The One Skill You Can Learn To Make Money From Anywhere In The World

Have you recently been bitten by the travel bug?

Are you soon required to relocate in order to accommodate a new job position?

Whether you consider yourself a citizen of the world or you are simply looking for a change, travelling is a great way to expand your horizons.

Still, money can and will represent an ongoing concern. This is why it is a good idea to appreciate the sheer potential of online investing. Perhaps even more importantly, is there any one “key” to financial independence when trading?

Let’s see what the best in the business have to say as well as how you can put your best foot forward from the start.

Know Your Trade

Many investors want to take on the world in regards to profitable positions. Although diversification is a good thing, it should never be mistaken for spreading yourself too thin.

One principle which has served countless traders well is what Warren Buffett refers to as the “circle of competence“. This concept will represent the focus of the article.

What is meant by a circle of confidence?

Simply stated, this signifies that traders should only become involved with positions associated with an innate sense of familiarity.

For example, the chances are high that a commodities expert would fare poorly if he or she suddenly became immersed in the Forex markets. The same holds true for other sectors. It is much more prudent to focus upon one or two underlying asset classes if you hope to maximise your returns over time. Still, this principle can be extended far beyond typical stocks and shares.

Informed Positions: The Strategic Edge

Some methods are better than others if you hope to make money while abroad.

CFD positions are perfect examples due to their liquid nature as well as the possibility to turn a profit even if the value of the asset itself begins to fall.

Furthermore, the upside to CFD trading is the fact that you can access the markets anywhere in the world. This sense of on-the-spot flexibility might not always be possible with other ventures.

Practice, Practice and Practice Some More

If we once again refer to the previous maxim coined by Warren Buffett, your skill set is very important. Try to hone one specific talent (such as your proclivity towards short-term positions) and capitalise upon this trait through practice. Let’s look at this approach in another way.

The traditional Japanese would spend years at a time perfecting a certain action or task (such as learning the art of pouring tea, or simply The Way of Tea).

As a result of such dedication, they would become experts in a specific trait. This very same approach should be taken in regards to investing. However, keep in mind that you can still diversify within a single asset class in order to achieve greater diversification.

Regardless of your choice of investment or the ultimate goal, this strategy could very well represent the most effective mindset to possess if you hope to make money with consistency while travelling abroad.

Using Your Car to Bring in Some Extra Money

Auto financingThere are a lot of ways to go about bringing in some extra money. You could start a small business, get a part time job, sell things you don’t need, or even just cut some costs around the home. One way that a lot of people overlook however is using their car to bring in some extra money. If you’re the owner of a car, there are several things you could be doing to bring in some more cash. Here are just a few suggestions to get you started.

Grab a Side Gig

One of the first things you’ll want to consider is using your car to get a side gig. Side gigs are great at bringing in extra money on your own schedule, and some of the best require the use of a vehicle. For example, you could become a driver for a rideshare app like Lyft or Uber. With one of these gigs you drive people around when you want and earn some extra cash. Everything is handled through the app so you don’t have to worry about finding customers or getting paid.

Another option you can look at is deliveries. Chances are you can find a local restaurant that could use some help bringing food to customers. Or, some grocery stores provide delivery service if you have enough space in your car. Amazon is even looking for people to deliver packages in their local areas. You can see if this service is available in your area here.

There are plenty of options for side gigs if you have a car, so think about what it is you might like to do then see what is available to you where you live.

Advertise on Your Car

If a side gig isn’t for you, consider using that blank space on the sides of your car to earn a little extra cash. Some companies are willing to pay you to advertise on your car and all you need to do is drive around like you normally would. When looking for these opportunities, make sure that you are partnering with a reputable company, as there are some scams out there. If you’d like to learn more about getting paid to advertise on your car, you can do so from this guide.

Rent Out Your Car to Others

Do you not use your car very often? Does it spend long periods of time simply sitting in your driveway? If so, you should think about renting out your car to others. Some people only need a car for a few days or weeks at a time and don’t want to pay the expensive prices that come with a car rental service. By renting out your car to others you get to bring in some extra money without having to do much.

Of course, there are some considerations to take into accounts. For instance, make sure your insurance company covers you when other people are driving your car. You’ll also want to think about the amount of miles that will be put onto your car, or limiting the miles for whomever drives. If you’re on a lease you don’t want to rent out your car only to find that they used it for a cross-country road trip.

Get Rid of It

Finally, you could always just get rid of your car. Maybe you and your spouse are now retired, and you only need one vehicle between the two of you, allowing you to get rid of the other one. Or maybe your car is broken down and you don’t want to pay to have it fixed. There are plenty of reasons why someone might want to get rid of a car – the real question is how to get rid of it.

One option is to simply sell it. You can do this privately or through a dealer. If your car is in good shape you should be able to get a decent return for it. Broken cars will get you less, but something is better than nothing.

Another option is to donate your car to charity. In return you get a tax write-off, and some charities throw in a little thank you gift. It isn’t much, but if you’re not going to use the car anyway, you might as well get something for it.

Finally, if all else fails, take look for some car junkyards near you. Junkyards will give you some money to scrap your car, although it likely won’t be much. This option is usually taken by people who have a car that is beyond repair and who are unable to sell or donate it.

Plenty of Ways to Get Extra Money from Your Car

As you can see, there are plenty of ways to use your car to bring in some extra cash. It all depends on your current situation, how much money you’re looking to bring in, and what condition your car is in. If you take the time to explore the options above you should have no trouble finding ways to bring in extra cash thanks to your car.