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[ad_1] The commerce ministry has tightened the scrutiny of letters of credit (LCs) submitted by traders seeking exemption from a ban on wheat exports, as it fears that many of these bank guarantees may turn out to be fake, trade sources told FE. Exporters have submitted LCs to seek permits for despatches of over one million tonne (MT of wheat, way above the initial trade estimate of just about 0.4 MT, leading to suspicions of attempts by unscrupulous elements to abuse the LC route. “Some of the banks that have issued the LCs are calling customers to check if the LCs are based on actual contracts firmed up before the ban,” a wheat trader said. The closer scrutiny also indicates the government is in no hurry to relax the export ban, said another source. While prohibiting wheat export on May 13 to control spiralling prices, the government had made it clear that supplies that are backed by LCs issued before the ban was announced would be allowed. Moreover, officials have stressed that India would also cater for the genuine need of neighbouring countries and food-deficit nations through government-to-government deals and honour supply commitments already made. Subsequently, the commerce ministry partially eased the order and permitted despatches of wheat consignments that were either handed over to the customs authorities for examination or registered in their systems by May 13. This relaxation alone was estimated to facilitate clearance of about 0.35 MT of wheat, on top of the initial expectation of LC-backed exports of another 0.4 MT. These will still be about a third of the estimated 2-2.2 MT currently at various ports or in transit. Before the ban was slapped on May 13, about two million tonne of wheat was already exported this fiscal. The ban surprised the commodity market, as it came just weeks after the government was targeting exports of at least 10 mt of wheat to partly fill in a gap created by the conflict between Russia and Ukraine. However, an expected crash in wheat harvest due to intense heatwave since late March forced the government to resort to the ban. Although the farm ministry has now trimmed the wheat harvest forecast at 106 MT for the crop year through June from 111 MT estimated in February, analysts expect the output to be much lower – about 90-95 MT. [ad_2] Source link

[ad_1] The 2022 housing market has been underscored by interest rate spikes and refi decline and lenders are working hard to adjust to new borrower trends. HousingWire recently spoke with Barry Coffin, managing director of home equity title/close at ServiceLink, about the ways lenders can capitalize on these trends by revving up their home equity solutions. HousingWire: Between inflation and additional interest rate hikes coming down the line from the Fed, why is now a smart time for lenders to start prioritizing home equity products?  Barry Coffin: It’s a good time to prioritize home equity transactions for a couple of reasons. First, with the decline in refinance transactions caused by rising rates, origination volume is declining at a rapid rate. Secondly, home prices continue to surge, giving homeowners more tappable equity than they have had in several years. The combination of both allows lenders to seamlessly shift resources from refinance operations into home equity operations.  In addition, the combination of the loss of refinance cash out transactions and also government stimulus payments due to the pandemic will prompt homeowners to use the equity in their home when needing to access cash. We are seeing many lenders take advantage of this opportunity by increasing their share of the fast-growing home equity market. HW: As lenders adapt their strategies to better align with our rising rate environment, prioritizing home equity options could prove pivotal, especially for older Americans. What are some of the most valuable home equity solutions lenders can add to their arsenal of offerings? BC: With the increase in home equity volume, lenders should be looking to add the same type of digital solutions they focused on adding to their refinance business, to their home equity offerings. Over the last few years, lenders have focused on digitizing their processes with the goal of reducing the cycle time from application to closing. These digital solutions, especially those offered by ServiceLink, work just as well in the home equity title/close process. They include automated title, digital signing solutions and eClosing offerings. Technology equals efficiency. A lot of lenders haven’t spent much money on technology for home equity processes. They’re still using legacy in-house technology for their loan origination system and their processes simply aren’t efficient. When you think of efficiency as a way of managing the cost of the product, investing in technology makes sense. Home equity lenders are paying the fees, unlike a