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25 Things to Sell to Make Extra Money Easily

25 Things to Sell to Make Extra Money Easily

Making money can often seem more difficult than ever before. Many people rely on pawn shops and Craigslist ads to get a little extra money when things get tight.

The good news is, you don’t have to hock your computer or your great-grandmother’s prize china to make ends meet. Why not put your computer to work for you?

Here are 25 things to sell to make money right from the comfort of your own home:

1. Old stuff

If you don’t use it, why shouldn’t you make a little money on it? Selling old household items and clothing you’re not using anyway is a great way to clear out your storage areas and make some cash at the same time!

2. Handmade goods

If you are handy with arts and crafts, you can sell these through sites like EtsyArtfireHandmade at Amazon and Cargoh. It may not make you rich, but it can make a great sideline income.

3. Opinions

Everyone has an opinion on something. Why shouldn’t you get paid for yours? There are websites and companies that are willing to pay for your input and ideas on making their products and services better! For example, you can writer reviews on places you go on Yelp!

4. Car advertising space

If you’ve ever seen a vehicle wrapped in an ad for a company, the logical conclusion is that the person driving it works for the company. This is not necessarily the case, however.

Companies will pay from $400 to $900 a month or more for you to turn your car into a mobile billboard for their product or service, which is the same as covering your rent and possibly a load or two of groceries for most places! Wrapify is one of those companies.

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5. Spare room in your house

Renting out a room in your house may not seem like a great idea. But if you can find a solid and reliable tenant, renting a room is a great way to make extra money while helping someone else get on their feet.

Depending on the rental market in your area, you can rent a room for anywhere from $150 to $1,000 a month or more. Check out Spareroom and you can rent your room within days.

6. “Flipping” items

Sometimes you have to spend money to make money. Buying items from eBay, Etsy or even Craigslist, rehabbing them, and turning them around for sale can net you big profits. A good rule of thumb here is to never spend more than 75% of the item’s list price and never accept less than 25% more than you bought it for.

7. Old books

If you have a bunch of old books you don’t read anymore, someone else might want them! Used bookstores will often pay you store credit at 50% of what the books can sell for, or 25% of their value in cash. This is another great way to clean house and clean up at the same time!

Try your nearby local bookstores or sell books on Decluttr or Amazon.

8. Gold jewelry

With gold at record high prices per troy ounce, it’s a great time to weed through your jewelry drawer or box and get rid of some of that hideous jewelry you inherited or were given by well-meaning but clueless friends or relatives.

Gold’s value fluctuates, but you can expect to make around $600 an ounce or more, meaning you could be sitting on a treasure trove of spare cash!

9. Recyclable materials

Bottles, cans, bags, newspapers… the list of things that can be recycled just keeps getting bigger. Check out your local recycling center’s website and start a collection bin for the things they take. Recycling is not just good for the environment, but it’s great for your wallet!

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10. Photos

How would you like to turn your amateur shutterbug hobby into a money-making profession? Sites like 123RF.com and Shutterstock are always looking for new photos to license. The best part of doing this is, posting your pictures can turn into a perennial revenue stream that pays you over and over for those pictures you thought no one would ever want!

11. Plasma

Blood banks always need plasma and blood products to help treat sick and critically injured people. Depending on your blood type, you could turn your blood products into a helpful source of extra income.

12. Sperm

Not everybody is comfortable with the idea of selling their DNA. However, for couples who have a hard time conceiving by traditional methods, this can help them know the joy of parenthood and help you out by giving you some bucks. Win-win situation!

If you are fit and healthy, you can become a sperm donor here.

13. Egg cells

Egg cells are by far the most sought-after and costly form of conception assistance. A woman selling her eggs could realize upward of US$10,000 on one batch, making this a very lucrative way to help yourself while helping others create a new life!

If you are healthy, you can become an egg donor here.

14. Ideas

Your ideas may actually be worth money. Writers, journalists, and people in all manner of professions are always looking for new and innovative ideas. Many of them are willing to pay good money for your thoughts and ideas. Example of this are Innocentive.com and Leonardo League.

15. Video gaming skills

Believe it or not, people can actually get paid to help online video game players navigate puzzles, defeat bosses and solve troubleshooting issues. Being a video game consultant is a good way for gamers to make money while helping newbies get through that infuriating level you had so much trouble with. It could pay you up to $50,000 a year!

