A recent multi-party agreement has been established to enable electricity supply from Nepal to Bangladesh. The agreement involves Nepal, India, and Bangladesh, and is considered a preliminary step. The Ministry of Energy, Water Resources, and Irrigation has disclosed that the initial phase will see Bangladesh purchasing 40 megawatts of electricity from Nepal.
Everyone is looking for a quick and easy way to riches and happiness. It seems to be human nature to constantly search for a hidden key or some esoteric bit of knowledge that suddenly leads to the end of the rainbow or a winning lottery ticket.
While some people do buy winning tickets or a common stock that quadruples or more in a year, it is extremely unlikely, since relying upon luck is an investment strategy that only the foolish or most desperate would choose to follow. In our quest for success, we often overlook the most powerful tools available to us: time and the magic of compounding growth. Investing regularly, avoiding unnecessary financial risk, and letting your money work for you over a period of years and decades is a certain way to amass significant assets.
Here are several tips that should be followed by beginning investors.
Everyone is looking for a quick and easy way to riches and happiness. It seems to be human nature to constantly search for a hidden key or some esoteric bit of knowledge that suddenly leads to the end of the rainbow or a winning lottery ticket.
While some people do buy winning tickets or a common stock that quadruples or more in a year, it is extremely unlikely, since relying upon luck is an investment strategy that only the foolish or most desperate would choose to follow. In our quest for success, we often overlook the most powerful tools available to us: time and the magic of compounding growth. Investing regularly, avoiding unnecessary financial risk, and letting your money work for you over a period of years and decades is a certain way to amass significant assets.
Here are several tips that should be followed by beginning investors.
1. Set Long-Term Goals
Why are you considering investing in the stock market? Will you need your cash back in six months, a year, five years or longer? Are you saving for retirement, for future university expenses, to purchase a home, or to build an estate to leave to your beneficiaries?
Before investing, you should know your purpose and the likely time in the future you may have need of the funds. If you are likely to need your investment returned within a few months, consider another investment; the stock market with its volatility provides no certainty that all of your capital will be available when you need it.
By knowing how much capital you will need and the future point in time when you will need it, you can calculate how much you should invest and what kind of return on your investment will be needed to produce the desired result.
Remember that the growth of your portfolio depends upon three interdependent factors:
Ideally, you should start saving as soon as possible, save as much as you can, and receive the highest return possible consistent with your risk philosophy.
2. Understand Your Risk Tolerance
Risk tolerance is a psychological trait that is genetically based but positively influenced by education, income, and wealth (as these increase, risk tolerance appears to increase slightly) and negatively by age (as one gets older, risk tolerance decreases). Your risk tolerance is how you feel about risk and the degree of anxiety you feel when risk is present. In psychological terms, risk tolerance is defined as “the extent to which a person chooses to risk experiencing a less favourable outcome in the pursuit of a more favourable outcome.” In other words, would you risk NPR 1000 to win NPR 10,000? Or NPR 10,000 to win NPR 10,000? All humans vary in their risk tolerance, and there is no “right” balance.
Risk tolerance is also affected by one’s perception of risk. For example, flying in an aeroplane or riding in a car would have been perceived as very risky in the early 1900s, but less so today as flight and automobile travel are common occurrences. Conversely, most people today would feel that riding a horse might be dangerous with a good chance of falling or being bucked off because few people are around horses.
The idea of perception is important, especially in investing. As you gain more knowledge about investments – for example, how stocks are bought and sold, how much volatility (price change) is usually present, and the difficulty or ease of liquidating an investment – you are likely to consider stock investments to have less risk than you thought before making your first purchase. As a consequence, your anxiety when investing is less intense, even though your risk tolerance remains unchanged because your perception of the risk has evolved.
By understanding your risk tolerance, you can avoid those investments which are likely to make you anxious. Generally speaking, you should never own an asset which keeps you from sleeping in the night. Anxiety stimulates fear which triggers emotional responses (rather than logical responses) to the stressor. During periods of financial uncertainty, the investor who can retain a cool head and follows an analytical decision process invariably comes out ahead.
3. Control Your Emotions
The biggest obstacle to stock market profits is an inability to control one’s emotions and make logical decisions. In the short-term, the prices of companies reflect the combined emotions of the entire investment community. When a majority of investors are worried about a company, its stock price is likely to decline; when a majority feel positive about the company’s future, its stock price tends to rise.
A person who feels negative about the market is called a “bear,” while their positive counterpart is called a “bull.” During market hours, the constant battle between the bulls and the bears is reflected in the constantly changing price of securities. These short-term movements are driven by rumours, speculations, and hopes – emotions – rather than logic and systematic analysis of the company’s assets, management, and prospects.
