Tags: stocks, make money, frugal living, plan

Frugal Living: Stocks and Ways to Make Money

20 August 2020

Whole life insurance vs Dividend Stocks

 

Stocks are an effective method whether you are living frugal or not, for the development of wealth. The definition of stocks are they are an investment into a company, which means you own a share in the company which distributed the stock. 

 

In this article I will address stock market investing and ways to make money in lamest terms, as well as provide tips to frugal living towards the end.

Definition of Stocks

frugal living: stocks and ways to make money

Essentially stocks are ways to make money through the building blocks between ordinary people. and some of the most profitable businesses on the planet.

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Stocks are a very effective technique for companies to raise money. This way to get money aids them in expansion and to finance product lines and other selling points.

 

The whole incentive for your average Joe or Joanne is to inject some of his or her funds into stocks to get a return back for her or his investment. 

 

The most popular way with stocks to make money is selling a stock for a profit once the price goes up on the market. This action can result in a lot of winnings for the stockholder, especially if there are many stocks in different companies purchased.

 

You can also make a profit from stocks if they pay dividends, some stocks automatically payout to you; and it is paid automatically and quarterly by the company each year.

 

The smartest way to venture out onto the stock market is to have a finger in as many pies as possible to shrewdly pick to invest in different companies. Through diversification as this is commonly considered, the odds you will profit are greatly increased.

 

The further apart the market and the destination of each of these different companies the better. However, it is possible to be over diversified. Mutual funds for example are okay but if you have too many chances are you are way over diversified.

 

 

The Smartest Way to Make Money

 

So the smartest plan in terms of buying stock is to scout around the stock market, research companies you like the look of and side with the ones you favor the most. A lot of the most intelligent stock buyers have a good eye to recognise up and coming companies whose stock is largely just going to go up. 

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Stocks are just one of the ways you can make free money in the global world and during this pandemic. Especially while it seems so many are living frugal whether by necessity or fear, ways to make money will surely help ease peace of mind.

 

The U.S Small Business Administration is paying 6 months of principal interest, debt relief and providing automatic deferments for businesses that took out loans.

 

Another ideal way to sort free money for yourself is by making sure you have a savings account and you're getting paid interest on them! This is one of the perks of having a savings account or liquid forms of money like certificates of deposit or money market accounts.

 

Ways to make money while we sleep are existent in the banks as well as the stock market. The purpose here is to get you thinking of more ways to invest and this should include the stock market in addition to your bank.

 

The best starting point to capitalize on the great free money bonus many banks provide is to scout around the market and track down the best interest rates on offer by whichever bank.

 

A great technique in maximizing the potential for the highest profit from these savings is to online banks rather than traditional ones. This is because online companies have lower costs and focus more on getting the best returns for their customers.

 

Be careful though, free money in the form of interest is only free if your bank actually pays it; and at no headache to you. Some banks are not as reliable as they seem. So it's very important you check out the fundamental analyses before you bank with any bank. 

 

Quarterly earnings reports are public information for shareholders, and are one great way to ensure you can make money with your bank. Or you can ask Boracchia Wiviott Wealth Partners to help, we are the renowned registered investment advisory for accessible financial planning and private wealth management in the stock market and beyond.

 

Other ways you can make good money is to make the most of cashback schemes run by the business you shop with. Many offer back money relative the money you spend which is a guaranteed way of earning cash.

 

There are also reward sites online such as Swagbucks which reward you for answering online surveys, shopping online and watching videos. The more of these tasks you complete the more gift cards you earn as your reward.

 

There are countless survey sites online offering rewards for you to participate in their gathering data for censuses as well as shops offering rewards for shopping with them you just need to research online and you will have more effective ways to make free money.

 

 

How To Financially Plan Your Best Frugal Life

Frugal living is often misconstrued as something negative but it isn't. 

 

Frugal living does not mean cheap. Cheap is deliberately going out of your way to purchase the lowest-priced items product or services regardless of their quality. 

 

Frugal living is not that, it means weighing up your priorities and cutting costs on things which are not as important to you. It's clever spending 

 

it is very important for you to have a presence of mind towards your spending habits and finances during these tough times to achieve a budget-friendly life you need to plan and be vigilant, this way you can maximize your income which is invaluable in the global world and during this pandemic.

 

 

Effective strategies to implement within your home:

frugal living: stocks and ways to make money

∙ Budgeting

Establishing and keeping in line with a budget has to be the starting point for anyone wanting to be frugal . Whilst this process isn't exactly fun, it can also be a nice surprise and you can uncover forgotten money which was wasted on areas which weren't a priority and could be sacrificed. 

 

∙ Meal Planning

A drain on your personal finances can be if you resort to convenience eating to save time and effort for lots of people in everyday life. However, you could save a lot money by simply meal planning and mapping out which meals you'll have when. You can end up saving around $10 a day and after time that certainly mounts up as extra money.

 

∙ Cook in Batches

Following on with a similar thought pattern, cooking in batches and then reheating portions later can be very economical. You can pick and choose your favourite dishes to have when you want them.

 

∙ Make The Most Of Your Food Stores

Another great way of garnering funds is to make the most of the supplies you currently have. Many people let food stores sit and have emergency backup supplies when this product could be put to use imminently to save funds.

 

∙ Have a Keen Eye For Coupons

Coupons are your best friend through leaner times. It's amazing how many coupons you can pick up and utilise if you're vigilant with using them. There are many attached to produce and in magazines and fliers so get collecting for another great cost-cutter.

 

∙ Sell Things Which are Redundant To You

Many people have ornaments, toys, electricals etc around the house which aren't being put to use or rarely. Put these up for sale to create a great extra source of income.

∙ Return Produce You Don't Need

If you've lately done a shop for clothes and even food and there are products you don't need or want you can always take them back to where you got them providing you have the receipt.

Frugal living: stocks and ways to make money

∙ Walking and Biking

Another great shaving off your finances can be choosing to bike and walk instead of taking the car. This swerves the draining of your funds that car fuel takes and makes you healthier in the process. A win-win situation.

 

∙ Compare The Market on Insurance

Always have a keen eye on whether you are parting with your insurance costs to the most cost-effective providers on the market. There are sites online which will compare all these providers and their costs for you at a glance. So you can weigh up which is most suitable for you taking all the variables into account.

 

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Lea Wiviott Boracchia, Co-Founder, FinancialPlans.Info and InvestingProfits.Pro, both apart of the renowned Boracchia Wiviott Wealth Partners

We are a registered investment advisory focused on accessible wealth planning for everyone. Our mission is to help women, men and people of all ages, races, locations, and anyone plan and secure their most successful future. We were originally established in 2005 by way of 3 firms before my husband Marc and I registered our independent advisory in California.

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Lifestyle Experts and Financial Planners, $1mil + by 30, Trailblazer of Minorities & Women in Real Estate & Investing in the Stock Market. Mompreneur. Dadpreneur. Private wealth meets your favorite motivational speaker with actionable items you can make money online from efficiently! I look forward to connecting with more badass women and men, ;) to your your best life with us as your leaders to which are the best stocks to buy right now, Lea, Marc & Team

 

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