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20 Ways to Earn Money Online from Home without Investment

Shitanshu Kapadia
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0
20 Ways to Earn Money Online from Home without Investment

It took me awhile to earn money online. I tried multiple ways to make money online. I was running from pillar to post in order to find best legitimate ways to earn money online.

It was a struggle.

Are you in the same boat like me? Do you want to earn money online? Did you ever tried to make money online but did not got success?  Don’t worry. I have something interesting for you. In this post, I will share 20 Ways to Earn Money Online from Home without Investment.

As an experiential authority, I can say that you can also earn thousands of dollar online by just doing some legitimate activities online. You just need an Internet connection, Laptop and few legitimate websites that can offer you avenues of earning money online.

microjobs

20 Ways to Earn Money Online

  1. Affiliate Marketing

If you are hardworking and serious about making big money online, affiliate marketing is for you. In affiliate marketing, you are helping customers to select a right product. Follow the steps given below to earn money online from Affiliate Marketing.

  • Sign up as a partner on the merchant sites like Flipkart, Amazon, eBay, Clickbank, CJ etc.
  • Get affiliate link for various products.
  • Start promoting products via affiliate links on your website or via E-mail marketing.
  • You will be paid 4% to 20% commission if someone purchases product by using link shared by you.

You can earn Rs.10000 to 1 Lakh by Affiliate Marketing.

  1. Google Adsense

Google Adsense is second proven way to earn money online. It is one of my favorite ways to earn money online. However, it is not easy to make money from this way. You need to invest a lot of time with a dedication to generate money from this idea.Follow the steps given below to earn money online from Google Adsense.

  • Make a website or blog with high-quality content.
  • Generate organic traffic on your website.
  • Once your website gets popular apply for Google Adsense account.
  • If you get an approval from Adsense, you can generate an advertisement code.
  • You need to place this code on your website to generate money.

You can generate $100 to $10000 from Google Adsense.

  1. Earn from PTC Sites

If you are running out of time and you want to generate small income say $100 per month you can start with PTC sites. PTC site means Pay to click site. These sites will pay you money for clicking and viewing an advertisement.

The pay-out for clicking advertisement is very low hence this idea is on the third position. There are many legitimate websites where you can register and start earning money without any investment. My favorite PTC site is Ysense.

  1. Earn from GPT Sites

GPT Sites is another interesting way to earn money online. I have generated a lot of money using GPT websites. GPT means Get Paid To. These type of sites provides various tasks such as survey completion, playing games, clicking ads, completing promotion offers etc.

My favourite GPT sites are Swagbucks, InboxDollars and CashCrate.

  1. Captcha Solver Websites

If you have extra time you can earn more money by solving Captcha on Captcha Solver websites. You just need to solve a captcha and you will be paid money for solving each captcha. You need to be fast in solving a Captcha to generate good income.

I have used CaptchaTypers and MegaTypers websites for earning money by solving captcha.

  1. Survey Sites

If you love to give an opinion about various products survey sites are for you. Survey Sites offers you a small survey which you can complete in 5 minutes to 30 minutes. Along with fixed questions you need to write your feedback and opinion in a survey. You will be paid $1 to $5 from a single survey.

I have used Swagbucks to earn money from the survey.

  1. Freelancer

Freelancer is a popular way to make money after PTC, GPT and affiliate marketing. As a freelancer, you need to complete, a fixed work assigned to you online. You can earn $500 to $1000 by becoming a freelancer. Freelancer task includes web designing, programming, video making, graphic design, data entry etc.

I have used Fiverr and Upworks and earned lot of money as a freelancer.

  1. Content Writer

The Content writer is next idea of earning money online. If you are good at writing you can start online writing business and earn a lot of money. This idea can help you to earn $500 per month. Elance, Freelancer, and Copyblogger are websites that can offer you online writing jobs. You can even tie up with bloggers who are looking for web content writing services.

