I think that most people are used to the idea of trying to save a dollar here and there. To the general public, it is widely acceptable to look for offers on everyday products, to make what you could call “micro-savings”.I call these “micro”, because it usually is a matter of very small amounts, that can only be significant if you look at the aggregate over time.
If you carry the micro-saving mindset day after day, it can definitely amount to something over a year, and this makes it worth it, to cultivate it as a habit.
Once you have cultivated the habit of looking for small savings in everything that you buy, you can begin looking for small earnings in your daily routine, to take it even a step further.
In my daily routine
I have begun looking for earning opportunities, in ways that doesn’t impact my quality of life. Even if they can only be regarded as “micro”-opportunities.
So far, I have found 2 sound ways to make a little bit extra:
1. I work part-time in a gym as personal trainer and assistant manager. So I spend a few hours in the gym every day, and I have noticed how people tend to leave their water bottles everywhere when they are done working out. Since I have to clean up their mess, I take the bottles to the recycling system in the supermarked next door, which returns a small amount of money for me. (This system might not exist all around the world?). It has no negative influence on my day at all, and if I had to guess, this will probably earn me around 200$ a year.
2. I have found a few ways to make a little bit extra on the internet, by doing completely mindless tasks. One is taking surveys, the other is working for Amazon Mturk. These won’t make you a lot, but I try to combine them with other tasks, to make it all more productive. Currently, I want to learn to speak Persian (my wife’s native language), so I listen to my language podcast, while working on these sites, to earn a little extra.
All of this extra income is truly “extra”, since it does have a negative impact on what I already earn – no opportunity cost. It is therefore most likely, that it will get invested and added to my nest egg, which gives it even more meaning, once it starts to generate passive income via interests.
My question is: can you also find opportunities to make micro-earnings throughout your day?