Making extra money is the best way to change your financial situation. The good thing is that in our current time, there are so many ways to earn extra money through the classic side hustle. Basically this is a “job” you do on the side of your main job. You can earn money with your extra time to either pay off your debt, save for a vacation, down payment on a house, retirement, etc.

The biggest question I always asked myself was “what is a good side hustle?“

If you were like me with a full-time job and a good amount of debt, then the only way you might think of earning more is by getting a raise at work. That, or moving over to a new company. Unfortunately, waiting for a raise or promotion is a terrible way to earn extra money. I wouldn’t suggest it, so that’s why I’m giving you so many different ways to make extra money, starting as early as today. Yes, you can make more money right now if you choose.

Ever since I started this blog back in 2012, I had only thought about making extra money in specific capacities. I was a mystery shopper, did some discussion panels, and sold stuff on eBay. I even ran an e-commerce business selling stuff on my website and Amazon. Having said that, there are so many different and awesome ways to earn extra money outside of your day job. I’m excited to share these with you and hopefully you will find something you can use.

Now that I work for myself (thanks to starting this blog), I’m always on the lookout for cool ways to earn extra money. There might be some downtime in my business where I need to think of making money outside of my “day” job.

You can call it a side hustle or just extra work. I don’t care what you call it. The options to make extra money have grown since the explosion of apps and internet powered companies. Now, it’s up to you to value your time and see how you can also earn more money. This list gives you more than enough ways to try to generate income. Not all are going to be applicable, but you should find something.

Make Money Online

One of the easiest ways to make money is from the internet. You can literally work from anywhere in the world at any time of day as long as you have an internet connection. Even during your lunch break! Grayson was able to travel Europe for a month with his family while working from different countries. Working online affords a lot of opportunities, but it still takes some knowledge on how to succeed.

The best part about making money online is you can try multiple areas of money making ideas. You don’t have to just do one, like a full-time job. You can have your hands in multiple money making pots!

Investing Your Money

You should already be investing for retirement through your employer 401k or personal IRA. You can also make investing your new hobby because it earns passive income. And it might be the only “hands off” activity that can make you money when you use a robo-advisor like Betterment that makes all the investment decisions for you. If you like the thought of hands off investing, check out our list of the best robo-advisor companies.

I’m also a huge fan of simple and easy investing with Vanguard. Getting into a few great ETFs like VTI or VOO are a great way to make extra money.

You can check out our investing articles for more info on how to do it and be comfortable with investing.

Answer Surveys

Answering surveys is an easy way for anybody to make money as most surveys can be completed in a matter of minutes. This is a good option for your lunch break, the bus ride home, or in the evening. You can get started for free at Swagbucks, Inbox Dollars, or Survey Junkie which offer daily surveys.

Try not to get caught into the scam sites that require you to pay to join. You should never have to pay to join a reputable survey site.

Just note that answering surveys is not going to make you rich.

Participate in Focus Groups

Daily and weekly surveys can make you a decent side income, but, online focus groups can pay more because you get paid to test a product or provide more in-depth responses on issues than a traditional survey. Vindale Research and Toluna are two survey companies that can provide more focus group opportunities.

Watch Videos

Swagbucks and Inbox Dollars will pay you to watch videos like news clips and tv commercials and you only need to provide feedback. These two sites will also pay you to shop online, surf the web, and play video games.

If you want to make money doing what you already do on the web every day, you should strongly consider joining these two sites and start getting paid for your web activity.

Surf the Internet

Instead of only going to Google to research something online, get paid to perform web searches at Swagbucks and Inbox Dollars. Since these two sites allow you to make money by performing a host of online tasks, your earning potential can be higher than other paid search platforms.

If you want to get paid for every minute you spend online, join Nielsen Digital Voice. You can register your computer, tablet, and smartphone and get paid to share your browsing history.

Start a Blog

Creating your own blog can serve dual purposes. Blogging helps create an online portfolio you can show to potential clients if you plan to freelance online. And, you can also use your blog to earn passive income from affiliate marketing where you earn a commission every time a visitor buys a product you recommend.

Several successful bloggers routinely make over $100,000 a year through affiliate marketing. It only takes a few minutes to get started and by hosting your site on SiteGround.

Here’s a complete “How to Start a Blog” guide that will get you where you need to go.

