Monday Night Finance- Volume 35

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Accumulate Assets and Avoid Liabilities: Best Assets to Buy

I think everyone wants to have a secure financial future. Even if someone doesn’t want to get “rich”, I can’t think of anyone who wouldn’t be happier knowing that they had enough money for a roof over their head and food in their stomach. Eventually, we won’t be able to work and will need to achieve some sort of financial security where the money we made during our lifetime can supply us with our needs. (And hopefully some of our wants). This financial freedom requires that you accumulate assets during your life. But what are assets? And which ones should you buy?

The best assets to buy depend on your risk profile, time, knowledge and unique circumstances. Increasing your net worth should always be your primary focus. ~Financial Freedom Countdown

In this article, John of Financial Freedom Countdown does a deep dive into assets and liabilities and creates a ranked list of assets. If you’re just starting to learn about assets, the article has a great tutorial at the beginning. It lists liquid assets and explains the difference between stocks, bonds, certificates of deposit among other things. The asset list is comprehensive and includes items that may appreciate in value that may be hard to trade, such as collectables and commodities. On the other side of the equation are liabilities- or things that cost you money. These could be things such as your car or interest payments on debt. Finally, the article gives great advice for people wishing to grow their assets and rent our their liabilities to turn them into assets.

Unemployed? How to Turn Your Expertise into Cash

2020 has been a very tumultuous year. Millions of jobs have evaporated as the coronavirus forced people to stay at home and avoid crowds. At one point, unemployment reached levels not seen since the Great Depression. Did you lose your job this past year? Have you been looking unsuccessfully for a new job? In this article, Amy, from Early Morning Money talks about alternative ways to earn money until you’re able to get back on your feet.

Millions of Americans suddenly and unexpectedly lost their jobs as the pandemic ravaged the nation. No one could have predicted the economic impact and how many people would find themselves without a job. So, what do you do? You have two options: wait for life to throw you a bone or go out and make your own destiny. ~Early Morning Money

With the internet, there are many new avenues for making money. One of Amy’s top ideas was using an online teaching platform, such as Teachable, to create an online course and earn money by sharing your expertise. If you’re more into crafts than courses, you could try setting up a shop on Etsy. Finally, you could try picking up gig work on a website like Fiverr. Check out the article for even more possibilities.

19‌ ‌Ways‌ ‌to‌ ‌Get‌ ‌Free‌ ‌Money‌ for ‌‌Christmas‌ ‌

It’s only October, but Christmas advertisements are already showing up. Christmas is synonymous with gift-giving. And who doesn’t love showing their friends and family their love through the perfect gift? Unfortunately, many gifts cost money. And purchasing these gifts can add monetary stress on top of an already stressful 2020. In this article, Kyle, from Financial Wolves, breaks down nearly 20 different ways to get free money for Christmas.

Don’t we all want to spend extra on Christmas? However, you need extra money to spend on extra stuff. But don’t worry as free money Christmas is possible with these apps that we listed in this article. ~Financial Wolves

The easiest way to earn free money for the holidays is to get cash back on the purchases you already make. There are many cashback sites that provide this service. Maybe you’ve already heard of some like Rakuten or Ibotta. Another way to earn free money for the holidays is to perform small tasks like surveys in your free time. The article lists several possible websites and apps for this. According to the article, you can typically earn between 50 cents and 2 dollars for each survey. It’s also possible that someone owes you money and you don’t know about it. The article has a link to a “US unclaimed money search” website, which I had never heard about before. Finally- you could try to exchange some of your free time for money. Depending on your skills, you could try freelancing from home with a website like Fiverr or try delivering food with an app like DoorDash. If you have an asset like a home or a car, you could rent it out with an app like AirBnB. Check out the article for even more ways to earn extra cash for the Christmas season.