Do you want to save up for something special? Are you tired of being broke? These are both solid reasons to put extra cash in your pocket.
Then again, maybe you’re tired of debt and you need to pay off your balances. Regardless of what’s going on in your financial life, earning extra money is easier said than done. Like most people, the income you earn from work may be just enough to cover your living expenses. This leaves very little disposable cash for extras.
You have a choice - either accept your current financial situation for what it is, or brainstorm ways to put extra cash in your pocket.
1. Get a second job. I know, the idea of working an additional two or three hours at a part time job after work may leave a bad taste in your mouth. But if you have financial goals, such as paying off debt or saving up for a down payment, getting a part-time job can put you on the right path. Think of this as a temporary solution as you reach for larger financial goals. To reduce the stress of working a second job, look for a position that you can really enjoy.
2. Tutor kids. If you’re a teacher or simply knowledgeable in a particular subject, put your skills to good use and tutor kids who need help in a particular area. Tutoring can be a lucrative part time gig as you can charge between $15 and $25 per hour, depending on your area. Offer your tutoring service for 10 hours a week, and you can earn a minimum of $150 a week – that’s an extra $600 a month. Think of what you can do with this extra cash in your pocket. This can jump start your personal savings account, pay off a credit card or help pay for maintenance around your home.
3. Sell gold and get a great return for cash. Maybe you need immediate funds to pay a bill or cover another unexpected expense. Although you can always turn to cash advances and payday loans, these alternatives are costly. Gold is a better option. Do you have broken or old gold jewelry lying around? Rather than having these pieces take up space in your jewelry box, sell your unwanted gold jewelry for cash. Gold is at an all-time high, and the return for cash might surprise you.
4. Make use of your hobbies. What do you enjoy doing in your spare time? Can you make jewelry? Do you have an eye for interior decorating? Believe it or not, your talents can be a side business waiting to happen. Turning your hobby into a money making machine is the best way to put extra cash in your pocket. And since you’re profiting off your hobby, this results in work that’s satisfying and enjoyable.
5. Offer babysitting services. If you work full time, you probably can’t offer your services during the day. However, some parents need babysitters at other times of the day, and many parents are willing to pay good money for help. Tap into a niche. For example, maybe you can provide second or third-shift babysitting services for parents who work these schedules. Additionally, you may offer weekend care or market yourself as a “date night” babysitter, thus allowing parents to spend an evening together.
As you can see, there is no shortage of ways to put extra cash in your pocket. Stop complaining about your lack of disposable cash and change your mindset. Get proactive, think outside the box and you can increase your earnings.