Top 10 Best Money Market Funds In Kenya

January 21, 2024January 18, 2024 by Learners Coach

Money market funds are a popular investment option in Kenya for a reason. They offer many benefits, including liquidity, safety, and the potential to generate income. However, with so many MMFs available on the market, many investors face the challenge of selecting the Best Money Market Funds In Kenya

It’s critical to keep up with the finest investing options as Kenya’s financial scene continues to change. Money market funds are becoming more and more popular in Kenya every day as more individuals look for low-risk, high-return savings options.

Money Market Funds In Kenya

Most MMFs accounts earn members an interest of up to 9 – 11% per annum while only enjoying a 15% withholding tax, which is pretty decent. And when it comes to liquidity, you get to have your money in 1 – 3 days, and you can even withdraw everything.

Below are the Top 10 Best Money Market Funds In Kenya

What is Money Market Fund?

Investments known as money market funds combine the capital of investors and use it to purchase short-term, low-risk debt instruments like Treasury Bills and commercial paper.

These investments are renowned for having a short maturity period—between one month and one year—and for being extremely safe because they put money into low-risk instruments.

Because of this, MMFs are favored by short-term investors as a parking place for savings and emergency funds since the money is both safe and highly liquid, meaning that it can be accessed on short notice.

What To Consider Before Investing in MMF

What would make one MMF better than any other? Here are six things to look out for when selecting an ideal fund:

Management fees – this refers to the cost of investing in an MMF, which goes to the financial professionals who manage the fund’s portfolio of investments.
Ease of withdrawal and cash access – ideally, a good MMF allows you to access your funds easily without extended wait periods or penalties. Some MMFs allow same-day withdrawals through M-Pesa while others take up to 3 or more days.
CMA approval – the Capital Markets Authority is the government body charged with regulating all MMFs in Kenya. All legitimate funds must be registered with this body.
Fund performance – this refers to the MMF’s returns as measured by the interest rate and dividend it pays to its investors.
The minimum investment required – some funds allow for initial investments as low as 500, while others restrict it to amounts as high as 100,000.
Minimum top-up amount – this is the subsequent amount you’re allowed to add after the initial investment. Most MMFs allow top-ups in increments of 1000 although it may be lower or higher, depending on the company.

Benefits of Money Market Funds in Kenya

Now that you know what money market funds are, why should you invest in them? Are they even worth it?

Well, MMFs are worth it because of these benefits:

Interest compounding – Not only do you earn interest on your principal amount (deposits) but also on the interest earned. That’s what compound interest is all about.
Low tax levy – Money Market Funds in Kenya only incur a 15% withholding tax, which is fair given that earned income attracts a tax levy of up to 30%.
Anytime top-up – You can top up your investment at any time and, in most cases, any amount.
Lower fees – Most MMFs don’t charge an initial fee, and you only incur 1.2 – 2% in management fees annually.
Decent return on investment – Depending on the Money Market Fund, the investment attracts an annual yield rate of 8 – 11 %, which is more than most savings accounts offers.
Saving culture – You can use a Money Market Fund account as a savings account for your emergency, land or car deposit, mortgage, family welfare, education, or vacation. It generally promotes a savings culture.
Low risk (safe investment) – Given that the fund managers are CMA-approved and experts in their field, the risk of losing your investment is lower, making Money Market Funds safer.
High liquidity – It usually takes 1 – 3 days to have money in your bank account, depending on the Money Market Fund. That’s how fast the withdrawal process is.
Low investment amount – Some Money Market Funds, such as digitrust, only require a minimum investment of Ksh 500, while most of them average Ksh 1,000, which is affordable for most people.

1. Etica Money Market Fund

Etica Money Market Fund, a product of Etica Capital Limited, comes in first place with an average effective annual yield of 11.17%.

Key features of Etica Money Market Fund are:

Initial minimum investment of KES 100 and Top-ups of KES 100.
Daily compounding of interest then credited daily to clients’ accounts – you are able to see your money grow on a day-to-day basis.
No lock-in period.
High liquidity

2. Cytonn Money Market Fund

One of Kenya’s best-performing money market funds on a constant basis has been Cytonn. It is best suited for investors seeking stability and financial security who have a low tolerance for risk because it primarily invests in short-term debt instruments. The yearly administration fee is about 1.5%, and there is no upfront cost. Better yet, there is no minimum top-up requirement and just a Ksh 1,000 initial investment.

