Tag: Make Money

Compound Interest Calculator

Compound interest is one of the most important concepts to understand in investing. It’s something about investing that many people aren’t familiar with, but it plays an essential role in making investments profitable. 

If you’re curious about compound interest and how it works, good for you — you’re on the right track. In this post, you’ll find a compound interest calculator that can quickly and clearly show you how much money you might make by investing in an account that delivers compound interest. 

Use the calculator below to get a sense of your potential earnings, then read the sections below to gain more insight into how you can make money through compound interest. 

.select2-container{box-sizing:border-box;display:inline-block;margin:0;position:relative;vertical-align:middle}.select2-container .select2-selection–single{box-sizing:border-box;cursor:pointer;display:block;height:28px;user-select:none;-webkit-user-select:none}.select2-container .select2-selection–single .select2-selection__rendered{display:block;padding-left:8px;padding-right:20px;overflow:hidden;text-overflow:ellipsis;white-space:nowrap}.select2-container .select2-selection–single .select2-selection__clear{position:relative}.select2-container[dir=rtl] .select2-selection–single .select2-selection__rendered{padding-right:8px;padding-left:20px}.select2-container .select2-selection–multiple{box-sizing:border-box;cursor:pointer;display:block;min-height:32px;user-select:none;-webkit-user-select:none}.select2-container .select2-selection–multiple .select2-selection__rendered{display:inline-block;overflow:hidden;padding-left:8px;text-overflow:ellipsis;white-space:nowrap}.select2-container .select2-search–inline{float:left}.select2-container .select2-search–inline .select2-search__field{box-sizing:border-box;border:none;font-size:100%;margin-top:5px;padding:0}.select2-container .select2-search–inline .select2-search__field::-webkit-search-cancel-button{-webkit-appearance:none}.select2-dropdown{background-color:#fff;border:1px solid #aaa;border-radius:4px;box-sizing:border-box;display:block;position:absolute;left:-100000px;width:100%;z-index:1051}.select2-results{display:block}.select2-results__options{list-style:none;margin:0;padding:0}.select2-results__option{padding:6px;user-select:none;-webkit-user-select:none}.select2-results__option[aria-selected]{cursor:pointer}.select2-container–open .select2-dropdown{left:0}.select2-container–open .select2-dropdown–above{border-bottom:none;border-bottom-left-radius:0;border-bottom-right-radius:0}.select2-container–open .select2-dropdown–below{border-top:none;border-top-left-radius:0;border-top-right-radius:0}.select2-search–dropdown{display:block;padding:4px}.select2-search–dropdown .select2-search__field{padding:4px;width:100%;box-sizing:border-box}.select2-search–dropdown .select2-search__field::-webkit-search-cancel-button{-webkit-appearance:none}.select2-search–dropdown.select2-search–hide{display:none}.select2-close-mask{border:0;margin:0;padding:0;display:block;position:fixed;left:0;top:0;min-height:100%;min-width:100%;height:.select2-hidden-accessible{border:0!important;clip:rect(0 0 0 0)!important;-webkit-clip-path:inset(50%)!important;clip-path:inset(50%)!important;height:1px!important;overflow:hidden!important;padding:0!important;position:absolute!important;width:1px!important;white-space:nowrap!important}.select2-container–default .select2-selection–single{background-color:#fff;border:1px solid #aaa;border-radius:4px}.select2-container–default .select2-selection–single .select2-selection__rendered{color:#444;line-height:28px}.select2-container–default .select2-selection–single .select2-selection__clear{cursor:pointer;float:right;font-weight:700}.select2-container–default .select2-selection–single .select2-selection__placeholder{color:#999}.select2-container–default .select2-selection–single .select2-selection__arrow{height:26px;position:absolute;top:1px;right:1px;width:20px}.select2-container–default .select2-selection–single .select2-selection__arrow b{border-color:#888 transparent transparent transparent;border-style:solid;border-width:5px 4px 0 4px;height:0;left:50%;margin-left:-4px;margin-top:-2px;position:absolute;top:50%;width:0}.select2-container–default[dir=rtl] .select2-selection–single .select2-selection__clear{float:left}.select2-container–default[dir=rtl] .select2-selection–single .select2-selection__arrow{left:1px;right:auto}.select2-container–default.select2-container–disabled .select2-selection–single{background-color:#eee;cursor:default}.select2-container–default.select2-container–disabled .select2-selection–single .select2-selection__clear{display:none}.select2-container–default.select2-container–open .select2-selection–single .select2-selection__arrow b{border-color:transparent transparent #888 transparent;border-width:0 4px 5px 4px}.select2-container–default .select2-selection–multiple{background-color:#fff;border:1px solid #aaa;border-radius:4px;cursor:text}.select2-container–default .select2-selection–multiple .select2-selection__rendered{box-sizing:border-box;list-style:none;margin:0;padding:0 5px;width:100%}.select2-container–default .select2-selection–multiple .select2-selection__rendered li{list-style:none}.select2-container–default .select2-selection–multiple .select2-selection__clear{cursor:pointer;float:right;font-weight:700;margin-top:5px;margin-right:10px;padding:1px}.select2-container–default .select2-selection–multiple .select2-selection__choice{background-color:#e4e4e4;border:1px solid #aaa;border-radius:4px;cursor:default;float:left;margin-right:5px;margin-top:5px;padding:0 5px}.select2-container–default .select2-selection–multiple .select2-selection__choice__remove{color:#999;cursor:pointer;display:inline-block;font-weight:700;margin-right:2px}.select2-container–default .select2-selection–multiple .select2-selection__choice__remove:hover{color:#333}.select2-container–default[dir=rtl] .select2-selection–multiple .select2-search–inline,.select2-container–default[dir=rtl] .select2-selection–multiple .select2-selection__choice{float:right}.select2-container–default[dir=rtl] .select2-selection–multiple .select2-selection__choice{margin-left:5px;margin-right:auto}.select2-container–default[dir=rtl] .select2-selection–multiple .select2-selection__choice__remove{margin-left:2px;margin-right:auto}.select2-container–default.select2-container–focus .select2-selection–multiple{border:solid #000 1px;outline:0}.select2-container–default.select2-container–disabled .select2-selection–multiple{background-color:#eee;cursor:default}.select2-container–default.select2-container–disabled .select2-selection__choice__remove{display:none}.select2-container–default.select2-container–open.select2-container–above .select2-selection–multiple,.select2-container–default.select2-container–open.select2-container–above .select2-selection–single{border-top-left-radius:0;border-top-right-radius:0}.select2-container–default.select2-container–open.select2-container–below .select2-selection–multiple,.select2-container–default.select2-container–open.select2-container–below .select2-selection–single{border-bottom-left-radius:0;border-bottom-right-radius:0}.select2-container–default .select2-search–dropdown .select2-search__field{border:1px solid #aaa}.select2-container–default .select2-search–inline .select2-search__field{background:0 0;border:none;outline:0;box-shadow:none;-webkit-appearance:textfield}.select2-container–default .select2-results>.select2-results__options{max-height:200px;overflow-y:auto}.select2-container–default .select2-results__option[role=group]{padding:0}.select2-container–default .select2-results__option[aria-disabled=true]{color:#999}.select2-container–default .select2-results__option[aria-selected=true]{background-color:#ddd}.select2-container–default .select2-results__option .select2-results__option{padding-left:1em}.select2-container–default .select2-results__option .select2-results__option .select2-results__group{padding-left:0}.select2-container–default .select2-results__option .select2-results__option .select2-results__option{margin-left:-1em;padding-left:2em}.select2-container–default .select2-results__option .select2-results__option .select2-results__option .select2-results__option{margin-left:-2em;padding-left:3em}.select2-container–default .select2-results__option .select2-results__option .select2-results__option .select2-results__option .select2-results__option{margin-left:-3em;padding-left:4em}.select2-container–default .select2-results__option .select2-results__option .select2-results__option .select2-results__option .select2-results__option .select2-results__option{margin-left:-4em;padding-left:5em}.select2-container–default .select2-results__option .select2-results__option .select2-results__option .select2-results__option .select2-results__option .select2-results__option .select2-results__option{margin-left:-5em;padding-left:6em}.select2-container–default .select2-results__option–highlighted[aria-selected]{background-color:#5897fb;color:#fff}.select2-container–default .select2-results__group{cursor:default;display:block;padding:6px}.select2-container–classic .select2-selection–single{background-color:#f7f7f7;border:1px solid #aaa;border-radius:4px;outline:0;background-image:-webkit-linear-gradient(top,#fff 50%,#eee 100%);background-image:-o-linear-gradient(top,#fff 50%,#eee 100%);background-image:linear-gradient(to bottom,#fff 50%,#eee 100%);background-repeat:repeat-x}.select2-container–classic .select2-selection–single:focus{border:1px solid #5897fb}.select2-container–classic .select2-selection–single .select2-selection__rendered{color:#444;line-height:28px}.select2-container–classic .select2-selection–single .select2-selection__clear{cursor:pointer;float:right;font-weight:700;margin-right:10px}.select2-container–classic .select2-selection–single .select2-selection__placeholder{color:#999}.select2-container–classic .select2-selection–single .select2-selection__arrow{background-color:#ddd;border:none;border-left:1px solid #aaa;border-top-right-radius:4px;border-bottom-right-radius:4px;height:26px;position:absolute;top:1px;right:1px;width:20px;background-image:-webkit-linear-gradient(top,#eee 50%,#ccc 100%);background-image:-o-linear-gradient(top,#eee 50%,#ccc 