Rule #1 Finance Blog

With Investor Phil Town

Ways to Make Extra Money

If someone told you that you could make a few hundred dollars, or maybe even a few thousand dollars, a month on top of your regular paycheck, you’d be interested, right? 

It seems that everyone these days has a “side hustle,” but this isn’t a new concept. Most financially successful people, if not all, have multiple streams of income.

Whether you’re looking to create a bit of money on the side by working a few additional hours, you want to take advantage of all the online opportunities available, or you want to create passive income through investing, there are a variety of ways to make extra money.

Heck, you can even get paid to take surveys or earn gift cards while you shop. 

Looking for ways to make extra money is a smart move.

If you have the time and energy to do a bit of research and put in a little work, you could drastically impact the bottom line of your budget, which could mean being able to pay off debt sooner, invest more, purchase a home earlier, or support other goals and ambitions you have. 

Not sure where to start? I’ve rounded up 20 ideas to help you decide how you can make a few extra bucks. These are some of the best ways to make extra money, including—my favorite—through investing.

8 Ways to Make Extra Money Online & from Home

Thanks to the internet, you don’t even have to leave your house to make money. There are plenty of ways to make money from home—from taking surveys and testing websites to more ambitious tasks like launching an online business.

If you have wifi and a computer (or even just a phone) you can probably take on at least one of these ideas. 

1. Teach Online Courses 

Are you an expert in something? Maybe you speak different languages or maybe you’re an artist. Whatever it is, there are people out there who would pay to learn what you know.

Sites like Skillshare and Teachable make it easy for anyone to teach an online course. 

Personally, I love teaching online courses on investing, and I have had so many students benefit from this format. Plus, once you create a course, it can continue to reach more and more people without any additional work on your part. 

Start making better investments by working smarter, not harder. Check out my ultimate guide to investing now!

2. Start an Online Business

If you’ve been toying around with the idea of starting your own business and you can see how it would provide multiple ways to make money online, consider this an encouraging push to start. 

While you won’t see cash overnight, if you put in a little bit of time and effort each week, you will slowly create a supplemental cash flow you can sustain.

This is also a great step after teaching online courses. If you start there, you can develop an audience who trusts you and becomes your most loyal customers.

3. Get Paid to Take Surveys

Did you know, you can get paid to take surveys online? 

Businesses, non-profits, and researchers are always looking to gather data, so they will pay people to take surveys. There are a variety of sites you can sign up with to receive payment for your input.

While it’s not much and you may have to take a number of surveys before seeing the dollar signs, it is a quick way to make some extra cash. 

4. Learn How to Invest

In my opinion, the best way to make money and the best way to grow the money you already have is through investing. You don’t have to start with a lot of money; even a small amount invested the right way will grow. 

As you continue to make money and learn more, you can invest more. The more you invest, the more you make. 

The key to actually making money through investing is learning and following a proven strategy. I’ve put together a list of 10 simple steps for beginners to get started and experience success in the stock market.

But it’s not just about stocks. There are various types of investments to know about that can make you any amount of money.

I’ll say it again: this is one of the best ways to make money

Once you learn how to invest, it becomes passive income, which is the best kind of extra money! It’s money you make while you sleep.

As Warren Buffett says, “If you don’t learn to make money while you sleep, you will work until you die.” 

5. Become a Freelancer

Freelancing is a way to contract your services out to other companies who need skilled people like you. If you’re a writer, graphic designer, coder, or any other profession, you may be able to make a good deal of money by freelancing on the side. 

Sites like Upwork and Fiverr are great places to post your resume and look for work that could earn you some extra money.

It’s also a good idea to create your own portfolio to showcase your work. You may even be able to earn some income off of your own site through advertising and affiliate links! 

6. Utilize Cash-Back Offers

Everyone is guilty of doing some (or a lot of) shopping online, so why not get rewarded for it? 

Now, this isn’t an excuse to go spending your money on things you don’t need, but if you are purchasing things you do need and will buy anyway, you should take advantage of whatever deals and offers you can. 

There are so many browser extensions out there that can help you save money by scanning for codes and best prices and even giving you a percentage of cash back on your purchases.

Start making better investments by working smarter, not harder. Check out my ultimate guide to investing now!

7. Work as a Virtual Assistant

If you’re highly organized and tech-savvy, being someone’s virtual personal assistant may be just the job for you.

From scheduling events and appointments to organizing documents and calendars, virtual assistant’s work is pretty painless but a lot of people need help with it.

If you’re willing and able, you can make great money assisting them. 

8. Test Websites & Apps

Similar to businesses needing to collect data from consumers through surveys, they need to test how well their websites and apps run and they pay people like you to do so.

All you have to do is provide feedback on the user experience, such as how easy it is to find information and how well the platforms run, and you could walk away with a few extra bucks.

5 Ways to Make Extra Money by Selling

If you’re a salesperson by day, or you just have plenty of things you could sell or rent out, you may want to pay attention to these ways to make extra money. 

