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8 Great Ways To Earn Extra Cash

8 Great Ways To Earn Extra Cash

Budgeting is often viewed as a necessary evil, and a lot of people try to make due with a reasonable salary as best as they can. In a lot of cases, saving up for some luxuries simply isn’t a realistic option, as there just isn’t enough money to go around.

A good way to boost your budget a little bit, if you’ve already got a full-time job, is to find an additional source of income. This should be something that doesn’t require too much of your time, as you still want to have some free time left for yourself in the day, but still pays decently well.

Since people have different skills and sensibilities, we will be looking at a number of effective ways to earn some extra cash.

1. You can take online surveys

Elite Survey Sites

    The gist of this fairly straightforward money-making method is that you log onto a website, complete a survey and get paid a certain amount of money for it. Some websites will have fairly regular surveys for the users to complete, earning you anywhere from $1 to $5 for shorter survey that can be completed quickly, while some can get you up to $10.

    There is also the odd opportunity like reviewing a website or evaluating a book, both of which which can land you up to $30 and $60 respectively.

    Getting paid to take surveys online is an easy and safe way to earn a little extra cash, as long as you focus your attention on the better websites like the ones mentioned here, but it won’t make you a millionaire anytime soon.

    The good thing about them though is that you can bite off as much as you want to chew, and you can combine paid surveys with other options listed in this article without losing too much of your own free time.

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    2. You can write and publish a cheap romance novel

    Smashwords

      While great classical minds like Cicero lamented about the state of the world in which children don’t listen to their parents and everyone is writing a book, the truth is that it’s evidently been like that for centuries now, and there is no reason why you shouldn’t take advantage of this fact.

      You’d think that there is a lot of competition out there, but despite the sea of cheap thrillers, fantasy and romance novels out there, people seem to want more and more.

      If you have even the slightest bit of writing talent, or at least have a decent idea and aren’t completely illiterate, there are user-friendly platforms like Smashwords that can help get your novels out there. The drawbacks here are that the process is time consuming and requires at least some creativity, but it can be a long-term project that you slowly complete over the course of a few months, writing whenever you find the time during the day.

      With time, you’ll get better, and if you can put that into your book, you are looking at a decent amount of additional income.

      3. You can hold online English classes on Skype

      SkypeEnglish

        With the advent of platforms like Skype, it has become very easy to connect with people from around the globe, and even teach classes face-to-face with someone from another continent. Since English is a language spoken in most countries across the world, there is a big demand for English language teachers, especially in Japan.

        There is a $10 yearly fee, it’s simple to sign up for it and the money is decent – $5 for a 25 minute class and $10 for a 50 minute class – but it does require a decent amount of work and good people skills.

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        There also may not be a position available at all times, so you can end up waiting a while for a job opportunity to present itself.

        4. You can provide a unique niche service on Fiverr

        Fiverr

          Fiverr is a great platform where people can offer all sorts of services for a nominal fee, starting from $5. The best thing about it is that you have free reign to choose any type of service you would like to provide – from proofreading and songwriting to drawing cartoon version of people, web development and animation.

          But, as to be expected, there is a lot of competition.

          This is why you need to find a unique niche to cater to, something specialized for which you can quickly become the go to person. Everyone has some interesting talent, a skill set developed over the years or even a hobby that can be monetized, so Fiverr can be a good opportunity to supplement your income.

          5. You can sell your old textbooks

          Amazon sell books

            Higher education is an important thing to have, but going to university will set you back quite a bit in student loans. Textbooks can be costly as well, and over time, you will be left with a whole bunch of textbooks that you no longer need.

            You can make some of that money back by selling your used textbooks online. Selling your old textbooks on Amazon is pretty simple, and you can get a good deal for them, as long as they are in good condition and the ISBN number matches that found on the website.

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            6. You can dabble in stock photography

            Stock photo websites

              There are tons and tons of content being uploaded online every day, and a lot of it features at least one image. Everything from blog posts to homepage backgrounds may feature a quality image, so there is plenty of work to be had as far as stock photos go.

