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Become a peer-to-peer lender
It might take a little bit of work but avid peer-to-peer (P2P) investors seem quite satisfied with the process, so something’s gotta give. Here’s a brief description of the whole thing:
P2P sites — Prosper and Lending Club are two — accept applications from borrowers for loans. You can review these applications and decide if you want to invest a part of your money in loans. When the loan is paid back, you also receive an interest-free payment.
To get started, you might need a minimum of $1,000. It’s important to diversify your portfolio; particularly, funding more of the better credit risks rather than running the risks with investments supported mostly by the enthusiasm of the applicants. Overall, P2P investments “can provide solid returns that are really hard to beat,” according to Clark.com, financial guru Clark Howard’s site. As with any loan, however, you may win some and lose some.
Seems too complicated? Then try this simpler form of P2P: Worthy Bonds sells three-year bonds for $10 each. The money is loaned to small businesses, with lenders who have purchased bonds getting 5 percent interest on their investment. There’s also an app that you can use to make your regular bond purchases or let the app “round up” your credit card purchases and use the spare change to purchase additional Worthy Bonds.
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Sell your photos
Anyone can take photos now due to smartphones. The next time you see an adorable animal in the street or a stunning sunset, share your picture with other people. Companies like Twenty20 and Foap can help you sell them for you.
If you have a good camera, a tripod and other equipment to help you take even better photos, you will surely be able to sell your pictures for more. Stock photo companies like Shutterstock and iStockPhoto host a wide variety of picture subjects. Potential photo purchasers “are looking to say something specific with their photo and to convey their message,” says 1099Mom, a blog providing income tips to work-at-home moms.
“So keep it simple, yet striking,” the site advises: Your shots should be framed to convey meaning and a concept rather than artistic expression.
