I have resolved to make this the year that I start digging myself out of debt and becoming a "frugal expert", or atleast frugally responsible. The place I, and most people, start is by creating a budget and determining where they can cut costs. This is a wonderful way to minimize spending, however, on a limited income there are only so many corners you can cut before your lifestyle starts resembling that of the Amish.
I have put together a simple list of ways that you can earn some extra cash, rather than finding more ways to cut the already slivered dollar.
Here are some great tips increasing your income:
Have a Garage Sale - Go through your closet, attic, garage, or grandma's house in search of items you no longer use or need. Long neglected or forgotten objects may become someone else's found treasure. These may include neglected electronics, forgotten board games, or outgrown childrens' clothes.
Make crafts - People go bananas for all kinds of homemade craft items. Even if you don't consider yourself "creative", you would be surprised at how many projects are actually very easy to reproduce and can wind up turning a descent buck. Use a theme, such as an upcoming holiday, for your crafts and watch them fly off the racks.
Bring items to Resale or Consignment Shops - If you don't have the time or space for a garage sale, consider gathering up unused, quality items and taking them to your local resale shop. Many such stores offer a fair return on your sales. After all, it isn't bringing in any money just sitting under the bed!
Donate Plasma - There are many blood banks that offer payment for donating your plasma up to twice a week. This is a great way to earn some extra cash and leave with a good conscience, knowing you are also saving a life! Make sure you eat a healthy snack before donating.
Offer to run erands - Offer to run erands for a neighbor or someone who is immobile. They will likely appreciate your help and may refer you to others needing the same service.
Offer house cleaning - This is a great one, because many people hate cleaning their own house. I actually did this one and although I can not stand to do daily chores at my own place, somehow knowing that I wouldn't have to watch someone else's house become dirty again, gave me a unique satisfaction. Also, you would be surprised at the prices most people are willing to pay for a good cleaning!
Invest - One of the easiest ways to earn a little (or a LOT) of extra cash is to invest some of what you already have. It doesn't take very much to begin and you would be amazed at how fast money grows when it is compounded! This is how the rich are able to get and stay rich. Watch and participate in the stock market. Mutual funds are good choice. Be sure to diversify.
Wednesday, January 9, 2008
How to earn extra cash
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