Given that recent research has found that the average person in the UK spends 3 hours 25 minutes on their phone every day, it’s no surprise that most of us feel as though we spend too much unnecessary time on our smartphones.
However, there are ways that you can make use of this time to achieve a financial return. From downloading an app to completing a quick ten-minute survey or taking up forex trading, the experts over at Learn to Trade are discussing how your smartphone could be the key to some valuable financial assistance.
Discover money-earning apps
Using smartphone apps to make money is a great way to save time and, ultimately, make money quickly. While it may sound too good to be true, it could be as simple as downloading a smartphone app and spending 10 minutes on there to earn yourself some cash.
Consider downloading a mystery shopping app, which will pay you for undertaking mystery shopping tasks around a city or town - it’s often as easy as popping into your local supermarket and answering the in-app questions. Some questions the app may ask you include to comment on the level of stock in shops or to answer some questions about assistance availability. Essentially, these are relatively simple and minimally time-consuming. Despite having to undertake some free tasks from time to time, making use of these apps are an efficient way to make money in the long-term.
Alternatively, opt for an advertising app where you won’t even need to leave your sofa to start making money. Advertising apps work by placing an advert on your phone’s lock screen and pays points for unlocking your phone. Further still, if you click through to the websites advertised, you can even earn more money than you would initially, making this 5-second activity an incredibly efficient way to earn money from the comfort of your own home.
Complete online surveys
If you have a considerable amount of time on your hands, completing online surveys to help market researchers by simply sharing your opinion is an effective way to make some extra pocket money. This could be on a variety of topics, from the latest iPhone to your views on Brexit. So instead of flicking through social media, spend those three hours wisely by voicing your opinion on something you’re passionate about.
There are two ways to take part in online surveys which will help you to earn money. Traditional market research groups attempt to slash their marketing costs by organizing focus groups, which often pay much more per session than using an app. Often, companies limit you to taking part in a few per year to gain the most representative opinion, but if you’re savvy by joining a few groups, you won’t find yourself out of pocket - and could even get a free refreshment when you attend! Alternatively, by using an online survey, all you’ll have to do is sign up and wait for survey alerts to contact you. It’s all about being dedicated to completing the surveys to capitalize on those cash returns - you could set yourself a target of one per week, for example.
Take up forex trading
If you have a lot of time on your hands, investing this into building a long-term skill such as learning to trade forex could be more valuable for you. The forex market is the largest investment market in the world, allowing for 24/5 digital trading. This liquid market means that you’ll have the freedom to trade according to your schedule, making it a great skill to acquire alongside average working hours. There are several apps that allow you to trade from your smartphone - some examples include Bloomberg Business Mobile App and The Trading Game.
To get your forex trading skills up to scratch, you can also practice from your smartphone using demo account apps which could be perfect for filling in the time on your morning commute. Using these apps, you’ll have access to the forex market 24 hours per day, alongside being able to keep up with the financial news which may inform you of a good trade to make. Having access whenever you need it is an efficient way to build up your skill set and gives you the freedom to practice wherever you are.
So, spending time on your smartphone doesn’t always have to be counterproductive or feel unnecessary. With these tips, we hope that you’re feeling inspired to head to the app store and start making money from your smart device so that you can use your screen time wisely and subsidize your existing income.
Author bio:
John James is a content writer for Learn To Trade, the foreign exchange education and learning specialists - offering a range of training courses to help people understand the currency trading market, as well as its opportunities and risks.