9. Rent Out Your Home

You’d have to live under a rock to not know how many home rental sites there are out there these days, but you may not know just how profitable it is to be the one renting out your space. 

Whether you have an extra room or you’re out of town a lot, you can make extra money by renting it out.

If you’re really living large and have the funds to invest in property, you may consider even purchasing real estate for the purpose of renting it out. 

Of course, this comes with cons as well as pros…

10. Rent Out Your Car

With all the time we’ve been spending at home as of late, you may have realized how little use your car is getting. Why not make money off of it? 

There are car rental companies that work similarly to property rentals and make it easy and risk-free to rent out your car to people who need it. The best part? It requires no cost or time on your part, and you get paid! 

11. Sell Old Electronic & Media Equipment

If you have old phones, computers, movies, CDs, or any other electronic devices lying around, you can easily sell them. A quick eBay search will let you know how much you can make off of selling it online.

Alternatively, many brands will take your old devices back and offer you discounts or gift cards in return, which can be extremely useful if there is something you need. 

12. Get Rid of Unwanted Things

If you’re looking for an easy way to make extra money today, why not look around the room for something you no longer want, but someone else might—and even pay for? 

As the saying goes… one man’s trash is another man’s treasure. In a few minutes, you can take a few pictures and list the item for sale on any number of sites.

Then, simply wait for someone to bite and, in a short turn of events, you’ve not only made money but also cleared up space. 

13. Rent Out Your Belongings

It may sound a bit funny to lend strangers your stuff, but think about it: not everyone has a lawnmower or a drill or a camera to take photos of their newborn baby. But they might come in handy to borrow from time to time.

If you have quality supplies you think others would like to use, rent them out when you don’t need them and watch the dollars roll in. 

7 Side Jobs to Make Extra Money

If time is on your side, there are plenty of part-time or side jobs you can take on as ways to make extra money as well. Dedicate a few hours a week to one of these side jobs and you’ll see the fruits of your labor. 

14. Drive for Uber or Lyft

If you’ve ever ridden in an Uber or Lyft, you know that people from all different walks of life with various other jobs and unique reasons drive for these ride-sharing services.

It’s a flexible side job that can make you money if you have a few hours you don’t mind spending driving around town and having conversations with new people. 

15. Be a Food Delivery Driver

If small talk isn’t your thing, but you’re good with directions, you may consider driving for a food delivery service.

Similar to driving for Uber or Lyft, the hours are flexible and the pay can be good, especially if you get decent tips. 

16. Help with Miscellaneous Tasks

Are you a good handyperson, cleaner, gardener, or just pretty strong and willing to help?

TaskRabbit and similar sites can connect you with people in need of household help anything from hanging a TV or packing boxes to painting or cleaning a room. This can be a simple way to get paid for something you’re good at.

Start making better investments by working smarter, not harder. Check out my ultimate guide to investing now!

17. Dog-sit or Babysit

Have a puppy or enjoy being around kids? Appease it and make some extra cash while you’re at it by offering to dog sit or babysit.

There are services you can sign up for, such as Wags or Care.com, but you can also just make it known to your friends and family that you would love to watch their dog or kids when they’re away.

You will be surprised at how quickly word can travel, and soon you’ll be on speed-dial for the whole neighborhood, racking in dollars.   

18. Get on Social Platforms as an Influencer

Being an influencer on social media isn’t limited to fashion experts. Experts in any field can develop a following and get paid for that following. 

Now more than ever, businesses want to put their marketing dollars behind influencers because they have a devoted and niche audience, so if you have expert tips or a unique angle you’re willing to share with the world, you can make a lot of extra money. 

19. Become a Photographer or Videographer

Photography and videography skills are always in demand. Whether a business wants to shoot a marketing campaign or someone wants family photos, your skills won’t go unhired. 

Making money on the side by photographing or videoing special events or campaigns isn’t the only way, though.

You can also sell stock photos online, or become a master of drone photography to expand your services and make more money.   

20. Find Seasonal Work

If you don’t have time to commit to a job year-round, try committing to something seasonal to bring in a little extra cash.

Plenty of businesses have peak seasons during the summer or the holidays when they take on new employees for a short term. 

This can be a great way to build up your bank account if you have something specific you’re saving for or an emergency fund you need to replenish. 

Make Extra Money & Spend Wisely

ways to make extra money

There are so many ways to make extra money—you’re not limited by options even if you are limited by time or ability. Hopefully, one, or some, of these ideas have inspired you to try something new or sparked an idea of your own. 

Once you’ve dedicated effort to make the extra money, though, it’s critical that you use it wisely. As I mentioned at the start, it can help you pay off debt sooner, build up an emergency fund, or reach a financial goal you have been striving for. 

If you want the extra money you earn to grow over time, I suggest investing it. This way, you will have the chance to make even more money. If you need a little help learning how to invest your extra money once you have it, grab my Ultimate Investing Guide.