If you are reading this article, it is because you have achieved what many people dream of: earn money online. What’s next? Although you have taken an important step, it is important that you learn how to manage your winnings.
As you read, it’s important to use your money properly online and consider a number of recommendations that will save you from falling for scams and wasting your money or time.
That’s why the five tips below will help you manage your online money so you can make the most of it and focus on expanding your online income streams.
1. Don’t keep money made online in online accounts
Internet money-making sites are not banks.
There is no protection if they go under and take your money with them. Because of this, it is best to withdraw your funds as soon as you reach the minimum withdrawal.
If you want to learn how to manage the money you make online while reading, the first thing you should do is withdraw money from these websites.
It is preferable that you have this money in your bank account or in a mutual fund that will allow you to earn some return while deciding what to do with these resources.
2. Set up a dedicated email address
All money-making sites primarily use your email account to communicate with you. From a job as a freelancer to notifications that new paid surveys are available for you.
Your email account is likely to be flooded with spam, so you need to set up a dedicated email address to start making online revenue.
The best option for these types of accounts is Gmail. This allows you to quickly check when new paid tasks are available.
3. Don’t spend a few hours trying
On some sites it may take a while before you earn enough to withdraw your funds. If you give up, it means you completed the tasks for free.
Because of this, it’s important to understand that you won’t always make a quick buck, but it’s a good side income. As long as you are persistent and have a little patience, you can make a good income.
If you only devote a few hours to visiting them, you have wasted your time.
4. Spend your gift cards as soon as possible
When you have the opportunity, choose cash payment. However, this is not always possible due to the country you are in or the payment system offered by certain sites offering online jobs.
In the event that they pay you through gift certificates (gift cards), the recommendation is that you use them as soon as possible.
This reduces the chance of you being left with invalid coupons in the event the retailer goes out of business. Or it is also possible that these gift vouchers will expire and useless codes will remain.
In the case of Amazon gift cards, you can search among your friends and family who are interested in shopping from this online store. This allows you to monetize your gift vouchers and receive the money in cash.
5. Don’t forget taxes
Before you start counting the amount you’ve earned online, to really properly manage your income, don’t forget the percentage that should be used for taxes.
Whether you have to make a declaration to your country’s authorities, or in the case of freelance websites, you have to give up part of the website, you almost always have to contribute commissions from what you earn.
Since each additional source of income must be declared, be sure to be truthful. Depending on the authorities how tax collection is handled in your country, you may need to register as a self-employed person to avoid fines.
Start managing and creating new sources of money online:
Now that you are earning income online, it is important that you not only learn how to manage this digital money, but also find new sources of income that will give you financial freedom.
I would like to make you a very special invitation:
I hope that this free training will be of great help to you, as well as these tips that will help you properly manage your money earned online.
Continue reading: 10 ways to start generating passive income from scratch in 2021