Catherine | The Savvy Worker

May 8, 2021 by Catherine

The Top 30 Best Personal Finance Books for 2021

Introduction

If you ever want to improve your personal finance abilities and financial net worth then you need to cultivate a positive habit of reading. To become an empowered individual who understands the basics of finance, including how to create passive income, the importance of budgeting, how to build wealth and retain it then you need to create a good habit of reading. This does not mean that you should rush to your nearest library or purchase the latest edition of the Bridgerton books but rather create a selective playlist suited to your personal finance needs. The books included in this list are specially curated as the best personal finance books to read in 2021 and cover a range of topics and themes. Some of these books are centered on the five foundations of personal finance while others on wealth creation and retainment. To become more empowered you can combine some of these books with personal finance podcasts. A simple search will reveal a list of the best personal finance podcasts in 2021. Some of the results include the best millionaire mindset books while others include a compilation of the best-selling books on wealth creation. Regardless of the way you choose to determine which books suit your preferences, it is evident that personal finance reading is an integral process in the pursuit for financial well being.

That being said, here is an exhaustive list of the best personal finance books to read in 2021. Most of them are available on Amazon and can also be purchased as audiobooks on audible.

‘I Will Teach You To Be Rich,’ by Ramit Sethi

In this book, Ramit Sethi explores how an individual can earn and save more to live a rich life. The fundamental teachings in this book include that you did not have to be an expert to become financially stable, you need to become financially empowered at an early age, you should spend extravagantly and the things that you love and cut expenditure on those that you don’t, you should use your finances to design your ultimate rich life, and there’s always a limit to how much you can cut on your expenses that there’s no limit on how much you can earn. This book is suited for beginners looking to improve their financial situations.

Raising Your Money-Savvy Family for Next Generation Financial Independence

This book is available as both a paperback and an audiobook and is written by Doug Norman and his daughter Carol Pittner. The book contains ways through which an individual can motivate the kids to better manage their money, how parents can begin empowering the kids at a young age by allowing them to make mistakes which are considered cheaper during this period than when they’re in the workforce and provides a way through which parents and children can validate their feelings regarding money and the mistakes that they have made. This is a family-centric book that seeks to teach both parents and children how to manage money by understanding the significance of making mistakes at a younger age and exposing children to financial Management information at an early age.

‘The Automatic Millionaire: A Powerful One-Step Plan to Live and Finish Rich,’ by David Bach

If you’re looking for a book that provides a step-by-step action plan on personal finance management then this is the book for you. David Batch provides an actionable step-by-step plan through which individuals can build wealth without being disciplined and by solely relying on fixed percentages, small payments, and automated transactions. some of the key lessons in this book include saving small amounts every day as it can go a long way in improving your financial status, ensuring that you pay yourself first before you get out other bills and expenses which will eventually help you take care of your financial future, and understanding the significance and importance of automatic payments as they allow individuals to invest in a disciplined manner without being disciplined themselves. This book is more suited for a beginner investor or individual who struggles with budgets released from paycheck to paycheck and is trying to find a way through which we can improve his financial well-being.

The Paper Solution

This book comes with a unique perspective on personal finance and management. The author examines how organization and clutter can mean the difference between success and failure. A proven step-by-step actionable plan is provided for readers to determine papers that should be shredded, those that should be saved, and how to sort what is left behind. This book on organization provides a method through which you will be able to learn the documents that you must hold onto and their implied meaning, those that you should dispose of immediately, and how to overcome bulky filing cabinets and disorganization by creating a system where your vital documents are accessible and portable. This organization plan is based on something that is referred to as the Sunday basket which is a box that will contain the final papers that are organized according to the proposed system. You might ask yourself how is organization relevant to personal finance? Well, it has been proven that a more organized individual is more likely to make astute personal finance and other decisions. This book is more suited for a beginner or novice looking for a way to improve their organization system as a way of enhancing their personal finance journey.

Rich Dad Poor Dad

This book is regarded as the poster child for personal finance and wealth management. The author of this book Robert Kiyosaki is a self-made millionaire who shares his secrets on wealth acquisition that he learned from his father and his friend’s father. In this context, his friend’s father was the rich Dad while his father was the poor dad. The book contains an array of personal finance information ranging from simple to complex terms. Some of these themes include definitions of assets and liabilities, how to get rich without making a lot of money, and an in-depth explanation for parents on why education systems are not based on personal finance empowerment of children. This is one of the oldest books in this category and has existed for more than two decades. However, each new edition contains updates that Kiyosaki deems important according to the current financial situation.

This book is suitable for individuals who want to learn about wealth acquisition and also want to empower the children on how to become more financially stable in the future.

The Fearless Money Mindset

If you’re a beginner investor then you probably come across some of the fears that are mentioned in this book. Most people are often afraid of losing their money when it comes to money management or investment which often impedes their growth. This book provides its readers with seven principles and tools through which one can eliminate any fears regarding money management. These principles and tools are suited for different kinds of individuals regardless of their current income. You might be struggling from paycheck to paycheck or have a 7-figure salary yet you still have fear when it comes to dealing with your money. The viable solutions offered in this book will help you achieve financial success by eliminating fear and having a fearless money mindset.

Why Didn’t They Teach Me This in School: 99 Personal Money Management Principles to Live By By Arian Simone

This book offers similar teachings to that of Robert Kiyosaki’s Rich Dad and poor dad as it is based on the notion that most schools do not teach their students how to manage money and other personal money management principles that people should live by. It is often argued that the fallacy of weakness that comes with the education system is partly attributed to capitalism that requires a highly skilled workforce that supports the empowered individuals who have a more intimate idea on how to manage money. The book also provides an inside view of the author’s life experiences, business wins and failures, and adventures that have affected and impacted both her personal and professional journey. If you’re looking for a book that offers relatable situations then this is the one for you and is available on Amazon.

Secrets of Six-Figure Women: Surprising Strategies of the Successful High Earners by Barbara Stanny

Have you ever wondered how some high earners consistently succeed at Business ventures yet when you try implementing the same formula you always fail or come up with the relatively negligible success outcome? If so then this is the book for you as it offers 7 key strategies that successful female high earners employ in their daily lives. These strategies include profit motive, audacity, resilience, encouragement, self-awareness, non-attachment, and financial know-how. It is important to note that most of these strategies underpin personal finance and can be found across most of the books included in this list. This book is both available as an audiobook and in paperback format.

The Behavioral Investor by Daniel Crosby

Dr. Daniel Crosby the author of this book creates a premise that to be able to be successful at investment and personal finance one must understand human nature because markets are made up of people who are often driven to create profit. Crosby argues that human beings are sociologically unable to not be good at investing, neurologically wired to be impatient and hungry, and physiologically created to be subject to failure. If you are looking for a book that will help you modify your behavior to fit a positive one that can help you improve your financial well-being then this is the book for you. This book contains ways through which you can do a personal audit and determine which characteristics of features make you more susceptible to failure and which ones can be enhanced to become most successful.

How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won’t Get from Your Financial Advisor by Ernie Zelinski

Retirement security is an issue that is becoming more significant in the modern world. This is because most people do not consider the possibility of retirement as they are stuck in a vicious cycle of working to be able to supplement their current bills. Studies have consistently shown that more and more people are reaching retirement age without any retirement nest egg. Most people who are employed and have been contributing to retirement funds often become subject to financial deficits making them deep into the retirement funds. This book provides a guide through which you can understand the significance of saving for retirement, how you can gain the courage to retire at an early age by investing your money in the right channels, how you can generate purpose in your retirement life through pursuing creative channels, and how you can follow your dreams instead of contributing to building someone else’s dreams. This is an important read for everyone as retirement is a topic that is increasingly becoming significant as we often ignore it in pursuit for financial well-being

The Total Money Makeover Classic Edition: A Proven Plan for Financial Fitness by Dave Ramsey

If you are familiar with personal finance management then you probably come across Dave Ramsey. Ramsey is a renowned expert in personal finance and debt management and has authored several books that are quite important in one’s journey to financial well-being. Ramsey posits that financial well-being cannot be achieved if you do not take into consideration of your debts. As such, this book offers an actionable plan through which you can get out of debt and improve your overall financial well-being. The book also debunks some common myths associated with money and examines some of the illusions and fallacies associated with the American dream that often makes people acquire more debt. This is a must-read for anyone interested in becoming more financially stable and having an actionable and clear plan on debt management and acquisition. It is available on Amazon as a hardcover and paperback.

Die with Zero by Bill Perkins

The author of this book, Bill Perkins, is a hedge fund manager and entrepreneur who examines their idea of optimum retirement strategies. The fundamental idea behind this book is that individuals who have saved enough money to fund their retirement and can give back to their families and charities should begin focusing on generating more memorable life experiences. This idea is based on nine rules or philosophies including the need to maximize positive life experiences, investing in experiences at an early, aiming to die with zero, using all available tools to plan your future, always giving money to your kids or charity at an early stage, not living life on routine or autopilot, planning one’s life in terms of seasons, knowing when to, and taking big risks at an early stage of your life. If you’re looking to live a more meaningful life while simultaneously taking care of your financial well-being, this is the book for you.

Money: The True Story of a Made-Up Thing by Jacob Goldstein

In this book, Goldstein examines the fundamental ideologies of money including the fact that it often seems cold and mathematical and exists outside the realm of human relationships and social interactions. However, in actuality money is a made-up thing or a shared fiction and is unalterably socially. The examination of the fundamental identities that surround the exchange and creation of money is made with the sole purpose of creating a more relatable experience to associate it with. There are several case studies included in the book including that of Kublai Khan who was the leader of the Mongol Empire during the late 1200 and is regarded as an early example of innovation as he created one of the formal paper money systems. The main idea behind this book is why money matters and its future in the digital realm.

You Are a Badass: How to Stop Doubting Your Greatness and Start Living an Awesome Life by Jen Sincero

This book explores some fundamental mindsets that are integral in achieving financial well-being. This mindset include that you are perfect and to think anything less of yourself is pointless, you are responsible for your actions and not responsible for the reactions of others, you are unconditionally loved, you should not base your self-worth on whatever and thinks about you because by doing so you hand over the power to other people and become dependent on their validation, you should not apologize for who you are as an individual, nobody ever accomplished anything worthwhile by being in their comfort zone, the only outcome that can be considered a failure is that of quitting, you should always consider that you have been blessed with all opportunities and ideas around you, when you are in a state of gratitude and aware of all the great things that surround you then it is much easier for you to believe that there is greatness that is yet to be manifested and available to you, and when we are able to share our sole purpose in life then we are in alignment with the best and powerful versions of ourselves.

When She Makes More by Farnoosh Torabi

We live in a patriarchal society where it is often expected for men to make more money than women. However, over the past decades, women’s empowerment through education and other channels has created an appreciated system where women are now able to earn equal to their male counterparts or even more in some situations. This book considers the situation where a woman makes more and provides 10 rules for breadwinning women. This book is considered an ultimate guide for women who earn more than their male counterparts as they are often subjected to higher risks for burnout, infidelity, and divorce. This is a must-read for women seeking to create the perfect balance between their personal and professional lives and for men who want to support their spouses and their journey to financial greatness.

Women with Money: The Judgment-Free Guide to Creating the Joyful, Less Stressed, Purposeful (and, Yes, Rich) Life You Deserve by Jean Chatzky

This book provides an actionable way through which women can chart a pathway to a joyful and purposeful life by exploring the relationship with, taking control of their finances, and using their money to create the life that they want. The author of this book provides readers with a way to reach they can implement tactical solutions in their workplace to get paid what they deserve, how they can be inspired to begin businesses, invest for their future life, retain and enhance their finance portfolios, raise independent and confident children, and Foster secure relationships.