More features of Cytonn MMF include:

Speedy withdrawals,
Interest is earned daily and compounded monthly,
No entry or exit fee is charged,
Easy mobile sign-up by dialing *809#

3. Apollo Money Market Fund

The Apollo MMF is another low-risk money market fund by APA Insurance that invests in high-yielding investment instruments like treasury bills, government bonds, commercial papers, fixed deposits, and corporate bonds.

Key features of the Apollo MMF include:

Initial minimum investment of KES 1,000 and KES 1,000 top-ups,
Top-ups can be made by cheques, cash deposits, standing orders and direct debit orders.
Invests in low-risk investments with an element of guaranteed returns such as fixed deposits, T-bills, commercial paper, government and corporate bonds

4. Enwealth Money Market Fund

The Enwealth Money Market Fund is offered by Enwealth Financial Services, whose mission is economic empowerment in the country, and they plan to do that through inventive financial solutions.

While Enwealth is new in the country, they continue registering impressive numbers to show they are here to stay and take over the unit trust sector.

5. GenAfrica Money Market Fund

One of the highest-yielding money market funds is the GenAfrica Money Market Fund, which is offered by GenAfrica Asset Managers. GenAfrica caters to low-risk clients that are looking for high liquidity, assets that generate monthly income, and capital preservation. In that case, taking the chance is worthwhile.

Key features of GenAfrica MMF include:

No limitations on withdrawal,
No initial fees,
Monthly statement updates via email,
Easy sign-up and top-up via the GenAfrica Unit Trust portal.

6. Madison Money Market Fund

The Madison Money Market Fund has a higher minimum investment of 5,000. However, it offers some notable benefits and features to its investors. The fund charges no entry or exit fees. This means no additional costs are incurred whether you want to join or leave the fund.

Some of the key features of the Madison Money Market Fund include:

Initial minimum investment of KES 5,000 and KES 1,000 top-ups,
Monthly distribution of interest,
Withdrawals are processed within 72 working hours,
No restrictions on tenor.

7. Jubilee Money Market Fund

The Jubilee Money Market Fund is a product by Jubilee Insurance that targets low-risk investors looking for an investment with competitive returns, monthly income, and capital preservation.

The minimum initial investment amount is Ksh 5,000, while the minimum top-ups after that is only Ksh 1,000. But just like other money market fund products, the Jubilee fund is subject to a 15% withholding tax.

8. Kuza Money Market Fund

Retaining eighth place is Kuza Money Market Fund, which posted an average effective annual return rate of 10.16%. The initial minimum investment for new investors is KES 5,000 and subsequent KES 1,000 top-ups.

Other features of Kuza Money Market Fund include:

High liquidity,
Preservation of capital,
Fund invests in short-term KES-dominated interest-bearing securities such as T-bills, corporate bonds, commercial paper, bank call and fixed deposits.

9. Sanlam Money Market Fund

The Sanlam MMF is a low-risk fund with a minimum initial requirement of KES 2,500. It invests in high-quality, interest-bearing assets (like treasury bills) within the Kenyan market, making it safe for investors looking for a reliable income source.

Setting up an account is free, so you’ll only need the minimum required investment to get started. Any top-ups after that have to be in multiples of KES 1,000, which can be done either through MPESA or a bank account.

10. Old Mutual Money Market Fund

Old Mutual Money Market Fund moved five positions lower, compared to May, to secure eleventh place with average annual yield rate of 9.88%. You will need an initial investment of KES 1,000 and KES 1,000 subsequent top-ups.

More on Old Mutual MMF:

Easy liquidity,
Capital stability,
Provides return without penalties,
Funds invested in T-bills, corporate notes, bank fixed deposits, and bank call deposits,
Freedom to switch investments between different funds,
Quick mobile sign-up by dialing *480#

Conclusion

Because money market funds have appealing interest rates, they’re a terrific alternative to typical savings accounts. Additionally, they are adaptable, enabling you to quickly and simply withdraw your money whenever you need it.

