17 Ways To Make A Little Extra Money
October 12, 2008 by Bryan
Hello. This is the first in a series of Cheaplander articles dedicated to living within or beneath your means. I’m going to start of with a list of ideas for earning a little extra money to supplement your normal income.
You’ve probably already thought about many of these ideas. And in fact, you might even be currently using them to supplement your regular income. I am. But since the Eeekconomy is currently in the toilet (as of this writing in Fall 2008), it might be helpful just to see them laid out in front of you in list form.
Hopefully, we’ll be avoiding those ubiquitous “Make $15,000 in Three Days” scam-jobs (i.e. telemarketing, real estate flipping, pyramid schemes, selling kidneys, etc). But you’ll probably find some of these ideas more “realistic” than others. In any event, I don’t condone any type of illegal work.
Remember that the focus is on ways to earn a little EXTRA income in your spare time. It’s not meant to be a full time job. I understand that many people already have a “real” second job, but I’m not advocating taking up any of these methods full time to try rake in moola big time.
Also, notice I didn’t say EASY or QUICK Ways To Make A Little Extra Money. Anyone who tries to tell you that it’s going to be easy is trying to sell you a Brooklyn Bridge To Nowhere (or perhaps an E-Book). If it was that simple, hordes of people would descend upon the opportunity and soon make it difficult to compete.
So you’re going to have to do some work, but yes, there are ways to make a little extra cash. And every little bit can help out, right?
17 Ways To Make A Little Extra Money
- Hold a garage sale. I have to say that it is pretty darn amazing what some people will buy. While it’s not a ticket to fame and fortune, holding a garage sale is a no-brainer way to convert your old junk into cash. In most areas, you can hold a certain number of garage sales a year and it shouldn’t cost anything. Be aware that there are often regulations on where you can put signs up and how you can advertise. In some cities, it’s possible to advertise your garage sale in the local paper (ours is often through the PennySaver). You can also advertise for free through Craigslist.
- Sell items on eBay. Ok, so maybe the “gravy train” for eBay selling has long left the station. Still, it is the most effective way to sell extra items for many folks. It has the added benefit of an enormous community and millions of eyes that otherwise wouldn’t see your items. Creating an account with eBay is ridiculously easy, and your one account functions BOTH as a buyer and seller acount. There are many people who make their entire living selling items on eBay. I’ve had some moderate success selling various items over the past decade. It’s good to have an account anyway, because there are also some pretty good bargains to be had as as a buyer.
- Sell at swap meets, flea markets. Nearly every region in the country boasts multiple opportunities to sell your extra items at weekend swap meets and flea markets. The downside, of course, is that vendors need to pay a booth rental fee upfront. This amount varies WIDELY, so be sure and compare among the different ones in your area. Most of these events take place on the weekends, so it’s entirely possible to be a seller even if you have a full time job. Be aware, however, that it can be a HUGE amount of work - and you’ll probably need to get up sometime before dawn since most events start early in the morning.
- Sell items at consigment shops. There are a growing number of shops that will help you sell your items in exchange for a cut of your profits and/or a booth rental fee in the store. Again, this percentage or fee varies WIDELY so make sure to check out different shops. Some stores sell only antiques, while others specialize in clothes. We haven’t tried this method of selling items yet, but have often been tempted to.
- Make and sell crafts. This area has gotten a little crowded in the past decade or so - both the “handmade” DIY movement and the advent of aggregate online craft consignment networks like Etsy have been responsible for that. We actually used to sell handmade jewelry and had quite a bit of success with it. We even did a few shows. The benefits are that nearly all crafting can be done in the comfort of your home. The downsides are increased competition and the difficulty of getting a unique, marketable product in front of the right shoppers.
- Start up a blog. There are good reasons why blogging has become the method of choice for many looking to make an extra dollar or two online. You can do it at home, the startup costs are low (or free in many cases) and the mechanism for posting is extremely easy for beginners. That said, the biggest problem many face is getting visitors (legally) and the time spent publicizing their blog. However, if you really like writing, the visitors and the extra money you get from affiliate programs might simply be a nice bonus. I’ve been blogging for years - I might put up a page about starting one when I get a chance. But until then, there are a ton of beginner blogging guides out there to read through.
- Become a freelance writer. I don’t mean writing the next great novel, although you could do that too. If starting a blog is just not your thing, but you like writing, there are websites and online organizations who will pay you for articles or posts on a freelance basis. It can be a bit tough trying to find the correct ones (or even ones that will actually PAY) - in college, I went down this route but never had much success. The problem was that the amount that was being offered for articles was so low that it wasn’t even worth my while. But I know there are plenty of people who count freelance writing as part of their income.
- Build, design, or administer a website. I’ve actually been working in this area for over 10 years. The great thing is that there are a ton of different opportunities for working with websites, for any number of different skillsets. You can be the programmer working on the backend functionality, the graphic designer working on the art, the publicist trying to get people to visit the site, or the writer creating the content. Keep in mind that for most smaller projects meant to actually create personal income, you’ll have to wear several of these hats - otherwise you’ll be sharing an awful lot of that revenue. I’d say that the hardest part of the equation for me has been the “publicity” part of website. Getting visitors can be a really tough challenge.
