Earn Money Archives - Page 2 of 17

The Best Financial Books of 2021

09.16.2021 by Harry //

There are thousands of books out there about how to become better with finances, how to invest, and how to be okay with talking about money.

Listed below are books that will teach you how to go from living tightly with money to retiring debt and being worry-free. There are many books out there for those wanting to learn about finances!

Retire Before Mom and Dad: The Simple Numbers Behind a Lifetime of Financial Freedom by Rob Berger

Retire Before Mom and Dad is a book that teaches you how to improve your financial future by using psychology, finance, and self-help concepts. This is a great book for those that are just beginning to get into the world of personal finance or those that want to learn more!

Rob Berger is a litigation attorney and the founder of popular personal finance and investing website.

Rob’s goal is to help people achieve financial freedom by helping them live a life free of financial stress and worry by teaching them about wealth and living financially free.

In Retire Before Mom and Dad, Rob writes about the difference between a Roth 401K and a Traditional 401K, the ins and outs of investing, how to retire debt-free, and how to successfully and carefully analyze long-term decisions.

His simple approach and clear writing will teach you how to become financially wise and efficient, as well as how to invest and self-help. This is a great book for those just getting started in the financial world, or those wanting to learn more!

When She Makes More by Farnoosh Torabi

In When She Makes More, Farnoosh Torabi teaches the reader how to deal with income imbalances in relationships, and how to help women manage these circumstances that can have negative impacts.

Today, there are more women than ever working as the household’s top earners. However, they face higher risks of burning out, depressions, infidelity, and even divorce. Farnoosh uses her real-life experiences to connect the reader on a personal level.

Sold as a physical book or an audiobook, Farnoosh Torabi outlines rules to help her readers learn how to address financial imbalances that can affect relationships negatively and how to become okay with talking about these problems.

In When She Makes More, readers will learn how to deal with changes in dating and marriage in society, how to know when to let your significant other lead, and how to allow your significant other to become a stay-at-home parent without making their life too easy.

Broke Millennial: Stop Scraping By and Get Your Financial Life Together by Erin Lowry

Written for Millennials, Broke Millennial gives great insights on how to save money, handle student loan debt, negotiate a pay raise, and how to ‘adult’.

Erin gives humor and empathy a fun twist in Broke Millennials!

No one likes to think about money, especially when money is tight. In Broke Millennial, the reader will learn how to be okay with talking out loud about money and how to deal with it.

Described as refreshing and conversational, Erin relates to her audience in a way that will guide them to a path of financial wellness!

Written for Millennials, Erin doesn’t use boring language to talk about investing and credit card debt, but rather uses analogies to relate those topics to Tinder, dating, and marriage.

Erin even talks about how to manage student loans and what to do when your dining out with friends and can’t afford to split the bill.

Written by a millennial for a millennial, this is a must-read!

How I Invest My Money by Joshua Brown and Brian Portnoy

In How I Invest My Money, you will learn about 25 experts and how they invest, spend, save, and give their own money.

Joshua Brown and Brian Portnoy will teach you there is no right or wrong way to use your money!

Joshua and Brian talked to 25 different financial experts, including financial advisors, portfolio managers, and venture capitalists, and have turned their stories into essays about their lives, families, struggles, and aspirations.

https://www.harriman-house.com/Howinvestmoney

How I Invest My Money describes how there is no right or wrong way to handle your money, but rather use these stories to teach the reader how to figure out what works best for them.

You will read about different perspectives on bonds, stocks, funds, charity, and other means of achieving the life you have always dreamed of. How I Invest My Money will also teach your how to create and keep a healthy relationship with money and your values.

Spend Well, Live Rich by Michelle Singletary

In Spend Well, Live Rich, Michelle Singletary teaches the reader how to support a family while living on a budget.

Michelle also teaches the reader that it’s okay to not feel bad about not spending.

Michelle Singletary was raised by Big Mama, her grandmother who made $13,000 a year. Big Mama was the one who taught Michelle the “7 Money Mantras for a Richer Life.”

These mantras include “If it’s on your a$$, it’s not an asset,” “Sweat the small stuff,” Keep it simple,” and “Priorities lead to prosperity.”

