Understanding Mortgage Amortization
When you take out a mortgage, you will be required to pay back the loan over a set period of time, typically 15 or 30 years. The amount you owe each month is determined by a process called amortization.
Amortization is the process of spreading out the payments for a loan over the life of the loan. This means that each payment you make will consist of both principal and interest. In the early years of your mortgage, the majority of your payment will go towards paying off the interest, with only a small portion going towards the principal. As you continue to make payments, the amount going towards the principal will increase, while the amount going towards interest will decrease.
To better understand how mortgage amortization works, consider the following example. Let’s say you take out a 30-year mortgage for $200,000 at a fixed interest rate of 4%. Your monthly payment would be $955. If you were to look at the breakdown of your payment, you would see that in the first year, only $2,965 of your payments would go towards paying off the principal, while $7,292 would go towards paying off the interest.
It’s important to note that the amortization schedule for your mortgage will be provided to you by your lender. This schedule will show you how much of each payment goes towards the principal and how much goes towards interest each month. By understanding how mortgage amortization works, you can make more informed decisions about paying off your mortgage early.
Should You Pay Your House Off Early With Extra Principal Payments?
One of the most effective ways to pay off a house early is by making extra principal payments. This means paying more than the minimum required amount each month towards the principal balance of the loan and there are several strategies you can use.
Monthly Extra Payment
Making a monthly extra payment is a great way to pay off a house early. By adding a small amount to your monthly mortgage payment, you can reduce the principal balance and save thousands of dollars in interest over the life of the loan.
For example, if you have a 30-year mortgage with a balance of $200,000 and an interest rate of 4%, adding just $100 to your monthly mortgage payment can save you over $30,000 in interest and help you pay off your mortgage 6 years early.
Lump Sum Payments
Another way to pay off a house early is by making lump sum payments. This means making a large payment towards the principal balance of the loan.
Lump sum payments can come from various sources such as tax refunds, bonuses, or inheritance. By applying these funds towards the principal balance of the loan, you can reduce the amount of interest you pay over the life of the loan and pay off your mortgage faster.
Biweekly Payment Plans
A biweekly payment plan is another effective way to pay off a house early. Instead of making one monthly payment, you make half of your mortgage payment every two weeks.
By making biweekly payments, you end up making 26 half payments per year, which is equivalent to 13 full payments. This extra payment each year can help you pay off your mortgage faster and save thousands of dollars in interest.
In conclusion, making extra principal payments is a great way to pay off a house early. Whether it’s a monthly extra payment, lump sum payments, or a biweekly payment plan, every little bit helps reduce the principal balance and save money on interest.
Refinancing Your Mortgage
Refinancing a mortgage is a great way to pay off a house early. It involves taking out a new loan to pay off the existing mortgage, with better terms and a lower interest rate. This can save homeowners thousands of dollars in interest over the life of the loan.
Lowering Interest Rates
One of the main reasons to refinance a mortgage is to lower the interest rate. This can be done by shopping around for a lender that offers a lower rate than the current mortgage. A lower interest rate means lower monthly payments, which can help homeowners pay off their mortgage faster.
Shortening Loan Term
Another way to pay off a house early through refinancing is to shorten the loan term. This means taking out a new mortgage with a shorter repayment period, such as 15 years instead of 30 years. While this may result in higher monthly payments, it can save homeowners a significant amount of money in interest over the life of the loan.
Overall, refinancing a mortgage can be a smart strategy for paying off a house early. Homeowners should consider their options carefully and work with a reputable lender to find the best terms and rates for their situation.
Budget Adjustments for Mortgage Acceleration
Paying off a mortgage early can be an excellent financial goal for anyone who wants to save money on interest payments and own their home outright. One way to achieve this goal is by making budget adjustments to free up extra money to put towards the mortgage. Here are a few ways to make budget adjustments for mortgage acceleration:
Cutting Unnecessary Expenses
Cutting back on unnecessary expenses is a great way to free up extra money to put towards the mortgage. It’s essential to take a close look at monthly expenses and determine where money can be saved. For instance, eating out less, canceling subscriptions, and reducing energy bills can all help save money. By cutting back on expenses, homeowners can put extra money towards their mortgage payments and pay off their mortgage faster.
Increasing Income
Another way to make budget adjustments for mortgage acceleration is by increasing income. Homeowners can consider taking on a part-time job, freelancing, or selling items they no longer need. By increasing income, homeowners can put extra money towards their mortgage payments and pay off their mortgage faster.
In conclusion, making budget adjustments is an effective way to pay off a mortgage early. By cutting back on unnecessary expenses and increasing income, homeowners can free up extra money to put towards their mortgage payments and achieve their financial goals.
Debt Snowball Method
One popular method for paying off a house early is the debt snowball method. This method involves paying off debts in order of smallest to largest, regardless of interest rates.
To use the debt snowball method, start by listing all of your debts from smallest to largest. Then, make minimum payments on all debts except the smallest one. Put as much extra money as you can towards paying off the smallest debt. Once the smallest debt is paid off, take the money you were putting towards that debt and add it to the minimum payment for the next smallest debt.
This method can be effective because it provides a sense of accomplishment and motivation as each debt is paid off. Additionally, by focusing on paying off smaller debts first, you can free up more money to put towards larger debts later on.
It’s important to note that while the debt snowball method may not be the most mathematically efficient way to pay off debt, it can be a helpful tool for those who need motivation and a clear plan to pay off their debts.
Home Equity Line of Credit (HELOC) Strategy
Another strategy to pay off a mortgage early is through a Home Equity Line of Credit (HELOC). A HELOC is a revolving line of credit that allows homeowners to borrow against the equity they have in their homes. The interest rates on HELOCs are generally lower than those of credit cards or personal loans, making them an attractive option for those looking to pay off their mortgage early.
To use a HELOC to pay off a mortgage early, homeowners can follow these steps:
- Apply for a HELOC: Homeowners can apply for a HELOC through their bank or credit union. The amount of the HELOC will depend on the equity in the home and the borrower’s credit score.
- Use the HELOC to pay off the mortgage: Once the HELOC is approved, homeowners can use the funds to pay off their mortgage. This will effectively transfer the debt from the mortgage to the HELOC.
