Money Making Strategies You Can Adopt

September 14, 2013 by: 1

Economy is facing a devastating fall in recent days across the whole world. The fall in economy is marked by increased product rate and reduction in people’s buying capacity. In order to counter the recession that is prevailing throughout the world, certain money making strategies need to be followed which can support the individual income from draining away. Having an extra income source secures you from future financial crisis and also make you independent. Part time jobs support the students and people searching for a full time job. In addition, online jobs keep you updated about current trends and advancements happening in the world. Here are 5 money making strategies that can help you to support your income.
• Writing articles online
• Advertisement posting and viewing
• Forex trading
• Enrolling in online surveys and focus groups.
• Internet marketing.

Among the above said mentioned ways, Writing articles and participating in surveys does not require much experience or expertise, whereas the other ways require more experience and expertise to succeed in it.

Writing Articles online:

Writing articles is one of the least risky and does not require any initial investment to begin with. But certainly it requires English knowledge and ability to research on the topics. To begin with this career, you need not be a native English speaker but you need to understand the topics from the readers’ point of view.

You may begin to create your own blog or website which enables you to write as you wish. But once you get into writing for particular web site or for request, you need to adhere strictly to the requirements mentioned by the clients. But it is suggested to write under requirement so that you will gain some experience about the exact job. This will assist you in setting up a new website or blog which eventually drags more visitors to your website.

Search online for the websites offering payment for articles. Some websites share the revenue of web traffic which is generated through viewing your article. The more your article is viewed, the more you are paid. Depending upon your level of writing, you may select the platform which is right for you. However, certain websites scrutinize your article thoroughly and may reject it even for your minor mistakes. Don’t lose your hope if any such thing happens to you. Try to increase the quality of your article and reach the requirements. Another foremost factor to be considered while writing articles is it should not be copied from any other website or it should not be an already existing one. Most of the articles writing sites ban you if they find you involved in plagiarism.

Online plagiarism check tools are available online through which you can check your content for presence of duplicates online. Grammar and spelling check can be performed through the document creation tools which you use for creating your article. Check the language settings before typing your article since the requirement may be either in US-English or British English and you have to be conscious about it.

Advertisement posting and viewing:

Another investment-less job is to view ad post advertisements online. It requires much patience and the income accumulation is also very slow in this strategy. Many standard websites offer paid advertisement viewing services. The payments are relatively low. You can boost up your earnings by switching to premium membership or by adding affiliates to your down-line. In the latter scenario also the affiliate members can be either referred by you or you can add them by paying for them. Advertisement viewing can serve as a source of extra income but you cannot rely solely on viewing advertisements.

Another way of earning through online advertisement is through posting advertisements in various websites. In this job you act a marketer and the number of clicks or views for the advertisements posted by you contribute to your earning. You have to device your own strategy to reach maximum views and increase the revenue. Free online classifieds can be utilized to reach maximum online target audience.

E-mails and social networking sites are other means of gaining audience through advertisement posting. But in such cases make sure that you are not spamming the target audience. Spamming through social networking sites or e-mails is highly undesirable which may end up in suspension of your account from the respective sites. In extreme cases, you may be filed accused for cyber-crime for spamming. Hence, extreme caution should be exercised while posting advertisements through social networks and e-mails.

Forex trading:

It is everyone’s wish to earn money without breaking even a drop of sweat. Recent advancements have made such dreams come alive, and forex is one of the options considered by people since it is considered as a treasure of money. Nevertheless, forex is lucrative and attractive only if you succeed in earning money. A successful forex trading fetch drenches you in money. A slip in forex trade ruins all your money and you may go bankrupt. Here are few tips for beginners to avoid pitfalls in forex.

1. Learn the basics:

An effective forex trading begins with learning the terminologies and techniques used in it. You may feel astray and may not find the reason for failure (if you fail) if you do not educate yourself with basics of forex. Being aware of the risks involved in a potential forex trading is a must.

2. Know your broker:

Selecting an appropriate broker to begin your forex trade is first thing in forex. A wide range of websites and online forums publish the reviews about forex brokers existing across the world. Have a thorough look on those review before joining hands with them for your trade. In addition, you may directly visit the brokers’ website or even register for a one to one telephonic interaction. Clarify yourself and make your mind free from all the doubts regarding their service. If you find anything is out of your track just abandon the broker and search for brokers who best suit your expectation.