100%);background-image:linear-gradient(to bottom,#eee 50%,#ccc 100%);background-repeat:repeat-x}.select2-container–classic .select2-selection–single .select2-selection__arrow b{border-color:#888 transparent transparent transparent;border-style:solid;border-width:5px 4px 0 4px;height:0;left:50%;margin-left:-4px;margin-top:-2px;position:absolute;top:50%;width:0}.select2-container–classic[dir=rtl] .select2-selection–single .select2-selection__clear{float:left}.select2-container–classic[dir=rtl] .select2-selection–single .select2-selection__arrow{border:none;border-right:1px solid #aaa;border-radius:0;border-top-left-radius:4px;border-bottom-left-radius:4px;left:1px;right:auto}.select2-container–classic.select2-container–open .select2-selection–single{border:1px solid #5897fb}.select2-container–classic.select2-container–open .select2-selection–single .select2-selection__arrow{background:0 0;border:none}.select2-container–classic.select2-container–open .select2-selection–single .select2-selection__arrow b{border-color:transparent transparent #888 transparent;border-width:0 4px 5px 4px}.select2-container–classic.select2-container–open.select2-container–above .select2-selection–single{border-top:none;border-top-left-radius:0;border-top-right-radius:0;background-image:-webkit-linear-gradient(top,#fff 0,#eee 50%);background-image:-o-linear-gradient(top,#fff 0,#eee 50%);background-image:linear-gradient(to bottom,#fff 0,#eee 50%);background-repeat:repeat-x}.select2-container–classic.select2-container–open.select2-container–below .select2-selection–single{border-bottom:none;border-bottom-left-radius:0;border-bottom-right-radius:0;background-image:-webkit-linear-gradient(top,#eee 50%,#fff 100%);background-image:-o-linear-gradient(top,#eee 50%,#fff 100%);background-image:linear-gradient(to bottom,#eee 50%,#fff 100%);background-repeat:repeat-x}.select2-container–classic .select2-selection–multiple{background-color:#fff;border:1px solid #aaa;border-radius:4px;cursor:text;outline:0}.select2-container–classic .select2-selection–multiple:focus{border:1px solid #5897fb}.select2-container–classic .select2-selection–multiple .select2-selection__rendered{list-style:none;margin:0;padding:0 5px}.select2-container–classic .select2-selection–multiple .select2-selection__clear{display:none}.select2-container–classic .select2-selection–multiple .select2-selection__choice{background-color:#e4e4e4;border:1px solid #aaa;border-radius:4px;cursor:default;float:left;margin-right:5px;margin-top:5px;padding:0 5px}.select2-container–classic .select2-selection–multiple .select2-selection__choice__remove{color:#888;cursor:pointer;display:inline-block;font-weight:700;margin-right:2px}.select2-container–classic .select2-selection–multiple .select2-selection__choice__remove:hover{color:#555}.select2-container–classic[dir=rtl] .select2-selection–multiple .select2-selection__choice{float:right;margin-left:5px;margin-right:auto}.select2-container–classic[dir=rtl] .select2-selection–multiple .select2-selection__choice__remove{margin-left:2px;margin-right:auto}.select2-container–classic.select2-container–open .select2-selection–multiple{border:1px solid #5897fb}.select2-container–classic.select2-container–open.select2-container–above .select2-selection–multiple{border-top:none;border-top-left-radius:0;border-top-right-radius:0}.select2-container–classic.select2-container–open.select2-container–below .select2-selection–multiple{border-bottom:none;border-bottom-left-radius:0;border-bottom-right-radius:0}.select2-container–classic .select2-search–dropdown .select2-search__field{border:1px solid #aaa;outline:0}.select2-container–classic .select2-search–inline .select2-search__field{outline:0;box-shadow:none}.select2-container–classic .select2-dropdown{background-color:#fff;border:1px solid transparent}.select2-container–classic .select2-dropdown–above{border-bottom:none}.select2-container–classic .select2-dropdown–below{border-top:none}.select2-container–classic .select2-results>.select2-results__options{max-height:200px;overflow-y:auto}.select2-container–classic .select2-results__option[role=group]{padding:0}.select2-container–classic .select2-results__option[aria-disabled=true]{color:grey}.select2-container–classic .select2-results__option–highlighted[aria-selected]{background-color:#3875d7;color:#fff}.select2-container–classic .select2-results__group{cursor:default;display:block;padding:6px}.select2-container–classic.select2-container–open .select2-dropdown{border-color:#5897fb}
.iv-calculator *{font-family:Avenir,”Helvetica Neue”,Helvetica,Arial,sans-serif}.iv-calculator{max-width:650px;width:100%;margin:0 .ivc-title{display:flex;align-items:center;border-bottom:1px solid #e5e5e5;padding-bottom:25px;padding-top:5px}.ivc-title .ivc-title_text{flex:5}.ivc-title_text{font-size:40px;font-weight:700;line-height:46px;color:#3a3a3a;padding-left:20px}.ivc-wrapper{display:flex}.ivc-wrapper .ivc-outputs{flex:2;padding:10px}.ivc-inputs_memo{color:#686868;font-size:15px;line-height:20px;margin-bottom:20px;font-weight:400}.ivc-inputs_memo span{font-weight:700;text-decoration:underline}.ivc-wrapper .ivc-inputs{flex:1.2;padding:25px 10px 10px 0;border-right:1px solid #e5e5e5}.ivc-inputs_title{border-bottom:1px solid #e5e5e5;font-weight:700;font-size:18px;color:#444;padding-bottom:10px;margin-top:20px}.ivc-inputs_name{color:#444;font-weight:600;font-size:13px;margin-bottom:5px}.select2-dropdown {margin-top: 32px;}.ivc-inputs_ico{background-image:url(data:image/svg+xml;base64,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);background-repeat:no-repeat;width:15px;height:15px;cursor:pointer;position:absolute;top:3px;right:0}.ivc-inputs_label{position:relative}.ivc-inputs_box{margin-top:15px;margin-bottom:15px}.ivc-inputs_val{position:relative}.ivc-inputs_val input[type=text]{color:#bdbdbd;font-weight:500;border:1px solid silver;border-radius:5px;width:100%;padding-left:10px;padding-top:5px;padding-bottom:4px;font-size:16px;outline:0}.ivc-inputs_val input[type=text]::-webkit-input-placeholder{color:rgba(174,174,174,.65)}.ivc-inputs_val input[type=text]:-moz-placeholder{color:rgba(174,174,174,.65);opacity:1}.ivc-inputs_val input[type=text]::-moz-placeholder{color:rgba(174,174,174,.65);opacity:1}.ivc-inputs_val input[type=text]:-ms-input-placeholder{color:rgba(174,174,174,.65)}.ivc-inputs_val input[type=text]::-ms-input-placeholder{color:rgba(174,174,174,.65)}.ivc-inputs_val input[type=text]::placeholder{color:rgba(174,174,174,.65)}span.ivc-inputs_sign{position:absolute;color:#444;left:10px;top:6px;font-size:16px;font-weight:700}span.ivc-inputs_sign.ivc-inputs_sign_percent{left:.ivc-inputs_tooltip{position:absolute;z-index:2222;background:#fff;color:#3a3a3a;padding:10px;border-radius:3px;font-size:11px;line-height:14px;width:200px;box-shadow:1px 1px 5px #545454;display:none;text-transform:none;font-family:Arial,sans-serif}.select2-container–default .select2-selection–single .select2-selection__arrow{position:absolute;top:3px;right:-1px;background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAABgAAAAYCAYAAADgdz34AAAA3klEQVRIS+3VMU9CMRTF8d8zBL+aizoQFhx0kUk33RzdYMNFXUFnYeGrYYyaJiUxJHDLSxodbNKpfeffc9/pbaPyaCrr+3OA++z4rtT5Pg5GuMnCY9yWQEoBE1xhlUUP8YDrCBIB0vojLvGO0yz4hm4JJAKcYYoPHGOZAUdYoIMBXrc5iQAHeMlzviFygj7O8dkWEJU4XI8chALRhn9AVKHf70VRTHu4wFfbmKZLNKt50dLBnna0imcMd/2I0phWa3Y/D1e1Xa9BCZJG0VuQNpaWKMx72xS1Fl5/WN3BN+AgJhnZQlq4AAAAAElFTkSuQmCC);background-position:calc(100% – .5rem),100% 0;background-size:1.5em 1.5em;background-repeat:no-repeat}.select2-container–default .select2-selection–single{background-color:#fff;border:1px solid #aaa;border-radius:5px;outline:0}.select2-container .select2-selection–single{height:33px;padding-top:2px}.select2-container–default .select2-selection–single .select2-selection__arrow b{display:none}.ivc-inputs_val.ivc-inputs_val_long{display:flex}.ivc-inputs_val.ivc-inputs_val_long div:nth-child(1){margin-right:5px;flex:1.4}.ivc-inputs_val.ivc-inputs_val_long div:nth-child(2){flex:2}.ivc-outputs .ivc-title_text{font-size:20px;line-height:22px;padding-left:5px}.ivc-outputs .ivc-title{border-bottom:none;text-align:center;padding-bottom:15px}.ivc-total_row{text-align:center}.ivc-total_row .ivc-total_col{background:#f4f5f8;border-radius:2px;padding:20px 0 20px 15px;font-weight:400;color:#444;line-height:20px;font-size:14px;display:flex;align-items:center;text-align:center;justify-content:center}span#ivc_return_result{color:#00cda9;font-size:22px;font-weight:700;margin-left:10px}.ivc-result_row{display:flex;align-items:center;justify-content:space-between;padding-top:5px}.ivc-result_row .ivc-result_col{text-align:center;background:#f4f5f8;border-radius:3px;border-bottom-left-radius:0;border-bottom-right-radius:0;padding:10px;padding-top:10px;padding-bottom:15px;width:calc(1/3*100% – (1 – 1/3)*5px);height:95px}.ivc-result_ico{min-height:36px}.ivc-result_row>.ivc-result_col:nth-child(3n){margin-right:0}.ivc-result_val{color:#444;font-weight:700;font-size:18px;padding-bottom:15px;padding-top:10px}.ivc-result_text{color:#444;font-size:10px;line-height:12px;font-weight:400}.ivc-chart_title{text-align:center;color:#444;font-size:15px;margin-top:25px;margin-bottom:10px;font-weight:500}.ivc_chart_pie_legend_item{color:#7b7a7a;font-size:10px;text-align:left;margin-bottom:6px;position:relative}.ivc_chart_pie_legend span{background:#000;display:inline-block;border-radius:50%;width:9px;height:9px;position:absolute;left:-15px;top:2px}.ivc_chart_pie_legend .ivc_chart_pie_legend_item:nth-child(1) span{background:#00cda9}.ivc_chart_pie_legend .ivc_chart_pie_legend_item:nth-child(2) span{background:#1b8381}.ivc_chart_pie_legend .ivc_chart_pie_legend_item:nth-child(3) span{background:#7df8c4}.ivc_chart_pie_legend{position:absolute;right:5px;top:25px}.ivc_chart_pie_wrap{position:relative;padding-left:15px}.ivc-chart_title.ivc-chart_title_bordered{border-top:1px solid #e5e5e5;padding-top:20px;margin-top:15px}.ivc-inputs_val{position:relative;display:flex}@media all and (max-width:700px){.ivc-wrapper{display:block}.ivc-total_row{display:block}.ivc-total_row .ivc-total_col:nth-child(1){margin-right:0;margin-bottom:5px}.ivc-result_row{display:block}.ivc-result_row .ivc-result_col{width:100%;margin-top:10px}.ivc_chart_pie_legend{position:relative;right:.ivc_chart_pie_legend{margin:0 #ivc_chart_pie{margin:0 auto}}

