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How to Make Money Fast: 10 Easy Ways to Make Money in the next Hour

How to Make Money Fast: 10 Easy Ways to Make Money in the next Hour

The average savings rate for an American under 35 right now is -1.8 percent. (Yes, negative.)[1] Coupled with declining salaries from large companies[3] and the rise of the “gig economy” (where payments don’t always occur at stable times), there are often situations now where (especially young) people need to know how to make money fast.

Of course, thousands of sites — maybe even millions — claim to offer ways to make money fast, or to teach you some hack about how to make money fast, but the sites are scattered and have varying degrees of validity. Many of us don’t know where to start, or if the site we found is reputable.

Our goal here is to fix that and to show 10 possibilities for how to make money fast.

1. Do One-off Selling on LetGo

LetGo is a great site for one-off selling to people in your neighborhood or general region. Anything with value, from clothes to old books and magazines, is going to be fair game.

You need quality images, some ideas of a valid price point, and the ability to upload. You can also cross-share on Facebook and Instagram to drive more traffic to the sale. People have sold everything from old pens to collections of Blue Apron recipes on LetGo and made money quickly.

2. Sell Overseas for a Better Price

Two good sites for this are Alibaba and Taobao. When you sell items that are local to you but to overseas customers, you can get better deals —  because things are often considered more valuable if they’re rare or imported from elsewhere.

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While it is possible to also sell services on sites like these, offering services from the U.S. to China might require consistent use of a private jet, and if that’s your situation, you probably don’t need this article in the first place.

3. Rent out a Room on AirBnB

AirBnB is an excellent way to make some additional cash. Many are now renting out their apartment and, using the funds from that rental, traveling the same weekend.

Most AirBnB hosts are still doing it for side/quick money, although there are six-figure AirBnB earners.[2] In 2016, about 75 people worldwide earned more than $1 million hosting AirBnB,[4] although admittedly earnings for hosts are higher in 15 cities globally.[5] (In general, a “good” AirBnB city can yield a host up to 81% of their rent.)

Signing up for AirBNB is safe and easy, here’re some handy tips to get started.

4. Rent out Parking Space with JustPark

You can rent out driveways, car parks, empty hotel spaces, etc. — and do so within the time windows that work for you with JustPark. There are a few limitations you need to be aware of, such as whether you’re the legal owner of the space (not a deal-breaker!) or whether the space requires FOB access. Check out the detailed requirements on JustPark here.

JustPark is a good revenue-generator for some, although the monthly earnings are likely to be less than AirBnB. One “hack” to know, though: JustPark listings that include Minimum Retail Prices actually — and counterintuitively! — make 4x the revenue of other listings on the service.[6]

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5. Writer Reviews as a Product Tester

This is a fairly easy one: visit a website/app, complete a series of tasks, and earn $10 per test on UserTesting. There are some necessary requirements, including:

  • A PC or Mac, an internet connection, and a microphone. You’ll need an iPhone, iPad, Android phone or Android tablet If you’d like to take Mobile tests.
  • Ability to download testing software.
  • You must be at least 18 years old.
  • Ability to speak your thoughts aloud in English.

6. Teach on iTalki

In short, you’ll get paid to help others learn a language. There are a number of benefits, including a flexible schedule and international payments. Close to 20 languages are currently available to teach in, with demand consistently growing.

iTalki takes about 15% of your earnings, and is best thought of as an extra income source — not a primary one. It’s a good example of how to make money fast though you won’t make a huge amount.[7]

Sign up and become a teacher on iTalki.

7. Do Pet Sitting

There’s an extensive database of pet sitting jobs available on PetSitter, which is a huge bonus for pet lovers looking for ideas on how to make money fast.

In addition to pet-sitting, there are a range of other pet-related activities (mostly dog-walking and feeding). The ceiling on pet-sitting earnings from this or other sites (such as Rover) is about $3,000-$4,000 per month, with most users making less than $1,000.[8]

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It depends on time available, market you’re operating in, and context. By “context,” one thing to note is that finding people who vacation a lot (empty nesters, retirees, etc.) will increase your recurring income from pet sitting. Once they trust you with their pets, they might hand you the contract for every vacation.

