{"id":4982,"date":"2019-05-14T15:03:51","date_gmt":"2019-05-14T19:03:51","guid":{"rendered":"http:\/\/caissealliance.absoludev.ca\/?p=4982"},"modified":"2019-05-14T15:03:51","modified_gmt":"2019-05-14T19:03:51","slug":"earn-money-without-working","status":"publish","type":"post","link":"https:\/\/www.caissealliance.com\/en\/personal\/youth\/earn-money-without-working\/","title":{"rendered":"Earn Money Without Working"},"content":{"rendered":"<p>There are 3 things you can do with the money you earned or received as a gift or allowance:<\/p>\n<ul>\n<li>Spend it.<\/li>\n<li>Keep it in your wallet or piggy bank<\/li>\n<li>Deposit it in a savings account or invest it.<\/li>\n<\/ul>\n<p>If you keep your money in your wallet, you\u2019ll be more tempted to spend it! And $50 will still be worth $50 if you keep it in your hands for 2 years.<\/p>\n<div id=\"mastercardhead\">\n<p>Spending all your money is no way to save. So what should you do?<\/p>\n<\/div>\n<h2>Invest and see your savings grow<\/h2>\n<p>If you deposit part of your earnings in a savings account or you invest it with your C aisse populaire, your money will generate interest which will increase your wealth.<\/p>\n<h2>How much should I save?<\/h2>\n<p>You should put aside\u00a0<strong>between 5% and 10%<\/strong>\u00a0of your income. For example, if you earn $50, you should save between $2.50 and $5.00 a week.<\/p>\n<h2>Compound interest means more money<\/h2>\n<p><strong>When it comes to savings, your age is your main advantage<\/strong>. By starting to save at en early age, and not making any withdrawals for several years, you could end up with a tidy little amount!<\/p>\n<h3>How does that work?<\/h3>\n<p>When you place your money in a savings account or investment, your C aisse populaire pays you\u00a0<a href=\"https:\/\/www.caissealliance.com\/fr\/particulier\/jeunesse\/vocabulaire-de-la-finance\/\" target=\"_blank\" rel=\"noopener\">interest<\/a>.That\u2019s money added to your savings: you earn money without knowing it!<\/p>\n<p>With time, you\u2019ll see your savings grow.<\/p>\n<p>Here\u2019s how much you could earn by investing only\u00a0<strong>$10 a\u00a0<\/strong>week*. The interest is the money you earned without having to work.<\/p>\n<p><strong>Weekly deposit of $10<\/strong><\/p>\n<table data-wrap-id=\"table-id-trrre\">\n<tbody>\n<tr data-wrap-id=\"table-row-aalzw\">\n<td data-wrap-id=\"table-cell-gomfz\">\n<p class=\"ql-align-center\"><strong>Time span<\/strong><\/p>\n<\/td>\n<td data-wrap-id=\"table-cell-orszx\"><strong>Amount invested<\/strong><\/td>\n<td data-wrap-id=\"table-cell-kxrtv\"><strong>Interest<\/strong><\/td>\n<td data-wrap-id=\"table-cell-dsvzf\"><strong>Total<\/strong><\/td>\n<\/tr>\n<tr data-wrap-id=\"table-row-iakax\">\n<td data-wrap-id=\"table-cell-khlsx\"><strong>After 10 years<\/strong><\/td>\n<td data-wrap-id=\"table-cell-euzir\">$5 218<\/td>\n<td data-wrap-id=\"table-cell-ghumy\">$2 250<\/td>\n<td data-wrap-id=\"table-cell-nhvap\">$7 468<\/td>\n<\/tr>\n<tr data-wrap-id=\"table-row-wjnfl\">\n<td data-wrap-id=\"table-cell-rrvbe\"><strong>After 20 years<\/strong><\/td>\n<td data-wrap-id=\"table-cell-jonff\">$10 436<\/td>\n<td data-wrap-id=\"table-cell-gyrgj\">$11 726<\/td>\n<td data-wrap-id=\"table-cell-jsnwc\">$22 162<\/td>\n<\/tr>\n<tr data-wrap-id=\"table-row-xepes\">\n<td data-wrap-id=\"table-cell-jtkys\"><strong>After 30 years<\/strong><\/td>\n<td data-wrap-id=\"table-cell-besfq\">$15 654<\/td>\n<td data-wrap-id=\"table-cell-orxad\">$35 346<\/td>\n<td data-wrap-id=\"table-cell-ifvtm\">$51 000<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p>* This example assumes a return of 7%, compounded annually.<\/p>\n<h2>Invest regularly without thinking about it<\/h2>\n<p>The best way to invest money on a regular basis is to ask your C aisse populaire to automatically transfer an amount from your account to a savings account or investment. You can choose the amount and frequency (weekly, every 2 weeks, monthly). Not only are you earning money without working, but your money is deposited in your savings account without your having to lift a finger.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are 3 things you can do with the money you earned or received as a gift or allowance: Spend it. Keep it in your wallet or piggy bank Deposit it in a savings account or invest it. If you keep your money in your wallet, you\u2019ll be more tempted to spend it! And $50 [&#8230;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[110],"tags":[],"class_list":["post-4982","post","type-post","status-publish","format-standard","hentry","category-youth"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Earn Money Without Working | Caisse Alliance<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.caissealliance.com\/en\/personal\/youth\/earn-money-without-working\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Earn Money Without Working | Caisse Alliance\" \/>\n<meta property=\"og:description\" content=\"There are 3 things you can do with the money you earned or received as a gift or allowance: Spend it. 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