10 Genius Investing Hacks For 2024 That Are Proven To Work!

I'm Nolan Mathias and these are 10 genius money-making hacks I learned from YouTube. Let's start with number one, the sharing economy. Sharing your car, sharing your home, sharing your motorhome, sharing pretty much anything that has a marketplace to be shared. Now, I'm going to admit I was skeptical about the prospects of sharing anything for money. First of all, I didn't really want to share my stuff. I'm an only child, so I in general just don't want people touching my stuff. I don't want somebody else using my car or my motorhome, which I don't have because those things are ridiculously expensive to own, and I certainly don't want somebody living in my home when I'm not there. And to be honest, I was pretty skeptical of the prospects of actually being able to make money on things like Turo, but that was until my buddy Brandon Qubit, who by the way runs a really cool YouTube channel called New9Golf. If you're into that sort of thing, I'll link it right here. He and his wife started renting out their vehicle on Turo in the summer. Now, this was convenient for them because they lived near an airport, which meant it was easy for them to drop the vehicle off, and it created minor inconveniences when they only had one vehicle. However, they found out quickly that the amount of money that they were making by renting their vehicle out, which by the way was an SUV, which made it very popular on the car rental sites, was more than enough money to be able to use another sharing service, Uber, to get to wherever they needed to go when one of their vehicles was rented out. And during the high tourist seasons in the area, they were able to make bank. In fact, they made so much money off of renting out their vehicle that they were able to purchase another vehicle, bringing their grand total number of vehicles to three for a two-person family. And that allowed them to always have two vehicles that were available to be rented on the app. And more often than not, they ended up having two vehicles to use whenever they needed to. But by having two different types of SUVs, they also found themselves in the very enviable position of always having an enticing offer on the app. And without going into the exact details of how much money they were making, I can tell you that it was significant. And it pretty much paid for them to have brand new vehicles whenever they wanted without taking it out of their actual income, which I thought was pretty cool. Now, a couple of key things here, especially if you're looking at renting out your vehicle, always make sure that you have desirable options to put on those apps. So things like SUVs are going to be more popular than cars and make sure that you're pricing it well, because if you share things like your vehicle or your motorhome or your home and you're at below market prices, that actually gives you a pretty good opportunity to be more selective about the people you're renting to because you don't always have to agree to rent to everybody. So if you're below market rents and that creates more demand, it allows you to look at the ratings of the people who are going to rent from you to make sure that they're good actors. The second genius money making hack I learned from YouTube was to make a list of your strengths. And this actually leads into both number two and number three with respect to how to make more money. Because once you've made a list of your personal strengths, like for me, it's making these videos and talking about business and money. For you, it might be something like cooking or doing graphic design or writing. But once you know your strengths, you can actually find a market where people are willing to pay for them. So, for example, let's say you're a really good cook. Well, there's a couple of things that you could do here. You could create educational content around cooking. I know one creator, for example, who makes sourdough bread videos and makes a quarter million dollars a year off of her courses on how to do that. And obviously, during the pandemic, that was incredibly popular. Or you could also make meals for your friends and your family. Now, you have to be careful here about offering to make meals for people that you don't know, because obviously there's health issues with respect to that. But maybe you have some friends that don't like to cook and wouldn't mind having some extra meals in their refrigerator or their freezer that they can just heat up and they might be willing to pay you a little bit extra over and above the groceries in order to do that. So selling a service of something that you are exceptional at is a really good way to make extra money. And just to give you a couple other ideas here, maybe you're a good handyman and you're good at fixing things. You can sell that type of service. Maybe you're exceptional at getting a house sparkling clean. Well, you can sell that type of service and so on and so on. Now, let's say your strengths aren't so much in the physical side of doing things, but more on the intellectual side of things. So maybe you're a great graphic designer or a great artist or you've got experience in running businesses or accounting or any other number of things that take a little bit of expertise. Well, you can create educational content around that, like I said, which can be a really great way to earn extra money. Now, you can do this both online or you can do this in person. And regardless of which you choose, if you have something that you are really, really good at that most people aren't, there are people that are willing to pay you to