  1. Blogging

Blogging is a popular way to earn money online. Blogging requires a lot of patience, knowledge and time. In blogging, you need to create a blog, publish articles on relevant topics and increase organic traffic. You will be paid for the advertisement placed on your blog. You can earn more than $1000 per month via this idea.

  1. Youtube Channel

Youtube also offers an opportunity to earn money online. The process is very simple.

  • Select a topic and create a Youtube channel.
  • Generate videos by using good quality camera or software. I use Videoscribe for making videos.
  • Upload Videos on a channel.
  • Apply for youtube channel partner program to make money from videos. 
  1. Web Design

Web Design is a most popular way to make money online. You need to have the technical knowledge and programming skill to become a web designer. If you don’t have an idea then you can take the training & then start this because this field has got a great potential. You can promote your business offline or even online by creating your own website.

  1. SEO

SEO stands for search engine optimization. It is a technical term used for improving search ranking for a website. It is a booming field. If you have the knowledge you can become SEO expert.

As an SEO expert, you can earn $1000 to $2500 per month based on your expertise. You need to bid project online or contact companies looking for SEO services for their website.

  1. Online E-commerce Site

Online E-Commerce site is another way to earn money online. However, it requires lot of investment to start your own e-commerce portal. I would recommend starting e-commerce store on a smaller scale with specific items or within a city. Once you are successful you can expand the scope by making an investment.

  1. Domain Trader

Domain Trading is the next way of earning money online. However, it demands some investment for buying domains. There are many sites, such as Gandi, that enable straightforward domain name registration. However, you have to be an expert before starting a domain trading business. You will need to develop skills to identify domain names with future demand. You have to purchase a domain name at a low price and sell it at a higher price. You can use Godaddy Auction tool for this.

  1. Domain Hosting

Domain and hosting service is an online business idea for people with great technical knowledge. This business can be done in two way. You can either setup your own server or start domain and hosting services or you take service from existing service provider as a business partner. It is proven way to earn money online. However, it will take time to generate money from this idea.

  1. Stock Market Trading

Stock Market Trading is a most promising way to make money online. However, you need to develop a skill for starting stock trading. You can refer to my earlier post which gives information about starting a career as a stock market trader.

  1. Earn Money from Smartphone

You can earn money from your smartphone. There are various apps available online that can help you to make money on the move. You need to complete few tasks and survey to make money from these apps. I have used InboxDollars to earn money online.

  1. Sell Photos Online

Good photos of nature, place, people, home, things are always in demand. These photos are largely used for making advertisements. If you are good at taking photographs you can sell them online and earn money. Follow the steps given below to sell photos online.

  • Register on the websites like Photobucket, iStockPhoto or Shutterstock.
  • Upload your unique photographs with a price tag.
  • When someone purchases your photo, you will get paid.
  1. Online Tutorial

If you are good at teaching you can start an online tutorial business. In this business, you need to create content for the specific course online and create a subscription model for usage. It could be module wise cost or even usage wise.

  1. Sell Old Stuff Online

The last way to earn money online is by selling old stuff. You might have a lot of unused stuff at your home. You can sell this online and earn good money.

You just need to identify old unused items and upload high-quality photographs on websites like OLX or Quikr. However, this way is not sustainable. As it is difficult to find out old items every month.

I hope above 20 Ways to Earn Money Online will help you in generating online Income.

LIC Bima Shree (Plan 848) – Key Features, Benefits & Review

Shitanshu Kapadia
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0
LIC Bima Shree (Plan 848) – Key Features, Benefits & Review

LIC Bima Shree

LIC Bima Shree Plan 848 is insurance cum money back policy launched by LIC in the year 2018. The tagline for this policy is “Live every moment tension free, buy LIC’s Bima Shree”. This plan is specially designed for High Net worth Investors (HNI) or High-End Customers.

Looking at first instance LIC Bima Shree seems to be a replica of LIC’s Jeevan Shiromani with few changes. Minimum sum assured amount in Bima Shree is changed to 10 Lakh, which was 1 Crore in Jeevan Shiromani. LIC Jeevan Shiromani was providing inbuilt critical illness cover, however new policy LIC Bima Shree is not providing this benefit.

