We all know the importance of not putting all of your eggs in one basket. Relying on one salary or source of income can be detrimental, especially in this economy. And besides, who couldn’t use an extra couple of hundred bucks each month. Here are a couple of interesting ways to put some greenbacks in your wallet without relying on your day job. Remember, it would be better to make a little money from 10 different sources than a lot from 1, because if you lost one, it wouldn’t be nearly as devastating.
Note that this isn’t passive income. Most of these ideas require you to do real work, not just sit back and somehow get rich. Still, many of these ideas can generate a respectable side income, and when you do more than one of them you can get a good amount of cash flowing in.
Sell Stuff: This one’s pretty simple, and that’s why it’s first. Look through your old stuff. We stockpile so much stuff throughout the years, and much of it we don’t need. Go through every room in your home. Make a list of the things that you don’t need but could get make a couple of bucks off. Even if you don’t think it’s worth much, other people might. Get those textbooks, old gadgets, computers, kitchen stuff, and even your spare parts in your garage together. Your best selling sources will be Ebay and Craigslist.
Develop Useful Skills: There are many ways to make money without requiring a full time job or getting a degree. Here are a few that I’ve learned so far. Web Design and development, graphic design, photomanipulation, computer maintenance, hardware and software installation, and lots of other computer stuff. I’ve also learned how to use TurboTax effectively, and help many of my friends with their taxes.
Learn to Maintain or DIY: There’s no easier way to save money than to learn to do things yourself. For example, a quick tune-up on your car could cost hundreds of dollars, but many tune-ups can be done yourself, with very little expertise. A little home maintenance could cost you thousands, but with an instruction book and a little sweat, you could do many things yourself for a fraction of the cost to contract the work.
Make Friends in Other Professions: People love to know people who can do things that they can’t. I have a great friend who helps me with personal finance and investing, another who’s a neuroscientist, and another who is a performance car mechanic. Needless to say, we all have skills that we can share, collaborate on, and trade. I’ve been refered to build websites for many friends, and most of the time by these same friends who know very little about web design. And I’ve sent many people to them. Do good work for a friend and they’ll be your best salesman.
Make Hobbies Into Businesses: Who says you can’t be an accountant by day and a rock star by night? Sure you may never go platinum, but that’s no reason not to get a band together and perform a couple of local gigs. Many times you can find a paid gig in your area if you search enough. The same goes for sports (give lessons to children), writing (resume writing and editing, paper writing, etc), photography, videography, quilting, scrapbooking, and practically any other hobby you’ve picked up throughout your years. Never picked up a hobby? Maybe todays the day!
Vending Machines: Know of a place where a vending machine would be great? Maybe vending machines could be your business. I’ve known a fella who made his entire living just managing those quarter machines with gum balls and M&Ms in them.
Gardening: First of all, let me say this: there is nothing more rewarding then building or growing something with your own hands. Gardening is one of those things that is just fulfilling in every aspect. Pick some of your favorite fruits and veggies and get a garden growing. Sell your excess at your local farmers market.
Buy/Sell: Here’s an idea that I really liked. A friend of mine loves cars. He loves working on them, he loves driving them, he loves detailing them, he loves it all. He saved up a few thousand dollars and is now working to grow it. What does he do? He gets on Craigslist, finds a decent car that isn’t too expensive, buys it, and cleans it up. He details it, does a few maintenance things, drives it for a couple of days, and then lists it right back on Craigslist. He tells me he’s never sold a car for a loss. Not bad if you ask me.
Freelance Your Job Skills: Unless you’ve been made to sign some sort of waiver saying that you will not use your job skills outside of your job, this one is a no brainer. If you are an accountant, I see no reason why you should not be using those skills outside of your job, even if only to make some pocket change on the side. Mechanics do it, web designers do it, and you can do it too.
Teaching/Tutoring/Mentoring: You have knowledge that other people want. We all know something worth knowing. And beyond the financial factor, teaching is one of the most rewarding things you can do. Whatever is in your brain can be used to make money. Figure out what you’re good at, and offer to do it for a small fee. Craigslist is great for this too.
So there you have it… 10 simple ways to fatten your wallet. And you don’t even have to learn much or sacrifice much to start these. Just work with what you have. Imagine if you only did 3 of these per month and each could only provide you with $100 per month. Is $300 per month for doing the things you already know how to do not worth it? For this recent college graduate who’s just gotten his first full time salary job, it definitely is.
I’ll take that to the bank!
