Pennies at a time

Discussion in 'The Cocktail Lounge' started by Rosyrain, Oct 2, 2015.

  1. Rosyrain

    Rosyrain Senior Investor

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    I have been doing some work online for well over a year now in order to save up for things I need, and hopefully be able to invest some of my extra earnings at some point. I do odd ball tasks and some freelance writing. Some people ask me if it is worth it to do tasks that pay pennies for completion. My simple answer is yes, because if you mind your pennies then the dollars will add up over time. I find it worth it to earn even a couple more cents than I had in my pocket the day before, as long as the task does not take me a lot of time to complete. What are your thoughts on this?
     
  2. missbishi

    missbishi Well-Known Member

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    I'm in the same boat as you and often get asked this question myself. The majority of tasks can be done whilst watching television though and I simply see this as maximising my time. There's that old saying; "Look after the pennies and the pounds take care of themselves". Every penny I earn is one I didn't have before and I'm grateful for the opportunity to earn it.
     
  3. SteakTartare

    SteakTartare Senior Investor

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    I have a good day job, as does my spouse, but I've done various "microjobs" on the side. It was due to curiosity. I will say most are dismal and hardly worth the time. Some are outright scams. So, I pretty much don't bother now.
     
  4. Penny

    Penny Well-Known Member

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    I think the best way to get pennies to add up is to create work that continues earning or is at least sellable multiple times. If the job is one work, one sale, all rights--you never climb out of the hole.

    For example if I write an artice I can sell it for publication (exclusive but limited period), then maybe as a reprint, then either put it on a monetized blog or compile it into a self-published ebook.
     
  5. crimsonghost747

    crimsonghost747 Senior Investor

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    Most of the "jobs" are just that, pennies for something a monkey can do. I don't think it's worth it for the money only. Now if you enjoy doing them and you have the time to waste, then it's more like a hobby that brings in a bit of cash. And in that case it's a win-win situation isn't it?
     
  6. TheApollonian

    TheApollonian Well-Known Member

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    Every little thing counts, yep definitely true in the long run just don't go for those PTC sites that are hardly worth your time and effort. Go for freelance writing, blogging, designing etc. there are a lot of part-time jobs out there that'll help you achieve your goal. Money is money, I say just make sure what you exchange them for is worth more or equal for what you put in. Go get em.
     
  7. Rosyrain

    Rosyrain Senior Investor

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    It would be neat to take the money I earn online and start investing it so that it grows itself over time. Right now I need every penny to take care of personal matters and don't have much to save, let alone, invest. I do not do literal penny jobs and even the higher paying ones have to be easy in order for it to be worth It.
     
  8. crimsonghost747

    crimsonghost747 Senior Investor

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    hopefully you can do that at some point. It's a great idea but just be prepared to wait for a loooong time to see any real income from that as you probably won't be throwing much money into the market.
     
  9. Susimi

    Susimi Senior Investor

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    Due to my situation I spend a lot of my time online and I've started doing various micro jobs over time. Sure, I'm making a pittance but at the same time I feel like I'm doing something productive and am "giving back", if that makes sense?
     
  10. My401K

    My401K Well-Known Member

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    Pennies in the rain. They can add up, it just depends what it is that you decide to do with them. You have to look at any cash lead you find, be it a job or an earning potential, in the light of what potential doors it could open for you for additional earning. As they say it takes money to make money, and that is true in a way because you have to take the risk of spending to see if there is a return on investment. It is hard to take risk in investment when you have scant resources. It can feel like it might be better to just throw that money down on a spin of the wheel. Take that 50/50 chance.

    I think what you have to do is look at money in a different way, people sometimes make money but fall short in the plan of what they will do with it. Mostly because the money seems to burn a hole right thru their pockets. Make a long term plan on how you plan to make your money work for you and stick to it. If you do not see the gains you want then change the plan . There are no sure fire answers, all of it is speculative, but you can increase your odds if you take the time to really look at what you want and how to get there. Like a garden you have to work it for awhile before you see a return. Sometimes you win, sometimes you lose, but to do nothing or close to nothing will always be a loss.
     

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