Don’t Retire… Graduate by Eric Brotman

Don’t retire graduate is a book that provides you with a degree to financial freedom. This book provides information regarding the three main strategies that can help you balance your debt while still paying yourself, explains the significance of undertaking a course in risk management and insurance in helping you save for your future financial casting, and selects the people who will live in it, contains a 12 relationship matrix that will help you determine if you should continue engaging with your financial advisor or drop them, provide a crash course in retirement accounts and IRAs that will help you maximize your peak earning years, and explains how the 21 extra credit assignment in risk Management, financial independence, debt and cash management, and other subjects will help you become the top of your class. This book takes a unique approach to personal finance management by providing access to a full syllabus of courses that will help you enhance your skills in money management

The 7 Habits of Highly Effective People by Stephen Covey

Our list will not be completed without mentioning the seven habits of highly effective people by Stephen Covey. This book is regarded as an important book for any person looking to enhance their management and finance skills. So what are the seven habits of highly effective people? These habits include the ability to be proactive, being able to begin things with an end in mind, the ability to Prioritize and achieve the most important goal, the skill collaborating more effectively through building high trust relationships, the habit of influencing others through developing a deep understanding of their needs, the habit of synergizing and increasing one’s motivation, energy, and work/life balance.

Other notable mentions include:

The Millionaire Next Door: The Surprising Secrets of America’s Wealthy
The Intelligent Investor: The Definitive Book on Value Investing.
The Simple Path to Wealth: Your Road Map to Financial Independence and a Rich, Free Life
Think and Grow Rich
The Maxwell Daily Reader
Retire Before Mom and Dad
Why Smart People Make Big Money Mistakes and How to Correct Them
Spend Well, Live Rich: How to Get What You Want with the Money You Have

Conclusion

To become financially stable and savvy at managing personal finance, you need to have basic knowledge of personal finance and wealth acquisition. These books provide a way through which you can learn this information by detailing and summarizing personal finance tips at an affordable cost. Some of these books also provide personal finance advice that is crucial in becoming more stable. Additionally, some of these books also provide frameworks that will show you how to get rid of bad habits that are responsible for poor financial outcomes. Create a reading schedule, pick a book that best suits your learning needs and engage in one of the best ways of becoming empowered. Most of these books are available on Amazon in hardcover and paperback formats and on Audible in audiobook format.

May 6, 2021 by Catherine

52-Week Money Saving Challenge: How to Save $5,000 This Year

Introduction

The 52 week money challenge 2021 is an infamous money-saving challenge that can help people achieve a number of savings goals within one year. In this instance, this 52-week challenge will help you save $5000 by the end of the year. If you have just come across this article and are probably in the middle of the year or halfway through the first or second yearly quarters, do not be disparaged. You can still adjust the sheet to cover the remaining weeks and achieve the savings goal that you have set for yourself. This challenge provides a way to save money each month without having to affect your regular spending. It is also considered as one of the best ways to save money for retirement as you can set an annual saving scheme for your retirement fund. If you choose to use this scheme to save towards your retirement, then you need to ask yourself “how much money should I save for retirement?” After deciding the final amount, you can choose a variation of the 52-week challenge that better meets your final retirement amount.

The rules for engaging in this challenge are pretty simple. Every week, you will put aside some money according to the savings plan you choose for the 52 weeks. You can also use the principles of this money challenge 2021 to create a 100 day money challenge or other savings variations.

So, how do you start saving money? To begin this challenge, it is imperative for you to understand the technicalities associated with the money-savings charts and methods. In our previous savings articles you might have come across different savings challenges such as the money savings envelope challenge where you use envelopes to set aside cash for bills and expenses. This challenge is quite similar and can also use the envelope system for those who are disciplined spenders and savers.

Variations of the 52-Week challenge

It is important to note that there are other variations of the 52-week money savings challenges that are basically differentiated according to financial savings goals. There are three types of savings plans including a decreasing, increasing, and constant one. The decreasing 52-week money-saving challenge starts the first week of January 2021 with the highest savings balance of the year. You will then decrease these values each week until the last week of the challenge. This decreasing plan is suitable for income earners with steady monthly or biweekly checks that can be used to meet the weekly challenges.

The “increasing” money savings plan begins the year with the smallest savings amounts and increases weekly until your minimum savings goal is reached at the end of the 52nd week. This plan is the most common one as it takes into account that most people overspend during the previous December holidays meaning that they have the least amount to save on the first week of January. If this describes your spending habits then this is the right plan for you. The constant savings 52-week money challenge takes the final savings goal that you have in mind. Divide it amongst the 52 weeks and make sure that you save a constant fee every week. This savings plan is suitable for an individual who is looking for a constant savings plan and either earns a middle or low-income wage.

How to Use the 52-Week Money Savings Challenge

To use these money-saving challenges, all you have to do is select a plan that is suitable for your income and needs, print one of our FREE money-saving charts, and ensure that you adhere to the weekly savings amount. Before beginning, you should decide why you need to save this amount. Are you planning on taking a vacation? Or investing in a financial implement that requires a minimum savings balance? After deciding why you need to save, you should then choose the best savings platform that will restrict your usage. Always remember that this money is saved for a particular goal and should only be used in cases of emergency and when you do not have access to any other funds. You could also use these money-saving challenges to pay off your debts. Let’s say for example you have a university tuition loan or any other form of loan or debt that has been raking up interest and affecting your credit health. You can decide to set a goal that is tailored to the weekly plan thereby helping you eliminate these debts.

Choosing a Savings Account

Theoretically, the 52-week money challenge is based on the premise of saving a weekly amount of money into your piggy bank or any other savings facility that you own. However, traditional savings accounts come with the added advantage of interest. Consequently, you would be missing out on the opportunity to make interest on your money. As such, consistently depositing your money into a savings account that is set up for the sole purpose of reducing the temptation to use your savings when you need emergency cash also comes with the advantage of interest earned on your savings amount. There are several savings accounts that are good choices for this kind of financial plan. When selecting a savings account you need to know the minimum requirements and how they will work towards your final goal.

For example, most savings accounts come with the minimum value that is required to maintain the account. Let’s say bank x requires a minimum account balance of at least 25000 USD. This will not work for you because you are unlikely to begin the 52-week money challenge if you already have a minimum deposit of 25000 dollars. As such when you shop around for good savings account look at the minimum deposit and the interest that you will earn on your savings. A simple google search on best savings account rates in 2021 will show you some accounts with comparable savings rates and you can review them to determine which is better suited to your needs and location. You might be compelled to go for high interest savings accounts but these might come with some challenges. As such, always make sure that you read the fine print before selecting a savings account.

How to be Successful at the Challenge

The 52-week money-saving challenge is one of the best ways to save money fast. However, it is important to note that most people fail at this challenge. There are a couple of approaches and techniques that you could implement to ensure that you never fail at this challenge and they include:

Adjusting the Challenge to meet your needs

When beginning this challenge, it is important to consider your financial situation and position to ensure that it meets your needs. This is because everyone has different financial goals, expenses, and incomes. As such it is important for you to consider your financial situation and your long-term goals. For instance, let’s say you have a monthly income of $5000 and expenses that amount to $3000. In such a case it is unrealistic to adhere to a money-saving challenge that will compel you to save more than $2000 every month. This is because you have a disposable income of approximately 2000 USD. Additionally, you should consider how often you’re paid and the mode of payment. For example, if you are paid bi-weekly then you can choose a lower weekly contribution limit and if you’re paid monthly you can choose a higher weekly contribution payment limit. This is because bi-weekly checks are often lower than monthly checks. as such if you choose to adhere to a money-saving plan that compels you to contribute more every week yet you have a bi-weekly check then you’re bound to fail.

It is also important to consider that the goal of this money-saving challenge is to improve your financial wealth and health and not to deteriorate your current status. As such it is important to abstain from using things like that to adhere to the challenge. There are a number of instances where people have decided to use debt to cover up for a deficit in their income. This often creates more problems than solutions as debt is more expensive to resolve than when you use your income. In light of such incidences, it is also important to consider that some people might have lower checks that cannot cover all meat a 52 money week challenge. This is a major and common concern for people who might have income deficits where their bill exceeds their income and they’ve had to struggle every month to be able to cover the deficit. In such an instance it is advisable to look for other passive income streams rather than appearing to this money-saving challenge because it will more likely damage your financial health than resolve it.

Starting the Challenge with a higher amount (reducing chart variation)

Using the reducing chart variation has been shown to be more effective than the increasing one. A reducing chart variation is where you begin with a higher amount and gradually reduce until you reach the 52nd week. Why is this variation more successful than the others you might ask? It is because, at the beginning of any challenge, one is more motivated and pumped to meet all the set targets. Let’s say for instance you have a goal of saving $10000 every year. Using a reduced chat valuation implies that you might need to begin the chat with a higher savings amount that might be between 250 to 500 dollars. In such an instance one is more likely to save this money at the beginning of the challenge as they are more motivated to meet the needs done at the end of the challenge. This is just human nature. One is more likely to get bored with a routine which might affect the ability to adhere to the set targets. However, if these targets gradually become easier to accomplish then you’re more likely to meet them as you might consider them negligible to your financial status at that moment. Think of it this way in January and December most people have higher disposable incomes because of the holidays. These holidays are also considered the biggest spending which comes with a dent in most people’s financial well-being. However, you’re more likely to save a bigger amount during this month as you might justify your spending because of the savings. On the other hand, you are more unlikely to serve these higher amounts during the middle of the year or at the end of the year because you have other financial obligations that may become a constraint to you. As such it is recommended that if you want to be successful at this challenge you should use this reducing variation chat as you are more motivated and inclined to save at the beginning and at the end of the challenge.

Saving a constant amount weekly

This option of saving a constant amount every week is designed for people who like routine. There are some people who often get bored of doing something over and over again. However, there is a large number of individuals who thrive at routines. knowing whether you fall in the first or second category is imperative in ensuring that you choose a chat variation that meets your needs. As such if you like routines then it easier to use a constant money chart where you divide your total saving goals by the number of weeks to determine how much you should save every week. For instance, let’s say you have a 5000 annual savings goal. Using this constant savings money chart you will divide 5000 by 52 weeks which comes up to approximately $96.10. This means that you have to save $96 and 10 cents every month.

Using a paycheck standing order

This is only available to people who have savings accounts that can automatically deduct the set targets from their paychecks. Let’s say you paid your check or your monthly income through a specific bank account. When you create a standing order, the specific weekly amount that you are supposed to save every week will be directly deducted from your paycheck before you can withdraw it. This makes it easier to adhere to the set targets as you will not be tempted to use your money for other things or impulse purchases.

Choosing the right savings account

As mentioned above, having the right savings account is imperative in ensuring that you’re able to meet your targets. This is because selecting the right servings platform directly implies an ability to constantly contribute the weekly amount. By savings account the means of modern and conventional ways of saving money. You might be tempted to use a more traditional way of saving money such as using a piggy bank at home. This might work for you if you are highly disciplined with your money and might not be tempted to break up your piggy bank to meet deficits in your income or impulse purchases. Choosing the right savings medium will ensure that your money is safe and well accounted for.

Conclusion

The 52-week money savings challenge is an innovative and exciting way of meeting an annual financial goal without compromising your monthly or weekly incomes. Adhering to this challenge might prove difficult but comes with the reward of being able to procure the high ticket item you wanted to buy or contribute to a retirement fund without compromising your ability to meet your monthly expenses and bills or delve into more debt. It is important to choose a 52-week money-saving chart that meets your needs as mentioned earlier and a savings platform that will ensure you are able to regularly contribute to your pre-set goals. We have an extensive list of money savings charts that can help you meet your goal. Check them out here!

