Tips to grow finances & be richer in 2013

If only financial plans were more like Bollywood potboilers, where the protagonist scampers past losing situations, stumps all odds, and streams through to a happy ending. Off screen, however, the best laid plans are invariably subverted by reality—the stock market dips, inflation surges, economies collapse, and so do your finances.

It's to avoid such morbid endings that advisers like ET Wealth come into the picture. We help our investors pen scripts that may not give them the high of being invincible heroes, but guide and prepare them in a way that can set their finances soaring.

While there's no time like the present to begin shoring up your finances, a year-ender makes for a poignant starting point. It's that magical period when hope straddles the happy cusp of the past and the future, and wields its wondrous wand to turn remorse into resolve, losses into learnings.

It's the sanguine phase when you are eager to shed your failures and chisel out a spiffier financial scape for yourself. As we ready to harness this hope and tell you how to make the most of 2013, remember that the action plan needs to be rooted in the lessons of the past year and expectations in the one ahead.

Much like every year, 2012 held out crucial pointers, which can be extrapolated to formulate the right strategies. The year told us that though the global markets have not quite righted themselves, India may have started on its path to recovery, and hence, it may not be the right time to quit equity. It spoke of a shaky industry, wherein blue chips too made for a risky investment, but also pushed up sectors that could withstand the economic rumble and made for good picks.

It warned of a recalcitrant inflation, which did not allow interest rates to be trimmed, and though they may not relent this year as well, even a marginal fall could augur well for home loan takers. It revealed the vulnerability of the rupee and the resilience of gold; how these would impact your export or travel plans, and your asset allocation.

In the following pages, we shall treat these lessons as starting points to lay out a financial blueprint for the coming year. We shall tell you how to reap the best interest rates on your deposits, where to invest for the highest growth, which pension plan to opt for to secure your retirement, how to put your career on fast track, how to optimise your spending by checking out the best cars and gadgets lined up for 2013, and how to make the most of your travel.

We shall also list out some financial resolutions that demand to be incorporated in your Plan 2013. We hope our special year-ender package nudges you into the New Year with vital information and verve essential to make you richer.

In keeping with the festive cheer, we have reserved the best for the last. To retain your financial fervour and stretch your horizons in synch with the changing times, we plan to upgrade ET Wealth in 2013. So, over the next few months, we shall introduce new sections and columns across the personal finance spectrum. These stories shall not only be more incisive and evolved, but also serve your financial interests keenly.

http://economictimes.indiatimes.com/personal/finance/savings/centre/analysis/Tips-to-grow-finances--be-richer-in-2013/articleshow/17807709.cms

How to Create a Successful Online Business in a Recession

Is it really possible to create a successful online business during a recession? Absolutely! Although many consumers are holding their purse-strings a little tighter these days, e-commerce continues to grow. Now is the time to cash in on this growing trend.

Brick and mortar (B&M) stores are closing left and right. The once healthy, thriving malls of our nation are becoming ghost towns. With so many stores closing, consumers are left with fewer local shopping choices. As quickly as B&M stores are closing, online stores are opening.

How can online stores make it when B&M stores cannot?

Simple, e-commerce stores have tremendous reach. Online businesses attract customers from all over the globe, while B&M stores only reach local customers. With such a great number of potential customers, it takes only a small number of conversions to create a successful business.

What does it take to not only attract visitors, but to turn those browsers into buyers?

The secret to success is to understand today’s consumers. What do they want? What are they willing to spend their hard-earned dollars on?

In order to answer these questions, you must think about what type of products you are interested in. There are many products that you use on a daily basis. Everyday products are a wise choice for sellers, because there is a constant demand. The demand for products is what drives commerce. While necessities are a good choice, luxury items are even better.

In a thriving economy, consumers spend generous amounts of money on personal luxuries. While consumers still desire luxuries in a slumping economy, the amount they can afford to spend is often reduced substantially. This does not mean that consumers stop buying luxury items; rather, the type of luxury items they buy changes.

