The paper that makes money might grow on trees, but the green stuff itself is a lot harder to come by. With bills to pay and debts to clear, it’s essential to have enough in the coffers to fund your lifestyle. Otherwise, things can get a little tricky, and that’s when your finances escalate out of control. But, you can supplement your income.
All you need is to make a little extra money to supplement your income. With $50 to $100 per week in your back pocket, you’ll find it a lot easier to cover your expenses, whether they are predictable or unpredictable. Of course, working extra shifts and spending more time at the office isn’t preferable. You need a method of boosting your earning power without clocking in and out of the workplace seven days a week.
How to Supplement Your Income
The good news is that this post has got your back. Below are the six assets almost everyone can sell to supplement their salary. Read on to find out more about them and how to put money back into your bank account.
Opinions
Everyone has an opinion, but not everybody gets paid to publish theirs online. By working for review websites, you can make an extra $5 per review to spend however you like. Sure, it’s not much on the face of things; however, the amount adds up over time, especially as you don’t need to write more than two-hundred-and-fifty words. Companies such as Yelp! and Trip Advisor are excellent options, but you might want to choose an up-and-coming business to avoid competing with other like-minded people.
If reviews aren’t your thing, you should focus on surveys and questionnaires. Just like they want your opinion to sway new customers, businesses also need consumer advice for products and services. Answering straightforward questions such as, “what makes you more likely to leave a website without going to the checkout?” isn’t tough.
It is, however, essential market research info that firms are more than willing to pay for to the right person.
Car Parking Space
If you’ve ever been to a packed city, you’ll know what it’s like to park your car. Trying to find a space is infuriating, as well as costly, which is why commuters are happy to pay. You won’t be able to use it as your own during the hours they park, yet you might not use it anyway. In which case, it’s a no-brainer. JustPark is a fantastic advertising app that markets your garage to potential renters.
Please don’t assume this is only for the people who live in big cities. Commuters will also lease car parking spaces in commuter towns and villages. Why? It’s because it saves them money on fuel, which is getting more expensive while ensuring they don’t have to pay a fortune to park at the train station (if there’s a space).
If your home is in or near a location that’s busy with professionals, selling your car parking space might double your earnings.
Spare Room/Sofa
You’ve bought a house and have more rooms than you need for now. It’s not a rare occurrence – most homeowners buy homes with extra space in case they get married and have a family. Still, for now, the spare room is sat there doing nothing but collecting dust on the comforter. So, why not mobilize the bed and rent it out to a lodger. Yes, living with a stranger will take some getting used to, yet it’s not awkward!
An even more abstract option is to put your sofa up for rent. People who can’t afford standard accommodation options tend to sleep on other people’s couches. After all, it’s a cheap and easy way to save money while traveling. According to The Guardian, it’s better to advertise your home to couch surfers than it is to those who use Airbnb. Whichever methods you opt for, don’t forget to set ground rules to ensure there are boundaries.
Unused Cell Phone Data
Your cell phone contract doesn’t seem as if it has earning potential. After all, you’ve signed on the dotted line and can’t get a refund now. Actually, you can as long as you choose the correct data provider. At SMARTY Mobile, they calculate your unused data and take it off your next bill. At a couple of dollars per GB, you can save anywhere up to $5 every month.
Whatever phone provider you use, it’s worth analyzing their pros and cons and deciding whether you should switch. Spending too much money on a cell contract is one of the smallest yet most significant ways to waste your monthly budget. Start by opting for a flexible plan that allows you to cancel after a short period. Also, be sure to include enough minutes, texts, and data to cover your monthly usage.
Where possible, don’t include a handset in the cost as it only bumps up the price by an extra $50 for a minimum of two years. You can purchase a second-hand model for $150 and save up to $500 per annum.
Blog Advertisements
Blogs have become very popular in the last decade. Today, there are as many as 500 million blogs on the internet, so it isn’t presumptuous to assume that you have one, too. And, it might be a platform that gets plenty of visitors who don’t bounce and make a conversion. If this is the case, it’s time to sell your blog space to advertisers who want to market their brand.
Traditional methods of advertising are no longer as popular or lucrative as the new-age options. Blogs get as many visitors per day as TV ads get views, which is why companies are willing to pay a hefty price. Remember: loyalty and a diverse demographic are two features they need to expand into new markets and sell more units.
So long as you have the traffic and content to catch advertisers’ eyes, you can use affiliate or program marketing to make money. Also, you can sell blog space directly if you have the contacts.
Hobbies
The best way to make money is to use your hobby as a source of income. By doing this, you get to combine your passions with the ability to make money. The majority of people think it’s a pipedream, but the reality is much different. Depending on your hobbies, you might be able to charge a hefty fee to supplement your income.
The best example is photography. Finding a job as a professional photographer, even at weddings or family functions, is challenging. Customers want high-quality images and videos, and they prefer artists with experience.
Thankfully, stock image websites aren’t as picky. The demand for generic pictures that don’t have complicated licenses is high ever since the boom in blogs. Images are essential, but not every blogger wants to spend money on an expensive camera and a photography class. I use DepositPhotos.com for pictures on Money Q&A.
If you’re willing to sell your art for other people to use on their platforms, then you can turn your hobby into a money-spinner.
Things To Remember
Here are some things to keep in mind when you supplement your income:
- You might need to work hard: some of the above is only lucrative if you are productive
- Not every job is appropriate: selling a car parking space should be fine, but the idea of selling your blood, sperm, or eggs could be too much. Pick the method that is the most comfortable and suitable
- You’ll still need to work: at least in the beginning. However, in the future, you might be able to turn it into a viable business idea
How do you make extra money?