Compound Interest Calculator
First, tell us about your investment plan by filling in the fields below.
Investment Plan:
Starting Amount:
Amount of initial investment: Total amount you will initially invest or currently have invested toward your investment goal.
Years to Accumulate:
Years to accumulate: The number of years you have to save.
Contribution Amount:
Periodic contribution: The amount you will contribute each period and the frequency at which you will make regular contributions to this investment.
Every WeekEvery Two WeeksPer MonthPer QuarterPer Year
Rate of Return:
Rate of return on investment: This is the rate of return an individual would expect from their investment. It is important to remember that these scenarios are hypothetical and that future rates of return can’t be predicted with certainty and actual rate of return can very widely over time.
Compound Frequency:
Compound frequency: Interest on an investment’s interest, plus previous interest. The more frequently this occurs, the sooner your accumulated interest will generate additional interest. You should check with your financial institution to find out how often interest is being compounded on your particular investment.
DailyMonthlySemiannuallyAnnually
Years to Accumulate:
Years to Accumulate: This is the amount of time until you withdraw or use your investments.
Your Investment Results:
Ending Amount: $0
$0
Total Investment
$0
Compound Interest Earned
$0
Simple Interest Earned
Investment Growth Over Time
Investment Breakdown
Total Investment
Compound Interest Earned
Simple Interest Earned

  • How to use a compound interest calculator
    • Investment definitions
  • How does compound interest work
    • Compound interest formula
  • Compound interest accounts
  • Compound interest FAQs

How to use a compound interest calculator

Using the compound interest calculator is simple. Follow these steps to see what you might earn through compound interest investing. 

  1. Enter your initial investment. It can be any value that you like, but it’s helpful to make it a realistic amount. For instance, if you’re saving up to invest right now, you can put the amount that you plan on investing once you’ve saved up enough. 
  2. Next, enter the amount you plan on adding to your investment portfolio each month. This can also be any value you like, but it’s most useful if you enter an amount that you can budget for. Even if that’s just an extra $10 a month, it makes a difference. 
  3. Choose whether you want your interest compounded annually, compounded monthly, or compounded daily. (If you don’t know what that means, stay tuned for the definitions below.) 
  4. Input the estimated rate of return. This can vary considerably, but index funds and similar investment vehicles can yield between 2% and 10% returns. 
  5. Input your time horizon — the amount of time until you withdraw or use your investments. 

Once you’ve filled out the calculator, you should see an estimate of the amount you’re likely to have when the period of compound investing is up. If you’re a little confused about how we got this number, or what you need to do to grow your money in this way, check out the definitions, guide, and FAQs below. 

Investment definitions

  • Compounding: This occurs when the money that is made from an investment is reinvested, increasing the total amount of interest yielded the next time your interest is compounded. 
  • Index fund: Index funds are bundled investments that roughly track the growth of a market index, which is a collection of publicly-traded companies. They are often considered lower-risk investments.
  • Interest: The money you make on your investments; essentially, the money you earn for investing in the success of a company, a government bond, or a fund.
  • Principal: The amount of money that you start out with when you begin investing.
  • Rate of returns: The rate at which you accrue interest — for example, 3% returns would mean that, for every $100 invested, you would earn $3. 
  • Returns: The money that you earn on your investments. 
  • Time horizon: The amount of time that you plan on investing.

Now that you have a few key compound interest definitions in mind, we can explain how it works. 

How does compound interest work

Having more money can help make you more money — that’s the principle behind compound interest. Here’s how that breaks down. Let’s say that you have $1000 to invest. You put it in an account (let’s say a money market account) that yields 2% interest, compounded monthly. At the end of the first month, you’d have $1020. So far, so good.

But here’s where it gets really interesting. That 2% rate of return now applies to the $1020 total, not just the principal investment of $1000. So, after the end of month 2, you’ll have $1040.40 — an added $0.40 compared to the previous month. 

That might not sound like a lot, but it starts to add up. Have you ever rolled a snowball down a hill? The same idea applies. As your money grows and adds to itself, the amount that it can add to itself the next time your interest compounds is more. It may not be a get-rich-quick scheme, but it’s a reasonably secure way to start building your net worth in the long term. 

Plus, you’re not limited to money market accounts with rates as low as 2%. If you’re willing to put a little more risk on the line, you can get returns as high as 10% in some cases. We’ll cover that more in a later section. But first, time for a little math homework (just for those who are curious!). 

  • Looking for a longer explanation? Check out our full-length guide to how to earn compound interest. 

Compound interest formula

Compound interest is really mathematically interesting. Here’s the formula: A = P(1 + r/n)(nt)

If you want to try to see what’s going on behind the scenes in our calculator, here’s how to do the math yourself using the compound interest formula. 

  • The A in the formula is the amount you’ll end up with; this comes last. 
  • The P in the formula above stands for your principal, that’s the amount that you start with. 
  • Multiply P by 1 + your interest rate r (given in a decimal; so 4% would be 0.04) divided by n, the number of times your interest is compounded in a given period. 
  • Raise all of that to the power of n times t, where t is the number of time periods elapsed. 
  • For example, if you’re investing for 12 months, and your account interest is compounded daily, n would be roughly 30, and t would be 12 if you want to know how much you’ll have in a year. 

Try the formula out yourself, and see what result you get compared to the result in our calculator to check your work!

Compound interest accounts

Now that you understand the basics of compound interest, you’re probably wondering how you harness it to increase your net worth. The key is to use accounts that offer compound interest. Here are a few examples:

  • High yield savings and money markets. These are essentially savings accounts. They aren’t investment accounts (which we’ll discuss in a minute), but they do use a similar principle to grow your money. Rates on these can be fairly low compared to other options, but your money remains accessible, so you won’t have to worry if you need access to your cash fast in an emergency.
  • Retirement accounts. If you have a 401k or IRA opened right now, good news: you’re already accessing the power of compound interest. Most retirement accounts use a diversified and stable portfolio to grow your money over time, investing in index funds, government bonds, and dividend stocks to help you build your nest egg. 
  • Investments. Of course, one of the most aggressive and effective ways to utilize the power of compound interest is to start investing. There are a number of different ways you can invest — be sure to read our guide to investing for beginners for a more thorough explanation — but all can involve compound interest. For example:
    • Dividend stocks sometimes allow you to reinvest the payout from your dividends, increasing the amount of your dividend the next time there is a payout. 
    • Index funds, like mutual funds and ETFs, also often allow investors to reinvest their earnings, harnessing compound interest in their favor. 
    • If you invest directly in stocks, you can always use the money that you earn to reinvest or invest in another stock — be aware that this is a riskier option, however. 
    • Whether you choose an in-person brokerage or a trendy new robo-advisor, you’ll likely be able to use the power of compound interest to grow your capital. 

Compound interest is a mathematical force that can help you build your net worth over time. You can get started today by finding the right investing or saving vehicle for your personal finances. And don’t forget to download the Mint app, where you can conveniently track your investments all in one place. 

Compound interest FAQs

How do I calculate compound interest?

You can calculate compound interest in one of two ways: you can use the formula listed above to calculate it by hand, or you can use the compound interest calculator to figure out your total more quickly. Just be sure you know the necessary variables:

  • The principal amount
  • Your interest rate
  • How often it’s compounded
  • The number of compounding period that will occur

What will $10,000 be worth in 20 years?

That totally depends on how much interest your account produces and whether you invest more as time goes on. 

Let’s assume an average return rate of around 7%, and assume that you don’t add in any more money. In that case, your $10,000 could turn into $40,547 — still an impressive amount. That’s the power of compound interest. 

How do you calculate compound interest monthly?

To calculate compound interest monthly, simply set the “compounding frequency” setting on the calculator above to “monthly.” Alternatively, you can use the formula above and set n equal to 1 and t equal to 12 to find out how much money you’ll have if interest is compounded monthly for a year. 

Sources

Wealthsimple | Investor.gov

The post Compound Interest Calculator appeared first on MintLife Blog.

Source: mint.intuit.com

15 Home Business Ideas & The Free Courses You Need To Get Started

Are you looking for a work from home job or some at home business ideas?

If so, then I have a great list of free resources, such as courses and guides, that will help you find the best option and learn how to get started. Plus, all of the courses and guides in this article are free!

home business ideasIf you’re looking to make extra money, or even a full-time income, working from home is a great option. There are lots of realistic home business ideas that allow you to work on a flexible schedule.

In fact, around 50% of U.S. businesses are home based, and that number is expected to grow well into the future.

But, many people don’t know what kind of options are available or how to get started with their in home business ideas.

