Tuesday, March 24, 2009

Make Extra Money

Well...not good news around our household. My husband got laid off yesterday. :( This was totally unexpected! So now, we are really going to be attempting to find more ways to save/make money. I have come up with a list of several ways to make extra money. These are not guaranteed to make you tons of money, but every little bit helps, right?

1. Have a Garage Sale - Sure, people are buying less these days, but more and more people are looking for great deals. As people's incomes are decreasing, they are turning to discount stores, consignment shops, and garage sales to find items they need at lower prices. Having a garage sale is a great way to sell all those items that you never use anymore, and have no space for.

2. Sell Items on eBay - If you don't have enough items to justify a garage sale, eBay is a great place to sell items that you no longer use. A lot of people also make money doing something known as eBay arbitrage where they scour for deals on popular products, buy them, and turn around and sell those products on eBay for a profit. For example, Office Deport may offer an unbelievable deal on a popular brand of laptop computer and limit it to only 5 per store. A person gets up early and purchases the computer and then turns around and sells it on eBay. You can find these types of opportunities on Slickdeals and FatWallet. I also knew one lady who went to garage sales and thrift stores looking for brand name clothes to re-sell on eBay for a decent profit. I know that I have done this, and have made a big profit on an item that I spent very little on.

3. Put clothes on consignment - During recessions people tend to shop more at consignment stores to save money on clothing. If you have a closet filled with clothes you haven't worn in over one or two years you might gather them up and take them down to the nearest consignment store. Some stores offer you more if you take a credit for their store. If you shop there regularly, this might be something that you should take advantage of.

4. Babysit - Babysitting is a great way to make a little extra money. You can post fliers at your local church, or throughout your neighborhood. There are also some websites out there where you can list home services. Also, many times places like grocery stores and colleges will let you post fliers on a bulletin board with approval.

5. Rent out a Room - If you have an extra room in your home consider renting it out to make a little extra cash. With foreclosures on the rise, more and more people will be looking for places to rent. I would recommend that you do some research of who you are letting into your home. You can never be too cautious these days, and you don't want a criminal living in your home.

6. Bake/Craft Sales - Do you make an amazing pound cake, or beautiful stationary? You might consider selling your bake goods at a local farmers market. For craft items you could sell them at local arts & crafts fairs, on eBay, or sites like etsy.com.

7. Medical research - More than a few people have made some extra money by participating in clinical trials and medical research. Some medical research is pretty harmless such as answering questions in an MRI machine. Heres an account from GetRichSlowly. You can also sell your plasma at local plasma donation sites. They actually pay really well, and you get a check as soon as you're done donating.

8. Marketing Focus Groups - You might look-up local marketing research firms in your area and call them to see if you can be placed on their calling list for upcoming focus groups. The way it works is when they have an upcoming focus group they will call people on their list to find people who qualify based on certain characteristics such as age, sex, products used in the past year, etc.

9. A part-time Job - Consider taking on a part-time job. Some common part-time jobs include catering staff, ushers at sports events, and other types of temp and seasonal work. If you are looking for a part-time job in retail, I would recommend trying to work at a place that you shop at regularly. This way you can get an employee discount on the items that you regularly purchase.

10. Start a Blog or Niche Site - Do you have a hobby or subject you are passionately interested in. You might consider starting a blog or niche website. A word of caution, everyone thinks they are going to make a ton of money doing this and it is very rarely the case. It takes a lot of hard work, dedication, and time before a site starts to cover the full cost of your time. But if you are passionate about a subject, and are already spending time on it, why not earn a little extra money running a blog about it and connecting with others who share the same passion.

11. Offer Your Services on Craigslist - Craigslist has several categories where you can offer up your services. Common ones include domestic service, man with a van, catering and other types of service related work.

12. Bank Promos - Be on the lookout for bank promo offers as they can be a great way to earn a couple hundred bucks per year. Just last week I was offered $50 to open a checking account with First Fidelity Bank. Many times, you can find these on SlickDeals and FatWallet. You could also setup a Google Alert for "Bank Promo" or other related keywords.

I hope that this list has given you some ideas on ways to make some extra money. If you have any other ideas, please leave a comment! We all appreciate suggestions during these rough economic times!


Mya said...

Sorry to hear about your husband being laid off. Hope he's able to find another job soon.

Great ideas for making some cash. Also Criagslist is amazing! I once made $50 off my daughters 5 year old crib bedding! (it was in excellent shape)

Bernadette said...

I'm so sorry to hear about your husband. I know that can be tough on the whole family--but it sounds like yo have some great ideas on how to make some extra cash until something new comes along!