Side hustle 1: Rev transcription

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I often hear people talk about their interest in investing but they are always stymied by their lack of money to invest. Does this mean that we should just keep dreaming about investing? Nope, nope, nope. You can have a side hustle where you can get money to invest. A side hustle is very unlikely to make you rich but you can add this income to the money you set aside for investing.

 

I know that the sooner I invest and the more I invest , the better off you’ll be. That’s why I’ve been looking at online side hustles that I can do without interfering from my main job. I’ve spent quite a lot of time researching possible side jobs and I’ve decided to try transcription work.This suits me as I can choose the project I want to work with and how long or how often I want to work.

I have signed up to Rev, A company that offers transcriptionists work on a per project basis. I have read both good and bad things about this company. I still decided to have a go at it, because I want to find out for myself whether this will work for me or not.

I will blog about the signing up process and will let you know how it goes.

Step 1: Signing up

It is very easy to sign up. Jut give them your name and email address and you’re good to go.

Part 1: Grammar Test

They will give you a grammar test which will test your knowledge of basic grammar such as punctuation, capitalization and word choice. It was easy, but you have to be careful because some sentences look correct but if you look closely, there’s no punctuation so it is actually wrong. Read all the choices even if you think the first one is correct. Take your time, don’t rush and most of all review your answers before submitting.

Part 2: Trial

There is a short tutorial where you read around 9 slides to learn how to use their transcription software. They will also give you guidelines on how transcribe properly. In my case, I got an audio file 2 minutes and 33 seconds long about Boeing and NASA. It took me about 20 minutes to transcribe the whole thing. The software takes a bit of getting used to but once you get the hang of it, it is very easy to use. The topic is not that difficult and the speakers were quite easy to understand. I had to google some technical terms but I think it went well (touch wood).

 

After you submit your sample transcription, you will get an email informing you that it could take up to a week to process your application. I really hope I pass because if not, this will end up to be a very short how to series.

 

Update coming soon…

 

 

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Review: My Maid Invests in the Stock market

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http://trulyrichclub.com/My_Maid_Invest%28shortversion%29.pdf

Knowledge is Power

Money, for most of us, is not easy to get. We have to be smart when dealing with it. As a newbie investor, the one thing I know for sure is that there’s a lot I don’t know. As I venture into investing, on top of my to do list is RESEARCH RESEARCH RESEARCH. I have the general idea of investing, but now it’s time to learn the nitty gritty of it. I’ll start of by reading My Maid Invests in the Stock Market… And Why You Should, Too by Bo Sanchez ()I have heard a lot of good things about this book, but when it comes to my money, I refuse to rely 100% on the interweb. I did my own reading and and will now share my thoughts with you. I also encourage you to do your own reading and let me know what you think in the comment section.

Review

This book is very easy to read for investing newbies like me. Your head won’t spin with all the technical terms you would expect from an investment book.

The major takeaways are:

Investing is NOT a Get Rick Quick scheme

So if you’re expecting to retire by next year, then your in dreamland kiddo. Investing over time has a better ROI (return on investment) than parking your money in a savings account at your local bank, but this takes time. Years, decades kind of time not months especially not days.

Consistency is the name of the game

Money Cost Averaging a.k.a Peso Cost Averaging is the way to go. Even if you invest a small amount, over time, you will get something significant. It does not matter what the state of the market is, whether stocks are on a high or low, as long as you buy stocks from good companies. Consistency is key and to be successful in investing is to play the long game. The maids (house helpers) in the book invest around 2,000 pesos a month, which may not look much but since they are consistent, they are highly likely to retire pretty well-off.

Step by step. Bit by bit.

This book laid out concrete steps on how to start investing. I would rather not write them here as I feel that I would be copying the essence of the book instead of just giving the highlights and review.

Verdict

I am glad I read this book because it is inspirational and instructive. The stories of people I can relate to (not already super successful, super rich individuals) inspired the budding investor in me to go for it while the concrete instructions laid out will make it easier for me to make the next steps.

What about you? Have you read this book? If not, click the link under the photo and read it for yourself. If yes, what do you think of the book? Do you have other takeaways that I missed? Please share your thoughts in the comment section.

Disclaimer: I am in no way associated with Bo Sanchez, the Truly Rich Club. What I have written here is my personal review. I am not compensated if you decide to click the link and read the book.

 

 

 

 

 

Investor Me PH

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Why invest?

We’ve learned from a very young age that we have to work hard to earn money.

Most of us associate earning money to spending actual time doing a task.

The truth is, we can let our money work for us too.

While we are working our regular jobs or growing our businesses,

our money could be working and growing for us.

Why blog?

This blog will chronicle my journey as an investor.

I am going to share with you my experience, trials and (fingers-crossed) triumphs and all.

I will give practical advice to other newbie investors and people who are still on the fence whether to invest or not.

Why anonymous?

This blog is anonymous because I value my privacy.

I will be sharing real information about my investments and I do not want just anyone to know how much money I have or make.                                                                                   That is just common sense.

And in case I get super lucky and become a millionaire, I don’t want my inaanaks to know 😉