Are you strapped for cash? These days, many families run on incredibly tight budgets, and worries about money can be a major source of stress. However, there are many ways you can earn a little extra money without spending every free hour at work. Even an extra $20 a week can easily be turned into a fun day trip or purchase your family can enjoy together (or a cell phone bill, utilities, etc.). Here are 6 easy ways to increase the amount of cash your family has to play with every month:
1. Selling old clothes
Most Americans’ wardrobes are full of clothes that they hardly ever wear. Instead of allowing them to take up valuable room in your household, why not sell them? Consignment shops offer money for clothes in good condition, as well as websites like eBay and Depop. On most auction sites, you can set a minimum price.
2. Selling old furniture
There is a huge demand for vintage pieces right now, and second hand furniture sells very well. You can list these old pieces on auction sites as well, but you might have better luck selling them locally through a second-hand store, or on local selling sites such as Craigslist or Facebook groups.
3. Start a blog
If you love to write, blogging can be lucrative. It’s fairly easy to earn a bit of extra cash from a popular blog. It takes a little while to get going, but when you have established a decent number of readers, you can earn quite a bit of money from running sponsored posts and advertisements.
4. Make sure you’re claiming all eligible tax credits
The tax system is constantly changing and many tax credits go unclaimed. Before you file your taxes, be sure to talk to your tax preparer or an accountant to be sure you are claiming everything you’re entitled to, especially if you are self-employed or have significant assets.
5. Use coupons
Are you signed up for the discount card at your favorite grocery store? Supermarkets frequently reward their most loyal customers with special sales and coupons. Similarly, if you are brand loyal to a specific brand of diapers, pet food, baby formula, or another expensive specialty item that needs to be regularly purchased, the manufacturer often offers a rewards program or special discounts. A dollar or two off one item doesn’t seem like much, but it adds up easily, especially when multiple coupons are used at the same time.
6. Change the way you bank
Are you looking for a loan? If you’re a homeowner, consider an equity loan. The interest rates on this type of loan are much lower than most other loans. Even if you are buying a used car, you might be able to get a lower interest rate, as well as a better deal as a cash customer, by using an equity loan instead of an auto loan. Similarly, if your savings are in your regular bank account, make them work for you by moving them to high yield savings accounts, or investing them.