Money 204: Making A Little Extra Money

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Money 203: What To Do With Your Freed-Up Money

Once you have a large-scale game plan, you’ll want to work more

Working has a more meaningful purpose to it when your desire to help others lines up with your goals

Many well-paid jobs require very little training or education, and there are innumerable ways to make a living based on your personality and preference

If a task exists that someone either doesn’t want to do or can’t do, there’s money in it

Make a home office to become more organized in your business endeavors

Here are a few ideas to make a side income

Pick up a part-time job or quick one-shot side jobs

  • Do an evening pizza delivery job or fast-food job
  • Do short-term small jobs with Fiverr or Upwork
  • Try ride-sharing your car with Uber or Lyft
  • Become a travel consultant or a tour guide
  • Try proofreading or data entry
  • Work remotely with Remote.co
  • Connect with an opportunity to teach with Learn4Good

Put out a classified ad for your services

  • Tutor for a school privately or advertise your services on a school’s bulletin board
  • Bake and promote it using services like Pinterest

Get certified in something high-demand

  • Preparing taxes
  • Notary public
  • Educating specific skills
  • Caregiver, nurse’s aide, medical assistant, etc.
  • Commercial driver’s license (CDL)

Start a business

  • Work on cars for a living
  • Repair electronics
  • Perform clothing alterations and tailoring
  • Sell arts and crafts
  • Sell stock photography
  • Teach English to another country
  • Start a podcast
  • Brew beer or liquor
  • Take care of pets by pet-sitting, grooming or walking
  • Create a small-scale taxi or delivery service

Learn how to invest (coming up later)

Rent out a room in your house

  • Hire a management company to rent out your rooms if you don’t have the time for it
  • Rent them out temporarily with Airbnb or Homeaway

Make money from showing your creativity online

  • Teach, make web videos or blog
  • Use affiliate marketing to refer others to purchase products
  • Run private ads
  • Create a subscription service for members

Find other ways to make side money

Cash your company’s paid vacation days in at the end of the year instead of using them

Look for tax-favored improvements and tax rebates for various lifestyle decisions

Search the floor near a bar since drunk people often drop money

Read the terms and conditions of many of your contracts; some include a $1000 prize for anyone who notices it

Sell possessions you never use or don’t need

  1. Find everything you haven’t used in a year
  • Clothing and seasonal wear
  • Books, movies, video games
  • Toys
  • Electronics and computer equipment
  • Specialized tools
  • Furniture
  1. Look up the item’s brand new retail value and how difficult it would be to reacquire it
  • If you can’t find the same item, look for reasonably similar replacements
  • pricegeek allows you to see the relative value of something
  1. Look up the item’s used sale value

  2. Determine your selling price

  • If it’s commonly available new but rarely sold used, you may be able to sell it quickly
  • If an item is new and usually sold used, you may have a hard time selling it unless you intend to lower your price significantly
  • Don’t sell it at retail price unless you know you have a rare item
  • Pay attention to the culture you’re selling in and other marketplaces you could sell it for more
  1. Decide where you want to sell it
  • Watch for scammers
  • e-Tailer Website
    • Look at the variety of related items also being sold on the site
  • Community sale/garage sale/flea market
    • Observe sale days that more people shop
    • Be ready to haggle and negotiate your price
  • Auction – whether online or in person, remember you have zero control over the final sales price
  • Estate Sale – do this if you have a lot of high-value items
  1. Give it away after you’ve tried to sell it
  • Donating money is usually far more meaningful and can cause more good than donating valuable possessions
  • In fact, many charities will sell the item instead, meaning you’re giving them more work
Next: Money 301: Big Decisions – College