In the personal finance sphere, we often focus on how to save more money. Today we’ll focus on the other side of the equation. I’ll show you how to make more money fast.
If you’re like me, you could sometimes use a little bit of extra cash. Whether you’re looking to get out of debt, cover your expenses or invest to build up your nest egg as you work towards financial independence, extra money never hurts.
But how can you make extra money fast? In this post, I’ll go over a few different techniques that I have used and some that have been suggested to me by other financial independence writers. We’ll discuss how you can make extra cash fast, and start working towards your goals more effectively. Let’s get started!
How To Make $100 Fast In One Month
Wondering how to make money fast? Making $100 extra in one month is quite easy, and there are dozens of different ways to do this. Here are a few of my top picks.
1. Build a budget
Do you need to spend $500 on takeout each month? $200 on drinks at bars? $500 on clothing? Or do you not even know how much you spend on each of these categories?
Building a budget is the best thing you can do for your financial future. It lets you understand how much you’re spending, and gives you the guidance you can use to save more. By controlling your spending by setting a budget, you can easily make $100 in a month – or much more!
2. Cancel unnecessary monthly services
It’s never a bad idea to look through monthly services like subscription boxes, video streaming services, VPNs and other such services every once in a while. If you cancel even just a few subscriptions, you can easily make $100 fast in a month, and save more money.
3. Renegotiate bills or explore other providers
Bills like your car insurance, health insurance, cable bill, phone bill, and other such bills are not set in stone. Every year or two, it’s a good idea to renegotiate your bills. By threatening to leave a company, you may be able to get a lower rate.
You can also explore other providers for insurance, phone coverage and other bills. You may be able to find a much better deal!
4. Do online surveys
Wondering how to make fast cash online? Doing online surveys is a great way to make some quick cash. Depending on which service you use, you can easily earn a few bucks per survey. That adds up quickly. Do some online surveys during your downtime, and you can easily make $100 per month or more.
How To Make $1,000 Fast In One Month
Making $1,000 in a month is not as easy as making $100 in a month – for obvious reasons. But it’s still totally possible! Here are some suggestions and ideas.
1. Look for side gigs like yard work and day labor
Mowing lawns and doing yard work can easily get you $30 or more per hour if you pick your clients properly, and day labor like helping with landscaping can also be very rewarding. Take a look at local classified ads to look for extra work. If you work on weekends and after your full-time jobs, you can easily make an extra $1,000 in one month.
2. Sell items you don’t need on eBay
You would be shocked at what people buy on eBay. You can sell almost anything! Old electronics, clothes, shoes, souvenirs – the list could go on. Start going through your stuff to see what you don’t need anymore, and list it on eBay. The sales will start rolling in before you know it!
You can even expand this side hustle by going to flea markets, thrift stores, and discount stores. With a bit of research, you can buy items for low prices and resell them for much more on eBay. That’s pure profit!
3. Start driving for a rideshare company
If you’ve got a car and a driver’s license, you can sign up with a rideshare company like Uber or Lyft and start driving. You can easily earn more than $1,000 per month by doing this, particularly if you mostly drive at night during the weekends when demand for rideshares is the highest.
However, make sure you record your expenses like car depreciation, gas, insurance and other costs to ensure you are calculating your profits properly. This calculator from Ridester is a good way to see if ridesharing will be profitable for you.
4. Rent out a spare room on Airbnb
This depends on where you live, of course, and whether or not you own your own home or your landlord allows short-term rentals. But if you live in a hot tourist destination, you can easily make $1,000 per month or more by renting one of your rooms out on Airbnb. Just be aware of the risks of doing so, and make sure short-term Airbnb rentals are legal in your city!
How To Make $5,000 Fast In One Month
Making $5,000 in a month is not easy. But it can be done. And no, I’m not talking about joining some get-rich-quick scheme. Let’s look at a few ways you can do this.
1. Renegotiate your salary
If you’ve been in the same position for a while, it may be time to renegotiate your salary. 46% of people feel like they are underpaid. If you’re one of them, it’s time to ask for a raise. Do some research about how much people in your career field make, and the compensation you deserve based on your current role. Approach salary negotiations professionally – and if you get a raise, you may easily add $5,000 or more to your yearly salary.
2. Find a new job
If a raise is not an option, it’s time to look for a new job. Research has shown that switching jobs can increase your salary by $5,000-$10,000. Start looking for suitable positions and sending out resumes. Remember, the best time to look for a new job is when you already have a job!
3. Start freelancing
Wondering how to make money fast with freelancing? Okay, you’re unlikely to make $5,000 in your first month freelancing. But if you’re tired of the “rat race” and want to work for yourself, it may be a good option.
When freelancing, the sky’s the limit when it comes to earnings. Once you’ve established yourself, you can easily make $5,000 per month or more. One great thing about this is that you can usually start freelancing part-time while working a full-time job. Then, as freelancing becomes more profitable, you can make it your full-time gig.
4. Start an online business
Online businesses can be very profitable, and a good source of passive income, which can set you up for financial independence. Setting up a drop-shipping store with Shopify, for example, can easily bring in $5,000 per month or more once you’ve established yourself. Interested? Take a look at the Ultimate Guide To Dropshipping from Shopify!
Setting up a blog like mine can also bring in some extra money. Not only can you earn a little more money fast. You can also use the profits to donate to a charity as I do.
Wondering how to make money fast? Try out my suggestions and let me know how it goes!
I hope this guide has been helpful and helped you learn how to make money fast. There are two basic ways to make money – maximize your earnings, and minimize your expenses.
In this guide, I’ve provided you with a few examples of how you can do each of those. So thanks for reading. I hope this article has given you some inspiration about how you can make extra money each month and helped you on your journey towards being debt-free – and financial independence.
As always, feel free to let me know how it goes in the comments 🙂