learn how to do it. And this can be as simple, for example, as putting together a group of people to learn how to taste wine. If that's something you're good at, figure out what the cost of the bottles of wine will be. Add on an extra fifteen or twenty dollars per person and you've got a pretty good little side hustle. Oh, and by the way, this is the type of thing that business people and companies who sell things love creating an experience for a group of people that is both unique and educational. So, for example, call up your local neighborhood realtors and suggest they put together a wine tasting for a group of their clients and then educate them on that thing that, you know, really well. And by the way, if you're selling these type of educational experiences to businesses, you can actually charge more for them. Now, the fourth genius money hack I learned off of YouTube is all about flipping furniture. And believe it or not, I actually tried this. Whoops, I wasn't supposed to let that out of the bag. That's a future video. Well, I guess if you want to see it, you should probably subscribe. And I actually found some really great information on this on YouTube. I found some videos where guys talk about flipping couches. They go and they buy couches, clean them up and sell them for more. Now, the practicality of that one doesn't make a ton of sense to me because couches are usually dirty, usually damaged and usually not very easy to flip for any sort of money. Plus, they're really heavy and they are hard to store, which makes them impractical from a flipping standpoint. Now, that being said, some people have claimed to make up to twenty thousand dollars a month by doing this. But I found some even better ideas on a channel called Furniture Flipping Teacher. Now, I do not know this person at all, but she makes some phenomenal videos on how to find furniture often for free, refinish it and sell it for more money. And even though this takes a little bit of work and a little bit of elbow grease, the profits that they make are unreal. And unlike couches, a piece of wood furniture, for example, is a lot easier to clean up. It is definitely a lot easier to bring back to like new or even better. And in general, they're typically a lot lighter than a massive couch. So it means that you can move it and store it a heck of a lot easier. And by the way, this is exactly what I'm doing in my future video with a whole bunch of items that, by the way, I got totally for free. And I'm going to tell you right now you're going to be blown away by the amount of money I was able to make. The fifth genius money making hack I learned from YouTube is really cool and really genius. And while it's not necessarily about making more money, it is incredibly intelligent because saving money is often just as good as making extra money. And this was actually a grocery shopping hack that is absolutely brilliant. The hack is to limit all of your trips to the grocery store to only buying three items that are on sale. Now, here's the catch. You can buy an unlimited amount of those items if they are on sale, but you can only buy three. And what this does is it makes it so every time you go to the grocery store, you're saving 30, 40, 50 percent on the things that you're buying. Now, granted, you're probably going to need a freezer in order to be able to do this. But buying in bulk and getting a huge discount is a genius idea, because let's say that you're spending a thousand dollars a month on food and you switch to this technique and you can save 30 or 40 percent. Well, that's three hundred to four hundred dollars every single month that you'll be able to save. And the additional added benefit to this is you prevent yourself from picking up extra things and sticking them in the cart, which runs up the tab pretty fast. Now, obviously, this is going to be a challenge for the first three or four visits because you're going to have to choose your items wisely. But once you get your meat and your canned goods and probably your frozen vegetables all stocked up for two or three months ahead of schedule, you're going to be laughing and you'll be laughing all the way to the bank who says you can't beat inflation anyways. By the way, that was my favorite money making hack of all of these, because it isn't even a money making hack, but it's done with after tax dollars. So the returns are even bigger than any money that you would ever invest in the stock market or anything else. Genius money making hack number six is one that seems obvious, but I recently found a couple of videos that dug even deeper into this and put some things into perspective that I never even thought about. And this one is all about selling things that you already own, because let's call a spade a spade here. We've all done it. We've all bought things with good intentions, thinking that we are definitely going to use it over time. And we end up having it just sit on a shelf or getting stuck in the basement and never actually use those items. Well, it's time to dig in, go find all of those things and get rid of them. And there's a couple of really cool hacks to do this. First is you can sell clothing, both on things like Facebook marketplace and at your local thrift stores. Now, this is something that I never thought to do. I just wore my clothes until they wore out or until I hadn't worn them for such a long time that I ended up donating them. But it turns out that you can sell your clothing to thrift stores that support charities. And by doing this, you're able to both get a little bit of extra money into your pocket to support your clothing habit and also