Learn about credit card churning
This is where you open (and later close) credit card accounts to take advantage of lucrative sign-up offers. It can be high risk but offers high return. Only attempt this if you are highly organised – you’ll need to keep track of cards that you’ve opened and closed, along with the details of each – and are disciplined enough to manage your spending. “If you have expenses you need to incur and can bunch them appropriately, you might be able to qualify for the minimum spend requirements and not pay for additional expenses you don’t need,” says Adams.
Invest in yourself
“I can say without hesitation: For 2020 and beyond, the best investment is always you,” says Joseph Deitch, author of Elevate: An Essential Guide to Life. “Whether that means going back for a degree, learning a new skill, or working on an area of weakness in your personal or professional repertoire, prioritise spending time and money on improving yourself. It’s a guaranteed return on investment, no matter what the market is doing.”
Sell T-shirts online
Selling T-shirts online using Print on Demand technology is a great business anyone can start without any capital or even the need for a website, says Stacy Caprio of Deals Scoop. “There is no start-up cost to sell since all you have to do is set up an account with a Print on Demand retailer, upload designs you create, and then get royalty payouts each time they sell and print one of your shirts,” she explains.