8. Get a Child Care or Home Care Job

You can find typically child care or home care jobs designed to fit your schedule on Care.com. The jobs will vary from babysitting to nanny work to after-school pickup to housekeeping, shopping, errands, and more. They do offer rate calculators for various services, such as babysitting, with larger cities starting around $20/hour relative to experience.

One advantage of making money on Care.com is the volume of jobs available is very high. If you have flexibility to combine different commitments, you can generate $1,500+/month from this site.

9. Become a Uber Driver

There have been lots of discussions about driving for Uber vs. Lyft and which is better for drivers (the argument varies), but Uber’s driver requirements aren’t hard to pass. Check out the requirements to become a Uber driver here.

Ride share driving is easy in terms of GPS navigation helping guide you, and the schedule is flexible. The actual hourly rate varies by city, but it’s usually $20/hour or under.[9]

It’s oftentimes hard for Uber to classify because they don’t designate their drivers as employees. When they advertise $40/hour (as has happened), that’s probably on the very high end.

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Now you can even get a guaranteed $275 for your first 40 rides with the invite code here.

10. Sell Your Talent at Fiverr

Fiverr is one of the more popular gig sites, with new projects requested every five seconds and about 25 million projects completed to date. There are about 100 categories to choose from including writing, animation, design, making products go viral, Facebook cover photos, voice-over, etc.

As a seller, you can charge anywhere from $5 to $995 for your package. They also have a “Pro” option now once you either prove expertise in a given area or work with a wide variety of clients.

People do make six figures on Fiverr,[10] although that’s admittedly rare — most people make about $300 to $500/month depending on their level of commitment to the platform.[11]

Start selling your skill at Fiverr.

The Bottom Line

There are many practical ways to make money fast online, typically through the emergence of new platforms. It’s important to remember the trade-off between flexibility and stability.

These approaches of how to make money fast will usually give you some degree of flexibility in when you work and how you earn, but they may not give you stability. If you have certain bills that are due at a given time each month (i.e. rent on the 1st), you will need approaches to how you save or periods of time you ramp up working.

Reference

[1] The Wall Street Journal: Younger Generation Faces a Savings Deficit
[2] Fast Company: Secrets Of Running A Six-Figure Airbnb Business
[3] Wharton: Why It No Longer Pays to Work for a Larger Firm
[4] Forbes: The 75 People Who Make $1M A Year From Airbnb
[5] Smart Asset: Where Do Airbnb Hosts Make the Most Money?
[6] Just Park: 7 Easy Ways To Increase Your JustPark Earnings
[7] glassdoor: iTalki
[8] New York Post: Meet the people making $3,300 a month pet-sitting for strangers
[9] The Washington Post: How much Uber drivers actually make per hour
[10] Forbes: How These 3 People Make 6 Figures A Year On Fiverr
[11] Joseph Feliciano: 22 Days On Fiverr + Income Report

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Brian Lee

Chief of Product Management at Lifehack

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Last Updated on July 8, 2020

How to Prevent Decision Fatigue From Clouding Your Judgement

How to Prevent Decision Fatigue From Clouding Your Judgement

What is decision fatigue? Let me explain this with an example:

When determining a court ruling, there are many factors that contribute to their final verdict. You probably assume that the judge’s decision is influenced solely by the nature of the crime committed or the particular laws that were broken. While this is completely valid, there is an even greater influential factor that dictates the judge’s decision: the time of day.

In 2012, a research team from Columbia University[1] examined 1,112 court rulings set in place by a Parole Board Judge over a 10 month period. The judge would have to determine whether the individuals in question would be released from prison on parole, or a change in the parole terms.

While the facts of the case often take precedence in decision making, the judges mental state had an alarming influence on their verdict.

As the day goes on, the chance of a favorable ruling drops:

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    Image source: Proceedings of the National Academy of Sciences

    Does the time of day, or the judges level of hunger really contribute that greatly to their decision making? Yes, it does.

    The research went on to show that at the start of the day the likelihood of the judging giving out a favorable ruling was somewhere around 65%.

    But as the morning dragged on, the judge became fatigued and drained from making decision after decision. As more time went on, the odds of receiving a favorable ruling decreased steadily until it was whittled down to zero.

