Summer is unofficially here, and for many, that means having a little extra time on your hands. Whether you're on break from school or on break from toting your kids around, you may choose to use that time to make some extra cash this summer. Here are six ways to make a little extra moola, without exhausting yourself (yes, I just said moola).
1. Become part of the gig economy
The gig economy is made up of temporary jobs where businesses contract individuals. Many of the apps out there create perfect opportunities for flexible side gigs -- here are two that I’ve attempted and enjoyed:
- Uber: Instead of driving your family or friends around for free, get paid to drive strangers around. With apps like Uber, you can do just that. Make your own schedule and moonlight as a chauffeur this summer.
- Doordash: If you want to avoid awkward conversations with riders, you can also choose to deliver food instead. Doordash is an online food delivery service that allows you to choose your own hours and delivery area, you can even walk or ride your bike to make deliveries.
2. Get rid of your extra clutter
Are you hoarding possessions from the last decade or two? It may be time to consider a slightly more minimalist lifestyle and declare your house a clutter-free zone. Instead of finding the dumpster, find a local consignment store or use a website like Craigslist or eBay to sell your stuff. Here are five tips on getting the most for your items on Craigslist. Don’t limit yourself to just the closet; how about getting rid of extra furniture or kitchen items collecting dust?
3. Share your stuff
You can continue to share your “toys” into adulthood with apps like Airbnb and Turo. Airbnb allows you to lease or rent short-term lodging, anything from a single bedroom to an entire house. With Turo, you can rent out your car, which is perfect for a two-car household that only needs one on the weekends. These are great income-earners if you live in an area that has a lot of tourism, as there will always be a demand.
4. Get crafty
If you’re a naturally crafty person, it may be time to share your skills with the rest of us. On websites like Etsy, you are able to sell your crafts to the world. Specialty or unique items usually sell the best because consumers may not be able to find those types of crafts in department stores. So find your niche and sell away.
5. Turn your passion into cash
Is there something you’re especially passionate about? Turn your hobby into cash. If you love sports, referee this summer for a local sports league. If you love to paint, teach a painting class (hopefully with wine). For you graphic design folks, making cool t-shirts and art prints to sell is a great way to supplement your income. Earning extra money is always better if you can mix it with something you’re passionate about.
6. Earn money with your money
Why not let your money do the work for you? Saving and investing is one of the best ways to potentially grow your funds. With MoneyLion Plus, you can save a little each month into a managed investment account, and those funds will be invested in low-cost exchange-traded funds (ETFs). Your portfolio is personalized based on your individual profile and risk tolerance. The more money you’re able to save, the more returns you can potentially earn. MoneyLion Plus also gives you access to 5.99% APR loans and $1 daily cash back. Come check out the MoneyLion app or learn more at moneylion.com/plus.
However you decide to earn extra cash this summer, make sure you save time for family and friends. Those moments are invaluable. Let us know what your plans are this summer in the comments below.
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