For those who feel they have saved as much money as possible on their current expenses but still want to build a mat or emergency fund, the 52-week money-making challenge is an excellent way to increase their income by nearly $1,400 ($1,378) in one Mid-year.
It does this by having participants participate in the challenge to find ways to see more and more money outperform normal income. In many ways, it’s like 52 weeks saving the currency challenge, with the focus on making money rather than saving money. There are three variants to try for the challenge.
Standard Challenge (click on the image to print)
The standard challenge is quite simple and clear. For the first week, you figure out a way to earn $1. Next week (week 2), you found a way to earn $2. The next week (the third week) you have to make $3. You continue to do so that during the week during the challenge, that’s the amount of money you need to make. When you finally reach the fifth week of your fifth week, you should make $52 that week. After adding all the earnings of the weeks, you will earn an additional $1,378 this year.
Alternative Challenge (click on the image to print)
Alternative challenges will still make the same amount of money ($1,378) at the end of the year, but it will give you more flexibility when you make how much money you make per week. You can choose a weekly amount ranging from $1 to $52 per week in the year. For example, if you can make $35 in the first week, you will cross out the $35 box at the bottom of the paper and get $35 on the line for $35 in the first week. Whether you make money between $1 and $52 a week, you can cash out the money and add it to your growing income.
Due to the flexibility of the alternative approach, it provides most people with a better opportunity to complete the challenge. It’s hard to know how much you can make every week, and another way to take that into account. The goal should always be to try to earn the highest ability every week, but if living in the next few months brings some challenges and you can only make money in a few weeks, you can get past smaller challenges without failing.
There are three basic ways you can handle this challenge, depending on how you feel, which can give you the greatest opportunity to achieve your goals, and what you are most comfortable with.
1. Single money income
A single way to make money is one way you decide to make money throughout the year and do it weekly as part of the challenge. For example, maybe you have a lot of extra stuff around the house and you decide to start selling it as a way to make money. Every week, you sell one or more items and any profits to meet the challenge. You end up focusing on one way to make money throughout the year to try to achieve your goals.
This option is best for many people, simply because of the advantages of the focus. If you focus on one thing and get better in the year, then by the end of the year, you will really be good at making money from it.
2. The money-making person
In this version, you try to do a lot of different small things that can help you reach your challenge goals when they are added together. For example, maybe in addition to selling something you have profitable around the house, you start surveying online, babysitting on weekend nights, and then start knitting baby hats for sale in Fairs. Instead of focusing on one way to make money, you explore a variety of different approaches as part of the challenge. I’ve listed some ideas at the bottom of this post to help you get started with this idea.
3. combination
Another option is a combination of the two above. In this case, you will choose something as the main way to plan to make money and increase other opportunities. For example, maybe selling things you no longer need around your home will be your main focus, but you will also conduct surveys from time to time as other sources of added challenges.
Whichever way you decide to deal with this challenge, this is a great way to create an emergency fund, not involving finding ways to reduce spending. It’s also a great way to make your entrepreneurial spirit grow and a great way to start creating various revenue streams so you don’t rely too much on a single revenue stream.
So, how to make money for the challenge?
Finally, you might ask, “Well, how can I make money?” If you want to start with a single or diversified income option, you have some ideas:
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- Conduct investigation:The best application in this space is: 1Q. 1q Pay you 25 cents per question, which is the highest interest rate to get the survey space. It won’t complement your day job, but you can buy the challenge of $1 or $2 per week. You can get it here.
- Sell your electronic data: Your data has now been recognized as your property under the law due to changes in the regulations. This means you can get paid for sharing demographic information, web surfing history, transaction data, and more. If you want to do this, consider using Nielson comment rewards, savvy connections and earning apps. These three companies actually pay you. They are all very easy to install and are paid and reliable.
- Passive income for investment: Buying stocks, bonds and investing in real estate investment trusts is an excellent way to make money. These assets are usually paid to you monthly or quarterly. When you are working on this process, consider getting an account with robinhood. Robinhood will offer you free stock up to $200. You can sell stocks or invest in ways that bring in some income. Registration is easy and takes about 15 minutes. You can do it here.
- Get a high-paying part-time job: Three good jobs for part-time jobs are: mail operators, personal driving (Uber & Lyft) and real estate agents. Agents usually have to do a lot of work, but when they get paid, the hourly rate is usually over $50 per hour, which is great.
- Sell things you don’t use:Most Americans’ homes are filled with items that have never been used in years. So if you have shoes and you don’t have a job, please sell these items in old work clothes or items in closets that were not in use before the COVID-19-19 pandemic. Facebook Marketplace, offer Up and Craigslist are all great free platforms, with many buyers interested in used items.
For more lists of making money, consider the following:
Check out the forums of SaveAdvice forums for ways to make money.
ptmoney.com also has a reliable list of 52 ways to make money.
FinanceBuzz also has a few lists with some alternative extra currency ideas that may help challenge your challenge.
(Photo courtesy of Nick Ares)
