Know the difference between an asset and a liability. The dividing line is whether it puts money in your pocket, or takes it out. As much as you love your home, for instance, it is a liability rather than an asset because you put more money into it than you get out of it (unless you're flipping it or renting it out). Whatever money you save, invest it in assets such as stocks, mutual funds, patents, copyrighted works--anything that generates interest or royalties. Eventually, you might get to the point where your assets are doing the work for you, and all you have to do is sit there and make money!
Most people have more clothes in their closet than they ever wear. You likely have items you haven’t worn in the past year that you never have any intention of wearing ever again. Whether you sell your clothes, handbags, or shoes there are quite a few websites that allow you to sell your used fashion items. Poshmark, Refashioner, TheRealReal, ThredUp and Tradesy are a few of the online sites where you can sell your used apparel. You could make money online by selling on several different platforms. If you’re looking to sell items in person, you can use Facebook buy and sell groups in your community to find people online and sell the items in person. I’ve personally sold in these groups before and know they work.
Chase Sapphire Preferred® Card – Want an even bigger bonus? Consider the Chase Sapphire Preferred® Card instead. With this card, you’ll earn an amazing 50,000 points after you spend just $4,000 on your card within 90 days. If you turn in those points for cash, they are worth $500! Obviously, you’ll want to pay your balance in full to avoid interest. As long as you meet the minimum spending requirement, this $500 is yours to spend. Plus, this card comes with no annual fee.
Jack up your prices. If you're providing a skill, service or product that is in high demand and low supply, and you're making the most of your time, you should be making good money. Unfortunately, there are many people who are too humble or fearful to demand that they get paid accordingly. It's the pushovers in life who get taken advantage of and exploited, so if you think you might be one of them, learn how to stop being a people pleaser. If you work for someone else, ask for a pay raise or get a promotion, and if none of that pans out, revisit your career options as described previously. If you're self-employed, the first thing to do is to make sure your customers and clients pay up on time--this alone can substantially improve your income. Check your prices and rates against those of your competitors--are you undercutting them? Why? If you're providing a superior product or service, you should be getting at least the average, unless your profitability depends on mass production, in which case you're probably making a lot of money and wouldn't be reading this article anyway!
If you don’t live in a bottle deposit state, you can still cash in on recyclables by selling scrap metal. You may not have enough soda or beer cans lying around to make this worthwhile — and steel prices are so low right now, it’s not really worth the bother to go collecting them. But if you do have a lot of aluminum cans on hand, or if you have any scrap metal with copper in it, find a local recycling center and see what you’ll get (prices vary wildly by market). Still, unless you have a lot of copper pipes lying around the garage, or bags and bags and bags of old soda cans, realistically, we’re probably talking about getting $5 to $20 back.
Donate Blood Plasma. This hack comes from fellow blogger Melissa Blevins, who has been making upwards of 400 dollars a month donating blood plasma. If making a few extra dollars wasn’t good enough, donating blood plasma can save lives. Need more reason to donate, donating blood plasmas can burn 650 calories, beats the exercise bike for an hour! (420 calories)
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You can earn money online on websites like Virtual Assistant Jobs, Indeed, or Upwork. Many virtual assistants have also found ways to make money online by reaching out to brands and entrepreneurs asking if they’re interested in hiring a virtual assistant. Using a combination of job posting applications and outreach, you’ll be more likely to make money fast. Build an active social media presence on Twitter and LinkedIn to help you find new clients.
Need more ideas on how to make money online? Another strategy is using webinars to market your product, service, or course. I’ve done webinars to promote my financial planning practice and to drum up interest in my online course for financial advisors. With a webinar, you’re basically offering a lot of tips and advice for free — usually in a live format. At the end though, you pitch your paid product or service with the goal of securing a few deals.
Honestly, however, this may not be very realistic for a lot of people. I wouldn’t count on this if you’re trying to make your rent, and you’re putting all of your eggs in one basket. First, someone has to look at your location and listing photos and say, “Sure, I’d like to stay there,” and that may or may not happen within a month. It may never happen.
What are dividend stocks? They are just like regular shares of stock, but with one exception: For every share of a dividend stock that you own, you are paid a small portion of the company’s earnings. Basically, you get paid just for owning the stock! If you are looking to get started with dividend investing, check out Ally Invest (which is included on our list of best investment apps).