LIC Bima Shree Policy (Plan 848) can be defined as non-linked, with profit, guaranteed additions, limited premium money back plan. Let’s take a quick look at Key features and benefit detail of LIC Bima Shree Plan.

LIC Bima Shree (Plan 848) – Key Features

  • Non-Linked, Money Back, Limited Payment, Guaranteed Addition Plan.
  • Guaranteed Addition for Full Premium paying term.
  • Critical Illness Benefit coverage for fifteen specified critical illnesses available as an optional rider.
  • The flexibility of policy term. Policy term can be opted from 14, 16, 18 and 20 years.
  • Loan facility after 2 years.
  • Money Back in 2 years gap.
  • Four Years premium holiday.
  • Loyalty Addition after 5 years
  • Exclusive Plan for Upper Middle Class
  • Survival benefits available for a plan can be deferred, as per the wish of the policy holder.
  • Settlement Option for Survival benefits and Claim for 5, 10 and 15 years.

Eligibility for LIC Bima Shree Plan 848

Eligibility conditions for LIC Bima Shree Plan are given in the following table.

Eligibility for LIC Bima Shree Plan 848
Minimum Sum Assured10 Lakh
Maximum Sum AssuredNo Limit
Policy Term14,16,18 and 20 Years
Premium Paying TermPolicy Term – 4 Years
Minimum Age at Entry8 Years
Maximum Age at Entry
55 Yrs for 14 Yrs Policy
51 Yrs for 16 Yrs Policy
48 Yrs for 18 Yrs Policy
45 Yrs for 20 Yrs Policy
Maximum Age at Maturity
69 Yrs for 14 Yrs Policy
67 Yrs for 16 Yrs Policy
66 Yrs for 18 Yrs Policy
65 Yrs for 20 Yrs Policy
Risk CommencementImmediate

LIC Bima Shree (Plan 848) – Benefits

Survival Benefits

If policyholder survives to the specific duration of the policy term, a fixed % of money is payable. The detail of survival benefit is given below –

  • For 14 Years Policy – 30% of Basic Sum Assured on 10th and 12th policy year.
  • For 16 Years Policy – 35% of Basic Sum Assured on 12th and 14th policy year.
  • For 18 Years Policy – 40% of Basic Sum Assured on 14th and 16th policy year.
  • For 20 Years Policy – 45% of Basic Sum Assured on 16th and 18th policy year.

Death Benefits

The risk commences under this plan is immediate from the date of issuance of the policy. The death benefit under the plan varies based on the period completed.

  1. Death occurs during the first 5 years of the plan – 125% of the Basic Sum Assured + Accrued guaranteed additions shall be paid.
  2. If the death occurs after completion of 5 years – 125 % of Basic Sum Assured + Accrued guaranteed additions + Loyalty additions shall become payable.

Maturity Benefits

On the survival till the maturity term. Following maturity benefit is payable.

  • For 14 Years Policy – 40% of Basic Sum Assured + Accrued guaranteed additions  + Loyalty additions
  • For 16 Years Policy – 30% of Basic Sum Assured + Accrued guaranteed additions + Loyalty additions
  • For 18 Years Policy – 20% of Basic Sum Assured + Accrued guaranteed additions  + Loyalty additions
  • For 20 Years Policy – 10% of Basic Sum Assured + Accrued guaranteed additions  + Loyalty additions

For more information refer to the following table –

bima shree

LIC Bima Shree Illustration

 In order to understand benefits of this plan let’s take one example. Suppose a person with age 25 plans to buy this policy with a policy term of 14 years and sum assured 10 Lakh. The premium paying term would be 10 years. An annual premium of the policy would be Rs. 108241.

Based on the assumption that projected return by this policy would be 4%, a policy is expected to give following benefits.

bima shree example

The above figures are sample illustration only and are subject to change depending upon loyalty addition declared.

