Tue. Mar 31st, 2020

Personal Finance: 5 Ways To Earn Extra Income Every Month

Do you need extra income to pay bills, save for the future, or just to enjoy? A little extra cash in your pocket each month would come in handy for any of these or other reasons. There are many ways in which you can cut down expenses and save more money than usual which will leave more cash in your hand at the end of each month. While these five tips may not fit what you are looking for, they should stimulate you to find something along the same lines that will.

If you are into crafts or woodworking, set up a craft of the month business.

In January, you can make something with a winter theme. Follow in February with a Valentine or president them. March will offer you a chance to make a kite, spring, or St. Pat’s craft. Carry this pattern through all twelve months. Look for things that will give you a chance to vary the theme from year to year. Make the crafts about three months ahead of time and offer them for sale.

Start a seasonal sideline.

Each season offers its own variety of items that are marketable. The old choices of lawn mowing, leaf raking, and snow removal are always available if you have the access to the right tools. You can also tie in an online drop ship business for rain gear in the spring and fall. Summer recreational items and warm winter items are also good sellers. Be creative and this should not be a tough alternative to make happen.

Have yard sales in warm weather and rent a booth in a flea market in cold weather.

By shopping in thrift and resale shops as well as flea markets and yard sales, you can accumulate plenty of items that can be sold for a profit. You just need to take enough time to become educated regarding the value of collectables and other items that are easy to sell. Do not buy anything unless you believe it is well below the market value. Otherwise, you may either lose money or have to hold it a long time before it sells.

Put a date on every item that you buy other than clothing.

Use this date to track how long you have had the item. When items reach anniversary dates, consider selling them. In this way, you can remove clutter from your storage spaces and raise cash. Look at the purchase date and decide if it is really an item that you actually use or just store. Items that you do not use should be sold unless you know that you will use it soon. Since you buy things every month, selling off unused items by purchase date will assure that you almost always will have extra cash coming in every month.

Use the Internet and other types of opportunities to set up passive incomes.

While many people think poorly of multilevel marketing, many others have found it to be a gold mine. If you are someone with a huge social circle and a slant toward sales, this can be a great thing for you. Essentially, you recruit people to buy and sell products through a multilevel marketing company like Amway.

Once your network is well established, your monthly income should be, too. Websites, writing sites, and other online opportunities offer paths to passive income. Investigate what will work best for your circumstances and personality.