“Life is either a daring adventure or nothing at all.”
– Helen Keller
While most of us will never reach the summit of Mount Everest, the fact of the matter is that we all love to travel from time to time. Modern society and work responsibilities have caused many to believe that wanderlust is nothing more than a far-off possibility.
However, there are still many ways to travel and earn a bit of extra cash during your journeys.
As opposed to listing common options such as teaching English abroad or signing up for paid online surveys, let’s do away with the fluff and examine the reasons why online investing can provide you with an ample secondary income.
Your Choices, Your Schedule and Your Finances
A study undertaken as far back as 2013 found that 73 per cent of individuals desired more employment flexibility. This is one of the primary appeals of online investing. You are able to dictate your own hours, the preferred assets and how much capital you wish to trade.
In other words, you can now become your own boss even while away from the traditional office. It should never be forgotten that tidy profits could be only a single click away.
The Rise of the Virtual Mobile Application
The most profound change associated with online investing involves the nearly ubiquitous presence of 3G and 4G connectivity. In fact, it has been shown that more than 75 per cent of all countries within the developed world offer reliable 3G connections.
A growing number of major cities such as Paris, Barcelona and Prague are also supporting 4G speeds and this trend is expected to increase. As you can imagine, choosing the right trading app for your needs will help your chances!
Having said, this, you will need to develop a sound strategy. Analyse the available sectors and assets in order to determine which ones suit your requirements. In terms of travelling, it is best to select those which involve quick turnaround times and automatic executions.
Examples include digital 100 trading, CFDs, spread bets and Forex positions.
You will also need to set aside a block of time that is free from distractions. As this can sometimes be challenging while on a plane or train, it is best to access the CMC Markets trading platform when you can be assured of a solid connection (such as in a hotel lobby or a public square with free WiFi).
You chances of creating a substantial side hustle will be vastly improved if you have a game plan in place from the beginning.
Setting Your Goals and Sticking to Them
Earning extra money while travelling also involves a fair amount of discipline and planning. Avoid being distracted by local attractions or excursions when you are online. Take into account factors such as travel fees, accommodations and exchange rates.
You may even be able to take advantage of disparate exchange rates by trading in certain types of currency. Above all, keep an open mind and never be afraid to think outside of the box.
Earning a bit of much-needed liquidity while on the move is now very much a reality. Choosing the right trading platform and adopting the correct mindset are both keys to your ultimate success.