Because they can earn interest rates over inflation and still have immediate access to their money, this makes them perfect for short-term investors searching for a place to park their assets.

Top 10 Best Shipping Agents From China To Kenya

December 21, 2023December 21, 2023 by Learners Coach

In this article we will focus on the Top 10 Best Shipping Agents From China To Kenya that you can consider using just in case you want to move goods or cargo from China to Kenya, either by sea or any other relevant means available.

China and Kenya are important trade partners with Kenya being one of the biggest African markets for products from China. A lot of goods are imported from China on almost a daily basis.

Best Shipping Agents From China To Kenya

It can be challenging to make an informed decision, particularly if you are shipping to Kenya from China for the first time, given the proliferation of shipping businesses that assist Kenyans in exporting goods from China.

Which shipping firm is currently offering the best rates from China to Kenya?

Well, there are quite a number of excellent Cargo shippers from China to Kenya – and a good number can handle big loads

Find out which shipping company is the Best Shipping Agents From China To Kenya by reading this article. You can also find out about other shipping firms that are available for use at any time.

1. DFH Logistics

DFH Logistics provides an array of freight services that ensure timely dispatch of goods between Kenya and China. They offer services such as pickup and delivery, free warehouse and distribution, container loading supervision service, cargo insurance, custom insurance, customs clearance, competitive freight and professional documentation.

They will pick the cargo from your given address and transport it to the port of your choice for its onward shipment. They can pick from any factory or warehouse situated in China and deliver to the nearest port or where you instruct us to deliver the goods.

2. Nurex Cargo

Nurex Cargo offers air freight, sea freight, road transport, multi-modal freight, pick up and delivery services from various worldwide destinations to Kenya.

3. Golden Gate Cargo Services Ltd

Golden Gate Cargo Services Ltd., incorporated in Kenya in 2007, is a logistic services company with its head office in Nairobi and branches in Mombasa and Eldoret. Our sea freight services include; Less Container Load (LCL) shipments and Full Container (FCL) shipments.

The company offers cargo logistics solutions, clearing and forwarding of all types of cargo, local transportation and goods delivery services. With over 20 years of experience in clearing and forwarding all kinds of cargo including household items, mercantile and diplomatic mails, and contract cargo from all over the world to Kenya at very competitive rates, we’ve succeeded in clearing and forwarding all sorts of air and sea cargo.

4. Rolling Cargo

Rolling Cargo is an established international air and sea freight forwarder with over 15 successful years of trusted and verified expertise.

With the backing of 200 experienced and professionally trained staff and the excellent relationship with carriers, customs, terminals, and other local authorities. They offer a wide range of air and sea freight services to Kenya, with a primary focus on reliability and communication that our customers can depend upon.

5. Aquantuo

With their global logistics network, they provide reliable transportation solutions to your destination. Theye handle everything from customs clearance to documentation for safe, on-time delivery.

Aquantuo has offices in the US, UK, Canada, China, Dubai, Ghana, Kenya, Uganda, Rwanda, Nigeria, Zambia, DRC, and Tanzania, supported by a global network of affiliates. Whether you’re based locally or internationally, They’re committed to providing you with exceptional service and support.

6. Air Cargo Global

Air Cargo Global started off with one office in the UK and have since opened offices in the US, Kenya, Somalia, Turkey, Italy, China and South Korea. They provide fast, secure, cost-effective and custom services for all your personal and commercial cargo needs to any destination in the world.

This is made possible by utilising their vast logistics network, backed up by a team of highly experienced professionals who are dedicated to providing you with superior services.

7. Salihiya Cargo and Shipping Agency

Salihiya Cargo and Shipping Agency is a freight forwarder with headquarters in Kenya. Their specialty is provision of Air and Sea freight from around the world to Kenya, Uganda and Tanzania.

They operate full charter flights on a weekly basis from Dubai to Eldoret International Airport, Kenya and sea freight to the port town of Mombasa.

8. Basenton Logistics

Basenton Logistics are a company that provides professional and perfect international logistics service and also deal with a wide ranges of freight forwarding services. Basenton has rich experience to operate the shipping goods from China to Mombasa or any other cities in Kenya

Their high quality services are not only limited to import and shipping from China to Kenya but also extends to pick up, documentation, packaging, loading, unloading, customer clearance, warehousing, consolidating and many more.

