With the coronavirus continuing to cause economic turmoil around the world, times are tough for a lot of people who haven’t gotten their extra stimulus money yet. Business development will help get the economy back on track in the future, but till then, job security looks far from assured these days. This is when it pays to take matters into your own hands and come up with ways to generate some extra money.
If you’re wondering how to make extra money, the good news is that you’ve probably got some options already close to hand. Whether you need to pay off your borrowing or just have some extra spending money in your pocket, a little determination and creativity can help all of us unlock our inner entrepreneur.
Take a look at these 6 best ways to make extra money, and you might be surprised at the returns.
A good old-fashioned yard sale is a simple and proven way to rustle up some extra money at short notice whilst also helping to declutter your home. You’ll probably have to take quite a chunk out of the original purchase price of the items you’re selling, but you will often find people more likely to buy on a whim.
When people can examine a purchase up close, they make a definitive decision on whether to pay or not. If you have children, you could get them to participate by making signs and hanging bunting, or even have them hand out some home-made cookies on the day to turn your event into a neighborhood party.
Many people make a lot of extra money buying and selling online. For some e-commerce enthusiasts, it’s actually their main source of income. If you have stuff lying around that you think you could do without and might fetch a good price, there’s nothing to stop you putting it up for sale on eBay or other more specialized merchant sites.
5 eBay Selling Hacks To Help You Become A Master SellerIf you're getting ready to declutter in the New Year, or if you've got a couple of duplicate Christmas Gifts then you may want to think about selling them online. If you're new to eBay, or haven't had much success in the past then
The beauty of selling online is that you’re offering your products to a huge number of people, many of whom are specifically searching for a particular item (so you don’t have to worry about the hard sell). Although a broader marketplace can mean lowering the price of an item to stay competitive, it does make it more likely that a sale will occur sooner rather than later.
Do you have any creative hobbies that you could make extra money from? Handmade goods are all the rage with online stores, and, again, you have a huge audience to sell to. If you like getting crafty, you could try selling your wares online.
The Do’s And Don’ts Of Online Craft SellingDoing crafts as a hobby can be remarkably therapeutic. But when someone feels that they’re skilled enough to turn what was previously a hobby into a new business, that’s a different approach altogether. In this article we look at how you can pick the
Painting, pottery, knitting, and jewelry making can all produce attractive goods that people will be interested in purchasing. Just be aware that it’s a crowded marketplace, so you may have to get a little extra creative to make your wares stand out. Just bear in mind that, legally, this counts as a side business, so you might want to do some bookkeeping for when your tax returns come around.
If you’re looking for side jobs to make extra money that aren’t too demanding, this is a handy option. Ask any parent and they’ll tell you that looking after dependents is a full-time job. However, even mom and dad need the night off every once in a while, so there’s always a high demand for babysitters, au pairs and nannies.
The best way to make a start is by advertising your services on caregiver sites where you can start to acquire reputation points that will make your profile look more attractive. Or if you know some friends of friends who have children that need looking after, you’ll find that a word-of-mouth network can be equally effective.
Pet owners face a similar dilemma if they need to leave their animals for an extended period. This is a more low-stakes alternative, but the demand for dog walkers and pet sitters is always high with plenty of work available.
If you have an unused room in your place, you could make that space pay by putting it up for rent and making extra money online from home. This could either be for a long-term sublet or short stays for travelers and holiday goers. You’ll have to commit some time and energy to provide a minimum of furnishings and making sure the room and linen are clean and tidy. But once your operation is up and running, the room will start paying for itself. You can also increase the price or offer a separate listing for a garage or parking space you may not be using. Just be aware that renting your room through online middlemen will usually result in them taking a cut of your extra money.
6. Tutor And Teach
If you have a talent or skill that’s in demand, you can make some extra money by passing on your knowledge to others. There’s good demand for educational tutoring and one-to-one lessons in the arts and core educational disciplines like math and English.
Maybe you’re a talented guitarist or a good painter. Or perhaps you want to help someone learn a foreign language that you’re fluent in. You can advertise your services online and also spread the word with paper advertising at any community centers or college campuses you might be living near.
When the going gets tough, it’s good to have some options for extra money hustles on the side that can help keep the loot coming in. Even if you’re just looking to make extra money on unemployment, every little can help.
Making extra money is also an opportunity for you to get creative and explore some new interests while your bank account gets fatter. Do you have any nifty money-making tips? Let us know in the comments section below.