Maybe you need a quick infusion of cash to cover a bill. Or perhaps you’re ready to invest, but don’t have the extra funds to start. Here, we’ll cover five ways to earn money fast. None are rocket science, but each is an effective way to put money in your pocket and give a boost to your personal finances.
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1. Discover the cash in your stuff
You may not feel as though you have hundreds (or thousands) of dollars lurking in your closets, attic, or basement, but you may. Think about the toys your kids no longer play with, clothes no one wears, collectibles gathering dust. They may be nothing more than “stuff” to you, but chances are good someone else sees them as treasures and is willing to pay to take them off your hands.
Before we go on, one quick point as to why so many of us amass a huge amount of possessions we no longer need: According to a study published in the Journal of Consumer Psychology, we humans tend to associate the stuff we own with self worth. We come across an old, empty picture frame in the basement, believe we can easily sell it, but suddenly feel something akin to grief. That’s because, according to psychologists, we come to believe that our stuff is a reflection of our worth.
If you’ve gathered a small pile of things to sell and feel the urge to “rescue” something from the pile, remember: Your “stuff” has nothing to do with who you are or your worth as a person. You are selling things to improve your situation.
Once you’ve gathered items for sale, it’s a matter of deciding where you’re going to sell them. While it’s tempting to suggest you have a garage sale, garage sales are a lot of work. Everything — setting up, advertising, tearing down — eats up time. A better option may be to use your neighborhood website, Facebook Marketplace, or eBay. It’s as simple as taking a photo, describing the object, and waiting for offers. Although it works much like the old standbys, OfferUp is worth checking out for two reasons: It’s easy to use, and the platform is growing fast. And if you have clothes you no longer wear, Poshmark is a great place to find buyers.
2. Share a skill
You likely possess a skill someone else would gladly pay to learn. Offer to teach a foreign language, how to play the guitar, how to bake gorgeous pies, or how to garden. In short, make money by sharing something you enjoy with folks whose lives would be enhanced by learning that skill. Check out sites like Skillshare, Udemy, or Teachable to learn how to get started. If you prefer to teach in person, advertise your services on your local neighborhood website, community bulletin board, or by word of mouth.
3. Rent space
If you have a spare bedroom in your home, consider using it to make extra cash. There are important steps to take before allowing a prospective tenant to move in — including running a credit and background check. Costs run $30-$50 for a credit check and $15-$40 for a background check. Whether you pay the fees or pass them on to a potential renter, it’s well worth it to know that the person you’re moving into your home is law-abiding and financially responsible.
We’re in the heart of vacation season, meaning there are opportunities to house-sit for those who are away from home but still want things taken care of. That may include bringing in the mail, watering plants, and accepting packages. If you happen to adore animals, you can offer to pet-sit for those who will be away but want their pets to remain at home.
5. Place an ad on your car
While it may seem too easy to be legitimate, companies like Carvertise, Free Car Media, Wrapify, ReferralCars, and StickerRide pay from $100 to $400 per month to drivers willing to attach advertisements to their cars. If you’re interested, check the details associated with a company — each has its own set of requirements.
Whether you need a large amount of money or a quick $100, coming up with it may be a matter of making the most of what you already have.
View more information: https://www.fool.com/the-ascent/personal-finance/articles/5-ways-to-make-100-fast/