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16. Shopping sense

Companies like to know what the customer experience is like on their sites and in their stores. Why not become a mystery shopper?

Mystery shoppers can make a full-time income by working only three to four hours a day, making this a great solution for stay-at-home moms and people who want to pull in extra money without committing to a full-time schedule.

You can get mystery shopping opportunities via Mobee app or Marketforce.

17. Services

Do you like kids, pets, or seniors? Why not sell your time taking care of and keeping other people’s loved ones company? This is a good way to get in some socialization and pick up some spending money.

You can check out petsitting opportunities at Petsitters or childcare opportunities at Sitter.com.

18. Freelance work

If you are handy with a turn of phrase, you can turn this into income by selling your work to e-publishers, article-writing sites and even self-publishing. It’s a good way to meet new people, make new connections and generate income! Find out more about this at Freelance Writing Jobs.

19. Consultations

Doing consulting work can be fun and rewarding, and it pays well if you are really good at what you do. Tutoring, helping build a better website or even giving interviews and information for books and articles can all help you make extra money while doing things you’re truly passionate about. There are some companies that look for consultants: FlexJobs and Upwork.

20. Blog advertising space

If you have a blog, you could be making money at it. High-traffic blogs with interesting or controversial material can be leveraged to create an additional revenue stream for minimal work on your part. Selling blog advertising can help you draw more traffic to your own site and pull in extra money just for the time it takes to post a sponsored ad!

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21. Editing services

Maybe you are not a writer but you know good writing when you see it and know how to make it better. If you’ve ever said, “If this writer had just used this word,” you have the potential to be a freelance editor.

Freelance authors are always looking for editorial input at reasonable prices. Expect to break even or maybe lose a little money short term if you do this. But as your reputation and that of your clients grows, you can bet you’ll start making great money for doing something you do for free anyway! Fiverr offers many of such opportunity.

22. Articles

People with a flair for words and a unique way of getting their point across are worth a lot of money to blog owners, and they’re willing to share. Textbroker.com is one of those great places to make money off your ability to communicate!

23. Art

If you like playing with computer graphics and images, and you enjoy imagining characters from books on the screen, you have everything you need to be a cover artist. A good freelance cover artist can make $75 or more per cover created, and many cover art sites even do discount specials on premade covers to help generate business. Fiverr also offers many of such opportunity.

24. Photo manipulation skills

If you are good with Photoshop or Gim, and like restoring or manipulating photos, you can turn your hobby into revenue. Photo retouching, eye color correction, and even image cropping for holiday and birthday cards are all possible ways you can make money on your photo-fixing chops. Check out Fiverr for anyone looking for photo editing skills.

25. Your business mind

Maybe you have a new take on an old business model, or want to try a new approach to an idea you’ve always wanted to work on. Why not start your own business? The out-of-pocket expenses could go as little as $15-20 a month or as high as your budget will permit. But remember you have to spend money to make money!

There are companies like IdeaBuyer that help to turn your idea into a real business.

Starting your own business can be a very satisfying way of making money on your terms and your schedule. The income potential is really limited only by what you are willing to invest in your success.

Featured photo credit: Unsplash via unsplash.com

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Last Updated on August 20, 2019

How to Set Financial Goals and Actually Meet Them

How to Set Financial Goals and Actually Meet Them

Finances can push anyone to the point of extreme anxiety and worry. Easier said than done, planning finances is not an egg meant for everyone’s basket. And that’s why most of us are often living pay check to pay check. But did anyone tell you that it is actually not a tough task to meet your financial goals?

In this article, we will explore ways on how to set financial goals and then actually meet them with ease.

5 Steps to Set Financial Goals

Though setting financial goals might seem to be a daunting task but if one has the will and clarity of thought, it is rather easy. Try using these steps:

1. Be Clear About the Objectives

Any goal (let alone financial) without a clear objective is nothing more than a pipe dream. And this couldn’t be more true for financial matters.

It is often said that savings is nothing but deferred consumption. Therefore if you are saving today, then you should be crystal clear about what it is for. It could be anything like kid’s education, retirement, marriage, that dream vacation, fancy car etc.