How to Analyze Your Financial Upbringing

Check out our article on analyzing your own financial upbringing.

In Spend Will, Live Rich, Michelle teaches the reader how to teach children the value of money, how to become comfortable talking about money in relationships, how to save money as a household, and how to look for and get the best loans for your situation.

Summary

There are many resources to help you become comfortable with finances.

By becoming comfortable with your finances, you can have conversations about money in your relationships, learn how to save money as a household, and become okay with saying no. Start your journey to financial freedom today!

Is a Franchise a Good Business Opportunity?

08.23.2021 by Harry //

Instead of starting their own business, entrepreneurs may become a franchisee. The franchisee buys the rights to the franchisor’s license and they can then operate under the franchise’s name and use their successful business model.

With a proven successful model, franchisees are already a step further than if they were to start their own business from scratch.

Each franchise opportunity is different. The prominent factors that determine if franchises are a good business opportunity are:

Franchise Fees
Brand Potential
Profitability
Commitment
Geographical Availability

Now, let’s look at each factor individually.

Franchise Fees

What is the initial investment?

Setting up a franchise requires fees and upfront costs.

Upfront costs are needed by the franchisee as part of an investment. Depending on the company, this number can vary from hundreds to millions of dollars.

Ongoing fees like royalty fees (also referred to as franchise management or service fees) require the franchisee to regularly pay the franchisor, which helps to cover the support services the franchisor provides.

Brand Potential

How seen is the brand?

Take McDonald’s for example. It is undeniable how seen they really are. With franchises all over the world, their success continues daily, but this impacts how much you must invest.

McDonald’s requires millions of dollars to open a franchise. Although investing in larger corporations like McDonald’s reaps many benefits, it may not be attainable for you.

https://www.franchisedirect.com/ultimate-guide-to-franchising/franchises-vs-business-opportunities/

If it is a smaller brand, the initial investment may be lower, but you need to think about the brand potential. How seen is the brand? Does it have room for scalability?

Profitability

How profitable is the brand?

If they’re not worth much, it may not be the best investment.

To help determine a business’s profitability, you can examine the following:

Unit Growth: How many franchises do they have? How many of these have opened recently?
Success Rate: How successful are the new franchises? Are they struggling or are they making a profit?
Financial Evidence: Does the franchisor have sufficient financial evidence? Does it prove their successes?

Commitment

Investing in a franchise isn’t like any other business investment. They require you to be fully committed, take part in vigorous training and work for up to 80 hours per week. This of course depends on the franchise, but if you aren’t committed, your franchise won’t grow.

https://investorjunkie.com/entrepreneurship/do-franchises-make-good-investments/

If you lack the time or business experience, you could become a silent partner if you have the capital to invest. You can team up with someone to oversee the franchise and you could reap most of the profits.

Geographical Availability

Franchises are more likely to profit if there aren’t many of them in a specific location. You should find out from your franchisor whether the geographical location that you have in mind is suitable. If not, you may have to reconsider your options.

Top 10 Franchises to Buy

McDonald’s
7-Eleven
Dunkin’ Donuts
The UPS Store
Popeye’s
Sonic Drive-In
Great Clips
Taco Bell
Kumon Math and Reading Centers
Sport Clips

The Positives of Franchising

Franchising means that you don’t have to do it alone. By operating under an already established brand, you can offer products and services that people already know and love whilst having access to their resources.

Here are some positives of franchising:

Training: Franchisees will have access to training programs and ongoing opportunities that will help the success of their franchise.
Support: Franchisees will receive support and professional advice from franchisors and a team of qualified staff to assist them when needed.
Advertising and Marketing: Franchisees will have access to marketing research and strategies that they consistently use throughout all their franchises. This will also help to reduce costs by having readily available resources.
Equipment: You can rent or buy equipment that you may need. Some franchises offer payment plans to their franchisees which makes costs more manageable.
Hiring and HR: Franchisors should have hiring guidelines in place which detail what they expect from employees. This should help you to find suitable employees for your franchise.

The Negatives of Franchising

Whilst there are fewer negatives for franchising, they’re big ones! Becoming part of a franchise means that you’re part of a specific culture, and if that’s not what you want, then it could be a massive turn-off for you.