- Pay off the HELOC: Homeowners can then focus on paying off the HELOC as quickly as possible. Since the interest rates on HELOCs are usually lower than those of mortgages, homeowners can save money on interest by paying off the HELOC first.
- Repeat the process: Once the HELOC is paid off, homeowners can repeat the process by applying for another HELOC and using it to pay off the remaining mortgage balance.
It is important to note that using a HELOC to pay off a mortgage early can be risky. If homeowners are unable to make the payments on the HELOC, they could risk losing their home. Additionally, HELOCs often come with variable interest rates, which can increase over time, making them more expensive to pay off.
Overall, a HELOC can be a useful tool for homeowners looking to pay off their mortgage early. However, it is important to carefully consider the risks and benefits before deciding to use this strategy.
Mortgage Offset Accounts
One way to pay off your mortgage early is by using a mortgage offset account. This is a savings account linked to your mortgage, and the balance in the account is offset against your outstanding mortgage balance.
For example, if you have a mortgage of $300,000 and a savings balance of $50,000 in your offset account, you will only pay interest on $250,000 of your mortgage. This can help you save thousands of dollars in interest charges over the life of your mortgage.
Mortgage offset accounts are often offered by banks and other financial institutions, and they may have different features and fees. Some accounts may have a monthly or annual fee, while others may offer additional benefits such as free transactions and a higher interest rate on your savings balance.
It’s important to compare different mortgage offset accounts and choose one that suits your needs and budget. You should also consider the interest rate on your mortgage and the interest rate on your savings balance, as well as any fees and charges associated with the account.
Overall, a mortgage offset account can be a useful tool for paying off your mortgage early, as it allows you to reduce the amount of interest you pay and potentially save money in the long run.
Investment vs. Mortgage Payoff Analysis
When considering paying off a mortgage early, it is important to weigh the benefits of investing the extra money instead. While paying off a mortgage early can provide peace of mind and reduce overall debt, investing can potentially yield higher returns.
One way to analyze this decision is to compare the interest rate on the mortgage to the expected rate of return on an investment. If the mortgage interest rate is higher than the expected rate of return on the investment, it may be more beneficial to pay off the mortgage early. However, if the expected rate of return on the investment is higher than the mortgage interest rate, it may be more advantageous to invest the extra money.
It is important to note that investing always carries a level of risk, and there is no guarantee of returns. On the other hand, paying off a mortgage early provides a guaranteed return by reducing the amount of interest paid over the life of the loan.
Another factor to consider is the tax implications of each option. Mortgage interest payments are tax-deductible, meaning that paying off the mortgage early may result in a higher tax bill. On the other hand, investment earnings may be subject to taxes, reducing the overall return.
Ultimately, the decision to pay off a mortgage early or invest the extra money is a personal one that depends on individual circumstances and goals. It is important to carefully consider the pros and cons of each option and consult with a financial advisor before making a decision.
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Frequently Asked Questions
What strategies can I use to pay off my mortgage more quickly?
There are several strategies you can use to pay off your mortgage more quickly. One common method is to make extra payments toward your principal balance. You can also consider refinancing your mortgage to a shorter term or making biweekly payments instead of monthly payments.
Are there any drawbacks to paying off my mortgage ahead of schedule?
While paying off your mortgage early can save you money on interest, there are some potential drawbacks to consider. For example, you may miss out on potential investment opportunities if you put all of your extra money toward your mortgage. Additionally, you may face prepayment penalties or other fees for paying off your mortgage early.
What are the financial implications of making additional payments on my mortgage?
Making additional payments on your mortgage can have significant financial implications. By paying down your principal balance more quickly, you can save money on interest over the life of your loan. However, you should also consider the opportunity cost of using that money to pay off your mortgage rather than investing it elsewhere.
How can I calculate the impact of extra payments on my mortgage payoff timeline?
There are several online calculators and tools you can use to calculate the impact of extra payments on your mortgage payoff timeline. These tools can help you determine how much you can save in interest and how quickly you can pay off your mortgage by making additional payments.
What methods are considered most effective for reducing mortgage debt rapidly?
The most effective methods for reducing mortgage debt rapidly vary depending on your individual financial situation. However, making extra payments toward your principal balance, refinancing to a shorter term, and making biweekly payments are all common strategies that can help you pay off your mortgage more quickly.
Is it more advantageous to focus on paying off my mortgage or investing my extra money?
The answer to this question depends on your individual financial goals and situation. While paying off your mortgage early can save you money on interest, investing your extra money in a diversified portfolio can potentially earn you a higher return. It’s important to consider both options and weigh the potential benefits and drawbacks before making a decision.
9 Free Side Hustles That ACTUALLY Work & Earn Money In 2024
If you’re looking to start a side hustle and make some extra money, you’re in luck. There are plenty of free side hustles you can start today that can earn you anywhere from $1,000 to $10,000 or more per month. And the best part? You can start them all for free.
One popular side hustle is creating faceless mobile videos. These videos are becoming increasingly popular on platforms like YouTube, Instagram, and TikTok, and can earn you hundreds or even thousands of dollars a day. Another option is training AI, which involves completing simple tasks to help AI companies improve their apps. Other free side hustles include Pinterest affiliate marketing, virtual assistant work, starting an Etsy digital product or print-on-demand store, Facebook Marketplace dropshipping, and participating in user research studies.
Faceless Mobile Videos
YouTube, Instagram, TikTok Monetization
If you are looking for a side hustle that requires no investment, then faceless mobile videos might be the perfect option for you. This side hustle has become quite popular on YouTube recently, with many people earning hundreds to thousands of dollars a day. The most popular type of faceless video is creating videos without showing your face, which you can then post on Instagram, TikTok, and YouTube shorts. By doing so, you can make money from video ads and affiliate commissions.
For instance, a YouTuber posted a tutorial on how he made a basic TikTok video where he talked about an AI app over a free Minecraft video that he downloaded from YouTube. He then put an affiliate link to that app in his bio and made $150 from affiliate commissions. There are many ways to monetize your videos on these platforms, and you can explore various options.
