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Make More Money: 5 Amazing Ideas That Will Help You Prosper In 2015

Make More Money: 5 Amazing Ideas That Will Help You Prosper In 2015

I’m a huge advocate of making extra income and dabbling in entrepreneurship. In some cases, this side income can make enough to quit a bad 9-5 job and open up some new possibilities. From there the fun begins as we take a hold of our own lives and experience financial freedom!

So here are 5 ways you can make more money in 2015.

1. Rent out your car, bike, boat, outdoor equipment & extra land

If you’re not using it then why not make money off that asset? You could be making $250 a week from that nice bike you bought last Christmas or rent your extra car out and make an extra $2,000 a month!

For your bike, snowboard & surfboard:

spinlister

    For your car:

    relayrides

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      getaround

        For your boat:

        boatbound

          For your outdoor equipment:

          outdoor

            For your extra land:

            gamping

              2. Renting out your space

              People always need storage. You can charge people to store stuff at your house – a spare bedroom or basement would work perfectly.

              You probably have a friend or family member that needs your help with this right now. A few boxes in an area of the house you’re not using are a perfect idea when you need some fast cash. Think about those self-storage places; they make an absolute fortune! You would be solving a huge problem for people and creating an easy flow of income. Cha-ching!

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              Try posting an ad for this on Craigslist and start interviewing or try this:

              • Roost (Predominantly in San Franciso, California but expanding nationwide. Make $3,000 a year)

              roost
                • Sparechair (Launching soon. The twist here is people can use your space to work at home without being at home. The company is looking to help people network by making coworking fun and profitable. You can charge $10-$20 a day)

                sparechair
                  • Peerspace (If your space is creatively designed and can allow for groups of people to work then consider this)

                  peerspace

                    You can even rent out areas of your home to filmmakers and producers:

                    • Setscouter (If a director selects your home you can make up to $4,500 per day)

                    setscout

                      3. Drive people around

                      The days of investing money to purchase a taxi business have changed. Today you can freely partner up with a driving company and make $200-500 a day driving people with your own car. If you’re worried about insurance these companies take care of it all. The cool thing about this is you can be a driver whenever you want or treat it like a regular job and make approximately $65,000 or more a year.

                      Wondering where you’ll find paying customers? It’s all in the mobile app which you can download and check out now. For more information visit:

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                      • Uber (Available in most major cities)

                      uber
                        • Lyft (Just like Uber but with a cute pink mustache)

                        lyft

                          sidecar

                            shuddle

                              4. Voiceover

                              There’s a chance your voice is the type someone is looking for in their online or radio commercial. You’ll never know until you try. So find a quiet room away from distraction, stand up to project your voice, and record some samples. You don’t need the most professional equipment right now. Just use your mobile phone or computer microphone. Try these website’s for voice over work:

                              voicebunny

                                voices

                                  5. Writing blog posts

                                  There are more than a few blogs that you might follow. How much have you learned from reading, liking, commenting, and sharing this information? Quite a bit, I bet! If you enjoy it consider offering to write articles for them.

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                                  You don’t have to be a literary giant. Your thoughts are your thoughts and they’re valuable – treat them as such. You should get about 25 bucks per article which can take roughly 30 minutes to research and 30 minutes to write. If you write 40, you’ve got $1,000 – just like that! This is like working a 40 hour work week while staying in the comforts of home.

                                  Here’s one source writers can make $30 a short blog post and $65 a long blog post:

                                  scripted

                                    You can find more options here:

                                    odesk

                                      If you liked these ideas on making money then you’ll enjoy this: 8 Great Ways To Earn Extra Cash

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                                      Last Updated on June 6, 2019

                                      The Average Retirement Savings and How to Save Wisely

                                      The Average Retirement Savings and How to Save Wisely

                                      Are you on track for retirement?

                                      If not, don’t worry, I’m not sure either. I save each month and hope for the best.

                                      Fortunately, I’m at an age where most people don’t save so I’m ahead of the curve.

                                      But, what if you aren’t in your 20s? What if you’re near retirement and are looking to gauge where you stand?

                                      If so, keep reading. Here’s how to prepare for retirement and save wisely during the process.

                                      What Does the Average American Have Saved for Retirement?

                                      Saving for retirement is tricky.

                                      Tell someone straight out of college to save $10k a year for retirement and it’ll be next to impossible.

                                      Make the same request to someone decades older and they’d be more likely to be able to save this amount. But, a 20-year old college student can be “financially ahead” of someone saving more than them. Why?

                                      Age matters in your financial journey. The younger you are, the more time you have to save and put compound interest to work. As you get older and have more saving power, you’d have less time to put compound interest to work.

                                      Here are the average savings Americans hold by age bracket:

                                      20’s – $16,000

                                      During this stage, most people are paying loans and moving up the corporate ladder. Your best bet during this stage is to focus on eliminating debt and increasing your income. Don’t focus only on getting a high-paying job neither.

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                                      Instead, focus on learning via Podcasts, reading books, and taking specialized courses. Doing this will make you more valuable and give you more career options.

                                      30’s – $45,000

                                      At this stage, you’ve hopefully escaped your entry-level salary and work at a career you enjoy. Your earning power has increased but you now have more obligations. For example, marriage, kids, and a mortgage.

                                      Set a plan to pay off all your debt and focus on eliminating unnecessary expenses. Leverage financial tools like Personal Capital to ensure you’re on track for retirement.