This article is a good starting point because I’m going to tell you about 15 different profitable home based business ideas and link to free courses, workshops, and guides that will help you kick off each of these ideas.

There are lots of valuable paid courses out there, but if you’re not sure about an idea, you might not want to spend hundreds of dollars on a course. That’s why free courses and guides are a great way to start.

You can learn more about each of these small business ideas, learn some of the basic skills, how much money you can earn, and more. You get to test these ideas a little bit before you invest a lot of time and money.

No matter what kind of business you decide to start, I think you’ll really enjoy starting one from home. 

I have been working from home since 2013, and I wouldn’t change it for anything! I absolutely love and enjoy running a business from home.

It has allowed me to travel full-time, save enough money to retire early, love what I do each day, and more.

Many people love running home based businesses for those reasons, but it also cuts your commute, allows you to earn money in your spare time, be your own boss, work on a flexible schedule, and more.

So, to help you get started, today I will explain some of the best small business ideas from home and which free online courses can help you get started.

Here is a quick list of the free work at home courses and resources I’m sharing:

  1. Selling Printables on Etsy Ebook
  2. Sell on Amazon Starter Course
  3. How To Start a Blog Course
  4. Build A Voiceover Action Plan From Scratch Minicourse
  5. Start An Online Advertising Business From Scratch
  6. Start Your Virtual Bookkeeping Business
  7. Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days
  8. General Transcription Mini-Course
  9. Become a Proofreader 76 Minute Webinar
  10. Court Transcript Proofreading Mini Course
  11. Podcast Virtual Assistant Workbooks
  12. Make Money Writing Romance Novels ecourse
  13. Pinterest Virtual Assistant Training Workshop
  14. Jumpstart Your Virtual Assistant Business
  15. Self-Publishing Your First Book

Below, I will be diving deeper into what each option is like, as well as more information about each of those free resources.

Below are 15 home business ideas.

 

1. Sell printables on Etsy.

Are you looking for a smart home business idea that allows you to use your creativity? Are you wondering “What can I sell from home to make money?”

If so, I recommend checking out this option. See, creating printables on Etsy can be a great side hustle because you just need to create one digital file per product, which you can then sell an unlimited number of times.

Printables are digital products that customers can download and print at home. Examples include grocery shopping checklists, gift tags, candy bar wrappers, printable quotes for wall art, and patterns.

You can sign up for this free ebook that helps you figure out where to start when it comes to selling printables on Etsy.

Related content on successful home business ideas:

  • 12 Passive Income Ideas That Will Let You Enjoy Life More
  • 15 Of My Best Working From Home Tips So You Can Succeed
  • 15 Outdoor Jobs For People Who Love Being Outside
  • 24 Of The Best Work From Home Jobs & How To Avoid Scams

 

2. Sell items on Amazon.

Yes, you can make money selling items on Amazon. Actually, this is one of the home business ideas with low start up costs because you can literally start selling items from around your house. Make money while you declutter your home, what’s not to love?!

The first year that my friend Jessica ran her Amazon FBA business, working less than 20 hours a week total, she made over $100,000 profit!

This free course shows you how to start a profitable Amazon business in a 9-part video course. You’ll learn:

  • The exact steps to follow to set up your Amazon Seller account
  • Two easy and affordable ways to find items to sell
  • How to choose profitable inventory that customers actually want to buy

Click here to sign up for the FREE Amazon FBA Starter Course!

 

3. Start a blog to work at home.

For obvious reasons, blogging is my favorite on this list of profitable home business ideas.

It is a business that allows me to travel full-time, have a flexible schedule, earn somewhat passive income, and more.

Blogging changed my life for the better, and it allows me to earn thousands of dollars a month, all by doing something that I love.

My blog was created on a whim as a way to track my personal finance progress. And when I first started my blog, I honestly didn’t even know that this was going to be one of the best small profitable business ideas out there. At least that’s been the case for me! 

You can easily learn how to start a blog with my free How To Start a Blog Course.

Here’s a quick outline of what you will learn:

    • Day 1: Reasons you should start a blog
    • Day 2: How to determine what to blog about
    • Day 3: How to create your blog (in this lesson, you will learn how to start a blog on WordPress – my tutorial makes it very easy to start a blog)
    • Day 4: How to make money blogging
    • Day 5: My tips for making passive income from blogging
    • Day 6: How to grow your traffic and followers
    • Day 7: Miscellaneous blogging tips that will help you be successful

 

4. Become a voice over actor.

A voice over actor is the person you hear but rarely see on YouTube videos, radio ads, explainer videos, corporate narration, documentaries, e-learning courses, audiobooks, TV commercials, video games, movies, and cartoons.

In 2014, Carrie Olsen replaced her salaried day job to become a full-time voice over actor. People are constantly asking her how she got her start and how they can too.

So, she created Build A Voiceover Action Plan From Scratch Minicourse — This free course will help you learn about becoming a voice over artist, even if you’re brand new!

 

5. Run Facebook ads for local businesses.

Did you know that you can make a living from Facebook? With Facebook advertising, you can help businesses expand their reach.

And, yes, this is a skill that you can learn without any prior experience in marketing or advertising.

The going rate for Facebook Ad management is $1,000 – $1,500 per month, per client.

Last year, business owners spent over $88,000,000 per day on Facebook ads. This is expected to continue to grow, and it is one of the largest advertising spaces that exists.

My friend Bobby Hoyt knows a lot about this topic. Bobby is a former high school teacher who paid off $40,000 of student loan debt in a year and a half. He now runs the personal finance blog Millennial Money Man full-time, as well as a digital marketing agency for local businesses that he started in 2015.

Bobby has a free webinar on this topic too. His webinar, Start An Online Advertising Business From Scratch, will teach you how to start this business even if you’re brand new, how to find paying clients, and more.

 

stay-at home business ideas

6. Start a bookkeeping business.

A bookkeeper is someone who tracks the finances of a business. They may handle payroll, billing and invoicing, etc.

These are all skills you can learn without being an accountant or having any previous experience.

Ben, from Bookkeeper Launch, helps people get started as bookkeepers even when they don’t have any experience. Ben is a CPA who founded his business after realizing that many businesses needed better bookkeepers. 

Start Your Virtual Bookkeeping Business will teach you more about running your own virtual bookkeeping business. You’ll learn:

  • Is a bookkeeping business for you?
  • What exactly is a bookkeeping business? What kind of work do they do?
  • How much money can you make as a bookkeeper?
  • How do you find clients?

 

7. Search for items to resell.

Have you ever found something that you thought you could resell to make a profit?

Melissa’s family earned $133,000 in one year by buying and selling items that they’ve found at thrift stores, yard sales, and flea markets.

Some of the best flipped items that they’ve sold include:

  • An item that they bought for $10 and flipped for $200 just 6 minutes later
  • A security tower they bought for $6,200 and flipped for $25,000 just one month later
  • A prosthetic leg that they bought for $30 at a flea market and sold for $1,000 on eBay the next day

This is one of the home business ideas that anyone can start because you can start off selling things in your own house — I know we all have lots of stuff in our house that we could stand to get rid of. Then once you get a feel for the work, you can start purchasing items to resell.

Melissa has a great free webinar, Turn Your Passion For Visiting Thrift Stores, Yard Sales & Flea Markets Into A Profitable Reselling Business In As Little As 14 Days, that will help you learn how to make money by flipping items.

 

8. Transcribe audio or video content into text.

Transcription is when you turn audio or video content into a text document. You listen to what’s being said and type it up.

There are many businesses looking for transcriptionists too – since general transcriptionists convert audio and video to text for virtually any industry, there really isn’t a typical client. Some examples include marketers, authors, filmmakers, academics, speakers, and conferences of all types.

Beginning transcriptionists earn around $15 an hour and it goes up from there.

You can learn more in the Free General Transcription Mini-Course. In this course, you will learn what it takes to become a transcriptionist, how much money you can earn, how you can find jobs, and more.

 

9. Become a general proofreader.

Proofreading is one of the most flexible and detail-orientated home business ideas that work. All you need to work as a proofreader is a laptop or tablet, an internet connection, and a good eye for finding mistakes.

Proofreaders look for punctuation mistakes, misspelled words, lack of consistency, and formatting errors.

You take content that other people have written and then go over it with a fine-tooth comb. You might be proofreading blog posts, print articles, academic articles, website copy, ad copy, books, student papers, emails, and more.

In one year, Caitlin made slightly over $43,000 by being a freelance proofreader.

Caitlin put together a FREE 76-minute workshop, where she answers all of the most common questions about becoming a proofreader, and she even shows you how to use the most popular tools used by proofreaders around the world. You can sign up for free here.

 

10. Become a court transcript proofreader.

Becoming a court transcript proofreader is a more focused version of the last idea.

Here’s what it’s like:

“Court reporters use digital stenography machines in combination with computer-aided transcription software to write verbatim records of various legal proceedings. They report depositions, trials, hearings, arbitrations, case management conferences, compulsory medical examinations, examinations under oath, and pretty much any other type of legal proceeding. Because of the sensitive nature of legal proceedings, it’s imperative that as many errors as possible be eliminated from transcripts — an especially major error could ruin an entire trial!”

Due to this, many court reporters also use court transcript proofreaders.

There is more training that goes into becoming a court transcript proofreader, and that is why I separated it from the general proofreading job above.

Caitlin, mentioned above, also has a great FREE 7 day course just for people who are interested in becoming a court transcript proofreader.

 

Home business ideas with low startup costs

11. Become a podcast virtual assistant.

There’s a big demand for podcast virtual assistants right now.

This is because there are over 800,000 podcasts out there, and that number just continues to grow. Podcasts are still a pretty new area, and that opens the door for lots of home business ideas that help out with all of these podcasts.

While the podcast host is responsible for recording themselves, other tasks like editing and publication take time, so many podcasters outsource their work to freelancers or virtual assistants. Also, some podcasters may not know how to do those things, or they may choose to focus their time on other areas.