Luxury items, products that are purely for enjoyment, are a great choice for sellers. Even in hard times, consumers tend to spend money on desirable products.

The types of luxuries that sell well now are different than those that sell well in a robust economy. Rather than spend an expensive night out on the town, consumers are choosing to entertain themselves at home.

What types of products are hot now?

Today’s consumers want personal luxuries that they can use every day, such as video games, digital cameras, computers, software, cell phones, music, movies, books, collectibles, and lingerie. Health and beauty products are also selling well. Products that are entertaining and make consumers feel good are hot right now.

Product selection is crucial; however, it is not the only factor of success. To understand what else drives consumers to specific businesses, you need to consider your own shopping habits.

What stores or sellers attract your business? Do they offer you a little something extra?

It is often an added value that entices customers to purchase from a specific seller. Typical added-values include: superior customer service, gift with purchase, discount sale prices, frequent buyer club, high-quality goods, credibility, trustworthiness, and convenience.

Let’s take a closer look at added-values.

Offering superior customer service seems like a no-brainer, right? Unfortunately, excellent customer service is difficult to find. Poor service, on the other hand, is not. Think of a time when you needed help in a store, and there was no one around to address your concerns. Or the time when the clerk stood there talking to another employee while checking you out. Then there were the clerks that could barely pull themselves away from a magazine, or personal call, to help you. Unimpressive and lackluster customer service is commonplace.

By offering outstanding customer service, you set your business apart. Customers are the lifeblood of business. Treat them with the respect they deserve to keep them coming back for more.

Deals and discounts are like magic. They entice current customers and lure new ones. A simple gift with purchase or coupon code can make all the difference in closing a sale. Have you ever browsed a store, added items to your cart, and then abandoned it? You just couldn’t force yourself to make the purchase. If so, you had shopping anxiety. What would have alleviated that anxiety? A coupon code or gift with purchase might have sealed the deal.

During a recession, many consumers shop smarter. Savvy shoppers want more value for their money. Customers realize their shopping dollars are power. They want something extra to shop at a specific store. Added value leads to loyal customers.

Offer coupon codes, gift with purchases, and frequent buyer discounts to help your customer’s money stretch a little more, and watch your business grow.

Selling high-quality goods increases your credibility and trustworthiness as a seller. Shoppers quickly learn that they can come to you for quality products. In hard times, consumers want more out of the products they buy. Quality becomes more important that quantity. Longevity is key. By selling brand name, high-quality merchandise, you business becomes a brand name.

What is the most essential element of a successful online business?

Convenience and ease of use is the most important aspect of a retail website. If your web store is not easy to use, then forget it. It doesn’t matter how good of a selection you have or how low your prices are; customers are not going to spend hours trying to figure out how to shop on your site.

They key areas to focus on are: navigation, shopping cart functionality, quality photos, enticing and informative sales copy, and a secure checkout process. Successful e-commerce sites provide a seamless solution.

Your website should guide customers through the selling process. If creating an aesthetically pleasing, fully-functional web store feels overwhelming, don’t worry! Many companies offer turnkey, all-in-one, solutions at very reasonable prices. A turnkey solution is fully-configured with everything you need to run an online store. Add your store info (products, sales copy, etc), and you’re ready for business.

http://www.dropshipaccess.com/education_read.php?quizID=81

29 Quick Cash Injections

A fantastic way to earn some extra cash in this day and age..

1. A part-time job

A part-time job is the obvious first choice, opted for by most students. A part-time job provides a pretty steady flow of income and can enable you to gain valuable work experience. However, jobs can often be hard to find. Also, remember that a part-time job is a real commitment that may seep into your social activities, or a have a negative impact on your study.

Check classifieds, our student job section, student job websites and your University careers service for vacancies. You may be lucky and get a job on-campus. Read our article on finding a part-time job whilst studying. It has many top tips and all the types of student jobs are listed in there.

