Everyone could use a little extra money. According to The Next Web, 86 percent of people in the United States say that they earn money from some side hustle — so why not you? Whether you have bills you want to pay off, something particular you want to buy or you need a little help making ends meet, supplementing your income is never a bad idea. Take control of your personal finances with these supplemental income ideas.
One way to earn extra income is through ride sharing like Uber and Lyft. Using an app, passengers arrange rides directly with drivers and the pay can be significant. Some drivers are getting up to $400 per week or more for their services. This is an excellent option because you set the schedule and can offer your services when you’re available.
People everywhere are earning as much as a few thousand dollars every month by renting out things they own. You could AirBnB a room in your home, use Turo to rent out your car, let people use your outdoor gear (e.g., bicycle, snowboard) via Spinlister or lend out your camera on KitSplit. It all adds up.
While you could pick up a part-time job to earn supplemental income, you could also use a service like TaskRabbit to perform small tasks for people. The site is popular for minor home repair services, custom deliveries, help with moving and other odd jobs. The pay for these activities isn’t very high, but it could be a good option if you have lots of free time.
You could also consider supplementing your income with sales. Companies like Amway help people get started in business without a massive investment. Using the platform, you can sell health and lifestyle products to people you know and even hire employees.
If you have money to invest upfront, you may want to consider using the power of online marketplaces like Amazon to sell products. While you will have to research products, find a supplier and invest in inventory, Amazon can handle the transactions for you entirely, so you never have to touch the product, handle a package or process a payment.
Real estate can take some significant investment, but not always. In many cases, you just need enough to get started. Consider buying a house or apartment and renting it out. As long as you can get the loan and rent the place for more than the cost of your mortgage, property taxes, property insurance and maintenance, you’ll turn a profit.
You can also start your own service business. Take something you are interested in and find a way to offer a service in that area. You could create a dry cleaning delivery service, provide pet sitting services, babysit or serve court papers. The options are endless. While you will never be able to earn more than the hours you work, you could expand your concept into a full-fledged company over time.
If you have a trade or skill, consider freelancing as well. Photographers, writers, bookkeepers and others can generate serious income by offering their services on an as-needed basis. You get the benefit of being able to work as often or as little as you like and, in some cases, freelance income can be higher than working for someone else.
There are many ways to supplement your income. You just have to pick something you like to do and spread the word — and you don’t have to choose just one. These ideas are only the beginning.