first mortgage transaction where fees are paid as part of closing costs, home equity lenders generally will pay the costs of the transaction for their borrowers. ServiceLink provides the technology to keep the process efficient and keep in-house costs down while helping lenders reduce the time it takes to close a loan. During recent years, even though home equity volume was less when compared to refinance, our home equity groups still participated in the development of the technology and refinement of the services and the products that we offer. HW: As life expectancies continue to rise and more older homeowners face the possibility of outliving their retirement savings, the demand for home equity services is likely to increase. What should lenders be doing now to upgrade their home equity options and educate their customers about the risks and benefits of these products? BC: As previously mentioned, from a home equity perspective, it is important to focus on efficiencies to reduce the cycle time to close a loan. There are lenders out there that are still taking 35, 40, 45 days or longer to close a home equity loan. A lot of our lender clients are working with us to reduce the cycle time by taking advantage of our products and seeing major improvements in compressing the closing cycle, reducing it by several days. We have lenders talking to us continually about their goal of closing a home equity loan in as few as three to five days with our technology being the key to bringing speed and accuracy to the process. HW: In a housing market that is constantly shifting and evolving, how can ServiceLink help lenders better serve the changing needs of their home equity clients?  BC: A lot of what we’ve built in our Home Equity Operations is focused on customer service and on technology. From a customer service perspective, we focus on ensuring clients are getting the high end service they expect from a dedicated team of experienced, trained operators. From a technology perspective, our EXOS technology is specifically based on the changing needs of lenders and the demands of borrowers.  Our EXOS Title offering allows us to provide an automated title product and we’ve streamlined many other steps along the way. From the borrower side, either lenders or consumers can schedule their closing appointment for the exact date and time of their choice using EXOS Close based on real-time signing agent availability. That way, they can control their own closing timeline. We give them the technology to be able to schedule that appointment, and we send a mobile notary to their home. They get the loans signed much quicker by using our technology and our data shows that consumers often select the earliest date and time available to them. We also offer a variety of eClosing solutions, for wherever lenders are on their digital journey. We’ve seen increased interest from lenders and borrowers alike in virtual closing for home equity loans. ServiceLink offers to help lenders with the transition to eClosing with our array of products, with hybrid products for lenders that are not ready to commit to a full eClosing. We have multiple options for both insured and uninsured title, and we can offer eClosings that still facilitate in-branch or face-to-face closings. The post Prioritizing home equity solutions in a rising rate environment appeared first on HousingWire. [ad_2] Source link

[ad_1] If you are looking for the best ways to invest 20k wisely, you’ve come to the right place to learn where to start. I’m going to show you how to invest that money based on your current attitude toward investing, whether your primary goal is to make sure your money is safe and sound or it’s to earn as much money on your money as possible. Sneak Peek: Top 3 Ways to Invest $20,000 High-Interest savings View rates for your area see rates Fundrise Real estate investing without the hassle learn more Invest in stock Ally Invest: $0 stock and ETF trades learn more Investing $20k is serious business, but no fears, no matter the size of the investment, even if it’s a million dollars, I have great ideas and methods for you to try to maximize your investment to its fullest potential. Best Ways To Invest $20k in 2022 These are the best ways to invest $20K wisely in 2022. 