5 Best Ways to Make Money in Your Spare Time

5 Best Ways to Make Money in Your Spare Time

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Almost everyone could use more money. Whether you’re currently employed, unemployed or own a business, wouldn’t it be nice to have one (or maybe even several) new sources of income? Today it’s simpler than ever to think of creative ways to earn extra money. Check out these 5 creative ways to make money in your spare time.

1. Crowdfund a Project

Crowdfunding on sites such as Indiegogo, Kickstarter and many others lets you raise money for almost any type of project. People use crowdfunding sites to fund independent films, albums, businesses, inventions, and books. The catch here is that you can’t just post a project and hope people will contribute.

To succeed, it’s essential to do plenty of promoting. If you already have a large social media following, it’s even better. You can, however, succeed even without a large contact list if you’re ambitious. One crowdfunding trick is to make a compelling video for your project and promote it widely.

2. Offer Freelance Gigs

This is a great way to make extra dough, whether you’re a student, stay-at-home mom (or dad), or someone with a full-time job. It’s also a way to plan a more lucrative retirement strategy, as it lets you choose your own hours and supplement your pension, social security, or other payments.

Sites such as Fiverr.com let you offer virtually any type of gig, including graphics, programming, website design, writing, or making promotional videos. If you prefer to perform local in-person gigs, try TaskRabbit or simply advertise on Craigslist. Some ideas for local gigs are dog walking, housecleaning, doing errands with your car, and house sitting. Or tutor people in your favorite subject, either online or offline.

3. Sell Products Online or Offline

Not that long ago, your best options for selling physical items (if you didn’t have your own store) was to throw a yard sale. Now, there are countless other options, such as eBay, Etsy, and Craigslist. The first step is to sell items that you already own. You don’t have to stop there, though.

Wherever you go, look for great deals. Check out other people’s yard sales, thrift shops, and auctions. Look for closeout items or anything that’s a good deal and sell it online. If you want to ramp it up, start your own online store. Ecommerce is a huge trend that will only get bigger in the coming years. There are several options, such as buying wholesale or dropshipping, where you don’t have to stock your own products.

4. Rent Out Your Home

There are now more and more creative traveling options, from AirBNB to corporate housing for business travelers. This is an opportunity if you have any extra space, whether it’s a single room, an apartment or an entire home. If you live in an area that’s popular with tourists, consider renting out a room. If there are many businesses and convention centers nearby, business travelers are a potential source of income.

5. Become an Expert Investor

You don’t need to start with a huge bankroll to make money investing. At whatever scale is appropriate for you, learn the ropes and invest in stocks, bonds, real estate, or other investments. Depending on your financial situation and what you’re comfortable with, choose either conservative or more speculative investments. If a certain type of investment interests you, take the time to learn about it. Don’t just jump in and invest all of your money at once.

For example, if you’re interested in currency trading, learn about the markets and platforms first. Today’s technology provides many convenient options to learn about investing, such as software programs that let you paper trade before you invest real money.

There are now more ways than ever to make extra money. Some of these methods are useful for earning a few extra dollars. Others are potential full-time businesses. Start slow, study people who have succeeded, and acquire the necessary resources. In many cases, all you need is an internet connection.

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