Stock prices moving contrary to our expectations create tension and insecurity. Should I sell my position and avoid a loss? Should I keep the stock, hoping that the price will rebound? Should I buy more?
Even when the stock price has performed as expected, there are questions: Should I take a profit now before the price falls? Should I keep my position since the price is likely to go higher? Thoughts like these will flood your mind, especially if you constantly watch the price of a security, eventually building to a point that you will take action. Since emotions are the primary driver of your action, it will probably be wrong.
When you buy a stock, you should have a good reason for doing so and an expectation of what the price will do if the reason is valid. At the same time, you should establish the point at which you will liquidate your holdings, especially if your reason is proven invalid or if the stock doesn’t react as expected when your expectation has been met. In other words, have an exit strategy before you buy the security and execute that strategy unemotionally.
4. Handle Basics First
Before making your first investment, take the time to learn the basics about the stock market and the individual securities composing the market. There is an old adage: It is not a stock market, but a market of stocks. Your focus will be upon individual securities, rather than the market as a whole. There are few times when every stock moves in the same direction; even when the averages fall by 100 points or more, the securities of some companies will go higher in price.
The areas with which you should be familiar before making your first purchase include:
Knowledge and risk tolerance are linked. As Warren Buffett said, “Risk comes from not knowing what you are doing.”
5. Diversify Your Investments
Experienced investors such as Buffett eschew stock diversification in the confidence that they have performed all of the necessary research to identify and quantify their risk. They are also comfortable that they can identify any potential perils that will endanger their position, and will be able to liquidate their investments before taking a catastrophic loss.
The popular way to manage risk is to diversify your exposure. Prudent investors own stocks of different companies in different industries, sometimes in different countries, with the expectation that a single bad event will not affect all of their holdings or will otherwise affect them to different degrees.
Imagine owning stocks in five different companies, each of which you expect to continually grow profits. Unfortunately, cirplusstances change. At the end of the year, you might have two companies (A & B) that have performed well so their stocks are up 25% each. The stock of two other companies (C & D) in a different industry are up 10% each, while the fifth company’s (E) assets were liquidated to pay off a massive lawsuit.
Diversification allows you to recover from the loss of your total investment (20% of your portfolio) by gains of 10% in the two best companies (25% x 40%) and 4% in the remaining two companies (10% x 40%). Even though your overall portfolio value dropped by 6% (20% loss minus 14% gain), it is considerably better than having been invested solely in company E.
6. Avoid Leverage/Margin Loan
Leverage/Margin loan simply means the use of borrowed money to execute your stock market strategy. In a margin account, banks and brokerage firms can loan you money to buy stocks, usually 50% of the purchase value. In other words, if you wanted to buy 1000 shares of a stock trading at NPR 100 for a total cost of NPR 100,000, your brokerage firm could loan you NPR 50,000 to complete the purchase.
The use of borrowed money “levers” or exaggerates the result of price movement. Suppose the stock moves to NPR 200 a share and you sell it. If you had used your own money exclusively, your return would be 100% on your investment [(200,000 -100,000)/100,000]. If you had borrowed NPR 50,000 to buy the stock and sold at NPR 200 per share, your return would be 300 % [(200,000-50,000)/$50,000] after repaying the NPR 50,000 loan and excluding the cost of interest paid to the broker (which is usually 16% and over).
It sounds great when the stock moves up, but consider the other side. Suppose the stock fell to NPR 50 per share rather than doubling to NPR 200, your loss would be 100% of your initial investment, plus the cost of interest to the broker [(50,000-50,000)/50,000].
A margin is a tool that can go extremely bad in a stock market like Bangladesh.
Final Thoughts
Stock investments historically have enjoyed a return significantly above other types of investments while also proving easy liquidity, total visibility, and active regulation to ensure a level playing field for all. Investing in the stock market is a great opportunity to build large asset value for those who are willing to be consistent savers, make the necessary investment in time and energy to gain experience, appropriately manage their risk, and are patient, allowing the magic of compounding to work for them. The younger you begin your investing avocation, the greater the final results – just remember to walk before you begin to run.
Users in Nepal, the Philippines, Indonesia, and Bangladesh who use the WebMoney system can now withdraw their funds in cash.
This option is available under the Cashout menu at withdraw.web.money, where you can apply for a fund transfer.
Please keep in mind that only the sender can receive the sent monies.