April 6, 2021 by Catherine

How to Track Expenses in 4 Easy Steps and Never Fail at Budgeting Again

Introduction

If you have tried tracking your expenses before then you know how much of a hassle it can be. It is often stated that the key to financial stability is being able to successfully track your expenses and account for all your income and expenditure. This is often equated to budgeting. If you have read our previous posts then you know that at the Savvy Worker, we are big on budgeting, saving, and investing. If you tried budgeting and failed before, you should not be discouraged. We have all, at one point in our lives, tried one money management technique or the other. Some lucky people often master these techniques on the first try, while most of us often have to try several times before we can properly master one technique or the other.

Before you begin budgeting you should have a clear understanding of why it is important to track your expenses. Keeping track of your expenses is important for many reasons including having a clear idea of your income and expenses thereby making it easier for you to know how you can efficiently divide your income, tracking expenses also helps you understand your spending habits which can help you know the days where you spend more than you should and the things that you should be putting on and tracking expenses with help you improve on money management. These reasons are important to budgeting as they underpin the principles of money management, savings, and investment.

It is important to note that budgeting on its own will not help you solve all of your money problems. If you have come across personal finance books and other approaches you will always be advised to create a budgeting plan as a first step of having a clear way of accounting for your income and expenses. As such, you should recognize budgeting as the first step in your plan to secure your financial health.

So how can you track your expenses and never fail at budgeting again? This article identifies several steps that are extremely crucial in creating your expenses and encompass several elements and items that will help you create a clear and concise plan in budgeting. These budgeting tips are for beginners and experienced budgeters.

Why do people fail at budgeting?

To be able to succeed at budgeting you need to understand why people fail at budgeting. Several reasons have been determined as key causes that can fail an individual to stick to a budget. The first reason is that most people often do not create an accurate record of their past spending habits. You need to understand that our budget is a way of keeping your habit in check so if you do not create an accurate record of how you have been spending your money in the past then you will fail at budgeting. Do not look at a budget as a way of self-criticism but as a tool of getting rid of destructive spending habits. As such, when you’re creating a budget make sure that you created the totality of your past and existing spending habits and outline all your income sources. The second reason why people fail at budgeting is that they fail at creating well-defined goals that are attainable. You need to be able to create well-defined goals that accurately capture your income and spending habits. For instance, creating a goal that you need to become more financially stable is vague and will lead to failure. Creating well-defined and accurate goals requires pre-existing knowledge of goal creation. I often like to use the SMART goal creation system.

Specific

Measurable

Attainable

Relevant

Time-based.

This will ensure that you can attain the goals. The Specific criteria in the smart goal creation system require you to make your goals specific and narrow for more effective planning. You can adhere to this criterion by asking yourself what do you want to do? The Measurable criterion can be created by asking yourself how will you know when you have reached your goal? The achievable goal can be created by asking yourself if the goal in your power to accomplish it? The realistic goal can be achieved by asking yourself can you realistically achieve the goal with your current spending and income habits? The timely goal can be achieved by asking yourself when exactly do you want to accomplish the goal?

You will be able to improve your chances of succeeding by adhering to this criterion when creating your budget.

Create a Budget

The first step in tracking expenses is creating a formal budget. You are probably tired of hearing that budgeting will help you solve all your money problems. You might also have the perception that budgeting will constrict your leaving and make you adhere to a plan that affects the quality of your life. However, this is not true. Budgeting helps you account for all your income and ensure that you always pay your bill on time. It also helps you attribute money to other financial well-being elements like investments and savings. The first step to creating a budget is to determine all your income and expenses. If you are a beginner budgeter then it is imperative that you use external help or a budgeting application to ensure that your app adheres to financial principles that are aimed at helping you improve your financial status. Several budgeting applications have been created to help different types of people with different types of incomes. You can check out our list of the best budgeting apps of 2021 both offering free and paid plans that can help you create a budget that is tailored to your income and futuristic savings goals. If you do not want to use a budgeting application then you can also download the hundreds of thousands of free spreadsheets that are available online, particularly on personal finance blogs. You can also decide to use personal finance books that will help you create a budgeting plan based on your needs.

The most important thing to understand while using a budgeting application or spreadsheet is that not everybody is perfect at budgeting. If you find yourself failing at the first week or month and not adhering to your allocated income or expenditure tracker then you should understand that this is part of the learning process. Here at the Savvy Worker, we have a motto that we live by that says that we do not fail, we either succeed or gain experience. If you find yourself in such a predicament pick yourself up and continue adhering to the monthly plan or weekly one that you have created on your budgeting application or spreadsheet.

Select a Spending Tracker

If you just use a budgeting application then you know it comes with a spending tracker and goal creation tool. However, if you have not chosen a budget application to create your budgeting plan you need to select an automatic spending tracker. Spending trackers will enable you to understand your expenses in totality. In budgeting apps, the spending trackers often evaluate your income against your expenses and provide recommendations on how you can efficiently divide your earnings to cover the bills. You can choose to ever use the automatic spending trackers that are integrated into budgeting applications or download worksheets that provide you with a manual way of managing your expenses. Most of these worksheets operate on a basic principle. You will have to list all your expenses at the beginning of the month and systematically write them off once you pay them. While using manual systems like printable worksheets can be tedious they also come with an accountability measure. Because once you develop a habit of always updating your expenditures you’ll always feel compelled to ensure that once you pay the bill it is written off in your manual system. For those who chose to use the automatic spending trackers that come with budgeting applications then you know that the spending tracker that automatically ingrained in your smartphone. As such will be regularly notified when you need to pay your bill and once you’ve made the payment. Some of these automatic spending trackers are also linked to your bank account and automatically update your account according to the bills paid. This nifty feature is particularly useful for those who are looking for a budgeting application that helps them save and increase the disposable income that can be used for investments and other futuristic purposes.

You can also use automatic or manual spending trackers to budget for big expenses. For instance, if you want to buy a car or save towards your house you can use the automatic or manual spending trackers to round off your payments and save the excess towards your savings goal. The key to selecting a good spending tracker is understanding your need in totality. For example, if you are paid bi-weekly then you need to select the spending tracker that allows you to update your expenses with the same regularity. You can also use several other spending trackers to determine which spending tracker is best suited for your needs. Some of these criteria include if you live in a single income household or multiple income households, the size of your household, your investment and savings goals, your choice of spending tracker that is if you ever need an automatic or manual one depending on the level of comfortability, if you’re supporting any other individual, and if you have commitments that exist outside of the regular bill and income structure. Online budgeting tools are also useful when selecting a spending tracker.

Categorize and Use Spending Trackers

If you want to succeed like budgeting and never feel again then you also have to categorize your spending trackers. Categorizing expanding trackers is based on the idea that most people have different categories of bills. For instance, you might be the sole provider in your household as such you need to categorize your spending tracker according to your household bills, your mortgages, your car gas bill, etc. Categorizing your spending trackers enables you to become more organized and detailed when it comes to creating a budget and adhering to it. This is included in this list because you never feel like budgeting once you can accurately account for all your spending habits in the various accounts. It is important to note that the categorization of the spending tracker is only needed for those who have decided to use the manual spending tracker system where you have to print out printable spending trackers. For those who are using budget applications, you will find that most of these applications come with the categorization of bills which makes it easier to determine how to allocate your income. Categorization of spending trackers is also important because it enables you to accurately define your spending habits. You will be able to know where you spend most of your money or where you spend the rest of your money and how you can efficiently restructure your spending habits to fit your income and futuristic investment and savings goals. Budgeting for beginners can be difficult if you do not understand how to select the best tracker that meets your needs. As such, you should focus on choosing a budgeting tool or process that you are familiar with or have basic knowledge on as there are several budgeting categories that come with an array of spending trackers.

Track Changes/Set Weekly Check-Ins

The last part about creating a budget and never failing at it is tracking your changes and setting periodic goals. Creating periodic check-ins is important in understanding how well you’re adhering to your budget. We recommend creating weekly check-ins regardless of the regularity of your paycheck because of the possibility of spontaneous spending. Let’s say for example you decide to get take out in the middle of the week you need to be able to efficiently and competently account for this spontaneous expense to be able to have a clear picture of your spending habits. Accurately accounting for your spending habits and your income will help you bolster your budgeting skills and ensure that you never fail at creating a budget again. Once you have completed all the aforementioned steps then you can begin adhering to your budgeting plan and ensuring that you hold yourself accountable because you are the only one who has the power to either alleviate or deteriorate your financial well-being.

Conclusion

Budgeting can be tedious and strict particularly for individuals who are not used to account for every single penny that they spend. You might also have come across people who have failed at budgeting and convinced yourself that you two may not be able to stick to such formal ways of accounting for your income and expenses. However, a clear and defined understanding of budgeting in this age and time is integral in ensuring that you never fail at budgeting. You should understand that your past experiences do not determine your future. If you tried budgeting once before and failed then take that as a learning curve and improve upon your habits.

March 29, 2021 by Catherine

8 Money-Saving Apps That Do The Penny Pinching For You in 2021

Introduction

Whether you are a high, middle, or low-income earner, saving money is always a good thing. Saving money or penny-pinching does not only involve budgeting but can range from savings on expenditure to buying goods on sale. Have you ever bought an item online for certain costs only to find it on sale for 50% less than your purchasing cost? This is a bad experience that can dampen your shopping experience. Nobody likes spending money on something that they could have saved money on. Whether you are preparing to buy an expensive item, save for retirement or vacation, get help on saving money on groceries, or save towards your investment, penny-pinching is of extreme importance. To become efficient at saving money, you first need to understand the concept of budgeting.

The apps listed below provide a range of penny-pinching services and are some of the best budgeting apps in 2021 that will help you increase your disposable income which you can use to improve your financial status.

Budgeting Applications

Mint

This is a popular budgeting app that is extensively reviewed on our list of 12 best budgeting to download in 2021. Mint is an All-in-one budgeting application that allows its users to track their bills and expenses, create a super detailed budget, and plot their savings and investments path. Mint can be used to help your account for all your earnings and make sure you never overspend or fail to pay your bills on time.

Chime

Chime is available as an iOS and Android application that comes with a spending account and debit card that is insured by the FDIC. This ensures that you can safely deposit funds, monitor spending, and track your investments all from the comfort of one application. The mobile application comes with several features including an automatic savings account that automatically deducts a percentage of money from your income and deposits it into your savings account, rounding up on purchases and saving the difference, and creating a budget.

Digit

This application automatically analyzes your finances, creates a savings and investment plan for you, and automatically saves according to your needs. The application analyzes your income and expenditure and calculates how much you can afford to save every month. The application then automatically deducts this amount from your income and saves it into an FDIC-insured Digit account. All amount saved on these accounts earns a one-percent savings bonus on your balance after every three months. The application also updates its analysis on a three-weekly basis to ensure that your income and expenses are updated accordingly.

Bill-Paying Notification Apps

Charlie

Have you ever defaulted on an expense or bill and got fined for forgetting about it? This ultimately increases your financial burden as you will have to pay both the bill and default rates. Charlie is the right application for you if you have these concerns. This application is a simple money management app that allows its users to manage their day-to-day transactions. Charlie is designed to ensure that you pay your bills on time and score some fantastic deals during the process.

