When it comes to money, we’ve all felt the financial pinch at one time or another.
It could be a case of struggling after the Christmas season each year, or maybe a considerable, unexpected cost such as broken washing machine or failed car parts have caught you off guard. It could be a dental or medical expense- something as simple as a broken tooth can end up costing you thousands. There’s no denying that having access to a little extra money can make life much easier- and thankfully there are legitimate ways you can do this.
These days, the accessibility of the internet has meant that earning some spare pocket money or even working from home full time is now possible for the average person. Plus, there are ways you can spend the money you do have more wisely, freeing up some extra cash. Here are a few ideas for making life easier when you’re going through a financial rough patch.
Make an investment
If you have some savings in the bank, why not make your money work harder for you? Making smart investments can turn a little money into a lot and mean you have more money going forward. Property is a great, low-risk option. When you have a chunk of your cash tied up in property, it means it’s not easy to spend and waste, but you can access it if you need to be selling. But until then, renting it out will generate you extra income each month. Houses are always in demand, and as they appreciate in value each year you’ll get a far better return compared with letting it sit in the bank. Even a high-interest bank account won’t earn you as much. You could also invest in an up and coming business, or try peer to peer lending.
Set up an online business
Setting up an online business can be more simple than you might think. Thanks to online marketplaces like eBay, Etsy and Amazon, anyone can set up their own little shop and start selling right away. If you have a skill or talent such as being able to make beautiful crafts or digital items you could sell these. If you don’t you could still make a good profit simply from buying from wholesalers and reselling. Lots of companies source products cheaply from China. Leeline Sourcing is one example and has a website showing the kinds of products you can buy to sell on, you can visit it here. When you sell on an online marketplace you don’t have to worry about expensive website design and running costs or even having to spend lots on marketing, as customers can find you easily from searching.
Sell unwanted items
Most of us have hundreds or even thousands of unwanted items in our homes. From antiques to jewellery, old technology and even things that you might consider junk, like old CDs, DVDs, computer game disks and clothes. These can all raise you some extra money, lots of companies online buy these kinds of things or you could sell locally. Best of all, there are no upfront costs to get started as you already own the items and you don’t need a great idea or a special skill to raise the cash. It gives you a chance to declutter your home, and unused and unwanted items can get a new lease on life from someone that actually want them.
Work as a freelancer
Freelance work is a good choice for those wanting to boost their budget around another job, as it gives you flexibility. Start off by signing up to a freelancing website and doing a short test to get accepted. From there, you can then choose the projects you want to do, and while each piece will have a deadline, it’s up to you how many you take on. You don’t have a minimum or maximum amount that you have to do, meaning you have full control of your workflow.
Write a blog
Admittedly it does take some time to get a blog established, so this isn’t the kind of thing you can start and earn money from right away. However it’s a great hobby to start off with, and in time companies will contact you for sponsorship opportunities if your blog is what they’re looking for. Work on producing great content and make sure it looks professional. You can find cheap or even free responsive templates online which are simple enough to install yourself.