Exploring New Income Streams: 34 Ways to Make Extra Money
Is your bank balance looking a little lower than you’d like these days? Take it as a sign to dip your toes into a new income stream to make some extra money. With the right approach, you can boost your finances without sacrificing too much of your free time.
To help you navigate the myriad of options available, financial guru Dave Ramsey has compiled a list of 34 legitimate money-making opportunities. Let’s explore some of the most accessible and rewarding options.
1. Cash-Back Apps
There are numerous mobile apps that pay you for shopping. Apps like Ibotta, Dosh, Rakuten, and Payce allow you to earn cash back when you shop at popular retailers such as Walmart, Target, and Old Navy. Simply scan your receipts to earn a small commission on your purchases.
2. Stock Photography
If you have a collection of photos on your smartphone, consider turning them into passive income through stock photo sites. While there’s no guarantee of sales, platforms like Shutterstock and iStock provide a straightforward way for budding photographers to monetize their work.
3. Participate in Focus Groups
Brands are constantly seeking honest feedback about their products and services. By joining Focus Group, you can participate in online, offline, or telephone research studies and earn reward points redeemable for gift cards or virtual debit cards.
4. Social Media Influencing
If you have a decent following on platforms like Instagram or TikTok, consider partnering with brands to promote their products. Sponsored posts can earn you extra money, and the more followers you have, the more lucrative this income stream can become.
5. Tutoring
Tutoring is a fantastic way to earn extra cash, especially for high school and college students. Websites like Tutor.com connect you with students who need help in subjects you excel in, allowing you to earn between $20 to $25 per hour.
6. Food Delivery Services
Turn your vehicle into a money-making machine by joining food delivery apps like DoorDash or Grubhub. You can choose delivery assignments that fit your schedule, making it a flexible option for earning extra income.
7. Task Services
If you enjoy DIY projects or have skills in cleaning or organizing, consider advertising your services on TaskRabbit. You can earn extra cash by helping others with tasks they may not have time for.
8. Blogging
Blogging can be a lucrative venture if you find a niche with a large audience. Once you establish a following, you can monetize your blog through ads or affiliate marketing, potentially earning passive income over time.
9. Rent Out Your Space
If you have a vacation home or a spare bedroom, consider listing it on Airbnb. Renting out your space can provide a significant income boost, especially during peak travel seasons.
10. Sell Old Electronics
Don’t let old laptops or smartphones gather dust. Sell them on platforms like Gazelle or Swappa to earn some extra cash, which you can use for upgrades or to pad your bank account.
11. Declutter and Sell
Take a Saturday to declutter your home and sell items you no longer need on eBay, Facebook Marketplace, or Poshmark. You’d be surprised at how much money you can make from items that are just taking up space.
12. Event Photography
If you have a professional camera and a knack for capturing moments, consider offering your services as an event photographer. You can promote your work through social media or your own website, earning between $20 to $33 per hour.
13. Freelancing
If you have skills in writing, graphic design, or digital marketing, consider freelancing on platforms like Fiverr. Many brands and entrepreneurs are looking for help with content creation, and you can set your own rates.
14. Ridesharing
If you have a reliable vehicle, consider driving for Uber or Lyft. You can earn extra money by providing rides, especially during busy times like weekends or holidays.
15. Babysitting
Parents are often in need of babysitters for their children. If you enjoy spending time with kids, offer your services to neighbors or sign up on Care.com to find jobs in your area.
16. Sell Unused Gift Cards
If you have gift cards that you don’t plan to use, consider selling them for cash on platforms like Raise. You can earn up to 85% of the card’s value, turning unused cards into cash.
17. Online Surveys
Participating in online surveys can be a simple way to earn extra money during your downtime. Websites like Swagbucks allow you to complete surveys and cash out your earnings once you reach a certain threshold.
18. Pet Sitting
Pet owners often need help caring for their animals while they’re away. You can offer pet-sitting services through platforms like Rover or Wag, earning around $16 to $17 per hour.
19. Mobile Car Washing
If you enjoy cleaning and have the necessary supplies, consider offering mobile car washing services in your area. Many people appreciate the convenience of having their cars cleaned at home.
20. Baby Equipment Rental
If you have baby gear that your child has outgrown, consider renting it out through platforms like BabyQuip. This can provide passive income while helping new parents save money.
21. Resell Kids’ Clothing
Kids grow quickly, and their clothing often goes unused. Use apps like Kidizen or thredUp to sell gently used kids’ clothes and earn some extra cash.
22. Rent Out Your Vehicle
If you have an extra vehicle, consider renting it out through Turo. You can set your car’s availability around your schedule and earn money from renters.
23. Start an E-commerce Store
If you have a product idea or want to try dropshipping, consider starting an e-commerce store. You can begin by selling on platforms like Etsy or Amazon FBA before creating your own website.
24. Website Testing
Companies are always looking for feedback on their websites. By signing up with sites like UserTesting, you can earn money by testing websites and providing your insights.
25. Virtual Assistant
If you’re organized and have good research skills, consider becoming a virtual assistant. You can connect with businesses on platforms like Zirtual or Upwork, earning between $14 to $22 per hour.
26. Teach English Online
With a bachelor’s degree and a reliable internet connection, you can earn extra cash by teaching English online through platforms like VIPKid. You can set your own hours and work from home.
27. Social Media Management
If you enjoy social media but don’t want to become an influencer, consider social media management. Help companies build their online presence and create engaging content, earning around $23.76 per hour.
28. Grocery Shopping Services
If you enjoy shopping, consider working with apps like Instacart or Shipt. You can earn money by shopping for groceries and delivering them to customers in your area.
29. Car Advertising
If you don’t mind driving a vehicle covered in ads, consider joining Wrapify. You can earn passive income by simply driving around town.
30. Amazon Flex
With a four-door vehicle and a valid driver’s license, you can earn extra money delivering packages through the Amazon Flex program. You can set your own schedule and work as much or as little as you like.
31. Roadie Delivery Service
Sign up for Roadie, a dedicated courier service that allows you to pick and choose delivery assignments based on your availability and location. This can be a flexible way to earn extra cash.
32. Financial Coaching
If you have a passion for personal finance, consider offering your services as a financial coach. You can build your skills through coaching programs and charge clients for your expertise.
33. Sell Old Media
If you have DVDs, Blu-rays, or CDs that you no longer watch, consider selling them to Decluttr. Enter the barcode of your items to receive a price quote and earn cash for your old media.
34. Rent Out Your Items
Platforms like Fat Llama allow you to rent out various items, from electronics to bicycles. Create an account, list your items, and earn money from things you already own.
By exploring these diverse income streams, you can find the right fit for your skills and lifestyle. Whether you prefer the flexibility of gig work or the stability of a side hustle, there are plenty of opportunities to boost your bank balance and achieve your financial goals.