2. Mobile phone recycling

See how much you can get for your old mobile phone using our in-house mobile phone price comparison tool!

You can get some good money and help the environment by recycling your mobile phones. They will pay you for your old mobile phones. Most are shipped off to Asia. Check out our own price comparison tool to get the best deal. You could get up to £200!

3. Paid surveys

A popular way for students to make money is to fill out paid online surveys in their spare time. For a few minutes of form filling, you can receive a few pounds. Even up to £3 for some surveys!

A few good ones to try are: Toluna, Global ePanel, Lightspeed, MySurvey and Valued Opinions.

Update: see our new guide to the best paid online surveys!

4. Sell on the student market!

One great way to make money is to buy other students’ text books at the end of the year, and then sell them online after freshers’ week – when students know that they need them!

Sometimes trading with fellow students can take out all the hassle.  If the fellow students are from your campus, then trading is even more hassle free because you can get the books hand delivered.

If you need any tips to sell online then we have a guide for that here.

5. Babysit

Advertise your services locally. It’s a classic, and for good reason. You get paid (well) to watch TV and do not very much!

Be warned that you will need a CRB (Criminal Records Bureau) check in order to do babysitting, even though the majority of parents will not ask for one. If you are looking for a price bracket, then you can charge £5-6 hour even if you aren’t trained in child care. It really is easy money (unless you get stuck with the child from hell)!

6. Enter competitions

Entering competitions is not a definite way to make money, but it can be a fun way to try. Imagine you made it onto Deal or No Deal instead of just watching it! There are actually people in the UK who treat competition entering as a full time job.

Some great places to start with free competitions are MyOffers and OffersClick. If you like, you can keep an eye on our student deals page for competitions throughout the year.

7. Be an extra

Do you fancy yourself as a budding young actor or just that person that walks past in the background shot of an episode of Eastenders? It could be you if you apply to be an extra. The pay isn’t bad either – £60-80 a day on average, and sometimes you hardly have to do anything!

You can apply at Be On Screen for a number of opportunities or 2020 casting. However, these agencies will take a cut of all of your earnings.

8. Start your own website

There are lots of stories out there about successful students who have started a site while at university, or even bought a domain name and later sold it for 1000′s. Save The Student is an example of a website started at university which has grown into the comprehensive and successful that you see today.

Read our 4 step guide to setting up a website for some more useful information. It’s as simple as starting off with a blog.

9. Sell all your old CDs, DVDs etc.

If you are looking to make a very quick buck, then selling your old bits and bobs that are lying around like CDs and DVDs might help. The best thing about it is that you can rip all of the songs and films onto your laptop or external hard drive before selling them. This means that you are only really selling the plastic and artwork.

You can earn around £2-6 per item, and earnings can really add up if you have a large collection. It also helps to de-clutter the house!

Check out the best sources to sell DVDs, CDs and games are in our very own article. You can also sell almost anything for free on Preloved.

10. Sell on your education!

Become a tutor to local GCSE or A-level students (find out more about tutoring here). There are now a few online tutor sites too, so you can go also global.

You may feel as if you aren’t qualified to be a tutor, but seeing as you are at university you will most likely have the qualifications to tutor for GCSE or even A-Level. Some parents may feel that their child will react better to a younger tutor, so why not give it a go?

You can advertise of SchoolsTrader or sign up with Bright Young Things & UK Tutors. You could earn over £10 an hour. However, make sure you don’t have to do too much tutoring around your exam times!

11. Advertise your other skills

What can you do well where others struggle? Fix bikes, computers, write articles, create websites, sell cupcakes or lemonade?! You may also make a few bob selling your photos online…

The key is to be creative and think outside the box. A team member at Save The Student actually made small models out of beer cans and wire and sold them to other students. Great idea!

12. Sell your photos

If you think you’ve got a good shot and a little creativity, try uploading your photographs for free to stock websites. Make more money selling photo subjects that people demand. A good starting point is Fotolia or istockphoto.