Once the objective is clear, put a monetary value to that objective and the time frame. The important point at this step of goal setting is to list all the objectives, however small they may be, that you foresee in the future and put a value to it.

2. Keep Them Realistic

It’s good to be an optimistic person but being a pollyanna is not desirable. Similarly, while it might be a good thing to keep your financial goals a bit aggressive, going out of the line will definitely hurt your chances of achieving them.

It’s important that you keep your goals realistic in nature for it will help you stay the course and keep you motivated throughout the journey.

3. Account for Inflation

Ronald Reagan once said – “Inflation is as violent as a mugger, as frightening as an armed robber and as deadly as a hitman”. And this quote sums up the best what inflation could do your financial goals.

Therefore account for inflation whenever you are putting a monetary value to a financial objective that is far away in the future.

For example, if one of your financial goal is your son’s college education, which is 15 years hence, then inflation would increase the monetary burden by more than 50% if inflation is mere 3%. So always account for inflation.

4. Short Term vs Long Term

Just like every calorie is not the same, the approach towards achieving every financial goal will not be the same. It is important to bifurcate goals in short term and long term.

As a rule of thumb, any financial goal, which is due in next 3 years should be termed as short term goal. Any longer duration goals are to be classified as long term goals. This bifurcation of goals into short term vs long term will help in choosing the right investment instrument to achieve them.

More on this later when we talk about how to achieve financial goals.

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5. To Each to His Own

The journey of setting financial goals is an individualistic affair i.e. your goals are your own goals and are determined by your want to achieve them. A lot of times we get on the bandwagon of goal setting only to realize later on that it was not meant for us.

It is important that your goals are actually your goals and not inspired by someone else. Take a hard look at this step at all the goals you’ve set for after this step, you will be on the way to achieve them.

By now, you would be ready with your financial goals, now it’s time to go all out and achieve them.

11 Ways to Achieve Your Financial Goals

Whenever we talk about chasing any financial goal, it is usually a 2 step process –

  • Ensuring healthy savings
  • Making smart investments

You will need to save enough; and invest those savings wisely so that they grow over a period of time to help you achieve goals. So let’s get down to ensuring healthy savings.

Ensuring Healthy Savings

Self realization is the best form of realisation and unless you decide what your current financial position is, you aren’t heading anywhere.

This is the focal point from where you start your journey of achieving financial goals.

1. Track Expenses

The first and the foremost thing to be done is to track your monthly expenses. Use any of the expense tracking mobile apps to record your expenses. Once you start doing it diligently, you would be surprised to see how small expenses add up to a sizeable amount.

Also categorize those expenses into different bucket so that you know which bucket is eating the most of your pay check. This record keeping will pave the way for cutting down on un-wanted expenses and pump up your savings rate.

2. Pay Yourself First

Generally, savings come after all the expenses have been taken care of. This is a classical mistake which almost everyone of us do. We pay ourselves last!

Ideally, this should be planned upside down. We should be paying ourselves first and then to the world i.e. we should be taking out the planned saving amount first and then manage all the expenses from the rest.

The best way to actually implement is to put the savings on automatic mode i.e. money flowing automatically into different financial instruments (for example – mutual funds, retirement corpus etc) every month.

Taking the automatic route will make us lose control of our money and hence will compel us to manage in what’s left with us thereby increasing the savings rate.

3. Make a Plan and Vow to Stick with It

Budgeting is the best to get around the uncertainty that financial plans always pose. Decide in advance how spending has to be made.

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Nowadays, several money management apps and wallets can help you do this automatically. It’s easy and who knows, you may just end up doing what people fail to do.

At first, you may not be able to stick to your plans completely but don’t let that become a reason why you stop budgeting entirely.

Make use of technology solutions you like. Explore options and alternatives that let you make use of the available wallet options and choose the one that suits you the most. In time, you will get accustomed to making use of these solutions.

You will find that they make it simpler for you to follow your plan, which would have been difficult otherwise.

4. Rise Again Even If You Fall

Let’s be realistic. It’s not like the world will come to an end if you made one mistake. This isn’t called leniency but discipline.

If you fail to meet your budget for a month, don’t give up the entire effort just like that. Instead, start again.

