6 tips on earning extra money

What was the first thing you ever did to earn extra money? Maybe run a lemonade stand? For me, it was working on my aunt’s ice cream truck. Of course I was just a kid, but every dollar brought me closer to a new pair of shoes or a coveted item that my mother was convinced was a waste of money.

How did you first earn extra money? How do you do it now? Siblings Tori and Danny Dutkiewicz sold lemonade as a fundraiser. Credit: Family Special

I’m all grown up now, but I still contemplate ways of earning a few extra dollars. Perhaps you do the same. One of my favorite blogs, Get Rich Slowly, touched on the topic a while back. It was part of a more general post with tips on ‘Mastering Your Money.’ This excerpt was of particular interest to me, though.

How can you earn extra money? Despite being disciplined spenders, we could all benefit from an income boost. Here are a few tips from the post on how you can do it:

* Ask for a raise. Several readers have written to tell me how they’ve given themselves a raise through ambition and ingenuity. Here’s one example.
Switch employers. Not every employer is able or willing to offer raises, even when they’re merited. If you’re in a position where a raise isn’t possible, consider finding a new employer.

*Take a second job. Many people find that the best way to get out of a financial hole is to temporarily take a second job. Nobody wants to work more than 40 hours per week, but sometimes that’s what is needed to get out of debt or to save for a house. Just remind yourself that you’re doing this for a short time.

* Use your hobbies. Yes, it’s possible to have money-making hobbies. You’re not going to get rich playing World of Warcraft, but many people use productive hobbies to earn a little extra income.

* Volunteer for medical research. Last summer, I earned $120 for a couple of hours spent participating in medical research.

* Sell things. When I decided to get out of debt, one of my first steps was to sell a bunch of the stuff I’d bought with that $35,000. I used eBay, Craigslist, garage sales, and the Amazon Marketplace to sell the things I no longer needed or wanted. The money I earned jump-started my debt reduction.

* Another effective way to increase your income is to pursue entrepreneurship. While working to defeat my debt, I started a small computer consulting business. It didn’t generate a lot of income, but it did provide $2,000 a year that I wouldn’t have had otherwise!

What have you done to pick up some extra cash? Have you turned a hobby into income, or taken a second job?