Source: WebMoney
Micro Jobs are one of the finest ways for students, housewives, and anyone who do not have significant IT abilities to make money online. They are particularly popular in India, Pakistan, Indonesia, South Africa, the Netherlands, the Philippines, the United States, Canada, Australia, and Belgium, and their popularity is expanding in Nepal.
However, with so many Online Scams on the internet, distinguishing between legal Micro Job Websites and Micro Job Scams can be difficult. As a result, I decided to compile this list of reputable Online Microjob Websites.
But, before we get into the list of the Best Micro Job Websites, let’s have a look at what Micro Jobs are.
What Are Micro Jobs
Micro Jobs are online tasks that can be completed in few minutes. The tasks are very simple and basic knowledge of internet is sufficient for anyone to complete these tasks.
At Micro Jobs Websites, you may be asked to,
How Do Micro Job Websites Work?
The websites which offer Micro Jobs, have two types of people registered with them
Employer: A Person who wants to get a task done
Worker: A Person who wants to make money by completing tasks
After depositing the payment to be made to the worker, the employer advertises the task on the Microjobs website. This payment is held by the Microjobs website to prevent bogus clients from not paying. The worker can then go to the website and look for projects that he is capable of accomplishing.
After finishing the task, a worker will be required to produce certain proofs of completion as requested by the employer. The employer next goes over the proof to see if the employee truly did the job.
If the project is finished successfully, he labels it as completed, and the payment is released to the worker via the Micro Job website. As a commission, the website normally costs the employer a modest proportion.
Workers are not compensated in any way. In the event of a disagreement, you may contact the website, which will, at its sole discretion, resolve the matter in the worker’s or employer’s favor.
How Much Can I Earn With Micro Jobs?
The remuneration for each assignment is determined by the task’s complexity. The higher the pay, the more difficult the task. The typical remuneration per task ranges between $0.01 and $1.
Some websites limit the jobs to people from specific countries, mainly the United States, the United Kingdom, and other Tier 1 nations. There are no regional limits on other websites, but the tasks are limited based on your accuracy in completing past jobs.
Furthermore, some websites have a restricted number of activities available, but others have enough work to keep you busy for the entire day.
As a result, depending on the website and your skills, your monthly profits will vary substantially. Those who are able to effectively follow the employer’s instructions for doing the assignment can earn up to $300 each month.
How Will I Get Paid?
Almost every website accepts payments in US dollars. Because the workers are located all over the world, most of these websites use payment service providers like PayPal, Payoneer, and Payza to process payments. Some businesses also send checks to people in the United States and Canada.
Payment Modes for each of the websites can be found on their own websites.
All of the websites listed below provide a method for receiving payment in Nepal.
So, now that you know how Micro Jobs function, let’s move on to the Best Micro Job Websites list.
Best Online Micro Job Websites
1. Amazon Mechanical Turk – http://www.mturk.com
Because it is owned by Amazon, Amazon Mechanical Turk, often known as Mturk, is the most dependable website for Micro Jobs. In addition, Mturk’s remuneration per task is often higher than that of other Micro Jobs websites.
Micro Jobs are referred to as Human Intelligence Tasks or HITs on Mturk. The individual who posts the assignment is known as the Requester, and the one who completes it is known as the Worker.
You can choose to register as a Worker or a Requester. To make money with Mturk, you must first register as a worker with Amazon.com.
If you already have an Amazon account, you can sign in using your Amazon credentials. After that, you must submit a request to register as a Worker. Amazon will assess your request and, at its sole discretion, approve or reject it.
Except for Amazon, no one knows what criteria are used to approve or reject requests. Requests from India, Pakistan, Bangladesh, and most other regions of Asia, on the other hand, are often denied, a fact that Amazon.com denies. Mturk is a must-have for people from the United States, the United Kingdom, and other Tier 1 nations.
2. Microworkers – http://www.microworkers.com
Microworkers is a good alternative to Mturk for people who are unable to register on Mturk. Microworkers get a decent pay rate per task.
The job that needs to be done is referred to as a Task at Microworkers. The individual who posts the task is known as the Employer, and the one who completes it is known as the Worker.
Employers can use microworkers to limit the task to workers from a single country. People from the United States, the United Kingdom, and other Tier 1 countries typically have greater job opportunities than those from Tier 2 and Tier 3 countries such as India, Pakistan, the Philippines, and Nigeria.
You can only finish up to 40 jobs in the beginning. After that, you’ll have to wait for the employers to rate your work before you can move on to the next one. A low grade will have an impact on your overall accuracy.
If your accuracy in the last 30 days falls below 75%, you will not be permitted to complete any more jobs. In such situation, you’ll have to wait for the assignments with low ratings to pass the 30-day mark. As a result, you must ensure that you only accomplish jobs that you are capable of completing satisfactorily.
