6 Tips to Make Extra Money and How Much You Can Make
According to Bankrate, a recent survey found that one in five Americans has an additional source of income – or side hustle, if you will – that brings in an additional $500 per month or more. Whether you’re a student, a teacher or anyone looking to start earning a little extra money on the side this summer, here are a few suggestions to get started:
1. Become an Online Tutor
Virtually everyone has skills and knowledge that someone else is willing to pay for. And if you are a native English speaker with access to high speed internet and video conferencing capabilities like Skype or FaceTime, there is a growing market for online tutors willing to chat and help students in countries like China improve their English language skills.
There is also a demand for tutors across subject areas, so if you’re an ace at calculus or an accomplished knitter, there are people out there who are willing to pay for your instruction.
There are many platforms that do most of the leg work for you in terms of finding clients and arranging the logistics. Rates can vary considerably depending on the subject area and your skill level, but can start from $15/hour and up depending on the platform:
You can also find potential clients in your own community by placing an ad or checking listings on Craigslist.
2. Become a Virtual Assistant – No Coffee Runs Necessary
If you have decent computer skills and are comfortable communicating and working remotely, a virtual assistant gig may be perfect for you. Platforms like Upwork have a broad range of clients looking for people to fill particular projects, but the rates vary and can be on the low side depending on the scope and duration of the project.
If you have administrative experience, try VirtualAssistants.com. They have a searchable database and opportunities that range from seasonal to full time. Rates can average $18/hour and up depending on the position.
3. Landscaping
If you prefer to be outside and have a green thumb or know your way around a mower, offering busy homeowners your services can yield $15/hour and up in your free time.
4. Drive for Uber or Lyft
The sharing economy is here to stay, and driving for Uber and Lyft has become one of the most common ways to earn extra income. Earnings will depend on factors like where you live and how often you drive, and you will have to factor in operational costs like gas and wear and tear on your car. If you live in a busy metropolitan area, you may be able to make anywhere from $10-$20/hour.
5. Run Errands
Sites like TaskRabbit and PostMates let you make money running errands for busy people in your spare time, which can range from making deliveries and picking up dry cleaning, to building a desk. Pay varies per task.
6. Part Time/Seasonal Work
Many local businesses offer opportunities specifically for students or people looking for flexible part time work. Look for local temp agencies or businesses in your area hiring for seasonal help. Hourly wages vary depending on the job and region, but can average in the $10-$12/hour range and up.
For more ideas, start by making a list of your skills and interests, and do a little research to see how what you already have and already know can help you meet your financial goals.
