For many people, paychecks barely last the month. Fortunately, there is a myriad of ways to earn some incremental income for household needs, debt retirement, college savings, and the like. Indeed, earning a little extra income and putting it into a systematic savings and investing program may be just the way to get on a better financial track.
There are many great ways to generate additional income, and you definitely aren’t limited by age or experience. Here are a few top ideas to consider:
Sell your old stuff
Many people have lots of stuff in their homes that they no longer use. Do yourself a favor – collect it, organize it and sell it! One of the simplest ways to do this is by having a garage or patio sale. Make it a social event and invite your neighbors to join in. Do you have old textbooks, manuals, or other old books in boxes in your attic? If so, get rid of them and rake in a little money while doing so. Several online book stores will also buy old books if you don’t want to hold a yard sale.
Pay with cash
It’s common knowledge that people who pay for items with cash generally spend less than if they pay with credit cards. Try paying only with cash for one week. If you do use credit cards, pay them off fully each month and shop for the best credit card deals.
Start a “side hustle”
Are you skilled at a certain craft? Can you tutor someone? As you think about your areas of expertise, consider monetizing them as a “side hustle”, which is the current buzzword for a side job you do for profit on your own time and on your own schedule.
Review your insurance costs
We need insurance to protect ourselves from catastrophic losses that could devastate us financially. Nevertheless, most people do not review their insurance costs on a regular basis. It’s a good idea to look over your insurance coverages and costs at least annually. By shopping around, you may be able to save quite a bit on premiums each year.
Get paid for your opinion
How would you like to be paid for giving your views on a wide variety of topics? You can do just that with online paid survey companies.
These firms will compensate you for your opinions regarding companies, brands, social phenomena, and organizations. You can even turn the tables on Amazon and make money from them by offering your opinion. Here’s how: Become an Amazon Mechanical Turk. A “turk” performs any number of microtasks, many of which are opinion surveys, when and if they want. Let the extra cash roll in!
Summary thoughts
These are but a few of the ways by which you can make extra money. Find the ones that resonate with you. Begin with a positive attitude and add an action plan – you’ll soon be on your way.