited, stick to growing more expensive fruits and veggies that you buy regularly.
#11. Use Coupons and Cashback Apps
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Take advantage of coupons and cashback apps for groceries and online shopping. These can provide significant savings over time. Be mindful to use coupons only for items you would normally buy.
#12. Reduce, Reuse, Recycle
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Adopt the mantra of reduce, reuse, recycle. Before buying new, see if you can repurpose something you already own. Recycling and reusing saves money and helps the environment.
#13. Avoid Impulse Buys
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Impulse buying can derail your budget. If you see something you want, wait a few days before purchasing. Often, the urge to buy will pass. If it’s something you truly need or want, plan for it and include it in your budget.
#14. Plan Vacations Wisely
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Traveling can be expensive, but with smart planning, you can enjoy vacations without breaking the bank. Look for off-season deals, stay in budget accommodations, and eat like a local. Planning your itinerary in advance can save both money and time.
#15. Practice Preventive Healthcare
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Investing in preventive healthcare can save money in the long run. Regular check-ups, a healthy diet, and exercise can prevent costly medical issues. Don’t neglect your health; medical bills can be one of the biggest unplanned expenses.
#16. Learn Basic Sewing
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Learning basic sewing skills can extend the life of your clothes. Simple repairs like fixing a torn seam or replacing a button are easy to do and can save you from buying new clothes prematurely.
#17. Use the Library
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Libraries are an underutilized resource. You can borrow books, magazines, and even movies for free. Many libraries also offer free workshops, classes, and events that can be both educational and entertaining.
#18. Host Potluck Dinners
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Instead of dining out, host potluck dinners with friends and family. It’s a cost-effective way to socialize and enjoy a variety of dishes. It also distributes the cost and effort of cooking among all attendees.
#19. Brew Your Own Coffee
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Brewing your own coffee at home instead of buying it daily can save you a surprising amount of money. Invest in a good coffee maker and discover the joy of a home-brewed cup.
#20. Shop Off-Season
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Buy clothes and other seasonal items off-season when they are on clearance. You can get high-quality items at a fraction of the cost. Plan ahead and buy winter clothes in the summer and vice versa.
#21. Automate Savings
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Set up an automatic transfer to your savings account each month. Treat it like a non-negotiable expense. This ensures you’re consistently saving without having to think about it.
#22. Downsize Your Home
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If your current living situation is more than you need, consider downsizing. A smaller home can reduce your mortgage, taxes, insurance, and maintenance costs. It’s a significant lifestyle change but can lead to substantial financial savings.
#23. Cook in Bulk
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Cooking in bulk and freezing meals for later can save both time and money. It reduces the temptation to eat out and ensures you always have a home-cooked meal ready. It’s also a great way to take advantage of bulk buying and sales.
#24. Barter Services
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Consider bartering services with friends or neighbors. For example, if you’re good at gardening, you could offer to take care of a neighbor’s garden in exchange for them helping you with something they’re skilled at, like carpentry.
#25. Unplug Electronics
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Unplug electronics when they’re not in use. Many devices consume power even when turned off. Unplugging them can reduce your electricity bill and also helps to protect your devices from power surges.
The post Dodging Budget Blunders to Keep Your Finances Secure first appeared on Thrifty Guardian.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
by Thrifty Guardian | Your Money
Who wouldn’t love earning money with minimal effort? Imagine making an income while you sleep, travel, or enjoy your hobbies. It sounds too good to be true, but there are indeed ways to set up streams of income that require little to no daily effort once they’re established.
Sure, they might need some initial setup and a bit of maintenance, but imagine the potential! If you’re curious about turning your downtime into profitable time, we’ve got some smart options for you. From savvy investments to online ventures, discover how a bit of initial hard work and some strategic planning can lead to lasting passive income.
#1. Get Paid for Sleeping and Testing Beds
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Remember when I asked if you wanted to make money while you slept? Now’s your chance. Wakefit posted a job listing offering $1400 for someone to sleep eight hours a night for 100 nights. Their ideal candidate should be able to fall asleep within 10 to 20 minutes of hitting the pillow. Along with the cash, Wakefit will provide their new hire with a mattress and fitness tracker you’ll need to use while on the job. Talk about sweet dreams.
#2. Get Paid To Stand in Line
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All you have to do for this job is stand in line for someone to hold their place while waiting for tickets, restaurants, special events, and more. If you have a lot of patience and don’t mind being on your feet, you can look for place-holding jobs on TaskRabbit.
#3. Get Paid To Download Apps
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There are tons of websites that will pay you to download and test apps. Swagbucks, AppKarma, FeaturePoints, and Irazoo are all places where you can earn cash or gift cards for testing mobile applications, watching ads, and more.
#4. Get Paid To Sell Your Plasma
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I’m sure you’ve heard of blood donation, but did you know some agencies will pay you for your plasma? After drawing some blood, the agency will run it through a machine that separates the plasma from the rest of your blood. The expected pay is between $20 and $50. Take a look at donation centers in your area that offer cash. Saving lives and earning money: all in a day’s work.
#5. Get Paid To Taste Food
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Foodies, listen up: did you know you can work as a food taster and earn between $30,000 and $60,000 annually? Although these gigs are rare, you can get paid to sample, taste, and provide feedback on food from restaurants and food and beverage companies.
