6 Tips To Make Profit During The Lockdown

6 Tips To Make Profit During The Lockdown

Here are many ways in these challenging times to make money.

The global economy is now collapsing freely, and that is giving people ready plenty of opportunities to develop wealth.

You may want cash for your emergency fund or start saving at a low cost. Here are a few observations.

1. Save Money Online

6 Tips To Make Profit During The Lockdown

In times like this, saving money is sweet.

Make sure you use the Honey extension to save your orders right now. If you buy more online than normal.

Honey looks for deals automatically on the Internet so that you get the best price at all times.

Honey partners with Amazon.com, Amazon.ca and Amazon.uk is a very successful way and is used by more than 10 million customers.

Honey can also be combined with Rakuten for 2x the savings! 

Rakuten gives you cash back at places like Amazon and 100’s of other popular brands. So if you shop through Rakuten you will get 3% to 40% cash back and it’s a free service.

Sign up on Rakuten and get $10 when you spend $25!

2. Invest In Stocks

Invest In Stocks

You have an enormous opportunity if you have money to invest. Now, for pennies on dollars, you can buy quality investments.

Since stock markets are free to fall worldwide, awesome companies can now be bought for huge deals.

https://bioinformaticsindia.com/top-ways-to-utilize-your-time-during-this-lockdown/

Some of the largest enterprises are 50% or less! And when this is all over, the good ones will recover. Anyone with money to spend can turn it into a tremendous chance.

You must open a brokerage account in order to purchase stocks. There are numerous brokers in all forms and sizes. Some popular country options are as follows:

  • 🇮🇳 Zerodha – India’s most popular broker
  • 🇺🇸 Webull – Bonus 2 free stocks worth up to $1400 if you deposit $5 within 30 days
  • 🇨🇦 WealthSimple Trade – Bonus $5 free when you buy $100 worth of stocks/ETFs
  • 🇦🇺 CMC – Australia’s best overall broker

3. Building Passive Income

This is a good time to get cash from an emergency fund or to invest in other opportunities.

You can easily raise cash by starting a side hustle if it is most needed.

Here are some side ideas other than the provision of food:

  • Rent out your car to rideshare drivers (passive income)
  • Start freelancing online (On Upwork, Fiverr etc)
  • Start an online business (there are so many options nowadays!)
  • Sell old college textbooks on Bookscouter
  • Google more side hustles (there’s so many apps and options out there)

4. Rework on your spending : Refinancing

You have more money to spend on other opportunities by reducing your high-interest debt.

Refinancing your debt is the best way to minimise it! For example, when you have a 19% interest loan, there are companies that will convert it to 7%. You can do so with college credits, mortgages, personal loans and more. This is just an example.

This will free up $100 a month you will start saving depending on the size of your loans.

5. Create Your Presence on Social Media

Social Media

During this pandemic, global internet use has risen by over 30%. More time is spent online than ever, which means more chance.

Take time to develop your profile in social media and start posting your content. It’s a good time to start something new, be it for your company or for your personal brand.

6. Be a good Employee

It will not make money for you but it will help you keep it, as important as that, from losing it. Any businesses would have to lay off employees when the markets go down.

If you work 9 to 5 now go above and beyond your employment.

You are less likely to lose your job if it comes down to that if you are important to the business.

Strengthen the expertise and be an asset so that this stream of revenue can still be found.

The Bottom Line

Times like this can be frustrating and we don’t know how long it will last.

You will now become much stronger financially by getting an emergency fund and building cash.

These suggestions would hopefully be useful to you & others.

Keep safe! Stay secure!

6 Tips To Make Profit During The Lockdown

Rajat Singhhttps://bioinformaticsindia.com
Rajat Singh is the chief Author at Bioinformatics India, he has been writing for the past 3 years and has a special interest in SEO, Technology, Health, Life Sciences and gaming.

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