Some of the different services you can offer as a podcast virtual assistant include:

  • Audio editing
  • Marketing and promotion
  • Publication
  • Distribution
  • Show note creation

You can sign up here for free information that will tell you more about how to become a podcast VA. In this free resource, you’ll learn exactly what a podcast virtual assistant is, the services you can offer, and starting rates.

 

12. Write romance novels.

My friend Yuwanda Black has found one of the most interesting home business ideas – she writes romance novels, and in one month, she was able to make over $3,000!

With her free Making Money Writing Romance ecourse, she teaches you how to make money writing and self-publishing romance novels.

It is taught from first-hand experience, which Yuwanda has because she’s written and self-published 50 romance novellas since 2013. And, she continues to publish today.

 

13. Work as a Pinterest virtual assistant.

Working as a Pinterest virtual assistant is a growing field as more and more business owners are using Pinterest to grow their business.

Pinterest VAs help businesses improve their reach by doing things like:

  • Designing Pinterest images for a website
  • Helping business owners set up their Pinterest account
  • Scheduling pins because this can be time consuming for the average business owner
  • Brainstorming a marketing plan

Click here and click on “Free Training Workshop” to learn how to become a Pinterest virtual assistant and find your first client. In this free course, you’ll learn what you need to do to get started, what services to offer, and how much to charge as a Pinterest virtual assistant.

 

14. Work as a virtual assistant.

If you’re looking for home business ideas with low startup costs, then virtual assisting is a great one!

Virtual assistance is a field that is growing very quickly and it is one of the very popular stay-at home business ideas.

Not only does the internet allow us to complete more of our daily tasks online, more and more people are working online. This presents a good opportunity for more virtual assistants.

Virtual assistant tasks may include social media management, formatting and editing content, scheduling appointments or travel, email management, and more. Basically, you can get paid to do any task that needs to be done in someone’s business, but doesn’t need to be done by them.

If this is one of the home business ideas you’re interested in, I recommend checking out Jumpstart Your Virtual Assistant Business. In that link, you’ll receive a free worksheet and workbook that will help you decide what virtual assistant services you can offer (there are over 150 choices!).

 

15. Write your own eBook for work from home ideas.

Writing your own eBook is a great way to make money from home, and there is probably something super helpful that you could write about (even if you think otherwise!).

In fact, my friend Alyssa self-published her first book and has sold more than 13,000 copies.

She is now earning a great passive income of over $200 a day from her book ($6,500 in one month alone!).

Learn more at Self-Publishing Your First Book. This free series will teach you what it takes to publish a book, including the strategies used to launch a book, writing tips, and more.

 

What is the best home business to start? What are the most successful small businesses?

As you can see, there are plenty of different home business ideas out there, and this list is only scratching the surface. There are full-time home based business ideas, and then there are part-time business ideas.

The best business home based ideas are going to be different for everyone. For example, some people are naturally good proofreaders, while others will have a knack for finding the right items for reselling.

I would think about what kinds of things you’re good at, what interests you, the skills you already have, etc. That may narrow the choices down some. 

But, what I love about the home business ideas on this list is that the free courses and guides listed mean you can learn more about any of them without a big investment. You can explore ideas without feeling like you’re wasting your money.

What home business ideas are you interested in?

The post 15 Home Business Ideas & The Free Courses You Need To Get Started appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

What’s the Difference Between 401(k) and 403(b) Retirement Plans?

Investing in your retirement early is the best way to ensure financial stability as you age, especially when it comes to understanding various retirement options. Getting started may feel overwhelming — luckily we’re here to help. We help break down the difference between 401(k) and 403(b) accounts, and how they can impact your financial life.

You may already know the value in adjusting your budget to make saving for a rainy day a priority. But are you also prioritizing your retirement savings? If you’re just getting started in the workforce and looking for ways to invest in yourself, 401(k) and 403(b) plans are great options to know about. And, the main difference between a 401(k) and a 403(b) is the company who’s offering them.

401(k) accounts are offered by for-profit companies and 403(b) accounts are offered by nonprofit, scientific, religious, research, or university companies. To understand the similarities and differences between plans in depth, skip to the sections below or keep reading for an in-depth explanation.

How a 401(k) Works
How a 403(b) Works
The Difference Between 401(k) and 403(b)
The Similarities Between 401(k) and 403(b)
5 Ways to Grow Your Retirement Savings
What is a 401(k) and 403(b)
$19,500 with your employer matches. Plus, most retirement funds have required minimum distributions (RMDs) by the time you turn 70. This essentially means you have to take a minimum amount of money out each month whether you want to or not.

In most cases, employers will offer 401(k) matching to encourage consistent contributions. For example, your employer match may be 50 cents of every dollar you contribute up to six percent of your salary. For example, with this employer match on a $40,000 salary, you would contribute $200 and your employer would contribute an additional $100 each month. This pattern would continue until your annual contributions hit $2,400 and your employer contributes $1,200.

Employee matching is essentially free money. You’re monetarily rewarded for your retirement payments. Be sure to pay attention to vesting periods when setting up your employer match. Vesting periods are an agreed amount of time you need to work at a company before you receive your 401(k) benefits. For example, some companies may require you to work for their team for a year before earning retirement benefits. Other employers may offer retirement benefits starting the day you start working with them.
403(b) accounts include school boards, public schools, churches, hospitals, and more. This type of account is also known as a tax-sheltered annuity plan — they allow pre-tax income to be invested until taken out.

Employers that offer 403(b) retirement plans may offer a pool of provider options that undergo nondiscrimination testing. This allows employers that qualify for this account to shop around for plans that offer the best benefits and don’t discriminate in favor of highly compensated employees (HCEs). For instance, some 403(b) accounts may charge more administrative fees than others.

Employers are able to offer employee matching on 403(b) accounts if they decide to. To cut costs for nonprofit companies, 403(b) retirement plans generally cost less than 401(k) accounts. Costs associated with starting up these accounts may not affect you, but it may affect your employer.

Account Type 401(k) 403(b)
Yearly Contribution Limit $19,500 $19,500
Employer-Issued Packages For-profit employers:
Corporations, private establishments, etc. and sole proprietors
Non-profit, scientific, religious, research, or university employers:
School boards, public schools, hospitals, etc.
Minimum Withdrawal Age 59.5 years old 59.5 years old
Early Withdrawal Fees 10% penalty, tax, and additional fees may vary 10% penalty, tax, and additional fees may vary
Source: IRS.org

 

The Differences Between 401(k) and 403(b)

Both a 401(k) and 403(b) are similar in the way they operate, but they do have a few differences. Here are the biggest contrasts to be aware of:

  • Eligibility: 401(k) retirement plans are issued by for-profit employers and the self employed, 403(b) retirement plans are for tax-exempt, non-profit, scientific, religious, research, or university employees. As well as Hospitals and Charities.
  • Investment options: 401(k)s offer more investment opportunities than 403(b)s. 401(k) accounts may include mutual funds, annuities, stocks, and bonds, while 403(b) accounts only offer annuities and mutual funds. Each employer varies in retirement benefits — reach out to a trusted financial advisor if you have questions about your account.
  • Employer expenses: 401(k) accounts are generally more expensive than 403(b) accounts. For-profit 401(k) accounts may pay sales charges, management fees, recordkeeping, and other additional expenses. 403(b) plans may have lower administrative costs to avoid adding a burden for non-profit establishments. These costs vary depending on the employer.
  • Nondiscrimination testing: This form of testing ensures that 403(b) retirement plans are not offered in favor of highly compensated employees (HCEs). However, 401(k) plans do not require this test.

 

The Similarities Between 401(k) and 403(b)

Aside from their differences, both accounts are set up to aid employees in retirement savings. Here’s how:

  • Contribution limits: Both accounts cap your annual contributions at $19,500. In the event you contribute over this limit, your earnings will be distributed back to you by April 15th. If you’re under your retirement contributions by the time you’re 50 years old, you’re allowed to make catch-up contributions. This means that, if you’re eligible, you can contribute $6,500 more than the yearly contribution limit.
  • Withdrawal eligibility: You must be at least 59.5 years old before withdrawing your retirement savings. In the case of an emergency, you may be eligible for early withdrawal. However, you may be charged penalties, taxes, and fees for doing so.
  • Employer matching: Both retirement account options allow employers to match your contributions, but are not required to. When starting your retirement fund, ask your HR representative about potential benefits and employer matching.
  • Early withdrawal penalties: If you choose to withdraw your retirement savings early, you may be penalized. In most cases, you need a valid reason to withdraw your funds early. Eligible reasons may include outstanding debt, bankruptcy, foreclosure, or medical bills. In addition, you may be charged a 10 percent penalty fee, taxes, and other fees. During a downturned economy, as we’ve seen with the COVID-19 pandemic, fees may be waived.

5 Ways to Grow Your Retirement Savings
retirement plan options and their benefits. When employers offer retirement matches, consider contributing as much as you can to meet their match.

2. Set up Monthly Automatic Contributions

Save time and energy by setting up automatic contributions. You may feel less interested in contributing to your retirement as your payday approaches. Taking time to set up a retirement fund and budgeting for this change may be holding you back. To meet your retirement goals, consider setting up automatic payments through your employer. After a while, you may not even notice the slight budget adjustment.

3. Leverage Employer Matching

Employer matching is essentially free money. Employers may put money towards your future for nothing but your own contribution. This encourages employees to consistently put money towards their retirement savings. Not only are you able to earn extra money each month, but this “free money” will grow with interest over time. If you can, match your employer’s contribution percentage, if not more.

4. Avoid Early Withdrawal

Credit card balances, student loans, and mortgages can be stressful. Instead of withdrawing early from your retirement fund to pay for these, consider other debt payoff methods. If you’re eligible to withdraw from your retirement early, you may face penalty fees, taxes, and administrative expenses. This may hinder your savings potential or push back your desired retirement date.