Limited Freedom: Whilst you have the rights to their license, you still must operate under their requirements. They don’t wish for you to change their model but to adhere to it.
Fees and Expenses: It’s safe to say that becoming part of a franchise can be a little pricey. From upfront costs to regular fees, you may not be able to keep up with all the costs that are needed to secure or maintain the franchise. Whilst money is no object for some people, others may have to take out loans to support them.

Conclusion

Whether franchises are a good business opportunity relies heavily upon you and your situation. Arguably, it depends on your financial situation and whether you can afford the initial investment costs and the costs thereafter.

If you carefully consider all these factors and think that it’s the right decision for you, then go for it!

Image credit:[:BADGSk3Wwk0]

The 3 Best Cash-Back Apps

06.09.2021 by Harry //

Nowadays, there a a million ways to make money online. You can take surveys, offer your skills, make videos, and so much more. I mean, it’s the internet!

But, did you know that there is a way that involves little effort and will actually earn you money just by shopping?

Yes, you do this by using cash-back apps. Here we will tell you everything that you need to know about these apps and let you know the 3 best cash-back apps.

What Is a Cash-Back App?

A cash-back app is a provider that gives you a rebate based on the products that you buy.

This may be in the form of money or a coupon for your next purchase. Some apps even have a points system through which you can redeem points for further discounts.

7 Best Cashback Apps That Everyone Should Use

The companies partner with many brands to save you money. If you buy anything from their partner brands, then they can offer you rewards. It is that simple.

How Do I Make Money Through a Cash Back App?

To make money through a cash-back app is simple. All you need to do is simply shop through the links provided by the app. This will then take you to their partner brands. When you buy anything from those brands, the app will know and compensate you accordingly.

https://dollarsprout.com/best-cash-back-apps/

This may be with money, vouchers, or points. Either way, it is a bonus for you.

The 3 Best Cash-Back Apps

Here we will run through the top 3 cash-back apps to help save you time and money.

Capital One Shopping

The Capital One Shopping app is completely free to download and quickly becoming the biggest cash-back app.

It offers several ways to save money. These include finding the best price for an item. If someone finds an item that you are looking at for a lower price the Capital One app will alert all of its users. This saves you the hard task of shopping around for the best deals.

You can alternatively simply scan a barcode and if the product can be found cheaper elsewhere the app will let you know.

The app automatically applies any coupons that it finds when you are checking out. This again saves you time (and hopefully money).

By using and shopping through the app, you earn points. These points can then be saved and used to buy gift cards to spend at a variety of brands.

Dosh

Using Dosh means that you earn money completely automatically. Dosh has major partners such as ASOS and Walmart, meaning that you can save money at places where you would normally shop. You will not need to go out of your way to spend money at lesser-known brands.

You simply need to link your card to your Dosh account and then when you spend money with your debit card, the Dosh app is notified.

There is almost no effort on your part!

However, Dosh also offers rewards for hotels. With over 60,000 participating locations worldwide, you can be sure that you are taking advantage of the app without going out of your way.

The final way to make the most of the Dosh cash back app is to refer a friend. You will have your own referral link to give to friends and when they sign up, you will earn a fixed amount.

Once your account reaches a minimum of $25, you can choose to transfer the money to your Paypal or Venmo account. Alternatively, you can donate to charity. The choice is yours.

Fetch Rewards

Fetch Rewards has your grocery shopping covered. If you prefer to shop physically in the store (and have a little extra time on your hands), then this is a good choice for a cash-back app.

You simply shop as normal and if you shop from a store that has partnered with Fetch Rewards, then you can claim rewards. You just have to scan your receipts into the app.

They partner with some of the biggest named brands such as Kraft, Knorr, and Lipton.

If you prefer shopping online, you will simply need to upload the receipt emailed to you instead.

Summary

Cash-back apps are a great way to save yourself a little bit extra. They help you to claim rewards for purchasing everyday items and shopping at stores where you normally would anyway.

These rewards can then be accrued to earn cash in the form of a transfer, vouchers, or even gift cards.

The ease of use of these cash-back apps means that you can spend more money on the things you love.

Image credit:[Pasja1000]