Smart ways to build your finances from home

With global concern surrounding the COVID-19 ‘Coronavirus’ forcing many to stay inside their homes and self-isolate, certain markets have taken an expected hit financially, and productivity in some areas will have come to a complete stand still. However, despite these restrictions that have been put in place for the foreseeable, there are still numerous different ways to passively build up an income, and make the most of your time at home by trying out some different side hustles; monetising your passions in order to bring in a little bit of extra cash.

Looking to spend your time indoors productively, and perhaps build up your finances from home? Here are some different ideas to consider.

Building a positive home office

Making sure you have a competent workspace at home is one of the first things that you should think about, as it will help you to feel a lot more productive. If you’re lucky enough to be in the position where you can work from home and continue to effectively manage your workflow on time, then you should start by trying as best you can to replicate your office environment, so that you can stay productive and free from distraction when working remotely.

For working collaboratively with colleagues (or even just for contacting relatives and loved ones when you can’t visit face to face), you should also ensure that you have the right software installed on your computer, with video chat apps such as Skype or Google Hangouts available so that you communicate in the best ways possible. A stable enough internet connection is often needed for these sorts of programmes, which a lot of us are lucky enough to have, but if you’re struggling perhaps try and move your work area closer to the router in your home and see if this helps.

Investment

Again, with the usage of technology, investment is still very much possible from the comfort of your own home, and in fact it’s the way that many passive entrepreneurs and investors handle their financial portfolio anyway, in their spare time. If you want to get involved, you could start by downloading a risk-free app on your smartphone or computer, or even by taking a look at one of the many different available resources.

One great example of how investment markets are continuing to stay active is with property investment, and virtual reality. RWinvest, for example, a property investment company with developments throughout the north west of the UK in booming cities such as Liverpool and Manchester, utilise VR technology in order to provide ‘virtual viewings’ to potential investors. Investors can enjoy an immersive look at their property without leaving the comfort of their home; those without the cheaply available technology can access it by just downloading the file onto their smartphones, too.

This method is one that has been previously used anyway, in order to allow international investors and those that are too far away to access a property, and view it as authentically they can. Having this level of detail as opposed to just the traditional CGI imagery and blueprints allows for added peace of mind, and is a massive help (and hurdle overcome) in the investment process.

Freelance work

Most freelancers work from home and don’t stick to the regular 9-to-5 way of life anyway, and so many who choose to operate in this way, they shouldn’t be affected too much by the change in schedule. If you have a passion for writing, for example, or have a digital skill such as graphic design or programming, you can use websites like UpWork and Freelancer to put yourself out there to anyone that needs your help.

Again, using writing as a specific example, there are a range of different ways that you can make money. Blogging is an excellent way to pass the time (while building up a portfolio online), and if you have a specific thing that you’re knowledgeable and want to write about, you could even consider writing an e-book. There are a ton of self-publishing tools, even through Amazon directly, and you’ll make a little bit of money every time someone buys your hard work and gives it a read.