Oh, extra income…
Whenever I share my posts about making extra income, my inbox gets flooded with emails. I get multiple emails every hour, sometimes over 20 in a single day. I love your questions, and I understand many of you have different reasons for wanting to earn extra money. Not everyone has a blog, but today I’ll talk about the various ways I make extra money. I’ll cover more methods in future posts.
Right now, before taxes and expenses, I’m making about $5,000 a month in extra income. This month looks to be about the same. I’m using this extra money mainly to pay off my $38,000 student loan debt as quickly as possible. After April, I’ll probably start putting most of it into savings. I can only dream about where this could lead. Just last year, I was thrilled to make a few hundred dollars a month in extra income. Now, my goals keep growing.
I’m a big believer in diversifying your income sources, whether it’s extra income or your main income. This way, you’re better prepared if something goes wrong. Also, don’t use your extra income just to keep up with others. Use it for what truly matters to you.
There are many ways to earn extra income, but you need to consider a few things:
– How much time do you have? An hour a day or five hours? Maybe just weekends?
– How much do you want to earn? $50 a month or $5,000?
– Can you do this without affecting your main job?
– Do you want to have fun while making extra money?
Here are some ways to earn extra income. I’ll go into more detail on these methods in future posts, so stay tuned!
**Having a Blog**
Starting a blog can be a great way to make extra money if you have the time and put in the effort. The first year of blogging is the hardest, but if you get through it, you’ll likely succeed. A blog makes it easier for people to find your writing and contact you, especially if you want to be a freelance writer.
If you’re interested, you can start a blog in minutes. It’s easy! Use my affiliate link to get your domain and hosting, and make sure to start an email list with AWeber. Not having an email list sooner is something I regret, but I’m glad to be starting now.
Bloggers make money mainly through direct advertising, Google Adsense, and affiliate links.
**Renting Out an Extra Room**
We have four bedrooms and only use one. So when my sister needed a place to stay, we invited her to live with us. She pays around $325 a month, and since she’s rarely home, we haven’t noticed a big increase in our bills.
While I don’t plan to add more roommates, renting out a spare room can be a good way to make extra money if you have the space and don’t mind sharing.
**Mystery Shopping**
I used to do a lot of mystery shopping, especially for food and cosmetics. It was fun and I got free stuff! I recommend Bestmark for mystery shopping.
**Selling on eBay**
Over the summer, I sold a lot of items from my closet on eBay and made over $1,000. You can also use Craigslist or specialized websites like Bag Borrow or Steal.
**Freelance Writing**
In Fall 2012, I started writing for various websites and blogs. Now, I write for two personal finance blogs and one hotel in the Caribbean. If you have the time, freelance writing can be a great way to earn extra income.
**Becoming a Virtual Assistant**
I recently started working as a virtual assistant. It doesn’t make up a large part of my extra income, but it’s there. Virtual assistants can manage social media, handle newsletters, work on websites, proofread, edit, do market research, handle emails, and more. The possibilities are endless.
If you want to learn about more ways to make extra money, check out my post “75+ Ways To Make Extra Money.”
Are you making extra income? How so? Please share! Also, why do you want extra income?