do something for a good cause. And if you've noticed, there's that sign back there, it says thrive and give. Well, to me, this is really important because my why in life is to inspire people to thrive and to give. And when you're selling your clothes for charity, well, you get to do both. And likely my favorite and most brilliant of all the hacks when it comes to selling the things that you already own is to take a whole bunch of small things, pile them together, take a picture, stick them on Facebook marketplace or Craigslist or Kijiji, whatever you have in your area and put a price on it for the whole lot. So in order to get one thing, they have to take everything. And there might be one thing in that pile of electronics that you've got that they absolutely want. But in order to get it, they're going to have to pay for all of it and make a little bit of extra money off of it. Genius money making hack number seven is house hacking. Now, this isn't in the way that you think, because when it comes to house hacking, most people think of Airbnb and renting out rooms, which is not only a nightmare to manage, but is also really risky because you never know who's going to be coming into your home. But in this type of house hacking, instead of renting out rooms short term, you rent them out for the long term. You find roommates that hopefully you know long before you invite them to live with you or you rent out a basement suite in the house or and this one is really genius. You rent out your garage because what most people don't realize is that there is a ton of people out there looking to store things. And if you're willing to park your car outside or you don't have a car, renting out your garage can actually be very, very profitable. And the added benefit is you don't have to have somebody who lives with you. Instead, you just have somebody who shows up every once in a while to pick up something out of storage. And in a lot of cases, they rarely show up at all, except when it comes time to pick up all the stuff that they've been storing in your garage for the last six months and that they've paid you twelve or fifteen hundred dollars to do. Genius money making hack number eight is to freelance. Now, this is different from selling services and education like we talked about in number two. This is actually taking the job that you have and getting permission from your employer to moonlight. So in other words, work on evenings and weekends in that same type of job for another company. And in the age of remote working, this is actually a brilliant idea because you can do in a lot of cases jobs for companies that are outside of your area that don't compete with the one that you work for. In fact, I recently had some legal work done on one of my companies and the law office that I was using was using a paralegal that during the day worked in one law office and in the evenings and on the weekends did extra work for the law office that I was dealing with in order to make a little bit of extra income. And the best part of this was this paralegal was brilliant, which meant I was getting the benefit of having somebody work on my stuff that also during the day worked for another law office. And she was getting the benefit of making considerable bank because paralegals usually make pretty decent money, especially when they're freelancing. Oh, and by the way, the best companies to freelance for are often small one or two person shops. So if you're an accountant or a paralegal and you want to freelance, go and find a company that doesn't have enough work for a full time employee, but who could use a part timer like you in order to get the job done. Genius money making hack number nine is to get gig work from your friends and family. Now we all know somebody who has something that they hate to do and would probably be willing to pay for somebody else to do it. Maybe you've got a really messy friend or somebody who doesn't want to mow their lawn or shovel their walks. Well, you can offer to do those jobs for them. And because those are things that they hate doing and because they know you and probably love you, if they're friends or family, they're probably willing to pay you a little bit of extra in order to do the job, which means you can probably do more for them than by going out and doing gig work for strangers. And genius hack number 10. This one's the best. This one has the most potential for you to make more money is to just hustle, baby. Set a goal for how much extra income you want to make. Think about that goal every single day and your subconscious will find a way to make it happen. And if you want to double down on this, you can write affirmations daily. And if you set a goal that you don't think is possible, try writing affirmations, something like I enjoy earning an extra thousand dollars every single month. Write that down 25 times a day for 30 days. And within 30 days, you not only will believe that you can do it, but your mind will find ways for you to accomplish it. That little voice at the beginning that says you'll never be able to do that. Eventually, it turns into a little voice that goes, hey, Nolan, I found a way. And the one thing to keep in mind here is the bigger the goal you set, the bigger the payoff. And if you're committed to the goal that you set, you will, without a doubt, find a way to do it. But you got to be committed and you got to be relentless in pursuit of that goal. Oh, and if you want to see another video on 100 genius money hacks that I learned from YouTube that includes things like paying off debt and investing, make sure you check out this video right here.