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Getting a handle on your finances is an important aspect of living a financially free life. Most often, the emphasis is usually on cutting back expenses in order to make ends meet, but what if I told you there was another way? Yes, cutting back on expenses is a great place to start. But, adding more money to your bottom line will not only give you the financial freedom you seek, it will also allow you the freedom to maintain your current lifestyle. The following are 15 creative ways to make extra money.

1. Sell Free Stuff from Craigslist

Craigslist is a great place to exchange goods and services and, for the most part, it is usually done for money. However, a little known fact is that craigslist is also a great place to get freebies. Whether someone is getting rid of something because they no longer have room for it or they have to abruptly leave their home, city, or state; there are some rare gems that you can resell for a decent return. The key is to look for free stuff on Craigslist that is currently selling on Craigslist or elsewhere. Some items will be in great shape but if not, spruce it up and resell either on Craigslist, a flea market, or a garage sale.

2. Sell Your Photos

Do you have a keen eye? Are your photos museum-worthy? Well, if you answered yes or no to any of those questions then you can sell your photos to stock photo agencies like Shutterstock, iStock, Adobe and other similar companies. It really doesn’t matter if you are a professional or novice; you still have the opportunity to make some money. Most work on a per download basis where you get paid a percentage every time someone downloads your picture.

3. Rent Out Your Room

If you have a spare room in your living space and want to generate some side income, consider renting it out. Use Airbnb to put your home to work for you, whether you wish to rent out your entire home or a single room. Think about this…If you’ll be traveling a lot this year, rent out your home to make some money while you’re away that can help pay for all of those adventures. That sounds like a great way to make some extra cash and travel for near free, if you ask me. And don’t worry, there are security protections in place that help make this option less terrifying than most would think.

4. Sell Your Skills

Do you have a voice that Simon Cowell would pay a compliment to? Are you a talented graphic designer that can take any concept and bring it to life? Are you an artist who can give Michelangelo a run for his money? If so, sites like Task Rabbit, Fiverr, and Thumbtack are great platforms to sell your skills. These aren’t only limited to those with creative skills; you can sell editing services, research services, typesetting, and the list goes on.

5. Teach Classes Online

Whether you are just starting out or a seasoned professional, there is something that you are good at! I am stating this as fact because even if it’s something you have never gotten credit for, chances are you have a skill that others may find valuable. Using this skill to make some extra income is possible thanks to platforms like Udemy. Many top experts use this as a lucrative way to earn passive income but you don’t have to be a top expert to take advantage of this option.

6. Become a Field Agent

You may think I’m talking about the FBI, but I am actually talking about the Field Agent app. You simply sign up for an account and do small tasks around town for different clients. Your task can range from checking prices at the local supermarket to conducting surveys. You get paid based on the assignment and you get to choose which you want to participate in.

7. Become a Secret Shopper

If you have a great memory, can pay attention to details, and report on what you see and experience, then making money as a secret shopper will be a cinch for you. Becoming a secret shopper is as simple as you registering with a company that provides that service, then going undercover to different stores and reporting your experience as a customer. You are paid for your insight and while you are at it you can enjoy some free meals, traveling and shopping. Not only are you earning money and perks but you are also helping to set the tone for how real clients should be treated.

8. Offer to Babysit for Busy Professionals

Babysitting may seem like an obvious place to start when wanting to make some extra money and you may be thinking that you are not cut out to babysit, but here’s the twist. Look for moms and dads who are busy professionals who have small children under five. They will most likely tell you that they don’t remember the last time they were able to enjoy a quiet night out. Offering your services to this niche population will not only be a lucrative undertaking, but an easy job to do as well because chances are you will be simply house-sitting as the children sleep. If you have extensive experience in child care, consider signing up for sites like Care.com where you can set your schedule of availability.

9. Give Your Opinion

When you were a child, you might remember your parents telling you to “mind your own business,” but as an adult taking heed to this advice can cost you. This is because you can get paid to mind other people’s business. There are companies that will pay you to participate in focus groups, phone surveys, online surveys, and even product trials.

