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  • Crystal Jackson

    14 Ways to Supplement Your Income

    2024-08-22

    If you’re not reeling from sticker shock, it’s possible that you haven’t been to the grocery store lately. It’s rare to visit the store without hearing someone comment on the rising prices or flinch when the total comes up on their purchase. The Associated Press-NORC Center for Public Affairs Research reports that 2 out of 3 Americans have had household expenses increase over the last year while only 1 in 4 have had their income increase alongside these rising costs, according to an article for CBS News. With this in mind, you might find yourself looking for extra ways to make some cash this year.

    It doesn’t matter if you need the money to make ends meet or if you’re just looking for a way to pay down some debt. Growing your income is only going to help you achieve your financial goals. Shrinking your expenses can also help, but if you’ve already cut back as much as you can, here are 14 easy ways to supplement your income.

    14 Easy Ways to Supplement Your Income

    If you don’t have the skill set to start an online craft store and don’t want to join the latest and greatest in direct sales pyramid schemes, you might look for some other ways to add to your income. Some of these options can be done from the comfort of your home. Others will require that you leave your house to make the cash. While the rates may vary, any one of these options could increase your household income and make it a little easier to make ends meet each month.

    1. Donate Plasma

    Plasma donation is a great option for earning cash when costs increase faster than your income. Plasma donations treat trauma, shock, and burn patients in addition to liver disease, immune deficiencies, and bleeding disorders. CSL Plasma, BioLife Plasma, Grifols, KEDPLASMA, and Octapharma Plasma are some of the highest-paying donation centers. You will need a medical evaluation to qualify, and some exclusions apply. However, if you are eligible to donate, your twice-weekly donation can do some good while fattening your wallet. Just make sure that you eat well and hydrate before and after each appointment to stay healthy as a donor.

    2. Participate in Paid University Research

    Many colleges and universities offer paid research opportunities. You might find these advertisements on social media, but you can also search for paid university research in your area. I’ve participated as a part of the control group for mental health studies, and I’ve also signed up to participate in nutrition studies. Sign up for their mailing lists to stay in the loop on new participation opportunities that pay.

    The good news is that the universities don’t even have to be in your area. Many institutions will pay for your virtual participation. The Roman Family Center’s PIMCO Decision Research Virtual Lab pays $12 an hour for qualifying participants with an Amazon gift card. Search for virtual opportunities available to see if you qualify. Your paid participation could go a long way to supplementing your regular income.

    3. Participate in Paid Market Research

    Market research also pays. If you want to make extra cash throughout the year, get on a market research mailing list. You’ll receive surveys to see if you qualify for studies. I’ve participated in many of these, and most pay with either a check in the mail or the immediate receipt of a gift card.

    Most of these opportunities will only take a limited amount of time, and you could earn hundreds of dollars for your willing and honest participation. The higher-paying studies will require in-person attendance. You can also find many sites online that will pay you for completing online surveys.

    4. Donate to Make a Family

    If you’re eligible and willing to donate eggs or sperm, you could be compensated for the trouble. While egg donation is more complicated, the payout is also higher. Sperm donation might pay less, but it’s also possible to donate more often. Medical examinations and a full family history are required. Contact a reproductive donation facility in your area to see if you qualify as a donor.

    In the end, your donation could help make a family. Just keep in mind that you might one day be contacted by the results of your donation. If you don’t mind a mini you existing out there in the world, this can be a wonderful gift to a family in need — and one that will help you earn some additional cash.

    5. Babysit

    As a single parent, I can tell you that the going rate for a babysitter is higher than you might think. It’s also a great service to offer throughout the year for special occasions or to give parents a date night out. To compete in this highly competitive market, get a background check to show parents, take a CPR and first aid certification, and gather your references. Providing safe, friendly childcare for families in your community could help you earn the extra cash you need to cover increasing expenses.

    6. Pet-sit or Dog Walk

    If babysitting isn’t in your area of expertise, consider pet-sitting or dog walking. Many busy working families could use someone to watch their pets while they travel or walk their dogs during the workday. Check out the boarding rates in your area and offer a competitive rate for the best results. Dog lovers could enjoy spending the day with animals without having the full-time responsibility of caring for them. Apps like Rover help connect you with pet owners looking for assistance.

    7. Blog About Your Areas of Interest

    Many online journals and websites offer paid guest posting opportunities. If you have writing talent and some expertise, put it to work for you on sites like Medium and NewsBreak where you can share your work and get paid for it. How much you’ll get paid depends on how many readers you have, but you just might be able to increase your household income by sharing your experiences.

    8. Share Reels Online

    Did you know that you can make money by sharing reels on Facebook and Instagram? Sign up for their monetization program, and you can earn just by sharing content. Your views will dictate how much you’re paid. Even casual sharing could pay one of your bills, and it only takes a few minutes to create content. You can even use your reels to tag products you love and even earn affiliate credit or discounts.

    You don’t have to be an influencer to use social media to earn cash. I’ve been able to earn $40 to $50 each month simply by sharing videos on my public profile. Those with a larger audience might earn even more!

    9. Start an Amazon Storefront

    Another way to make income is to start an Amazon storefront. You don’t have to sell anything there. Instead, you can get paid for creating lists of your favorite things and sharing them. You can sign up on Amazon to be rewarded as an affiliate just for sharing what you’ve bought and loved.