Affiliate Commissions
Affiliate marketing is a popular way to make money online, and you can use it in conjunction with faceless mobile videos. You can pin cute photos on Pinterest, which then link to blog posts that have affiliate links in them. By registering for affiliate programs such as Amazon, you can earn commissions when people buy products using your affiliate link. The free version of chat GPT is perfect for helping to write and edit blog posts. You can also set up a free blog on blogger.com if you don’t want to have to pay to host a website and blog yourself.
AI Tools for Content Creation
Thanks to AI, you can now start the faceless mobile video side hustle for free. You can use Cat GPT’s free version to help generate and edit video scripts and use a 11 labs to generate a free AI voice-over. You can get free stock videos and pictures from pixels and from pixabay, and you can use SS YouTube to download YouTube videos. The video editing app Cap Cut is also free and can help you create your videos.
Overall, faceless mobile videos can be a lucrative side hustle that requires no investment. You can use various AI tools to create your content and monetize it using affiliate commissions and video ads.
Training AI
Data Annotation Tasks
AI companies are now paying people to complete simple basic tasks such as correctly identifying people in photos and maps so that they can then train their AI apps on the starter to make them smarter and more efficient. One free website where you can register to do this and get paid is RemoTasks, and another free website is Data Annotation. Using these websites, users on Reddit have been earning anywhere from $20 to $40 per hour, which is pretty impressive.
RemoTasks and Data Annotation Platforms
RemoTasks and Data Annotation are free websites where you can register to complete data annotation tasks and get paid. With these platforms, you can help AI companies train their apps by performing simple tasks like identifying objects in images and transcribing audio. These tasks are essential for improving the accuracy of AI systems, and the pay is quite good. Users on Reddit have reported earning anywhere from $20 to $40 per hour, depending on the task. These platforms are easy to use, and the tasks are straightforward, so anyone can do it.
Pinterest Affiliate Marketing
Affiliate Marketing Strategy
Affiliate marketing is a popular side hustle that can help you earn money by promoting products and services. The strategy is simple: you create content that includes affiliate links, and when someone clicks on the link and makes a purchase, you earn a commission. One platform that is perfect for affiliate marketing is Pinterest.
Amazon Affiliate Program
To get started with Pinterest affiliate marketing, you need to sign up for an affiliate program. One of the most popular affiliate programs is the Amazon Affiliate Program. It is free to sign up, and once you are approved, you can start promoting Amazon products on Pinterest. When someone clicks on your affiliate link and makes a purchase on Amazon, you earn a commission.
Content Creation with AI
Creating high-quality content for Pinterest can be time-consuming, but with the help of AI, you can streamline the process. You can use Cat GPT’s free version to help generate and edit video scripts, and you can use 11 labs to generate a free AI voice over. You can also get free stock videos and pictures from Pixabay and Pixels. To edit your videos, you can use the video editing app CapCut, which is also free.
Overall, Pinterest affiliate marketing is a great way to earn money online. By following the affiliate marketing strategy, signing up for the Amazon Affiliate Program, and using AI to create content, you can start earning commissions from your Pinterest pins.
Virtual Assistant
Admin Work Services
If you’re looking for a side hustle that involves doing admin work, becoming a virtual assistant might be perfect for you. As a virtual assistant, you can do a variety of tasks such as social media management, basic bookkeeping, customer service, or internet research, in exchange for cash.
To get started, you can sign up with virtual assistant websites such as Blay Solutions and Fancy Hands if you live in the USA, or Ver Talent if you live in the UK. These websites automatically pair you with clients that need virtual assistance, so you don’t have to do any marketing of yourself.
Client Acquisition Platforms
If you’re interested in starting a virtual assistant business, you might want to consider using client acquisition platforms. These platforms allow you to find clients who are looking for virtual assistants.
One such platform is Upwork, which is a global freelancing platform where businesses and independent professionals connect and collaborate remotely. You can create a profile on Upwork and bid on projects that match your skills. Another platform is Fiverr, which is a marketplace for freelancers to offer their services.
Both of these platforms are free to sign up for, and you can start bidding on projects right away. However, keep in mind that you may need to pay a commission fee to the platform for each project you complete.
Overall, becoming a virtual assistant can be a great way to earn extra income on the side. With the right skills and dedication, you can build a successful virtual assistant business and achieve your financial goals.
Etsy Digital Product Store
Popular Digital Products
Etsy is a popular platform for selling digital products, including Canva templates, wedding invitation templates, and digital planners. Digital posters are also in high demand, and many sellers have made significant profits from selling them. For instance, Allura, a popular Etsy store, has made almost $660,000 from digital posters, and the store’s digital posters have made over $23,000 this month alone. Even if you are not an artist or graphic designer, you can still create digital products using free stock photos and editing tools such as Pixabay and Photoshop.
Creating Digital Products with Free Tools
Creating digital products is easy and affordable with free tools such as Canva and Pixabay. You can start an Etsy store with 40 free item listings on YY, and use Canva to design and create products. Additionally, you can use free photos and pictures from Pixabay and Pixels.
To create digital planners, you can use free editing tools such as Cat GPT and 11 Labs. You can also generate and edit video scripts for faceless mobile videos using Cat GPT’s free version. You can generate a free AI voiceover using 11 Labs. You can download YouTube videos using SS YouTube, and edit videos using the free app Cap Cut.
In conclusion, Etsy is a great platform to sell digital products, and with free tools and resources, you can easily create and sell your own digital products.
Etsy Print On Demand Store
Selling Custom Merchandise
Etsy is a popular online marketplace where people can buy and sell handmade, vintage, and unique items. One of the most profitable ways to make money on Etsy is by selling custom merchandise through a print on demand store. Print on demand allows sellers to create designs for products such as t-shirts, mugs, and phone cases, and then have them printed and shipped to customers on demand. This means that sellers don’t have to hold inventory or worry about shipping products themselves.
Printify Integration
One of the most popular print on demand services that integrates with Etsy is Printify. Printify allows sellers to choose from a variety of products and printing partners, and then create and upload designs to be printed on those products. Once a product is sold, Printify handles the printing and shipping, and the seller receives a portion of the profits. Printify also offers a free plan with up to five product listings, making it a great option for those just starting out.
Passive Income Potential
Starting an Etsy print on demand store has the potential to create a passive income stream. Once designs are uploaded and products are listed, sellers can continue to earn money without actively promoting their store. By creating unique and trendy designs, sellers can attract a loyal customer base and continue to earn income from their store. With the right strategies and tactics, it is possible to earn thousands of dollars per month from an Etsy print on demand store.