Remember that flexible plans are the most realistic plans. So go forward and try to follow your financial goals as planned but if for some reason, the plan gets out of hand for you, do not give up on it just yet. This has a lot to do with your psychology rather than any material commitment.

All you have to do is to stay on the road and vow to stay on it, no matter how much you fall down.

5. Make Savings a Habit and Not a Goal

In the book Nudge, authors Richard Thaler and Cass Sunstein advocate that in order to achieve any goal, it should be broken down into habits since habits are more intuitive for people to adapt to.

Make Savings a habit rather than a goal. While it might seem to be counter intuitive to many but there are some deft ways of doing it. For example:

Always eat out (if at all) during weekdays rather than weekends. Usually weekends are expensive. Make it a habit and you would in turn be saving a great deal.

If you are travelling buff, try to travel during off season. Your outlay will be much less.

If you go out for shopping, always look out for coupons and see where can you get the best deal.

So the key point is to imbibe the action that results in savings rather than on the savings itself, which is the outcome. Focusing on the outcome will bring out the feeling of sacrifice which will be harder to sustain over a period of time.

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6. Talk About It

Sticking to the saving schedule (to achieve financial goals) is not an easy journey. There will be many distractions from those who are not aligned with your mission. And it would be rather easy to lose the grip over your discipline.

Therefore in order to stay the course, it is advisable that you keep yourself surrounded with people who are also on the same bandwagon. Daily discussions with them will keep you motivated to move forward.

7. Maintain a Journal

For some people, writing helps a great deal in making sure that they achieve what they plan.

So if you are one of them, maintain a proper journal, where you write down your goals and also jot down the extent to which you managed to meet them. This will help you in reviewing how far you have come and which goals you have met.

Use this journal to write down all essential points such as your short term, mid term and long term goals, your current sources of income, your regular expenses which you are aware of and any committed expenses which are of recurring nature.

When you have a written commitment on paper, you are going to feel more energised to follow the plan and stick to it. Moreover, it is going to be a lot more easier for you to follow you and track your progress.

At this point, you should be ready with your financial goals and would be doing brilliantly with savings; now it’s time to talk about the big daddy – Investments.

Making Smart Investments

Savings by themselves don’t take anyone too far. However savings when invested wisely can do wonders and we are at that stage where we will talk about making smart investments.

8. Consult a Financial Advisor

Investments doesn’t come naturally to most of us therefore rather than dabbling with it ourselves, it is wise to consult a financial advisor.

Talk to him/her about your financial goals and savings and then seek advice for the best investment instruments to achieve your goals.

9. Choose Your Investment Instrument Wisely

Though your financial advisor will suggest the best investment instruments, it doesn’t hurt to know a bit about them.

Just like “no one is born a criminal”, no investment instrument is bad or good. It is the application of that instrument that makes all the difference.

Do you remember we talked about bifurcating financial goals in short term and long term?

It is here where that classification will help.

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So as a general rule, for all your short term financial goals, choose an investment instrument that has debt nature for example fixed deposits, debt mutual funds etc. The reason for going for debt instruments is that chances of capital loss is less as compared to equity instruments.

10. Compounding Is the Eighth Wonder

Einstein once remarked about compounding,

Compound Interest is the eighth wonder of the world. He who understands it, earns it… He who doesn’t… Pays it.

So make friends with this wonder kid. And sooner you become friends with it, quicker you will reach closer to your financial goals.

Start investing early so that time is on your side to help you bear the fruits of compounding.

11. Measure, Measure, Measure

All of us do good when it comes to earning more per month but fail miserably when it comes to measuring the investments; taking stock of how our investments are doing.

If there is one single step where everything (so far) can go wrong, it is at this step – Measuring the Progress.

If we don’t measure the progress timely, then we would be shooting in the dark. We wouldn’t know if our saving rate is appropriate or not; whether financial advisor is doing a decent job; whether we are moving closer to our target or not.

Do measure everything. If you can’t measure it all yourself, ask your financial advisor to do it for you. But do it!

The Bottom Line

This completes the list of tips for you to set financial goals and actually achieve them with not so great difficulty.

As you can see, all it requires is discipline. But guess that’s the most difficult part!

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Featured photo credit: rawpixel via unsplash.com

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