5. Contribute Your Future Raises and Bonuses

If you’re saving less than $19,500 to your retirement fund this year, consider contributing more. If you earn a bonus or a raise, stick to your current budget and consider increasing your contributions. Ask your employer to increase your retirement payments right before you receive a bonus or raise. The more you contribute, the more interest you’ll accrue over time.

Whether your retirement funds are established through a 401(k) or a 403(b), these accounts offer you the chance to build your financial portfolio. Consistently funding your retirement account may better your financial plan and set you at ease. As your contributions age, so do your interest earnings. You’ll be able to make money on your pre-taxed income and set your future self up for success. Get started by checking in on your budget and carving out a specific amount to put towards your retirement each month.

The post What’s the Difference Between 401(k) and 403(b) Retirement Plans? appeared first on MintLife Blog.

Source: mint.intuit.com

20 Of The Best Entry Level Work From Home Jobs

Looking for entry level work from home jobs?

Are you wondering, “How can I work from home with no experience?”

I know it may seem like every job out there today requires several years of experience. This makes it very difficult to find a job, especially if you are brand new to the field and trying to get your start.

It can be difficult to find a way to make money from home when you are brand new, but it’s not impossible to find entry level work from home jobs.

Everyone has to start somewhere, and if you want to start working from home, then I have a great list of no experience work from home jobs for you to look into.

Now, just because these jobs, businesses, and ways to make extra money don’t require experience, it does not mean that they will be easy! Remember, good things don’t come easy.

You may have to learn a new skill, take a course, and so on.

Also, please remember that entry level means you are starting from the bottom and working up. That means it may take a while to establish yourself. Still, there is room to grow in many of these jobs.

What you’ll find in this list of entry level work from home jobs are new careers and businesses you can start without having a college degree or years of experience.

There are many ideas on this list that involve starting a freelance career by using existing skills, like if you have a good eye for spotting grammar and punctuation errors, then you may be interested in proofreading.

There are other ideas on this list that will require you to learn some new skills – all ones you can easily pick up online.

The most important part is that all of these jobs are 100% work from home ideas. Yes, these are all jobs you can work from the comfort of your own home, while you travel, etc.

Finding a work from home job can be a great way to make money.

After all, it’s what I do, and I love it!

And, there are so many different options depending on what you are looking for. You may be able to find entry level work from home jobs that are part time, full time, that work while you are traveling, and so on.

Plus, many of the entry level jobs from home on my list allow you to have a more flexible schedule, where you may be able to choose the days you work, your hours, and more.

So, if you are looking to start making extra money or if you want a new career path that lets you earn money from home, this list is especially for you.

Before you’re scared off by any of these ideas, please remember that you don’t need to be an expert in any of them right now. As with any new job, you learn as you go and can find training as well.

Related content on entry level work from home jobs:

  • 12 Passive Income Ideas That Will Let You Enjoy Life More
  • 15 Of My Best Working From Home Tips So You Can Succeed
  • 15 Outdoor Jobs For People Who Love Being Outside
  • 15 Home Business Ideas & The Free Courses You Need To Get Started

Below are 20 entry level work from home jobs.

 

1. Create a blog to earn an income.

If you’re looking to work from home, I recommend that you think about starting a blog.

You don’t need previous experience, and most bloggers are brand new to blogging anyways!

I was brand new when I started my blog many years ago, and I learned everything I know along the way.

I read lots of online articles written by other bloggers who were once in the same spot I was, and I have also taken several great courses to help me improve my blog over the years.

I created Making Sense of Cents in 2011, and since then, I have earned over $5,000,000 from my blog.

Blogging allows me to travel full-time, have a flexible schedule, and I earn a great income doing it.

My blog was created on a whim as a way to track my own personal finance progress. When I first started my blog, I honestly had no clue what I was doing. I didn’t even know that people could make money blogging!

One of the reasons that blogging is one of the best entry level work from home jobs is because blogging is quite affordable to start.

You can easily learn how to start a blog with my free How To Start a Blog Course.

Here’s a quick outline of what you will learn:

  • Day 1: Reasons you should start a blog
  • Day 2: How to determine what to blog about
  • Day 3: How to create your blog (in this lesson, you will learn how to start a blog on WordPress – my tutorial makes it very easy to start a blog)
  • Day 4: How to make money blogging
  • Day 5: My tips for making passive income from blogging
  • Day 6: How to grow your traffic and followers
  • Day 7: Miscellaneous blogging tips that will help you be successful

 

2. Sell items through Amazon.

Yes, you read that correctly. You can sell items on Amazon while working from home.

Even if you have no experience, you can earn money selling all kinds of items on Amazon, from books, work out equipment, electronics, and more. 

Amazon has many people who sell items and earn money from home. Most have no experience selling things online or have ever worked at Amazon.

Jessica Larrew, of The Selling Family, is a friend of mine, and she and her family started selling things on Amazon FBA a few years ago without any experience – they made over $100,000 profit in their first year! And, they were working less than 20 hours a week total.

Jessica now has a FREE 7 day course that will teach you everything you need to know in order to start selling on Amazon. I recommend signing up for it now!

I interviewed Jessica in How To Work From Home Selling On Amazon FBA, and we talk about:

  • How Jessica started selling on Amazon FBA
  • What exactly Amazon FBA is
  • How to choose what to buy and sell
  • How much a person can expect to earn
  • The positives of selling on Amazon, and more

 

3. Teach English online.

This one will probably surprise you, but there are entry level work from home jobs where you teach English to kids in other countries. You don’t need to have been a teacher or speak a language other than English.

The requirements are that you have experience working with kids. That can include mentoring, tutoring, coaching, babysitting, or being a parent.

That’s a pretty easy requirement, though!

You can typically earn around $14 to $22 per hour by teaching English online.

Learning how to teach English online has become extremely popular, making it one of the best online jobs from home for many good reasons – it’s flexible, there’s a high need for teachers, and it pays pretty well.

My top three picks are ones my readers have recommended and ones I have researched:

  1. VIPKID
  2. Qkids
  3. Education First

Learn more at Make Extra Money By Learning How To Teach English Online.

 

4. Tutor from home.

To go along with the above, you can also work from home as an online tutor.

Course Hero is a website that has entry level work from home jobs where you help high school and college students with course-specific questions.

Course Hero was founded in 2007 and is an online learning website where students can find tutors and search by their specific school to find study guides, videos, practice problems, class notes, and step-by-step explanations.

Using the website, students connect with Course Hero tutors on a wide range of subjects and classes, which makes this a great option for people with different educational backgrounds and experience.

What might surprise you to learn is that you don’t need to have experience as a tutor, professor, or teacher in order to become a Course Hero tutor.

However, you will need to share information that proves you have expertise in the subjects you would like to help students with, such as degrees or previous work history.

Tutors earn an average of $3 for each question they answer on Course Hero. Earning between $12-$20 per hour, Course Hero tutors earn an average of $300 a week.

Here’s how this online tutoring job work:

  1. You apply here to become a Course Hero tutor
  2. When you are available to answer questions, you do so on the Course Hero website
  3. You get paid

Learn more at How To Make $300+ Weekly As An Online Tutor With Course Hero.

 

5. Become a virtual assistant.

Several years ago, I was a virtual assistant.

I had no previous experience, and I simply learned skills as I worked.

Virtual assisting is a field that is growing a lot, and there are lots of entry level work from home jobs as a virtual assistant.

Virtual assistant (VA) tasks may include social media management, formatting and editing content, scheduling appointments or travel, email management, and more. Basically, you can get paid to do any task that needs to be done in someone’s business, but doesn’t need to be done by them.

My friend Kayla is a full-time blogger, virtual assistant, and project manager who earns over $10,000 per month while working from home. She is also the founder of $10K VA, a course where she teaches exactly how you can make a consistent $10,000 per month as a virtual assistant!

Kayla used to work a full-time job as a credit analyst, earning about $2,000 per month. She was struggling to make ends meet while paying off debt, so she started a side hustle as a virtual assistant.

I interviewed her at How Kayla Earns $10K/Month From Home as a Virtual Assistant, and we talk about:

  • The amount of money a beginner virtual assistant can expect to earn
  • How to find your first virtual assistant job
  • The steps to become a virtual assistant without previous experience
  • Her best tips for being a virtual assistant

And more!

 

6. Evaluate Google’s search engine results.

A Search Engine Evaluator (also known as a Google Rater) is where you rate websites based on their quality and usefulness.

You are rating websites to help Google improve their search engine results.

This is one of the entry level work from home jobs that almost anyone can do – you don’t need to be a technical person in order to make money as a search engine evaluator.

Another great positive is that you can work in the language of your country, as Google operates in nearly every country around the world.

Learn more at How To Become a Search Engine Evaluator.

 

7. Manage Facebook advertising for small businesses.

Did you know that you can make a living from Facebook? With Facebook advertising, you can help businesses expand their reach.

And, yes, this is a skill that you can learn!

Last year, business owners spent over $88,000,000 per day on Facebook ads. This is expected to continue to grow, and it is one of the largest advertising spaces that exists.

My blogging friend Bobby Hoyt knows a lot about this topic. Bobby is a former high school teacher who paid off $40,000 of student loan debt in a year and a half. He learned how to run Facebook ads on his own to earn extra money. Bobby now runs the personal finance blog Millennial Money Man full-time, as well as a digital marketing agency for local businesses that he started in 2015.

I interviewed Bobby about entry level work from home jobs running Facebook ads, and in our interview, you will learn:

  • How he started earning income through running Facebook ads
  • Why small businesses want Facebook ads
  • How a person can find their first Facebook ads client
  • How much you can make doing this type of work – the average is around $1,000 extra a month per client

Also, Bobby has a free webinar on this topic too. His webinar (you can sign up here) will teach you how to start this business even if you’re brand new, how to find paying clients, and more.

 

8. Get paid to share your opinion.

This isn’t exactly a job, but it is a way to make extra money.

And, you don’t need any previous experience.