9. Bansar

Bansar has rich experience to operate the shipping goods from China to Mombasa or any other cities in Kenya, Besides the good service and competitive rates, Bansar can assist shipper to provide the COC certificate to the importer to finish the customs clearance successfully.

Bansar can also provide very competitive ocean freight to their customer, and can get the stable space from shipping line company, especially with COSCO, CMA, besides these, many mix shipping goods loading in the container, they can do the customs clearance professionally in China.

10. Afrigate Cargo & Clearing Services Limited

Founded in 2015, Afrigate Cargo and Clearing Services Limited have been one of the trusted cargo companies in Kenya. It is because of their pure commitment, excellent support, and quality services that make them the top choice in the shipping industry.

The company is a logistics solutions provider for all your air and sea freight needs from China to Kenya. They organise weekly flights, offer free warehousing and free delivery right at your doorstep.

Guidebook To Successful Investing in Stock Market

November 18, 2023November 18, 2023 by Learners Coach

Guidebook To Successful Investing in Stock Market provides you with all the knowledge you need in order to make your first stock investment. You are going to learn about many beginner, intermediate and advanced concepts and topics about investing in the stock market. Get familiar with all the actions you need to take before getting started with investing, what to do while investing and how to have a successful investment journey.

Investing in the stock market can be an intimidating prospect for many people, but with the right guidance and knowledge, anyone can become a successful investor.

Guidebook To Successful Investing in Stock market is a comprehensive guidebook that takes you through every step of the investing process, from understanding the basics of the stock market to building a diversified investment portfolio.

Successful Investing in Stock Market

The guidebook is filled with numerous practical examples and illustrations helping you easily understand even the most hard-to-grasp concepts. By the end you will be ready to start with investing, be able to conduct research and analysis on your own and make investment decisions completely by yourself.

Condensed into only 76 pages, this guidebook is easy to read, beginner-friendly and becomes immediately available to you in a digital format.

Purchase the Guidebook To Successful Investing in Stock Market and develop the skills to get started with making money through stock investing and enable yourself to become financially free. Start with little, watch your profits compound into larger gains, achieve passive income and enjoy the journey

Guidebook To Successful Investing in Stock Market

The guidebook covers a wide range of topics, including the importance of setting investment goals, how to conduct research on potential investments, how to evaluate financial statements and ratios, and how to manage risk in your portfolio.

1. Why Is It Important To Invest?

Have you ever wondered why people want to invest their money in the first place? Through practical explanations you will learn what inflation is, how it affects your money and you are going to see some comparisons between saving and investing your money

2. What You Should Do Before Investing

Many beginners make the mistake of jumping head-first into investing before knowing the basics, gaining the proper perspective, setting some goals and creating a plan. This chapter will teach you about everything you need to know as well as what to do before staring to invest

3. Time, Risk And Return

Did you know that risk and return go hand-in-hand? Do you want to know how they are correlated and how time also plays a role when it comes to investing? Compare how different time frames of investing can impact your investment plan

4. Stock Market

Before learning about stocks, it’s quite important to know about the stock market, what it is and how it operates. This chapter covers all you need to know about the stock market, types of stock trading markets, stock exchanges, stock indices as well as brokers

5. Securities

Have you ever heard of securities and what they are? Did you know that stocks fall under the category of securities? In this chapter you will get acquainted with what stocks are, how they are created, why they exist and how they are registered and offered for trading on the stock exchanges

6. Why Do Stock Prices Go Up And Down?

If you are interested in buying or trading stocks then you must surely wonder what comprises their value and why their prices move in a certain direction. Your goal is making money through stock investing and this is the chapter where you are going to learn how to do that. Find out more about how the profits compound over time and some important rules of investing

7. Reading Stock Charts And Stock Statistics

Along the way of your investing journey, while performing research about some stocks or needing to check its price, you are bound to stumble upon a stock price chart. Apart from learning to read the stock charts, which is an essential skill, you are also going to learn about many other stock indicators as well as analyzing stock data and statistics. Find out more in depth about dividends and dividend yields

