Most households find that their finances are pretty stretched; from rent or mortgage, to bills and insurance, from TV subscriptions and medical care, to food, pets, clothes, holidays, kids, and relatives to name but a few, there is pretty much no one out there who wouldn’t find a bit of extra income useful. To be able to cover debt, or save for a holiday, or simply to be able to put some money away for a rainy day, finding ways of generating extra money without having to do extra work is high on most people’s priority lists.
The main way people make sure they have money for all their outgoings is by having a job. This provides stability and security of a regular amount coming in. However, this is often not enough, and doesn’t account for emergency situations when the boiler breaks or a family emergency requires additional funds. In much the same way as jobs provide a steady income, it is rare for the monthly income to deviate. As such, many seek out additional ways to get extra money, be it on a regular basis, or as and when then need it.
But how can people make extra money?
Aside from getting another job, which reduces time available for home life, and can lead to burnout and long-term issues, there are many ways that individuals can generate extra income.
Sell unwanted items online
There is a whole online world dedicated to second hand or vintage items, as well as the more common places like eBay and Craigslist. Some find it a useful way to declutter and make some money, where others will invest in pieces, do them up and sell on for a profit. Selling items in the right place can be the difference between covering postage costs and making a tidy profit!
Trade Cryptocurrency
Relatively new to the markets, cryptocurrency is set to become mainstream in the next few years. Offering customers, a peer to peer system of checks and balances and affected by market forces rather than government policies, Bitcoin, one of the first and most well-known of the cryptocurrencies began trading at US$0.0008 in 2010, and is currently trading at over US$46,000! However, investors would need to be prepared for substantial dips in the value of cryptocurrency as there is huge instability in the market.
Casino Gaming
Gambling has the potential to yield great results. The market is bursting with hundreds of different online casino sites where players can play their favourite casino games like roulette or slot games to earn a bit of extra money. Money can be made through prudent use of the many different bonuses, which gives players the opportunity to trial games without risking anything, and to have site credit before they have even played anything! (though it is important to be aware of the small print). Many sites also have rewards programmes and VIP clubs for frequent gamblers, which can increase chances of winning and the amount of winnings.
Playing casino games is also fun and can be a way for people to unwind and disconnect from the stresses of the day. It is a sociable activity and there is the potential to make friends amongst like-minded people in the chat rooms and forums, and is a popular hobby. However, there should be a degree of caution when looking at online gambling as a source of income. Whilst there is certainly the potential to win big, there needs to be an awareness of the risks involved; players should not gamble more than they are prepared to lose. Take a look at gclub for some great casino offers.
Stock Market
Investing in the stock market can bring huge rewards in terms of financial gain, but can also lead to losses if companies go bust or market conditions change, and investors must be prepared to lose as well as gain, so may not be the best solution for all household situations. However, there are plenty of options to start investing with as little as US$5, though of course the returns on this will not be particularly large.
Property investment
One way to have (almost) guaranteed income is by renting out property. Though this requires a pretty hefty initial investment, and ongoing expenses in terms of insurances, this is a popular way of making sure there is a steady income stream coming in. And if there is a change in circumstances, the property can be sold for a lump sum, which can help in relocation costs, or to deal with any emergencies that may pop up.
Are casinos reliable?
Playing casino games and gambling is just one of many options when it comes to bringing in extra income. Whilst there is the potential for the big wins, people do need to be aware that gambling is meant to be a fun hobby, and individuals should not gamble more than they can afford to lose. When looking at pure statistics, the house always wins, and on the balance of probabilities, barring a huge win, most players just about break even or less, and it is rare for casinos to be a regular source of steady income. However, online gambling is a fun, sociable activity, with the added bonus of a potential win. For steady, reliable income, there are other, more effective routes to go down.
