Good morning! Let’s talk about some practical ways to bring in extra income, especially in today’s economy where every bit helps. You might need to get a little creative though, as competition is fierce in every industry. Put in some effort, learn the ropes, and network, and you’ll likely see some rewarding results. Any extra money you earn can boost your savings or retirement funds while your main income covers your daily expenses. You might not get rich, but it can definitely help you reach your goals.
### Freelance Work
These days, many small businesses prefer outsourcing to avoid hiring full-time employees. Websites like FreeLancer.com, Fiverr, ELance, and ODesk let you offer services like data entry, copywriting, web design, programming, and translation from home. Your earnings will depend on your skills and the time you’re willing to commit.
To get started, you’ll need to create a profile showcasing your education and experience and set up a PayPal or MoneyBookers account for payments. Be cautious with employers who aren’t rated well since they might not pay reliably. Freelancer.com offers a milestone program where you can secure partial or full payments in an escrow account to be released upon job completion.
If you’re specifically interested in writing, consider working with larger online media companies like Quinstreet, Investopedia, Examiner, or Babble.
### Direct Selling
Direct sales companies such as Avon, Mary Kay, and Amway offer opportunities to sell their products directly. You could make about $115 a month on average, but this depends on your level of activity and effort. You’ll also need to report your income to the IRS as an independent contractor. If you have a large social circle, you might find it easier to succeed by selling to friends and acquaintances.
Alternatively, you can sell products for local manufacturers or retailers who aren’t nationally known by setting up an eBay or Amazon store. Discuss wholesale prices with the company to help them expand their reach.
### Sell Clothing
Got clothes you no longer wear? Consignment shops will sell them for you, taking a 10% to 20% commission. Your items need to be clean and in good condition. If you’re willing to put in some extra work, you can sell them online, potentially turning this into a small business. Consider the success story of Sophia Amoruso of NastyGal.com, who built a $100 million business by selling fashionable finds from thrift stores.
### Start A Small Business or Work Part Time
If you have skills like fixing appliances, handyman tasks, or yard work, a part-time business can help you earn extra cash. Promote your services using word of mouth, community bulletin boards, and local newspaper ads. Services like cleaning houses, dog walking, or childcare are always in demand.
However, with the Affordable Care Act requiring health insurance, part-time jobs at companies like Starbucks, UPS, Costco, Lowe’s, Home Depot, Safeway, and Kroger might be attractive since they offer benefits for part-time employees. These jobs typically pay between $8.00 and $15.00 per hour.
### Get A Roommate
If you have an extra room, consider renting it out to share expenses. Make sure your lease or condo association allows subletting. Always have a written agreement outlining terms, especially if your roommate is a friend or family member. Splitting costs can make life easier and provide you with a steady income each month.
### Get Rid of Stuff You Don’t Use, Including Jewelry
For quick cash, sell your unwanted or broken gold jewelry. With gold prices high, even old pieces can be valuable. Sterling silver flatware can also be profitable, but silver jewelry often isn’t heavy enough to yield much.
If you’ve been paying for a storage unit for more than six months, it’s time to sell the stored items and stop the rental fees. Many facilities will even let you hold a sale on-site. This not only clears up space but also provides immediate cash.
### Use Your Car For Advertising
Turning your car into a moving billboard can earn you between $100 and $600 per month. Businesses pay to wrap your car in their advertisements. Just fill out an application on the company’s website detailing your driving habits. If selected, you’ll need to drive a certain number of miles each month to keep the contract. The ads can normally be removed without damaging your car.
There are many other ways to earn extra income, especially if you have internet access. Use platforms like Amazon’s Mechanical Turk to complete small tasks and make some money. With a bit of creativity, you can find multiple ways to supplement your income and save for future goals.