How to Make Money from Your Bad Habits
Most people struggle to overcome bad habits that are often driven by addictive or obsessive behaviors. Doing so can be extremely difficult and possibly financially ruinous. Then again, there’s a silver lining to every cloud. If you suffer from any of the following, read ahead to learn about how you can potentially profit from the bad habits:
Gambling
One of the most well-known vices, gambling, can be a hard habit to kick. Frequent gamblers are known for losing money, not making it. But if you have a hard time overcoming your gambling addiction, you can take certain steps to at least break a losing streak. Start by signing up for legal gambling websites, like online casinos in New Jersey.
Gamblers get assurance that they can always withdraw winnings when the casino is perfectly legal. Don’t stop there; consider your gambling habit a form of investment. Try to choose games that require skill, so the outcome of the game isn’t based on chance alone.
More importantly, dedicate a certain amount of “capital” just for gambling, similar to what investors do with stocks. Use only this capital at casinos and do not dip into your other funds. This step will prevent you from going dead broke every time you enter a casino.
Impulsive Shopping
The rise in online e-retail is perfectly poised to nurse the compulsions of impulsive shoppers. If you stay up late obsessively shopping for shoes, then you might be a “shopaholic.” Impulsive shopping can be as bad as gambling. Shopaholics often spend all their income without saving or paying down debt.
Instead of compromising your financial future with a terrible shopping addiction, monetize your obsession. Shopping for things online or offline can be a side job. There are brands willing to pay for “mystery shoppers” or professional shoppers to test products and purchasing experiences.
Professional shoppers earn a stipend each month for their work. The products they purchase are also reimbursed. If shopping has become an obsession for you, consider becoming a mystery shopper to profit from the bad habit.
Smoking or Vaping
You have probably known for years that you should stop smoking, period. But it’s easier to say than do. Even vaping, which was supposed to help smokers kick the habit, can become addictive. Smokers are strongly encouraged to quit because of the various health issues associated with the habit.
But, if you still can’t quit, might as well make some money while you are at it. The best way to get help and earn cash is to sign up for various studies that require smokers or vapers to participate. You can also blog about or make videos about your habit and make money posting ads.
Who says bad habits have to ruin you financially? Use the above suggestions to mitigate the financial losses that may result because of your addictive behaviors. However, keep in mind that you will have to control yourself at one point. But if that point can’t come soon enough, adopt an investor’s mentality to make some cash that you can eventually save to use to pay down debt.