1. High-Yield Savings Accounts Ah, the beauty of simplicity! High-yield savings accounts allow you to earn a low rate of return (when compared to stocks and bond investing, for example) while ensuring that unless armageddon comes, your money will be safe. Most people use this method when they are investing $10K into an emergency fund or if they need to have immediate or short-term access to funds. Why are they called “high-yield” when you earn a low rate of return? Well, they earn more interest than most savings accounts on the market. If you feel this is the right type of account for your 20 grand, check out some of my favorite high-yield savings accounts. These types of accounts are great for saving emergency fund money – or any money you don’t want to disappear overnight. These accounts are also great to use after the loss of a loved one when you’re emotional and are more prone to make poor investing decisions. Best Savings Account Rates 2. Fundrise Fundrise is one of the best investment sites out there. Fundrise specializes in a special niche: real estate crowdfunding. If you’re looking for a way to invest in properties without having to do the day-to-day duties of a landlord, Fundrise can be an excellent way to get your foot in the door. One of the advantages of investing with Fundrise is you can start with as little as $500. Fundrise uses all of the smaller contributions to invest in larger loans. Fundrise is basically a REIT, which is a company that owns income-producing real estate. According to Fundrise’s client returns page, they had a return of 22.99% back in 2021, for all investors as a whole. When you’re looking at fees, Fundrise has a 1.0% annual fee. This includes all of the advisor and asset management fees. While 1.0% might sound like a lot compared to some other investment options, Fundrise has lower fees than other REITs. GoodFinancialCents rating Open Account BBB Rating A+ Types of Investments Diversified Real Estate Account Minimum $500 There are several benefits of choosing Fundrise. If their returns stay on course, you’ll get drastically better returns than you would with a traditional REIT or with other P2P sites. On the other hand, these investments are going to be a little riskier than other options. Getting started and investing with Fundrise is easy. You can create an account and start investing in no time. Even if you don’t have any experience with investing in real estate, Fundrise makes it incredibly easy. In fact, they now have Fundrise 2.0, which will handle all of the investing for you. Fundrise 2.0 will select the eFunds and eREITS and diversify your investments based on your goals. 3. Invest on Your Own There are a number of ways you can invest yourself into a long-term portfolio. I’d only encourage you to do so, however, if you know what you’re doing. Even when you’re investing using automated, passive techniques, you might find yourself lacking the degree of financial planning necessary to reach your goals. You’ve been warned. One way to invest on your own is to use Betterment. Betterment is a pretty nifty way to invest online in a mixture of stocks and bonds based on the degree of risk you can stomach. If you’re the kind of person who doesn’t mind risk, you’ll find that Betterment will recommend more stocks than bonds – and rightly so. You will pay a low assets under management fee; however, Betterment automates investing and will re-balance your portfolio based on programmed protocols constructed on expert advice. If you want your $20,000 to be automatically invested without much input from you, it’s worth it. GoodFinancialCents rating Open Account Trade Commission $0 Account Minimum / Setup Fees $0 Promotion Up to $300 Ally Invest is another great option if you want to fine-tune your investing. It’ll only take 10 minutes of your time and you’ll be able to select the exact investments you want to add to your portfolio – and in what proportions. Ally Invest offers some pretty cheap trades but you’ll need to do your own investment research to discover the best strategy for you. Read our in-depth Ally review. If you’re interested in reading more about the different brokerage platforms, consider our individual reviews for the following platforms: Betterment M1 Finance TD Ameritrade E*Trade 4. Go with a CD (Certificate of Deposit) There is no safer investment you can make than getting a certificate of deposit. With a CD, you put your money away for a set term, like a year, two, or even five. Your money accrues interest during that term, so it’s better than placing it in a traditional savings account. The catch? If you take out your money before its maturity date, you’ll be penalized. If you have patience and time to spare, though, a CD could be worth your while, especially considering that interest rates on CDs are climbing. While high-yield savings accounts are also a viable option for the risk-averse investor, the guarantee is slightly

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[ad_1] Fed's George sees policy interest rate near 2% by August [ad_2] Source link

