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There are a million reasons why you could use an extra $500 a month. Maybe you are feeling a little strapped for cash, or want to pay off a bill that has been nagging at you. Maybe you are trying to save up for a wedding, or a vacation. Maybe the holidays are right around the corner and your kids are on you for the latest & greatest tech device. Or maybe you just want a killer boost to your wardrobe. Whatever the case may be, these 10 awesome ideas will help you meet your goal of earning an additional $500 – or more – a month!
This isn’t your usual tutoring position where you meet at a student’s home or school. Nope, this is tutoring for the 21st century and it is all online, from the comfort of your own home! If you have a minimum of a bachelor’s degree the only other things you need are a laptop with a camera, a headset and a stable internet connection to become a VIP Kids tutor.
How much can you earn being a VIP Kids tutor?
It depends on how much you work, of course, but the hourly wage is $14-$22 an hour. Work 5-6 hours a week at $22/hour and you’ll earn over $500!
Investments from Pocket Change
If you are a terrible saver, Acorns might be exactly what you need. Download this money saving app and see what Acorns can do for your budget. How it works is simple- so simple you won’t even realize you’re saving money! (Take it from me, I set up an account and totally forgot about it for a few months. I actually logged in to delete it because I had no idea what it was. <duh moment> Needless to say, I was pretty floored when I found just over $600 in my account!) Acorns takes your “change” from each purchase you make with a linked debit or credit card and invests it for you. The fee is $1/month if your balance remains under $5000. (See Acorns for details.) So, let’s say you spend $4.79 at a certain coffee shop, Acorns takes the change (.21c) and invests it. All of the investing work is done for you- no need to learn how to become an investor in your free time.
You can play with the settings to use the actual amount of the change, or set it to double, triple or invest 10x the amount of your change. You can change the settings at any time, make a one-time investment, or set up a recurring investment. By choosing investments that are low-risk to high-risk you can earn more, or less, on your investment. It’s pretty great! I’ve cashed out a couple times. Once being last Christmas to use towards gifts. Currently, I am saving my change to pay for a cruise. I’m about $200 away from booking! My hubby is going to be SO SUPRISED when I tell him to extend his vacation time when we go to Florida in March. <yay!!!>
Check Acorns out and get a free $5 when you sign up!
How much can you earn investing with Acorns?
Varies based on your investment aggressiveness, the market and the multiplier of your roundup.
Rent Out Your Car
Sound crazy? It’s really not. If you use public transportation, carpool, walk/bike to work, or work from home, your car could be making money for you! Turo is basically AirBNB for your car. As long as your car is registered to any state (except NY, sorry New Yorkers) in the US and is fewer than 12 years old, in good shape, runs properly, and meets a few other basic requirements, you can list your car for rent on Turo. You set the dates and times your car is available, you set the price, you determine how many miles are included- it’s all up to you.
We’ve used Turo a few times. Most notably when I took my daughter to MA & NY to look at colleges and wanted a car with AWD just in case it snowed. To rent an AWD vehicle through typical car rental companies costs a fortune. For around $40/day we were able to rent a really nice Infinity sedan with AWD. And guess what? It snowed and I was so happy not to be driving in an unfamiliar area in a car that was sliding all over the place.
How much can you earn renting out your car with Turo?
It depends on your car. Turo keeps about 25% of the listing price. So, if you list your car for $40, get to keep $30 of that and rent it for 16 days a month you’re at just over $500. If your car is a luxury vehicle, offers AWD in a snowy location, is a minivan or SUV that seats 7-8 people, etc. you can command a higher price. If your car is a 12-year-old base model, not so much.
Rent Out Your Space
If you have a spare room, a lake house or another property that is empty fairly often, you could be making great money as an AirBNB host. You may think you have to have a super nice house on a lake, or a killer loft in a great city to appeal to anyone, but that is not the case. My husband rented a basement apartment in the suburb he works in for months before we had an apartment. That was a nice $500/month for his host and a huge savings over the cost of a hotel for us!
AirBNB charges hosts 3% of the booking total, which is not bad at all. (The guest fee is higher and where they make most of their money.) AirBNB also offers a $1,000,000 insurance policy to cover any accidents, too, so there is basically no risk. You can choose your guests (within reason, based on reviews from their previous hosts) and set your dates. Let’s say you have a 2 bedroom apartment in Chicago- you can rent one room out to tourists OR you can camp out at a friend’s house for the weekend and rent your whole unit out for a weekend.
Think outside the box: are you near a college football or basketball stadium? Are you near a concert venue? Are you within 10 miles of the Indianapolis or Daytona 500? Or the Super Bowl? HUGE events have the potential to make you TONS of money. Do you have a quirky space you could rent out, like a vintage camper or a tree house or a backyard tent? The possibilities are endless.
Look through AirBNB listings for your area to see what is available, how your space compares, and what current rates are. You do not need to have a fancy house! (Trust me, we stayed in a *dump* earlier this year due to lack of availability and a very last minute trip! Clean a little, let potential guests know it’s not a luxury condo and you’ll be fine.) Be a good host and stock your space with toiletries, a couple late night snacks and some bottled water and you’ll be golden.
