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Earning MMethods

Earning Methods – Part 1 Traditional employment.Gig work.Selling products or services.Passive incomeSide Hustles.Traditional employmentFull time / 9-5: Full time employees work typically 9-5 in a workplace like an office and get paid monthly a fixed salary. They are provided with employee benefits like health insurance, ESOPs, certain eligible allowances, etc. These guys pay somewhere between 15-30% on income tax depending on their income.Part Time Method: People who work part time typically work for 3-5 hours during the same time of the day. Examples include guys in xerox shops where they are open from a particular time to a particular time. These people also get paid on an hourly basis depending upon the type of work. Housekeeping is a common example of a part time job where a person can finish his/her job in a few hours and be paid hourly wage.Freelancing: In freelancing, people work on either contract or per project basis usually from different locations. Usually it takes some time to get initial clients because you’re new to the game and you have no trust. So it may take some time, but once they build a reputation they get paid more money compared to part time employees and even full time employees because of the skills required to complete the job. The client once obtained can be on a retainer model for months which gives monthly cash flow from wherever you are that you can put into your other projects.Internships: Companies hire people after getting them trained through internships and many students have it in their curriculum to intern during their vocation at any company. Internships are great because first, you’re trying something. Next, you gain real world skills and experiences right at the workplace which makes you smart during interviews when answering questions. Internships are often not paid, but companies also offer paid programs as well. You can easily apply for internships for companies either on their website or through a job portal like indeed.com.

2. Gig work. Apps & platforms, completing small tasks, commision based earnings, airbnb, threads bonuses (not in india yet i guess).Pay per task: Delivery services, Uber, ride sharing services are perfect examples of these. Apps and platforms provide all the essentials you need to start this type of gig work.Completing small tasks: This is similar to the above one. One example that immediately comes to my mind is Swiggy genie 😛 where if you forgot something, you can get it directly at wherever you are without moving, which is great.Commission based earnings: This is similar to a full time, part time job but it’s also a gig type of work because the work timings are flexible but you are an employee who is outside trying to get sales or clients. An example is the UPI app platforms send their employees to convince shop owners to set up their QR code. For each successful onboarding, the employee receives commission in addition to their base pay. Another example is AirBnB, where you get a commision of the rental fees from tenants.Bonuses: I know what you are thinking, THREADS BONUS, right? Not your fault. Threads bonus is also a great example of the gig work where people reach certain milestones and get paid for each achievement.

Selling products or services. Small businesses.Small businesses are the ones that sell products and services at a small scale. For example, car washing, you can offer car washing services in your area. Tutoring, reselling items for profit, dropshipping, any services that you can provide to an individual basis mostly would come under this list. Small businesses should involve low upfront cost and light operations. You can also create courses on online platforms like skillshare, Udemy and earn passive income. Another small business is just selling B2B within the low upfront cost range. You can provide designing, marketing, social media management services online and these involve skills and less upfront cost.Passive income methodsWelcome to one of the most interesting earning methods on the planet: Passive income. Passive income essentially is income from anything where you are not actively involved in day to day operations. This method requires substantial initial setup in terms of labor and money to get to a point of having run by itself without much day to day involvement.Lets see what are the modern methods of passive income. Mostly all online business related methods except JOBS can be made passive. Investing in stocks, Making youtube content, affiliate marketing,digital products, dropshipping all these are once it’s set up and running and taken to a point it needs no further involvement and the algorithm takes care of it.There are also offline passive income methods like real estate where you get passive income through rental income. Though it requires maintenance, it’s mostly passive once it’s up.Renting out stuff is another typical example of passive income like renting out vehicles, places, tools, etc.Regarding pricing, you can check your competitors’ or area’s pricing and then fix it accordingly.