[ad_1] Domestic equity markets pared their initial gains on Monday to end the session in the red, as a heavy sell-off in metal stocks dampened investor sentiment. After rallying as much as 605 points in intra-day trade, the Sensex ended lower by 37.78 points at 54,288.61 on Monday and the broader Nifty-50 settled at 16,214.70, down 51.45 points or 0.3%. Among the Sensex stocks, Tata Steel was a top laggard and contributed the most to the fall as it declined 12.53% on Monday, its worst single-day fall since August 2015. With Monday’s fall, domestic markets have fallen about 5% so far in May, posting losses in 11 out of 15 sessions of the month. The market’s fear gauge — India VIX spiked to 23.39 on Monday, a spike of more than 20% from 19.42 during April end. In line with the headline indices, the broader markets, too, ended in the red on Monday. The BSE mid-cap ended lower by 0.3%, while the small-cap index declined 0.6%. Overall, out of the 3,577 stocks traded on the BSE, 2,048 stocks declined on Monday. However, auto makers — M&M and Maruti Suzuki — surged over 4% on Monday, aided by the Centre’s decision to slash excise duty on petrol and diesel prices. Moreover, reduction in steel prices is being seen a big positive for consuming sectors like infrastructure and automobiles. Shrikant Chouhan, head of equity research (retail), Kotak Securities, “After a firm start, markets failed to hold on to their early upsurge and simply lost track to end marginally lower. Metal stocks bore the brunt while, realty, and oil & gas stocks also came under selling pressure, thus dragging key indices lower.” He further added that if the Nifty index manages to end above 16,300, a fresh uptrend up to 16,475 levels can be seen. Foreign portfolio investors (FPIs) turned net sellers again after Friday’s purchase. On Monday, overseas investors offloaded Indian equities worth $251.7 million, taking this month sales to $4.2 billion. In contrast, local investors, including mutual funds bought shares worth $186.5 million, provisional data available on exchanges showed. Barring Nifty IT, Auto and Consumer durables, all major sectors ended in the red on Monday — with Nifty Metal being the worst performer, down 8.14% — also its worst day since March 2020. Brokerages are of a view that the government’s decision is likely to impact the profitability of the sector significantly. Edelweiss Securities, in a note on Monday, said: “The GoI’s recent notification, levying duties on carbon/stainless steel exports, is likely to erode the profitability of the sector significantly. In larger canvas, the move has throttled the recent rise of Indian steel industry in the global arena. While we expect some quantum of exports to sustain as major players would seek to maintain their market share, their cash generation capability is likely to be undermined, resulting in lower RoE.” [ad_2] Source link

[ad_1] Potential homebuyers in today’s market are facing a number of challenges, including increasing mortgage rates and a sizeable supply and demand imbalance that is pushing home-price appreciation to very high levels throughout the country. MBA’s Purchase Application Payment Index (PAPI) has increased by 32% thus far this year, indicating that payments have risen much faster than personal income. Primary mortgage market rates are a function of several factors. First, mortgage rates are influenced by benchmark rates, including longer-term Treasuries. These rates are impacted by the strength of the economy, the level of inflation, and the expected direction of monetary policy, among other factors.   Secondary market rates, yields on mortgage-backed securities, are determined by factors that influence the supply and demand of these securities. These include expected prepayment rates, expectations of net supply to the market, and drivers of net demand from different investors including banks, Fannie Mae and Freddie Mac (the GSEs), asset managers, global investors, and in recent times, the Federal Reserve. The spread between primary and secondary rates is impacted by yet another set of drivers, including the level of available capacity in the industry — which can vary significantly over the cycle; servicing values, which are impacted by market demand for MSRs, including any changes to servicing costs; and credit pricing, which includes guarantee fees, loan-level price adjustment (LLPAs), and mortgage insurance premiums (MIPs). The primary mortgage market is intensely competitive, as I highlighted in a column earlier this year. Lenders are essentially price-takers in this market. If they raise their offered rates much above the market, they will lose the business. If they lower them much below market rates, they won’t be able to cover their costs in the long run.    