Lots of people will struggle with money at some point in their lives. In the current economic climate, there is no wonder that people are doing whatever they can to make extra income. Whether it be to support their family, save for their next vacation, or make next month’s rent, there are countless uses this extra income can be put towards. Though there are some ways of making small amounts of money, this often comes with a big time commitment. Instead, it’s best to find a solution which doesn’t absorb all of your time and gives you a sizeable money boost.
Ask for a raise
Often, people are stuck in the same job role for many years. Although this can usually lead to becoming higher paid, senior role, sometimes it’s unlikely you will get a raise unless you ask for it. It can be a daunting task, but ultimately the worst thing they can do is say no. Ideally, you should arrange to have a meeting with them, where you outline the reasons why you think you should have a raise. If you believe you have been working hard and deserve compensation for that, it could be that you start the search for a new job if your current employer does not recognize your potential.
Pick up a part-time job
It could be that you have a lot of spare time on your hands to make extra money. When this is the case, most people choose to take up an extra job. Having a flexible one like being a host at a restaurant or babysitting means you can fit in your shifts around other commitments. This is a particularly popular way among college students who need to pay for their tuition, but there is nothing to say that anybody can’t pick up a part-time job if they have the time. The key here is to ensure you still have enough time on your hands to lead a healthy lifestyle, where you make time to relax and spend with family.
Investing used to be a money-making tool used purely by those who were already rich. However, with the range of investing apps and online guides for beginners emerging in the market, anybody can become an investor if they have the money. To make sure you don’t lose money and see healthy returns on your investments, it’s a good idea to read the guides carefully to minimize the risk. Then, you should only use money from a specifically designated fund so that you don’t eat into any other money you may have. At the same time, any returns you gain can be put towards whatever you need, especially if they are large.
Sell unwanted items
Most households have lots of items lying around the house that they no longer need or want. On a free weekend, dedicate the time to decluttering your home and figuring out what you can sell in a yard sale or on online marketplaces like eBay. Clothes, vintage furniture, and jewelry are the most likely to sell for a higher price. To get a higher sum of money, it’s wise to become an online seller. However, if you are hoping to get money instantly, you should consider holding regular yard sales. This way, people will see something they like, and you can negotiate a price with them before they pay in cash. If you have a big family, get the whole family involved to maximize your profit.
Make use of your hobbies
It is not just used goods that people sell online. On sites like Etsy, people sell their own handmade crafts from their online store. Here, you can ask for a higher price than if you were to sell on other online vendors, but you do need to dedicate your time to ensuring your crafts are high quality. From clothing to ornaments, if you enjoy making something, there will usually be someone online who is willing to buy it. If you don’t have a crafty bone in your body, you can still make the most of hobbies like walking by downloading walking apps that pay you per mile walked. Over time, this can add up to a substantial amount, and it acts as a great incentive to be healthier.
Freelance writers will be aware that blogging can pay a good price if you know how to write well and market yourself. The best thing is there are a few ways you can do this. In the modern world, you can make use of your social media accounts to promote content on your own site, which would ideally include different forms of media besides writing. If you don’t have the time to run your own blog, you can guest blog on other sites and get paid to blog every time you do. It may not be a whole new income, but it will give you a great boost when you need it and ensures flexibility.
Become an online tutor
Tutoring has moved on from what it used to be. While picking up hours tutoring local people the skills they need will be a great way to make some extra cash, you can pick up more hours and a bigger range of students by becoming an online tutor. If you have studied a subject at a higher level to the students you are tutoring; then you will usually be qualified to tutor on it. When you start out, you can be looking at a regular pay rate, but this is something that increases quickly when you receive great testimonials and have experience under your belt.
Rent out your home
You will have heard of sites like Airbnb when you go on vacation. You could give renting out your own home a go, which will give you a sustainable income in the long run. There are two options here that you can follow: rent a spare room in your home to people, or rent out your entire holiday home in the months you are not there for. Not only will this require minimal effort, but it provides you with an extra income that you can’t find anywhere else.