Lets face it, the days of having one job your whole life, retiring and receiving a nice pension are gone. For years our parents and grandparents put their hearts and souls into companies looking forward to their retirement date.
Unfortunately, that type of job security is long gone and it’s more important than ever to have multiple income streams in case something doesn’t work out and you suddenly need to add to your income.
Read on for 7 income streams anyone can create.
Save Your Raise
If you get a yearly raise, but can live on what you were making before, put the extra money in the bank and ignore it.
You’ll be surprised how much you can save and if you find a savings plan with great interest rates you can get a handsome return.
Max Your 401K Contributions
Most companies offer matching plans that let you save money faster.
This is as close to free money as you’ll ever get, so take advantage and max out your contributions to get as much free money as possible.
Take Advantage Of Credit Card Points
Many cards offer cash-back options or points for certain types of purchases. If you have a card like that, use it for your monthly expenditures and watch the points add up.
Then, pay off the card with your paycheck to prevent interest charges while reaping the benefits of the card.
Look Into Consulting
If you’re an expert in your field, why not try doing some consulting work. Perhaps you can write or set up a social media account. Make a list of your skills and leverage them on a freelancing site to help others while bringing in some extra cash.
You’d be surprised how many people and companies are willing to pay to outsource small tasks to highly qualified individuals.
Sell Some Stuff
Whether you have a basement full of junk or a neighbor looking to unload some items from their shed, selling things you don’t need is a great way to bring in extra money.
Go through your house and find stuff you can sell, then put it on an online Classifieds ad or Facebook yardsale page and make a few dollars while de-cluttering your home. Make sure to take pictures and disclose any problems with the item so you maintain a good reputation.
Look Into A Fitness Benefit Reimbursement
If you’re a member of a gym or if you’re wanting to join a gym, your health insurance plan may offer a reimbursement option.
You can actually get money back for taking care of yourself. For example, Harvard Pilgrim offers members $150 each year to pay for a gym membership.
Turn Your Hobby Into Cash
If you love dogs or can knit a fancy hat, you can make money. Look into your hobby to see if there’s anyway you can make money off it. Even just a couple hundred a month can make a huge difference in the average household.
Perhaps you can teach knitting or sell your handmade creations at a craft fair. Vegetables sell well at roadside stands and caring pet walkers are always in demand. Even if you don’t make much, you might bring in enough extra cash to pay for your hobby.
Do you have any ways you generate extra revenue you want to share? Let us know in the comments section below.