Chances are you have something you’re saving towards, maybe it’s remodelling your home, a trip overseas or even preparing for a new child. Whatever your incentive to save, one of the best ways to save more money each month is to increase how much money you’re making. Finding big and small ways that you can increase your monthly income is a great way to be able to increase how much money you’re saving each month. Here are 5 ways to make extra money:
1. Investing
Investing can be a great way to make more money. You have a ton of options for what you can do to invest, you might find that spending a little money investing in your spare room to rent it on Airbnb can be a great way to create an additional income source for your family. Likewise, you might want to look into shares or mutual funds as a longer-term way to make extra money. It’s important to do proper research before beginning to invest, and be sure to ask around friends and family to see what they’re doing. Some people prefer to invest in precious metals such as silver and gold if this is something you’re interested in why not check out Sprott Inc. silver bullion.
2. Freelancing
Working online is a great way to have an easy home based side hustle. You can work around your current commitments, as many online jobs provide great flexibility as to when the work needs to be completed. If you’re not sure what you can freelance in, here are some popular suggestions: freelance writing, consulting, social media management, virtual assistant, data entry and design work. You can even take on jobs and outsource the content creation to Rex Originals allowing you to focus on other aspects of the workload.
3. Garage Sale
It can be the perfect combination of tidying up and also making a little bit of extra cash. Go through your home and look for things you haven’t used in a long time. Why are you holding onto it? Is it something you’re sure you’ll use at a later date, or are you keeping it because you spent money on it and you don’t want to give it up? At the end of the day, the money you’ve spent is long gone, so now it’s just about whether you’ll use it or not. I suggest going through each area of your home and clearing out what you’re not using. You can either host a garage sale, clothes swap, or even list the items online such as Craigslist or Ebay.
4. Babysitting
If you like children and want a bit of extra cash, babysitting can be a great way to make extra money, especially if you’re at university or college. Check out local advertisements in supermarkets, online and even on Facebook to see if there are any opportunities that you would be a good fit for. You may also have friends or family members who need a little extra support with their children and are happy to pay for it!
Making extra money is an excellent way to boost the savings fund up fast.
