Friday, 10 July 2020

The Worst Side Hustles To Avoid

I am a little bit annoyed right now. So I write an article on how to make some extra cash on the side Through different side hustles, when I write that article It was very important for me to make sure that these suggestions that I gave you were worth your time. But as I was doing some research I stumbled upon some of these websites that were suggesting that you do certain jobs to make some extra cash. When I looked at these jobs, I scratched my head and I was like, why would you ever suggest someone do that job? I know exactly what these websites are doing and I hate it. They are pushing people towards this type of work so that they can benefit from Kickbacks once people click on those links and sign up for those jobs. In my opinion, It is just wrong. Making money on the side is becoming more and more common nowadays, whether it is because you are trying to achieve financial independence Sooner, whether it's because you are trying to pay off some debt faster, or whether it is because you are trying to start a side business And the pay is low to start out.

But when is making this extra money on the side not even worth your time, if you are making what comes out to be? $2 to $5 an hour, then was that time well-spent? In my opinion, I do not think so. I hate wasting time more than the next person but I especially hate wasting time when the numbers turn out to not be in my favor. To be honest with you, I struggle with this a lot. I really do, because, on one hand, I think it is great that people are doing things to make money on the side, but on the other hand, It is not smart to even mess with some of this work that these websites are telling you to do. In this article, I am going to lay out some ways that people suggest that you make money that in my opinion are not even worth your time. I would even call these borderline scams. Let's be clear that, there are times when it makes sense to work for less money, or for free at first. But only when the payoff is much higher or it increases your odds at a bigger payout later down the line.

1. Multi-Level Marketing

All of us have had a friend or an uncle or a cousin that has tried to pawn this kind of scheme off on Us. It is Multi-level marketing, (MLM) and they are probably one of the biggest wastes of time in the world. You essentially make money by selling an overpriced generic product. Dressed up as a private label to all of the people in your close circle, and did I mention, that you don't make very much money at all. Where they say the real money is when you recruit other people just like you to become a seller just like you. And when your recruit makes a sale, you get a kickback, and when you recruit other people into becoming sellers, you make money off of their sales as well. 

They are all over the place out there but think of companies like Amway, Melaleuca, and even everyone's favorite Tupperware. Multi-level marketing is like the wet dream of someone trying to earn passive income until you exhaust it trying to recruit your close network of friends and family to become sellers. Not only are they a waste of time? But you ruin your personal reputation in the process. Once you have tried to sell your close Network and piss all of them off. Next, you have to branch out to people that you don't even know, they get them to buy this scheme product that you are selling. In the end, most people give up because it is not worth their time any longer. You can absolutely make money and some people make some big bucks but most people don't ever make the money that they were promised initially. A study by AARP found that 73% of people either don't make money or even lose money and other studies found that the number could be as high as 99%

I am going to tell you about your future right now. You are going to be a part of that 99%. Avoid MLM work like it is the plague, as much as you want to help your friend out by signing up under them. Don't make the same mistake as they did. 

Know What Your Time Is Worth 

You really need to evaluate what Your time actually worth?. If you are someone who makes say $50 an hour at your full-time job. Then could you make that much by working more hours at that job? If not, and you want to work on the side, then maybe you won't be making that same $50 an hour. But is there a lesser amount you be Okay with accepting?. Is it $20 an hour? $30 an hour, would you be okay with that? I think this amount is going to be different for everyone. So there is no wrong answer, but you have to be clear on what your range is.

2. Scammy Surveys

Surveys are another waste of your time. look, I get that if they sound like the best way to make money ever because they appeal to the lazy part of all of our Brains, you are telling me then I can make money by sitting on the couch and tapping on my phone screen. Let's do some quick call-outs. Survey Junkie, Swagbucks, inboxdollars, earningstation, and all those websites are the biggest waste of your time. I wanted to see how big of a waste of time, so I tried this for one night for about 3-hours and I felt like I was brain dead at the end of those 3-hours. I earn $3 an hour? Not enough to take a woman out on a date. These surveys love to lure you in by offering you a $10 bonus. But do not let that fool you it is not even worth chasing at $10 because you usually have to put in hours and hours Of work before earning that $10

How Bad Do You Need The Money?