8. Growth And Value Stocks

Stocks have many ways and attributes they are divided by and in this chapter we are going to look at growth and value stocks. Knowing more about the stock types and their common categorizations can open up a new perspective for you while analyzing which stocks to invest in

9. Stock Splits

Stocks may sometimes reach a level where their price is too high or too low, after which a stock split usually happens. Learn about the different types of stocks, what stock splits are and when they occur. Get acquainted with fractional shares and penny stocks

10. Stock Analysis Methods

When it comes to making an investment decision, you must be strongly convinced you are making the right one. After all, you are entrusting a company or a business with your money. After reading this chapter you will become familiar with some commonly used stock analysis methods, how to use them, when to use them and how you can combine them

11. Bull And Bear Market

Did you know that the stock market goes through these so-called market cycles or periods of price trends, which may be longer periods of stock price declines or long periods of stock price increases? Interestingly enough, these cycles have a name – they are called bull and bear markets. Learn why investing can be emotionally challenging during these periods and how you can overcome those challenges

12. Investment Strategies

You may already have a plan and you may have a goal, however what about a strategy? A strategy needs to be set in place in order to set a structure for your plan, which if executed correctly and consistently, will lead to you accomplishing your goal. There exist various investing strategies, in this chapter you will explore which one is the most suitable for you

13. Stock Market Events And Timing The Market

Here’s one very popular quote among stock market investors – “Time in the market beats timing the market”. What do you think it means? Find out in this chapter. Learn about how the stock market can move in sudden and unexpected ways on particular occasions and what is this a consequence of

14. The Influence Of Social Media On The Investing Community

Whether you are aware and whether you like it or not, social media plays a large role in the investing community due to many people promoting investing on many platforms. You should keep in mind that a considerable part of those people not always have the best intentions in mind. Discover how you can stay more vigilant in this chapter

15. Buying Stocks

You made it! You learned everything you had to before making your first investment. Now what? Now comes the final step – actually purchasing and trading stocks. Get familiar with how and where you are able to do this

Benefits of this Guidebook

One of the key benefits of the Road to Successful Investing is that it is written in a clear and accessible style, making it easy for even novice investors to understand. The guidebook is designed to be a practical tool that you can refer to again and again as you build your investment portfolio.

Another benefit of the guidebook is that it provides a roadmap for building a diversified investment portfolio. Diversification is essential for reducing risk and maximizing returns, and the guidebook provides a step-by-step process for building a portfolio that is well-balanced and aligned with your investment goals.

In addition to the written guidebook, the Road to Successful Investing also includes a range of supplementary resources, including worksheets, checklists, and video tutorials. These resources are designed to help you apply the principles and strategies covered in the guidebook to your own investment strategy.

Conclusion

Ready to take control of your investment strategy and achieve success in the stock market? Don’t wait any longer — purchase the Road to Successful Investing guidebook today! With clear, practical guidance and a range of supplementary resources, this guidebook is the ultimate tool for anyone looking to become a successful investor.

Order now and start building the investment portfolio of your dreams!

How To Identify Genuine Suppliers in China

October 27, 2023October 27, 2023 by OnlineBizz Buddy

Do you want to purchase goods from China, and you want to find out how to determine a true Chinese supplier without going to China? Search no more, this article have tips on how to Identify genuine suppliers in China and will help you escape fraudsters.

With the many suppliers in China, it requires a clever move when choosing any of the firms to procure goods from.

How To Identify Genuine Suppliers in China

When searching for genuine suppliers in China, trust and reliabily are the peak influencers. All the products purchsed should be of the best quality and at the right prices. Some suppliers compromise on quality, raise the price to unrealistic ranges or even both.

The following tips should act as a guide on how to Identify genuine suppliers in China

1. Contact the Supplier

When searching for genuine suppliers in China, trust and reliability are the peak influencers. All the products purchased should be of the best quality and at the right prices. Some suppliers compromise on quality, raise the price to unrealistic ranges or even both.

The following tips should act as a guide on how to Identify genuine suppliers in China

2. Check business Licenses/Permits

Every legitimate business in China needs to register with the government, and each one is assigned a special company registration number. You only need to go to the website of the local administrative government or get in touch with the Bureau of Industry and Commerce in China to confirm this registration number.

