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20 Simple And Creative Ways to Earn Money

20 Simple And Creative Ways to Earn Money

We could all use some extra cash. Whether it’s to pay off your debts faster, save up for a vacation, or buy yourself that new gadget you’ve been wanting, it’s always helpful to have that little extra in your pocket. Luckily, there are a myriad of ways to make yourself a nice little side income, and you can do these whether you have a full time job or you’re looking to work from home. Try these tips out and start earning now:

1. Sell your old clothes

You’ve probably got old clothes sitting in your closet that you’ve forgotten all about. Clear them out and sell them online on sites like eBay or ThredUP. With ThredUP, you can get paid almost instantly if you’re selling less than $60 worth of clothes. Clear out the clutter and make some money along the way. It’s a win-win.

2. Tutor children

This tip works especially well for students, as they can tutor in the subjects they’re studying themselves. Teach the subject you enjoy and set your own hours. Sign up with a website such as Tutor.com and make around $9 per hour to start with.

3. Become a mystery shopper

Love shopping? Become a mystery shopper and get paid to go shopping. Sign up with a site like Marketforce and pick out assignments to do. Go undercover in stores and restaurants. Then, fill in the form after your visit and collect your money. The profit you make isn’t large, maybe a couple of dollars on a typical job, but it’s a great way to get your meals out and other luxuries paid for.

4. Scan your receipts for cash

You have to buy your essentials regularly, so why not earn some extra money for doing so? The Ibotta app offers rebates on certain products, from milk and eggs to luxury products like Birchbox subscriptions. If you’ve purchased something included in the app, use your phone to scan your receipt and get a rebate. The rebates vary in price, from 25 cents for a can of Reddi-wip to $2 for a bottle of sunscreen, but they can quickly add up.

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5. Recycle your phone

If you’re about to upgrade your phone, don’t let the old one sit around doing nothing. Try a site like The Whiz Cells, which will find the best price and buyer for your phone. The money you make depends on the model and condition of your handset. For example, an iPhone 4S in good condition can go for around $60.

6. Drive people around

If you have your own car and want to work flexible hours, working as a driver for Lyft could be for you. Lyft is an app that lets people request drivers near them. It promises to be quicker than hailing a traditional cab. As a driver, you can make around $35 an hour with them.

7. Rent out your house

Do you have a spare room you never use, or are you often away from home? Why not rent out your space to travellers for cash? Airbnb will let you list your place for free, and you can set your own availability and pricing. What you can make varies, but this blogger made $2,276 a month renting her place out.

8. Do surveys online

Many companies are looking for people’s opinions to improve their products and advertising, and they will pay you for your feedback. Sign up with a site like Swagbucks or MySurvey and fill out surveys in exchange for points, which you can cash in for Paypal payments or coupons for your favorite stores. What you earn depends on how many surveys you complete, but the smallest payout on MySurvey is $10, which you can earn rather quickly.

9. Get paid to tweet

If you have a large Twitter following, companies may want to pay you to promote their products by Tweeting about them. Companies such as Sponsored Tweets will pay around 50 cents to $20 per Tweet, depending on your audience and the age of your account.

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10. Rent out your driveway

If you have a parking space that you aren’t using and you live in a busy area, you may be able to rent it out to others. It’s free to advertise your spot on sites like Just Park, and you can make up to $150 a month.

11. Sell your photos

Are you a keen photographer? Businesses are always looking for stock photography, so why not sell your snaps? There are plenty of sites that will sell them for you, such as Shutterstock or Getty Images. Starting out, you can make roughly $50 a month, which can go up if your photos are in demand.

12. Participate in medical studies

If you have a flexible schedule and are fairly healthy, this may be for you. Payments can vary depending on what study you take part in, but some people can make a decent living by becoming human guinea pigs. Try sites like the NIH Clinical Center to find studies you may be eligible for.

13. Search the web

Why not get paid for something you do anyway? Qmee puts an ad on onto your browser and rewards you for using your favorite search engine. When you click on a sponsored link, you’ll be rewarded. There’s no minimum payout, so you can claim your rewards quickly. One tester made $1 on their first search, which they could claim straight away.

14. Review websites and apps

Many companies are looking for people to test their websites for usability. User Testing lets you sign up to test and answer questions about these sites, earning $10-$15 for about 20 minutes of work.

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15. Start a blog

If you have a special interest and can write entertaining and interesting prose, you can be a blogger. Pick your subject, start writing, and start building an audience. Bloggers have said that they can earn between $1,000 and $10,000 a month when they become established.

16. Sell your notes

If you’re a diligent student, make some cash from those who aren’t. NoteSale lets you upload your notes and sell them to your less-dedicated classmates. You can make roughly $3 per set of notes, but you can make more if they’re typed up, rather than handwritten.