              Most stock photo sites offer about 50-60% of each sale to the artist, and if an image proves popular, it can earn you a nice sum. Of course, you need to invest in good equipment to set up a small studio and need to have some talent and experience, so it is not something that everyone can just pick up as an additional source of income.

              It may also be a while before you see some real profit, and you will have to put in the work. However, if you have already dabbled in amateur photography as a hobby, have some decent equipment and enjoy snapping photos, then you can take the extra step and make some money from it.

              7. You can try to find a gig as a movie extra

              Extras

                If you have a bit of free time on your hands, say on weekends or in the afternoon after your day job, and you’ve dreamed of being part of a movie production, you can try to find a gig as an extra. Unless you are a member of the Screen Actors Guild, you won’t make too much in this line of work, but a few days of shooting a month can provide you with that little extra cash that you need to get your finances in order.

                Now, before you get your hopes up and start planning your Oscar speech, I should mention that this line of work is not for everyone.

                A typical shoot can stretch on for hours on end, and you will be expected to stand around and repeat the same movements over and over again. You are basically adding a number of full workdays, physically demanding ones at that, to your schedule, and the work is not exactly stable – you can go a long time without an offer or get a couple of options during the same week.

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                It’s a bit of a gamble, and it is demanding, but it is also a decent side job overall, especially if you live in a bigger city where a lot of films and TV shows are shot.

                8. You can create a blog and start putting out content

                Wordpress

                  Even if you don’t think that you’d have much to say to the world, there is probably some specialized area that you are skilled in or have spent a good deal of your time learning about. Just as long as you can give some interesting insights, good advice and provide a bit of entertainment to a niche audience, you can create a fairly successful blog.

                  Like some other job opportunities on this list, creating a blog requires you to invest some money – although you don’t really need all that much – and a decent amount of time. It’s also not exactly a quick and easy way to get some cash.

                  You should see it as more of a long-term project that starts out as a fun hobby, and can gradually become a stable stream of extra income. The best thing about it is that it can be your little passion project that takes a couple of hours of your free time, which leaves you enough time to focus on other, more immediate, methods of earning money.

                  Supplementing your income with a less time-consuming and relatively simple side job will allow you to save up some money, get out of debt quicker or afford a few luxuries. These are just some interesting ways to earn a few extra bucks, while still having a bit of free time left.

                  You won’t burn yourself out doing any of these, and can tap into them as little or as much as you want, but they can make a noticeable difference over time.

                  More by this author

                  Ivan Dimitrijevic

                  Ivan is the CEO and founder of a digital marketing company. He has years of experiences in team management, entrepreneurship and productivity.

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                  Published on January 8, 2021

                  How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

                  How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

                  Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

                  The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

                  Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

                  What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

                  Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

                  1. Pay More Than the Minimum Credit Card Payments

                  Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

                  Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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                  You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

                  The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

                  2. Start With High-Interest Credit Card Debt

                  If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

                  First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

                  At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

                  3. Revisit Your Budget

                  Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

                  You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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                  Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

                  If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

                  4. Avoid Using Your Credit Cards

                  Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

                  The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

                  It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

                  5. Start a Side Hustle to Boost Your Income

                  You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

                  If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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                  Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

                  It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

                  6. Sell Your Used Items for Extra Cash

                  Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

                  A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

                  Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

                  When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

                  7. Know When to Seek Help With Your Debt

                  Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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                  There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

                  In extreme cases, the debt solution can be:

                  • Debt relief – where your debt is partially or wholly forgiven
                  • Debt consolidation – taking out one loan to repay others
                  • Debt settlement – the creditor forgives a significant portion of your debt
                  • Bankruptcy – legal process for seeking relief from some or all your debts

                  It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

                  Wrapping It Up

                  Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

                  So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

                  More Tips on How to Pay Off Debt

                  Featured photo credit: rupixen.com via unsplash.com

                  Reference

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