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Last Updated on August 29, 2018

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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Published on May 7, 2019

How to Invest for Retirement (The Smart and Stress-Free Way)

How to Invest for Retirement (The Smart and Stress-Free Way)

When it comes to stocks, I bet you feel like you have no idea what you’re doing.

Everyone who’s not a financial expert has been there. I’ve been there. But, time is passing and you need to be crystal clear with how you’re investing for your retirement.

Otherwise, it’s back to work until you can afford not to. So, how can you invest for retirement when you’re not a financial expert?

You take the time to learn the fundamentals well. If you do, you can grow your wealth and retire happy. The best part is that you don’t need to be a financial expert to make smart investment decisions.

Here’s how to invest for retirement the smart and stress-free way:

1. Know Clearly Why You Invest

Odds are you already know why should invest for retirement.

But, maybe you know the wrong reasons. It’s time you get clear on why you’d like to retire. Here are some questions to help you get started:

  • Will you spend more time with your family?
  • What does retirement mean to you?
  • Are you looking to launch that business you’ve been holding off for years?

Everyone wants to retire but not for the same reasons. Once you’re clear for why retirement is important for you, you’ll focus on making it happen.

Investing in the stock market allows you to take advantage of compound interest.[1] All this means is that your money earns money on top of its interest. A reason why investment in the stock market is one of the best ways to plan for retirement.

2. Figure out When to Invest

“The best time to plant a tree was 20 years ago. The second best time is now.”– Chinese Proverb

It’s true if you’d had started investing when you were 10 years old, you’d have a lot more money than you do today.

The reality is that most people don’t start investing until it’s too late. So, if you’re currently waiting for the perfect time to start an investment, it would be today. Open your calendar and block out 2 to 3 hours to choose how you’ll invest for retirement.

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A quick way to get a snapshot of where you stand is to use Personal Capital. Input all your personal information and spend some time setting your retirement goals. Once completed, you’ll know where you stand with your retirement.

Having a savings account for retirement isn’t planning for retirement. Why? Your money loses value when you factor in US inflation.[2]

3. Evaluate Your Risk Tolerance to Create the Perfect Portfolio

Investing your money well depends on your emotions.

Why?

Because when the market drops most people panic and withdraw their money. On average, the US stock market yields an annual 6% to 7% ROI (return on your investment.) But, this won’t happen if you’re worried about short-term loses.

Before you invest your next dollar, know your risk tolerance.[3] Your risk tolerance determines the number of risky and safe investments you’d have.

Regardless of your investing style, you need to view investing for retirement as a long term game. Know that some years you’ll lose money but recoup this in the long-term.

Avoid watching market-related new. Also, create a double authentication to log in your investment account. This way you’re less likely to withdraw your money.

4. Open a Reliable Retirement Account

Depending on your circumstance, you may need to open a new brokerage account. This is the account is where you’ll invest your money.

If you’re currently working for a company, odds are that they offer a 410K investing account. If so, here’s where you’ll invest most of your money. The only problem with this is that you’re limited to the stock options that are available.

You do have the option to open a separate IRA (individual retirement account.) Here are some of the best brokers:

  1. Vanguard
  2. TD Ameritrade
  3. Charles Schwab

5. Challenge Yourself to Invest Consistently

Committing to invest for retirement is hard, but continuing to do so is harder.

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Once you’ve started investment for your retirement, you run at risk from stopping. Often you’ll want to contribute less, so you’d have more money in your pocket.

That’s why it’s important that you create a budget that allows you to invest each month. If you’re working for a company, you can set a percentage for the amount you’d like to contribute each month. Most people by default contribute 1% but aim to contribute 10% to 15%.

Be the judge for how much you can afford to contribute after covering important expenses. To stay motivated, use Personal Capital to view your net worth.

A benefit to contributing money to your retirement account is not taxed. For example, if you earn $100 and invest 10%, you’d contribute $10, then get taxed on the remaining $90. As of 2019, the most you’re able to contribute towards your 401K is 19K but this can change.

