Tuesday, July 10, 2012

Finance Formula for people who do not Work

There comes a time in everyone’s life when their financial circumstances become quite unfortunate. You might have to leave your job, or sell your business for that matter. Most of the people get depressed in such situations and stop trying to earn money.

While the economy is facing crisis and it is quite hard for an average man to make his ends meet, but taking some wise steps and working hard on them can help you get back on your feet in no time. Here are a few things you can do for that:

Loan for Jobless People

Many companies now give loans to jobless people above 18 years of age on reasonable terms. They just require you to hold an active bank account so that money can be deposited in it. These companies do not look at your credit card rating. Even if your credit card rating is not good, they give you loan and you can use that in many useful ways to start earning some good income again. Some companies have agreements stating that the money you’re borrowing can be used only for specific purposes but many companies do not care about this and you can invest the money anywhere you like.

Loans for the jobless people are available in both secured and unsecured forms. In the secured form of loans you have to sign an agreement with the company putting some of your valuable assets as a security against the loan. In case you don’t have any asset, you can opt for the unsecured form of loan. This loan comes at a higher interest rate, due to absence of any security. So these kinds of loans are a good way to start for people who are not working.
Now how can you use this money that you have and put it to good use? Here are some of the ways!

Start a business and sell it!

One of the easiest ways to get rich is to start your own business and eventually sell it. You need to have that entrepreneurial spirit in you to achieve this. If you’re able to realize a real life problem and can find an easy solution for this then you have created real value for the customers. But remember the hard work and careful planning that accompanies this. If you think you’re not up to it, don’t go for it as many new businesses fail to continue to the point where they would have worth.

Get self-employed: Exploit your skills!

If you have a special skill that you think you can market and then remain independent, then it is a very good and unique way to get substantial rewards! Authors, sports stars and entertainers etc. become rich the same way. Since you’re the one who keeps all the profits, so being
self-employed has greater value than working for a company. But you have to have something special to prove your worth. So if you have a skill that you think is remarkably developed, don’t just sit around wasting it!

These are just a few ways that can help you to start earning money if you’re unemployed and have no business. A few other ways that can help you make money if you are not working are:
  • Build a portfolio of stocks and shares.
  • Join a start-up and get stock.
  • Develop property and sell it.
  • Participate in local studies.
  • Work via apps that pay you.
  • Do online surveys for large companies.
  • Work with a group of friends.

The author likes to write on issues related to finance and also provides good solutions to them. He’s an expert in writing on credit card, money-making and money-saving techniques.

No comments:

Post a Comment