We all want to make more money, most of us just don’t know how or we fall victim to scams that cost us money. So what are some easy ways to make money on the side?
In this post, I highlight 10 easy ways to make money on the side. All don’t require much time or effort and none of them are scams. Of course, you get out of them what you put into them. Therefore, some reading this might make money using tip 5 while another person won’t. Just something to keep in mind.
Let’s get started!
10 Easy Ways To Make Money On The Side
#1. Open Bank Accounts
There are many banks out there that offer a cash bonus for opening an account with them. Back in the day, the bank would give you a toaster or a blender, but now it is cash, baby. All you have to do is look online for banks in your area to see what the bonus is. Many times it is around $100-$200.
Make sure you read the fine print for how to qualify. In some cases, you need to use your debit card and set up a direct deposit. Most banks require you to jumo through a bunch of hoops.
If you don’t want to go through the work, you can sign up for a Capital One 360 Savings account while in your underwear and make $25. All you need to to do qualify is deposit $250 when you open the account.
#2. Open Credit Cards
This is another great option. Most credit cards now offer new cardholders a signup bonus when they activate a card. If you spend $3,000 over the next 6 months, you will get 50,000 bonus points. While the conversion to dollars isn’t great, you can use these points for free flights or hotel stays. So while you aren’t technically “making money” you are getting something for free.
In other instances, a cash back credit card might offer bonus cash back for the first few months. The offers are out there, you just have to find them.
#3. Enter Giveaways
There are giveaways all over the internet. Some offer free books while others offer Amazon gift cards or plain cash. Again, cash amounts vary, but usually range between $25 up to $1,000! Most even offer multiple chances to win. You can find out more about current giveaways here.
#4. Sell Stuff
Odds are you have a ton of stuff laying around your house you never use. Sell it. Use Craigslist or ebay to sell your stuff. Once you get the hang of listing things, it becomes a breeze.
I do this all of the time and bring in a few hundred dollars a year. Here’s a tip for getting the most money. Before you list anything, jump on eBay and search for it. When the results show, scroll down the left side of the screen until you see the option for completed listings. Check the box and you will only see the prices for items that sold. This will give you a good idea of the item’s value.
#5. Cut Expenses
Again, not technically making money, but when you cut your expenses, you save money which ends up leaving you with more of your hard earned cash.
There are many ways you can go about cutting your expenses. For example:
- Shop for auto insurance. You can easily save a few hundred dollars a year by switching carriers.
- Find a new cell phone carrier. I switched from AT&T to Cricket. I pay $35 a month for unlimited calls and texts and get 3GB of data. If you sign up with my referral code, you’ll get $25 off your first bill!
- Use a free app. I love using Clarity Money. They scan through my expenses and tell me where I can cancel services. You can learn more here.
- Refinance student loans. If you have a lot of student loan debt, refinance to a lower rate and save a ton of money. You can learn more here.
#6. Automate Savings
Once again, I’m blurring the lines here, but this service is too great to not mention. Just take 3 minutes to set up your free account and have your purchases rounded up and money automatically transferred to a savings account. I can’t believe how easy it is.
One of the easy ways to make money on the side is with investing. When you invest in companies that pay dividends, you are making money. There are a handful of options for choosing a broker to invest with and you can compare the popular ones here. For ideas with what to invest in, check out Dividend Mantra. It’s a great site that will help you pick great companies and earn a decent dividend.
Once you have a handful of dividend stocks to invest in, head over to Motif Investing. They offer the best pricing on stock trades anywhere.
#8. Sell Scrap Metal
If you have scrap metal laying around, don’t just toss it, sell it! I collect the wires that come with electronic purchases that I know I never will use. When I am throwing out an old item that doesn’t work, I cut the power cord and save it. These cords have copper wiring inside. Once I have a box full, I take it to my local scrap yard and make some money.
The current price for this is around $0.75 a pound. Collect 100 pounds worth and you made $75. I’ve done this a few times now and walk away with around $100 each time. It takes no work at all either. You can even take it a step further and collect aluminum cans too. Be sure also to tell friends and family and collect their copper wire too!
#9. Drive For Uber
If you have some free time, you can drive for Uber. This especially works well if you live close to a large city or near an airport. While incomes vary depending on where you live, you could make around $25 an hour after Uber takes it cut. The key to making money with Uber though is to be smart and learn the ropes.
#10. Sell Yourself
Can you sing? What about draw? If you have any talent, you can start making money on Fiverr. The options are endless for making money on the site. As you get more and more positive reviews, you will start getting more and more money. Add on additional services and there is no limit to how much you can make.
So there are 10 easy ways to make money on the side (and here are a handful more!). Just by picking a few of these could turn into a few thousand dollars a year.
To find ways to make money, you have to keep an open mind and take advantage of a situation when it presents itself. As I said at the beginning, not every tip will work for everyone. You have to pick and choose to see what makes the most sense for you.
Readers, do you have any additional easy ways to make money on the side?
Hi, my name is Jon and I run Penny Thots. I’ve been interested in personal finance since high school and love writing and talking about it. You can learn more about me in the Authors section of this site.