    However, right after their lunch break, the judge would return to the courtroom feeling refreshed and recharged. Energized by their second wind, their leniency skyrockets back up to a whopping 65%. And again, as the day drags on to its finish, the favorable rulings slowly diminish along with the judge’s spirits.

    This is no coincidence. According to the carefully recorded research, this was true for all 1,112 cases. The severity of the crime didn’t matter. Whether it was rape, murder, theft, or embezzlement, the criminal was more likely to get a favorable ruling either early in the morning, or after the judges lunch break.

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    Are You Suffering from Decision Fatigue Too?

    We all suffer from decision fatigue without even realizing it.

    Perhaps you aren’t a judge with the fate of an individual’s life at your disposal, but the daily decisions you make for yourself could hinder you if you’re not in the right head-space.

    Regardless of how energetic you feel (as I imagine it is somehow caffeine induced anyway), you will still experience decision fatigue. Just like every other muscle, your brain gets tired after periods of overuse, pumping out one decision after the next. It needs a chance to rest in order to function at a productive rate.

    The Detrimental Consequences of Decision Fatigue

    When you are in a position such as a Judge, you can’t afford to let your mental state dictate your decision making; but it still does. According to George Lowenstein, an American educator and economy expert, decision fatigue is to blame for poor decision making among members of high office. The disastrous level of failure among these individuals to control their impulses could be directly related to their day to day stresses at work and their private life.

    When you’re just too tired to think, you stop caring. And once you get careless, that’s when you need to worry. Decision fatigue can contribute to a number of issues such as impulse shopping (guilty), poor decision making at work, and poor decision making with after work relationships. You know what I’m talking about. Don’t dip your pen in the company ink.

    How to Make Decision Effectively

    Either alter the time of decision making to when your mind is the most fresh, or limit the number of decisions to be made. Try utilizing the following hacks for more effective decision making.

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    1. Make Your Most Important Decisions within the First 3 Hours

    You want to make decisions at your peak performance, so either first thing in the morning, or right after a break.

    Research has actually shown that you are the most productive for the first 3 hours[2] of your day. Utilize this time! Don’t waste it on trivial decisions such as what to wear, or mindlessly scrolling through social media.

    Instead, use this time to tweak your game plan. What do you want to accomplish? What can you improve? What steps do you need to take to reach these goals?

    2. Form Habits to Reduce Decision Making

    You don’t have to choose all the time.

    Breakfast is the most important meal of the day, but it doesn’t have to be an extravagant spread every morning. Make a habit out of eating a similar or quick breakfast, and cut that step of your morning out of the way. Can’t decide what to wear? Pick the first thing that catches your eye. We both know that after 20 minutes of changing outfits you’ll just go with the first thing anyway.

    Powerful individuals such as Steve Jobs, Barack Obama, and Mark Zuckerberg don’t waste their precious time deciding what to wear. In fact, they have been known to limiting their outfits down to two options in order to reduce their daily decision making.

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    3. Take Frequent Breaks for a Clearer Mind

    You are at your peak of productivity after a break, so to reap the benefits, you need to take lots of breaks! I know, what a sacrifice. If judges make better decisions in the morning and after their lunch break, then so will you.

    The reason for this is because the belly is now full, and the hunger is gone. Roy Baumeister, Florida State University social psychologist[3] had found that low-glucose levels take a negative toll on decision making. By taking a break to replenish your glucose levels, you will be able to focus better and improve your decision making abilities.

    Even if you aren’t hungry, little breaks are still necessary to let your mind refresh, and come back being able to think more clearly.

    Structure your break times. Decide beforehand when you will take breaks, and eat energy sustaining snacks so that your energy level doesn’t drop too low. The time you “lose” during your breaks will be made up in the end, as your productivity will increase after each break.

    So instead of slogging through your day, letting your mind deteriorate and fall victim to the daily abuses of decision making, take a break, eat a snack. Let your mind refresh and reset, and jump-start your productivity throughout the day.

    More Tips About Decision Making

    Featured photo credit: Kelly Sikkema via unsplash.com

    Reference

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