Having extra income is always a nice bonus. After all, this money can be used to pay down debt or to put away for retirement savings. But no matter what you use it for, the hardest thing is figuring out how to get it. Everyone knows money doesn’t grow on trees, and when you already have a full plate balancing a full-time job and your other responsibilities (like family, volunteering, etc.), it’s hard to find. However, in order to get some extra cash, you don’t need to take on another full-time job. Instead, you can try one of the following methods.
- Reduce your expenses.
Sometimes you actually have more money than you think. The trouble is that you’re giving it away to utility companies and other miscellaneous businesses. By reducing your expenses, you can “earn” extra money without doing anything. For instance, take a look at how much you spend on certain bills. Can you switch auto insurance providers to get a better rate? Can you refinance your mortgage to lower your monthly payment? Can you stop paying for a hard copy newspaper and use the internet? Can you make breakfast at home instead of stopping at Starbucks every day on your way to work? By making these slight adjustments, you may find that you have a nice chunk of extra money to use at your discretion.
- Sell your skills.
Most people have a skill they enjoy doing. If you are one of these people, why not put your skill to work for you. For instance, if you enjoy knitting, why not start a small little business selling the items you knit? If you are a skilled graphic designer, make invitations or cards and sell them online. If you are a great baker, sell cookies or cakes as a way to make some extra cash. This may be work, but since it’s something you enjoy, it won’t feel like work. Plus, then you can get paid for tackling your hobby, and this can make it extra fun to enjoy.
- Do something from home.
With the way technology continues to advance, there are more and more companies out there who are using virtual help. Do some research and find a company that will allow you to do small amounts of work from home. This can be as simple as data entry to something more involved. Most of the time you can set your own hours and schedule, so you can easily make some extra cash without overworking yourself. Think of it as something you can do before or after work or on the weekends, and try to pick something that won’t stress you out.
- Sell your stuff.
Besides your skills, you can also try to sell your belongings as a way to generate income. Keep in mind that this will not be a continuous revenue stream, but it can help for a temporary need. Go through your closets, basement, attic, etc. and make a pile of the things you no longer need or want. Then, you can either have a physical garage or yard sale, or you can put the items on eBay, Craigslist, or another online selling site to help you generate some extra income by purging.
It may seem like an oxymoron, but you can actually get paid for donating. For instance, you can donate blood, bone marrow, or semen to certain banks, and they will pay you for this service. It’s not a lot of money, but it can help you make some extra cash. In addition, you can also look for companies in the area that will pay you for group research projects. Again, these may not offer a ton of money or be a consistent income, but they can help.
Making extra money is always a nice treat, but you want to be sure you’re making it in a way that doesn’t overwork you or stress you out. By using these tips, you can make some extra cash without having to take on another full-time job, and that is extremely rewarding.