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Facebook Marketplace Dropshipping
Product Sourcing and Listing
Facebook Marketplace Dropshipping is a side hustle that involves finding products on other websites such as eBay and listing them for sale on Facebook Marketplace. The goal is to make a profit by selling the products for a higher price than what you paid for them. To get started, you need to find a product that is in demand and has a good profit margin. You can use tools like Terapeak to research the demand and pricing of products. Once you find a product, you can list it on Facebook Marketplace and set a price that is higher than what you paid for it. When a customer buys the product, you can purchase it from the original seller and have it shipped directly to the customer.
Price Arbitrage Strategy
The key to success in Facebook Marketplace Dropshipping is to use a price arbitrage strategy. This involves finding products that are priced lower on one platform and listing them for a higher price on another platform. For example, if you find a product on eBay that is selling for $100, you can list it on Facebook Marketplace for $150. When a customer buys the product, you can purchase it from eBay for $100 and have it shipped directly to the customer. The $50 difference is your profit.
It is important to note that this side hustle requires a good understanding of the market and the ability to find products that are in demand. You also need to be able to manage your listings and orders efficiently. However, with the right strategies and tools, Facebook Marketplace Dropshipping can be a profitable side hustle that requires little to no investment.
User Research Studies
Participating in Research Missions
One way to earn some extra cash is by participating in user research studies. These studies involve providing feedback on products or services to help companies improve their offerings.
D Scout is a free website that pays individuals for participating in research studies, which they call missions. These missions can range from testing a new app to providing feedback on a new product. The payment for each mission varies, but users on Reddit have reported earning anywhere from $20 to $40 per hour.
Another website where you can register to participate in research studies is Remo tasks. This website pays individuals to complete simple tasks such as identifying people in photos and maps to help train AI apps.
Participating in these research missions is a great way to earn some extra money in your free time. Plus, it can be interesting to try out new products and provide feedback to help companies improve their offerings.
7 SaaS Ideas To Build in 2024
As the new year approaches, you may be looking for fresh ideas to kickstart your business. In this article, we’ll be discussing seven SAS ideas that you can start building in the new year, along with a bonus eighth idea that you may not have considered before. We found these ideas through various platforms such as Reddit, Twitter, and ClickUp forums, and we’ll be linking them in the description below.
Our list includes client portals for Wix, a support ticket system for ClickUp, an architecture plans review tool, an in-person event venue setup planner, version control for no code, automated testing for no code applications, and low setup product analytics. These ideas address pain points in various industries and offer opportunities for entrepreneurs to create step one or step two businesses.
Key Takeaways
- Consider building a client portal for Wix or a support ticket system for ClickUp
- Explore the potential of an architecture plans review tool or an in-person event venue setup planner
- Look into developing version control for no code, automated testing for no code applications, or low setup product analytics.
Idea 1: Client Portals for Wix
One of the SAS ideas that you can consider building in the new year is client portals for Wix. This idea was found on Reddit, where a freelance and full-time agency art director expressed interest in setting up a client portal or hub on their Wix site that allows clients to access files, folders, submit project requests, receive invoices, and send payments with their own individual logins.
While CRM services like Salesforce and HubSpot may be too expensive for this purpose, a client portal for Wix could be a great step one business idea. You can explore if such a tool already exists, its quality, and ratings. Alternatively, you can build a plugin that works well enough to cater to this demand.
Consider the potential market pull for this idea and how you can create a streamlined tool that does exactly what is needed at a lower cost than the bigger players in the market. With the increasing need for remote work and digital collaboration, this idea has the potential to attract many clients.
Idea 2: Support Ticket System for ClickUp
One of the SAS business ideas that you can consider for the new year is creating a support ticket system for ClickUp. ClickUp is a project management tool that does not have a native support ticket system. As a result, users have been requesting for a solution for the past five years. In fact, there is a 5-year-old feature request on the ClickUp forums with 2500 upvotes, where users are asking for a solution. Although ClickUp has offered a pseudo solution, it is not satisfactory for many users. Therefore, there is a lot of market pull for someone to create a great step one business in this area.
However, it is important to note that this idea carries a lot of platform risk. Therefore, it is something that you should carefully consider before starting. If you are interested in building a step one or step two business in an existing ecosystem or App Store, you can head to microf.com marketplaces to get a big list of places you can check out.
To summarize, creating a support ticket system for ClickUp can be a great business idea for the new year. However, it is important to carefully consider the platform risk before starting.
Idea 3: Architecture Plans Review Tool
If you’re in the architecture industry, you may have encountered the challenge of finding a streamlined tool for digital drawing reviews. While there are software suites like Bluebeam available, they may be too expensive for small firms with simpler needs. That’s where an architecture plans review and commenting tool comes in.
This tool would function like Frame.io for architectural drawings, allowing for easy digital reviews and comments. Normal pen and highlighting tools, with the occasional text box, would be used to mark up drawings.
While there are other tools on the market that can perform similar functions, a streamlined and affordable solution would be highly valuable to small firms. If you’re considering building a step one business, this could be a great option to explore.
Idea 4: In-Person Event Venue Setup Planner
One interesting SAS idea that you could consider building is an in-person event venue setup planner. This idea comes from Nugget.one, and it involves creating an app that could be used by rental performance venues to communicate with rental customers regarding the setup they desire for the stage and the venue upon their arrival.
Often, what customers ask for isn’t sufficient for their actual needs, or they were picturing something different in their heads, or the rental performance venue was picturing something different based on their knowledge and equipment. With an in-person event venue setup planner app, rental performance venues could front-load the app with the amount, types, and capacities of equipment available to rent, everything from sound shells to a dance floor to the number of chairs, risers, microphone spotlights, coordinated with the amount of time and personnel it would take to accomplish each setup.
Customers could then drag and drop items onto a diagram of the stage, allowing the rental performance venue to have a visual of exactly how they want chairs, risers, and microphones placed. This would save the rental performance venue a lot of time and, therefore, a lot of person-hours and money. Furthermore, the app could store certain companies or renters that rent often from the rental performance venue, so everyone in the shop would know what they want even if they hadn’t worked with the customer before.