You should not do business with a supplier if they are unwilling to provide you with this registration number.

3. Ask for References

Ask for their previous customer’s records and also ask for the supplier’s bank reference letters. If the supplier does not have references, it is a sign he or she may not be true.

4. Check Ecommerce Sites For More Information

Visit their website, read over their policies, and confirm that their actual address and phone number are listed there. Next, type “company name+ scam” or “company name+ dishonest” into your search engine of choice, such as Google, Bing, or Yahoo.

Previous customers’ complaints are visible on the internet and can be traced back to them. In the event that complaints exist, the supplier might not be legitimate.

You can utilize Aliexpress or Alibaba checks, which provide suppliers with information such as start date, number of employees, factory ownership, sales, and brand names, to verify businesses and make life easier. B2B also offers verification services. This is really useful, and locating a specific Chinese provider is a cinch.

5. Don't Be Quick To Pay

Attempt to convince the supplier that payment will be made upon delivery of the products to their address by your local agent in China. They can be scammers if they don’t permit it, but if they do, they are highly legitimate. Avoid sending money through untraceable means as well.

Legitimate suppliers primarily employ Western Union, PayPal, Bank Transfer, and Money Gram as payment methods.

6. Do Background Checks

You can turn to a third party agent to give you a report on the supplier’s information like some shareholders, financial reports for the last three years, business scope, etc. This information will help you know if he/she is legit or not.

How To Find Reliable Shipping Agent in China

A reliable shipping Agent should understand all the markets in China and should provide genuine information when you need it. It is also their responsibility to have reliable channels, through which you can purchase the goods.

The following tips should act as a guide on how to find a reliable Shipping Agent in China

1. Years of Experience

The length of time the agency has been in business establishes the range of items and markets for which they have useful resources and information.

A ten-year track record in the shipping industry is sufficient to ensure the firm’s ability to deliver, albeit the company should demonstrate a reasonable rate of growth over time. This includes the total number of regular customers that the particular business has on file.

2. Payment Terms

The terms of payment are also crucial if you want the agency to purchase the products and arrange for shipping. In the realm of finance, any agency that requests more than 50% of the total upfront payment may be indicating that it does not have enough capital to operate the business.

It is a reasonable agreement where both parties have room for commitment and trust when you pay a reasonable 30% of the entire cost up front and the remaining amount when you get and confirm the items.

3. Product and Market Information

There are instances when you could want a certain product but are confused by the pricing and packaging. This is typically the point at which people ask themselves, “How can I find a reliable Shipping Agent in China?”

The shipping agent needs to be well-informed on the brands, their unique selling points, and the wholesale and retail price guidelines. Depending on your goals and tastes, this aids in helping you choose wisely between the brands.

4. Shipment Requirements

Ultimately, a competent shipping agent is more knowledgeable about China’s customs and duty regulations than you, the customer. This implies that the agency needs to provide a detailed plan outlining the least amount of work required to get the items to you. Fair and reasonable fees should always be charged.

How To Make Money Online With Your Phone

October 17, 2023October 17, 2023 by OnlineBizz Buddy

Making money online with your smartphone has gotten a lot simpler. There are several ways on How To Make Money Online With Your Phone to make additional money, all of which are available. Using your smartphone to top off your bank account could be the perfect solution. We’ll go through some of the best ways To Make Money Online With Your Phone.

How To Make Money Online With Your Phone

Your smartphone can help you generate extra revenue if you’re looking for side hustle ideas. There are numerous options to make quick money or win gift cards and other forms of prizes using many apps, including gig apps on your phone, whether you only have a few minutes or a few hours.

1. Get Paid for Just Walking

Most of us walk a lot already – whether it’s taking a stroll with our dog or just commuting to the office.

An efficient app called Sweatcoin may turn each step you take into “sweat coins.” The coins cannot be transferred to your bank account, but they can be saved and used to purchase products and services. Rewards might be anything from headphones and electronics to audiobooks and athletic gear.

