Four Ways To Make Extra Money
- Author Steve Gillman
- Published April 4, 2010
- Word count 647
There are a thousand ways to make extra money. Of course you may not have the knowledge, training or experience to succeed with some of them. Or you may not have enough money to take advantage of some opportunities. That's why the following methods are all about using what you already have.
Use Your Knowledge of Values
All of us have some idea of what some things should cost, but we are all most familiar with prices in one area or another. Identify those areas where you are best at determining the value of things. This is where the profit opportunity is.
For example, a neighbor of mine could say what a car would sell for within a few hundred dollars. So when he saw a used car for sale and knew it would bring $3,000 after a bit of cleaning, he would offer $1,500 for it. If the answer was no, he quickly moved on until he found a seller ready to get rid of a vehicle cheap. Then he spent an hour or two cleaning up the car and selling it for decent profit.
The principle is what matters here. You Don’t need to know about cars. Ask yourself what can you put a price on and find a buyer for, and you have a potential source of extra money. One man I knew regularly bought used restaurant equipment for half of what it could be sold for. Engagement rings, dogs, and other things are "turned" for a profit in this way as well.
If you have no cash to invest, you can use credit card advances to do this. If you can make $1000 buying and reselling a coin collection, does $100 in fees and interest matter? Or you can find a partner to finance the deals at first. I have a friend who knows pickup trucks but rarely has cash saved. If he finds a truck for $2,000 that will sell for $4,500, he comes to me. I put up the money for half of the profit and we both do well.
Rent Rooms in Your Home
When I was younger I had a mobile home on a small lot. I paid off the mortgage, so my expenses were low, but I wanted to make some extra money as well, so I rented the spare bedrooms. The two rooms provided over $7,000 extra income annually, and I had decent renters. Having another person in the house adds little to the utilities, so the rent collected is almost all profit.
Make More Money In Your Business
If you have a business, why not mine your customer list for treasure. For example, if you run a window-cleaning business, you can call all previous customers in a certain area and offer a discount if they would like their windows cleaned the following week. Keeping it to one area makes it efficient so you can still make a decent profit while offering a lower price.
If you have a mailing list of your customers you can offer to present them with an offer from a non-competing business, for a fee or commission. Even customers that you have lost can be a profit source. Just introduce them to a competitor who can better serve their needs, again for a fee.
Sell Affiliate Products
When people visit my backpacking web site they sometimes click on the links I have put there and buy a tent or a sleeping bag. When that happens I get paid commission of about 7%. I just write about a subject that interests me, people come to read my pages, and they sometimes buy products that I link to. It is an example of basic affiliate marketing. Commissions range as high as 75% on some products, by the way, and you can start with a free blog on any topic of interest to you, and so make extra money without investing a dime.
Copyright Steve Gillman. Learn more ways to Make Extra Money, and get the free Unusual Ways (To Make And Save Money) Newsletter, plus e-courses and ebooks, at: http://www.UnusualWaysToMakeMoney.com
Article source: https://articlebiz.comRate article
Article comments
There are no posted comments.
Related articles
- 3 Great Passive Income Ideas for New Moms and Dads in 2024
- Avrex IO Redefines Real Estate Investment with Innovative Tokenized Ownership Approach
- Panama City's Real Estate Market: Top Neighborhoods for Investment
- Investing in a Condo or Villa in Pattaya, Thailand
- Tabania Group Rings in the New Year with a Powerhouse of Financial Services, Unveiling a Comprehensive Suite for the Digital Age
- To What Extent Has Economic Growth Improved Quality of Life?
- How to Manifest Wealth in Your Life
- Unlocking the Potential: Making Money Online with Your Phone”
- Blue economy of the world
- This Financial “FORMula” Will Help You Plan Around What Matters Most
- Losing a Parent: A Checklist and Timeline of the Financial Aspects to Address
- How to Avoid Lifestyle Creep: Try this 50/50 Rule for Saving & Spending
- (Money) Date Night: Why You Need One and 5 Topics to Discuss
- Private Placement Life Insurance (PPLI) in Offshore Trust More Useful Than Ever
- Indexed Insurance Policies Hedge against Inflation
- Should You Invest Abroad? A Complete Guide to Buying Investment Properties in Thailand
- What Are Your Retirement Planning Options?
- Daily Income Opportunity With U-Farm
- Building a Comfortable Retirement: Tips and Strategies for Investing in Your Future.
- Revocable Living Dynasty Trust (RLDT)
- Key Retirement & Estate Planning Tools
- Captive Insurance -- Details
- INDEXED UNIVERSAL LIFE INSURANCE (IUL) ADAPTS TO INFLATION AND HIGH INTEREST RATES
- GRANTOR ACCESS TO IRREVOCABLE TRUSTS -- EASE THE STRESS OF COMPLETED GIFTS
- CASH BALANCE PLUS PLAN
- Tax-Free Income Making More Sense in Global Financial Crisis
- Dynasty Trusts Guard Personal Autonomy in Hierarchic Society
- Captive Insurance Company, CIC -- Reduce Taxes and Build Wealth
- What is an RESP?
- Private Placement Life Insurance, PPLI