Overall, an in-person event venue setup planner could be a great SAS idea to explore, especially if you have experience in the event planning or rental performance venue industry.
Idea 5: Version Control for No Code
In the world of no code and low code, version control is a pain point that many users are facing. JB Jeff on Twitter requested a version control system for low code SAS apps that can be embedded as UI plugins into other SAS apps. This version control system should allow users to view history, set versions, create branches, collaborate with others, initiate rollbacks, and have web hooks for integrations.
While it is unclear whether this idea is feasible or how difficult it would be to build, it is clear that there is a need for version control in the no code and low code ecosystem.
Automated testing for no code and low code applications is also a pain point that needs to be addressed. In the world of code, there are various types of tests such as unit tests, integration tests, and system tests. However, no code and low code platforms have not yet solved this problem. It is up to either the no code platforms themselves or independent developers to create a plugin that can solve this issue for their users.
In conclusion, version control and automated testing are two areas that need to be addressed in the no code and low code ecosystem. These pain points provide an opportunity for developers to create plugins that can solve these issues for their users.
Idea 6: Automated Testing for No Code Applications
No Code and Low Code platforms have become increasingly popular in recent years, allowing users to create applications without needing to write code. However, one issue that has yet to be fully addressed is the lack of automated testing for these applications.
Automated testing is an essential part of the software development process, helping to ensure that applications are functioning properly and free of errors. Without automated testing, applications are more likely to break and introduce bugs as they are changed over time.
As a developer, you have an opportunity to solve this problem by building a plugin that provides automated testing for No Code and Low Code applications. By creating a tool that can perform unit tests, integration tests, and system tests, you can help users ensure that their applications are functioning properly and free of errors.
While No Code and Low Code platforms have not yet solved this problem, you have the chance to be the one to do so. By building a plugin that provides automated testing for these applications, you can help users create more reliable and stable applications, and position yourself as a leader in this growing market.
Idea 7: Low Setup Product Analytics
Nick Swan, the founder of seotesting.com, suggests creating a product analytics tool that requires no consultant to set up and run. The idea is to install a JavaScript snippet that tracks all page visits and actions taken. The final event you want to happen, such as a subscription, is then identified, and the tool tells you the common pages, actions used, and visited to help you figure out what actions successful users take to see value in your tool.
This low setup product analytics tool is a great idea for startups and small businesses that don’t have the budget for expensive analytics consultants. By providing an easy-to-use solution, businesses can better understand their users and improve their product offerings.
To summarize, Idea 7 suggests creating a low setup product analytics tool that requires no consultant to set up and run. This tool can help businesses better understand their users and improve their product offerings.
Bonus Idea: HTML to Email Screenshot API
Have you ever thought of an API that allows you to post a payload of HTML, a device type, and a target app and it returns a screenshot of that HTML rendered as an email on that device in that app? This is the eighth bonus idea that we have for you.
This idea comes from Justin Duke on Twitter, and it reminds us a bit of Litmus, which is a tool that allows you to view emails and even web pages. With this API, you could take it a step further and get a screenshot of how your email would look on a specific device and app.
This could be useful for email marketers who want to ensure that their emails look great on all devices and apps. It could also be useful for developers who are building email-related applications.
Overall, this is a unique and innovative idea that could have a lot of potential. If you’re interested in building this, you could start by researching similar tools and APIs that are currently available and see how you could improve upon them.
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Final Thoughts and Resources
In this article, we have presented seven SAS ideas that you could start building in the new year, and an eighth bonus idea. We found these ideas on various public forums like Reddit and Twitter, and we have linked them up in the description below.
Here is a summary of the seven SAS ideas:
- Client Portals for Wix: A freelance and full-time agency art director on Reddit requested a client portal or hub on their Wix site that allows clients to access files, folders, submit project requests, receive invoices, and send payments with their own individual logins. This could be a great step one business idea.
- Support Ticket System for ClickUp: ClickUp doesn’t have a native support ticket system, and there’s a 5-year-old feature request with 2500 upvotes with their users basically begging for a solution. This could be a great step one business, although it would have a lot of platform risk.
- Architecture Plans Review and Commenting Tool: A Reddit user requested an alternative to larger enterprise software suites like Blue Beam for digital drawing reviews for check prints, squad checks, shop drawing reviews, etc. This could be a great opportunity to build a streamlined tool that does exactly this and undercut one of these bigger players.
- In-Person Event Venue Setup Planner: A stagehand at a rental performance venue on Reddit requested an app that could be front-loaded with the amount, types, and capacities of equipment available to rent, coordinated with the amount of time and personnel it would take to accomplish each setup. Customers could drag and drop items onto a diagram of their stage. This would save a lot of time and money.
- Version Control for No Code: JB Jeff on Twitter requested version control for low code SAS apps in the form of UI plugins that can be embedded into other SAS apps. This is a great idea that could solve a pain point for many people.
- Automated Testing for No Code: No code and low code have not solved the issue of brittle code yet. Someone will, and it could be an indie developer who builds a plugin and solves this for their users.
- Low Setup Product Analytics: Nick Swan on Twitter requested a product analytics tool that you don’t need a consultant to set up and run. It tracks all page visits and all actions taken, and you tell it the final event you want to happen, for example, a subscription than you page. It tells you the common pages, SL actions used and visited so that you can figure out what actions successful users take to see value in your tool.
We hope these ideas have inspired you to start building your next SAS business. Remember to do your research and validate your ideas before investing too much time and money into them. Good luck!
Best Side Hustles to Start in 2024
Are you looking for ways to make extra cash on the side? Look no further than these 25 side hustles that you can start today! In this article, we will be ranking these side hustles from S tier to F tier, based on their earning potential and ease of getting started.
From taking surveys and reviewing apps to being an AI consultant and flipping storage units, we’ve got a variety of side hustles for you to explore. Keep reading to find out which ones made it to the top of our list and how you can get started earning extra income today.
Key Takeaways
- Explore various side hustles to find one that suits your skills and interests.
- Consider the earning potential and ease of getting started when ranking side hustles.
- Look for opportunities to earn passive income through affiliate marketing and print-on-demand products.