You should decide how bad you need this extra money and what you will use it for. Back when I was in the process of paying Off my debt. I was willing to work in a restaurant every single weekend to pay extra towards my $82,000 in debt. There were days I did not make that much money, but overall, I averaged some good money that made those slow days worth it. I needed the money because I wanted to get everything paid off in 4-years. Fast forward to today, I am in a good spot financially, I technically do not need extra money badly enough to go work on a restaurant on the weekends again. Am I trying to make more money in other ways? Absolutely, but even though I could go do restaurant work to make some extra money. My time is better spent building businesses on the side where the return is much higher. You have to evaluate for yourself, where you are at financially, what you want the money for, and how badly you need that money.

3. Getting Paid To Watch Videos

Another horrible way to make money is by getting paid to watch online videos. This is even less than these surveys. But they claim it is so much easier since all you have to do is something you were already going to be doing Anyways, once again, they lure you in it by offering $10 by signing up. But you don't actually make that $10 until you've watched so many total minutes. Which is usually like 24 hours, or in the case of Swagbucks aka trash bucks. You have to spend $25 at one of their eligible stores to receive that $10. Wait. What? I thought I was here to make money from watching some videos. Um, no, they want you to spend money to make that $10. So I am spending $25 to get $10 back. So I am essentially spending $15.

There are way too many strings attached to this one and there are a lot of better things that you could be doing with your life than watching videos to get paid pennies by the minute. Most importantly, watching things that you do not want to watch Anyways, just because it is easy money does not make it smart money. This is what I would actually consider dumb money. The time that you spend watching these videos is better served building a side hustle of your own or Working on one of the side hustles that I mentioned in the side hustle that I created.

4. Donating Plasma

Let's take our memories back to when we were in college if you were like me or any of my friends. Then you were trying to make some easy cash. One of the most popular ways was of course Donating plasma or some other bodily liquid. I swear there were at least a couple of these plasma donation centers in every college town and for good reason. Every broke college kid needs money for alcohol and partying, of course, the places around the university that I went to offered $30 or $40 per session and you could donate twice in a seven-day period, that's $240 per month and it took two hours For the full donation process. That comes out to about $15 per hour, that's not too bad for someone making money on the side. But we still need to account for the time that you lose from being worn out and tired after donating. Once you donate plasma It is not like your body is in tip-top shape. You are super tired and lethargic for a couple hours afterward.

One time in college one of my idiot friends Donated plasma, then went to the gym and an hour later. He passed out in the rec center. It was not very smart. Unless you are in college and hard up for cash. Do not even waste your time donating plasma for extra money.

5. Play Online Poker

Do not try to play poker online and make extra money. This is not smart. Listen, I used to do this back in college and I lost thousands and thousands of dollars, fun fact, in college, I would use some of my leftover student loan money to Gamble with and I lost all of that money over that five year period so yeah, don't do that. Can you really become a successful poker player? Yes. You absolutely can, but the professionals literally treat it like a job to increase their odds of making money. Gambling for them is not fun. It might be a little bit, but it is literally a job. They clock in with an app on their phone, take a certain amount of breaks every hour or two. And they also have a minimum amount of hands that they have to play every day or every hour to increase their odds of coming out ahead, even after doing that. Nothing is guaranteed. All it takes is one or two bad days in a row and you will be left with no more money to gamble with. Therefore you are out of a job.

I know a guy who lives in Vegas who did this exact thing. He did everything by the books when it came to treating it like a profession. Do you think he's still a professional gambler? Obviously no, the odds of these professionals becoming successful or low, then what in the heck makes you think that you can do it passively and make a lot of money in the long run, you just can't.

If you have any side hustles that you think are an absolute waste of time, Then let me know down in the comments 

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