As much as we talk about how to save money on The Frugal Couple, sometimes we come to the realization that we simply need to bring in more money.
Tip #1: Sell Your Stuff
Most of us have extra things lying around that we no longer need. Over the years we’ve made several hundred dollars selling used books on Amazon. Many people have turned to eBay or Craigslist and had good results as well. When you look around your home or garage, compare the value of the item in dollars to the value you get from it collecting dust and taking up space.
I wrote an article on selling books on Amazon and you may want to check it out by clicking here.
Tip #2: Invest in Dividend Paying Investments
Right now, there are some stocks that are paying dividends in the 6-7% range. Take a look at mutual funds that invest in these by searching for “high yield mutual funds” in your favorite search engine.
Tip #3: Turn a Hobby Into Income
I have a hobby of printing letterpress wedding invitations and stationery. At times I’ve put on my marketer’s hat and sold invitation sets, business cards, and stationery and it’s earned a handsome profit. The two biggest things you need to understand are the value of your skill to others and how you’re going to get the word out that you do whatever it is you do in exchange for money.
What are some of the ways you earn extra income?
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Hello David,
Thanks for your tips. It is really important to explore all the extra income opportunity during this economic turbulent period. Your tips are inspired and show a light in the tunnel.
Especially the last tips “Tip #3: Turn a Hobby Into Income”. Yes, you have the point. Every one should and could monetize their knowledge online.
There is an eBook – Make Your Knowledge Sell offers for everyone. It talks about how to monetize your expertise.
Wish you have a nice day.
myTanny