Ranking Side Hustles
S Tier: AI PRP Consultant
If you are knowledgeable about artificial intelligence and its applications, you can offer your services as an AI PRP consultant. You can easily charge $50 to $100 per job, and it’s becoming more and more necessary because people need other people to teach them how to properly use these tools. Many people don’t know how to interact with an artificial intelligence to extract the value, so having a consultant can make life so much better for the customers. You need someone who can guide the AI into the right direction because you would think with chat GPT the best way to make money would be to use the AI to generate more money, but still, the best money is selling your knowledge to other people. The sky’s the limit, and now is the time to jump in on AI businesses and AI side hustles.
A Tier: Amazon Anonymous Influencer
Being an Amazon Anonymous Influencer is a form of affiliate income. You can upload reviews with videos onto Amazon, and anytime someone watches your video and then buys the product, you earn a commission. It can really pay out in passive income if you get this going and you have a big catalog of products that you reviewed. You can use videos that are just of the products or like voiceovers that don’t have your face. I’m going to give it an A tier opportunity.
B Tier: User Testing, Grid Space Mixer, VIP Kids, Storage Unit Flipping, Print On Demand Canvases
User Testing
User testing is a platform that lets you review apps and websites in order to get your user experience. On average, you can make anywhere from $10 to $60 per test that you take, and they take about 20 minutes on average to complete. If you have any experience with technology or you know certain coding languages, you’re going to qualify for more of these tests. I’m going to give it a B tier.
Grid Space Mixer
Grid Space Mixer is a website that’s all about AI and language learning models. They give people real people these prompts, but it’s a real conversation. You can make about $20 per hour doing this side hustle, and it’s not very consistent. They only have these sessions a couple of times a month, but it’s so fun. I’m going to give it a B tier.
VIP Kids
VIP Kids is a website that connects native English speakers with people across the world who want to get better at their English. You’re looking at $14 per hour all the way up to $22 per hour, which is really good. But the downside to VIP Kids is that the hours are much stricter. You have to set a schedule, and you cannot miss those set dates and times because you get penalized. One more small downside is VIP Kids recommends you have 2 years of coaching, teaching, or mentoring experience. I’m going to give it a B tier because it does pay better than Camp does.
Storage Unit Flipping
Storage unit flippers buy storage units off of other people that just can’t handle emptying their storage unit. People want to get storage units off their hands sometimes, so you could buy storage units that are full of just stuff, and that’s where the money is made is flipping the items that actually do have value on Facebook Marketplace and Craigslist and other marketplaces like that. You could have a lot of bad luck, you can get multiple storage units with just trash, and you probably will need a truck, and there’s also a lot of labor involved. I’m going to give it a B tier.
Print On Demand Canvases
Selling print on demand canvases on either Etsy or on Amazon is a good opportunity. I see a lot more opportunity selling this type of product compared to doing a print on demand t-shirt or hoodie.
C Tier: Prolific, Cambly, Virtual Assistant, Amazon Mechanical Turk
Prolific
Prolific is a website to take surveys and it’s much better than Amazon. You can expect to make anywhere from 8 to $15 per hour, and when you’re deciding which surveys to take with prolific, it’s much easier to see the hourly wage and make your decision from there. Surveys aren’t the most lucrative side hustle, they’re just the easiest in my opinion, and you can take them almost any time that you’re free. Middle of the night, weekends, there’s going to be surveys available. I’m going to rate it C tier.
Cambly
Cambly is a website that connects native English speakers with people across the world who want to get better at their English. You’ll get paid $10 to $20 per hour, but if you’re willing to tutor kids, then you could do Camp kids which pays you $12 an hour. With Cambly, it’s so flexible you could
Exploring Side Hustles
Amazon Mechanical Turk
Amazon Mechanical Turk is a beginner-friendly platform that allows you to complete small tasks for pay. However, it’s not the most lucrative side hustle, with an hourly rate of only $6 to $12. It ranks in the D tier.
Prolific
Prolific is a survey website that offers better pay and user experience than Amazon. You can expect to make $8 to $15 per hour, and it’s easy to decide which surveys to take based on hourly wage. Surveys aren’t the most lucrative side hustle, but they’re easy to take at any time. Prolific ranks in the C tier.
User Testing
User Testing is a platform that lets you review apps and websites to improve user experience. You can make $10 to $60 per test, which takes about 20 minutes on average. If you have experience with technology or coding languages, you can qualify for more tests. User Testing ranks in the B tier.
AI PRP Consulting
Being an AI PRP consultant is becoming more necessary as artificial intelligence tools become more prevalent. You can charge $50 to $100 per job, and it’s a lucrative opportunity to sell your knowledge to others. It ranks in the S tier.
Cambly
Cambly connects native English speakers with people across the world who want to improve their English. You can earn $10 to $20 per hour, and it’s flexible to work around your schedule. However, the pay is low, and it ranks in the C+ tier.
VIP Kids
VIP Kids pays $14 to $22 per hour to tutor children in English. However, the hours are strict, and you need 2 years of coaching, teaching, or mentoring experience. It ranks in the B tier.
Grid Space Mixer
Grid Space Mixer is a side hustle that involves phone calls to help people improve their language skills. You can make $20 per hour, but sessions are infrequent. It ranks in the B tier.
Virtual Assistant Platforms
Virtual assistant platforms like Upwork and Time Etc allow you to make $5 to $150 per hour as a freelancer. However, marketing yourself on Upwork can be challenging, and it ranks in the C tier.
Amazon Anonymous Influencer
As an Amazon Anonymous Influencer, you can upload video reviews of products onto Amazon and earn a commission when someone buys the product. It’s a form of affiliate income that can provide passive income over time. It ranks in the A tier.
Rev.com
Rev.com is a platform that allows you to transcribe audio and videos into captions. However, the audio quality is poor, and it can be stressful work. It ranks in the F tier.
Real Estate Sign Placement
Putting out open house signs for realtors can be a lucrative side hustle. You can charge by project and make strategic placements for the signs. It ranks in the B tier.
Storage Unit Flipping
Storage unit flipping involves buying storage units full of items and reselling the valuable items on marketplaces like Facebook and Craigslist. It can be risky and labor-intensive, but it ranks in the B tier.