If you don’t quite take off on these sites then you could advertise your photos for free with apps like instagram and social media sites like Twitter.

13. Financial support

Make sure you have applied for all relevant university grants and bursaries. There may be a few hundred quid in it!

It’s money that you don’t even have to pay back and a lot of students are eligible for a scholarship or bursary without even knowing it.

14. Rent out your car park

Some student accommodation has a drive or garage. If you aren’t using your parking space and you are near the middle of the city or a hot tourist spot then you might be in luck. There are plenty of people that may work in the city centre and are fed up of paying through the roof for daily parking.

Advertise your space on Gumtree or Park at My house. You are more likely to be successful with Park At My House as it is their job to find someone for you.

15. Work as a charity collector

We must admit that these are the kind of people you always look to dodge on the high street. They can sometimes be annoying and will stop at anything to get you to sign up (because you get commission).

If you are bubbly and personable and reckon you could sell sand to an Arab then this could actually be a great student money making idea. You can have a look around a few places including Wesser and the charity websites like Oxfam.

16. Become a freelance interviewer

Do you want to exell in an HR career? Do you love asking questions? Believe it or not a company will actually trust you to carry out interviews for them ad pay you for your time. It couldn’t be simpler.

You could make £185 a week plus have your travelling costs covered. The large downside is that you will have to commit to 20 hours at least a week so make sure that you have the time. Apply at NatCen.

17. Review music for money

Are you a music lover? Believe it or not you can actually review music for money. I know… we couldn’t believe it either. You will have to review music from unsigned bands and artists.

It takes a while to build up the reputation and money but some users of the site have said that they have earned £40 a month. This may not sounds like much but it’s not hard work and every little helps. See SliceThePie for more info.

18. Become a mystery shopper

Becoming a mystery shopper is easier than you think . You can get paid to spend money in shops, usually in the form of a voucher for the shop in question.

If you really want top customer service then why not let the staff know you are a mystery shopper and you may be treated like a god!

For more info check out our how to become a mystery shopper article.

19. Try dog walking

Dog walking may sound trivial but it’s a big business. Just think that you may be around the house during the day when others are out at work.

Also, it’s a great way to keep fit. You could make £7 a dog for a 1 hour walk. Advertise your services with fliers or on websites such as Gumtree.

20. Buy objects using cashback sites

This is not only a way to make money but also save money as a student. If you look at it in a different way then you are making money with every purchase you would have made anyway, whether it be 10% or 0.5% cashback.

Every little helps so it’s great to sign up to student cashback and make all of your purchases through here to build up your cashback pot.

21. Claim back tax

There are a number of students that work during the summer months and even have placements or paid internships. The likelihood is that you won’t earn above the tax threshold.

If you are unsure on how to claim back tax and whether you are eligible then check out DirectGov or our article on claiming tax back for students.

22. Rent out your house for filming

Someone might want to film in your house. As a matter of fact a clip in Coronation Street was filmed in a student house that one of the Save The Student team lived in. Not only can you make good money but it’s amazing seeing your accommodation on TV.

Start your search by looking at film-locations.co.uk

23. Rent out your body

Ok Ok, this isn’t what you think. “Renting out your body” can go as far as you want it to go. For example we wrote and article a while back about students who are turning to lap dancing in order to make a quick buck.

If you are comfortable taking off your kit for a more acceptable cause then why not try life modelling. Sit there in the buff while budding artists capture your every curve and pokey bit in frightening detail! Try this website especially designed for these kind of jobs RAM.

You could also get involved in clinical drug trials. If this scares you a little then you can find more information here.

Warning: Do not do anything you are not comfortable with, no matter how desperate you are for money! There has been an unhealthy rise in student prostitution which is unfortunate. Do not fall victim to it!

24. Do freelance work

Maybe you enjoy making Facebook pages or doing a little bit of graphic design in your spare time. There are so mayn freelance jobs out there that require simple skills that not everyone has time to pick up. A number of small businesses often search the internet for freelancers looking to do a quick job.