In this column, I will walk through how FHFA, Fannie Mae and Freddie Mac determine their pricing, and why recent pricing changes to high-balance loans and second homes deserve a review for reconsideration, particularly if the Federal Housing Finance Agency (FHFA) wants the GSEs to use these products to generate sufficient funds to further subsidize loans to “core mission” borrowers. The secondary market entities face a different challenge. Fannie Mae, Freddie Mac, FHA, the U.S. Department of Veterans Affairs (VA), and the U.S. Department of Agriculture (USDA) have substantial market and pricing power. When Fannie and Freddie — through their regulator, FHFA, — decide where to set prices, or when FHA sets the MIP, they are not facing a situation of perfect competition, and hence have the ability to set prices at levels that might be different than where competitive markets would go. However, there are certainly limits to the pricing power of these agencies. While private markets, either portfolio or private-label security (PLS) executions, may not readily be able to compete for agency business, if rates are pushed too high, these alternative executions may offer a better deal for lenders and their customers, particularly for low-risk loans. On the other hand, for some parts of the business that may be higher risk, if agency pricing is too high, these borrowers may not have another place to turn. I began my career in the mortgage industry at Fannie Mae, helping to develop some of the analytical models that provided inputs into Fannie’s guarantee pricing model. While I have not been at a GSE for some time, by following FHFA’s guarantee fee report and other public information, my understanding is that the conceptual basis for credit pricing has not changed. On a fundamental basis, the credit price for a loan, the base guarantee fee and the LLPAs, should cover both the expected losses from the loan and GSE administrative costs. The GSEs earn float income for the period of time they hold principal and interest payments, which provide a small offset to these costs. However, the largest component of credit pricing is a function of the capital that each GSE needs to hold against a stress level of credit losses associated with the loan (e.g., the level of losses for that type of loan experienced during the Great Financial Crisis (GFC) as a result of large declines in home prices and a deep recession). To put numbers on it, while a certain loan might have an expected loss (in normal economic conditions) of 40 basis points (1% probability of default, 40% loss given default), in a stressful environment, that same type of loan might have a loss of 200 basis points (4% probability of default, 50% loss given default). Like an insurance company, a GSE needs to be sure it has sufficient resources to weather an appropriately severe stress event. Setting aside an appropriate amount of capital, and charging enough to earn a market rate of return on that capital, should do that. You might recall the recent debates over FHFA’s revisions to the GSE capital requirements. Market participants know that setting required capital for the GSEs too high would artificially inflate credit pricing and could reduce credit availability in the market. Setting it too low puts the GSEs at risk of another failure in the event of a severe recession or housing market crash. Beyond the top-line capital numbers, the precise calibration of required capital for different types of loans can have momentous impacts on how these products and loan-level attributes fare in the marketplace. Exhibit 1 shows the grid of capital requirements for loans with different loan-to-value (LTV) ratios and credit scores from the FHFA capital rule. Exhibit 2 shows the “multipliers” used in the rule: for a loan with any given LTV ratio and credit score, loans with these attributes are projected to have a multiple of these loss rates in stressful conditions. (As a quick example of how to read this: the base risk weight for a 720-740 credit score, 80-85% LTV ratio loan is 50%. That implies 4% capital given the 8% capital requirement. Now go to Exhibit 2 for the multipliers: A one-unit purchase loan (1.0 multiplier) for an owner-occupied home (1.0 multiplier) would require 4%

[ad_1] Do other people’s financial success stories ever make you feel a little… inept? You’ve heard about them: People like the 28-year-old who made so many wise investments she retired last year. Or that school teacher turned stock trader who now teaches school only because he loves his students, not because he needs the salary. We could’ve done that, right? If it can happen for them, why not us? A wise investor simply looks for ways to turn his current and anticipated resources into a more stable future. A wise investor sees money the way a good gardener sees vegetable seeds: as a tool that — in time and with some tender loving care, can build a more vibrant and secure future for you and your family. Why You Need To Invest This will seem like a no-brainer to a lot of people, but it’s still a good reminder for anyone considering an investment: invested money should be growing money. It’s a simple formula: money + time = more money, period. Our money can grow even without us taking an active approach. Owning a home, for example, can meet the definition of an investment. Homeowners expect the money they spend on their houses to grow over time as real estate values increase. (We’ll get more into this below.) A savings account is another example of an investment because the bank pays you interest on your saved balance, and while we’re