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Ways To Add More Money To Your Pocketbook

a flat lay of 2 people working on a financial plan with pen paper and laptop

*This is a collaborative post.

You can probably use some more money right about now. Everyone can. Having proper funds in your account is necessary for everyday living expenses, fun and frivolity, and lessening stress in your daily life. Luckily, there are some easy ways to make more money.

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Focus on Focus Groups

A focus group is a seemingly randomly selected group of people who are brought together (usually in the virtual world via Zoom, etc.) to discuss a topic, product, or service that a market research team is assessing for a business client.

You can sign up with some of the best focus groups to make money. Pick as many as you like. Be sure to answer your demographic information and any other queries as this helps the researchers determine who they would like to be involved in their focus group.  

Once selected, you will receive a product, a request to participate in a study, invited to join an online focus group, or fill out a survey. Sometimes all of these actions will apply to the specific market research endeavour.

You will be asked to join and report honest opinions regarding your experiences with the related products or services. The researchers always request that you offer your honest feedback as this will help them in reporting on the efficacy to their clients. By participating, you will receive compensation for your time. And, sometimes you even get to keep the products.

Beyond being a relatively easy way to make some extra money, focus groups can provide you with some collateral benefits.

  • Focus groups can help you build confidence if you are uncomfortable interacting with new people. The online groups are a safe and contained environment with set time limits so you know how long you will need to be “on.” This is especially important for introverts.
  • As you will need to share your opinions on the subject matter in a focus group, these forums can assist you with your public speaking skills. It is a perfect platform. You can write up note cards in advance as reference points.
  • You get to try out new products or services depending on the market researchers’ needs. In some instances, you can even keep the products once the focus group has ended.

Track Your Money

Any proper discussion about earning money should always touch upon paying attention to where it goes every month. You should know where your money goes every day. To that end, you must have a plan to document your income and expenditures.

Begin the process by deciding how you will track your money. Are you a pen-and-paper person or will an app on your phone better serve your needs? Whatever you choose to do, make sure it is uncomplicated and easy to accomplish, otherwise, you will be much less likely to follow through.

Next, gather your bills, including monthly, annual, and one-off expenses. Look at your credit card and bank statements. Add any income information, along with side earnings from focus groups.

Now it is time to write it all down. This step will likely be the most time-consuming. Stick with it as you will understand how easy it is later when you can see where your money is going.  

Once you have the basics down, you will be ready to continue this process as you move throughout your day. Every time you purchase a quick morning cuppa, or a plant for your mum you need to track it immediately. Yes, you can save the receipt and log the expense when you return home; however, many shops and stores are electronic, and you can decline a receipt. 

Make your life easier by simply handling the entry immediately after the purchase. It will only take seconds, and you will not need to worry about it later.

Review your income and expenditures every month to determine whether or not you need to readjust your spending habits. These actions will help you create a realistic budget that you can maintain. By doing so, you will begin having a healthy relationship with your finances and will likely be able to add more money back into your pocketbook simply by spending wisely.

Watch this video for insight into why you should track your expenses and how to do it.

Now that you know how to make extra money, it is time to earn it. Once you do, always remember to track where your money goes. You will be glad you put in the effort once your finances are in order.

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