Trim

Trim is a bill-negotiation app that analyses your spending, negotiates your bills, cancels unused subscriptions, and provides access to saving opportunities. This application analyzes the income and expense habits of the user and determines areas where an individual can take action and save more money. Trim then analyzes all existing expenses including cable, internet, phone, and medical bills to determine which bills can be negotiated and which subscriptions can be canceled. Trim is considered a safe application to use as it employs 256-bit SSL encryption and two-factor authentication.

Shopping Accounts

Paribus

This is a free-to-use application that allows its users to access deals that will help them save on expensive purchases. Paribus works in a simple way by scanning the users’ inbox and determining where you are owed by retailers. Once you sign up for the service, all your receipts will be scanned, and when the price drops on one of your purchases the site will help you get a refund thereby saving you money. The refunds are based on price drops and late deliveries.

Cashback Rewards

Ibotta

Ibotta is a cashback rewards site that is available as a browser extension and smartphone application. This free-to-use mobile coupon and cash-back shopping app allow shoppers to earn cash back on specific products by performing easy tasks, buying some products, and providing proof of purchase. Ibotta is a popular application amongst its users because one can make money in several ways including redeeming coupons, rewards programs, coupon stacking, and matching amongst other money reward programs. Some examples of these tasks include product reviews, watching short videos, and posting on your personal social media pages.

Swagbucks

Swagbucks is also a reward and cashback program similar to Ibotta, where users can save money on their purchases through coupons, promo codes, and sales. Users are paid in Swagbucks that can then be redeemed for cash and other gifts. This is an easy way to earn money, save on some of your shopping bills, and simultaneously align your spending habits with your income. One of the easiest ways to earn money through Swagbucks is by using their search engine instead of another popular one like Bing and Google. You will begin racking points through surfing that can then be redeemed in a variety of ways.

Conclusion

The aforementioned apps are just a number of a few easy to save and make more money in 2021. If you have moderate to bad spending habits and are looking for a fast and convenient way of penny-pinching and keeping your expenditure and income on track, then you should download one of these apps.

March 29, 2021 by Catherine

12 Best Budgeting Apps to Download Now (2021)

Introduction

Budgeting is often perceived as a difficult task and it can be if you do not have the correct tools and implements to help you out. If you ever want to achieve financial independence, regardless of your income, then you need to learn how to budget. This may sound ominous as it comes with the implication of self-discipline and penny-pinching. To become proficient at budgeting you first need to understand why you need to budget. Budgeting is a convenient and important way of fixing your spending habits, preparing for your future, and accounting for each penny that you earn. In the past budgeting used to be an activity relegated to the rich because of the tedious and time-consuming process of financial planning and reconciliation. However, the new age of technology and software development has made it easier and simple for anybody with a smartphone to become proficient at budgeting.

Why is Budgeting Important?

Budgeting is a money-saving or penny-pinching technique that allows you to create a spending plan according to your income. This technique will ensure that you always spend money that you can afford, account for all your income, and create a more defined way of saving for your future or other big expenses. Think about a budgeting plan as the affordable financial advisor who will help you improve your overall financial status.

What are the best money management apps on the internet today?

This is a contentious issue since everyone has different financial needs, incomes, and expenses. As such, there is no single app that can be recognized as the best. However, the ones discussed below cover a wide range of financial backgrounds and subsequent budgeting needs. As such, they are listed as the best budgeting apps in 2021. The list contains the best free budgeting apps in 2021 and other premium options that come with advanced user implements. The listed apps can be used on both iOS and Android phones and they include:

Mint

Mint is undoubtedly one of the most popular money budgeting applications on the internet. mint provides its users with access to investment accounts and an array of budgeting tools. Unlike other applications listed in this list, mint has a stronger budgeting portion with an underlying investment section.

This All-in-one budgeting application combines a bill tracker with a financial planner that is important for anyone looking to improve their credit health while simultaneously saving for investment. The tracking portion provided by this app allows its users to track expenses, account balances, and bills. This is quite important for a beginner budgeter as it allows you to have a clear understanding and depiction of how and when to pay your bills and the amount you should save towards investment and other futuristic expenses. This application is suitable for an individual who is looking for a super detailed budget that automatically updates your financial portfolio and planner according to your transactions. This is because mint automatically retrieves transactions from your bank accounts and credit cards which results in automatic analysis of your income and spending habits. This creates a detailed overview of your cash flow and expenses.

With such an array of applications, the next logical question for any users searching for a budgeting app is how much does the mint app cost? Most of the services provided are free to its users. However, you can upgrade to a premium version of the credit monitoring service which costs approximately $16.99 per month.

Mint is available for both iOS and Android users.

Ynab

You need a budget is another popular money budgeting application that helps users keep track of their money while simultaneously providing suggestions on how you can save. YNAB also offers occasional classes on finance and money management. These classes are free in the beginning but come with a monthly subscription cost. This app is suitable for a beginner budgeter who is looking for financial literacy classes and budgeting tools. The underlying philosophy that is used by this application is “a job for every dollar” with the application encouraging users to let their money work for them instead of vice versa. The app encourages its users to think ahead and plan for all futuristic costs ranging from grocery shopping to vacations. Like all other apps listed, YNAB comes with a money tracking and expense tracking tool.

This is a premium application but comes with a free trial for 34 days after which you can choose to enroll for their monthly or annual plan. The monthly plan costs $11. 99 per month and the annual plan costs $84 per year.

This application is available for both iOS and Android users

Good Budget

Good Budget is an application that is built on the budgeting concept of envelope budgeting. Like other applications included in this list, this app helps its user’s budget track the debt, and manage their money. one of the nifty features of this application is its sharing tool that allows you to share information across all your devices using their cloud saving feature. Once you sign up for this application you will get 10 envelopes for free but once you upgrade to their premium services you get unlimited envelopes for a monthly cost of $6. As with other envelope systems, you will have to stop spending when the envelope is empty or move money from a different envelope. Good budget was designed for both personal usage and spousal collaboration. This makes it easier for both you and your spouse to keep track of your budget and spending habits. Additionally, a good Budget sends its users reports about their spending habits that are analyzed against the expenses. This report tells you how sustainable your current spending habits are.

Good budget is available for both iOS and Android users.

Pocket Guard

The philosophy for Pocket Guard is “always know what’s in your pocket.” This money budgeting application comes with a simple and intuitive user interface with a plethora of money management tools that allows you to budget for your disposable income and pay all your bills on time. 1 of the best of this application is its disposable income calculator that allows its users to determine if they can afford an item from the disposable income. this application also comes with the habit and spending tracker that will analyze your expenses and they depict them in a graph displaying the items you spend on the most. Unlike other applications, Pocket Guard helps its users save money by finding unwanted subscriptions that you may no longer need. This is quite a nifty feature as it has been determined that most people spend money on subscriptions that they don’t use regularly. The application also allows you to set goals for yourself including setting savings targets within a particular period.

This money budgeting application is free to use and we’ll have you optimizing your spending and automatically saving within a few months.

The application is available for both iOS and Android users

Personal Capital

Personal capital is a relatively popular budgeting app that is often listed as one of the best money management applications available for both smartphone and desktop usage. This application allows users to track their budgets and includes information about their investment accounts. Personal capital application comes with an intuitive and simple to use user interface with graphical depictions of the user’s investments by asset class investment account or individual investment. This makes it easy to track the investment performance and management of your portfolio. A user can even get help from investment professionals in some cases. It is important to note that this application is mainly geared towards investment that is why most of its features are investment-related. However, you can use this app to plan your budget as it allows you to list your expenditures and transactions and also comes with an intuitive application that allows you to see the percentages of categories of your highest expenses. One of the best features of personal capital is its net worth tracker that allows an individual to see how the net worth increases or decreases over some time. Most people interested in using this app often compare it to other popular budgeting apps like mint. A review of mint versus personal capital will be provided in one of our upcoming posts. Subscribe to our newsletter to be notified when we upload it.

Personal capital is available for both Android and iOS users.

Honey Due

Honey Due is regarded as one of the best budgeting applications for spouses. The application allows you and your partner to get an overview of your finances without having to log into different accounts. Some of the nifty features of this application include bill payment reminders and monthly spending limits to ensure that you and your partner stick to your budget and do not overspend. The app also allows partners to split their bills. The chat feature also allows you and your spouse to communicate with each other and query expenses or unexpected bills that you do not understand. This application makes budgeting easy and simple for couples. Honey Due also allows their users to own joint accounts with their significant other. The app is FREE for all usages.

Albert

The Albert money budgeting application takes a unique approach on financial planning. This app is designed to provide artificial virtual assistance using aspects of artificial intelligence combined with human guidance. The application provides personalized information regarding your current financial health and areas in which you can improve on. Albert automatically creates a financial plan for you based on your spending habits bills and income. The entirety of Albert’s usage does not only stop at budgeting as it comes with a savings tool that helps you set money aside for savings and investments. The application also allows you to analyze your bills and identify areas where you overpay and even alert you on subscriptions that have free trials that are almost ending. Albert comes with a premium cost and a free plan. The premium cost allows you to text human experts and get more health in areas like investing and debt payments.

The Albert application fees range from $1 24 dollars for the genius subscription. The application is available for both iOS and Android users.

Google Sheets

Google sheets are one of the free-to-use budgeting applications online. However, its usage is different from all other apps listed on this list. This is because google sheets provide users with access to a range of spreadsheet budgeting templates that also come with graphical depictions. You need to have basic expertise in the usage of google sheets or Microsoft Excel files. This application is suitable for both newbies and experienced budgeters and can be used to meet both individuals and joined budgeting needs.

Clarity Money

Clarity Money is an all-in-one money budgeting application that uses artificial intelligence to analyze the finances of its users and help them make smart financial decisions. This application allows its users to link accounts from thousands of different financial institutions, create a budget track spending and monitor their debt. All you have to do is organize your spending into different categories, set financial goals, and monitor your progress. The application also allows its users to automate expense tracking and savings.

This application is free of charge and available to both iOS and Android users.

Spendee

This is money budgeting application that uses visual depictions to demonstrate your financial net worth and planning. The application syncs with your bank account and automatically downloads transactions and categorizes them according to income and expenditure. The application also has a sharing feature that allows you to share certain parts of your budget with others. You can assign money to virtual wallets and track your spending. The application also allows you to share specific wallets with your friend’s thereby encouraging accountability and motivation towards achieving your goals. The application also offers a travel mode that supports multiple currencies for users who are regular travelers.

Spendee is available for both Android and iOS users.

The app comes with a 7-day free trial. And a monthly and annual plan. The monthly plan is categorized into premium, plus, and basic. Premium plans cost $2. 99, Plus costs $1.99 per month, and basic IS FREE. The annual plans cost $22.00 for premium, $14.99 for plus, and free for basic.

Mvelopes

This is another popular money budgeting application that is based on the envelope strategy. The envelope budgeting strategy is simple. All you have to do is divide your money according to your expenses and spend money in that category until the cash is gone. Mvelopes helps translate your credit card and digital spending into a cash-reliant budgeting system that tracks where your money is going. Like all the other applications you can create a budget and let the application handle the rest. This is not a free application and comes with a monthly subscription fee of $4. This is the bare minimum but other subscription costs are depending on the features you need including access to financial coaching services.

The application is available for both iOS and Android users.

Acorns

Acorns majesty Robo advisor financial model with automated savings tools allowing users to invest for their future while simultaneously budgeting for their current lives. Acorns use a unique savings technique by taking virtual change out of your account and investing the difference. This app is suitable for individuals looking for an investment plan and application that automatically does everything for you. The model of investing in spare change works on a simple principle. Let’s say you go and purchase a Starbucks coffee for $4.79. Acorns will Round Up the spare change and invest in recurring investments. The application also allows you to grow your knowledge through access to hundreds of articles from different financial experts.