Yes, you can get paid to share your opinion!

Companies use surveys all the time to learn what their current and potential customers think of their products, services, and company. With the surveys you take, companies get valuable opinions on how to improve their products, and that’s what they are paying you for.

Below are the survey companies I recommend:

  1. American Consumer Opinion
  2. Survey Junkie
  3. Swagbucks
  4. InboxDollars
  5. Opinion Outpost
  6. OneOpinion
  7. Pinecone Research
  8. Prize Rebel
  9. Product Report Card
  10. Survey Club

 

9. Create an online store of your own.

This is one of the entry level work from home jobs that many people are surprised to hear about. But yes, you can start your own online store, and you don’t need to have tons of experience or a lot of money to do so. Many people start with absolutely no background.

I had the opportunity to interview Jenn Leach of E-commerce and Prosper, who explains exactly how to start an online store.

Jenn is a corporate mom turned e-commerce store owner and blogger.

She started her online business a little over three years ago, and since then, she has developed and grown three successful online e-commerce stores earning an average of $19,000 per month.

She is super successful despite only spending around 5-10 hours per week on her e-commerce business.

You can read our interview at How Jenn Makes Over $10,000 A Month With Her Online Store In Less Than 10 Hours Per Week.

 

10. Start a bookkeeping business.

I’m sure you’re surprised to hear that bookkeeping is an area with entry level work from home jobs, but it definitely is.

A bookkeeper is someone who tracks the finances of a business, handles billing and payments, making spreadsheets, etc., but that doesn’t mean you need to be an accountant or have any related experience.

Ben, from Bookkeeper Launch, helps people get started as bookkeepers even when they don’t have any experience. Ben is a CPA who founded his business after realizing that many businesses needed better bookkeepers. 

In our interview, we talk about:

  • What a bookkeeper is
  • The typical clients a bookkeeper has
  • How much new bookkeepers earn
  • How to become a bookkeeper
  • The positives and negatives of bookkeeping

You can read all of his answers and more in our interview Make Money At Home By Becoming A Bookkeeper.

Also, you can sign up here for a free series that will teach you more about running your own virtual bookkeeping business.

 

11. Find stuff to resell.

This is one another one of the entry level work from home jobs that anyone can start. That’s because we all have lots of stuff in our house that we can probably sell online.

Have you ever found something that you thought you may be able to resell and actually make some money?

Melissa’s family earned $133,000 in one year through buy and sell flipping, and they were working only 10-20 hours per week.

Yes, just 10-20 hours a week!

Some of the best flipped items that they’ve sold include:

  • An item that they bought for $10 and flipped for $200 just 6 minutes later
  • A security tower they bought for $6,200 and flipped for $25,000 just one month later
  • A prosthetic leg that they bought for $30 at a flea market and sold for $1,000 on eBay the next day

You can learn more at How Melissa Made $40,000 In One Year Flipping Items.

 

12. Write online as a freelancer.

I know so many people who have found entry level freelance writing jobs. You don’t need a background in writing or a degree in English or creative writing.

A freelance writer is someone who writes for a number of different clients, such as websites, blogs, magazines, advertising companies, books, and more. They don’t work for one specific company, rather they work for themselves and contract out their writing.

My friend Holly from EarnMoreWriting.com (as well as the popular personal finance blog Club Thrifty) is a very successful freelance writer and has earned over $200,000 writing online!

Her freelance writing course includes nine video modules, several printable worksheets, and awesome add-ons, too. Here are some of the things you can expect to learn if you take her freelance writing course:

  • Discover the #1 most important thing you can do to get paid writing jobs
  • Learn how to find entry level work from home jobs as a writer and move up over time
  • Learn how price affects the amount of work you get
  • Learn which types of jobs help Holly earn the most pay, and where you can find them
  • Find out which online platforms work best for finding paid work, and how to use them
  • Learn how to structure your work day to earn six figures or more

Learn more at How I Earn $200,000+ Writing Online Content.

 

13. Transcribe audio or video into text.

Transcription is the art of turning any audio or video content into a text document.

There are many businesses looking for transcriptionists too – since general transcriptionists convert audio and video to text for virtually any industry, there really isn’t a typical client. Some examples include marketers, authors, filmmakers, academics, speakers, and conferences of all types.

Beginning transcriptionists earn around $15 an hour to start.

There are many transcriptionist jobs that don’t require experience, and most transcriptionists learn more and improve their skills as they work.

You can learn more about becoming a transcriptionist in the interview Make Money At Home By Becoming A Transcriptionist. The interview explains:

  • What a transcriptionist is
  • How you can get started as a transcriptionist
  • What kind of money you can expect to make
  • The type of training you need, and more

 

14. Find proofreading jobs online.

Finding entry level proofreading jobs online is very possible.

All you need to work as a proofreader is a laptop or tablet, an internet connection, and a good eye for pointing out mistakes.

Proofreaders look for punctuation mistakes, misspelled words, lack of consistency, and formatting errors.

In 2014, Caitlin made slightly over $43,000 by being a freelance proofreader.

You’ll learn more about this in my interview with Caitlin that I link to below, but proofreaders take content that other people have written and then go over it with a fine-tooth comb. You might be proofreading blog posts, print articles, academic articles, website copy, ad copy, books, student papers, emails, and more.

This job is for a very specific type of person who LOVES to correct grammar or makes a note of spelling mistakes on a restaurant menu… it takes a certain “eagle eye” ability to be good at proofreading!

I interviewed Caitlin on what it takes to become a proofreader, and in our interview we go over questions such as:

  • What a proofreader does
  • How much proofreaders earn
  • How quickly a person can start making money as a proofreader
  • The steps needed to become a proofreader

You can find out about entry level work from home jobs and more at How To Become A Proofreader And Work From Anywhere.

Caitlin has put together a FREE 76-minute workshop, where she answers all of the most common questions about becoming a proofreader, and she even shows you how to use the most popular tools used by proofreaders around the world. You can sign up for free here.

 

15. Learn how to become a scopist.

Scoping is when you are editing legal documents for court reporters. This is different from proofreading for court reporters.

I interviewed an expert on the topic – Linda from Internet Scoping School. She has been scoping for over 35 years and has taught scoping online for around 20 years.

She also has a free course that will introduce you to scoping so that you can decide if it’s one of the entry level work from home jobs you want to pursue. You can find the free course by clicking here.

Scopists who are working with an average court reporter tend to make around $30,000 to $45,000 per year working pretty much full-time.

You can learn more at How To Become A Scopist.

 

16. Assist with podcasts.

Currently, there’s a huge demand for podcast virtual assistants.

There are over 800,000 podcasts out there, and that number just continues to grow. Podcasts are still a pretty new area, and that opens the door for lots of new entry level work from home jobs helping with all of these new podcasts.

While the podcast host can record themselves, other tasks like editing and publication take time, so many podcasters outsource their work to freelancers or virtual assistants. Also, some podcasters may not know how to do those things, or they may choose to focus their time on other areas.

Some of the different services you could do as a podcast virtual assistant include:

  • Audio editing
  • Marketing and promotion
  • Publication
  • Distribution
  • Show note creation

Learn more at How I Make $1,500 A Month As A Podcast Virtual Assistant.

Also, you can sign up here for free information on learning more about how to become a podcast VA. In this free resource, you’ll learn more about what exactly a podcast virtual assistant is, the services you can offer, and starting rates.

 

17. Work as a freelancer.

Freelancers are people who work for others by doing part-time jobs. A business may hire you on for one-time gigs or you may get a long-term job with a company as a freelancer.

In addition to some of the freelance jobs I’ve already mentioned (writing, proofreading, transcribing, and bookkeeping) there are even more entry level work from home jobs out there for people who are able to leverage existing skills, like:

  • Graphic design
  • Web design and development
  • Video editing
  • Sound design
  • Search engine optimization (SEO)
  • Programming
  • Photography

This is one of the best work from home jobs because you can use a skill you already have and start finding work on job platforms like UpWork and Fiverr.

 

18. Find a work from home job in customer service.

Many large companies outsource their customer service departments to people who are working from home. 

Customer service representatives may be responsible for a number of things, such as:

  • Working at an online call center
  • Working as a chat agent
  • Offering technical support
  • Virtual assistant tasks
  • Working as a travel agent

This is becoming one of the best entry level work from home jobs because the number of large companies who need online customer service reps is growing. Companies like Apple, American Express, UHAUL, and more offer basic training for new hires.

 

19. Secret shop.

Funny enough, many people think that you have to “know someone” or have previous experience in order to become a mystery shopper.

But, that’s not the truth at all.

You don’t need any previous experience in order to become a secret shopper.

This won’t be a full-time job, but it can give you some extra money each month. And, yes, there are some mystery shops that can be done by phone and online.

I remember when I first heard of being a secret shopper. I was working at a retail store and we regularly had mystery shoppers come in to grade how we were doing. We never knew who the mystery shopper was, but we would get to read their report afterwards.

I thought it was so interesting that people were getting paid to shop!

Not long after hearing about it, I decided to try mystery shopping to make extra money to help pay off my student loan debt.

I regularly earned around $150 to $200 a month mystery shopping, and I earned free items/services as well, such as $100 to spend at restaurants (which I had to grade while I was there), makeup, and more.

If this sounds interesting to you, you can join Bestmark by clicking here. This is my favorite mystery shopping company, and the only one I used back when I was mystery shopping, so I know it’s legitimate.

Learn more at Want To Make An Extra $100 A Month? Learn How To Become A Mystery Shopper.

 

20. Become a voice over actor.

A voice over actor is the person you hear but rarely see on YouTube videos, radio ads, explainer videos, corporate narration, documentaries, e-learning courses, audiobooks, TV commercials, video games, movies, and cartoons.

This job doesn’t require previous experience or special skills – you just need to have the right kind of voice that companies are looking for.

In 2014, Carrie replaced her salaried day job to become a full-time voice over actor. People are constantly asking her how she got her start and how they can too.

