How to make more money on the side
Would you like to learn how to make more money?
Stupid question, Theresa! Even if you have a balanced budget with no debt and an emergency fund, most people can think of a lot of ways to use more money! You could help your husband with his Toyota Tundra Crew Max TRD short bed pickup truck fund or even start saving for Christmas in June!
In the financial class that I facilitate, there's almost always a point when people realize that they’re spending too much money.
I have to be honest with you - that realization hurts! I’ve been there!
Sometimes that realization is too much reality, and they wad up their budget and drop out of class. It’s no fun to look your stupid decisions in the face and see the consequences! When people really start to hate their debt they make a plan to get out of it and also start to think, “how can I make more money?”
So, lets say you already have a good job and need a little extra cash or you are a stay at home mom and want to help out with the bills, but don’t know how to make some extra money. You need a side hustle!
In the past, I never had a great list of side hustle ideas for the people in my class. Historically, I was pretty limited with my suggestions: drive for Uber, deliver pizza, babysit, and sell stuff. And my favorite was sell stuff. I really love purging to get rid of clutter and make cash. (See Forms tab for my Guide to Selling and Sorting) or check out the blog post here.
But I have a great list now! I just finished reading a cool book on Kindle that is called Buy Buttons: The Fast-Track Strategy to Make Extra Money and Start a Business in Your Spare Time by Nick Loper. I picked the book up initially for information on promoting a business website but what I got most out of this ebook were lists of ideas on how to make money in non-standard ways that don't necessarily involve pizza, Uber, or childcare!
I’m going to pick a few from each category and list them here, but I would also encourage you to read Buy Buttons on your own. It’s selling for $3.99 on Kindle, or you can read it for free if you are on the KindleUnlimited program (which I like because I read so many books and it saves me money in the long run). It's also available in paperback if that's your thing, for $14.99.
If you do read this book, you might find that a particular section doesn’t apply to you, but just skip ahead a page or two and I'm sure you'll find something that will interest you. I particularly liked that the author gives a little bit of information on the category with examples of possible income platforms and a story of a person he knew and how they used that system to make money. The writing style is easy to read, without any extra fluff, but well edited (sometimes eBooks look like a gorilla typed them!) And, Nick Loper seems to know this 'side hustle' realm pretty well - he also has a blog, SideHustleNation.com, which he says is a ‘growing resource and community for aspiring and part-time entrepreneurs’.
Buy Buttons starts out going over ‘sharing platforms’. Sharing Platforms are existing ways to start to monetize your underutilized assets. Ask yourself what you have that is not used and how can it be ‘shared’ for your gain (a room in your home, your car, boat, city, money, opinion). Search the lists for ways to capitalize on your stuff/time/knowledge.
The next section is for existing specialty marketplaces where you can sell your skills and physical or digital products.
The final section is Reselling Market Platforms which was the topic of my Guide to Selling. (See blog post here). He threw in an interesting twist where instead of just reselling as a bonus to the decluttering process, you actively search out undervalued or free things from Craigslist or Thrift stores, and resell it (buy low and sell high).
My advice for any extra money you earn is to decide before you make it how you will be spending it. Make a plan! It’s easy to make $50, and think “hey, I have an extra $50 to spend”, and then spend it three different times, resulting in overspending of $100 instead! Make a budget for yourself in advance! If you need a template for your budget look in my 'Forms' section!