Would life be a little easier if you had some more money at the end of the month? Maybe you are struggling to pay more than the minimum payment on your credit card debt or maybe you have unpaid medical bills and are dealing with debt collection agencies. On the other hand, you might be in good financial standing but want to save for future purchases or goals. Regardless of your needs, you could probably benefit from extra income. Here is a list of our five favorite extra income ideas. They are here just in time for summer, so put them to use today! Over the coming weeks, we will expand on these ideas and talk more in-depth about each one individually. Stay tuned!
Have a yard sale.
This might just be the most fun option in our list of extra income ideas. Yard sales are hard work, but they can also be fun projects and something families can do together. Consider looking through your belongings to see if you can put together a yard sale. Maybe this can even turn into a neighborhood event or an event with other family members.
A popular online statistics website reports that Americans make a total weekly revenue of $4,222,375 from yard sales. What are you waiting for? Extra income is only a yard sale away. If you have nicer items that you think should sell for higher prices, consider sites like Craigslist or eBay, where buyers are likely to pay a little more money.
*Use these 11 Yard Sale Tips to make your sale a success!
Get a part-time job.
Consider getting a part-time job to supplement your income. You have several options available, depending on your schedule, interests, and skills. Here are some common part-time job ideas:
- Some people like to sell products for companies in their home and can use weekends to host parties.
- Another idea might be to work as a waiter or waitress in the evenings and on weekends.
- You could even work in retail.
Again, it really depends on the person. Some people will be able to land professional part-time jobs that are very similar to their full-time work. Others may find service positions or positions in retail environments. Even then, they will get a boost to their incomes and will enjoy the change of pace.
If someone in your household isn’t working at all, encourage them to get a part-time job too. Even though it may not be what they are looking for, they can generate extra income while still looking and applying for full-time jobs in their career field. Use online job listing websites and check the local newspaper frequently.
Turn a hobby into a second job.
Have some practical skills? Maybe you can work for yourself as a part-time job. Some common skills to turn into a second job include:
- Yard work/lawn care
- Car repairs and maintenance
- Pet sitting
- Photography, graphic design, and writing skills
It’s easy to do something you already enjoy and get paid for it. Use family, friends, and neighbors as clients and consider posting your services on a website like Craigslist to expand your business.
There are options for people with professional skills too. Consider freelancing. Contact companies directly to offer your part-time service or advertise your skills online.
Learn new job skills.
This is the most long-term of our extra income ideas. By making yourself a more experienced and skilled worker, you increase your earnings potential. Getting a new degree or certificate might earn you a higher salary at your current job. If not, it might make you a better candidate for future positions. Consider doing the following:
- Enrolling in community college classes or certification programs.
- Learning a new language. Spanish is a good idea!
- Joining a local professional organization. These organizations can provide valuable seminars, training, and networking opportunities.
Rent out a room.
Maybe you live in an “empty nest” house now that the kids have gone off to college. Or, maybe you have a big garage, basement, guest house, or extra room that doesn’t get much use. If this sounds like your situation, you may consider renting to a tenant. This rental income will allow you to put more toward your savings each month.
Research prices for similar rental properties in the area and evaluate rental applications carefully. Consult legal advice if you need assistance drafting a lease.
More Extra Income Ideas
These 5 extra income ideas have something for everyone. Pick one that’s right for you and put it to use today. Doing so will help you pay off debt or save for a healthier financial future. Be sure to check back with us too, because we will expand on each of the extra income ideas to bring you more specific financial tips. Want to take a closer look at your monthly budget and set up an action plan to maximize your income? Talk to a credit counselor now.
Which extra income idea will you to use? Let us know in the comments below!