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Lazy money and wealth are closely related. If you want to create true wealth, you need to find ways to create lazy money.

Because lazy money is the money that comes to you without too much ongoing effort. Lazy money usually requires considerable time and effort in getting set up, but once set up the ongoing time input is fairly small.

So this means that you need a very different mindset to embark on the journey of lazy money. All wealthy people have learned how to create and incorporate lazy money into their lives.

When you study wealthy individuals they have a number of common traits. So let’s take a look at these characteristics.

1. Growth mindset. Wealthy people have a growth mindset, which allows them to see challenges as opportunities, rather than as obstacles.

2. Improve their education. They spend money to learn skills, they also read lots of books to broaden their knowledge.

3. Multiple streams of income. This is really important to have income from a number of different sources. So that if one source has a downturn there are still others producing. Another way of spreading risk across several strategies.

4. Calculated risk. Most investments involve some risk. Wealthy individuals take some time to assess the risk and the associated opportunity for long term gain, before making a decision.

5. Long term goals. The big picture with long term goals is much more important than short term gains. This usually means a certain amount of patience is required. It is no good for those who always want instant gratification.

6. Leverage. The wealthy have learned the skills of delegating tasks, and utilizing the skills of others around, to achieve their desired end result.

7. Goal setting and visualization. Goal setting is really important. These goals can be short term (< 1 year) or long term (5-10 years). In fact it is best to have a combination of short and long term goals. The short term goals will usually allow for some flexibility to accommodate a changing economic environment. Once you have goals then use visualization to bring them to fruition.

8. Networking. Wealthy people spend time with others who are on the same journey. Cultivating relationships with like minded people will help them grow personally and professionally. This is also a good space for business opportunities.

9. Embracing change. The world is constantly changing, and those with a wealth mindset will adapt and pivot when necessary, to move forward.

10. Financial literacy. Wealthy people study and understand how money works. They acquire knowledge about a variety of investments, they understand the tax system, and they are open to wealth creation strategies. They learn how to manage their money efficiently.

11. Time management. The most important resource we have is time. We can never reclaim the time from the past, it is gone forever. Those who are wealthy value time very highly and use it with intention. They prioritize tasks and delegate lower value activities.

12. Resilience. Resilience is one of the most important characteristics of a wealthy mind set. Resilience is the ability to bounce back after failures or mistakes. Failure is part of moving forward in life. The more failures you have the more opportunities you have to move ahead and achieve greatness.

13. Self-improvement. Wealthy people continually search for opportunities to improve their personal and business lives. They are life-long learners and enjoy pushing their boundaries. They understand that to be wealthy they must continually evolve to higher levels. And importantly they must be happy and enjoy the path they tread.

Ready? Let’s begin.

We’ve already learned that lazy money means making more money per hour in your spare time than you would make at work. So far, so good. The goal is not to make thousands of pounds after a month of hard work, but rather to make a good wad of cash in as short a time as possible. It doesn’t matter if you only make £20 if it only takes ten minutes, right?

We want to make as much money as quickly as possible. So when you begin, be sure to target the easiest, laziest money you can identify.

Where shall we start?

Six Central Pillars of Lazy Money

There are six central ideas to making lazy money. When you first start out, the best way to make easy money is to grab a pen and paper and start thinking about these six key themes.

Let’s go through them together, one by one.

1.Cancel all your pointless subscriptions.

Think about all of the regular payments you make every single month. Write them all down. This can be everything from utility bills, telephone bills, Internet bills, your mobile phone contract, credit card payments… If you pay it regularly, write it down.First things first: what can you ditch? I guarantee that if you think hard enough, your list will contain at least one subscription that makes you say “Oh, I’ve been meaning to cancel that for ages…” Well, today’s your lucky day. This is an amazing way to kick off some long-term money savers.