Print On Demand Canvases
Selling print on demand canvases on Etsy or Amazon can be a profitable side hustle. It offers more opportunities than print on demand t-shirts or hoodies. It ranks in the A tier.
Related content:
- How to Become a Bookkeeper from Home
- 15 Good Ways to Get Paid to Read Books
- A Proofreading Business Can Be a Great Side Hustle in 2024
- 14 Side Hustle Niches Sure To Make Money
- How To Make Money With A Laptop
Tips for Side Hustlers
Seeking Focus Groups
When looking for a side hustle, don’t limit yourself to just online surveys. Try to find focus groups, as they pay a lot more than online surveys. Focus groups are a great way to earn extra cash and can be found through various websites.
Leveraging Technology Skills
If you have experience with technology or know certain coding languages, you can qualify for more tests on platforms like User Testing. Being knowledgeable in technology can also make you a valuable AI PRP consultant, charging $50 to $100 per job.
Considering Flexibility and Pay
When choosing a side hustle, consider both flexibility and pay. Platforms like Camp and VIP Kid offer flexibility, but may not pay as much as other options. Virtual assistant work on Upwork or Time Etc can offer higher pay, but may require more marketing of yourself.
Marketing Yourself on Platforms
When freelancing yourself, it can be more lucrative to learn new skills and find more value that you can provide to clients. Platforms like Amazon Mechanical Turk and Rev.com may not pay as well, but can be a good starting point for beginners. Being an Amazon anonymous influencer is also a great way to earn passive income through affiliate marketing.
Safety in Reselling
When reselling items, make sure to do it safely. Selling print on demand canvases on Etsy or Amazon can be a great way to earn extra cash, but be aware of potential scams or unsafe situations when meeting up with buyers. Similarly, when flipping storage units, be cautious of the items you are purchasing and make sure to have a truck and enough labor to handle the workload.
Boost Your SEO Ranking with These Tips and Strategies
Overview
In the world of Search Engine Optimization (SEO), there are many tactics and strategies that can be employed to improve a website’s ranking on Google and other search engines. While some of these strategies require significant time and effort, there are also many quick wins that can be implemented to see immediate results. By making some of these quick wins a regular habit, you may be able to shorten the long game of SEO.
Recent Strategies to Rank Better
Here are some of the top ways to get quick SEO wins:
- Research keyword modifiers: If you have content that is already ranking on page 2 or 3 of Google search results, you can identify the keywords and pages that are performing well and optimize them for better ranking.
- Optimize pages ranking on page 2 of Google search results: Pages that are ranking on page 1 of Google search results but not generating many clicks can be optimized by tweaking their title and meta descriptions to increase click-through rates.
- Update the titles of pages that are ranking well but have a low CTR: If you have a page that ranks well for a target keyword but ranks on page 3, 4, or 5 for a secondary keyword, you can create new content to target those secondary keywords and improve ranking.
- Create new content for secondary keywords that a page ranks for: Rather than copying your competitors’ SEO strategies, you can identify low-competition and niche keywords that are beatable and target them to speed up your ability to rank.
- Identify low-competition keywords: By charting a new course and identifying the keywords your competitors are overlooking, you can speed up the path to success.
- Identify questions your competitors are not answering: Building internal links from top-ranking pages, earning guest posts, and exploring creative opportunities are some of the ways to acquire backlinks without spamming people and begging for them.
- Think of a creative/non-traditional way to acquire backlinks: Leveraging engineering as marketing, adding an FAQ section to blog posts or key pages, and optimizing images for size are some of the ways to speed up your SEO strategy.
- Add an FAQ section to blog posts or key pages: Generating titles and meta descriptions, blog post outlines, and structured data to give you reach results in search are some of the tasks that can be automated or sped up using generative AI.
- Use AI to speed up basic SEO tasks and processes: Cleaning out duplicate content, improving core web vitals, and improving your website’s speed are some of the ways to improve search performance.
- Improve your core web vitals: Leveraging your 404 page can also be a branding and conversion opportunity.
By implementing these quick wins, you can set your SEO strategy up for success and improve your website’s ranking on Google and other search engines.
Related content:
- Niche Blogging or Podcasting for Monetizing Your Passion
- How to Start a Blog and Monetize It
- How to Get Paid by Creating and Selling Online Courses
- How To Fail and Still Win Big
- How To Teach To Make $10K a Month
How to Create a Newsletter Using AI
Creating a newsletter can be a daunting task, especially when it comes to generating content and crafting an engaging subject line.
However, with the help of Chat GPT, the newsletter creation process can become simpler, more efficient, and less time-consuming.
In this post, I will provide you with three different Chat GPT (or other AI platforms) prompts to assist with identifying newsletter topics, structuring a newsletter, and crafting a newsletter subject line.
The first prompt focuses on identifying potential newsletter topics by generating a list of 10 or more ideas based on a particular industry or field. This exercise can be applied to any industry, including fitness, finance, or technology, and serves as a starting point for creating a year’s worth of content. The second prompt provides an outline for structuring a newsletter, including sections such as the introduction, main content, and conclusion/call to action. By following this outline, the newsletter can be organized, engaging, and easy to read. Finally, the third prompt offers guidance on crafting an eye-catching subject line that will entice readers to open the email.
Key Takeaways
- Use Chat GPT to generate a list of potential newsletter topics based on a particular industry or field
- Follow the provided outline to structure the newsletter into engaging and easy-to-read sections
- Craft an attention-grabbing subject line to increase open rates and engagement
Identifying Newsletter Topics
Industry-Specific Topic Generation
One of the most common challenges in creating any type of content is determining what to talk about. This is where the “Identifying Newsletter Topics” prompt comes in handy. By using this prompt, individuals can generate a list of potential topics for a monthly newsletter based on their industry or field. For instance, in the fitness industry, possible topics could include summer shape-up, effective workout routines, nutrition, the power of mindfulness, strength training, exercise for mental health, healthy snacking, unlocking potential strategies, setting and achieving fitness goals, injury prevention, healthy habits, and fitness technology.
Here are 10 topics or problems that could be a great fit for your newsletter, each aiming to solve a specific issue or meet a need that could attract subscribers:
- Personal Finance Management: Offer advice on budgeting, saving, investing, and managing debt to help readers achieve financial stability.
