Does it seem like you cannot get ahead regardless of how hard you work? If you are stressed by high debt balances, a meager savings account balance or other financial concerns, rest assured that you are in good company. In fact, financial concerns are so common that it may seem as though money-making opportunities are available at every turn. Many of these are bogus offers that do not live up to expectations, and some of them are outright scams that take your money and leave you in a worse position. The good news is that there are legitimate money-making strategies that actually will work for.
Get a Side Job
If you have more time than money, getting a side job is an excellent idea. Some ideas include being a rideshare driver, babysitting, mowing lawns, pet sitting and walking dogs. Several apps and online services make it easier than ever to get started with these and other side gigs. You could also get a more traditional second job, such as by waiting tables. When you bring home extra money, pay attention to the impact on your taxes. For some people, the income from a second job will bump them into a higher tax bracket. Because of this, you may need to increase tax withholdings from one or both jobs in order to avoid owning a pretty penny to the IRS at the end of the year.
Invest in Silver
Most people have heard incredible stories about others becoming millionaires overnight through smart stock picks, cryptocurrencies or other types of investments. Other people have struggled to generate even a modest profit from these and other types of investments. If you fall into the latter group of investors, you may be turned off by investing. However, your extra funds will not grow if you simply keep them in your savings account. With this in mind, you need to identify relatively safe investments. Silver has historically been an excellent commodity to select for a long-term hold. Why is silver rising? Consider that many savvy investors move their funds into precious metals and other stable commodities when the stock market shows signs of turmoil. In addition, there is a finite amount of this commodity available as well as a growing demand. This places upward pressure on silver’s value. You can invest in silver through market trades or even by purchasing silver coins or bars.
Sell Your Stuff
When you look in your cabinets, closets, drawers and other storage areas, you may see many items of value that you have little or no use for now. Some people hang unto items for an unnecessarily long period of time because of the possibility of needing them in the future. Generally, if you have not used an item for more than a year and if you do not have specific plans to use it soon, you should consider getting rid of it. By cleaning house periodically and purging your home of unwanted items soon rather than later, you may sell your items for more money. Many items will lose value and appeal if they sit in your home’s storage areas for too long. Sell your items online, through consignment or by holding a yard sale. Many retailers also have buyback programs for electronics and other items.
Use Credit Card Benefits
If you regularly use a credit card that does not have rewards benefits, it may be time to transition to a new account. Many credit cards offer cash-back rewards, a points-based reward system and other financial benefits. When credit cards are used responsibly and account balances are paid in full each month, these programs can essentially give you free money or gifts. However, if you carry a balance, the interest charges and fees may eat into the financial benefit associated with using your credit card.
Refer Friends and Family
Many companies offer incentives to their customers who refer friends and family members to them. For example, this is common with phone service providers and fitness centers. You may receive a one-time cash-back bonus or another perk. Some major employers offer financial incentives to employees who encourage their friends or family members to apply for a job. Even companies that you may rarely contact, such as your HVAC equipment repair company, may provide a small discount or a rebate in exchange for a referral. You may also use your social media accounts to qualify for incentives. For example, you may receive a discount on your bill at some restaurants if you check in at the business’s location.
These are only some of the many money-making opportunities available to you today. If you are not actively taking advantage of these and other opportunities, you may be leaving money on the table and missing out on the chance to improve your financial situation. Consider combining multiple strategies for the best overall results.