2. Pay less for the subscriptions you want to keep.

Cancelling stuff you don’t want is easy. But what about the payments you need to keep up? I can’t live without a mobile. And I enjoy my magazine subscription! And my council tax, well… I can’t save anything on that, can I? Of course you can. Some of these can be reduced by making the most of cashback offers while others can be negotiated down (I’ll show you how soon).

3. Make your money work harder for you.

Got savings? Receive a regular salary? Have an overdraft? If you answered “yes” to any of these questions, you can probably earn hundreds every year by making your money work harder for you. Better yet, it will only take an hour or two of your time! I’m not talking about investments; I’m just talking about being smart.My post about making the most of interest rates talks a little further about specific ways to earn lazy money in this way. I’ll continue to blog on this topic in the future.

4. Get paid to get rid of unwanted stuff.

Look around you. I’d bet that there are at least three things in the room you are sitting in that you could sell right now and you’d never really miss them. So what are you waiting for? We’re all sitting on hundreds and hundreds of quids’ worth of stuff that we don’t even want or use, but we don’t find the ten minutes it takes to list it on eBay and the ten minutes it takes to post it.Depending on what you have to sell, this can be a great source of lazy money with a lovely high wage.

5. Save on new purchases.

This one is a corker. By making the most of voucher codes and coupons you can quickly and easily save shed-loads of money on stuff you were already going to buy. Does that sound like the easiest, laziest money of all time, or what?

6. Get things for free!

The sixth pillar is one for those readers who are willing to make a little sacrifice in terms of quality. And frankly, this is often less “lazy” than it appears—you’ve got to have a keen eye to get good free stuff! That said, there are plenty of ways to get things you want for free, and saving all the money you would have spent on all that stuff translates to some pretty lazy income.

If you’ve been playing along, your paper should now be full of scribblings that identify hundreds of pounds of easy, lazy money that you can make right now. Not bad for five minutes of reading!

Putting It Into Practice

You have a list of things to tackle and lazy money to make, but how do you actually get started?

Start by finding the three things you’ve identified that will be quickest to put into action, then find the three things that will earn or save you the most money. Make a new list of those six key actions, ordered by how much effort it’ll be do cross off each item, and see what you fancy!

Don’t feel obliged to go for the biggest winner—sometimes the quick money makers are the best way to kick-start your earning.

As with all things money, you might want to keep track of what you get up to. What did you do this week? How long did it take you? How much did you make from the task? By tracking this information you can quickly figure out what your average lazy money wage is.

If you want to grow your money, you must first learn how to develop a wealth mindset.

I’ve put together some tips for you to get started.

Most people want to be rich, but few will achieve it due to their mindsets. If you don’t have the right mindset, the odds are stacked against you to create (and keep) your wealth. Too many people associate the wealthy with having “more toys.” But, it’s not just about the toys that make someone wealthy. It’s about how they grow money and keep it growing indefinitely.

So let’s get started.

1. Use the power of compounding to your advantage.                                     

Suppose you have several dividend-paying stocks. What do you do when you get your dividend payments? If you answered that you do nothing with them or transfer them to your savings, you are leaving money on the table. Reinvest those dividends so they can grow along with the rest of the investment.

2.  Take a long-term approach to your financial situation.
Don’t get caught up in the game of trying to time the markets. You may succeed on occasion, but the odds are stacked against you. You will give most of those gains back eventually.

3.  Stay above the rate of inflation.
Too many people ignore inflation, largely because it seems abstract to them. However, it’s quite real, and it will erode your savings. If you make a 1.5% annual return on your savings and the inflation rate is 2%, you are down by 0.5% for the year. You must switch your thinking.

4.  Taxes are another overly complicated subject that trip many people.
As such, they ignore the implications of the taxes they end up paying. If you cannot grasp the tax concepts, consider hiring a qualified CPA or tax consultant.

5.  When you reach a respectable sum of money, never spend the principal.
That is the base to generate further wealth. Many people who win the lottery end up broke because they violate this simple rule.