10. Join a Direct Selling Company

Companies like Avon and Mary Kay have stood the test of time and they allow you to start your own business for very low money. Becoming a sales rep for a direct selling company is one of the easiest ways to earn some money, especially if you’re selling something you use and/or love.

11. Drive People Around

You can really make a decent living becoming a driver for either Lyft or Uber. If a living isn’t what you are after, driving people around can still give you that needed boost in your finances by only working part-time.

12. Get Paid to Listen

If you love music, you’ll love this gig. Simply head over to Slicethepie.com and start reviewing unsigned artists and bands to earn some extra cash. Your payment per review is based on the quality of the reviews you turn out on the site, so it may take a little time to build up your reputation. But according to Slicethepie, “The better your review, the bigger the bonus payment.” The site also offers a referral program where if any of your friends sign up using your referral code and write reviews, then you’ll receive bonus payments for every review they submit.

13. Deliver Meals

Join apps like GrubHub or Postmates and deliver to-go food on your free nights or weekends. You also have the opportunity to get tips and the freedom to make your own schedule.

14. Clean Out Your Closet

We’ve all stepped up to the consignment store counter to find out that the sweater from J Crew we never had the chance to wear is only worth $3. Womp. By selling your excess or used clothing on apps like Poshmark, you have the freedom to set your price and wait. Poshmark even provides the shipping label for you. If it doesn’t work out, you can always head back to your local consignment store or put the items on Craigslist.

15. Become a Dog Walker

Sign up with sites like Rover.com or Wag! to walk dogs or care for pets and earn some extra cash. Sign on at your convenience and help out local pooches whose owners are stuck at work or out of town on business. If the apps don’t service your area, contact local grooming and boarding to let them know you are available for pet sitting or dog walking.

Do you know of any creative ways to make money? Share your ideas in a comment below. We’d love to hear from you!

Ash Exantus aka Ash Cash is one of the nation’s top personal finance experts. Dubbed as the Financial Motivator, he uses a culturally responsive approach in teaching financial literacy. He is the Head of Financial Education at BankMobile and Editor-in-Chief at Paradigm Money. The views and opinions expressed are those of Ash Cash and not the views of BankMobile and/or its affiliates.

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Cutting Off the Joneses: The Art of Managing Lifestyle Inflation

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The road to reaching your financial goals can sometimes be very difficult and tedious. We tend to hold back from buying certain things, and sometimes, we live on a tight budget in order to make ends meet. But all this seemingly comes to an end when all your hard work pays off and you get a raise, and finally, you can treat yourself to something nice. However, getting a raise can lead you to one of the biggest challenges to reaching your financial goals — and half the time, you don’t even notice it.

Have you ever heard of lifestyle inflation?

Simply put, lifestyle inflation is when your spending increases as your income increases. This can include moving to a more expensive apartment, getting a new lease on a car, or making small, repeat purchases that add up over time. All these can make it hard to break out of living from paycheck-to-paycheck even when your paycheck gets a little bigger.

It’s easy to fall into this trap. After all, what’s the point of working so hard to get a raise if you don’t treat yourself?

While there’s nothing wrong with splurging a little, the cause of lifestyle inflation goes much deeper than simply wanting to treat yourself. An article by Marcus on why ‘Rising Income Levels May Lead to Lifestyle Inflation’, found that young professionals use material markers to express who they are, in order to demonstrate that their career or chosen path is rewarding. In other words, lifestyle inflation is generally caused by the desire to prove your position in life — manifesting itself through material items, the house you live in, or the places you go to. And although doing this can feel good in the short-term, lifestyle inflation poses a problem in the long run, as Trent Hamm of The Simple Dollar explains that lifestyle inflation hinders you from reaching your financial goals. Allocating most, if not all, of your new raise to your spending budget means that you’re not saving or investing any of it for later on — marking a roadblock to your journey towards debt freedom and financial wellness.

If you recognize yourself in these examples, fret not. Here are a few ways you can break the cycle:

Set goals for yourself. Our resident writer Ash Cash stresses in ‘Saving 101’ the importance of setting financial goals in order to save better. Having goals allows you to constantly remind yourself what you need to save for, and why, especially if it’s something you want badly. That way, you won’t be as tempted to stray away from your plan!

