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20 Creative Ways to Earn Money

20 Creative Ways to Earn Money

Perhaps your regular job is not earning you enough money, or you have just lost your job. If you are looking for new and creative ways of making money, then look no further!

1. Take online surveys.

People these days make as much as 500 dollars a month filling online surveys. Some online survey sites areToluna, VivaticMySurvey, YouGovSurveyBodsValued Opinions, The Opinion PaneliPollGlobal Test Market, HivingPanelBaseHarris PollOpinion Outpost, YourwordPineconeIPSOSNew Vista. You can make as much as 5 dollars filling out some surveys.

2. Sell your knowledge in book-form.

If you have some knowledge on a particular topic and you love to write, you could write a book. You can publish to the Amazon Kindle store and keep 70% of your earnings.

3. Join a direct-selling company.

Some people earn as much as a six-figure salary selling products of brands they love. However, some brands require resellers to pay money up front to get started with these programs.

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4. Sell your photos.

The photos you take can be sold to photo agencies like IStock or Shutterstock. Each time someone downloads your photos you get 25 cents.

5. Start your website/blog.

You could earn a six-figure salary annually from your blog or website. Through affiliate marketing, Google adsense and subscribers, you could rake in some cash.

6. Become a freelancer.

You could make money by selling your unique set of skills as services. You could try doing web design, content writing, and programming for many clients. Many people who do this earn between $40k to $100k a year.

7. Be a secret shopper.

Being a secret shopper means visiting shops to provide feedback to agencies on how their products are doing. The smartphone app Streetspotr could be helpful in the direction of getting mystery shopping job.

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8. Sell your junk.

By selling junk on popular site like eBay could earn you as much as $2,000–$3,000 a month. You can sell what you no longer use, or you could buy other used items and sell those.

9. Do small tasks for businesses.

Small businesses need translators and transcribers, while others need people to write product reviews. You can earn a pretty decent amount from doing this.

10. Rent out your room.

You could take in a boarder to rent out an extra room. This could put more cash in your pocket if someone moves into your room or even onto your couch

11. Start a small or part-time business.

You could have an expertise or hobby which you could turn into a small part time business. Part time jobs like teaching guitar lessons and picking up trash for neighbors have been become profitable for their creators.

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12. Be a coin collector.

You could buy coins from banks in large stock and find the ones that are worth something. Perhaps you’ll find a silver coin or gold coin, or a rare item. According to a CNN article, “presidential dollar errors can be worth $50 to $5,000 each; uncirculated state quarters can sell from $10 to $50 per roll; and rare error coins can value up to $35,000″.

13. Be a music reviewer.

If you are a music lover, you can make money reviewing artists online for cash with Slicethepie. Some users of the site claim to earn as much 60 dollars a month on the site.

14. Buy and sell domain names.

A domain name is a website address. You can buy a domain name for as cheap as $3, but you can resell such an address as a premium domain to someone who needs it for as much as $2,000.

15. Walk dogs.

If you love walking and exercising, you could rake in cash by walking dogs for people who are busy or at work. All you need to do is reach out to dog owners and market yourself.

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16. Be a ghost writer.

The publishing business is experiencing a big boom with online publishing. You could advertise your skill to persons who will be interested in allowing you to ghostwrite their work.

17. Sell your services on Fiver/Craiglist.

You could make money selling small services on Fiverr and craigslist. The default price on Fiverr is $5, but you can quickly make this amount add up depending on how many gigs you take on.

18. Sell old water at busy and hot vacation spots.

Busy vacation spots could be ideal for selling cold water or lemonade. The demand is high and also the profit margins in certain locations like Las Vegas.

19. Become a tutor.

You could become a tutor to high school or A-level students and local GCSE students. You could also do this online and earn as much as 10 dollars per hour.

20. Sell old CDs, games and movies.

You could sell old CDs, games, and movies for free on Amazon Trade-In or MusicMagpie. You can earn anything from 20 cents to 30 dollars per item.

Featured photo credit: http://www.pixabay.com via pixabay.com

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Casey Imafidon

Specialized in motivation and personal growth, providing advice to make readers fulfilled and spurred on to achieve all that they desire in life.

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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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