This application is not free but comes with quite affordable subscription plans with the Lite plan which is $1 per month, the personal plan that is referred to as the all-in-one plan that costs $3 per month, and the family plan that costs $5 per month.

Conclusion

Having a money budgeting application is vital in modern money management. These applications simplify the process of budgeting, investing, and saving through automation making it easier for anyone to create a clear plan and adhere to it. If you want to check your spending habits, limit these spending habits, saving and investing more than downloading one of these applications is integral.

February 10, 2021 by Catherine

How to Teach English Online and Get Paid in 2021

Introduction

This is a lucrative work from home opportunity that involves teaching international students, mostly from Asian countries, English. The opportunities have pay that ranges from $15/hour upwards. The most common pay models include pay per minute, pay per hour, and/or pay per class. Most sites require you to be a native English speaker, have a Bachelor’s degree, a fast internet connection, and a good Laptop. You can make money if you teach group classes. Most of these sites pay biweekly and monthly.

Some of these sites include:

VipKid

This platform connects children in China with teachers from all over the world to provide real-time one-to-one online English immersion learning. According to this site, “they allow teachers to change the lives of children in China without having to uproot their lives. A simple google search will return hundreds of VipKid reviews from teachers and students alike regarding the working and educational opportunities respectively. A significant percentage of children on this platform are in the 3-15-year-old age group and come with varied English-speaking capabilities. The site has eligibility criteria for potential teachers including:

Holding a Bachelor’s degree in any subject
Having at least a year’s worth of experience working with children
Having the legal rights to work in the US or Canada (the company does not hire individuals residing in California, New York, or Washington state because of the laws on independent contractors.)
Reliable Internet

The site pays an average of $17-$19 per hour that is broken down into base pay (made per 25 minutes class) of $7.50; finished class incentive (for all classes) ranging between $0.80 to $3.20 depending on how many classes you have taught in one month; and, short notice class (classes booked within 24 hours) of $2 per lesson. The site provides teachers with the option of being paid weekly, bi-weekly, or monthly through direct bank deposit or PayPal.

Cambly

Cambly is an online platform that connects students from all over the world with native English speakers. This site has slowly become popular amongst students as it provides an instantaneous connection with tutors. Think of it like Uber for English tutors. The best feature about this app is the student practice where teachers are paid to converse with the students trying to practice their English skills. This site pays an average of 17 cents per minute of conversation, which is approximately USD 10.20 per hour with a guarantee of payment even if students do not show up for their session. The payments are sent on a weekly schedule through PayPal once you attain the minimum payment threshold of $20. You also do not need a bachelors’ degree, teaching certificate, or any prior experience. All you need is an excellent grasp of English and a reliable internet connection.

Magic Ears

This is an innovative learning platform specifically designed for children between the ages of 4 and 12. Magic Ears requires the teachers to have a bachelor’s degree or to be actively enrolled in a bachelor’s program, all teachers must be Native English Speakers, requires a 120-hour ESL certification and some teaching experience, and a reliable internet connection. This platform offers one of the highest paying opportunities for teachers with an average hourly pay of a minimum of $12 and a maximum of $26. The classes often average 25 minutes with extra 5 minutes for recording feedback from the students. Magic Ears also has a minimal weekly commitment: 1.5 hours (3 25-min classes). Payments are made every month (10th of the next month).

Teach Away

Teach Away provides online tutoring jobs for certified teachers, ESL instructors, and/or college graduates. The site offers a range of remote working opportunities for individuals seeking either part-time or full time teaching jobs. Teach Away also provides an online certification course including TEFL for individuals interested in becoming teachers that comes with an online core curriculum and flexible practicum options. Positions can be accessed from their job board that lists both remote and physical teaching jobs available across the globe. This site is an excellent resource for an individual interested in becoming an online teacher but lacks the necessary skills or certification.

Say Abc

This is a digital platform that links teachers with students from all over the world. The site offers up to $17 USD per 40 Minute Class with the ability of teachers and instructors to control their schedules and working locations. The interactive teaching platform makes it easy and simple for both the teacher and student to teach and learn from making it one of the best educational platforms out there. The site also comes with a pre-uploaded National Geographic lesson. New applicants often take between 10 – 14 days to become employed and sign their Service Agreement. You can also teach trial classes provided for new students at a lucrative rate of $8 per converted student as an incentive per class. The eligibility requirements for teachers on Say Abc include:

Being a Native level of English
Owning a computer with a reliable and fast internet connection and audio/video capability
Holding a Bachelor’s degree or above
Preferred minimum of one-year teaching experience
Holding a certificate in TEFL, TESOL, CELTA, or any other relevant teaching certificates is preferred.

Da Da

DaDa is one of the first online English education companies in mainland China to hold a partnership with the American TESOL Institute. Based in Shanghai, China, the site offers a world-class curriculum founded on partnerships with other institutions like Pearson Test of English Academic, Highlights, and National Geographic Learning. The site offers a minimum of $15/hour and a maximum of $25 /hour with teachers required to work for at least 10 hours every month. The eligibility requirements for the teachers include:

Being a native English speaker (from any country)
Holding a bachelor’s degree or equivalent
Holding a teaching certificate including TESOL, TEFL, and CELTA, state or provincial teaching license amongst others.
Computer with an HD webcam and reliable internet connection
A headset that comes with a microphone
Google Chrome browser or DaDa software.

The site also often offers 10% raises for teachers who want to renew their contracts with existing contracts ranging from between 6 and 12 months.

BoxFish

Boxfish is a Chinese digital company that offers teachers a minimum of $20/hour and a maximum of $22/hour. This site requires its teachers to teach their classes from their smartphone or tablet as their teaching software is available as a mobile application. As a teacher, you can either decide to teach group classes or one-on-one lessons. BoxFish only hire native English speakers from the US, Canada, UK, New Zealand, and Australia and pays through PayPal. Teachers need a Bachelor’s degree and also require a form of teaching certification. The site also requires teachers to have at least one year of teaching experience. Payments are sent on the 20th of each month through direct bank deposit.

QKids

Qkids provides an online platform that links over 1 million young learners between the ages of 4 – 12 years located across the world with online teachers, tutors, educators, stay at home parents, college students, and individuals who have a passion for teaching. Teachers do not need any form of lesson planning because the lessons are pre-set in the application. Teachers can work remotely from anywhere in the U.S. or Canada and can earn between $16 – USD 20 an hour, with each in-lesson being 30 minutes in length. The site is quite flexible as teachers are allowed to set their schedules. Qkids provides teachers with a contract term of 6 months that is renewable. The eligibility requirements for teachers include:

Being eligible to legally work in the U.S. or Canada
Holding a Bachelor’s degree
Holding a Teaching license or English teaching certificate (TESOL, TEFL, CELTA, and ESL) required before lessons assigned.
A computer with a webcam
A headset with a microphone
Stable Internet connection (cable connection preferred)

All teachers are paid through bank transfer to your U.S. or Canada bank accounts no later than the 15th of each month for the previous month’s earnings with the transfer fees being covered by the site.

Italki

Italki is a language marketplace where teachers and students can purchase and use language learning credits. Think of this platform as the eBay of languages. Unlike other sites, this platform is less strict when it comes to credentials as you can decide to either list yourself as a professional or community teacher. Professional teachers are categorized as native or near-native speakers who are professionally certified or experienced in teaching a language as a foreign or second language. Professional teachers should also be 18 years or older and have a 1-3 minute video introduction. On the other hand, community teachers can be Native or near-native speakers who will provide these services in informal settings. Community teachers do not require any form of credentials and should also be 18 years or older. Both professional and community teachers are allowed to set their rates.

GoGoKid

GoGo Kid is an online platform that connects children in China with teachers located globally. On this platform, teachers can earn anywhere between $14-$25/hour.

Some of the eligibility requirements for teachers include:

Holding at least a bachelor’s degree or equivalent.
Have legal eligibility to work in the USA or Canada
Have teaching experiences in any setting.
Hold a valid ESL certification from an accredited organization with a valid certificate number (Preferred)

The site provides all teachers with independent contracts that can be held for six months and renewed once it ends. Payments for previous months are made at least once every month no later than the fifteenth (15th) day of the current month. This site uses PayPal as a payment option.

UUabc

UUabc is an interactive platform that links students and remote teachers across the globe. The eligibility requirements for teachers include:

Being a native English speaker.
Holding a Bachelor’s Degree or above.
Having At least 1 year of online ESL teaching experience
Have experience in teaching Subject English preferred.
Hold either TEFL/TESOL/CELTA certificate.
American/British accent preferred.
Own A desktop/laptop and have a stable internet connection, with equipment (headsets, webcam, etc.)

The site pays between $18 and $28 with $3 per hour bonuses and some standby rates. Teachers are also expected to commit to at least 8 hours of lessons every week.

Hawo

Hawo is a digital teaching platform based in China that links teachers and students with a base rate of at least $22 per hour. This site provides a flexible teaching schedule for teachers who are allowed to set their classes. The eligibility requirements for teachers include:

Being a Native English speaker with a neutral accent
Holding a Bachelor’s degree or above.
Having experience in teaching or tutoring
Have experience in the US or Canada teaching systems
Having a teaching license and certificate
Own at least a PC or MAC and a reliable internet connection.

English Hunt

English Hunt is a digital company based in South Korea that hires online tutors with a starting rate of $14.00 per hour. The classes are scheduled for the afternoon in Korean time with busy times between 1 am EST to 3 am EST. the eligibility requirements for teachers include:

Hold at least a BA in any subject to qualify can be substituted for ESL certification.
ESL Degree preferred (TEFL/TESOL etc.)
At least 4 years of teaching experience can be substituted for teaching certification
Own a Desktop/laptop with a running Windows Operating System
Have a Headset with an attached microphone
Have an Ethernet internet connection with upload speeds faster than 3.0 Mbps.
You must be a US Citizen to qualify
You must have a US bank account to receive payment

Conclusion

Teaching English online and from home is a lucrative opportunity that is better suited for someone looking for a work-from-home opportunity. Some of these positions require credentials while others don’t. Most of these sites also allow you to set your schedule and determine how often you can teach these classes. You can choose to apply to all of them and determine the best option that suits your needs and works around your schedule.

February 8, 2021 by Catherine

Ultimate List of Sites Hiring Freelance Writers in 2021

Introduction

If you have a knack for research and/or a penchant for narratives then this is the best opportunity for you. There are millions of freelance workers globally who get paid to research and write content for blogs, magazines, press releases, product descriptions amongst other things. The opportunities included in the list below offer freelance writing jobs for beginners and experts. This flexibility means that you do not have to be experienced or lack the know how of these kind of jobs to be able to get a high paying gig.

There are two ways through which you can approach this. You can either decide to become self-employed or write for a content curator. If you decide to become self-employed then you need to find your clients, negotiate your prices, and maintain client relations. This is the hardest form of writing but it is the most rewarding. This is because you get to dictate how much you want to get paid when you want to get paid, how you want to get paid, and other technical aspects like revisions.

How to Start Freelance Writing

Although it sounds difficult, it is quite easy to find your clients. Self-employed writers also include bloggers. Here are some ways to get writing opportunities:

Blogging

Blogging is the most lucrative way to go as a writer. However, it needs a lot of patience because you need to build a dedicated community of people. To become a successful blogger

find a relatively competitive niche that you are well familiar with
buy a domain and hosting
create unique and informational content
Drive traffic to your page through SEO and social media
Monetize your content through affiliate links, on-page ads, and sponsored postings.