Pay per job typically ranges from $0.05 to $0.5, with individuals from Tier 1 nations receiving higher pay. As a result, if you are from a Tier 1 country, you can earn between $50 and $100 every work. However, if you are from a Tier 2 country, your earnings will be substantially lower, and crossing the $30 barrier will be challenging.
Microworkers allows both employees and employers to register in one place. Make sure you give accurate information, including your address, when registering, because Microworkers will send you a verification PIN to your postal address, which you must input to withdraw your money for the first time. This step is required to prevent people from creating numerous accounts.
Microworkers’ minimum withdrawal amount is $9 plus withdrawal fees (7.5 percent for Paypal)
3. Figure Eight (Formerly CrowdFlower) – https://www.figure-eight.com
Another excellent resource for doing Micro-Jobs is Figure Eight. They operate in a totally different manner from Microworkers and Mturk.
Figure Eight provides you with micro jobs known as “tasks” via third-party websites, who then pay you for them. Clixsense is the most reputable of the websites that offer Figure Eight tasks.
The activities at Figure Eight are typically quite different from those at Microworkers and Mechanical Turk. In order to finish one task, you will need to complete multiple comparable sub-tasks.
The tasks generally include
Because it has no territorial constraints, Figure Eight is the ideal way to make money if you are from a Tier 2 or Tier 3 country. Figure Eight, on the other hand, limits the activities based on your accuracy in completing earlier assignments.
Starting at Level 0, you will have very few, if any, assignments available to you as a beginner. Many individuals believe it is a waste of time because the ones that are accessible pay relatively little.
You will, however, be promoted to higher levels as you accomplish more jobs with high accuracy. You’ll have a good number of tasks at Level 1, and you’ll have the luxury of finishing only the ones that pay handsomely.
You could just have enough tasks at Levels 2 and 3 to keep you occupied for the entire day. At these levels, it goes without saying that your earnings will skyrocket. However, you must exercise extreme patience in order to reach level 1, which could take up to two months.
One can easily earn $1-$1.5 per hour at Level 1 and above. Clixsense also gives you the option of earning extra money by completing surveys.
In addition, completing your daily checklist earns you a bonus of up to 16% of your overall profits. You’ll also receive a $5 bonus for every $50 you earn through chores.
A weekly task competition is also held by them. Each week, the top reward of $50 is awarded to the individual who completed the most tasks the previous week, with the remaining top ten receiving varying prize amounts.
With everything taken into account, if you can work for 4-5 hours each day and perform assignments with greater accuracy, you can earn up to $200-300 per month, regardless of where you live. This is far more than any other microjob website.
The minimum payment at ClixSense is $10. It does not allow you to withdraw your earnings using PayPal. However, you can withdraw your money using Payoneer, Payza, Tango Card, and other similar services.
More information about ClixSense can be found in my ClixSense review. That will give you an idea of how to get the most out of your ClixSense revenue.
4. RapidWorkers – http://www.rapidworkers.com
Another notable website for Micro Jobs is Rapidworkers. Its user interface is extremely similar to Microworkers, although it lacks a few key capabilities.
The person who posts the Job is called the Employer, and the individual who performs the task is called the Worker, just as Microworkers. It also allows both the employer and the employee to register at the same time.
The minimum payout at Rapidworkers is $4 plus withdrawal fees (6 percent For Paypal)
5. Short Task – http://www.shorttask.com
Short Task is another good website for Micro Jobs. Here the person who posts task is called Seeker and the person who performs a task is called Solver.
Separate registration and sign-in are required for Solver and Seeker. Minimum payout at Short Task is 10$
Lastly,
If you live in the United States, Mturk and Microworkers are by far the top sites for Micro Jobs. Tasks will be limited with Microworkers, and you may not be able to work for more than an hour every day.
Figure Eight may not pay much per task at level 0, but as you get to Level 1 and beyond, the compensation per task skyrockets, and you have enough tasks to work for 8-10 hours each day. You should absolutely register with Clixsense and spend more time working on Figure Eight activities if you are from a Tier 2 country, as it has no geographic constraints.
Even people from Tier 1 countries can benefit from ClixSense. In fact, people from Tier 1 nations should concentrate on ClixSense Surveys rather than assignments because there are many high-paying surveys accessible, particularly for those from the United States and the United Kingdom.
I hope you enjoyed reading my article. Please feel free to share this post with your friends if you enjoyed it.
Do you want to learn more about Microjobs? Please leave a remark below to clear up any confusion.