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9 Easy Ways to Make Extra Money This Year

Make Extra Money

It seems like everyone has a side hustle these days–taking surveys, renting out their spare room or selling unwanted clothes. But not everyone knows how easy it is to make extra cash.

It’s as simple as grabbing your phone and scanning your receipts with apps like Ibotta, Receipt Hog or Dosh. You can even get paid to shop and deliver groceries through Shipt.

1. Freelance

Whether you’re an expert social media manager, a talented math tutor, or just a good cook, there are countless ways to turn your expertise into freelance income.

Even basic skills, like taking photos of homes, can be turned into a profitable side hustle by selling them on stock photography websites.

Be prepared to put in the time to constantly network and pitch your services. And make sure to open a business bank account, like N26’s free one for freelancers and self-employed people, so you can separate your personal and work income.

2. Work from Home

Work from home jobs provide a flexible income option that allows you to pick up where you left off in the office. Plus, the perks of working from home can be a great way to combat in-office stress.

For example, if you have a knack for baking and cooking you can earn money by selling your products online or at local events. You can also make money from Visit extracasheachmonth.com projects or teaching music lessons.

3. Guest Room Rental

If you have a spare room in your home, you are sitting on a goldmine. Many people have beautiful rooms that never get used and this is a perfect way to make some extra cash. It’s also a great alternative to having a roommate.

The process is easy and you can be up and running in just a day. This is one of the best ways to monetize your home without sacrificing any flexibility.

4. Ask for a Raise

If you’ve been doing a great job at your company, it might be time to ask for a raise. Just be sure to do your research first. “It’s essential to gather credible industry salary data for your specific role and geography,” Ducot says.

Chopra also cautions against complaining about your current pay or threatening to leave, which will make the conversation adversarial and less likely to lead to a positive outcome. She recommends scheduling a meeting with your boss in person or via video conferencing.

5. Flip Houses

Flipping houses may look easy on television, but making a profit from this endeavor requires both time and money. In addition to purchasing and renovating a home, you must also pay mortgage costs, property taxes and insurance.

To maximize profits, find a home in a desirable location where construction costs are low. And remember, the longer you own a house before it sells, the less profit you’ll make.

6. Uber/Lyft

Rideshare companies offer a convenient, affordable alternative to taxis. Plus, you can set your own hours.

Just make sure you stock your car with barf bags (trash bags work, too) in case of nauseated riders. Also, be prepared to cover messes like stains and tracked-in mud.

On-demand delivery services like Instacart and DoorDash can earn you extra money. But beware of peak times and the high costs of gas, snacks, and maintenance on your vehicle.

7. Sell Gift Cards

Many people have gift cards that go unused. By selling them online, you can turn those cards into cash you can use for something else you want or need.

There are several websites that will buy your gift cards. Most will give you the money through PayPal or a prepaid card. Some may also offer you a store credit in exchange for the card. Make sure to read the fine print!

8. Rent Out Your Home or Spare Bedroom

Whether you rent out your spare room or have a separate space like an above-garage apartment, this can be a great way to bring in extra income. However, you need to do it correctly. Written lease agreements, inspections, tenant screening and addressing maintenance issues are all part of being a landlord.

You’ll also be responsible for the utilities in this scenario, so it is important to weigh that against the potential additional income.

9. Invest

If you’re not comfortable with the risk of investing your money, consider switching to a high-interest savings account. They offer 5-6x the national average interest rate and require little effort on your part.

Selling your old phones, technology, and other gadgets is a great way to make some extra cash. There are many sites that will pay you for your electronics, including Mercari and ThredUp. There are also apps like Trim and Billshark that can help you cut your subscription services, utilities, and other bills in exchange for a small fee.

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