#6. Get Paid To Listen to Music
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Do you love listening to music? What about giving your opinion about new bands or songs? If you have a passion for beautiful lyrics and catchy melodies, there are sites where artists will pay you to listen to their music. Slice the Pie and HitPredictor are two such places.
#7. Get Paid to House Sit
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Everyone needs a vacation now and then, but it can be nerve-wracking to leave your house. The last thing you want to return to is a Home Alone-style break-in. Luckily, you can fill the need of a concerned homeowner by staying at their house while they enjoy their time away. In their absence, you’ll take care of the home and ensure catastrophes remain far from the front door. TrustedHouseSitters is a great spot to land one of these jobs.
#8. Get Paid To Be a Friend
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Although it’s immoral to pretend to be someone’s friend, this gig involves the full knowledge and consent of the other party. In other words, your employer knows you’re not being fake because they’re paying you to hang out. Some people are desperate to have someone around to listen to their struggles, celebrate their high moments, and act as a shoulder to cry on. Sometimes, you won’t have to meet them in person by signing up to be someone’s online friend.
#9. Make Money by Collecting Cash Back Rewards
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This is getting paid to do nothing. While shopping, you can rank up sweet rewards by sharing your spending habits with various websites. Whether you go with Rakuten, TopCashBack, or MyPoints, you will be rewarded with cashback you can use to keep your shopping spree rolling.
#10. Get Paid by Babysitting
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If you love kids, you can make money by babysitting. To boost your funds, you can offer to sit more than one child at a time. While this position isn’t for everyone, working with kids is rewarding, fun, and lucrative. If you like this job, you can sign up on Care.com. You will be subject to a background check before you take on babysitting jobs.
#11. Get Paid To Walk
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I know what you’re thinking- getting paid to walk? Granted, this is a physical activity, so you’re not technically doing “nothing,” but if walking is already a part of your daily routine, you can download an app or two that will pay you for your steps. Sweatcoin is one option available on iPhone and Android.
#12. Get Paid To Walk Dogs
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Similar to babysitting, if you are already walking your dogs, why not make money by walking dogs for others? This job is perfect for any animal lover. Sign up and get paid to hang out with some furry friends on Rover. You can even get certified in pet care to give your clients some peace of mind. Again, you will be subject to a background check before you can get to work.
#13. Get Paid To Read Books
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This job is any bookworm’s dream. If reading books is your passion, you can join sites like Kirkus Media and make money by reading their suggested books. You will have to write a review on your thoughts after reading, but if you’re a big reader, you were probably planning on writing a review anyway. This can be lucrative, with some agencies, like the Women’s Review of Books blog, paying $1oo per review.
#14. Get Paid To Complete Research Surveys Between $100-$150
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If you’d like to participate in scientific research, you can take surveys and complete tests for a good amount of cash. These surveys are created by researchers gathering information to write papers, start clinical trials, and more. You may not qualify for every task, though some payouts are as big as $150 if you find a match. See if you’re a fit by checking User Interviews, FieldWork, or FocusGroup.
#15. Get Paid To Be a Mystery Shopper
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If you’ve dreamed of being a spy, becoming a mystery shopper is probably as close as you will get. In this job, you’re going undercover to help specific companies collect feedback about their products and services. One day, they may ask you to visit newly opened restaurants and order food to check for quality control and customer service. Once you’re done, you’ll have to provide feedback on your experience. Sign up on Marketforce and SecretShopper to start your espionage career.
#16. Get Paid to Rent Your Car
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If you don’t drive often or travel a lot for work, you can make money by letting others rent your car. Sites like Turo can help you rent your car while you’re away.
#17. Get Paid to Rent Your RV
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You could be sitting on a gold mine if you have an RV. Like renting out your car, you’ll allow customers to rent your RV for a weekend trip, a week-long getaway, or even a cross-country road trip. If you charge the adventurers $150 a day, you’ll have a nice nest egg to enjoy upon their return. Sites like RVShare and Outdoorsy are perfect places to list your RV.
#18. Get Paid to Rent Your Extra Room
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If you have a room and you are willing to rent it, turn it into an Airbnb. Travelers are always looking for affordable accommodations, and if you don’t mind strangers walking around your home, you’ll be meeting a need and getting some extra cash, too.
#19. Get Paid To Store People’s Belongings
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If you don’t want someone to share your space but are okay with them keeping their stuff in your basement, you can earn cash from people looking for extra space to store luggage and sealed boxes. You won’t meet anyone face-to-face; you’ll simply take their secured items and place them in your storage area. Neighbor can help you get started.
#20. Get Paid To Lend Money
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If you have extra money and don’t know how to invest it, you can use the lending club. This peer-to-peer lending service has an excellent return rate- much better than bank interest. Ensure you know the risks and enjoy watching your bank account go up.
#21. Get Paid To Play Video Games
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If you’re a gamer, the excellent news is that you can make money from your hobby. Many game developers are always looking for game testers to find bugs or issues in their products before they release them to the general public. Ever-popular Blizzard Entertainment is one such company.
#22. Get Paid To Watch Ads and Videos Online
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You can make money by watching ads if you want to turn off your AdBlock software. Daily Rewards and Inbox Dollars are two sites where you can sign up to start watching- and earning.
The post Easy Ways to Earn Extra Cash first appeared on Thrifty Guardian.
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The content of this article is for informational purposes only and does not constitute or replace professional financial advice.