Cut out what you don’t need. You’d be surprised at the number of things or activities that you spend on, but can easily cut out of your expenditures. Of course, we don’t recommend doing this all at once. Start small and cancel subscriptions you don’t use anymore, or start eating out just once a week. Make small, manageable moves, and soon you’ll find yourself celebrating the joys of meeting your goals and saving more.

Track your expenses. After receiving a raise, the Balance cite that the best way to identify lifestyle inflation behaviors is to track your spending — even for just a short time. Once you recognize these behaviors, you can start cutting out purchases you don’t need.

Keep a “splurge” budget. Not buying or doing things you want will make you miserable, but overspending won’t be good for you in the long run, either. That’s why it’s a good idea to create a splurge budget for a week or month, and to stick to it. Purchases you don’t “need” come out of that budget, such as buying a new video game, ordering something online, or getting a coffee at a café even if you have a coffee maker at home. If you want something pricier than your budget for the week or the month, try to “save” that budget and let it roll over the next month so you can purchase the item. This way, a splurge budget lets you treat yourself, but also keeps you in check.

Article written by Anna Levy

Exclusively for paradigmmoney.com

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11 Ways to Save During the Holiday Season

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The holiday season is upon us, which means significantly more spending—and more potential to encounter financial trouble. Because of the emotional play many retailers use to get you to buy from their stores, it’s important to be overly vigilant with your spending during this time. Below are 11 ways you can save (instead of spend) during the holiday season.

1. Decide how much you can spend and make a plan.

Many people don’t like to use the word “budget” because it seems restrictive. However, creating a holiday budget or “making a plan,” as we’ll call it here for all intents and purposes, is imperative during the holiday season. By making a plan, you’re avoiding overspending and essentially telling your money what to do—rather than allowing it to be in control.

2. Open a holiday spending account.

Using your main checking account to do your holiday shopping is one of the biggest mistakes you can make during the holidays. Doing so allows you to tap into money allocated for other important things like bills and groceries. By opening a separate checking account for holiday spending, you’ll help yourself stay on budget. And once the money is gone, you have a clear stop on holiday shopping. Make sure it’s a free checking account, opening an account that charges fees would defeat the purpose of doing so.

3. Account for splurges.

Let’s be honest: you’re going to splurge this month. A dress for your office Christmas party? A sale at your favorite retail store? The jeans you’ve been eyeing for months are suddenly 40 percent off? We could go on and on, but you get the drift. Set aside a dollar amount that you’re willing to spend on yourself this month. Knowing how much you can afford will keep you from being swept up by “can’t-miss” deals.

4. Cut back on expenses.

Cutting back on expenses during the holiday season—or even before—will give you more money to allocate towards the holidays. Small changes like cutting your cable (you’ll be visiting family and friends most of the month anyway!) or avoiding takeout meals will save extra cash and make a big difference in your budget.

5. Track your spending.

Using a spending log is essential this time of year. Gifts aren’t the only thing affecting your budget—more social occasions means more spending. From extra Ubers to hostess gifts, your expenses can add up quick. This usually forces people to make decisions that they may not want to make, like tapping into credit or using money that is not allocated for holiday shopping. Using a spending log will keep your spending in check.

6. Narrow down your list.

It’s easy to get caught up in the fun of the season and want to gift something to everyone you’re close to. Let us remind you (as corny as it sounds) that presents are not what the holiday season is about. Take a look at your holiday list and be honest about what you can afford. It’s not fun, but your loved ones don’t want you hindering your financial future for them.

7. Set gift-giving expectations.

Setting gift-giving expectations is really important: If your love ones assume you’re going to spend a lot of money on them, they may feel obligated to do the same in return. Having a conversation early on about gift limits will allow both parties to avoid overspending, not to mention it will sidestep any ensuing embarrassment or guilt that comes with one party not giving an equally as lavish gift.