    This is an easy way to earn side income. You can add products to a list or even make a short video showing some of your favorite things. Recommending products could add up, and it doesn’t have to be a time-consuming endeavor. While it’s never been a huge moneymaker in my household, it can still provide a little extra financial assistance throughout the year.

    10. Rent a Parking Space

    Another surprising way to earn extra money is to rent out a parking space on your property. If you have room to spare for a camper, RV, boat, or car, you can put it on Neighbor. Those looking for storage space can save money while contributing to your monthly income. To compete in this market, make sure your space is clean, clear, and preferably in a well-lit area monitored by home security. It’s quick and easy to list your space, and it could help your bottom line each month.

    11. Deliver Food

    Apps like DoorDash and UberEats offer quick and easy ways to become a food delivery driver in your area. With hourly rates, pay-by-offer rates, and customer tips, this can be a fast way to earn some extra cash. You can choose to have it directly deposited into your bank account the same day for a small fee or opt for once-weekly direct deposits. There’s a third choice where you can get your earnings deposited on a card. Delivering food can be a way to earn money while making your own schedule.

    12. Play Chauffeur

    Uber and Lyft are two of the most commonly known ridesharing apps available. If you have a vehicle or don’t mind renting one through their app, you may be eligible to offer lifts for pay to those in your area. Uber also gives you the option to deliver food and/or groceries. You’ll get paid a rate for each ride you accept, and customer tips are optional (but encouraged). This can be an easy way to pay down debt or supplement your budget.

    13. Use Available Reward Systems

    If you have a credit card with rewards, I highly recommend taking advantage of the rewards — but only if you can afford to pay off the balance each month. Debt can snowball quickly, so make sure to only use the rewards in ways that help your financial situation rather than making it worse. Capital One even offers a shopping app that will alert you to coupon codes and discounts for your online purchases.

    Credit cards aren’t the only ones out there offering customer rewards. Apps like Fetch offer gift card credit for scanning your shopping receipts. Ibotta is another shopping app that will allow you to scan receipts and earn credit toward redeeming gift cards. I’ve tried both and have found that they actually do reward regular scans with points. Don’t expect to get rich quickly, but it can be a great way to save up for shopping credit at the holidays! There are plenty of similar apps out there on the market to try. Just be sure to read the privacy agreement before signing on.

    14. Refer a Friend

    Although you might be looking for cash to pay the bills, don’t pass up the many benefits of referring a friend. So many companies have discount and bonus policies for referring others to their business. Book of the Month offers your friend their first book for only $5, and your reward for referring them is credit for a book for a book. It’s a win-win, right?

    You don’t want to become that friend who is constantly asking other people to buy stuff for their benefit, but if someone expresses an interest in something you’re doing or something you bought, see if there’s a referral option to share the love. It could save your friend some money and benefit you in either cashback, discounts, products, or other rewards.

    You and Your Relationship With Money

    It’s important to remember that increasing income and reducing expenses is only half the battle. The other half will be evaluating and possibly changing our relationship with money. This part is, I’m afraid, not easy at all. So much of what we learn about personal finance comes from our background and culture, our families, and even our peers. Learning to have a healthier relationship with our finances is just as challenging as having any other healthy relationship. It takes work and effort to achieve.

    For a long time, I wouldn’t spend extra money. I was afraid to. I was used to living with lack. I hoarded my special makeup and candles, afraid of running out of what I had. Later, I found myself on the other side of the financial spectrum. I got comfortable. I started spending. That wouldn’t have been problematic if the spending hadn’t been with credit cards while my savings stayed empty. It took a long to find the balance, and then a financial crisis set me back again. I finally understand that this will likely be a lifelong journey of reinforcing good money habits and checking the bad ones.

    Finding extra income and reducing expenses will help. It also helps to change what we’re doing. Learning to save more and to spend responsibly can pave the way for financial freedom — even if it’s a long time coming.

    Income on YOUR Schedule

    The good news is that finding remote work or additional income can be quick and easy if you don’t have the time or energy to offer a rideshare or start an online side craft store. This list is merely a tip of the proverbial iceberg. Take a moment to assess your life and see if there are any skills you have that could be used to supplement your income. Chances are, there’s something already present in your life that could help boost your bank account.

    If you’re looking to make cash, consider redecorating a room and renting it out on Airbnb for travelers, becoming a social media influencer, or taking your home garden and renting out a booth at a farmer’s market to sell seasonal produce. Those with artistic talent can make a digital upload to sell on Amazon such as a journal or coloring book. If you have gently used clothes and shoes, you can check out some of the online shopping apps that allow you to sell them. It’s good for the environment, and as long as you don’t mind shipping your products, it can be good for your budget, too.

    The sky’s the limit when it comes to figuring out ways to extend your income. It will require a little effort, but it could be worth it if it lowers your stress and helps pay down some debt or cover monthly expenses. If you’re feeling the squeeze, take a deep breath and tap into your inner resourcefulness. You can do this.

    Your income often won’t increase as fast as your expenses. Begin closing the gap today by getting on a few research mailing lists and looking around to see what services you can offer in your community that might be needed. With a little ingenuity, you could make the sticker shock in the checkout lane just a little easier to bear and be that much closer to true financial freedom.

    Originally published on Medium


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    Comments / 2
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    Paula Johnson
    08-22
    I don't mind babysitting in Milwaukie, OREGON but if I get pays with cash only. I am married, parent for 33 years and grandparent for 12 years
    Guest
    08-22
    Shoplifting is one. Find a camp that is empty in the winter, break in and take what you can including outdoor propane tanks.
    View all comments
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