Some say finding success in personal finance is all about getting the math right. Don’t spend more than you make and you'll be on your way, right?
But sometimes, even after tightening your expenses, the plan to build savings or reduce debt just isn’t coming along as quickly as hoped. If your income needs a little leverage, try looking into some of these opportunities to earn extra money through online resources.
Side hustle No. 1: Sell it off
It sounds like a lot of work, but sometimes, selling some gently used items is a great way to earn a little extra cash.
Get up and go through the spaces that have been collecting clutter — closets, drawers, garage, shed, bookshelves, DVD collection — and make the tough calls. Do you really use that food dehydrator? Can you get by with two leather jackets instead of four? And let’s face it, it’s been a decade since you watched that epic trilogy on DVD.
Then, photograph, upload and sell.
After a few weekends of sorting and uploading, you could rake in enough to make a good dent in a debt you’re working off. Plus your closets will be clean and well-organized.
Side hustle No. 2: Share your knowledge
Teach and you shall earn. One popular way to do this is teach English lessons via online video to people in other countries. After a successful application process, you can hop online and help your students, young and old, get practice.
If teaching English isn’t your forte, you can share your expertise in other ways and get paid.
If you’re more of a math whiz, find out if you qualify to be an online math tutor.
Or, if you have deep knowledge in some other area, whether it’s related to your career or your hobby, try writing a series of eBooks and sell them through a self-publishing network.
Or create an online course that people pay money to access, or even an audio book. If your subject happens to be one that’s in demand, you may even have a nice little stream of cash coming in.
Side hustle No. 3: Be someone’s helper
With a little effort, there are ways to set up a nice little part-time desk job. Search your favorite job-hunting platform; some companies are hiring work-from-home customer service reps and other roles. Or you can take a free online course to set up an online bookkeeping business, or assist entrepreneurs with tasks like data entry or social media management through a site that matches people with their skill sets.
Side hustle No. 4: Rent it out
We’re all familiar with the idea of renting out a room in your house, which is great if you have the space and you live somewhere that gets lots of visitors. But maybe in your neck of the woods, renting out your recreational toy, such as your RV, boat, jet-ski or snowmobile, is a more lucrative opportunity, especially if you live near a lake or popular recreational site. See if your item meets the requirements, then download the app and start earning that extra cash.
Once you start earning that additional income, Minnwest Bank is there to help you build your emergency fund. With our competitive savings rate and easy-to-use online account management tools, you’ll find much to love.