Sometimes, no matter how hard you work, there’s not enough money left over to do the things you’d like to. Whether you need a new sofa, cash for birthday gifts or a bit of spare dough for a personal treat, it isn’t always easy to find the funds. Plus, if you’re already working at one job, starting a second job could lead to stress and burnout.
Working long hours can quickly lead to chronic fatigue. Fatigue may lead to sickness. Sickness will, eventually, keep you away from your desk altogether. It’s important to prioritize your health and look for clever, low-maintenance ways to make extra cash.
Here are some easy ways to earn a second income and create some extra breathing room for your finances.
1. Investigate Your Inheritance Rights.
These days, it’s surprisingly common for people to own a valuable estate and yet continue to struggle for money. Contrary to popular belief, most inherited estates aren’t handed over immediately. It can take up to three years before heirs are legally permitted to access any of the money tied up in one.
That is unless an estate loan can be arranged. In some cases – and it’s worth investigating if you’re currently waiting for probate – a modest lump sum can be borrowed against the value of the estate. While it does have to be paid back eventually, it’s hardly a problem if you can borrow the cash until the rest of your estate is made available. It’s like borrowing from yourself.
2. Pick the Right Credit Card Rewards.
If you’re already in debt, taking out a credit card is probably ill advised. However, if all you need is a cash injection and you’ve got good money management skills, credit cards are an easy way to get fun freebies.
The trick is to pick one which offers rewards that suit your lifestyle. For instance, frequent flyers benefit from credit cards that are partnered with air mile schemes.
Every time a customer buys with credit, they get points to be turned into free airfare. You’ve got to be confident you’ll benefit from it. There’s no point signing up for rewards you suspect you won’t use. Also, make sure you can pay off your balance in full every month or you’ll incur heavy fees. Look for a card with a lower interest rate.
3. Put It on Your Loyalty Card.
This is an easy way to save cash but it tends to get overlooked. If you have a loyalty or rewards card – and there are thousands of different options out there – take every opportunity to make associated purchases. Make purchases on behalf of others.
For instance, say you’re planning to take a holiday with a friend. Or, you may be going out for lunch with family members. You have a rewards card for that restaurant. You’re eligible to earn points every time you spend with that particular travel provider. The more you spend, the more freebies you can earn. So, get everybody involved to pay you instead of the provider.
Then, you pay the whole bill with your customer account and earn a much bigger rewards haul. It’s actually rather clever when you think about it.
4. Join a Freelance Focus Group.
Almost every type of product – movies, handbags, candies, perfumes, etc. – gets presented to a focus group before being sent out into the world. It is an important part of product design and marketing. What you might not know is some modern focus groups now use online or telephone interviews. If you’re quite chatty and like to share your opinions, there are ample opportunities to sign up for work with ‘freelance’ focus groups.
Marketing companies like Inspired Opinions (which has offices all around the world) pay people to conduct telephone interviews on a variety of products. You’re expected to share your honest opinions. That’s it. Plus, most send payment immediately via PayPal or a similar platform. It’s a very easy way to earn extra cash. With some companies, there are opportunities to partake in person and earn larger sums of money.
5. Invest On a Small, Steady Scale.
If you really want to minimize the work involved in earning extra cash, you could download a change saving app for your mobile. There are a few different varieties available. The most popular examples automatically collect your ‘change’ and deposit it into a special savings account or they invest it in stock portfolios.
The change is created when you make purchases with a linked debit or credit card. Say you buy a coffee every morning on your way to work. It costs $2.40. With a change saving app, the cost gets rounded up to $3.00 and this extra change is collected or invested. Bank of America’s Keep the Change app is a great choice. You may also want to check out a mobile app called Acorn which redirects this change to an index fund. You’ll be surprised how fast those little bits of change can turn into a steady stream of spare dollars.
Some More Easy Ways to Make Extra Cash
These are just a handful of ways to earn extra cash without racking up more hours at work. Your only limit is your imagination. People routinely supplement their primary incomes by up-cycling and selling old furniture, selling arts and crafts on websites like Etsy, signing up for paid house sitting jobs and even using mobile apps that give out cash rewards for going to the gym.
You can also become an online copywriter, a digital editor, or a proofreader. These roles have the potential to net you serious cash without requiring you to leave your home or sofa, in some cases. When it comes to making money fast, it’s all about knowing your options. Take the time to find money making opportunities that fit your lifestyle.
The secret to earning fast and avoiding burnout is simple. You’ve just got to prioritize the things you enjoy or can get personal gratification from. Making money can be simple and fun if you combine it with something you feel passionate about.