How much can you make from AirBNB?
It depends on your space, your availability and the demand for your area. If you can get $50 a night you can earn over $500 in 11 days! I cannot wait until our cottage reno is complete so I can rent this place out!
Sell Your Clothing
If you have stuff in your closet, and you know you do, that you no longer wear or no longer fits, why are you keeping it? Put that stuff to work making you money by selling it on ThredUp. You can sell clothing, jewelry, accessories, purses, shoes- if you can wear it, you can sell it, so SELL IT!
If you are a pro thrift shopper, you are in luck. Those old men’s Levi’s you found for $3.00 can go for as much as $50-$80 on ThredUp. Girls like high-waisted cut off Levi’s. I don’t know why, but I know my daughter sold a pair she found for $2 at a garage sale for a pretty penny! Look through ThredUp to see what’s selling and in demand and see what you can do.
How much can you make from ThredUp?
It totally depends on how long it’s been since you dumped your closet and how good your stuff is. If you have items with tags (or can find items with tags at thrift stores) you can earn quite a lot.
Play with Puppies
If you love dogs, Rover is for you. You can set your hours, your fee and the types of dogs you will accept as boarders. If dog watching seems like it’s too much, you can walk dogs, or offer doggy daycare or house sitting, too. Get paid to exercise and hang out with a cute dog? So fun! I just started watching dogs this summer. So far we’ve had a lazy pit bull, a gorgeous huskie and his equally gorgeous Austrailian Shepard brother, and the biggest Doberman I’ve ever seen. It has been a RIOT! My dogs and husband are not impressed, but I think it’s fun.
My rate is $25/night and Rover keeps 20%. Summer has been busy- I’ve turned down a number of dogs due to conflicts with our schedule. I prefer watching 2 dogs at once because it’s not really more work but it’s twice the pay. My daughter walks dogs 7 times a week in Chicago and loves it. It works great with her class schedule and lets her be at home more with her neurotic pibble.
How much can you earn from Rover?
Again, it depends on your rates, your availability and the demand in your area. I live in the middle of nowhere, so I’m the only option for miles and miles. That said, this is not a vacation destination, so the pool is small. My daughter is in a major city with lots of dog sitters and does great, so it just depends. You can charge more for puppies, too, so it just depends. If you can watch 2 dogs every weekend and you can command $40/night (to board a dog at a facility in Chicago is at least $50/night, so $40 is feasible) you could earn $500+ in 8 days. Not bad at all!
Ideas for Making Extra Money on Facebook Groups
Local Facebook groups are a great source for people who need immediate help with odd jobs. Search your town’s name in Facebook’s search bar and see what local groups are available. Groups for “Life in _<your town>_” or “Moms and Dads of _<your town>_” are terrific resources for babysitting, yard work, housework, decluttering, snow shoveling, pet sitting, poop scooping and so much more. My daughter had a very lucrative babysitting career in high school thanks to the moms & dads page in our town, and she continues to babysit and tutor thanks to her university’s Facebook group for parents in her neighborhood. I’ve used Facebook to hire people for pet sitting, yard work and snow removal quite a few times! Did you know babysitters are making $10-$20 an hour these days? If you are an adult with a car, good driving record, and references you’ll be in demand with busy parents who need help getting their kids to after-school activities and lessons.
Sell Your Photos
Chances are your phone and computer are full of hundreds of photos that could be earning you money! Spend a little time editing your best photos and uploading them to some photo sites:
Think of the types of photos used in design and marketing and focus on taking photos that meet the needs of advertisers. Flat lay photos are in high demand these days. Learn how to take beautiful flat lay photos with this Pic Monkey tutorial.
Social Media Marketing
If you live in an area that has small businesses, and chances are you do, see how their social media presence stacks up. I know in my area, it doesn’t- and therefore there is an opportunity for finding side work. If you know your way around Facebook (which is surprisingly well-utilized in small towns,) Instagram, Twitter and Pinterest you may be surprised by how many small businesses could use assistance growing their customer base.
How much can you make by helping small businesses grow?
By charging a fee to set up the accounts, and then a monthly management fee, you can easily earn $500 a month with 5-10 clients to start.
Start an eCommerce Store
This probably won’t earn you $500 the first month, but if you pick a successful niche that is in demand right now, you can earn great money in no time. Check out this How to Start an eCommerce Store by Shopify for details. Shopify is the leading eCommerce site so they know their stuff!
So, which one will you choose to get started with? Do you have a side hustle that brings in $500 or more a month? We’d love to hear about it in the comments!
For more money-saving tips and ideas, check out our Frugal Living and Money Matters Pinterest boards. They are loaded with hundreds of money-making and creative budgeting ideas from other top bloggers.
And- one more thing- do you love podcasts? If so, be sure to check out The Side Hustle School podcast. It is brilliant! Every episode is loaded with side hustle ideas, tips and inspiration to either start a side hustle or take yours to the next level. Chris Guillebeau is the founder and he is amazing at what he does!
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