Free money. That’s a dream that most of us aspire to achieve at some point in our life; where we can do the things we enjoy while bringing in enough money to cover our living costs. However, it’s an aspiration that is impractical for most of us due to a myriad of reasons. The sad reality is that, unless you come from generational wealth or you get a major leg-up by way of parental support, you are required to make your own way in life and earn enough money to look after yourself. The good news is that, while you might not be able to make enough free money to live a luxurious life without having to work, you might be able to set up a system for yourself where you can get enough free money to support your monthly income and vastly improve your standards of living.
Let’s look at whether easy money is a real thing and, if it is, how you can get this.
Is there such a thing as free money or easy money?
The best answer is yes and no.
There are many avenues available for you to do a few menial tasks and earn money in dollars (which is a big amount in Sri Lanka). However, even in dollars this amount might not be a lot of money and getting that money into your bank account comes with many associated fees that might wipe out your profit. So, while you can earn free and easy money, it might not be enough to be your sole source of income.
Some of these avenues are:
Paid Online Surveys
There are websites that offer money to people who take time to fill in various surveys. The pay-off depends entirely on the website; you can either earn a decent amount for a very easy task or waste your time filling in dull surveys for pennies. These surveys range from product reviews and ad campaign feedback. Overall, the amount you can earn tends to be very meagre for rather dull work; think USD 0.50-1.00 per one solid hour of work. The upside is that these require little to no skill and if you’ve got plentiful time on your hands, you can earn a little bit on the side.
E.g. Survey Junkie
Get Paid to Surf the Internet
There are various companies that pay you for various tasks on the internet; it could be watching a video, shopping online, playing games or even doing online surveys. These websites consolidate various such activities and you can earn money just for doing the same things you normally do online. These websites pay either in the form of gift cards, online coupons or actual cash.
E.g. Swagbucks, InboxDollars, Rakuten
While both the above options can be simply done by someone with just an internet connection and requires no other major skills, the reality is that they don’t really pay well enough to become your only source of income. However, if you are looking for a way to generate money with little to no effort, the best option is to look at generating Passive Income for yourself.
Passive income is basically any avenue that generates money for you consistently with little to no effort. The catch is that these often require initial investments that range from medium to large scale, and might take time to generate money.
If you have a significant amount of money available to be used for investment, one of the best methods is to invest in land, which will rarely depreciate in value unlike storing your money in currency. If you take the additional step of cultivating or growing on your land, you can not only retain your land but you can generate passive income through sale of these crops and plants. This requires a massive initial investment to purchase the land, and time and effort to arrange for planting and people to manage your estate, but in the long run, it will be sure to not only retain the initial investment and more, but also generate money regularly throughout its lifespan.
Property rental is also a relatively easy way of generating money. However, this method also requires you to own said properties or be able to purchase. It could be bare land, office building or even a house. Once you have acquired this, you simply have to allocate a person to manage the daily operations (maintenance, payment collection etc.). You will not only generate a regular income but retain ownership at the end of the time period.
Financial investment allows you to grow your money almost exponentially, but it usually requires a bit of time and effort to keep up with the economic conditions and have an amount in hand for the initial investment. The upside is that this initial investment need not be a big amount. If you have no money to spare, a quick loan from OnCredit.lk put into a solid investment opportunity would generate not only enough money to repay the loan and the interest, but also make a profit.
(Disclaimer: OnCredit.lk does not advocate borrowing money for investments that carry any risk)
Risks of Free Money
Unfortunately, the concept of free money is so lucrative that there will be thousands of scammers out there looking to take advantage of people looking to make some easy money on the side.
So while most free money and easy money opportunities come with a major caveat emptor, with a little caution and common sense, you can be well on your way to earning a few hundred dollars extra per month.