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Published On: Fri, Oct 8th, 2021

Money out of thin air? How you can get money with little effort

Remember your parents scolding you and saying that money doesn’t grow on trees? While they were right in the sense that you won’t find a tree that sprouts money, they weren’t technically correct. There are many ways to earn a living that take only a little bit of effort.

Here are some of the easiest ones that almost anyone can do and you won’t even need short term loans from the best licensed money lender in Singapore.

Play to earn – Twitch streaming

For most teens and young adults, this is a literal dream come true. Twitch is an app that allows you to stream the mobile, PC, or console games that you love to play. It is based on a subscription model where fans of your gameplay skills reward you with cash. 

The top Twitch streamers for any game can earn up to hundreds of thousands of dollars per month simply for having fun playing. They also enjoy freebies from game manufacturers and studios, tech companies (headphones, monitors, consoles, desktop PCs, etc.) as well as apparel and lifestyle companies. 

photo/Gerd Altmann

Surf to earn – use the internet

One of the best ways for any company to quickly expand its user footprint is to use online advertising. However, because the online ads market is so crowded, companies have begun to use a ‘pay to play’ strategy. They actually pay their users a reward to use their products!

This includes watching ads, completing surveys, visiting websites, and using apps. Basically, it is paying you for things that you do anyway for free. With various companies offering a range of different schemes, you will have to try some and find which works best for you. In fact, you could use them all. Just avoid any that ask for a subscription fee.

Surf to earn – get others to use the internet

See the little (and sometimes huge) ads that run across your favourite websites? They weren’t designed just to irritate you but rather to earn the website owners money for no effort. These ads are displayed according to the user profile of the person who visits the website, based on their likes and dislikes, purchase history, and other similar factors. 

You can also add links to products within the content of your pages. These links take users to shopping websites with a unique affiliate code. When they spend money on those products, you earn a commission that is a percentage of their bill simply for funnelling them to the online store.

Spend to earn – spending rewards

We all use either a debit or credit card virtually every day. Almost all of these cards have some sort of rewards scheme that gives you back a percentage of what you spend. Because almost every bank and credit card company has some type of rewards scheme, you will have to compare to find the best one.

Look deeper and you will see that they also have tie-ups with particular stores and other card providers. By mixing the right combination and using these cards for all your groceries, utilities payments, dining, and shopping, you could earn thousands of dollars in rebates, vouchers, and free gifts every year!

Do nothing to earn

Yes, literally nothing. All you have to find is the right bank or financial institution to give you interest on your investments. Banks pay interest on savings accounts but it is so small that it rarely even covers the rate of inflation. That means your hard-earned money is actually shrinking! 

One good option is to use an online-only bank. These banks do not operate any brick-and-mortar physical branches. Because of those cost savings, they can afford to pay you higher interest. However, they also impose restrictions like a limited number of withdrawals and online-only transactions. Rather than a downside, those restrictions can help you control your spending and save even more.

What not to do

Money is a great motivator but be sure to avoid these mistakes, even if you need a fast cash loan to start with one of the ideas above:

Don’t sell illegal items

Many people are tempted to sell prohibited items because there is the potential to earn a huge mark-up. Unfortunately, the penalties in Singapore for distributing illegal intoxicating substances, weapons, and cigarettes are very severe. 

You could end up spending many years of your life behind bars – the risk is simply not worth the potential rewards.

Don’t borrow money illegally

Singapore regulates the moneylending industry and it is easy to find the best licensed money lender in Singapore. They offer quick and easy approval for short term loans, free of the danger and stress of borrowing from loan sharks.

Author: Jeannie W

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