at it, high-yield online savings accounts have the best rates. Moving Beyond Savings to Unlock Higher Earnings Even the best savings rates are not enticing enough for some investors. And for good reason: Not only could you earn more money in a more complex investment, but a savings account may also seem a little boring. It’s a good foundation, sure, but can savings alone pave the way to a smoother financial future? It’s possible, given enough time and enough deposits. But let’s think about that question. Say you have $10,000 and you deposit it in an online bank paying 1.5 percent interest. If you did nothing for 10 years — no deposits or withdrawals — your $10,000 would become $11,617.25. Not bad, right? A free $1,617.25 just for letting the money sit there, untouched, for a decade? Yes, you could do worse, but you could also do better. Just think what would happen if you earned 5 percent interest for 10 years on $10,000? (Your $10,000 would become $16,470.09) In 20 years, that ten grand would be $27,126. Banks don’t tend to pay rates that attractive in savings accounts. To unlock more investing power, you’ll need to learn about some more active strategies. How To Start Investing: Top 7 Things You Need To Know Don’t get me wrong. There’s always room for a solid savings account. But when you’re thinking about the longer-term — your retirement, your kids’ college, your beach house — more active investments may be in order. “More active” does not have to mean “risky.” Before handing over any money, find out for sure what you’re getting into. Meet with a financial advisor if you’re not sure how an investment works (or read our Investing for Beginners post if you are really starting from scratch.) Below you will find helpful information on various investing avenues. However, if you really want to dive into investing a large sum of money, I suggest using a tool such as SmartAsset, which helps connect you with a Financial Advisor. Before we dive into the details of getting started with investing, here are 7 things you need to know. 1. Start Now and Start Small The first thing that you need to know when it comes to investing is that you want to start now, and you also want to start small. The reason that you want to start now is just experience. If you don’t know anything about investing, one of the easiest ways that you can learn is to just do it. There are many different apps that you can get started with, with no money down. Here are a few of my favorites: Wealthfront Betterment Robinhood 2. Understand The Importance Of Compounding Interest Compounding interest is just the idea of your money growing over a period of time. The more time you have on your side, the longer it has to grow, and the larger it can become. But this is by far the biggest obstacle for most new investors, after they start investing, they simply stop adding to it. 3. Realize That Investing Is Not Gambling Unless… The third thing that you need to know about investing—investing is not gambling. Investing is not gambling unless you are trying to make a quick return on an investment that you just don’t understand. The two biggest culprits I see with this are penny stocks and crypto. 4. Acknowledge That Inflation is Real The fourth thing that you need to know about investing is that inflation is real. When most people think about inflation, it makes them imagine old people talking about gasoline and the price of milk. But really what inflation is, is purchasing power. What your dollar is worth today, is it going to be the same a year from now, five years from now, 20 years from now? And let me tell you that inflation is real. Purchasing power is real. 5. Investing is how the rich get richer The fifth thing that you need to know why you are investing is because this is how the rich get richer. Let’s face it, if you want to build wealth, if you want to hack your wealth, if you want any hope of retiring early or just achieving financial independence, you have to start investing it. 6. Losing Money Is Unavoidable I won’t say it’s the most important thing, but this is the one that definitely derails a lot of people, but when it comes to investing, it is guaranteed that you are going to lose money. It