6. Consider Where to Invest Your Money

The most common way to invest your money is in stocks, but it’s not the only way. Here are other ways to invest:

Robo Advisors

Robo-advisors[4] are fancy algorithms that’ll choose the best investments for you. Sites like Wealthfront make it easy for first-time investors to invest their money. You’d input information about yourself and set your risk tolerance.

Then, set your monthly contribution amount and your robo-advisor would do the rest. Robo-advisors charge a fee to manage your money, but less than regular advisors.

Bonds

Think of bonds as “IOUs” to whomever you buy them from.

Essentially, you’re lending money and charging interest. Like stocks, not all bonds are equal. Some will be riskier than others depending on their rating.

Here are the different types of bond categories:[5]

  1. Treasury bonds
  2. Government bonds
  3. Corporate bonds
  4. Foreign bonds
  5. Mortgage-backed bonds
  6. Municipal bonds

Mutual Funds

Picture a group of people dumping all their money in a jar that’s managed by a professional. This is how mutual funds work. The fund manager manages the money looking to earn capital gains (interest.)

One of the best types of mutual funds is index funds. Since these funds don’t try to beat the market and instead follow it, they need less research. Because of this they often charge the lowest fees and yield the best long-term results.

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Real Estate

Yes, buying a home is an investment when done correctly.

Imagine buying a home and using it as a rental property. After repairing it, you receive a monthly surplus check of $100 to $200.

This may not sound like a lot, but repeat this process enough times and you’d earn a large amount of passive income. That’s why real estate is one of the best investments to not only retire but become wealthy.

But, it requires a lot of money to start and you should expect losing money along the way as you learn the process.

Savings Accounts

Your money can still grow in a savings account. Nowadays most online banks offer a 2% annual return. Although the average inflation is higher your money will be available when you need it.

7. Master Disincline to Dodge Short Success

Investing for retirement is a long-term strategy. That’s why you need to master delayed gratification. All this means is delaying short-term pleasure for something bigger in the future. Research shows that those who have delayed gratification are more successful.[6]

So how can you master delayed gratification?

By building your discipline.

Think back to what retirement means to you. A clear purpose will help you avoid withdrawing your money during a market downturn. It’ll help you contribute more towards retirement when you’d want to waste it instead.

Your journey towards retirement will be long, so reward yourself along the way. Choose a reward that’s relevant and meaningful, so that you reinforce positive behavior. For example, after contributing more towards retirement, treat yourself to dinner.

8. Aggressively Invest on This One Investment

I’ve mentioned several types of investments but haven’t covered the most important one.

It sounds cliche but here’s why you’re your best investment towards retirement. The more you know, the more money you’ll be able to make. The more good habits you adopt, the more secure your retirement will be.

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More importantly, investing in yourself is an investment that no one can take away. There’s no market downturn nor tragic circumstance that’ll wipe your knowledge and experience.

But, how can you invest yourself?

Reading books, blogs, and anything that’ll help you learn new topics daily. Listen to podcasts and audiobooks on your commute to/from work.

Save money to buy courses and hire coaches. I used to believe hiring coaches was a waste of money when I could learn the subject alone.

But, coaches see your blind spots and hold you accountable. Hiring the right coach will help you achieve your goals faster than you would’ve alone.

Retire Happy with Excess Money

The key to a secure financial future doesn’t only belong to financial experts.

It’s possible for you and I. What if you were able to retire earlier than most people and weren’t a financial planner? What if you were able to focus on what you enjoy doing the most while your money was working hard for you?

I know this sounds impossible now, but the truth is you’re capable of taking charge of your retirement. I’m not a financial expert but I’ve learned how to invest my money by reading books and learning from others.

Investing your money is scary. So start small and invest a small amount of your money with a robo-advisor. Feel your money drop and rise for a month or two. Then, invest more and keep this up until you’re aggressively saving for retirement.

One day, you’ll wake up with a net worth you’re proud of – confident about your retirement. You now know a few strategies you can use to invest in your retirement. Will you take action to retire happy?

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Featured photo credit: Matthew Bennett via unsplash.com

Reference

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