While managing your spending is a great way to live more comfortably and afford the things you need, sometimes your budget can only stretch so far. If you’re looking for ways to make extra money, this post is the place to start.
1. Ask for a Raise
The best way to get more money? Ask for it. As you go through your day-to-day activities at work, take note of the things you do well. Did one of your coworkers say you’re the best at a certain skill? Write it down. Did you finish a project early or under budget? Write that down too. When you have enough evidence of your talent and dedication, bring it to your boss and let them know you deserve a salary increase.
2. Sell What You Don’t Need
Do you have old furniture, electronics, or clothes that don’t fit with your life anymore? You could try a garage sale, but you’ll have to spend the better part of the day in your yard haggling with strangers—and you might find more bargain hunters than people who appreciate the value of what you’re selling.
If you have the time to set up and manage an account, you could make more cash selling on eBay or Craigslist. You don’t even have to sell each item individually. Try offering a set of, say, five old baby toys for a single price—someone is sure to snatch it up.
When you’re selling clothes, you have a lot of different marketplace options, including Poshmark, ThredUP, and TheRealReal. Make sure to take clear, well-lit pictures, and write an honest description to get the most for your clothes.
3. Make Interest Work for You
How much are you paying in credit card interest? If you carry a balance from month-to-month, the amount can add up over the years. If you can afford it, start paying down your credit card balance so you can have that extra cash in the future.
While you’re avoiding credit card interest, you can also make sure you’re getting more interest from your savings and checking accounts. Talk to your local Montana credit union to make sure you’re earning enough interest on your accounts. Remember, banks often offer a much lower interest rate on savings, and usually no interest at all on checking—in the end, that’s less money in your pocket.
4. Rent Out a Room
If you own your home and feel comfortable with travelers staying for a few nights at a time, try offering a spare bedroom through Airbnb. If you have a camper or RV, you can rent it out through Outdoorsy. And some people even rent out their parking spots on Craigslist—just make sure your landlord or homeowners association is okay with it.
5. Test Out New Websites
Do you love to share your opinion? Sites such as UserTesting offer payment in return for your reviews of certain websites. You can make up to $10 for every test you complete, and you can do so on your own computer and smartphone from home.
This can be a good way to make a little extra money, but keep in mind that many sites that offer payment in return for reviews or testing are scams. Be sure to do your research and be wary of any sites that ask you for money or personal financial information.
6. Open a Business or Start a Side Hustle
Have you always wanted to be your own boss? Even if you aren’t ready to quit your day job just yet, you can start a side business to earn extra money. If you want to be an entrepreneur, check out our tips for saving for a future business. If you’re going to dip your toe into the gig economy, read more about the pros and cons of a side hustle.
We hope these tips help you make a little extra cash. Good luck with your earning endeavors!