The psychology of money explores how emotions, cognitive biases, and social influences shape financial decisions. Key concepts include:

_Emotional Spending:_

- Using money to cope with emotions, such as stress or boredom.

- Impulsive purchases driven by feelings rather than needs.

_Cognitive Biases:_

- Confirmation bias: Seeking information that confirms financial decisions.

- Loss aversion: Fearing losses more than valuing gains.

_Social Influence:_

- Keeping up with peers or social status driving spending habits.

- Peer pressure and FOMO (fear of missing out) impacting investment choices.

_Money Mindsets:_

- Abundance vs. scarcity mindset: Viewing money as a means to achieve goals or a limited resource.

- Financial stress and anxiety impacting mental well-being.

_Framing Effects:_

- How information is presented influences financial decisions (e.g., saving vs. spending framing).

_How to Apply Psychological Insights:_

- Automate savings and investments to reduce emotional decision-making.

- Set clear financial goals and track progress.

- Practice mindful spending and mindful investing.

- Avoid social comparisons and focus on personal financial goals.

By understanding the psychology of money, individuals can make more informed financial decisions, develop healthier relationships with money, and achieve long-term financial well-being.

_Additional Resources:_

- _The Psychology of Money_ by Morgan Housel

- _The Financial Diet_ by Chelsea Fagan

- _Thinking, Fast and Slow_ by Daniel Kahneman

_Recommended Resources:_

- _NerdWallet's Psychology of Money_

- _The Motley Fool's Behavioral Finance_

- _Investopedia's Behavioral Finance Course_

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There are several ways to make money online in Nigeria with little or no capital investment. It doesn’t matter if you are unemployed, full-time employee with a major corporation, a stay at home mom, a university student, or a job-seeker, fashion designer, or any job. All you require is knowing how to use the internet.

The internet has made life so easy that you can get a business for yourself in minutes, hours and days within the digital scale with no too much stress. No matter where you live, as long as you have an internet connection, you can always make money online. In this article, we would implore some legit ways to make money online. https://www.schooldrillers.com/ways-to-make-money-online/

1. Website development

Learn how to develop websites, start by learning HTML & CSS and then you can go with how to build wordpress sites.

You will find Many online tutorials for free . All you have to do to be patient and learn how to do it step by step and work hard on it and you will have it…

Once you learn you can make Money through the freelancing websites or even work with big companies from home… And you can build complete websites and sell it on Envato Market.

2. Online Books publication

Okadabooks is an online website in Nigeria that makes it fast, easy and free to publish books online. This is not limited to books alone but also short stories, reviews or anything worth reading. The best part is that Okadabooks allows users to monetize each book published which means you get paid when any of your publications are downloaded or read.

3. Sell Designs & Creatives Online

Do you have some basic design experience? Printivo Online Store is a marketplace that allows anyone to upload and sell designs to customers. Each time a Printivo customer makes use of your design or orders a print with your design you get paid 15% of the value of the design by Printivo.

4. List on Property Websites

Do you know of any property available for rent or building for sale in your area where you live? You can always earn a quick agency fee by posting available properties in your area on property websites such as Tolet, Jumia House & Private Property. All you have to do is to register as an agent and you are good to go.

5. Start a Blog or a Vlog

Yes, good old blogging is still chugging along in 2017. By providing valuable content on a regular basis you attract like-minded prospects who are interested in information and products related to your niche. The more traffic you have the more money you can make by monetizing your blog. For Vlogging, you can get started by creating a Youtube channel as a platform for distributing your video contents.

6. Sell on E-commerce Websites

Another legit way to make some extra cash online in Nigeria is by selling on e-commerce websites. Jumia, Konga, PayPorte are all e-commerce websites that allow a merchant to list and sell products online for free. This list of websites exposes your product to a huge chunk of online audiences that you will not be able to access offline making it easier and faster to sell and make more money online.

7. Affiliate Marketing

If you’ve got a good presence on social media or perhaps you even have a blog or website, you can start bringing in money immediately by promoting all sorts of companies, products, services and offers online. You can even apply to affiliate programs of some notable brands in Nigeria such as Konga and Jumia Affiliate Program.

8. Offer Professional Services Online

Another way to make quick and legit money online is by freelancing. Most freelancing websites allow you to leverage your skills to earn some quick cash online. Common skills in demand for online services like these include content writing, social media management, website design, graphic design, search engine marketing, etc.

9. Become a Virtual Tutor

Another way to make money online is by teaching others what you know. You can become a virtual tutor and engage in one-on-one tutoring sessions or even host Webinars to help people directly with any number of topics. Nigerian websites like Tutors NG allows users to monetize their knowledge by creating online learning materials for others in need of specific knowledge.

10. Online Surveys

An increasingly popular way to make money online in Nigeria is to fill out online surveys. This can be done in your spare time. Research companies are always recruiting new members to answer surveys and test new products. For a few minutes of filling online surveys, you can make some quick cash as a reward.

11. Apps & Websites Testing

The main aim is to improve online experiences for everyday internet users. Internet companies are always looking for real people like you, to test out new or existing mobile apps and websites so that website owners, coders, and designers can see and evaluate the obstacles that real people experience with their products. Most of the companies reward the testers in cash for each app or website tested (Check out User Testing).

12. Email Marketing

Build up an email list and sell courses and ebooks based on that topic!

You can easily Build an email list by offering a free Book or course from your own products and let the user download it from their email.

Or using many tools online to build this list like Facebook, Instagram, Snapchat, others.

Now that you have a list provided them with value, it’s time to think about the ways you can make money with your newsletter.

The most important thing to remember when exploring ways to monetize your email list is to make it relevant to your audience.

You can use your list and make money by:-

Affiliate marketing

Sell your own products

Get paid to send your subscribers to other sites

Sell sponsor ads

13. Language Help

If you know more than one language you can help others by:-

Why not build an online course and sell it on udemy.com or any other sites which sell courses… Or perhaps, Work as freelancer translator on freelancer.com, upwork.com.

14. Write an Ebooks

Write an in-depth ebook about something you love and are good at. Sell it on Amazon, affiliate programs, Facebook, Instagram and other ad platforms!

If you are good at anything, it’s researching and writing. With the Amazon Kindle store, anyone can publish an eBook and make money.

And the Kindle app is now available on almost any device (laptops, iPads, smartphones and yes, Kindles) so your global market is huge!

List your book for £1.49 – £6.99 and you earn 70% of the sale. Considering Amazon is the ultimate selling machine (and remember people are looking to spend), that is a fantastic deal.

The key to success with eBooks is to create value, and write non-fiction. Simply bundling information you have researched and compiled on a common problem (eg. ‘secrets’ to finding a job) and then presenting it in an easy to digest format (an eBook) justifies someone spending a few quid on it.

Another big tip is to have a great cover designed so it stands out, and once your book is live on the Kindle store it’s really important to get some reviews so it shows up higher in results. Encourage readers to leave an honest review at the end of your book.

The best thing about this lucrative idea is that once you’ve invested the time (say 20 hours), you’ll earn a passive income for years to come.

Source: Read more tips here