8. Take advantage of store offers and coupons.

Taking advantage of store offers and coupons should be a given, but you’d be surprised at how many people pay full price for things during the holiday season. Many people feel like they are competing against other shoppers to get the best gifts, so they don’t spend the necessary time finding the best deals. Don’t believe the hype! Make a shopping plan for each individual on your list. Research where you can find the best deals on the product and then sign up for company email lists. Follow sales and make purchases at the right time. Ordering presents in advance (or price shopping with ample time) not only assures that you get the best deals, but also that you don’t spend excess cash on things like rush shipping.

9. Be creative.

Being creative is about understanding that you don’t have to spend an arm and a leg in order to show your love ones you care. There are many people who are more appreciative of the thought that goes into a handcrafted gift than a purchased item from a big box store. Being thoughtful can have a lasting and more memorable effect than breaking the bank. Spending quality time with an elderly relative, helping a friend clean her home the day after a big party, or offering to babysit for a couple are just a few ideas.

10. Reduce decoration costs.

You may feel inclined to go all out when it comes to decorations, but if you’re crafty enough, you can save a lot of money by creating your own. If you really love holiday decor, wait until the season is over and purchase for next year. Prices for decorations are inflated during the holidays, so buying them during the off-season can save you a lot of money.

11. Remember the reason for the season.

We cannot repeat this enough: remember the reason for the season. The holiday season is not all about gift giving. Sometimes your presence is better than your present! The holiday season is about family and friends, and should be cherished in that way.

Do you have a holiday season savings hack that you swear by? ‘Tis the season to share!

11 Ways to Save During the Holiday Season was originally published on TheEverygirl.com.

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5 Tips for Holiday Break

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Photo credit iStock by Getty Images

Like most students, you’re probably looking forward to spending time with family and friends over the holiday break. But before you relax, take a little time first to size up your finances for next semester. Here are a few tips to get you started: 

Review Your Spending from Last Semester

Not sure where all your money went? Now is a good time to examine your spending from last semester by reviewing your bank account statements, check register, credit card statements and receipts (if you saved them). One way to do this is to make two lists: one with all your unavoidable expenses, such as tuition, rent, basic food costs and insurance payments, and another with everything else—in other words, purchases you wanted at the time but did not necessarily need. Now take a look at that second list. Bet you’re surprised at how many things you spent money on that you could have done without, or don’t remember why you purchased in the first place! Make a pledge to cut back on some of those items and watch your savings grow.

Save Your Cash Gifts

Did you get some cash in your stocking? You might be tempted to blow it on those irresistible post-holiday sales, but take a moment to think about your needs for next semester. Will you have enough money for books, school supplies, gas and other school-related needs? At the very least, plan to save 10-20 percent of your extra cash for unexpected expenses like car repairs or medical emergencies. Knowing that you have a little nest egg set aside will give you some peace of mind and allow you to focus on your studies.

Budget Your Anticipated Financial Aid Refunds

If you will be receiving a refund from your financial aid award next term, keep in mind that a good portion, if not all, of these funds may be from student loans that you signed up for. These funds will have to be repaid when you graduate or leave school, so it is important to budget and spend them wisely, and make sure you have enough money to last the entire semester.

Re-apply for Financial Aid

Remember, you must re-apply for financial aid every year. You can submit the federal FAFSA form beginning January 1, 2015 for the 2015-16 academic year. Your state and school may also require you to re-apply or update your information, so be sure to visit with your school’s website or contact the financial aid office for information on deadlines and other requirements. Also, check out Mary’s article in the Huffington Post for more information and tips on applying.

Look for Part-time Job Opportunities

If you think you’ll be running low on money next semester, start looking for some part-time job opportunities or increasing your hours at your current job. The best place to start your job search is right on campus. There are lots of jobs available, from library clerk to food service worker—check with the employment office or website. You might also want to consider capitalizing on your own talents to make some extra cash by offering services such as tutoring, babysitting, dog walking, or repairing cars or electronics.

Following these tips will allow you to enjoy your much-needed break and put you on a path to financial peace of mind for next semester—so start today!

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