This is a long term way of earning passive income because it may take between 1 and 6 months to start seeing some sizable traffic. Don’t give up hope and continue posting relevant information.

Sourcing Clients

You may decide to find your clients. You can achieve this through outreach. Contact blog owners, content curation sites, and individual clients on platforms like LinkedIn. Create a portfolio of your work and upload it on a website and refer potential clients to the site. Wix is one the best-hosting sites for such websites. You can also use freelance marketplaces to find clients. These marketplaces have willing buyers but the competition is high and some commissions may be steep. However, if you are good at writing convincing sales pitches then you should check out the following sites:

Content Mills

This is one of the fastest ways to get a writing job. However, most content mills are associated with low wages. There are hundreds of thousands of companies that hire freelance writers. You need to do your research on which company better suits your skills, experience, and expected wages. If you are a newcomer, you will need sites that do not require any experience and have simple and easy registration links. These sites have low wages usually within the $0.01/word range. If you are an experienced writer then you can choose high-end sites that may pay from $5/word to $100/word and more.

Sites for both Newcomers and experienced writers include:

Most of these sites pay weekly or biweekly through payment sites like PayPal, Payoneer, etc. You might get rejected on some of these sites but don’t give up. The secret to making a sizable and sustainable stream of passive income is by applying to many sites simultaneously.

Narrative Sites

You have probably heard or come across narrative sites like Wattpad. If you are an avid Wattpad user then you have seen new updates that include video ads between chapters. Wattpad writers get paid when you view the ads and in some instances interact with them by downloading apps, games, etc. Check out our ultimate guide to getting paid on Wattpad as a writer. If you are a good storyteller and writer, here is a list of apps that will pay you for your unique pieces:

Wattpad
Webnovel
Dreame
Polygon

Partnership Programs

There are several programs where you get paid to publish articles on a predesigned hosting interface. These sites are established forums, content curators, and large blogging platforms with hundreds of combined contributors. The best part about such programs is that you don’t have to look for traffic or promote the content. The site already receives millions of users daily. All you have to do is research and create innovative content. These programs include:

Quora partnership program
Medium
Facebook instant articles
Blaster

Tutoring

Homeschooling and academic consultation are on the rise. The current global Corona pandemic has forced many institutions to reconsider how to conduct remote operations. Schools have not been left behind. Many students struggle with their daily classroom tasks and need extra help from tutors. You can make passive income by providing tutoring services on platforms like:

VIPKid
ClubZ
Tutor.com
Upswing.io
Homework Tutoring
Learn to Be
Aim-for-A Tutoring
The Princeton Review
My Tutor 24
Special Ed Tutoring
Revolution Prep
Tutor Me
Tutorvista.com
Varsity Tutor
SmartThinking
Wyzant
Brainfuse
Study Hub
ExploreLearning
Homework Help
Prep Point
Chegg–Read more
Tutorhub
Skooli

Conclusion

While the aforementioned list does not include the entirety of sites offering writing jobs for remote writers, it includes some of the most lucrative and easy-to-join platforms. Most of these sites pay on a monthly basis through PayPal or Payoneer and provide opportunities that can help you become a more stablished writer while simultaneously generating passive or full-time income.

February 8, 2021 by Catherine

How to Make Money on Social Media: A review of 8 Social Media Platforms

Introduction

Social Media plays an integral role in our lives today. Most of these sites have more than 100 million users and a daily rate of 20 million-plus. You have probably come across social media influencers who make money across these platforms in the most common business model. Social Media Influencing takes time and patience and often does not pay lucratively for small numbers. You may be looking for a less popular and faster way of making money on this site. There are several other ways through which you can make money without becoming an influencer.

Pinterest is a pictorial site quite similar to Instagram where users display images in the form of pins. You can pin images from your favorite website or create original pins. This provides several business opportunities for a savvy online worker including:

Affiliate Marketing
Create content for Shop The Look Pins
Promoting Personal Service and Goods Website Like Etsy
Growing Other Social Media Platforms
Promoting Your Blog/Youtube/Amazon Associates Platform
Outreach Platform
Get paid to promote a company/Brand

Facebook

Facebook is the most popular social media site with more than 1 billion users. This presents a plethora of lucrative ideas for a savvy mind. Some of the ways through which you can make money on Facebook include:

Facebook instant articles

Instant articles provided by Facebook is a mobile publishing format that enables content creators to distribute articles on Facebook. These articles usually display four times faster than average mobile platforms. As such, most users are more likely to read an article on Facebook than on a mobile web. You are then paid a CPM rate when people read your article. CPM refers to the cost per mile which often ranges from $1.45 to as high as $4.58. The articles often contain advertisements that contribute to the rate at which creators are paid. The CPM rate is determined by the origin of the traffic. For instance, if your article is read by people from the United States you’re likely to get a higher CPM rate than if your article is read from countries like Thailand.

Selling on Facebook marketplace.

Facebook marketplace is a free-for-all feature where people can buy, sell or trade goods and services in their local area. You can create a viable business by sourcing products from wholesale and selling them at retail prices or even offering drop shipping services.

Using Facebook ads to drive traffic to your e-commerce site

If you have a website where you are selling goods or services you can create advertisements on Facebook that drive targeted traffic to your website. Most e-commerce businesses use the Facebook advertising platform to reach new clientele. Some important features like retargeting can help you reach previous clients.

Social media influencing

This is a common and contemporary business model where you’re paid to advertise to your fan base. This is only lucrative if you have a significant number of followers. The basics of the business model include reaching out to brands and pitching viable advertisement strategies.

Become a social media manager

If you have the skills required to manage corporate social media accounts then you can become a social media virtual assistant. This is a work-from-home opportunity where your responsibilities might include scheduling social media posts, content curation, building an audience, and monitoring ad campaigns.

Creating videos on Facebook

Just like YouTube, you can choose to create videos and upload them on Facebook. The videos will then be populated with in-stream that helps you earn money. Facebook has a system that automatically identifies natural breaks in your content where they place their ads. You can also choose your ad placements and your earnings are often determined by several factors including the length of the video, number of views, and niche.

Fan subscription

This is a feature where your Facebook fans are required to pay a monthly or recurring subscription fee to view your content. The system enables you as a creator to identify your major supporters by special badges provided in the comment section. You can then choose to reward them with perks including exclusive contents and discounts. This will help you create a more loyal fan base and increase your income.

Subscription groups

This Facebook feature enables group admins to sustain themselves through subscriptions. All you need to have is a group with an active community. Fans subscribed to your group will be required to pay a subscription fee that is determined by you.

Instagram

Instagram is a photo-sharing application that is considered one of the top social media platforms in the world. The company which is considered a subsidiary of Facebook provides several opportunities for someone looking for a work-at-home opportunity. Here are some of the ways through which you can make a passive income on Instagram:

Brand collaborations

This is quite similar to social media influencing. Social media influencers are considered people who have created an online reputation through creating awesome content. Contrary to popular opinion you do not need to share personal pictures to become an influencer. There are several influencers who share pictures in dishes ranging from flowers to pets. Many brands partner with influencers on sponsored posts to promote their products or services. While this is not a consistent way of making you come it can provide you with an extra stream of revenue.in some cases, brands might choose to provide you with free services or free goods. Not all brands pay monetary compensation for sponsored posts. All you need is a minimum of 1000 followers and you’re good to go. Reach out to brands on their Instagram pages and pitch to them a sponsored post. You may not find brands at the get-go. However, this should not deter you! Keep-on creating content and growing your fan base and you will reap the rewards. You can advertise your platform on influencer marketplaces that increase your chances of being discovered. Some common marketplaces include:

Fohr
Grapevine
Crowdtap
Indahash

Become an affiliate

Affiliate marketers get paid commissions when they generate sales or engagement for brands. This is different from social media influencing because you are in more control of your revenue. You are often given a trackable link or unique promotion code. When visitors to your page click on the unique links or use your codes to purchase products or services you are credited an agreed-upon commission. Instagram only allows people to put links on their bio. As such you can only advertise one product or service at a time using unique links. However, if you choose to use promotion codes you can include them in your posts thereby promoting any number of products or services simultaneously. Some of the most popular online merchants that have affiliate programs include Clickbank, maxbounty, and rewardstyle.

Creating an e-commerce store

If you want to create a more consistent and significant income stream you may choose to create your store. Some of the ways through which you can sell your goods or services include

Creating a print-on-demand service.
Selling services such as photography or consulting
Selling digital products
Selling original products
Drop shipping

Tumblr

Tumblr is a creative social platform that has existed for several years. On this platform, you can share any type of content including images music, and videos. This platform is different from other social media platforms in that you are provided with a personal blog to share your content. Just like any other blog you can add pages and personalize your Tumblr blog. This platform is quite relevant if you have content that is appealing to millennials be aged between 18 to 29 years. Here are some of the ways you can make money on Tumblr

Just like a normal blog you can promote other brands through content advertisements. This is done once you apply to external advertisement networks like Google AdSense or Infolinks. Each advertisement network has a different payment format ranging from cost per impression to cost per click. Generally, you were paid once users view or click on the ads in your content.

Affiliate marketing

Just like Instagram, you can choose to include affiliate links on your content. This link often redirects your fans to an external brand page where their activity determines how much you are paid. For instance, some brands may choose to pay a commission per sale or a commission per visitor. Commissions per sale are often higher than per visitor. Be careful not to spam your affiliate links on your content because this might get your account banned.

Promote your work

Tumblr is a platform that is lucrative for professionals including graphic designers and photographers. This platform can enable you to create pictorial blogs that can advertise your work. One of the easiest ways to generate interest in your work is to create and publish infographics. Most commonly, infographics include pictures with samples of your work, quotes of your services, and how to contact you. You can also create your store and link it to your blog.

Create and sell Tumblr themes

If you are tech-savvy you can create and customize Tumblr themes and sell them on their marketplace.

TikTok

Tik-Tok is a video sharing social media network. While there are no direct ways of making money through the platform, users can create content and monetize their content through the following techniques:

Advertising e-commerce products
Brand partnerships and sponsorships
Advertising YouTube channels
Driving traffic to your website
Promoting content for other creators.

Snapchat

Snapchat is a social media platform that was developed in 2011 which allows its users to share stories, photos, and videos with their followers. This platform is quite different from other social media platforms because the post disappears after intended users see it. there are several ways through which you can make money on this platform and they include:

Creating a Snapchat premium account. This account enables content creators to share exclusive content for a subscription fee.
Affiliate marketing. Where you promote other products for a commission.
Creating new filters to promote events of local businesses.
Using snap ads to advertise a product or service.
Brand promotions and sponsorships
Creating sponsored dancers to promote services.

Twitter

Twitter is one of the biggest social media platforms with over 100 million daily users. Such a large user base provides several opportunities for a savvy mind. Did you know that instead of posting tweets on retweeting other people’s content you can also make money on the platform? Here are some ways through which you can make money on Twitter

Brand promotions and sponsorships. There are several websites through which content creators are conducted to brands looking for Twitter users with a large fan base. Sponsored tweets are one of such that connects content creators with brands. Another site that offers the same value proposition is paidpertweet where companies can purchase sponsored tweets from registered users.
Affiliate marketing. Just like other social media platforms, Twitter offers organic traffic that can convert to affiliate products. You can promote your affiliate links on your Twitter page and earn a passive income by directing your followers to the affiliate company’s page. Popular networks that provide this opportunity include Clickbank and flex offers. be careful when promoting products on Twitter because it’s against the policy of some affiliate networks. Also, choose carefully which type of products to display on your page. It is advisable to select a niche based on your audience. You don’t want to be that person who promotes cat products for dog lovers.
Promoting your website or e-commerce products. This is quite viable if you have a drop-shipping business or service provision business.
Generate traffic and leads for your blog or website.
build an email list that you can monetize with several options.

