Money 204: Making A Little Extra Money

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

When you have a large-scale game plan, you will be motivated to work more

  • When your desire to help others lines up with your goals, side work becomes a noble goal
  • There are many, many ways to make a living, and most of them are tied to merely showing up to do the work
  • Basically anything that exists that someone either doesn’t want to do or can’t do is something you can do to make money

Here are just a few ways to make money on the side

  • 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
    • Tutor for a school or advertise your services on a school’s bulletin board
    • Work remotely with Remote.co
    • Connect with an opportunity to teach with Learn4Good
    • Put out a classified ad for your services
  • Get certified in something
    • Preparing taxes
    • Notary public
    • Educating specific skills
  • Start a business
    • Repair items for a living
      • Cars
      • Electronics
      • Clothing Alterations & Tailoring
    • Do arts and crafts and sell them
      • Stock photography
    • Teach English to another country
    • Start podcasting or brewing your own beer
    • Start pet sitting, grooming and walking
  • Learn about investing in different things (explained later in Money 401)
  • Rent out one of your rooms in your house
    • Hire a management company to rent out your rooms if you don’t want to take the time for it
    • Rent them out temporarily with Airbnb or Homeaway
  • Avoid using your company’s paid vacation days and cash them in at the end of the year
  • Look for tax-favored improvements and tax rebates for various lifestyle decisions
  • Start selling your services online, such as teaching or blogging
  • Sell the possessions you have that 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
    2. 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
      • Use a service like pricegeek to find its relative value
    3. Look up the item’s selling value used
    4. Determine your selling price
      • If it is commonly available new but rarely being sold used, you may be able to sell it quickly
      • If it is commonly being sold used, you may have a hard time selling it unless you’re willing to sell it for a lot less
      • Don’t sell it at retailer prices unless you know your item is rare
      • Pay attention to the culture where you are selling it and the other places you’re able to sell it for more
    5. Decide where you want to sell it
      • In general, watch out for scammers
      • e-Tailer Website – Look at the variety of related items also being sold on the site
      • Community Sale/Garage Sale/Flea Market
        • Pay attention to the preferred sale days that people go foraging
        • Be ready for haggling and negotiation of 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
    6. Give it away after you’ve tried to sell it
  • Find ways to pick up extra money around your daily routine
    • Always look at the floor near a bar, since drunk people often drop money
    • Read the terms and conditions of many of your contracts, since some include a $1000 prize for anyone who notices it
Next: Money 301: Big Decisions – College