                                      40’s – $63,000

                                      This is the stage where you’re at the prime of your career. Top financial institutions recommend you have at least 2 to 4 times your salary saved up. If you’re falling behind, start maxing out your 401K and Roth IRA accounts.

                                      50’s – $115,000

                                      During your fifties, you’re close to retirement but still, have time to save. You may be helping your kids pay college tuition and other expenses. Since you’re at the peak of your earning power, max out all your retirement accounts.

                                      60’s – $172,000

                                      By this point, you should have about eight times your salary saved up. If not, you’ll depend primarily on social security benefits averaging $1400 per month. Max out all your retirement options as much as possible before retiring.

                                      Ways to Save Money on a Tight Budget

                                      The sad reality is that most Americans aren’t saving enough for retirement.

                                      Even high-earning power isn’t enough to secure one’s financial future. You need to have the discipline to save for retirement while time is in your favor. Don’t wait for you to have a high salary to save, start with having a small budget.

                                      First, get a clear picture of where you stand. Write down a list of “needs” and “wants.” For example, Netflix and Amazon Prime are “wants” and a “cell-phone” is a need.

                                      Use tools like Personal Capital to analyze your spending patterns. Personal Capital allows you to add all your financial data in one place–making it a powerful option to gauge where you stand.

                                      Once you know all your expenses, organize them from highest to lowest expense. When you can’t cut more expenses, call your service providers to negotiate a lower price. If you’re not good at negotiating, use services like Trimm to lower your monthly expenses.

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                                      How to Save Money Each Month

                                      By this point, you know the average amount of money you should have saved for retirement based on your age.

                                      But, breaking this down into monthly goals can be challenging. Here are some rule of thumbs to follow:

                                      Aim to contribute 10%–15% of your salary each paycheck. Review your progress each week.

                                      Why so often? The reality is that life gets in our way and you will have many financial setbacks. Your goal isn’t to be perfect but to get back on track instead.

                                      Reviewing your finances weekly lets you know where you stand with your retirement. This doesn’t have to be a long process either. All it takes is login in Personal Capital to view your net worth and check how much you have saved for retirement.

                                      Turn saving into a game and aim to save more each month. It will get challenging but you’ll get creative and find more ways to save.

                                      Top Money Saving Challenge Tips

                                      To prepare for your financial future and not be another statistic you need to be different.

                                      How?

                                      By adopting new habits that’ll help you become a saving machine. Here are some ways you can save more:

                                      Automatically Contribute Towards Retirement

                                      If you’re working for a company, you can automatically contribute towards your 401k. If you’re not currently contributing more than 10%, make this your goal. Contribute 1% more today and automatically increase this amount a year from now.

                                      Odds are that you’re not going to be negatively affected by contributing 1% more. Many times we spend our money on things we don’t need. Contributing more towards retirement is a great way to secure your financial future.

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                                      Use the Right Tools to Know Where You Stand

                                      Once you’re contributing more towards your retirement accounts, gauge your progress. Make use of finance tracking apps to help you view the big picture of your retirement.

                                      When I’d first signed up for the app Personal Capital, I didn’t know I had a negative net worth. Despite saving thousands of dollars, my debt brought my net worth to the negative. Knowing this motivated me to save more and spend less.

                                      Now, I have a positive net worth. But, it was because I was able to view the big picture using the app. Find out what your net worth is using a finance tracking app and you may surprise yourself.

                                      Bring in Experts to View Your Blind Spots

                                      If you have too little or too much money saved, you should consider hiring financial experts.

                                      Why?

                                      You may need someone to hold you accountable to help you reach your financial goals. Or, you may need help managing your money as effective as possible.

                                      Regardless of the reason, getting help may help improve your financial situation.

                                      Before you hire an expert, find out which areas you need help the most. For example, if you’re constantly overspending, find a debt counselor. If you’re struggling with choosing the best investment options, hire a financial advisor.

                                      Speed up Your Retirement Contribution

                                      After learning how to manage your money well, the next best thing is to earn a higher income.

                                      You’re capped at how much you can save but not much you can earn. Even if your employer isn’t giving you a promotion, you can still take charge of your financial future. How?

                                      By starting a side-business.

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                                      This will be something you’d work on after you’ve finished your day job. Once you start earning income from your side-business, you’ll be financially better off.

                                      The best part is the more work you put into your side-business,[1] the more potential it has to earn more money.

                                      So start a side-business in an area you’re familiar with. For example, if you enjoy writing, do freelance writing for small e-commerce businesses.

                                      Once you’re earning a higher income, you can contribute more towards your retirement. Don’t wait for the right opportunity to secure your financial future, create one.

                                      Reach Financial Freedom with Confidence

                                      What if you were able to retire tomorrow with no problem, all because you’d have enough money saved up and little to no debt left to pay off? How would you feel?

                                      My guess is that you’d feel happy and relieved.

                                      Most Americans are falling behind their retirement goals for many reasons. They’re not prepared, they carry bad money-habits and are thinking short-term.

                                      For you to retire successfully, you need to work backward and adopt better habits. Contribute more towards your 401K and focus on growing your income.

                                      If you do, you’ll save money and pay debt faster.

                                      Don’t beat yourself up if you’re behind your retirement goals. Take the first step today towards a brighter financial future. Isn’t retirement worth the hard work and sacrifice to be at peace?

                                      Featured photo credit: Huy Phan via unsplash.com

                                      Reference

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