17. Do odd jobs

Lots of people have odd jobs around the house that they’d rather not do, and that’s where you come in. For traditional jobs such as lawn mowing or painting, try sites like Craigslist. If you can offer a more unusual service, such as designing a logo or even pretending to be someone’s girlfriend on Facebook, try Fiverr, which lets you sell any job for $5.

18. Be an affiliate marketer

Do you have a lot of sales know-how but no product to sell? You could do well as an affiliate marketer. Promote other people’s brands and products, and when they sell, you get a cut of the price. If you do well, you can earn around $100 a day. Try out Amazon or Clickbank to get started.

19. Try new products

Some companies will offer users money to try out new products and services. If you sign up to a site like CashCrate, you can get these products sent to you. Once you’ve tried them, you’ll be paid. Most users average between $25-50 a month.

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20. Write articles

Much like blogging, if you’re good at turning out entertaining and informative articles, you can make money from it. Try sites like Article Sale and Ghost Blogger to get started. Payment depends on length and quality of articles, but on average you can expect around $25 per article.

For most people these days, it’s getting increasingly harder to feel content working at a 9-to-5 desk job, let alone survive on a single stream of income. Dissatisfaction with jobs not only leads to burn out, high stress levels, and loss of health – it also explains why billions of dollars are wasted on loss of work productivity.

Thanks to the internet, there are hundreds of ways to offer your services and reach those willing to pay you. Make the most of your spare time and make some money on the side — whether it’s to supplement your income or put away for a rainy day.

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Anum Yoon

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Last Updated on July 10, 2020

The Definitive Guide to Get out of Debt Fast (and Forever)

The Definitive Guide to Get out of Debt Fast (and Forever)

Debt can feel crushing, like a weight that is always weighing you down. Looking at those numbers, it can feel as if you’ll never get out from under it. However, if you really want to learn how to get out of debt, it is possible with a great deal of focus and self-control.

Getting out of debt isn’t impossible. Like any big goal, all that it takes is an action plan to identify where you are and creating a plan to zero out your debt.

Identifying All of Your Debts

The first part of paying off your debt is getting a complete picture of what you owe. When you have everything written out in front of you, it makes it much easier to create an action plan. Depending on how much you owe, it might also help you realize it’s not as bad you might have originally thought.

Here’s how you can get started identifying your debts:

1. Own Your Debt

Before you start identifying all of your debts, take a moment to process that you have debt but want to get out of it.

Forgive yourself for any past mistakes, missed payments, or overspending. It might be painful to accept how much debt you have at first, but you must own it.

2. Make a Debt Tracker

It’s astonishing how few people ever created a tracker to understand their total debts. Most likely, it comes from not wanting to accept the guilt of having debt, but, if avoided, it can make it nearly impossible to get out of debt.

Open up a new Google or Microsoft Excel sheet and list out all of your debts. Start with the name of the creditor, interest rates, total balance, loan term length (if any), and the minimum amount due each payment. This will include student loans, credit cards, and any other type of debt owed.

3. Get Your Debt Number

Once you’ve made your debt tracker and taken the other steps, identify your total payoff number. This is crucial, as you will have a starting point and a clear goal that you are trying to achieve.

Prioritizing Your Debts

All debt is not created equal. It’s imperative to understand that there are different types of debt.

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1. Understand Bad and Good Debts

Bad debts are usually paying for things you want instead of always need. While there might be some emergencies that max out your credit cards, often times it’s excessive spending[1].

There are three main types of bad debt:

  • Credit Card Debt: The average American household owes over $16,000 in credit card debt!
  • Auto Loan Debt: According to CNBC , the average auto loan in the US is $30,032!
  • Consumer Loan Debt: Consumer loan debt isn’t as common as credit card and auto loan debt, but it’s still considered bad as interest rates are usually between 10-28%.

Good debt is identified as investments in your future. Here are three common types of good debt:

  • Student Loan Debt
  • Mortgage Loan
  • Business Loans

2. Decide Which Debt to Pay off First

Once you know each type of debt and their interest rates, you can begin to pay off debt quickly.

Focus on paying off bad debt first, regardless of if it is a credit card or auto loan. Start by paying off the loan with the highest interest rate first.

If you have several credit cards with different interest rates, you want to focus on the one with a higher APR. You will actually save more money by eliminating the card with the highest interest rate.

3. Don’t Pay the Minimum Amount

Paying the minimum amount digs you into a hole as interest rates will offset your payment. Even a small amount more than the minimum can help you pay off debt much faster.

Removing Obstacles to Pay off Debt Quickly

Creating a debt tracker and prioritizing a plan is simple, but avoiding temptation can be difficult.

1. Set a Reminder to Track Your Debt

“If you can’t measure it you can’t manage it.” -Peter Drucker

It’s so important to track your debt to ensure that you get it paid off quickly. Similar to working out and measuring your results, you need to track your debt constantly. Start with a weekly reminder, where you sign on and log your updated number. Did you increase, decrease, or stay the same?