So, she created a six-week online class, and it sold out. Several of her students booked voice acting jobs before the class was even over!

I was excited to learn more about this work from home job, so I interviewed Carrie to learn:

  • How she got into this interesting career field
  • Who the common clients are
  • How much money a beginner voice over actor can expect to make
  • The positives of this job
  • How to find your first job
  • The costs, and more

You can read my interview with her at How To Become A Voice Over Actor And Work From Anywhere.

 

How can I make money from home with no experience?

As you can see, there are many different options for you if you are looking for an online job or work from home business with no experience.

I hope you are able to find what works best for you and your situation.

What entry level work from home jobs would you add to the list above?

The post 20 Of The Best Entry Level Work From Home Jobs appeared first on Making Sense Of Cents.

Source: makingsenseofcents.com

Ways to Earn Extra Money for Paying Off Debt

Debt traps you in a seemingly endless cycle. More debt means more interest and less disposable income, which means you’re constantly fighting against the tide and are always one issue away from complete financial disaster. 

Once you start making repayments on this debt, there will be less interest to compound, which means the grip will loosen, you’ll have more breathing space, and you can look forward to a debt-free future.

In this guide, we’ll look at some of the ways you can earn extra cash to start clearing your debt, from acquiring additional work and responsibilities to making money-saving sacrifices.

Stop Wasting Money

The average American household wastes over $10,000 a year on unnecessary purchases. These purchases all fuel the economy and keep you and your family happy. But if you’re losing sleep because you have so much debt, it’s worth making these sacrifices to give you some peace of mind and build towards a better future.

Save on Grocery Bills

The average family spends between $300 and $500 a month on groceries and as much as 40% of this food goes to waste. The majority is fresh food past its expiration date but we also have a tendency to cook monster-sized meals that end up being thrown away.

To save money on your grocery bill, try the following:

  • Plan your shop carefully. Only buy fresh when you’re confident that the food will be eaten in the next day or two.
  • Reduce your portion sizes when cooking. It’s okay to err on the side of caution and make more than needed, but to cook double or triple what will be eaten is just wasteful.
  • Don’t worry too much about best-before dates. It doesn’t mean the food should be thrown away, just that it’s not at its best. The same applies to lots of fresh fruit and vegetables. In this case, you can rely more on the squeeze and sniff test.
  • Cook food that is about to expire and would otherwise be thrown out. You can freeze the meals for later. You can also try picking, preserving or juicing to reduce waste.

Eating Out

On average, American families spend close to $3,000 a year eating out. It’s a great way to spend time with the family or have a date night with your partner. However, if you have a lot of debt then $3,000 worth of restaurant visits is a little excessive. 

Stop spending so much money eating out and focus on some cheaper alternatives. A picnic is a great alternative. You can use some of that uneaten food and spend time with the family without paying a small fortune for the pleasure.

Stop the Vacations

Big families take one vacation a year on average and this costs them between $4,000 and $5,000. The more children you have, the more expensive it becomes. What’s more, around a third of these families will take as many as three additional, smaller vacations every year, potentially spending over $7,000.

Don’t sacrifice spending some time with your family but look for cheaper options instead. Choose a small cabin instead of a plush hotel. You can go for walks, play games, swim, hike—all free activities that could bring you even closer and cost even less.

Hold the Vices

Thousands are spent on cigarettes and gambling, and much more is spent on shopping sprees. If you have any of these habits, it’s time to put a stop to them. We don’t need to tell you about the benefits of stopping smoking or giving up those shopping sprees, but if you’re still not convinced about the gambling, then spend a few months recording every single dollar that you bet.

Most gamblers think they are breaking even or only losing a little, but when they monitor their activity, they discover they are actually losing a lot.

Check Your Subscriptions

According to a recent survey, most Americans underestimate how much money they spend on subscriptions. We’ve turned into a nation of subscribers, spending hundreds of dollars a month on dozens of services we barely use.

We pay for cable, streaming services, gyms—we convince ourselves that it won’t matter as it’s only a few dollars, but those costs can add up to a lot of wasted cash at the end of the year.

Sell Your Stuff

Many sites can help you offload your unwanted items. There’s a home for all the things you no longer need, from electronics and video games sold on eBay or Amazon, to clothes and furniture sold through sites like Craigslist, Facebook Marketplace, and Swappa. 

It’s time to let go, stop hoarding, and earn some cash from the things you don’t need. Be honest with yourself and get rid before the value of those items depreciates more and you end up with worthless, dust-covered junk that just takes up space.

As an example, let’s imagine that you have a dozen old video games worth just $5 each on average, 10 old school textbooks worth just $2 each, a couple of furniture pieces worth $10, an unwanted guitar worth $50, and a couple of handbags worth $25 each.

Individually, those items aren’t worth much and you might think they’re not even worth your time trying to sell them, But combined, you’ll get $200 and if you put that towards a high-interest credit card debt, it could save you twice that in interest over the term. You will also free up some space in the process.

Get Another Job

You know you can make more money by asking for a pay rise. It goes without saying. The problem is, life isn’t quite that easy and, in most cases, asking for a pay rise will elicit little more than a short, sharp laugh from your employer. 

However, there are many ways you can earn money from a side hustle, taking advantage of the gig economy and swapping a little talent, a little time, and a lot of hard work for some cash.

Get a Part-Time Job

There is a multitude of ways you can earn some extra cash these days. The pay isn’t always great, but if you’re working towards clearing your debts and have some free time, every dollar helps.

Uber and Lyft are always looking for new drivers; retailers need shelf-stackers and greeters, and there is no shortage of delivery jobs. Review your free time, calculate when you can work, and see what’s available. 

Teach a Skill

Can you play a musical instrument or speak a second language? Do you have some other teachable skill? It has never been easier to make money as a part-time teacher, as sites like Preply.com, Udemy.com, Tutor.com, Noodle.com, TakeLessons.com, and many more bring all of these opportunities to you. 

You can visit the student’s house, invite them to yours or simply conduct the lessons via Skype or the site’s built-in conferencing software.

Freelance

Upwork.com, Guru.com, Fiverr.com—these sites and more have created a world of possibilities for skilled writers, designers, coders, and other experts. But they offer so much more than that. 

You don’t need to be particularly skilled to work on these sites as the pay is scaled based on ability and experience. If you have a little free time and some competent language skills, you can hire yourself as a virtual assistant to do basic admin work.

There are countless entrepreneurs seeking individuals to complete basic tasks such as transferring data, reviewing images, and answering emails. The pay isn’t great if your skills are limited, but you get to work from home on your own time. 

Cover the Basics

Freelancing and teaching may be out of the question if you don’t have any skills and are not computer literate. But there are still a few other options, including dog walker, lawn mower, babysitter, and general handyman. 

Ask your neighbors, friends, and family if they need any work; check Craigslist and local classifieds. Everyone can do something and there are always odd jobs available if you’re willing to work.

Try Some Other Methods

When the ordinary fails, it’s time for the extraordinary. There are some weird and wonderful ways you can make extra cash when needed.

Sell Your Hair

If your hair is long and untreated, you could make a tidy sum by selling it. Good quality human hair is used to make premium wigs and some companies are willing to pay thousands for the right locks. However, there are some strict conditions, such as the fact that it must be untreated and very well looked after.

House Sit

Sites like Thumbtack can connect you to homeowners looking for skilled workers, as well as people willing to look after their homes and belongings. They will pay you to stay in their homes and perform some basic chores while they’re away, such as watering plants, feeding pets, and mowing the lawn.

Make Something

If your skills are practical and not creative, turn your hand to making things and sell them through sites like Etsy, Facebook or your own online store. The world has been obsessed with single-use plastics for many years and it’s now waking up to the damage that has been done. Many consumers are willing to pay extra for something that has been handmade and is unique, especially if the money supports an independent creator.

Grow Your Own

If you have a yard and some free time, start growing some produce. Crops like potatoes, carrots, greens, and even some fruits are easy to grow and can give you a bumper crop every year. You’ll pay a few cents for the seeds and simply need to devote some time to digging, watering, and harvesting.

Think about how much money you’ll save if you have your own supply of vegetables and fruits and can just pick fresh from the yard whenever you’re cooking. If your family eats a lot of cheese or drinks a lot of wine or beer, you can also start producing your own supply. 

Cheese can be made with a lot of milk, a little rennet, and a few simple steps. Beer can be made using some do-it-yourself kits. 

As for wine, it’s one of the easiest things you can make yourself. You don’t even need grape juice as wine can be made from a multitude of fruit juices, vegetable juices, and more. You can even make a strong, fragrant white wine with a handful of fruit teabags. The only expense is the sugar, which means you can make several dozen bottles worth of wine for less than $10.

Join a Clinical Trial

Although it’s not a method we would recommend, it’s one that’s worth including. If you join a clinical trial, you’ll be paid to act as a guinea pig. The good news is that the majority of these trials run without incident and most subjects are as healthy at the end as they were at the beginning. The bad news is that there is always a risk and there’s no telling what will happen.

You can search for available trials on the Clinical Trials website run by the US National Library of Medicine. 

Summary: Paying Off Your Debt with Extra Money

Your first priority is to meet your minimum payment obligations and avoid any missed payments. Once you meet this obligation every month, you can put any extra cash you have towards clearing those debts. Every little helps, even if it’s just $50 or $100 here and there.

As an example, if you have a credit card debt of $10,000 with an APR of 25% and a minimum payment of $300, you’ll repay $17,251 in total over 58 months. Add just $100 a month and you’ll reduce the term by a whole 12 months and the balance by a massive $3,000. Take a look at our guides to the Debt Snowball Method and the Debt Avalanche Method to find the right payoff strategy for you. Both methods rely on you earning some extra cash and now that you’ve made it to the end of this article, you’ll know just how to do that!

Ways to Earn Extra Money for Paying Off Debt is a post from Pocket Your Dollars.

Source: pocketyourdollars.com