“Your life will change when you put more energy in your dreams than in your fears” ~ Anonymous
These days, everyone is looking for ways to tighten their belt. However, when you have gone as far as you are willing to tighten and you are still short of money, then the only other option is to make more!
First, ask yourself 3 questions:
- How much more do I need?
- How much extra time do I have?
- What can I do?
The first question can be answered by doing the math. Add up all your sources of income and subtract all of your expenses, averaged over a monthly basis. Determine what the gap is when considering your current spending and your goals. A Money Coach can help put all of this together easily in a personalized Spending and Savings plan.
The second question depends on whether you work full time or part-time. Do you have family commitments, children or elderly parents that need a lot of your time? Alternatively, can your family participate in helping to bring in more money?
The third question is a little more complicated. First, you need to figure out what your strengths are and what you can do. Ask your friends and family about your best attributes. You may be surprised at some of their answers! Also, what items do you already own that can make you money?
Ways to Pocket More Cash
Ask for a raise, or work a few extra hours.
Look around your home – do you have any unused items? Hold a garage sale or sell things online. Take in recycling like bottles, scrap metal, old coins or jewellery for cash.
How about a family paper route? Or dog walker, tour guide, blogger, or editor? How about pouring samples of spirits at the liquor stores, taking online surveys or becoming an online expert?
Could you prepare meals for busy professionals? Or use your sewing machine for repairs or alterations? Or offer services like cleaning, virtual assistant, home sitter or gardening?
Use your Skills and Attributes to make Money
Take pictures to sell, make greeting cards, or take pictures for realtors. Make pottery, or fishing flies!
Teach a language, or computer skills to seniors. Be a tour guide for your local ski hill, museum or city.
Use What you Already Have
Look at everything you own – how can it earn money?
Can you rent out a room to a student? Do you have a large yard to store trailers or boats for winter?
Do you have Sea-doos, campers, or boats? You can rent these out or use your ATV for snow removal or wood hauling!
However you decide to bring in extra income, make sure to put the extra earnings towards specific goals right away before the cash disappears. Pay down your debt, or save for a family vacation – the rewards will be well worth it!
Leslie Gardner, Bookkeeper and Money Coach helping families take away the worry about money, so their life becomes their own.
Great article Leslie! So many good ideas to bring in more household money!