“Guard well your spare moments. They are like uncut diamonds. Discard them and their value will never be known. Improve them and they will become the brightest gems in a useful life.” ~ Ralph Waldo Emerson
The saying is a valuable reminder that anybody can produce finely cut diamonds by wasting spare time wisely. How is it done? Well, there are plenty of legit ways to generate and boost your cash flow. Always remember, earning an extra income is way better than frugality.
- Identify skills that people will pay for.
Capitalize your human skills and turn them into paycheck. Start by making a list of your unique skills and then find out what type of job suits you best.
For example, speaking more than one language increases the likelihood of getting more job opportunities. You can get paid by translating audio or documents into English or another language. Do you have programming skills? Meet the demand and be a software developer.
Meanwhile, if you want to work in pajamas and enjoy the comfort of your home, apply online jobs. Internet offers variety of work opportunities for aspiring freelancers such as data entry, proofreading documents, writing articles, virtual assistant, internet marketing or web designs.
Browse the businesses in this business directory listing for ideas!
- Determine your resources.
Effective utilization of unused resources can generate revenues. For example, you can rent out your spare room or parking space.
In addition, declutter belongings and identify high-value items like books, clothes, shoes, scrap metals, household knickknacks and sports equipment. Either present them online or through garage sale. Offloading not only helps you to have a cleaner living space but at the same time a nice pile of cash.
- Earn higher interest on your savings.
You earn interest out of your money deposited in the bank, hence you keep making money out of the money you put in a bank. If you want a higher yield of interest, first inquire all options at your current bank. If unsatisfied, shift savings to another bank or consider online banking.
You can also invest your money. Look for mutual funds with a low minimum-purchase requirement. Some mutual fund companies will allow investors to start investing with small deposits for as low as $25. As noted, this is an easy and relatively inexpensive way to build up a stock portfolio. (Source)
- Offer to do odd jobs locally.
There are many ways to earn big bucks, even by offering basic services in your spare time. Most of these can be done right at your neighborhood. You usually stand a chance because oftentimes, they hire someone they know and trust. Examples of these “odd jobs” are baby sitting, pet walking, washing cars, cutting lawns and gardening.
- Turn your hobbies into income streams.
Hobbies can turn into a side business. Monetize your passion, it is something you would do anyhow.
Nowadays, due to the advent of technology, target customers are easier to reach. Therefore, if culinary is your pastime, make use of your talent by selling home-cooked foods or pastries. You can also sell crafty needleworks such as embroidery and cross-stitch. Moreover, if you are skilled in graphic designing, sell out graphic T-shirt, mugs, souvenirs and other printables.