PeoplePerHour is a great place to start and you could be earning that extra bit of cash you need for university doing what you love and working to your own hours.

25. Start Busking

If you can sing or dance then this is your time to shine baby! Did you know that Justin Bieber started of busking? That’s right, with a little work you can be as annoying as him.

There are really no tips for this except choose a good spot, make sure you are good and play your heart out. Some buskers in the past have been known to make upwards of £20 hour.

26. Sell clothes on eBay

Everyones best friend when it comes to getting rid of junk is eBay. A lot of students will know that student fashion comes and goes very quickly.

A great way to get rid of that sleveless jacket (which came in and out of fashion in a week) is on eBay. You could sell it for almost as much as you got it for is you are lucky. Some student even look at trends and try to predict what will be big. If you are good then you can buy early in bulk and sell on when the fashion craze hits. Do this at your own peril.

27. Matched betting

This is one of the trickiest skills to master but it could be the easiest money that you ever make. Try it at your own risk and look out for our article coming shortly that will help you succeed in matched betting.

28. Sell your stories

If you have an interesting story then you could sell it to the papers. It could be anything from sleeping with a local footballer to getting caught in a clothes horse! One of the Save The Student team actually had a pigeon fly through their window at university and sold the story to The Sun for £50.

You could also film your mates at all times and send it into You’ve Been Framed to grab yourself a tidy £250.

29. Sign up for psychology experiments

You may get these to your student e-mail from your university or careers service. They aren’t dangerous and usually don’t require too much effort or much of time. Whilst they often compensate you in cash or vouchers, they may even interest you!

It’s worth bearing in mind that these are different from the health experiments that you hear about. There will be no strange probes involved!

http://www.savethestudent.org/make-money/10-quick-cash-injections.html

How to make money online

1. The first step is to stop Googling things like, "how to make money online." Not because you shouldn't want to make money online, but because the stuff you're going to find by doing that is going to help you lose money online. Sort of like asking a casino owner how to make money in Vegas...
2. Don't pay anyone for simple and proven instructions on how to achieve this goal. In particular, don't pay anyone to teach you how to write or sell manuals or ebooks about how to make money online.
3. Get rich slow.
4. Focus on the scarce resource online: attention. If you try to invent a way to take cheap attention and turn it into cash, you will fail. The attention you want isn't cheap, it's difficult to get via SEO and it rarely scales. Instead, figure out how to earn expensiveattention.
5. In addition to attention, focus on trust. Trust is even more scarce than attention.
6. Don't worry so much about the 'online' part. Instead, figure out how to create value. The online part will take care of itself.
7. Don't quit your day job. Start evenings and weekends and figure it out with small failures.
8. Build a public reputation. A good one, and be sure that you deserve it, and that it will hold up to scrutiny.
9. Obsessively specialize. No niche is too small if it's yours.
10. Connect the disconnected.
11. Lead.
12. Build an online legacy that increases in value daily.
13. Make money offline. If you can figure out how to create value face to face, it's a lot easier to figure out how to do the same digitally. The web isn't magic, it's merely efficient.
14. Become the best in the world at something that people value. Easier said than done, worth more than you might think.
15. Hang out with people who aren't looking for shortcuts. Learn from them.
16. Fail. Fail often and fail cheaply. This is the very best gift the web has given to people who want to bootstrap their way into a new business.
17. Make money in the small and then relentlessly scale.
18. Don't chase yesterday's online fad.
19. Think big, act with intention and don't get bogged down in personalities. If it's not on your agenda, why are you wasting time on it?
20. Learn. Ceaselessly. Learn to code, to write persuasively, to understand new technologies, to bring out the best in your team, to find underused resources and to spot patterns.
21. This is not a zero sum game. The more you add to your community, the bigger your piece gets.

http://sethgodin.typepad.com/seths_blog/2012/05/how-to-make-money-online.html