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Regularly tracking your student loan balance can be incredibly motivating, as well. You will get a huge confidence boost each time you see your total debt amount decreases.

Set weekly and monthly goals so you can have short term wins and keep the momentum going.

2. Hide Your Credit Cards

If your biggest debt is credit cards, you need to eliminate temptation and remove them from your wallet.

Some people have gone to extreme measures by freezing their credit cards. Why? This would create an ice block around your card, which would require you to chip away at it slowly. This will give you time to think if it’s the best idea to buy that thing you’re about to buy.

3. Automate Everything

Willpower can be a huge downfall to paying off your debt. By automating your bills each month, you will ensure that willpower isn’t involved.

4. Plan Ahead

Getting out of debt will require some sacrifices, but with enough planning, you can make it work.

For example, if you know that you have a friend’s birthday or family dinner coming up, plan ahead for the costs. Whether you need to cut back on spending the week before, pick up a side job, or meet them after dinner, do what is needed.

5. Live Cheaply

The only way to get out of debt is to make some sacrifices on your spending habits. Find ways to save money each month so you can apply that amount to your outstanding debts. Here are some ways to save money each month:

  • Live with roommates
  • Cook dinners and prepare lunches for work instead of eating out
  • Cut cable and choose Netflix or Amazon Prime
  • Take public transit or bike to work

Finding the Lowest Interest Rates

The higher your interest rates, the harder (and longer) it will take you to pay off any debt.

If possible, you want to find ways to lower your interest rates to help get out of debt quickly. Here’s how you can get started:

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1. Maintain a High Credit Score

Your credit score will have a large impact on your ability to refinance your loans and receive a lower interest rate. If you have a low credit score, it’s unlikely you will be able to refinance your loans. Use these credit tips to increase and maintain an excellent score:

  • Never miss a payment
  • Don’t exceed 30% of your credit limit
  • Don’t sign up for more than one card at once
  • Limit hard inquires, like auto-loans and new credit cards
  • Monitor frequently with free credit-tracking software

2. Find Balance Transfer Offers

Start by opening a free account on credit.com. Credit.com offers you the chance to open a free account and see what type of balance transfer offers you can receive. Some of your existing credit cards might already have 0% or lower APR balance transfer offers available.

Contact each of your credit card providers to ask about lowering your rate for a one-time balance transfer offer[2].

If you do take advantage of this option, make sure that you use a balance transfer and not a cash advance. Cash advances have a ton of high interest fees (15-25%, depending on your credit card) and will only compound your debt problem.

How to Get Rid of Debt Forever

Setting up a plan, removing temptations, and getting the lowest interest rates is the first step to get out of debt.

1. Keep Monitoring and Adjusting

Once you have a plan, don’t get comfortable. Track your debt payoff plan and make the necessary adjustments when needed.

Monitor your credit scores with a free site like CreditKarma. The higher your credit score climbs, the more likely you will be to secure a new, lower-interest loan.

2. Earn More Money

There are only so many ways to save money. Instead of clipping another coupon or making sacrifices for your morning coffee, find ways to earn more money!

Think about it…it is much easier to find ways to earn an extra $1,000 per month than find $1,000 to cut from your budget.

Here are some examples of ways to earn more money:

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Talk to Your Boss

Have a conversation with your boss about current salary and/or commission rates. If you’re not satisfied or want a change, don’t be afraid to look around at other positions. Some of them might even have a student loan debt reimbursement plan!

Start a Side Hustle

This could be coaching students on the weekends, driving for Uber, or taking paid online surveys. There are tons of ways to make money outside your 9-5. Now that you have a clear plan to pay off your debts, you’ll be more motivated than ever to figure out creative new ways to earn money.

Build an Online Business

There are so many websites and blogs that earn money from ads, affiliates, and other online products. Find your niche and get started.

3. Celebrate Your Wins

As you progress in your debt payoff journey, don’t forget to celebrate your wins. You need to always reward yourself for the hard work and discipline that is required to get out of debt.

While you shouldn’t celebrate so big that it increases debt, make sure to factor in little rewards to keep you motivated.

4. Set New Financial Goals

Eventually, with a plan and these steps, you can rid yourself of your debt. Once you do, make sure to celebrate your monumental achievement, but don’t stop there.

Now, you can focus on acquiring wealth and increasing your net worth. Set new financial goals so you have a new target to aim toward. Here’s how to set financial goals and actually meet them.

These could be anything now that you are debt free! Think about where you want to travel, buying your first home, or saving for your future retirement. Just like before, make sure that your goals are specific, measurable, and achievable.

Conclusion

Congrats, you can now set a plan in motion to finally pay off your debt quickly (and hopefully forever)!

Remember, if you want to get out of debt quickly, it’s not always easy. Just like any big goal, there will be sacrifices, challenges, and problems to overcome.

More Tips on Getting out of Debt

Featured photo credit: Pepi Stojanovski via unsplash.com

Reference

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