Side HustleSide hustle means you’re hustling on the side (which is after your regular income method) to generate extra income, more than income it can become a profitable timepass, you will learn many things. Classic and easy ways of side hustling are writing online, freelancing, selling stuff online, taking part time jobs in your area, or it could just be a passion project where you are not concerned about the money.There are many types of side hustles. If you want to get started right away, then you should avoid the ones that require others’ approval, like for example Google Adsense or Amazon Affiliate. You can join local delivery boy services where you can start making cash immediately. If you have a skill and like to wait, you can find freelance work from clients gradually, even in a monthly retainer model. The possibilities are limitless here. If you like to take full control of your side hustle, then more control means more patience and more work to be done and also requires some capital. But the rewards are very much worth it. Examples include creating a blog and writing for SEO, growing your social media following, etc. No Cost side hustles include working part time, providing services online and tutoring. More than money, like I said earlier side hustles are great for time pass and knowledge development, it’s cool, you know. You should give it a try.

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Money

10 Money Lessons That You Can’t Find Anywhere! (From Personal Experience)

Lesson 1

Never depend on anyone for money. Not even your parents. Actually they won’t give you after a certain point. So spoiler alert. And they will say that in an empathetic way, so you will be thrown out of the bus if you haven’t saved any cash for yourself.

Lesson 2

Save 50% whenever you get cash. There’s a lot to learn (meaning a lot of mistakes to be made) man. This will definitely SAVE YOUR A**. Just don’t listen to anyone. Just save as much as possible. Money always helps.

Lesson 3

Budget & Keep track of your daily expenses. Just a google docs will do perfectly fine. No need for fancy apps.

Lesson 4

This is not a money tip, but this will save you a lot of money, which is, the real fun is in knowing different stuff. So get yourself access to the internet through a normal standard phone, and start feeding your brain information so that you think and come up with new ideas. Don’t get caught up in the fancy land of buying expensive crap and two days later you’re again bored. Like, aren’t you bored of that crap?

Lesson 5

Measure, but dont micro measure. It’s ok if you missed some days of tracking your money. Who gives a sh**? Your money, your way. But don’t overdo it and lose the sense of how money is flowing. Be flexible at the same time be cautious.

Lesson 6

When you’re free, find and select a good bank to bank with. Know about their charges, facilities, competitive features, online banking, etc. I’ll tell you why this is important. Suppose you need a loan. The bank will say “You know what, my man, you need at least 6 months to a one year old customer to get the loan, man!” And you’re like, OMG.

Lesson 7

Learn about ASSETS. Offline assets and Online Assets. It’s a game changer. It’s hard to acquire initially, a lot of knowledge it takes, that demands time, but it’s worth it.

Lesson 8

Debt is not bad if it’s used smartly. Actually it’s a life saver. So just be careful with it. And use it when there’s no other way.

Lesson 9

Buy stuff that makes your life easier for a long period. For example, power banks, smartphones, blender, and so many. Avoid short term buys except you’re crazy about it.

Lesson 10

Feed information to your brain related to finance from finance experts all around the world online on platforms like YouTube, Books, etc. It’s invaluable. It is really!

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Personal LLoan – Part 2

Eligibility Criteria for Personal Loans ✅ 150 WORDSIncome RequirementsCredit Score ConsiderationsEmployment and Residency StatusDebt-to-Income Ratio (DTI)Income Requirements – It depends on lenders. While NBFCs may offer loans to people with low income like ₹25000 or ₹10000 Or ₹20000, other standard and popular lenders may have a starting limit of ₹40, 000 like in ICICI Bank. ICICI Bank. Credit Score ConsiderationsCredit score is one of the key factors in deciding the approval of a personal loan. Credit score usually ranges from 300-900 where 300 is the lowest and 900 is the highest. There are many companies that provide your credit score based on their analysis. Popular ones are CIBIL, Equifax, Experian. People with above 750 score usually get better interest rates and higher loan amounts while people with below 750 slammed higher interest rates and lower loan amounts. Employment Status. Your employment status can make or break your loan. It’s crucial for applying personal loans. While 95% of lenders don’t loan to people who are not in a job, 5% do. These are mostly NBFCs slamming you with high interest rates upto 130% and lower tenure like 3 months. So if you don’t have a job with income proof and employment stability, forget getting loans from standard lenders. But that’s not a problem because you can get loans from various lenders because these days there are so many lenders with flexible terms. So worry not. Debt-to-Income RatioDebt-to-Income Ratio is a percentage that tells how much of your income goes to debt. For example, if you’re earning 50k, and 25k goes in debt, then (25k/50k) multipled by 100 gives you the debt to income ratio. Here it’s DTI = 0.5*100= 50%.One can see the DTI ratio and instantly decided whether you’re a safe borrower or a risky borrower. DTI ranges<20% – Strong candidate for loan. 20-35% – Good candidate for loan. 36-40 – Decent candidate for loan. >40% – Risky candidate for loan.

