4 tips for making extra cash

LIVING AND WORKING MY PASSION

Does your bank account need a boost? Find some extra income in a way that works for you.

There’s plenty you can do with extra cash. Maybe you’ve had a change in your job or personal life or need to pay for something that came out of the blue. Whatever the reason, additional income never hurts. Here are four tips for making some extra money.

1. Turn your hobby into extra income

If you’re good at something, why do it for free? Getting paid to do something you enjoy has a lot of upsides. Check out these ideas to inspire a side hustle you care about:

  • Sell your handmade goods. Whether you’re a whiz at woodworking, knitting, painting, or crafting, you could earn cash for your wares on sites like Etsy.
  • Walk or board pets. Love animals? Use apps like Rover or Wag!, and you can get paid for dog walking, cat sitting, or even just dropping in to check on pets whose owners need a hand.
  • Do freelance work. Pursue your passion for software development, writing, or another professional interest by listing your services on Fiverr. There, paying clients look for help with everything from building websites to editing resumes.
  • Take on a new project. If you have a knack for home repairs or love the smell of freshly cut grass, you can find quick jobs—including furniture assembly and yard work—listed on platforms like TaskRabbit.

2. Find side gigs you can do from home

Side hustles are a great way to make extra cash, especially if you enjoy working from home—but getting started on a long-term passion project may take you some time. Here are a few ways you can generate income in the short term without having to leave the house:

  • Teach online courses. Sharing your knowledge—whether it’s teaching English as a second language or walking through high school algebra problems—can be a rewarding experience. Online platforms including Cambly, TutorOcean, and Preply help you find work tutoring students and lifelong learners.
  • Take paid online surveys. Filling out surveys on sites including Swagbucks and LifePoints can pay out in cash or gift cards. You can also participate in paid focus groups through platforms like Survey Junkie.
  • Rent out that extra room—or your car. If you have a spare bedroom you’re not using and feel safe doing so, consider renting out the space on Airbnb or Vrbo. You can also rent out your car when you’re not using it with platforms like Turo.

3. Drive for cash

If you have a car and a driver’s license, you have access to opportunities for making some extra money. Here are a few ways you can make cash with your car:

  • Drive for ride-sharing companies. Lyft, Uber, and others offer flexible scheduling, extra pay during peak hours, and insurance protection while you’re on the road. Drivers also collect tips.
  • Deliver food. Companies including GrubhubDoorDash, and Uber Eats pay you to deliver food to people.
  • Drop off groceries. Companies like Instacart and Shipt pay drivers to deliver groceries and other goods on behalf of retailers.

4. Get rid of stuff you don’t need

You don’t have to be Marie Kondo to recognize many of us own things that no longer bring us joy. Part ways with that old stuff for a profit.

  • Trade in old phones, computers, and other electronics. Amazon’s trade-in program offers gift cards for many used electronics, including tablets and e-readers. You should also check online marketplaces like Swappa and Gazelle that can connect you to buyers who pay cash for phones, video games, computers, and more. Plus, trading in these items helps protect the environment by keeping old electronics out of the landfill.
  • Sell gently used clothes. Clear out your closet on Poshmark, Depop, Grailed, or other online marketplaces for used clothes and vintage fashions. You can also look up second-hand stores in your area to get cash or store credit for your clothes.
  • Host an online garage sale. E-commerce platforms including eBay remain proof that your old lunchbox could be another person’s treasure. You can also sell items you’re no longer using, from furniture to power tools, on sites like Nextdoor or Facebook Marketplace.

Protect yourself: Research every opportunity

If you find yourself looking for ways to make more money to address an urgent need, be wary of anything that sounds too good to be true—because it probably is. Scammers often target people in their most vulnerable moments. You should thoroughly vet and research every opportunity, including reading and understanding the fine print of what the offer is really about and how you can participate before jumping in.

Avoid unsolicited money-making opportunities that ask for your Social Security number or financial information. Vet companies by looking for their Better Business Bureau profile, if they have one. Research online certifications and starter kits before paying for them. Do an online search for the names of any companies or individuals you work with to see if they have any past reports of scams or fraudulent activity.

By keeping an eye out for potential scams, you can avoid setbacks and continue to boost your earning power.

For more help getting on the path toward better money habits, check out this collection of stories.

Truist is not affiliated with, responsible for, or endorsing any of the third-party providers linked to in this article. Before engaging with or otherwise participating in such third-party providers’ services, you should research and vet the opportunity, including but not limited to, thoroughly reviewing and understanding all terms and conditions placed by such third-party providers to understand the risk and rewards before participating.

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