My Alternative Incomes

I, like many others, don’t really like my job. I work part-time at a grocery store in the produce department. It is not bad, but it is a lot of heavy lifting (most boxes weigh around 40-50 lbs) and by the end of the day I am usually pretty exhausted. So, to get to the point where I don’t have to work as much or not at all, I am trying to develop new ways to make money. So far I enjoy all the alternative income streams that I have developed, even if they aren’t making me a whole lot of money yet.

My New Arcade Website:

A while back I wrote about how I was starting my own business. This alternative income stream was essentially arcade website where you can play free online games. This site has actually been doing pretty well. I am getting about 50-60 unique people visiting the site everyday and they are playing about 300 games per day. I don’t really make any money when they play the games only when they click my ads but, I know they probably like my site if so many of them are stopping and playing the games.

This blog:

I enjoy writing about personal finance. This blog makes me keep track of my finances when I probably otherwise would not. It has also started to make small amounts of money for me. The real big advantage of it is probably not the money I make from it, but all the work I do to keep it up. I do a lot of research for this blog and that keeps me knowledgeable about my finances. I am now making smarter, better decisions with my money. I hope to be able to retire early. Also if you haven’t noticed yet, I have a goal of saving $100k by the time I graduate. This will be very tough, but I think I can do it.

Tutoring:

My fellow blogger at Paid Twice introduced me to tutoring. I have always enjoyed math and science and I often help friends at school with their homework when they need it. I might as well get paid for doing this right? Well I signed up to be an online tutor just a few days ago and once the school year starts hopefully I can start tutoring calculus, algebra, and physics. I don’t even know what the pay is yet but paidtwice has said it wasn’t bad. It isn’t hard to beat my part-time job income anyways. This alternative income probably also looks much better on a job resume then produce clerk does.

Investing in Gold:

A little over a month ago I invested in gold. I thought it was a sure thing and that I would make around $200 in about a month. Well it didn’t go exactly as planned. The price of gold dropped shortly after I bought it. It has taken all the way until yesterday for the price to come back to break even. Now I am finally up around $60.  The main reason it went down was because the fed starting talking about halting the rate cuts. Now that oil is going through the roof, gold is climbing up with it and making me a little bit of money. I have enjoyed investing though since otherwise my money would be sitting in the bank. With the economy as it is, I am afraid to invest in stocks right now so gold was my other option.

Prosper:

It was fun to loan out money to people in the beginning, but now that all my money is loaned out, it is kind of boring. I enjoyed reading people’s loan requests but I don’t get to do that much anymore. I do get monthly payments from all my borrowers  but this probably only amounts to about $50 or so a month meaning I can only find one new borrower per month. I have gotten a pretty decent return so far but I am skeptical that people may default in the future because of the poor economy. I will hold off on my final decision of whether I like it or not until 3 years or so when all the loans are paid of and I can calculate my return. But if you are interested in Prosper to lend you and I both can get $25 if you sign up through my referring link.

If you have any other alternative income ideas for me to try feel free to contact me or just leave a comment on any of my posts, I read them all.

4 Comments

  1. Hello, This is regarding to the Stocks are part of the solution everyone seems to rely on to increase income. The stock market is opening many doors in stock exchange to promote investors and stockbrokers to spend money to make money.

  2. I’m still trying to find a way to relate Personal Finance to video games in one of my posts to give you some link love to the site… 🙂 My choices now are PacMan or Chess… Any other ideas I should use? 🙂

  3. @ hank,
    may I refer you to http://www.davidmakescents.com/tired-of-posting-let-your-readers-play-a-game/

    🙂 you could always let your readers play the games. Of course you dont gotta do that. I appreciate any link love. Hopefully I’m going to put up more games soon. I was having a little difficulty adding new ones. I should resolve this soon though.

  4. I really wish I had studied personal financing more when I was in college. Unfortunately, I was a spend-thrift who felt guilty that I was wasting my parents money. You got a good shoulder on your head kid!

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