LinkedIn is a social media platform that is geared towards professionals. The platform enables users to upload their resumes, get recruited by companies and businesses, share informative articles on their industrial standards, and build their brand and reputation. While this may look like a more stringent and niche-specific platform, it provides a plethora of opportunities for a person looking to provide several services including:

B2B services like customer care, web design, etc.
Resume writing services.
Business coaching and consulting services.

Let’s assume you decided to drop ship services as mentioned in one of the points above. You can use this platform to advertise your new website and reach potential clients.

Conclusion

Social media platforms have opened the world of sharing and communication but also affected how we do business. these platform come with a plethora of opportunities for the Savvy Mind. Most people believe that the only business opportunity on these platforms is influencing. However, there are a number of other ways through which you can make money without being a social media influencer. Select any of the above opportunities and begin generating consistent and passive income!

February 8, 2021 by Catherine

How to Make Money with Videos Online with 11 Sites

Introduction

Ever since the inception of YouTube a decade ago, video making and sharing have been a viable source of income. While some of the most popular platforms are YouTube and twitch there are several other unexpected platforms that offer the same opportunity for a curious content creator. This business opportunity is formed on the idea that you as a content creator will come up with insightful, creative, and unique video content that is monetized through ad platforms like Google AdSense. Most people often resort to vlogging their daily lives, but there are several Niches that are just as lucrative.

Below are some of the most popular platforms through which you can make money sharing videos.

Youtube

YouTube provides content creators with the channel through which they can create a user base and monetize it. Before launching a YouTube channel one should decide whether they’re creating an outlet to promote personal products or services or to generate ad revenue.

Ad revenue

This is how the business model works. You have probably watched one or two YouTube videos. Have you noticed the advertisements that come before, in the middle, or after the video? When you view these advertisements or perform any action the YouTube creator is paid. This helps them generate revenue through advertisements. Most content creators use Google AdSense for ad revenue and are typically paid between $0.5 to $5 per 1000 views depending on the name and location of the viewers. This is a more consistent way of making money because you’re paid based on your efforts.

Brand Sponsorships

You may also have come across videos where the content creator is reviewing products. Such platforms are monetized through sponsorships that pay the Creator a commission once people purchase products through their channel. In most cases, bigger YouTube channels often get paid fees just to advertise the product. However smaller YouTubers are often given coupon codes and links which are tracked for any action from their viewers.

Affiliate marketing

While this model sounds similar to the one mentioned above, they are fundamentally different. Have you ever come across YouTube channels that provide content through listicles? For instance, channels where top 10 lists are reviewed? Most of these channels use this method to earn revenue. They create a list of the top 10 products in any niche or category and provide affiliate links to these products. The most popular affiliate network used for this type of business is Amazon associates. Each time you as a viewer buy a product from one of these links they created are paid a fee.

Product or service promotion

Let’s say you have a business that offers a particular product or service. Ordinarily, you are looking for traffic that converts. In the age of social media, this can be done through building a community. In this model, content creators provide content specific to their niche that helps build a community which is then directed to the primary website.

Daily Motion

Dailymotion is a video sharing platform similar to YouTube. However, in this platform, the genre and niches are limited to a few categories. It’s quite rare to find personal vloggers general DIY videos for instance. However, the remaining array of niches provides opportunities that can be monetized through in-stream ads. The site pays ad revenue after every 60 days through PayPal or Payoneer. The minimum amount needed to get paid is $100 with a profit share ratio of 70% for the content creator and 30$ for daily motion. The site also allows its content creators to make money by renting their videos. This monetization scheme is created on a simple and structured concept where you create a pricing list for your videos or the channel and offer content through the scheme. The best part about this site is that you are allowed to brand your videos that can prevent them from being used by other individuals.

Twitch Tv

Twitch is a streaming platform for gamers. This video sharing platform allows gamers to stream videos of themselves playing games. In most cases, users sign up and follow channels that provide gaming content relevant to their interests. The gamer provides audio commentary and a visual depiction through webcam videos. The potential to make money on this platform is massive but there are few prerequisites required to begin. You need to be interested in gaming or have prior knowledge of games, own a webcam or camera, gaming console or other gaming equipment, computer, and a microphone headset. This platform pays content creators primarily through advertisement revenue. Other ways through which you can make money include donations from your followers, brand partnerships, merchandise, monthly subscriptions, virtual cheers, game sales, and through twitch affiliate programs. If you are passionate about gaming why not make a passive income on the side. To begin, find a niche where you Excel in, create unique content, build an audience by sharing your content on other social media platforms, and monetize your account once you reach the minimum requirements.

Bright cove

Brightcove is a video sharing platform that pays content creators when users rent or purchase their videos. This is a different video sharing platform from YouTube because it allows content creators to retain 70% of their earnings from sales and rentals. This platform is quite lucrative because it is not as popular as other video sharing platforms hence you will have less competition to worry about. However, you need to make sure that the videos you create are unique and of value to viewers.

Vimeo on Demand

This video sharing platform does not have a minimum monthly balance to get paid and has one of the highest profit-sharing ratios at 90% for the content creator and 10% to the host. With the Vimeo on Demand platform, content creators can sell their videos directly to their fans by allowing them to either buy, rent, or subscribe to their channel at affordable costs. This site allows the content creators to decide whether they want to sell their videos to a specific audience located in a geographical location or globally. Traffic to your videos can be generated through social media promotion. The site also allows for the content creators to customize these videos to meet the needs of their audience including the creation of captions in the videos. The site also allows content creators to present their videos through impressive posters that can help generate more traffic. The earnings are paid through PayPal with the site supporting multiple currencies. There are some eligibility requirements that you must meet including joining Vimeo Pro that comes with an annual subscription cost of $17 and owning the full copyrights of your video.

Twitter Amplify

Twitter Amplify is a monetization program launched by Twitter that helps content creators generate money from their videos. This program was launched to help advertisers reach massive audiences while simultaneously helping content creators generate passive and regular income from their videos. So how can you make money from twitter videos? The program inserts pre-roll ads in your video which are uploaded on video.twitter.com. Advertisers can then select the type of content that is aligned with their goods, services, and target audience. The program does not come with a profit share but comes with a minimum $100 payment threshold. There are other eligibility requirements for premium publishers (twitter monetization eligibility) including:

Being 18+ years
Being verified
Publishing brand-safe content according to Safe For Ads content guidelines
Being an active Twitter video publisher
Accepting the Amplify Publisher Program Terms & Conditions

This program is very flexible as you are allowed to opt-in and out. Additionally, you are allowed to pre-set monetization for all tweets/videos. Once accepted into the program, you will get access to a monetization tab and media studio where you can check the performance of your videos. Payments are sent two months after the publication via direct deposit/ ACH or PayPal.

Facebook

Facebook provides a structured way of earning money from videos. This is done through the placement of in-stream advertisements which range from short videos to image ads. This is a profit-sharing opportunity where content creators get a percentage of the revenue from the ads. The eligibility requirements for this program include:

Be 18+ years
Publishing videos from pages. You must own a page to publish videos from and not individual profiles.
You must meet the Partner monetization policies
You must have 30,000+ 1-minute views that help Facebook determine how successful you will be able to monetize your content with instream advertisements.
Your page must have a minimum of 10,000 followers
You must be in a country or language that is supported by Facebook. A list of countries and languages supported by this program can be found here.
Your videos must be at least one minute long, with longer contents having natural breaks.

BridTV

This is a White label enterprise-level video player and monetization solution that enables content creators to monetize their video material intuitively and reliably. The platform comes with a state-of-the-art HTML5 player and integrated video platform that supports the latest Video advertisement technology. This enables content creators to maximize their earnings and sponsorships. The platform comes with a monthly subscription cost grouped according to views with the lowest being the Free subscription for video plays of 100,000 and 50,000 impressions, the Essential plan that goes at $24.99/month for video plays of 150,000, 50,000 impressions, 300 minutes encoding, and 300 GB video streaming capacity; Business plan for $89.99/month for 500,000 video plays, 200,000 impressions, unlimited encoding capabilities, and 1.5TB streaming capabilities; and Premium that comes with custom pricing for unlimited video plays, custom impressions, unlimited encoding, and custom video streaming. Some of the features of this platform include:

support for pre-, mid-, and post-roll, including the latest VAST & VPAID advertising tags
advertisement water falling
Artificial intelligent banner fallback
Advertisement header bidding
Google IMA SDK integration
advertisement pods
video carousel
in-depth video and ad analytics
extensive macro support

Amazon Video Direct

This platform is provided by retail giant Amazon and enables content creators to list their videos on Amazon Prime. The site has a minimum payment threshold of $100 and comes with a variety of royalty-sharing programs. Some of its main features include

Flexibility in earnings where the content creator can decide to either make money through hours streamed by Prime members, revenue share from rentals, purchases, monthly channels, or advertising impressions—or any combination of these options.
Bigger Reach as the content can be made available through Prime Video in the U.S. and other locations where it is available—on all supported devices—Fire TV, phones, tablets, game consoles, Smart TVs, and from the Web.
Optimization Capabilities that enable content creators to improve performance by using performance metrics such as minutes streamed, number of subscribers, projected revenue, and payment history.

Patreon

Patreon is a subscription-based platform that enables content creators to generate regular and passive income from their content. This is like an ongoing Kickstarter that is founded on the traditional model of crowdfunding where affluent people would support their artists through regular donations. This platform is quickly becoming a favorite amongst content creators as it provides for higher content creator engagement with the audience, and the opportunity to make more money by attracting more contributing members. Whether you are a writer or a crocheter, Patron is the site for you because it supports both audio-visual releases and written content. The platform also comes with reward levels where higher-paying contributors get access to exclusive content from the creator. The payments are made through Stripe or PayPal depending on your location with a profit share structure where the creator keeps 95% of all earnings.

Onlyfans

This list would not be complete without including only fans. In the past few months, this platform has risen to become one of the most lucrative ways of making money through R-Rated video content. However, contrary to this predominant opinion that onlyfans is just for R-rated content; this platform caters to other video genres. Content creators make money through tips or pay-per-view monetization models. Payments are made through Visa Direct, Direct Transfer (OCT) and International Bank Transfer (SWIFT).

Conclusion

Video creation is a lucrative way of generating recurring and passive income. Most people are familiar with YouTube but not with other sites that pay for video content. If you want to make more money, you can register for most of these platforms and use them to generate traffic for subscription based platforms like Patreon that provide monthly payments. Always remember that in video creation, quality is better than quantity! Nobody wants to see a production that looks like it was shot with low-grade equipment. Nowadays, phone cameras have evolved to become some of the best content-capturing devices. Use them to your advantage and upgrade to better equipment once you begin to make more money.

February 6, 2021 by Catherine

20 Free and Paid Best Ecommerce Platforms for Dropshipping

Introduction

So what is dropshipping?

Dropshipping is one of the most profitable business models on the internet where you sell products but do not keep them physically or have to deal with the stress of shipping them. When you become a drop shipper you bridge the gap between the buyer and supplier and get to keep the profits. The model works through a few basics. Let’s say you are interested in selling cell phone cases. You will find a supplier (usually from China) who sells the product at a cheaper price. You will then sell the case to a potential buyer at a higher price thereby making a profit. When an order is made on your website, you will make the purchase directly from the supplier who will ship the item to your client’s address.

