New Ways to Earn Extra Money

A while back I wrote an article entitled 26 Ways to Make Extra Money While Keeping Your Day Job. It quickly zoomed to the top of the search engines and I’ve gotten a TON of positive feedback from that post. It seems that people around the world are clamoring for ways to make more money to better their lives and the lives of their families. But there are far more ways to make additional cash than the 26 I listed. In reality, the freedoms we enjoy make the options for making extra money limited only by your willingness and creativity.

When I wrote the original 26 Ways to Make Extra Money, most of the options I listed involved generally involved YOU doing the work alone and in a single task, and though there are still a few of those options listed here, I wanted my new list of money making ideas to focus more on ways to multiply your efforts. Let’s face it: you’re extremely limited when you have to do all the work yourself – there’s only one you! If you can find a way to make extra money that doesn’t involve your own efforts, or multiply your actions by involving more than one task at a time, or work once but get paid again and again, you’ll be freed up to make even more money.

Here are some additional ways to make extra cash that I didn’t list in the original 26 Ways to Make Extra Money:

1. Don’t change a thing

That’s pretty easy, huh? But it isn’t entirely true – you’ll need to make a few minor changes such as:

  • Changing your primary checking account to PerkStreet, spending like normal, and getting cash back on your non-pin debit card purchases. Open an account by clicking here and getting the details. You don’t even have to close your account at your old bank!
  • Transferring your high interest credit card balance to a Discover More card and using the interest savings to pay down your debt. The last time I checked, they were offering an 18 month ZERO percent balance transfer.
  • Quit thinking you can outsmart the investment markets and start using a fee based financial advisor to help you avoid buying high and selling low. You can easily find a financial advisor matched perfectly to your needs and preferences by going to WiserAdvisor (in business over a decade).

By making a few very minor (and easy) lifestyle changes, you’ll free up extra cash on a continual, repetitive basis (read How to Switch Banks in Six Easy Steps).

2. Blogging

Yes, blogging can make some serious cash IF you’re serious about it. It really doesn’t matter what you blog about, if there’s an opportunity to make some advertising revenue from it and you’re halfway decent at writing and web publishing, you can probably make more money that you think. You’ll need a computer, an Internet connection, and a web host (such as HostGator) … and a lot of hours and creativity. But the good thing is that over the course of several years, you can work once, and be paid again and again.

3. Teach others

People love courses that help them expand their horizons. The Food Network makes cooking look easy. It isn’t. But if you’re adept at putting together a great recipe, find a venue in your city that will allow you to teach others to cook and you can make some serious extra money. This might be a kitchen showroom for a building materials supplier or a friend with a large home (and kitchen). By drawing in multiple students, you’ll multiply your efforts. It’s just as easy to teach one student how to make a killer chicken pot pie as it is to teach 8 students. And you make 8 times the money.

The Food Network isn’t the only television show that makes the complex look super easy, HGTV is quite the culprit as well. Building a deck, building a garage, even building a home, is a process and if you’ve been successful at any of these ventures before, you can probably teach others how to do it themselves and they will pay you for it! The venue doesn’t have to be complicated – just a classroom at the YMCA or the local library – and with a field trip or two to show your students what you’re talking about, you’ll establish yourself as an expert AND make some good extra money.

I once took a class like this on building my own home. I was one of thirty people who paid $500 for a 4 week course. You do the math.

4. Nighttime babysitter

Could anything be sweeter than making extra money while you sleep? I know someone back in my home state who “babysits” for parents who work the third shift at a factory (third shift is 11pm to 7am). Yes, she has all the necessary insurance, business licenses, and credentials. Parents drop off their pajama clad kids at 9:00pm, and shortly thereafter, they go to bed. The parents return around 7:30 the next morning to find their children rested, fed, and ready for day-care or school. Since she keeps 7 kids, she makes 7 times the income as keeping one – while she sleeps. Yes, the kids sometimes have bad dreams or wake up in the night, but generally it works out very, very well.

5. Get creative

The possibilities are truly endless. My oldest daughter is quite good at drawing and painting. She buys very inexpensive canvas shoes and paints them in college football team colors. People love them. And they’re very willing to pay for these custom creations.

But you don’t have to be creative in just a graphical way. You could write and sell eBooks on the Internet, or write songs, or create online courses on training your dog. The possibilities are only limited by you!

If you ask me to name the proudest distinction of Americans, I would choose- because it contains all the others- the fact that they were the people who created the phrase “to make money”. No other language or nation had ever used these words before; men had always thought of wealth as a static quantity- to be seized, begged, inherited, shared, looted or obtained as a favor. Americans were the first to understand that wealth has to be created. –Ayn Rand

Making extra money isn’t impossible. It’s all up to you, but that’s a good thing. No one cares as much as you!

This article was included in the latest edition of the Carnival of Personal Finance hosted at Financial Success for Young Adults.

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