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Personal lloan – Part 1

What is a personal loan?Personal loan is a type of loan where you borrow money to fulfil a variety of needs and wants. Mostly, in a personal loan, you are free to use the funds any way you wish, like paying for a vacation, debt consolidation, etc. It is mainly availed for financing large purchases.Features of Personal Loan:No need for collateral.Interest rate depends on your Income and credit history, where interest rates can go up to 130% for risky borrowers. Insane, right?Loan tenure is from 3 to 60 months depending on the amount. Minimal Docs enough – ID proof, Address proof, Income proof.Faster Processing Time where loan is processed within minutes.Common reasons for taking out personal loansBuying a GadgetMedical EmergencyEmergency Expenses.VocationWeddingDebt consolidation, where you clear all your high interest rate debt and credit card debts with one single personal loan.Downpayment for house.Vehicle financing.To start a new business.Improve your credit history. 4. When personal loans are beneficial than other types of creditWhen you don’t have any collateral/assets with you.When you need the loan on the same day.When there are many different expenses.When you like to pay fixed EMIs than varying EMIs.When you are thinking of opting for a credit card for money needs, also check the interest with the personal loans as they can go way beyond credit card interest rate if you are a risky borrower.

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Personal Loan Part 3

APR (Annual Percentage Rate) It’s the percentage that shows us the total cost (in %) of borrowing money from that lender. It includes interest rate plus additional fees, charges for the lending of the money. APR is used by borrowers to know how much a loan is costing them, compared to APY (annual percentage yield), which is used by investors to see their return from compounding. APR is useful when comparing different loan products. The nominal interest rate only gives us just the interest rate whereas APR gives us a more clear picture of how much it’s costing to take up the loan. ——————Fixed Interest rate (FIR)Vs Variable Interest Rate (VIR) The rate of interest is fixed for the lifetime of the loan in the fixed interest loans whereas the interest rate varies going up and down during the loan’s tenure after the initial period of 3-5 years. FIR is suitable for people who like the comfort of paying a certain amount every month with fixed monthly income and like to not bother with market conditions whereas Variable rate is suitable for people who think the market conditions will get the interest rates lower at times making the payments lower. In variable interest rate, the first 3-5 years of monthly payments can be lower compared to the fixed rate loans. ——————–How Interest Rates are determinedMany factors influence interest rates. The main factors are creditworthiness of a borrower, their credit history, government monetary policies, inflation rate, repo rate, etc. Creditworthiness and income are two factors mainly determining the interest rates while taking out a loan. Lenders often offer lower interest rates and higher loan amounts to people with great credit scores whereas people who have lower credit scores, typically under 700 may get higher interest rates with lower loan amounts. DTI is another factor in determining the interest rates. When DTI is above 50%, the lender may take more risk and increase the interest rates. ————-Impact of credit score on Interest rates. Credit score is a critical factor because it shows the lender the past history and the credit behaviour of the borrower. Interest rates can go crazy if the lender is not comfortable with lending or if the borrower is just meeting their minimum criteria. Higher credit scores give a positive sign to the lender that the borrower has been diligent with the credit. Negotiation Better Rates: The interest rates can be negotiated if the borrower has a stellar credit score and has a great reputation with the bank. ———How Lenders Use Risk Assessment to Set RatesLenders cater to a variety of borrowers with varying credit scores. So it’s not possible to give the same terms to everyone. For this purpose, the lenders use risk based pricing where the lenders check certain metrics of the borrower before lending and setting the rates. Main factors includeCredit score : Higher the score, lower the interest rate. Repayment History: Careless behavior or late payments or defaulting signals the borrower is a risky one. DTI ratio: Typically below 50% is the limit. Above 50% indicates that the borrower might default.

