These days people are turning to alternate sources of income in order to supplement the money they make from their job. In many cases, they are doing this while at the same time working to save more money. While this may seem difficult at first, there are ways to earn extra income and save money at the same time. We’ll show you some of the ways to do this.
How to Earn Extra Income:
Get A Side Gig –
A side gig is similar to a part-time job but typically worked as a contractor instead of as an employee. Many side gigs can be done online, and the workers get paid per task rather than per hour. The downside here is that in many cases the amount earned via a side gig can be less than minimum wage. This makes it important to keep track of how much money is made per hour.
Monetize Hobbies –
Some people are able to earn extra income by monetizing their hobbies. This could be something like starting a YouTube channel for golfing, creating a fishing blog, or posting travel photos on social media. People will then have occasional product pitches or links to special deals. The ones that get really popular may even have sponsors.
Selling Stuff Online –
Is your basement, attic, or garage full of unwanted and unused items? One of the fastest ways to make extra money is to sell stuff online. Keep in mind that there is some work involved since sellers need to package and ship the items that are sold. Post any items that have value on eBay, Facebook Marketplace, or an online consignment store. If you don’t want to sell online, then have a yard sale or find a local consignment shop and try that. You’ll have less clutter and more money in the bank.
Freelance Writing –
If you enjoy writing, then you might want to look into getting paid to write articles or blog posts for companies online. It’s really easy to set up an account to collect the funds and post your work. Check out sites like https://www.elance.com/, http://www.freelancercareers.com/, and http://www.freelancewriting.com/.
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Take Online Surveys –
This can be a fun and rewarding way to make some extra cash. It’s not that time-consuming either. You just answer simple questions and give your honest opinion. Sign up for free with several survey sites and jump right in. Avoid sites that want you to pay for an account. There are survey scams out there, so do research and read reviews about the company.
Teach A Skill Or Talent –
You can try teaching a cooking class, knitting class, scrapbooking class, etc. at local recreation centers or community centers. Try picking up a swim teacher gig, if you’re a good swimmer. Keep in mind that some places may require a special certification. If you like yoga, check out what it takes to become a yoga instructor. There are always ways to make money teaching and showing people a new skill or talent.
Design Company Logos –
If you’re good with Photoshop or other design programs, you could make some decent cash by designing and creating company logos or banners. Companies usually don’t have the resources to design their own logos, so they look online for help with that. There are many freelance design sites that you could sign up with and get started making bids on projects. Just remember to use good time management when working on a project.
Focus Group Participant –
Become a member of a focus group in your city and get paid for participating. Call your local university, or museum, or look in your local paper for opportunities. Some of these studies include weight loss, quitting smoking, stress tests, etc. Not only would you make money, but you could also improve your health.
How to Save More Money:
Saving money is often times more simple than one would think when budgeting. This is because many people tend to live above their means, and once they see the actual numbers, they’re able to get their spending under control. Budgeting really just comes down to understanding how much money is coming in and dividing that into what can be spent and what will be saved.
Buy Generic Brands –
While many people view generic brands with a negative stigma, the truth is that, in most cases, they’re made by the same companies as name-brand products and are virtually identical. A lot of money can be saved by purchasing generic brands instead of paying extra for a name-brand product.
Save On Fuel Costs –
There are many ways to save on fuel costs for those who are smart about it. Carpooling with people in one’s area is a great option if using a vehicle is a must. If not, one can save money by biking or walking instead of using a vehicle. In some cases, hiring a ride service can be cheaper than owning a vehicle. One can also save money on fuel by shopping online, including grocery shopping.
Check Your Credit Score –
One of the best ways to save money is by checking your credit score and fixing errors on your credit report. The three major credit bureaus (Equifax, Experian & Trans Union) have a big influence on your current interest rates. Improving your credit score could save you money on interest payments. Check out Annual Credit Report for your free credit report once every 12 months.
Managing Finances –
Unfortunately, managing one’s finances isn’t something that’s taught in grade school in most areas. This leaves people struggling to figure it out for themselves, and most simply don’t. The good news is that the sooner a person learns to manage their finances, the better they’ll be able to take control of their saving and spending and improve their quality of life.