Is dropshipping worth it?

This is one of the simplest and most structured ways of making money online. You don’t handle the hassle of shipping products directly to the client. Your responsibility begins and ends with you accepting the payment and making the purchase on the supplier’s website. As such, dropshipping is totally worth it!

Platform Hosting and Self Hosting

Before you begin drop shipping, you need to have a storefront for your consumers and a backend interface where you handle the orders. Several service providers offer these storefronts and backends depending on your preferences and needs. The general difference between these providers is that they are either hosted on a platform or self-hosted. Self-hosting is the most preferred choice for those who want complete control of their shop and have basic to novice knowledge of these self-hosting platforms. On the other hand, platform hosting is for those looking for a drag and drop builder where everything is designed for you and you just have to make a few adjustments to create the storefront. In the long run, self-hosting platforms are often preferred over platform hosting sites because of the flexibility and low costs associated with running the platform. This is because most hosted platforms charge a monthly subscription fee and a commission on all the sales that can accrue over time.

Differences between Platform Hosting and Self Hosting

Dimension of Difference	Platform Hosting	Self-Hosting
Hosting	Platform Hosting	Self-Hosting
	Host your website on servers owned by the platform you have signed up to.	Host your website on hosting servers of choice.
Costs	Comes with a monthly subscription fee, commission on sales made, commission on the usage of payment processors.	Comes with an annual fee for a domain name and hosting.
Storefront Customization	Comes with limited customization options based on a selection of storefronts and capabilities offered by the host	Comes with full freedom in customization as you can choose from hundreds of thousands of themes and storefront interfaces.
Expertise	Beginner-level expertise is needed as it comes with drag and drop or Artificial Intelligence builders making it easy to create a storefront in a few minutes to hours.	Beginner to intermediate expertise needed on the software of choice. For instance, if you choose to use WordPress and Woocommerce you will need to have basic knowledge of store optimization and WordPress.
Integration	Comes with automatic integration to third-party sites like social media platforms, plugins, and themes.	Comes with manual integration to third parties sites as you have to download and install the required plugins to enhance the capability of your shop.
Usage	Cannot be used for some purposes and you have to pay to upgrade from personal to commercial usage. Additionally, you are prohibited from selling some types of goods or services according to the selected platform.	Can be used for personal and commercial purposes without any restrictions on products or services offered.
Support	Comes with customer service that often helps troubleshoot problems regarding your store’s integration.	Comes with a massive support community that is available through forums and social media groups where you can access both customer and technical assistance support.
Ownership	You do not own your shop as the provider can decide to terminate your services if you violate any of their principles. Additionally, you are selectively dependent on their hosting capabilities and may experience some downtime depending on problems faced by the company	You have complete control and ownership of your shop and may experience hosting issues that can be resolved by the hosting provider. These issues can be circumvented if you choose a good hosting provider. You also run your shop according to your preferences and have the ultimate decision on when to terminate or keep it operational.

You can use the above differences to set a criterion for the selection of a service provider according to your needs. That being said, there are several hosted and self-hosted service providers that can help you create a dropshipping store.

Dropshipping on Shopify

What is Shopify Dropshipping?

Shopify is a website hosting platform that has several apps that enable users to create dropshipping stores within minutes. This platform is designed to help newbies who have no skills or interests in word press. The technical aspect of website building and maintenance is handled by the Shopify team and you get to deal with the simpler things like theme selection. The site has some apps like oberlo that comes with a chrome extension that links stores directly to suppliers. If you are new to the game and have no idea what you are doing then this is the best hosting site that will match your needs.

The convenience comes with a cost that is considered to be fairly affordable at $29/month for the basic plan. This is payable after a 14-day trial where you can get sales and find the money to invest in the plans. Shopify apps are conveniently located in their app store and provide a variety of services like email marketing, website optimization, and social media campaigns. You can choose to purchase a domain, which is often recommended, or have the free “myshopify” domain. If you are tech-savvy you can create paid apps and list them on the Shopify app store through the Shopify partners program. This program comes with several perks that include the ability to create unlimited dropshipping stores. All in all, if you can overlook the Shopify pricing plans; it is a great option for those looking for convenience and efficiency. I have created a step-by-step guide for those looking to set up their Shopify stores which can be found here.

Some of the features of Shopify include:

Simple to use Interface: Shopify comes with a simple set up process where you can create your shop from existing themes. The provider also comes with several themes (free and paid) that you can integrate with your store to enhance its capabilities. The platform comes with a free trial that will help you determine if it is the best provider for your needs.

App Integrations: Shopify has a store where you can access several apps or plugins that can help you enhance your store’s capabilities. These plugins range from automation of order processing and providing free shipping options for your users to SEO optimization and email marketing.

Security and Reliability: One of the best features of Shopify is its robust security system that enhances its reliability. To be able to provide e-commerce solutions you need to ensure that the financial information of your consumers is stored safely. Shopify ensures that this information cannot be accessed by third parties.

Dropshipping on Alidropship

Alidropship is an all-in-one dropshipping plugin for WordPress that helps you create stores and sell aliexpress products. This plugin is designed to help you import products and reviews from aliexpress stores, automate pricing, and track analytics on your dashboard. The main difference between alidropship and Shopify is that the former is built on WordPress while the latter is hosted on its servers. Alidropship comes with a one-time buying price of $99. WordPress may sound complex and difficult for beginners but this plugin simplifies the process. Why would someone choose alidropship over Shopify? It is considerably cheaper to maintain and operate and the owner has more autonomy and flexibility over their store. On Shopify, the maintenance costs usually increase with revenue. As such, it can become quite expensive for high-revenue stores. On alidropship, you only have to pay for a domain name, hosting, and the plugin which usually amounts to less than $150 annually depending on your service provider. Alidropship also has a team of dedicated technicians and support that are available 24/7. The good news is that you can get a ready-made, custom-built store, from alidropship that is optimized to make sales from the launch date!

Some of the features of alidropship include:

Easy Customization: The alidropship handles all the backend and front end needs of your store depending on the package you selected. All you need to do is select the domain name from options that they will provide for you and choose a theme for your shop.

Customer Support and Technical Assistance: The alidropship team offers 24/7 customer supports that can help you figure out the technical issues that come with operating a WordPress site. They also offer support on customer related issues which is an indeed bonus.

Sales and Marketing: This is the only platform in this list that provides sales and marketing support. Alidropship was created by former dropshipping store owners and this comes with full sales support. Some of their packages come with a sales and marketing package where you will be provided with replicable Facebook ad sets that have been tested in previous stores. This helps save the time and money required to test some of the ad sets.

Mobile Responsiveness: Alidropship stores are built on WordPress and customized for mobile phones which will increase your sales since a significant percentage of buyers use mobile phones and tablets.

Dropshipping with Woocommerce

Woocommerce is a free open source plugin similar to alidropship that facilitates the creation of e-commerce stores on WordPress. It is estimated that 20% of e-commerce stores use this plugin. All you need to run a Woocommerce store is a domain name and hosting which you can get for less than $100/annually on sites like SiteGround. This plugin is for those keen to start their stores on a budget. Woocommerce is often preferred and chosen by many drop shippers because of its flexibility, lack of product restrictions, affordability, convenience, and reach. Woocommerce also allows you to work with several suppliers which help you build a diversified inventory. This is significant when finding reliable and dedicated suppliers.

Some of the features of Woocommerce include:

Easy to use interface: Woocommerce requires integration with a website building platform like WordPress. This may seem daunting but the provider comes with a host of themes that are designed for minimal customization which makes it easy and simple to customize.

Cost: Woocommerce is one of the free options in this list. The only costs you might have to deal with are for a domain name and hosting that can be purchased for less than $50/year depending on your provider.

Support: Woocommerce comes with an extensive support community that can be found in various forums across the internet.

Dropshipping on Big Commerce

Big-commerce is a hosting site similar to Shopify but with more integrations, themes, and features. This site is preferred by those looking for diversity and affordability. Big-commerce pricing plans are entirely structured on subscription models and you don’t have to pay any transaction fees unlike Shopify and other hosting sites. One major advantage of dropshipping on big commerce is the diversity in sourcing apps. The site connects store owners to several suppliers like Alibaba and inventory sources. This is particularly great for people looking to build brands from their dropshipping products. The site also has logistics apps that simplify shipping and tracking.

Some of the features of Big commerce include:

User-friendliness: Big-commerce is tailored for new users. The simple to use interface will have you launching your site in a matter of minutes. Additionally, the site offers a free trial which can help you determine if it’s suited to your needs and capabilities.

Support: Big commerce offers customers support and technical assistance that can be accessed through their chat, email, and phone functions.

Dropshipping on Magento

Magento eCommerce is a service provider that enables drop shippers to sell products on customized storefronts. Magento is considerably cheaper than other hosting providers, does not have any commission fees on orders, uses an extension for automatic order fulfillment, and provides multi-channel platforms through the proprietary Magento marketplace. Multi-channel dropshipping is a new concept that provides merchants with a wider customer base through several offline and online marketplaces. Magento Open-source e-commerce software is appropriate for new merchants who want to test different markets concurrently without having to focus on traffic channels.

Some of the features of Magento include:

User Friendliness: Magento provides advanced user capabilities through a simple and user-friendly interface. However, you will need extra support and technical assistance to solve some errors or enhance the capabilities of your store which can be difficult to find. As such, this option is mainly recommended for those who are already familiar with the platform or have a background in website building.

Support: Magneto’s support is provided through their forum where store owners can interact with other store owners and the company’s officials. While this is not an ideal way of getting technical assistance, it can help you address your issues.

Price: Magento is free and anyone can create an e-commerce store in a few minutes to hours depending on their level of expertise.

Dropshipping on eBay

Dropshipping on eBay is one of the most profitable e-commerce models in this category. eBay is a marketplace where sellers and buyers converge. The advantage of this platform is that you do not have to look for buyers as millions of buyers visit the site daily. eBay dropshipping policy states that sellers are allowed to drop ship if they source the product directly from a wholesale supplier. As such, it is permissible if you source your products from aliexpress and other wholesale suppliers. Many people are afraid of dropshipping on eBay for fear of losing their account. However, if you stick to their policies, have a great niche, and process orders promptly then it is a profitable and highly lucrative business model.

Dropshipping Services on Wix

Many companies have a remote workforce that supplements their in-office staff. This presents an opportunity for those interested in owning a home business. You can drop ship services by offering unique and skilled services for these companies. Think of it this way: a graphic design agency employs graphic designers to provide services for their clients. You will be employing third-party service providers to fulfill orders for your clients. All you have to do is create a website based on service, find affordable service providers on sites like Fiverr and Upwork, and market your services to potential clients on social media and other platforms. We have a step-by-step tutorial on creating and launching your dropshipping service’s website that can be accessed through this link.

Conclusion

Dropshipping is a business model that has existed for ages and has been perfected over the last couple of decades with several technological advancements. This lucrative and profitable business model underpins some retail giants and popular online stores that you can replicate to increase your passive income. Development of your store can result in creating a more stable and full-time income or part-time income. It is important to remember that this is still comparable to a physical store and your level of effort determines how much you can earn. There are several other notable providers such as OpenCart which is free to use platform. Before deciding on a provider, create criteria based on your needs and that of your target audience. This is integral in determining what features and capabilities your store will need. Additionally, always think about your store in the future. If you might need to re-edit and customize your shop then you should go with self-hosting platforms. However, if you will stick out with the current design of your shop then go with the platform hosting providers. Also, consider the costs of operation because this can slowly eat up into your profit-making your business unprofitable and doomed to fail.