LIC Bima Shree (Plan 848) – Review

Based on the limited information available on LIC Bima Shree Plan 848 I can make out following points-

  • LIC Bima Shree seems to be normal Money Back plan by LIC except few changes like money back in shorter duration 2 years and four year premium paying holiday.
  • A Guaranteed addition is payable under this plan. However, it will be up to premium paying term only. The value of guaranteed addition is not fixed.
  • The Plan is projected as high net worth plan and hence premium of this plan is very high.
  • The new change offered by LIC under this plan is loan facility. This plan offers loan facility after 2 years. Generally, all other policies are eligible for a loan after 3 years.
  • Critical illness benefits are available as optional benefits under this plan.
  • The plan is expected to return 4-6% return as illustrated in the example above.

In short LIC Bima Shree is an old product with a new cover. I suggest to purchase term plan with good coverage and invest remaining amount either in the mutual funds or PPF to earn better returns.

Lending Money to Friends or Relative – Points You Must Consider

Shitanshu Kapadia
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0
Lending Money to Friends or Relative – Points You Must Consider

lending money

“Lend money to friends or relative and invite worry in the return.” Lending money to friends and relative is common practice nowadays. From small amount to meet emergencies to large sum given to recover from business losses, everything is done without paperwork in an unsecured manner on the basis of trust.

Let me share one incident with you. Before few days I got a call from one of my family member. He was in trouble and was in need of money. He described his situation that he has taken money from a moneylender at 5% monthly interest and as he is unable to pay loan amount. Now, he wants interest free loan from me for the longer duration. Well, my immediate response to this proposal was NO. My relative gave counteroffer by saying we will make legal document clearly defining terms and condition of the loan. I am thinking about that proposal.

These types of incidents of giving a loan to friends and relative with or without legal paperwork on the basis of trust are increasing. Most of the time it is seen that these type of loans are the main reason for spoiling a relationship. Well, it’s up to you to extend help to friends or relative by giving a loan. In this post, let’s focus important points you must consider while making a legal agreement for lending money to friends and relatives.

Also Read – Things to do before giving loan to relative or friend

Points to check before lending money to friends or relatives

  1. Legal Document

Don’t lend money without a legal document. Legal document for this type of loans would be loan agreement or promissory note. It should be made on stamp paper and notarized by concern authority.

  1. Personal Information

The document should clearly capture identity proof such as PAN card, Aadhaar card of both lender and borrower.

  1. Repayment Schedule & Interest rates

Your document should clearly mention about repayment schedule monthly, yearly or lump sum. Along with periodicity or repayment, It should also mention interest rates applicable on loan amount.

  1. Dispute and Exclusion conditions

The legal document may or may not include a condition in case of dispute or default. One should also mention exclusion condition if any.

  1. Amendment

A loan agreement or promissory note can be modified/amended by mutual agreements between lender and borrower. You can make provision of amendment clause in the agreement.

  1. Witness

There is no legal requirement of a witness in the loan agreement or promissory note. However, as an additional safety get the document signed by a witness. The witness should not be related to any party.

  1. Payment via Cheque Only

Make sure to pay money via Cheque only and mention transaction amount and cheque number in the legal document.

  1. Interest on Tax Component

Interest-free loans are non-taxable for both lenders and borrowers. However, if a provision of interest is kept lender have to pay tax on interest earned.

  1. Loan without Interest

Loans without interest from friends and relative are considered as Gift. Gifts from family members are not taxable.

Additional Food for thought before lending money to friends and relatives

  • You should assess the capacity of the borrower to pay loans in the future.
  • You should remember that there are chances that you can lose relationship because of these types of loans.
  • If a relationship is important consider loan as a gift. Assess your capacity and lend the amount which you are capable to write off.
  • You can earn more money if you invest this money in other instruments as mutual funds/equity.

Also Read – How to Stop Living Paycheck to Paycheck?