[ad_1] The post How to Make Money with No Skills appeared first on Millennial Money. Traditionally, unskilled labor is work that requires little or no formal education or training to complete. While this was limiting in the past for job seekers, the advent of the internet and the gig economy changed the game. Now, it’s not only possible to find opportunities to earn extra income with unskilled labor—it’s easy. To be clear, when we talk about skills, we’re talking about diplomas, certifications, and experience. If you don’t have any of those things yet, it doesn’t mean you’re any less capable than someone who does. It just means you haven’t checked some boxes society often expects. And let’s be honest: Just because a job doesn’t require a degree doesn’t mean that it’s easy. If you want to make extra money with an “unskilled” side hustle or a full-time gig, you need to be ready to learn and put in the effort. No matter your skill set, there’s no reason you can’t find a high-demand lane to turn into real money, and I’m here to help you do it. With all this in mind, let’s take a look at 13 of the best ways to make money with no skills in 2022. Become a Virtual Assistant  Sign Up for Taskrabbit Use Paid Survey Sites Start a YouTube Channel Become a Freelance Writer Sell Stuff on eBay or Craigslist Start an Online Business Get Paid to Test Websites Teach English Earn Passive Income with Investments Sell Stuff on Etsy Start a Blog Learn and Master SEO 13 Ways to Make Money with No Skills 1. Become a Virtual Assistant  A virtual assistant is a self-employed professional who provides digital assistance to a company or client. Virtual assistants can work from home or shared office spaces. Common responsibilities include data entry, managing schedules, and handling phone and email correspondence. As a virtual assistant, you can choose your schedule, find your own clients, and make good money helping out with the day-to-day things that need to get done. It’s a great gig if you’re the type of person who is naturally organized and has a knack for making people’s lives easier. To find virtual assistant opportunities, check out general freelance marketplaces like Fiverr and Upwork or sign up for more specific platforms like VANetworking.com. Fiverr Fiverr is one of the top platforms for finding freelance gigs for around the world. Sign up now for free! Sign up with Fiverr 2. Sign Up for Taskrabbit If you have a tough time sitting in one place during the workday, you can earn money moving around and getting your hands dirty as a Taskrabbit Tasker. Once you sign up, you can choose the tasks you want to complete and folks in need can book you to give them a hand. When you finish a task, invoice your customer for your rate plus any expenses, and payments come through Taskrabbit’s secure platform. Play your cards right, and you’ll probably even earn some tips, too. Taskers earn extra cash across more than 50 different tasking categories to choose from. If you’re a beginner, you can take on simple side gigs like grocery shopping and lawn mowing, and you can work your way up to more involved opportunities. Taskrabbit is an awesome option for a part-time supplement to your 9 to 5. And the more you build up the rating on your profile, the more likely you’ll be to get enough jobs to start covering your bills. TaskRabbit $25 to register in some cities Find local jobs that fit your skills and schedule. With TaskRabbit, you have the freedom and support to be your own boss. Get Started 3. Use Paid Survey Sites Arguably the easiest way to earn money online is to take online surveys. Anyone can do it, and you can easily earn extra money in your spare time—from the comfort of your own couch to boot. That said, this gig also comes with some of the lowest earning potential. Surveys shouldn’t be viewed as a path to a full-time job. At best, they might be able to help you cover a bill or two each month. But that doesn’t mean that they aren’t worth your time. With sites like Survey Junkie, you can find plenty of paid surveys to take while you’re watching TV or waiting in line. Other sites like Swagbucks offer surveys plus cash back for online shoppers and issue rewards through gift cards or PayPal cash. Most survey sites also feature referral bonuses, so you can earn extra money just for bringing your friends along, too. Survey Junkie FREE Survey Junkie is the most reputable online survey company and an easy way to make some extra money in your free time. Get Started 4. Start a YouTube Channel If you want to monetize your creativity, one of the best ways to get yourself out there is to start your own YouTube channel. Whether you want to make comedy videos, workout tutorials, or walkthroughs for video games, YouTube is the place to do it. Of course, YouTube isn’t the quickest way to start earning real money. To make your channel attractive to potential ad partners, you need to build up your subscribers to prove that you’re reaching an engaged audience. This is where your own unique skill set comes into play. There are millions of channels to compete with, and you need to find a way to command attention.  Here are a few quick tips to keep in mind as you figure out how to do that: Stick to what you know Stay consistent  Find your niche Try to improve your content with every upload Understand your target market Once you build up a following, you can start making money through your channel via ads and sponsorships. Read More: How Much Do YouTubers Make? Get Paid to Watch Videos How to Make Money on YouTube Without Making Videos 13 Best Side Hustles for Couples 5.

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