We could all use a little extra money at the end of the month, whether we’re saving for something big or not. Sometimes it feels like the only thing standing between us and our dream bank balance is the bills we have to pay each month. Fortunately, in this day and age there are many ways we can generate a little extra income so our wallets aren’t too thin at the end of the month. You’re only limited by your free time, your credit history, and your creativity. Keep reading to find out how you could have extra money at the end of the month.
Make Money Online
Thanks to the internet, there are many legit ways to make money online, either full time, or whenever you have a few minutes to spare. It’s easy to find something that fits into your schedule, and it’s possible to make enough to supplement your income.
Doing surveys online is becoming increasingly popular with students and other busy people because very little effort is required. Dedicated survey takers can rake in around £200 a year. Signing up is easy, but you should know that you won’t be making a lot of money right away. Still, this is good way to save up for your Christmas expenses. Be careful, not all survey sites are created equal. Some are legit and pay a decent amount of money for your time, but others either take longer to pay the same amount, or they’re scams.
If you have a great writing style, you can structure an article and try to pitch it to an online magazine or your local paper. You might only earn a small amount at first, but once you’ve built up a reputation you can start charging more for your articles. Alternatively, you can apply for a part-time position with a content writing company and write as many articles as you can in your spare time. All you need to make this possible is a laptop and a good internet connection. Do some research and find out if there are any freelance websites looking for writers.
Make money from your website
The easiest way to turn a part-time hobby into a money-making scheme is by making money from your website. Even if you’re not one of the lucky few able to make enough to quit their day job, you might still generate enough income to pay your domain expenses. The quickest way to make money from your website is through affiliate marketing – which is where you endorse products you like to your subscribers. If your audience is interested in the product, they click on an affiliate link, and you get a split of the sale price if they purchase the product. Do some research and find other ways you can make money from your website.
YouTube is an excellent site for earning money. When you upload your videos you can enable adverts and get paid each time somebody watches them. Over a billion people visiting YouTube every single month so finding viewers for your videos isn’t difficult. You can offer language lessons, tips on how to play an instrument, or a review of a movie you’ve recently seen.
Sell your things online
The next time you’re trying to purge your belongings, check if you your old clothes and electronic devices are still in good condition. If so, you might want to hold off donating them and try and make a little extra money. You no longer need to organize a yard sale or carry boxes of books to a second-hand store. Simply create a profile and sell your things on eBay or Amazon. If they don’t sell after a month, take them off your profile and donate them to charity. Even one sale is money in the bank. If you’re particularly crafty, you could also make money from your hand-knitted scarves by selling them on Etsy.
When you need to make money fast, a loan is usually what comes to mind. However, loans come with a lot of stipulations, and they may end up costing you more than you can afford. Not all loans are bad, however, but it’s good to be informed of all the different types of loans before you sign any documents.
If you need money to cover personal costs, such as a wedding, then a personal loan is the best option. Unlike mortgages, small business loans, or car loans, personal loans don’t have a designated purpose. You can borrow as much as you need, although if you ask for more than £25,000 the lender might ask you to put up an asset. You’ll get a fixed interest rate and you can pay it back over a number of years. However, if you do have a specific need for this loan, you should enquire if there is a type of loan for it.
A logbook loan is a type of secured loan which relies on an asset as collateral, in this case, your car. If you own a vehicle that is less than ten years old, and you have a full MOT, then you’re pretty much guaranteed to qualify for a logbook loan, thus avoiding the need to jump through any hoops like you would with a bank loan. The amount you get will depend on how much your car is worth. However, you should know that if you default on your loan, the lender will take possession of your car to cover the interest. It’s risky, so it’s worth thinking about before you apply.
Payday loans are designed to be short term loans to help you get from one payday to the next. However, people tend to accumulate debt on this kind of loan if they aren’t able to pay it off within a 28 day period, thus increasing the cost due to high interest rates. However, if you’re reasonably certain that you’re only experiencing a temporary setback, then a payday loan might not be a bad solution. If you only needed to borrow a fairly small amount, a Payday Loans Net loan could be quickly paid off within the repayment period. As a quick and temporary solution, a payday loan is not a bad idea. People tend to get into the most trouble when they borrow large amounts for a longer period of time.
In Your Spare Time
Even if you don’t have the time (or the energy) for a second job, there are still many ways you can boost your income in your spare time. Some of the following options barely require any effort on your part.
Do you know how to play an instrument, speak a second language, or just happen to be really good at math? There are plenty of people out there who could use your skills. As a tutor, you could choose your own hours to fit around your family and other commitments, and you could charge what you feel is a fair price. Before you start advertising, however, be sure this is something you’d like to commit to, because you could be doing this for months at a time. It’s very inconvenient to your students if you suddenly decide to cancel all your classes. If you decide to go through with it, you can advertise for free on your own website.
Rent out your spare room
Sure, you could use your spare room as an office or home gym, but you could also use it to make a bit of extra money. If you’re open to the idea of having more people living in your house, then why not rent out your empty bedrooms to a lodger. It could be a student from a local college, an exchange student, or someone who’s moved for work but hasn’t been able to sort accommodation yet. Each of these options means you’ll have a temporary tenant, so you can try it out for a few weeks to see if you like the arrangement. At the very least, you’ll be getting help paying the bills, and maybe some help around the house if your tenant is considerate about the mess they make.
If all your rooms are currently occupied, then you might consider renting out your parking space or your garage. Startup bands are always looking for relatively cheap places to rehearse, and your parking space will be in high demand if you live near a tourist spot, airport, or sports stadium.
Help with odd jobs
Remember when you used to get paid to mow the lawn? Websites like TaskRabbit allow people in certain cities to list tasks they need help with like picking up a parcel or moving home that they are willing to pay for. This is perfect if you have a bit of free time on your hands. You will have to go through a quick verification to become a helper, but otherwise you’re free to pick and choose your jobs.
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