Over to you –

As per me, lending money to relative or friend is not a good idea. You may end up losing a relationship, money or both. Still, if you have decided to give a loan to lend money to relative or friend please remember points which we have discussed above.

Have you lent money to relatives or friends? What was your experience? Would you do it again?

Fixed Deposit or Fixed Maturity Plan (FMP)

Shitanshu Kapadia
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2

Fixed Maturity Plan

We find many Fixed deposit lovers in India. Who are not ready to take any risk and happy with the fixed return. However, in a recent past, it is seen that return on fixed deposits are reducing and it is likely to reduce further. So, what fixed deposit lovers should do? Well, they can explore investment option called as Fixed Maturity Plan (FMP). A Fixed Maturity Plans (FMP) are like FDs only. It can generate fixed returns and has a lock-in period. One can also use Fixed Maturity Plans to save income tax.

What is Fixed Maturity Plan?

A Fixed Maturity Plan is “closed-ended” debt based mutual funds. Closed-ended means it comes with pre-defined lock-in period. This lock-in period varies from 1 month to 3 years.

Fixed Maturity Plan do not invest anything in equity. It invests mainly in debt related investment instruments like –

  • Bonds
  • Debentures
  • Government Securities
  • Certificate of Deposits
  • Commercial Papers

FMPs are suitable for investors who love FD or in the other words for the investors with low-risk appetite.

  • The basic difference is between bank FD and FMP is return from FD is assured. However, in Fixed Maturity Plans (FMPs) returns is not assured. However, FMP generally gives better return compared to Fixed Deposits.
  • Another difference is in FMP we have an option to check rating before investing. Credit agencies give rating to FMPs based on performance A, A+, AAA etc. In FD investment is done based on the trustworthiness of bank.
  • In FMP one can go through Investment objective and past performance.

Which is better FMP or FDs?

Return –

Let’s take an example of SBI Bank Fixed deposit Interest rate applicable as on today (i.e March 2018)

If you invest in SBI Fixed deposit with following lock-in periods, the interest rate offered by the bank are –

  • 1 Year – 6.40%
  • 3 Year – 6.50%

This return is pretax return. Tax is applicable on the interest amount based on your tax slab. Now let’s compare the historical return on Fixed Maturity Plans. Historically average return of AAA-rated FMP is in the range of 7.25-7.5%.

Taxability –

The interest amount earned from Fixed deposits is added to the income of investor and taxed as per tax slab. If you are in highest tax bracket it is recommended not to invest in the fixed deposit as post-tax return can’t even beat inflation rate.

In FMPs, there are two options –

  1. Dividend
  2. Growth

In dividend option the investor has to face dividend distribution tax, plus applicable tax rate as per slab.

In a growth option two types of taxes are applicable.

  • STCG – Applicable if you sell FMP before 3 years of holding time. The rate of STCG is as per ones tax slab.
  • LTCG – Applicable if you hold mutual fund for 3 years and above. LTCG is applicable 20% flat, one can take indexation benefit while calculating LTCG.

This means if you are in highest tax bracket it is recommended to invest in FMP compared to FDs.

Also Read – Company Fixed Deposit – 10 Most Important Things to Know before Buying

What are advantages of FMPs?

  • Low risk and No interest rate volatility.
  • Return is high compared to fixed deposit.
  • Tax benefit and indexation benefit.
  • Expenses are very limited as FMP invest in debt instruments.

What are Limitations of FMPs?

  • Return is not assured in FMP.
  • The exit from FMP is slightly difficult as trading volume of FMP is very low.

Points to consider before investing in Fixed Maturity Plan

  • Select FMP carefully. Please consider rating given by credit agencies while making a selection. Also check historical return and trustworthiness of fund house.
  • Exit from fund is slightly difficult. So, if you have surplus money you can select FMP with long term perspective.
  • FMPs are less risky. However, we cannot eliminate risk possibility of default.

I hope you have got answers to all your queries related to Fixed Deposit and FMP.

Do you prefer FMP for investment? Do share your views in the comment section.

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