6.  Create a financial plan.
This is a broad concept which is why people have a difficult time creating one. But, when you take the plunge and create a financial plan, you have something to measure. If you are stuck, consider hiring a qualified professional to help you.

7.  Take time to evaluate your investments.
You shouldn’t glue your eyes to a trading terminal on a daily basis. But, you should evaluate your investments periodically. You want to weed the bad investments and make the good investments flourish.

8.  It will be almost impossible to earn respectable gains with your investments when you are heavily in debt.
This doesn’t include your mortgage as that is financed at one of the best rates you will find. Credit card debt and other revolving debt will eliminate your gains. Investing while in debt is also increasing your risk should those investments turn sour.

The following table gives you three steps to start taking action straight away.  These are things you can start doing today.

We all spend money every day. We buy food, drink, clothes, cosmetics, CDs, DVDs, books… we buy all kinds of good stuff. And if you’re anything like me, buying stuff makes you happy. Buying something you really want is a great feeling—especially if you’ve been saving up for it. The only problem with buying stuff is that it costs us so much of our hard-earned cash! Wouldn’t it be good if you could make the same purchases, but get paid for it? It’s be like free money, right?

It turns out that this magical idea—getting paid to spend money—is actually a reality. Let me say that again: you can earn lazy money by spending! In fact, this is a key part of the fifth pillar of lazy money: save on new purchases.

The Idea Behind Cashback and Coupons

Cashback and coupons are two of those things that sounds too good to be true, but it is actually a good deal for both consumers and business. The idea behind it is actually pretty simple!

Businesses advertise, and they spent good money trying to attract new business. The money to pay for this advertising is skimmed off sales, and this little bit of reinvesting can help businesses bring in more customers. It’s a happy cycle for them.

But advertising is expensive. It costs a whole lot of money to put up a billboard, or an advert on telly, or even for pay-per-click advertising online. And how many of the people looking at that billboard, watching that advert, or clicking on the link will ever actually spend their hard-earned cash? This kind of advertising is not just expensive; it can also be pretty inefficient.

For big business, there’s a better way. These days, they can effectively outsource the advertising, get someone else to do the work for them. They offer to pay a set reward for each new customer they get sent, which means that they get sent a whole bunch of new customers and only have to pay for the ones that spend money! In effect, they only pay for the advertising that worked!

Now, at some point, a few smart people came up with an amazing idea: passing on the referral reward to the customer. By offering to give some or all of the referral reward directly to the customers, these smart guys could attract more customers than ever! The traffic they commanded grew massively, so the big businesses gave them even more money.

Customers got paid, referrers got paid, and businesses got new customers! Everyone mades more money, and everyone was happy. Genius. “Cashback” was born.

Now there are loads of websites partnered with thousands of businesses, and virtually everyone offers cashback when you agree to spend your hard earned cash with them.

Congratulations on your decision to start earning lazy money!

By reading this site, you are on your way to picking up a skill that is invaluable. Your first lazy paycheck will be more satisfying than any other money you’ll ever earn! The best thing you can do when it comes to earning lazy money is to start now—and I’m here to make the process as easy and as seamless as possible for you.

I know that there’s a ton of information available to you on the internet about how to earn easy money, however not all of it is specific or easy to understand. I’m breaking everything down for you in an easy to follow, step-by-step process so you can get started as soon as possible. More importantly, I’m putting everything together as one coherent resource.

How to Make Lazy Money

The first thing you should understand is whether you have the right attitude to make lazy money. Some people don’t even care enough about making some cash to get off their ass for five minutes here and ten minutes there.

It would be a shame to go through every guide and tutorial to make easy money and then realize that you don’t care enough to follow through. To get an idea of what’s involved, read my answer to the question of what is lazy money and who can earn it?

Sure you can be bothered? Sure you’re up for the challenge? Ready to make some extra cash with minimal effort? Good.

GET STARTED NOW!