Guest post by David Bakke. David is a small business owner, Internet reseller, and writer for the popular personal finance blog, Money Crashers
If you haven’t yet considered renting out your car through a peer-to-peer car sharing marketplace like RelayRides as a means to generate more cash, you may be missing out on a great opportunity–one man recently made more than $12,000 by doing so in just a year and a half. While you’re mulling that idea over, understand that there are also many other ways to tap into your earnings potential. Consider these following six simple ways to put a little more money in your pocket.
1. Sell Your Stuff Online
Just about everyone has old electronic devices that are simply wasting away in closets and drawers. Don’t miss out on this opportunity to get some of your original investment back by selling them online. Consider selling on eBay – and you’ll be shocked at what people will pay you money for. Just be sure to list your items accurately, price them to sell, and ship them securely.
2. Complete Internet Surveys
You won’t make a fortune by completing online surveys, but if you can make $5 an hour for your online time instead of just playing on Facebook, isnít this a good opportunity? Check out Lightspeed Research or Pinecone Research. Just be sure to answer the questions accurately, as these sites will cancel your account if they find out that you’re thoughtlessly breezing through the surveys.
3. Participate in Focus Groups
You must answer a series of questionnaires in order to qualify for focus groups, but if you are selected, the payouts can be tremendous–up to $150 for two hours of your time. Sign up at the websites Delve and Focus Pointe Global.
4. Donate What You Can’t Sell
If you have large items to get rid of, such as home furniture or analog TVs, donate them to receive a tax deduction for charitable contributions. You won’t generate cash, but you will ultimately save money. Just be sure to donate to an IRS-approved organization. Some locations of both The Salvation Army and Goodwill will even pick up your items.
5. Put Your Smartphone to Good Use
Do you own a smartphone? You can easily turn it into a money-making device. Download the iPinion and EasyShift apps to make money by performing simple tasks with your mobile device.
6. Use TaskRabbit
As long as you live in one of TaskRabbit’s select larger cities, you can apply to do a number of paid tasks. If your application is approved, you can bid on a list of tasks or projects in your neighborhood, including grocery shopping, house cleaning, home repair jobs, and other general errands. You must live in Boston, San Antonio, San Francisco, Los Angeles, Austin, Seattle, Chicago, Portland, or New York to participate.
In order to get the most out of your new money-making efforts, you need to keep track of these funds, and direct the money to where it can do the most good. Depending upon your situation, you may wish to sock your money away in a retirement fund or college fund, or even pay off credit card debts. The choice is up to you – just don’t spend it all on unnecessary personal purchases. That would simply negate all of your earnings.