Save Money by Creating Extra Income

According to a recent survey, 35% of Americans say lack of income is the main reason they aren’t saving money. So If you’re already living frugally but are struggling to save, here are some easy ways to add income without adding too much work:

42. Sell Your Extra Stuff

save money on your new clothes, housewares, and electronics you purchase by selling your old ones. Check your closet for clothes you haven’t worn in months and for old electronics. There are many places to sell unwanted items online, including eBay, Craigslist, or Facebook Marketplace. You can also hold a traditional yard sale if you want to sell in bulk.

43. Rent Out Equipment

Why pay for your tools or equipment when they can pay for themselves? Apps like ToolRent or PeerRenters let you get paid for sharing items like drills, whiskers, and cameras with the community. Consider listing anything you have that has a specialty use.

44. Rent Out an Extra Room

You can reduce your own housing host by adding a short-term resident. List your spare room, or even couch on an app like AirBnB to save money on your rent or mortgage.

45. Sell Your Parking Spot

If you live in an area where parking can be expensive or hard to come by, consider renting out your spot to people during the day while you’re at work. Use this money to save on your own car’s expenses and parking.

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46. Trade Gigs With a Neighbor

While not monetary income, you can earn favors by trading jobs with your neighbors or friends. For example, you can take turns babysitting your friend’s kids, or watch your neighbor’s pets while they’re out in exchange for them mowing your lawn.

47. Monetize Your Passion

Make your free time earn you money as well. If there’s a hobby or skill you do for fun, consider selling the fruits of your labor. If you love photography, try selling photos on stock websites, or if you find yourself writing at the end of the day, try starting a blog.

48. Become a Mystery Shopper

You can save money on services, meals, and experiences in exchange for completing honest feedback to companies. This can be especially effective if you use it to do things you’d normally do.

49. Work at Your Favorite Place

If you already spend a lot of time at soccer games or at the bar down the street, become a referee or bartender on the weekends and you will save money on game tickets and drinks. Plus, it won’t won’t feel like work.

50. Consider Signing up for Cash Back Offers

Take advantage of the fact that some major credit cards offer cash back on purchases. You can also use a service like Ebates, which partners with retailers to give you cash back. Keep in mind that these services are designed to motivate you to buy things you wouldn’t normally buy, so use caution.

51. Pet-Sit

If you’re an animal lover, getting paid to play with other people’s animals could be an excellent option for you, and help you save additional money on entertainment. Depending on the owners’ needs, you may even be able to keep their pet at your home, cutting down on the work for you. Apps like Rover make it easy to connect with owners.

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Save Money by Spending Less

If your needs are a little more short-term, here are some ideas to keep from spending the money you already have, and make what you do spend go farther: save money

29. Try Envelope Budgeting

Credit cards help you avoid the pain of purchase, which may cause you to spend more. With cash you become more aware of what you’re spending. In addition, you can divide your cash into envelopes with allowances for different purchases, which will ensure you don’t spend too much in one area.

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30. Calculate by Hours

When trying to decide if something is worth buying, try thinking of the cost in terms of how long it takes you to make that money. This can help you get a sense of the true value of your money.

31. Think Twice About Sales

While some sales are good deals, there’s no sale that’s going to cost you less than not buying the item at all. When purchasing an item on sale, ask yourself if you would have bought the item if it were full price, and if the answer is no, skip it.

32. Buy Used

Local thrift stores and online auction sites like eBay offer everything from clothes to electronics at stellar discounts. You can get slightly used high quality items at a fraction of the cost of their newer counterparts.

33. Go to the Library

Some people don’t realize that their local library is a great resource for free entertainment, especially for kids. Many offer movies and games in addition to books, as well as free events and readings for kids every week.

34. Buy Generic

Check the ingredients on brand-name medicines and foods, as they’re frequently the exact same as the less expensive options out there. If you can’t detect any difference in quality, you don’t necessarily need to buy the name brand.

35. Eat In

It can be tempting to eat out every night, but you can make eating at home more appetizing by making eating at home delicious, fun, and easy. Try to cooking new recipes, setting up a picnic, or simply meal-prepping.

36. Use the 24 Hour Rule

This is similar to the 30 day rule, but for less expensive purchases. Wait a day before buying a small item and you may find you didn’t want it after all.

37. Designate No-Spend Days

Challenge yourself and your family to go one day a week without buying anything, from your morning coffee to a movie ticket. You’ll reduce your spending and become more aware of how mindlessly you make small purchases.

38. Go Outside

The great outdoors is almost always free, and with the added benefit of free exercise, the outdoors is an incredible resource. Try going on a walk around your neighborhood or taking a day trip to a local sight.

39. Take Public Transportation

Try replacing your drive to work one day a week. This can save you both money and time because you can get other things done on the bus while saving money on gas and wear and tear on your car.

40. Clothes Swap

Before you buy a new outfit, get some friends together and swap them old pieces you don’t want anymore. You can also exchange kids clothes and toys with neighbors or family members.

41. Drink Less Bottled Water

Bottled water is almost 300x the cost of the same amount of tap water and the average American spends about $100 a year on it. Consider switching to a filter, and let it pay for itself.

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