Friday Financial Tidbit-Ways to earn extra income

Everybody has had the desire to have some extra cash in their wallet at some point or another. Maybe it was to pay down on your debt, put some into the bank for emergency savings, or simply to take a vacation or spend more on Christmas gifts. I put a recent question up on the Facebook fan page asking what would be your first choice if you want to make some extra cash. Below are some of the options I recommend to people when they ask how they can make some quick cash.

Have a garage sale or sell stuff on Craigslist or EBay

In the poll this was the most popular choice so far. Probably because almost anyone can do it without a whole lot of effort; we all have junk in our house that we are not using anymore. So instead of just letting it sit there and collect dust, why not get some cash for it? You can easily make $300-$500 in a weekend, sometimes up to $1,000, by having a garage sale. The disadvantage of doing this, however, that it is usually a one time deal. You can only sell so much stuff for so long before you run out of stuff to sell!

Work overtime or a get a second job

This is the traditional way to earn more money: work more! Getting overtime is probably easier and more enjoyable then going out and getting a second job. But overtime is not always available to most workers. But getting a part time second job at night or on the weekends is a surefire way to make some extra cash. The downside with this, however, is that you are taking away time from your family and it’s hard to work 50, 60, 70 hour weeks for a long period of time. But if you put your mind to it and sacrifice for 3 to 6 months you can really make some headway on your savings goals.

Start a part-time home-based business

It might take some initial work to get off the ground and become profitable but starting a business on the side is great because it gives you flexibility in that you can control how much time and money you make. It also allows you to get creative and do something that you enjoy. We each have talents and interests that we can make profitable if used the right way. You’ll also make more money in the long term because you will be doing something that you love! In addition who knows, your business might take off and you could turn it into your full time employment.

So those are just a few of the things you can do to earn some extra cash. What are some things that you are doing or have done in the past to earn some extra money? Please also vote on the poll question; I would appreciate seeing what you would do to earn extra money.

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4 Responses to Friday Financial Tidbit-Ways to earn extra income

  1. Jon,

    Great tips. A recent student of mine reflected on the over-time verses extra job option. His company had plenty of overtime to offer, but he was already working 4, 10 hour shifts. He felt that overtime at his company may burn him out for his regular job and opted to start a small side business with skills that he enjoyed working with. Overtime is definitely an option, but it is good to think through your personal strengths and weaknesses when deciding which way to go.
    Thanks for the article!

    • Jon White says:

      Kathryn, I can definitely understand where you student is coming from. Overtime is a good option if you need some quick cash over a 3 to 6 month span. But I would not recommend it as a way of life. For the long term I think the small side business is a great idea! It is a great way to provide income and you can put in as many hours as you like. In addition it can grow over time and you might be able to make it a full time source of income! Thanks for stopping by and leaving a comment.

  2. Stacy Ash says:

    I noticed you didn’t include “Become a Freelance Writer” 🙂

    • Jon White says:

      Great point Stacy! Never thought of that one before, but if you are a skilled writer that is a great way to make some extra $$$ each month.

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