Joseph Doohan About Earning Money at Home and Saving Money For the Future

Joseph Doohan is the owner of the Moneyjojo personal finance blog, which helps a worldwide audience save money and earn extra money online and offline. We spoke with Joseph about how young adults can make money at home and manage their income more effectively.

Tell us a little about your background. Why did you decide to start Moneyjojo?

I started Moneyjojo back in 2013, just after I graduated from the National University Of Ireland Galway. I was finding it hard to find a job, and I decided to create a blog to write and share ways to save money. At the same time, I was new to earning money using the internet, so I started trying different ways of making a living online. I found it difficult to start with, so I decided to help others by writing reviews of paid survey sites. Over time, the blog has grown in page views and on the various social media, particularly Twitter.

Since you just graduated from University in the past few years, do you think that you (and your peers) should worry about saving money right now?

In my opinion, we should always plan to put some money away for our futures no matter what stage of our careers we are at – even if it is just the beginning. The best way to approach this is to create a mindset for yourself. Always say to yourself, “I will set aside x amount each week.” This sum may be small; but when it comes to buying a car, a house, or whatever large investment may be required, it is always good to be prepared for the future – since none of us know exactly what is around the corner.

How well or poorly do you think that millennials handle personal finances?

I think millennials generally handle their personal finances fairly well. They are good at saving money to buy the things they love, including smartphones, tech, and fashion items.

What do you think are the biggest mistakes that young adults make when it comes to money?

When it comes to large expenses (such as car insurance, for example), young adults do not spend time trying to get the best deal for their requirements. Busy lifestyles mean that people look up comparison websites, see which company offers the cheapest insurance, and go with that insurer. Even if you get what you think is a good price online, you should always phone that insurance company and negotiate in an effort to reduce the price! Today, young adults, including myself, would rather not make a phone call because we have become over-reliant on communicating via instant messaging.

Since you’ve been successfully making money from home for a while now, could you tell us how much income someone could expect to earn working from home each month – and how many hours would they have to put in?

Making money from home is becoming ever more possible, and new opportunities are arising every minute on the internet. The key elements to making money online are patience, commitment, and persistence. The reason those elements are so important is the fact that it is really difficult to make money online overnight. It takes time to start earning an income. I can say that it took me over a year and a half of hard work to say that I was making a living from home.

When I started my blog in 2013, I was spending around 15 hours a week on creating content. At the same time, I probably spent 8 hours a week on answering paid surveys. I also spent a lot of time researching ways to make money online. Over time when the blog started making money, I understood what was working, what was not, and where my efforts should be focused.

Since there are so many ways to make money online, there are opportunities for everyone; so my advice would be to research and find what you love and stick to it – whether it be blogging about your interests or using your skills and providing freelancing services.

How much time you can put into it depends on your own lifestyle. Consider the time you spend watching TV, playing video games, or engaging in other activities that do not pay you money. This should provide you with a good indicator on where to start.

Do you view these moneymaking opportunities as a temporary way to earn some money, or do you see them as a springboard to a full-time income arrangement?

There are a lot of ways in which online jobs and internet money making opportunities can provide you with a full-time income. There are many bloggers who make their living solely online. Some have grown into media companies and even hire people to work for them.

Even smaller online opportunities like paid surveys can enhance your resume to better your chances of getting a full-time job. For example, if you were to add taking paid surveys to your resume, you would be showing that you have the initiative to try something new and are not afraid to voice your opinion on issues.

Do you have any tips for how millennials can get the most out of the income they earn?

Tip number one would be to review their savings account to make sure that they are getting the best interest rates and that they are not getting hit with banking fees.

Tip number two would be to never accept the first quote you receive for insurance (be it auto or health). It is important to shop around.

What do you see for the future of these work-at-home opportunities?

Work at home opportunities will be huge in the future. Companies are turning to freelancers to get tasks carried out, and are hiring sales and customer service staff to work from home in order to save office space. Paid surveys are not going away because opinions on ideas save money before large sums of money are spent on prototype products. Finally, blogging will be the main source of information in the years to come on how to do stuff and inform consumers about making a decision on their next purchase.