Oh my gosh, is that passive income I would want passive income sign me up. I am a little bit annoyed right now
So I made a video on how to make some extra cash on the side
Through different side hustles when I made that video
It was very important for me to make sure that these suggestions that I gave you were actually 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 kind of 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's just wrong making money on the side is becoming more and more common nowadays whether it's because you're trying to achieve financial independence
Sooner whether it's because you're trying to pay off some debt faster or whether it's because you're trying to start a side business
And the pay is pretty low to start out
But when is making this extra money on the side not even worth your time if you're making what comes out to be?
Two to five dollars 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's great that people are doing things to make money on the side but on the other hand
It's just not smart to even mess with some of this work that these websites are telling you to do in this video
I'm gonna lay out some ways that people suggest that you make money that in my opinion aren't 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
If you can think of any other ways that I don't mention then let me know down in the comments below
Let's get a big list going here. Hey, I'm Jarrod with an A and on this channel
we like to talk about all things personal finance and
Investing all of us have had a friend or an uncle or a cousin that have tried to pawn this kind of scheme off on
Us it is
Multi-level marketing 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 is when you recruit other people just like you to become a seller
Just like you and when you're recruit makes a sale you get a kickback and when you recruit
Kinds other people into becoming sellers you make money off of their cells as well. You instantly think
Passive income sign me up. They're all over the place out there, but think of companies like Amway
Melaleuca and even everyone's favorite Tupperware age
I come over to your house and invite a bunch of your friends so we can buy a bunch of wait for it Tupperware
No one wants to buy your stupid Tupperware
They just do because you hold this big event and people purchased because they feel bad for you
You can buy it cheaper and get it a lot faster on
Amazon 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 kind of ruin your personal reputation in the process
Once you've tried to sell your clothes 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
gamy products that you're 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 percent I'm going to tell your future right now
um
You're gonna be a part of that 99 percent
Avoid MLM work like it is the plague as much as much as you want to help your friend out by signing up under them
Don't make the same mistake as they did. You really need to evaluate. What?
Your time is actually work
If you're someone who makes will say 50 dollars 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 fifty dollars 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 gonna be different for everyone
So there is no wrong answer but you've got to be clear on what your range is
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're telling me then I can make money by sitting on the couch and tapping on my phone screen
Yippee, let's do some quick call outs survey. Junkie
Swagbucks index dollars earning station and all those stupid 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 three hours and
Holy smokes. I felt like I was brain dead at the end of those three hours
And what did I average wait for it three dollars an hour?
Not enough to take a woman out on a date unless it was from the McDonald's dollar menu
But that's not how you get a second date
These surveys love to lure you in by offering you a ten dollar bonus
But don't let that fool you it is not even worth chasing at ten dollars because you usually have to put in hours and hours
Of work before actually earning that ten dollars
You should decide how bad you need this extra money and what you'll use it for back when I was in the process of paying
Off my day. I was willing to work in a restaurant every single weekend to pay extra towards my
$82,000 in debt there were days. I didn't make that much money, but overall I averaged some really good money
That made those slow days worth it
I needed the money because I wanted to get everything paid off in four years fast forward to today and I'm in a really good
Spot financially, I technically don't 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 spent building businesses on the side where the return is much higher. You've got to evaluate for yourself
Where you're at financially what you want the money for and how badly you need that money
Don't forget to Hulk smash that thumbs up button. Another horrible way to make money is by getting paid to watch online videos
This is even less than this surveys
But they claim it is so much easier since all you have to do is something you were already gonna be doing
Anyways, once again, they lure you in it by offering $10 by signing out
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 swag bucks aka trash bucks
You have to spend it twenty-five dollars 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 ten dollars. So I'm spending 25 to get $10 back
So I'm essentially spending
$15 are we the freaking matrix here?
There's way too many strings attached with 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 don't want to watch
Anyways, just because it's easy money doesn't 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 playlist that I created
The link is in the description or on the head for this one
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 to was of course
Donating plasma or some other bodily liquid. Ooh, that's gross. I apologize
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 thirty or forty dollars per session and you could donate
Twice in a seven-day period that's two hundred and forty dollars per month and it took two hours
For the full donation process that comes out to about fifteen dollars per hour
Okay, 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's not like your body is in tip-top shape
You're super tired and lethargic for a couple hours afterwards 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 wasn't very smart
then of course that night he came to our house for a
Party had one beer and was acting like he had drunk did drunk
He had drank a case of beer all because he donated plasma earlier in the day unless you're in college and hard up for cash
Don't even waste your time donating plasma for extra money this one website
Hidden it all time low
When I saw that they suggested this way to make extra money to make some extra money on the side
They said that you should gamble or play 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 of course 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 and even after doing that
Nothing is guaranteed
All it takes is one or two bad days in a row and you'll be left with no more money to gamble with
Therefore you're 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
Are 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
They've let me know down in the comments below check out the links down in the description for more
Playlists on personal finance and investing, please Hulk smash that thumbs up button. I'll see you in the next one friends a Dios