People all over the country are hustling to make ends meet and get ahead so they can live their best lives and provide for their families. Creating the life you want for yourself and your family often means finding ways to make money in addition to your primary job. For some, this means finding a way to make money after losing a job. Regardless of the reason, there are plenty of ways to make money on- and offline that can start a new career or supplement an existing income.
Here are five ideas for you to make the extra money you need.
1. Liquidation Sales
Big-box retailers like Walmart, Target, Amazon, and Lowes utilize auction companies to liquidize products they can no longer sell in their stores. These are products that were either returned by customers and cannot be resold or products that are no longer being carried in the stores. The auction companies then sell the products by the pallet to individuals who then resell the individual products. You can buy pallets of products through Walmart whole sale auctions and then sell those products online through websites like eBay, Craigslist, or Facebook Marketplace. You can also sell through flea markets or garage sales. When you buy products by the pallet, you’re not able to inspect each item, so there’s some risk involved in what you’re buying. The goal is to get a low enough price for the pallet so you can turn a profit even if you can’t resell everything on the pallet.
2. Alternative Investments
One option in alternative investing is buying an investment property to either rent or renovate and resell, but property investing is an intensive business to run. Another option is to invest in property investors. Not everyone interested in buying investment properties has the money needed to get started or the ability to get the money through traditional bank loans. You can join with other investors to front the cash as short-term investments. These investments usually go 12 to 24 months, and the interest rate varies based on standard rates at the time of the investment. Yieldstreet is an excellent option if you are interested in alternative investing. You can check out a Yieldstreet review first to see how others have benefited from working with them.
3. Vacation Rentals
Owning a vacation rental is a perfect way to live your best life while making a substantial side income. When you buy a vacation rental, you can rent it out to others as often as you want. However, you can also block out the weekends you want to use it, so you still have a vacation home. Depending on the size of the house and where it’s located, you can get several hundred or even over a thousand dollars a night renting it out. The money you collect from rental fees can more than pay for the house itself, as well as the cost of cleaning and vacation property management. The great thing about using a management company is then you don’t have to do anything except collect payments and enjoy your vacations.
4. Freelance Work
There’s a wide range of freelance jobs you can do online. From writing and editing to graphic design and photography, you can pick up short- or long-term jobs that you can work around your schedule. Websites like Fiverr have made a business of allowing people to post jobs they need to be done by freelancers and freelancers to offer their services online. It is a freelance marketplace.
One industry that has grown dramatically over the past year is the errand-running business. From Doordash and Grubhub to Instacart, people are paying others to deliver their food, do their grocery shopping, and run their errands for them. If you have reliable transportation and don’t mind going in and out of public places, you can work as many hours as you want running errands for other people. Working through an errand company means you don’t have to worry about setting up payments or getting reimbursed for any money you spend on the errands.