2. Affiliate Marketing via Social Media

The popularity of social media influencers and bloggers has made affiliate marketing a viable source of income. You can make money by marketing goods and services on your blogs and social media pages using affiliate links that are specifically designed for that purpose.

You may track your revenue and performance using mobile versions of apps like Amazon Associates, ShareASale, and CJ Affiliate. Genuine recommendations and consistency in content development can help you gradually increase your affiliate income.

3. Sell Your Photos

Your phone most likely has a powerful camera built-in that’s capable of taking high-quality images.

It’s time to start using a website like Shutterstock to monetize your images. Create a Shutterstock account and upload a collection of images for inspection.

Once you’re approved, you can get paid whenever a website uses your work. A excellent approach to make money with photos is through Shutterstock.

Foap is another photographer community that enables photographers to sell images to brands for private use. Download Foap, submit pictures, and get paid for your work.

4. Be a User Testing Participant

Brands are interested in hearing what consumers think about their goods and services. Additionally, some of them will pay you for your opinions.

A company called UserTesting assists brands in obtaining this crucial input so they can keep improving their products.

According to the website, participants can earn $4 USD for a 5-minute user test and $10 for a 20-minute user test. For live interviews, you can earn anywhere from $30 to $120.

To sign up, you’ll need to answer some screening questions so that UserTesting can match you up with relevant products and services to test out.

5. Become a Freelancer

Numerous platforms provide mobile apps so freelancers may stay in touch with clients. Freelancing is a flexible approach to make money. You may offer services in a variety of fields, from writing and graphic design to voice-over and technical chores, using apps like Upwork, Fiverr, and Freelancer.

By setting up a profile, you can start bidding for projects, communicate with clients, and get paid directly through the app. Moreover, it offers a flexible working schedule, allowing you to accept projects based on your availability and expertise.

6. Manage a Shopify Store From Your Phone

Did you know you can manage an ecommerce store from the palm of your hand? That’s right — Shopify offers a mobile app that lets you access everything required to manage your store from your phone.

The Shopify app may be used to add products, manage inventory, complete orders, compare sales channels, communicate with customers, and even control revenue levels.

The Shopify mobile app allows you to manage your day-to-day store operations while you’re on the road, even though you might first need to set up your store on a desktop.

7. Participate in Competitions and Contests

Many applications hold contests, quizzes, and tournaments with cash or gift cards as prizes. Users can take part in daily or weekly quizzes using apps like HQ Trivia or Qureka, answering questions in real-time, and receiving rewards for correct answers.

Regular participation can boost your chances of winning and provide an amusing respite even though it may not be a reliable source of revenue.

8. Downloading Survey Apps

Taking paid surveys may be the best choice for you if you want to earn money while expressing your opinions. Many market research firms will pay you to do online surveys using Survey Junkie or other apps.

You can make money by just completing surveys and responding to survey questions on a variety of subjects, such as user testing and product testing. You get points after completing surveys, which you may exchange for gift cards and PayPal cash. Using legitimate paid surveys is essential for ensuring your safety.

9. Earn Rewards for Playing Games

The market for smartphone apps currently has thousands of games available. There are some apps available that can help you make money while having fun, however the majority will only give you a method to pass the time.

For instance, the software Mistplay allows you to receive incentives for playing games on your phone.

Units (MistPlay’s in-app currency) are earned by playing and leveling up in games on MistPlay. Then you may exchange Units for gift cards to retailers like Best Buy, Amazon, and iTunes.

10. Watching Videos for Extra Cash

You can watch videos to make extra money if you have a few minutes to spare and want to make a few dollars. You may earn money for watching movies with free programs like FusionCash, ClipClaps, and Swagbucks. Through these apps, users can earn bonuses and incentives that can be exchanged for cash and gift cards.

11. Sell Old Textbooks

Nothing compares to the satisfaction of finishing college knowing that you won’t have to read that textbook again and that you might be able to sell it online.

BookScouter is one app that can make this happen. Just download the free app, browse more than thirty buyback merchants, and assess seller feedback and prices. The company will then compensate you when you ship the goods for free. It is that simple.

Your textbooks are worth a lot of money. It’s far preferable to throwing them in the trash or letting them rot on your bookshelves. Visit BookScouter to get started making money right away.