6 simple methods you can use to earn cash from your purchases

In a time when financial stability and prosperity are priorities, making the most of every purchase could be an additional way of earning more money. If you are interested in maximizing your investment returns or turning your usual purchases into profitable deals, there are several ways you can sell what you buy and make a profit. Here are nine easy methods discussed in this article for turning purchases into profits.

1. Cash back Programs and Rewards Cards

It becomes very easy to get back money from what you have spent. It’s a way of getting compensated for getting something and many products/service companies have embraced it. At times; some people may call it digital buy-one-get-one-free offer or even free samples, but at the end of the day people get rewarded for buying a certain product/service

Operating Principle:

• Register for credit cards that offer cash-back or incentives from goods purchased. 
• Use these cards for everyday buys: groceries, gas, or dining.
• Settle the debt fully each month to dodge extra costs occasioned by interest.

Benefits:

• Get cash back on the purchases you have been making so far.
• Get travel insurance, purchase protection, and hot deals among other benefits.
• Some of these programs offer sign-up bonuses for additional rewards once you meet the first spending requirements.

Examples: Chase Freedom Unlimited, Discover it Cash Back, American Express Blue Cash Preferred.

2. Reselling Items

Selling items that you bought is a really good idea of how to make money maybe. Also, This one could be either clothes or electronics or suppose even antiquities or collectibles. It is simple for people who want to list stuff online because eBay, Poashmark and Amazon offer such services.

Operating Principle:

• From discounted sales, second-hand stores, or online marketplaces, you can get goods cheaply.
• Then put them back on sale again but this time charge more than what you had originally bought them at ; just make sure to have only quality ones and give brief but detailed information in order to get more people interested in buying them.

Benefits:

• If you purchase cheaply and sell costly, you will be able to receive high profits.
• You are allowed to decide on which goods to sell depending on the demand in the market.
• This is a chance for you to get rid of things which are not used hence earn money.

Examples: Doing business by selling designer clothes in Poshmark, becoming a salesperson at eBay flipping electronics and reselling old stuff at Etsy.

3. Affiliate Marketing

In case you have a blog, social media presence or a YouTube channel, it is great for you as you can be able to start making money soon after setting up the business. This is through endorsing various products which are sold online hence incurring commission depending on the sales made from your referral.

Operating Principle:

• Register for firms’ affiliate programs such Amazon Associates, Share A Sale or ClickBank. 
• When purchasing and commissioning products, you share what you truly think using affiliate URLs.
• In case someone buys anything through your reference, you can get paid.

Benefits:

• As time goes on and your content continues to make sales, you have a chance of earning income without taking any active part.
• It is possible for you to select goods that are close to your heart.
• You are not responsible for handling stock or shipping commodities.

Examples: When you write product reviews on a blog, share affiliate links in social media posts, and create product review videos on YouTube.

4. Making Investments in Appreciating Assets

There are certain purchases that tend to go up in value overtime, such as real estate, art and collectibles. A good way to make money is investing in things that will likely go up in price.

Operating Principle:

• Look for and purchase assets that have shown a tendency to appreciate in the past, such as real estate, art or unique collections. Keep them until their value rises.
• When the market is good, sell them at a profit.

Benefits:

• Unlocking the greater potential over time. It brings variety into your investment pool.
• Assets such as real estate have an added advantage in that they earn rentals as well.

Examples: Other similar ways of investing your money include investing in rental properties, purchasing artwork by artists that are just starting up, and buying limited edition collectibles.

5. Utilizing Coupons and Rebates

Discounts and rebates go a long way in reducing your spending which in turn boosts your savings. There are numerous digital programs that provide discounts and give back some money to the consumers.

Operating Principle:

• Take advantage of using some apps (for instance, Rakuten, Honey, and Ibotta) to search and/or redeem coupons and rebates. 
• Just as you would normally do, buy products and make sure to follow the procedure for a rebate such as uploading receipts.
• Finally, at some point you will get some money back by way of either direct deposits, checks or even gift cards.

Benefits:

• Save your money on your daily shopping bill.
• It is very easy to use with only little effort necessary. 
• With time, considerable savings will be made.

Examples: Using the service of Honey to access online shopping discounts, cashing in grocery rebates on Ibotta, getting paid back for Rakuten purchases.

6. Loyalty Programs

The majority of businesses have a reward program that follows customer for more than one purchase, it grants concessions, giveaways or cash back converting habitual spending into saving on expenses.

Operating Principle:

• Sign up for loyalty programs at the stores where you regularly shop.
• Earn points or rewards on every purchase.
• Your points can be exchanged for price concessions, free goods, or cash backs.

Benefits:

• Go ahead and get benefits from the stores which you been going to for shopping.
• Get a chance to access exclusive offers or discounts.
• In some reward programs, as a person gets to spend more, even the benefits he or she gains increases according to tiers

Examples: These are programs like Starbucks Rewards for instance Sephora Beauty Insider program as well as airline complimentary programs.

Conclusion

Earning money from purchases is possible, and can be relatively easy if you know how to do it. There exist several ways for ordinary purchase expenditure to be converted into an opportunity for profit; such as using cash back schemes, re-selling items; investing in assets whose value goes up over time, or turning them into rental property; among other avenues. For persons aiming at improving their economic status while also producing more proceeds out of what they buy each day, below are nine approaches that could work for them. This involves re-understanding your shopping behavior so that it caters for both these aspects simultaneously.

Whether you are a skilled shopper, investor or creative entrepreneur, these plans will help you get more value out of what you buy and achieve your financial objectives.