- Healthy Lifestyle Habits: Share tips on fitness, nutrition, exercise routines, and mental wellness practices to support readers in leading healthier lives.
- Remote Work Productivity: Provide strategies and tools for enhancing productivity and work-life balance for the growing remote workforce.
- Small Business Growth: Give insights on marketing, sales, and operations to help small business owners and entrepreneurs scale their ventures.
- Sustainable Living: Educate on eco-friendly practices, sustainable products, and ways to reduce one’s carbon footprint.
- Technology Updates and Tutorials: Keep readers informed about the latest tech trends and provide how-to guides for using new software or gadgets.
- Career Advancement Tips: Offer guidance on professional development, networking, and job search strategies for career-focused individuals.
- Mindfulness and Stress Reduction: Share techniques and practices for reducing stress and promoting mindfulness in everyday life.
- Travel Hacking: Provide information on finding the best travel deals, points maximization, and destination guides for budget-conscious travelers.
- Creative Hobbies and DIY Projects: Inspire with ideas for creative hobbies, crafts, and DIY projects that readers can do at home.
Each of these topics addresses common interests and concerns, potentially drawing in a large audience of readers interested in improving aspects of their personal or professional lives. Remember to tailor the content to your target audience’s preferences and to engage with them actively to grow your subscriber base quickly.
Example Topics for Fitness Industry
Once individuals have generated a list of potential topics, they can use the “Draft an Outline for a Newsletter” prompt to create a structure for their newsletter. This outline should include sections such as the introduction, main content, and conclusion/call to action.
For instance, if the topic is flexibility and mobility, the outline could include an introduction highlighting the importance of flexibility and mobility, a preview of the main content, and the main content itself, which could be broken down into sections such as the science behind flexibility and mobility, stretching techniques for improved flexibility, mobility exercises for enhanced range of motion, and yoga and pilates for flexibility and mind-body connection.
The conclusion/call to action could be a recap of the importance of flexibility and mobility, an encouragement to incorporate exercises into routines, an announcement of upcoming events or resources, and an invitation to engage and suggest future topics.
Crafting a Newsletter Subject Line
The subject line is the first thing that readers see, so it needs to be attention-grabbing and engaging without being clickbait. By using the “Write an Eye-Catching Subject Line” prompt, individuals can create a subject line that would make readers want to open the email.
For instance, if the topic is injury prevention when exercising, possible subject lines could include “Protect Your Fitness Journey: Master the Art of Injury Prevention” or “Unlock the Secret to Injury-Proof Exercise and Reach Your Fitness Goals.” It is important to keep subject lines brief and to the point, similar to how one would communicate with a friend via text or email. By using these prompts, individuals can generate a list of potential topics, create a structure for their newsletter, and craft a subject line that will increase open rates and engagement.
Structure of a Newsletter
Drafting an Outline
When creating a newsletter, it is important to have a clear outline to ensure that it is easy to read, engaging, and keeps the focus of the readers. The outline should include sections such as the introduction, main content, and conclusion/call to action. To draft an outline, one could use a chat CBD prompt such as “Draft an outline for a newsletter on [insert topic].” An example of an outline for a newsletter on flexibility and mobility could be:
| Section Name | Content |
|---|---|
| Introduction | Greeting and importance of flexibility and mobility, preview of main content |
| Main Content Part A | Science behind flexibility and mobility |
| Main Content Part B | Stretching techniques for improved flexibility |
| Main Content Part C | Mobility exercises for enhanced range of motion |
| Main Content Part D | Yoga and Pilates for flexibility and mind-body connection |
| Conclusion/Call to Action | Recap of importance of flexibility and mobility, encouragement to incorporate exercises into routines, announcement of upcoming events/resources, and invitation to engage and suggest future topics |
Main Content Components
The main content of a newsletter should provide valuable information to the readers. In the case of a newsletter on fitness, potential topics could include summer shape-up, effective workout routines, nutrition, the power of mindfulness, strength training, exercise for mental health, healthy snacking, unlocking potential strategies for setting and achieving fitness goals, injury prevention, healthy habits, and fitness technology.
These topics could be generated using a chat CBD prompt such as “Based on this industry or field, generate a list of 10 potential topics for a monthly newsletter.”
Conclusion and Call to Action
The conclusion and call to action section of a newsletter should summarize the main points of the newsletter and encourage the readers to take action. It could include a recap of the importance of the topic, an announcement of upcoming events or resources, and an invitation to engage and suggest future topics.
Crafting an eye-catching subject line is also important to make readers want to open the email. A chat CBD prompt such as “Write an eye-catching subject line for our newsletter on [insert topic] that would make readers want to open the email” could be used.
An example of an eye-catching subject line for a newsletter on injury prevention when exercising could be “Protect your fitness journey: Master the art of injury prevention.” It is important to keep the subject line brief, punchy, and to the point.
Crafting a Newsletter Subject Line
Writing an Eye-Catching Subject Line
Crafting a compelling subject line is essential to make your newsletter stand out in a crowded inbox. A well-crafted subject line can increase the open rate of your newsletter, which is crucial for building a loyal subscriber base. The subject line should be attention-grabbing, engaging, and relevant to the content of the newsletter. However, it should not be misleading or clickbait.
To write an eye-catching subject line, start by identifying the key message of your newsletter. Use action-oriented language and make it clear what the reader can expect from the content. Keep it brief, ideally between 30-50 characters, to ensure it doesn’t get cut off in the inbox. Use personalization techniques, such as including the recipient’s name, to make it more personalized and engaging.
Subject Line Briefness
The subject line of your newsletter should be brief and to the point. The ideal length is between 30-50 characters, as longer subject lines can get cut off in the inbox. Keeping it brief also makes it more punchy and memorable, making it easier for the reader to remember and engage with the content.
When crafting your subject line, focus on the key message of your newsletter and use action-oriented language to make it clear what the reader can expect from the content. Avoid using jargon or technical terms that might confuse the reader. Instead, use simple and clear language that is easy to understand.
In conclusion, crafting an eye-catching subject line is essential for getting your newsletter noticed in a crowded inbox. Keep it brief, engaging, and relevant to the content of the newsletter. Use personalization techniques and avoid using jargon or technical terms that might confuse the reader.