We all know that the pandemic has been really hard on businesses, especially community-owned ones. Many people have been laid off work recently because companies needed to downsize. Businesses firing employees has led to unemployment to rise and people’s incomes to fall. The amount of people applying for unemployment benefits right now is at an all-time high. So, what can you do now to make money without actually having to work a job?

1. Stock Market

We all know that the stock market is a risky place to put your money. Yes, this is very true, but not to the extent most people see it.

Making money off the stock market is actually one of the safest and most guaranteed ways to make money from your investments.

However, this money accumulation may take a while. Why? While stocks tend to fluctuate day to day, over time you are almost guaranteed to see the price of your stock increase.

The stock market over the past 50 years has been outperforming any other market out there.

To start investing with the stock market before you turn 18, you must open a custodial account, which is one with your parents or guardian. Many places offer these accounts like TD Ameritrade ad Firstrade.

So, you should take some time out of your day and invest a little. As long as a company doesn’t go bankrupt, the chances of you making money are very high.

2. Peer to Peer Lending

Peer to peer lending, also commonly known as P2P lending, is a type of lending to people and businesses through online services. These online services operate more cheaply than traditional financial services.

All the interest rates can be set by the lenders (you and I), so borrowers can compete for the lowest rates.

This is a normal easy way to make passive income, and the dividends are higher than those in a normal savings or growth account at your bank.

The only risk one may take is lending to someone with bad credit. In this case, the government does not guarantee your money back if it is lost.

3. Personal Creativity

While this method is going to be the lowest chance of making money, this might be the best way to grow yourself as a person.

Investing has a lot to do with gaining skills in that area, but personal creativity is something you do to showcase something your good at.

For example, if you have always loved writing, you should look into writing a book. While this may take a long time, books are very profitable if you write one that sells. Even if you don’t, you will be strengthening your writing and creativity skills.

Another option could be for someone who loves video games. Starting a YouTube channel or stream could grow you a following that could lead to you being monetized by YouTube or other streaming websites.

Always remember you can make money if you have a certain skill or desire.