There are many ways to earn supplemental income whether you’re already working full time or are unemployed. You can sell your old stuff on ebay, sell it for free on Facebook, buy and sell on ebay (see ebay bargain finder), sell stuff door to door see how much do catalogue distributors get paid), rent out garage space or a room in your house (tax free), take on another job or start an online business.
Before you tie up all your time looking for more ways to earn income, make sure you are not forgetting that the easiest way create more cash flow in your life is to look at your outgoings.
Ways To Earn Supplemental Income – Any Debt?
Do you have credit card debt? Do you continually spend more than you earn? Are you paying interest on your debts? You can save a small fortune by lowering the interest rate on your credit card by talking to your provider or switching providers. Use savings to pay off debt – it hurts to use your precious savings to pay debt but it is much more practical to use the money which earns less interest than you are paying in servicing debt.
Ways To Earn Supplemental Income
Here are a few more ideas which you can use to make some extra cash:
- Sell your old stuff on a car boot sale
- Run a car boot sale and charge for entry and tables
- Sell your parking space – This is particularly valuable if you live near an airport
- Take in a lodger in a spare room
- Sell a skill you have – can you teach school level subjects or a musical instrument?
- Declutter your house and sell stuff on Facebook or Ebay
- Pet walking – Start a pet walking business
- Baby sitting – do you know anyone who would want a babysitter?
- Become a TV extra – TV extras get occasional work in the background of television programs
- Pet-sitting – Advertise yourself as a pet sitter
- Are you entitled to benefits? You may be eligible for tax credits, housing or income based allowance
Ways To Earn Supplemental Income – Count Your Spending
How much do you spend on a daily basis? Do you spend on autopilot on things which you could do without? Take a note of your “Latte Factor” by writing down everything you spend on for a full week. You will be surprised at the results. A “Latte Factor” is what David Bach refers to in his book “The Automatic Millionaire”. This is the often uncounted factor which determines someone’s cash flow/wealth. If you spent £5 per day on a latte and a biscuit from Starbucks, given a 7 day week of this behavior, you will spend £1820 a year just on latte’s and biscuits. What unnecessary spending can you eliminate from your daily/weekly habits?
The Automatic Millionaire also discusses paying off debt in the fastest possible time, paying yourself first – setting up an automated payment into a savings account, paying off a mortgage early and living below your means.
Ways To Earn Supplemental Income – Online Business
The internet now offers anyone the opportunity to either buy and sell goods online, or even sell other people’s products and services online. This is called affiliate marketing and has allowed many online marketers to choose a lifestyle business over a traditional job.
Affiliate marketing allows anyone to create a blog, like this one, and promote and sell anything from it. The book above is sold by Amazon. If a book sells from my website, I make a small commission based on the sale I referred. By promoting and selling various products and services, affiliates can create multiple income streams from their blogs and advertising methods.
Learn how to start affiliate marketing business by clicking the banner below.