How to Build Wealth From Nothing
By Jamie Curtis
One way to increase your wealth is to earn more to begin with. You can try to negotiate a better salary at your current job or transfer to a company that pays better.
You can also use these ways to add more sources of income:
1. Sell Your Crafts and Products
If you are crafty or artistic, or are just able to build stuff on your own, you can create a website to sell your products. It’s actually easier than you think. There are services that will let you set up a selling website with a shopping cart already built in, with little hassle. Here are some of the best shopping cart software services:
Volusion: This service has some of the best options when it comes to setting up a shopping cart website. It is one of the most user-friendly service and also doesn’t charge transactions fees. You can sign up for a free trial here.
Shopify: This is one of the most popular shopping cart services. Not only is it user friendly, but it also offers an unlimited amount of storage. You can sign up for a free trial here.
3dcart: While not as popular as Volusion or Shopify, 3dcart offers a great alternative, with impressive out-of-the-box features and unlimited storage. You can sign up for a free trial here.
2. Start a Freelance Business
If you’re a skilled writer, graphic designer, proofreader or website developer, start a freelance business to earn extra money on a freelance basis. You can advertise your services on a website and have inexpensive business cards printed to hand out as needed.
You can also start your own blog and write about whatever interests you while also making money on the side. If you sign up for an affiliate program, you can earn a commission on any products or services that you recommend on your blog. Here are some of the top affiliate programs:
Rakuten LinkShare: The biggest of the affiliate networks, it has almost everything, but can be difficult to get approved for certain programs. You can check out LinkShare here.
FlexOffers: Another affiliate website that offers a lot of companies to choose from, and it is easier to get approved for programs on FlexOffers. You can check out FlexOffers here.
ShareASale: ShareASale is a great place to get instantly approved for offers, although some programs do require screening. If you are into fashion, this is the affiliate program for you. You can check out ShareASale here.
As a freelancer, you set your own rates and deadlines, so you can have as much flexibility as you need to make the money you want.
3. Get a Second Job
Depending on your work schedule, get a second job on the weekends or throughout the week. You’ll accumulate wealth much faster by spending time earning money instead of relaxing at home. Consider these options:
Seasonal job: With a seasonal job, you’ll only work when the company needs you. During the summer, you could work at a water park. During the holiday season, many companies need additional workers due to the holiday rush.
Restaurant job: Many restaurants rely on part-time waitresses, bartenders and hostesses, often with little experience. Sometimes you’re able to pick up shifts during busy times. You earn a small hourly wage plus tips, so it’s worth aiming to provide exemplary customer service to maximize your earnings.
Part-time: Most department stores, such as JCPenney and Macy’s, and other retail stores are busier on the weekends when customers aren’t working, and they often hire part-time workers for these shifts. You can also drive for car services like Uber or Lyft to get some extra money on the side.
Work-at-home job: There are many work-at-home jobs that you can do, from copywriting to answering customer service phone calls. To ensure any opportunity is legitimate, take the time to read reviews from other work-at-home staff members.
4. Sell Your Clutter
Do you have furniture, antiques or other items you can sell? Host a garage sale or sell items online to make additional money. In addition to accumulating wealth, you’ll have a more beautiful home that’s free of clutter.
5. Consider Passive and Active Sources of Income
There are many ways to earn money outside of traditional employment opportunities. You could babysit, walk dogs or housesit for nearby families who would be happy to pay you to help them out. Ask your neighbors if you can plow snow off their driveways or mow their lawns. Most people aren’t focused on actually accumulating wealth and would rather pay you to do something than have to deal with it themselves. You can use this to your advantage.
You can also create passive streams of income, where you put in the work initially and receive compensation over time as people use or buy your product. Some examples of this would include:
E-books: You can self-publish an e-book and sell it through CreateSpace and Amazon. You write the book, and then pay for an editor and maybe someone to format the book correctly. As your book sells, you get a percentage of the earnings.
Courses: If you create a course on Udemy, you use your expertise to write course curriculum. When someone enrolls in your course, you earn money, even if you’ve established a self-administered course.