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Content Crelationship Strategy & Planning

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Content Strategy

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Best for sales

NOW WHICH PLACE IS BEST FOR SELLING?

WANTS – SOCIAL.

NEEDS & WANTS – GOOGLE.

WHAT I NEED – 20K MONEY – NEEDS.

TSHIRT – NEED. AMAZON, FLIPKART. NEXT SOCIAL.

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SOCIAL VS GOOGLE

SLGL.FUN  – ANIMATION, STORY VIDEOS, CAROUSEL STORY.

NO – AUDIO, TEXT. 

EXPRESSION/HIGH END/EXPLORE/CREATORISH/CREATIVITY- IS SOCIAL MEDIA.

INFORMATION/STRATEGICAL/NEEDS/WANTS IS GOOGLE.

ANOTHER REASON WHY EVERYONE IS ON SOCIAL IS NO TECHINESS INVOLVED. 

WHICH ONE IS EASY TO MAKE MONEY ALSO THE COMPETITION. IF THERE IS NO COMPETITION, WHICH ONE IS EASY TO MAKE MONEY. GOOGLE.

FINANCE – STOCKS, LOANS, INSURANCE – EXPLAINER – VIDEO, AUDIO, IMGS, TEXT.

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Starting a Post

NATURE/STYLE OF THE POST : STORY, INFORMATIVE, ANYTHING.

whats the word? Idea, subject – for example, topic, niche, sub niche. Eg. Finance –> Stock market or Why Volume is important in Trading.

GOAL OF THE POST : MAKE PEOPLE AWARE OF “THIS”, TEACH THEM, ENTERTAIN THEM.

MODE OF POST: A GUY IN THE SCREEN WITH A VOICEOVER, OR A INSTAGRAM 1O STORY STYLE POST WITH FLATICON GRAPHICS, ETC.

SUBJECT: WHICH SUBJECT YOU’RE GOING TO USE TO CONVEY THE GOAL OF THE POST.

STEP 1 : INFORMATION (KNOW) OR CREATION (LIKE & TALK) or TALK STUFF THAT YOU LIKE OR KNOW. MY LIKE = ROAM AND TALK TO PEOPLE.

STEP 2: GOAL OF THE POST – INFORM, HAVE FUN, GET LIKES (VISUALS & STORY, 2 MIN MIN CONTENT TIME, GET CLICKS (COPYWRITING), ETC.

STEP 3: IDEA/SUBJECT/OUTLINE/HOW. MENTTALLY. FOR EXAMPLE, IM VISUALLY THINKING ABOUT: GETTING UP AND EATING AND GOING SOMEWHERE THEN

STEP 4: WRITTEN. DETAILS.

STEP 5 : DELIVERY STYLE. CONTENT FORMAT. VISUALS.

ONNU /FORMING/CREATING/ KNOWING, RENDU HOW ARE YOU TELLING IT DIGITALLY.

FORMING (WRITTEN).

RELEVANT DIGITAL CREATION.

SYNCS WITH PLATFORM LOCATION (FORMAT).

TARGET AUDIENCE.

FOR EXAMPLE,

WRITTEN: WHY VOLUME IS IMPORTANT IN TRADING (TRADING) (BEST EXPLAINED IN ANIMATION/VIDEO/BLOG POST) (I WOULD AVOID – AUDIO, INFOGRAPHICS, CAROUSELS)

AUDIENCE & AUDIENCE LOCATION: 20 YEAR OLDS. INDIA. INSTAGRAM, THREADS, YOUTUBE, GOOGLE. Create image with blog content with next in it, do not transform it into a colorful image, slightly ok, not more than 30% because then the content will lose its grip and visuals will get attention.

AUDIENCE DECIDES THE PLATFORM & CONTENTS NATURE DECIDES PLATFORM LOCATION AKA CONTENT FORMAT. THERE CAN BE MULTIPLE FORMAT SUITABLE FOR THE SAME TOPIC. ABSOLUTELY.

BEST FORMAT THAT SYNC WITH THE WRITTEN (CONTENT) AND THE PLATFORM WILL GO TO CREATION.

THEN DIGITAL CREATION TO THAT LOCATION. NOT TO ALL LOCATION.