3. Open a demo account to devise your strategy:

Everything is new until you get a hands-on experience over it. So, to make yourself comfortable, have some hands-on experience using the demo account offered by the forex broker. Getting into live account without any knowledge about the market may cause you to lose your money in a fraction of seconds. Get acquainted by placing the order according to the directions given by the broker.Though loss in the demo account may not affect you, try to end the order in profit and there lies the success of forex trading.

4. Don’t involve in rash trading:

Rash trading is a psychological condition observed in immature forex traders. You may feel excited when your order ends up earning you some profit. This makes you feel like you have mastered the entire forex strategies. Eventually, you feel like you mastered the forex strategies and place multiple orders to earn more profit. It is not advisable to involve yourself in rash trading. Having control over placing orders is crucial.

5. Begin with minimum investment:

It is true that having plenty of amounts in forex account provides maximum security. Higher investments buffer unexpected steep fluctuation and secure the account in that way. Even so, until mastering the forex strategies, it is better to keep your investments low (If you are wealthy, you may go for higher investments).

6. Learn Fibonacci series:

Mathematics plays a crucial role in devising forex strategies. Almost all the forex brokers provide trading signal to drive your trade in an apt way (They may charge extra cash for providing signals). However, it is dangerous to rely solely on the trading signals. Incorporating Fibonacci series in forex helps in tracking the market fluctuations and ensure the accuracy of signals provided by the brokers.

7. Follow up the news:

The political situations prevailing in national and international borders have a significant impact over the forex market. Hence, following the daily news feeds can also constitute effective forex strategy.
These are the elemental tips for a perfect immature forex beginning. You may succeed in forex trading if you lay a strong foundation in essential things about forex.Some countries ban forex trading considering its high-risk and volatility. Hence, make sure you are legally eligible to trade in forex before getting into it.

Enrolling in online surveys and focus groups:

Participating in online surveys and focus groups are another way of earning income online. Availability of surveys and focus groups may vary from country to country. Online survey works in such a way that the companies ask the survey sites to gather the requirements of the people so that they can acquire maximum features incorporated in their product and increase the sales of their product significantly. The companies also conduct the survey to know the experience and feedback of the customers so that they can rectify the feature in which they are lagging behind.

Focus groups are either online or offline community brainstorming which is spun-up around a particular theme to reach a conclusion. Focus groups are conducted by the industries for the purposes similar to that of surveying. Meanwhile, certain social and Non-governmental organizations conduct focus groups to know the root of social mishaps and solutions to overcome it. The payments for participating groups are high when compared to that of surveys. But surveys are more frequently conducted whereas the focus groups are occasionally conducted.

Internet Marketing:

Internet marketing is similar to that of advertisement posting but in this case you will be marketing products to the online purchasers. The purchases made through your marketing strategy fetches you a percentage from the sales. Similar to that of advertisement posting, Social networking sites and free classifieds sites can be used for internet marketing purposes.

Another way of internet marketing can be done through advertising your own website which contains advertisements of the products. In this strategy you can make money in two ways. Firstly, the company pays you for marketing their product. Secondly, the website traffic from your website generates revenue when you link your website with Google adsense or Chitika.
Precautions to be followed before adopting online money making strategies:
• It is risky to invest money in unfamiliar or disreputable website offering jobs. Check for the website ranking through Alexa ranking before providing any of your card details.
• Have a PayPal account (it is free) or any similar online banking accounts to receive payments (alert pay, money bookers, etc).
• Read the terms, conditions and security policies thoroughly before getting into any jobs requiring investments.
Online scams are more predominant and it is our duty to secure our money during online transactions. Hackers may steal your account security feature if you make your payment through insecure gateway. Websites offering insecure payment gate ways are fraudulent and beware of those scams. It is suggested to begin job with less or no investment.
If you are interested in writing blogs and articles try various platforms so that you can arrive at platform that suits you the best. You can try guest blogging sites as well which helps you to earn money even in your leisure time. Make sure you are updated with vocabulary and various style formats engaged in English language.
Proof reading, Translation and Transcription are other language related jobs which may help you to build a strategy for your online money making quest. Analyze your website thoroughly before working for them since your efforts may go into vain if they ignore or reject your piece of work for no reason.
Selling second hand products is also a noteworthy online income strategy which saves your time and effort of reaching appropriate customers and bring high selling price to your product. Almost all the above mentioned jobs can be boosted up if you have a website of your own. Having a website and updating it in regular intervals with recent advancements can keep you in competition and fetch more jobs. Design your own website or you may seek expert opinion to build it. But eventually, your website should be capable of generating traffic and help your business to grow. Research on the topic which is receiving maximum search hits in search engine and select your website niche accordingly. The contents occupying your website should be search engine optimized (SEO).

 
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