If you feel like all your household expenses are getting more and more expensive while you continue to just keep making the same amount of money, you’re probably not that far off. While the price of gas, energy, healthcare, and just about everything else you can imagine associated with those industries has increased in price over the last decade while the median salary of the average American professional has been little unchanged. As unfair as that sounds, this is a socioeconomic phenomenon that we will all have to deal with.
Fortunately there are a number of great ways to make money on the side so that you don’t have to let your standard of living go down while costs continue to increase. The good news is that most of these activities to make extra money can be easily done while you continue to work at your present job.
Even though they may not make you rich at first, there is always a possibility that you could really develop one or two of these ways to make money on the side into serious passive income streams (click on the link to see our complete list of passive income ideas). That could mean saving up for an early retirement or replacing your employment income altogether.
Strategies for Ways to Make Money on the Side:
- Earn more at work. Before you go trying to earn money somewhere else, make sure you’re doing everything you can to make as money as possible at your current job. That includes maximizing any overtime, side-projects, or profit-sharing opportunities.
- Freelancing. If you have any skills at all with writing, coding, or website promotion, then you’ve got a multitude of great ways to make money on the side. Consider selling your services part-time over the Internet through sites like oDesk, eLance, and Fiver. If your particular area of interest is writing, you might find better paying jobs specific to your niche at ProBlogger.net, FreelanceJobOpenings.com, or even Craigslist.
- Sell your old clothes. Lately all around town I’ve noticed several high-end second hand clothing stores. If you’ve got some items in your wardrobe that you are tired of but they are still in good shape, consider selling them at one of these places.
- Join a Focus group. Advertisers need your opinion, and if you’re willing to trade your time they will compensate you for it. Try a site like FocusGroups.com to find one.
- Sell advertising space on your car. This one is possibly one of the most creative ways to make money on the side. If you commute a long distance to work every day, think of how many cars you pass along the way. What kind of local business owner wouldn’t want that kind of mobile advertising to help promote their business? Post an ad on Craigslist.
- Become a landlord. This is one of the classic ways to make extra money on the side. You own a second property and people who need a place to stay to live pay you a check every month.
- Sell stock photography. Believe it or not the candid photos you have sitting on your hard drive doing nothing could be worth big money to advertisers who need them for product or content promotion. Read our post on selling stock photography and then signup for an account on iStockphoto.com.
- Lessons. Everyone can use a little help with their sports, music, and tutoring. If you’ve got some skill in any of these areas, there will be plenty of people (both young and old) they would be willing to enlist an hour or two of your time each week for you to teach them.
- Etsy. Are you creative? When it comes time for a party, wedding, or decoration, people often like to find things that are cute, original, and fairly inexpensive. Consider setting up an account on Etsy and marketing your skills to service this demand.
- Walking pets. Dogs LOVE to go for walks, but their owners don’t always have the time. If you’re good with pets, consider offering your services. Try asking the people in your neighborhood first. If that doesn’t work, you could sign up with a website such as Rover.com or post an ad on Craigslist to work with people local in your area.
- Child care. Parents have to work and have got places to go, and they need someone they can trust to watch their children. If you love kids and are qualified to take care of them, consider becoming a place they can turn to when they are in need. Starting with your friends or family is always the best place to begin. If that doesn’t work, you could always sign up with a website like Care.com to offer your services locally.
- Become an investor. What’s better than owning a stock that goes up? How about one that pays you for being an owner. Stocks like this are called dividend stocks and if you own enough of them, you could make extra money on the side in the magnitude of hundreds or thousands of dollars.
- Blogging. The thing people don’t realize about bloggers is that once their site develops traffic they are often approached by advertisers who are willing to pay them hundreds or thousands of dollars on the side to promote their products or services. You can start a blog for free or a self hosted one for less than $100.
- Affiliate marketer. If blogging sounds like too much work, you could always bypass it by making money off of other blogs’ traffic by becoming an affiliate marketer. Try a place like Commission Junction or Flex Offers to sign up.
- Creating a saleable product. Suppose you identify a certain problem people have, such as the topic of this post on the ways of how to make extra money on the side. If you were to able to package your advice into an eBook or DVD series that people could purchase, then you could sell those items over the Internet and make money virtually while you sleep. Regardless of what you may think of your own qualifications to put something like this together, books like “The Millionaire Messenger” teach us that regular people are able to do this all the time. How? By being very good at teaching others and supplying them with quality information.
Images courtesy of FreeDigitalPhotos.net