Four Ways to Earn Extra Cash
1. Direct Deposit into Savings Account
If your employer offers direct deposit, select this payment option. Instead of having the funds deposited into a checking account, deposit the money into a savings account. Next, transfer bill money to your checking account as needed. If you have a check card, there is the temptation to spend on a whim. On the other hand, if all available funds are left in a savings account, the money becomes less accessible. In turn, you spend less.
2. De-Clutter the House
Most people have an annual routine of cleaning out closets, garages, and so forth to rid the home of excess or unused junk. Although donating to organizations such as the Salvation Army and Samaritan House are good, you might also consider selling your junk and making a small profit. For example, if you have a computer and internet connection, sell your items on EBAY. This site is great for selling clothes, music CD’s, DVD’s, electronics, home dÃ?Â©cor, etc.
3. Break a Few Costly Habits
For the most part, many people earn enough money to make a living and have a little disposable income. The problem is that many people spend excessive amounts of money supporting a habit. For example, smokers waste a lot of money on cigarettes each month. Additionally, Starbuck’s coffee lovers can easily spend $15 – $20 a week on coffee. If you work outside the home, daily lunches can also cost an arm and a leg. There is nothing wrong with the occasional indulgence, but avoid spending too much money on extras.
4. Get a Side Business
Even though a hectic life makes second employment unfeasible, you may be able to generate extra money with a side hustle. You could start a side business selling items on EBAY. Sign up with a drop ship company or wholesale distributor and sell their products. These companies will ship items directly to the customer. Thus, there is no need for you to build an inventory. This way, you sell the items first, and buy them later. You may also consider putting your skills to good use, and earn a little money along the way. For example, if you excel in a particular subject, you might begin an after school tutoring service. Do you play a musical instrument? If so, think about teaching lessons. On average, you can earn $30 per hour session for music lessons and tutoring. If you have four students, you make an extra $120/week, which is an additional $480/month. Use the extra cash to make ends meet, build a cash reserve, or payoff debt.