Ways To Earn Extra Income
By Priscilla Yang
The financial genius Warren Buffett advised that you should “never rely on a single source of income.” Mr. Buffett’s advice is one of the most important things to remember when working towards financial freedom. In an effort to be like Buffett, I explored some ways to earn extra income that are simple and easy.
1) UTILIZE MONEY SAVINGS APPS
Ibotta is an app that can be a quick and simple way to earn a little extra money or you can maximize your earnings by investing more time into it. I personally take the quick and simple route because I’m busy with other things and am fine with earning solely based off of what I typically purchase anyways.
If you’re like me and are okay with that, then all you need to do is follow these simple steps:
- Download the Ibotta app and sign up using your email or Facebook login information.
- Find offers from your favorite stores.
- Redeem offers by taking a picture of your receipt and uploading it. (Make sure all eligible items are selected prior to uploading to ensure that you get credit.)
- Earn money. Watch your money in your lifetime earnings grow.
If you want to earn more money, one thing that’s great about the app is that you can tap into bonuses. You can work as a team with all your friends (link to your Facebook account) to redeem unique offers that’ll earn you more money. For example, there are always monthly bonuses. If you and your team redeem all offers that are listed and earn a combined amount of money, you’ll each earn a monetary bonus that goes towards your earnings. If you don’t want to do that, there are still many other bonuses that you can earn, which range from $0.50 to $20.00.
Once you hit $20, you’re able to withdraw your earnings via PayPal or Venmo. You can also receive your earnings through gift cards at various stores and restaurants such as Best Buy, IHop, Footlocker, Target, Wal-Mart, Starbucks and Amazon.
Ebates is another app you can use to earn extra income. If you love online shopping, this is the app for you! All you have to do is sign up, find the store you want to shop at and Ebates will track your purchase. New users earn $10 after their first purchase of $25 or more. You get to choose if you want your $10 in cash or in the form of a gift card. Every store has a different cashback amount. Currently, Macy’s is giving up to 6.0% cashback and Groupon is giving up to 9% cashback. Ebates pays out four times a year; February 15, May 15, August 15, and November 15.
The Walmart Savings Catcher is the newest savings app I began using. I started using it March 1st, 2018 to see how much I could really save in one month. With my third child due very soon, I decided to start stocking up on diapers, wipes, formula, and bottles. I kid you not, the Walmart app is the easiest savings app I’ve ever used! All you have to do is scan the QR code or barcode and the app does the rest! The savings app will compare Walmart’s prices with surrounding stores and if another store had any of the items you purchased for a lower price (including weekly sales), Walmart will credit you the difference in the form of an e-Gift card. What’s even greater about this app? There’s no minimum amount that you have to reach in order to use your e-Gift card. You could have $0.75 or $10 on it and use it towards your next purchase.
2) SELL THINGS YOU DON’T NEED
Selling items that you no longer use or need is a great way to earn extra income. There are numerous ways you can go about doing this.
- Host a yard sale. This is a bit “old school” but can be very effective if you have enough items you want to get rid of. You can also team up with friends or relatives to do this!
- Post on Craigslist. Selling items on Craigslist is a great way to get rid of unwanted items while making a few bucks. Always meet your buyer during the daytime and in public. Safety first!
- List items on Facebook’s Marketplace. This is my favorite go-to selling platform. You can list almost anything for sale, from baby clothes to cars. With everyone on social media, you are bound to sell your items quick! Whenever I use Facebook to sell items, they are sold within 2 days max.
- Use apps to sell items. There are many different apps that you can find in the app store that focus on selling (and buying) used items. LetGo, ThreadUP and OfferUp are a few popular apps you can try.
- Consignment shops. Take your unwanted items to a consignment shop. I sell my children’s old clothes to a children’s consignment shop called “Once Upon a Child.” They offer a good amount for children’s clothing, toys and books. If I didn’t bring my children’s old items here, I would have thrown them away, so this is a good way to get the most out of old, unwanted items.
If you like to write, you can get paid for it! The opportunities are endless when it comes to writing. You can explore content writing for websites or article writing for online/print companies. Every company has their own requirements – some want to see a sample of your writing before they offer you paid work while others have other simple requirements you have to meet. Websites like Upwork.com also offer writing gigs that you can apply for.
Collecting your cans and taking them to recycle once a month or every few months can put some extra money in your pocket. It can get messy if you don’t have a backyard or extra space, but if you do, it’s very simple. Simply separate your aluminum, plastic and glass products and when you have a lot, you can search for a local recycling company. The payout amount depends on how many pounds of recyclables you have and what the material is; you can call and ask what their rates are or check online before you go.
5) VIRTUAL JOBS
In today’s day and age, the Internet allows people to work from the comfort of their own home. There are various virtual jobs that you can get paid to do such as:
- Virtual teaching. VIPKID is an online education firm that allows you to teach children via the web. You have to have a Bachelor’s Degree or higher to be eligible. They also offer tests in order to assess your ability to teach certain subjects.
- Virtual assistant. You can help companies with their day-to-day tasks as a virtual assistant. This includes scheduling, making calls, and responding to emails. Many companies require minimum requirements, such as past experience or specific time frames that they need you to be available.
- Bookkeeping/data entry. Most of the time, companies will give you a deadline to complete bookkeeping or data entry services for them, such as a week or 3-4 days. You work at your own pace, as long as the job is completed by the deadline. This type of work is usually paid out per task, not per hour.
- Customer service. Many companies will hire work-from-home customer service agents. Some ship out equipment to you, while others require you to purchase your own microphone and to have a computer with internet. These types of jobs require your full attention, so if you have small children, it’s not ideal.
Earning extra income is always beneficial. It allows you to save more than what you normally bring home from your “regular” job. You can put more money away for the home you want to purchase or the vacation you’re planning for your family; you can pay off more bills; you can start working towards financial freedom. Don’t ever feel like you’ll always be stuck in your current financial situation, because there are always ways to change and improve it.