- Take on “hits” at Mechanical Turk. I actually used this service quite a bit when it was first launched. Created by Amazon.com, Mechanical Turk is a marketplace for tasks that you can complete in exchange for monetary compensation. The tasks vary HUGELY, both in scope and in payment. I used to do these “identification” ones in which you’d simply look at a picture and chose a statement that best corresponded to it. They paid a few cents for each task you finished. There are other tasks where you call stores and ask questions, or drive around taking pictures of real estate properties. I stopped taking on hits because the amount of time needed to do them versus the amount you received started to get out of hand.
- Become a “Mystery Shopper”. I have to admit that I’ve always been interested in the whole mystery shopping thing (perhaps because it’s mysterious, haha) but have never actually pursued it. Basically, third party companies will pay you to “anonymously evaluate customer service, operations, merchandising, product quality, and in special cases, employee integrity.” The craziest thing is that there is actually an organization called the Mystery Shopping Providers Association, which is where I got the quote. I think the amount that you can make varies greatly, and you actually need to “qualify” for each shopping task separately. I’m thinking of trying out mystery shopping sometime, and if I do, I’ll put up a separate article about it.
- Volunteer for surveys or science. When I was in college, this was actually a pretty common way to make some spare cash. We actually paid volunteers in the speech lab that I worked in for a various studies on hearing. If I recall it was like 30 bucks for an hour of listening to various tones - not too bad for a starving college student! They also do this type of paid volunteer research at hospitals and other private companies. I don’t know how common the practice is nowadays. In any case, if you decide to do it, just be sure you know what you’re getting into!
- Sell your expertise. Everyone is an expert at SOMETHING. There used to be a ton of websites that set up different channels that “guides” would be paid to moderate. The one that comes to mind for me is About.com (formerly The Mining Co.) and I believe they still accept guides. The monthly pay rate is based on how popular your channel is. I’m also going to include the idea of being an actual school tutor (in math, writing, languages, etc) in this bullet point, because that is basically the same idea as selling your expertise online.
- Take on odd jobs at Craigslist. When Craigslist first started to get popular, there were a TON of great local “odd jobs” that you could do in exchange for monetary compensation. You could also “barter” your own services for services that you needed yourself - like doing some computer work in exchange for having someone fix the plumbing. I think that as the service has grown to encompass tons of different cities, the quality of the jobs may have diminished. But I still know several people who swear by it as a great way to supplement your income.
- Collect and recycle cans and bottles. My parents and I actually used to collect cans all the time in the 80s when there wasn’t as many people who did it. Nowadays, you have those automatic recycling facilities next to the supermarket with lines around the block. There are 3 or 4 roaming “collectors” who often come by on trash day and pick out the cans in your recyling bin. If you decide to be one of those people, make sure to check with your city ordinances. Many have rules about going through residential garbage…
- Be a professional dumpster diver. This takes picking out recyclables in the garbage to a whole new level. It may sound crazy, but there are a whole lot of people who actually do this on a regular basis. Pick stuff out of a dumpster, and then sell it. There are some real dangers here (getting into the dumpsters, being chased away by security, etc.) but I’ve heard the rewards can be insanely profitable. I’ve never tried it myself - the one time I did pick stuff out of the garbage was at a park where the snack bar had thrown away like 500 clean bags of chips that were barely past the expiration date. There’s a Yahoo group dedicated just to dumpster diving, and many websites. If you decide to try it, be sure to check local ordinances - dumpster diving is illegal in many cities.
- Become a mushroom hunter(?) I’m going to say I seriously thought this was a joke, until I saw a special on it on TV. There is a huge subculture of “mushroom hunters” who search for morels, chanterelles, truffles and other species of mushrooms that are impossible for companies to grow. They then sell them to local restaurants and stores. There are tons of clubs and organizations dedicated to Mycological pursuits. I think like most folks, I’m a bit scared of accidentally picking a mushroom that’s poisonous. But mushroom hunting is definitely on my list of things to do one of these days.
- Sell your hair I just saw this the other day on CNN - it goes to show the lengths people are willing to go to in this economic climate to make some extra cash. However, selling your hair isn’t all that far-fetched. Locks of Love has been providing hairpieces to financially disadvantaged kids under age 18 who suffer from hair loss. It’s just that there are other companies who will pay for it as well (average price is between $300-900 for your locks). But I wouldn’t recommend switching over to a for-profit company if you’re already giving it away for free, unless you really need it. Me, I’m pretty much screwed on this potential goldmine since I’m going bald. =)
P.S. If you have any suggestions or ideas to add to this list, please let me know about it. I understand some people might think the ideas are stupid or not worth their time. I’m just trying to be helpful by listing these ideas, so go easy on me, ok?