Freelance Writer

Companies and blogs are looking for gifted writers to produce content for their visitors to read. The best part about freelance writing is that you don’t have to be an English or Communications major to get hired. You just need to be able to express your knowledge with written words and can start making money in 30 days or less with zero startup costs.

There are many ways to become a freelance writer, especially if you know who to talk to, but this course will show you exactly how to do it from someone who earns over $200,000 each year writing for other people.

Here is another great course that can give you insight into starting a freelance writing career.

Create a YouTube Channel

If you’re not camera shy, you can also make money by creating a YouTube channel where you talk about your area of expertise. It might be repairing cars, reviewing video games, or talking about makeup.

You’ll need a good camera and probably some light kit to do some of your videos, but those are usually the only expenses you need to get started..

Graphic Design

You can also make money in online graphic design by connecting with clients around the globe. A few places to start designing are Fiver, UpWork, or Freelancer. Or, you can contact local businesses. You can also get into Facegroups to see if people are looking for work.

Another great place to start out with your graphic design chops is 99designs. It’s probably the most popular graphic design focused site.

Design Websites

In addition to designing logos and web graphics, you can also make money designing custom websites for businesses and blogs looking to create their own unique brand. If you want to get started quickly in this market, you can start a profile over on UpWork and start bidding on projects.

Website Management

A natural stepping stone for designing websites is website management for these same clients. You can ensure their websites remain secure with the latest plugin updates and backing up their websites in case their information is accidentally deleted.

This type of work is for someone who knows what they are doing and are process oriented. iMark Interactive provides this type of service for WordPress bloggers and is very highly rated.

Become a Virtual Assistant

Maybe you don’t want to create original content but want to manage other people’s content instead. Many blog and website owners are looking for virtual assistants to answer emails, share on social media, or even manage a blog by scheduling posts and podcasts.

This course will show you exactly how to setup a functional VA business in 30 days and you can start earning money.

Create an App

If you have some knowledge in computer programming, you might be able to make money by creating an app. There are several websites available that can provide resources if you don’t have all the tools. You can also check out sites like ibuildapp.

Flip Domains

You can make money by purchasing desirable domain names and selling them for a profit. Flippa is one of the best sites to attract bidders. You can also sell websites and apps on Flippa too.

Sell Websites

This side hustle might take a little more time and can be very rewarding. By building a website from scratch that makes monthly income from advertisements, affiliate income, or drop shipping on Shopify will attract potential buyers.

Test Websites

You can also make money testing websites, apps, and video games. Developers like to pay real people like you to interact with their website and provider your feedback in real time. Visit UserTesting to learn how to become a tester.

Transcribe Audio Conversations

Get paid to transcribe audio conversations for corportate, legal, and medical professionals. Rates start at $20 per audible hour and you can become a transcriptionist at TranscribeMe!

Become a Proofreader

An eye for detail and a knack for grammar can help you become an online proofreader. Some of the possibilities include proofreading blog posts, books, white papers, and legal transcripts. This can be a great way to earn some extra money while reading (if you’re into that sort of thing!).

Write Professional Resumes

Career changes are very common and job seekers hire professional resume writers. If you can write cover letters and resumes that will turn a job application into a job interview, this side hustle is for you.

Online Phone Representative

Companies are hiring online customer service reps to answer phone calls and live chat from home. You will need reliable internet and a quiet, distraction-free environment to qualify. Online retailers like Amazon will advertise openings on their own site, or, you can also check out FlexJobs.

Creating Ebooks

Ebooks are huge right now. People are buying up digital books to make their life clutter free. This is especially the case with Kindle ereaders and ipads. You can just download a book title so easily now.

This has enabled people who love to write the ability to monetize their efforts much easier than traditional book publishing. You can self-publish on Amazon and have access to their huge customer base with much less effort and overhead.

Academics

Are you good at a certain subject matter? How about teaching someone what you already know and earning money doing it? You can make money by helping others learn. Don’t just think of subjects in school, but you can also each people something you’re good at like blogging on WordPress or even a musical instrument.

If someone is always asking you the same questions because you have a skill set, then it might be time to think about monetizing your knowledge!

Tutor

Tutoring can take place online or in-person. One online tutoring site is Studypool where you can submit bids to help students with their homework questions in over 30 subjects. You can even tutor as a college student and charge higher rates once you earn your college degree.

You can also tutor in-person by advertising your services on Craigslist or other online tutor boards. High school students and college students are constantly looking for help in every academic subject from English, History, Math, Chemistry, and ACT/SAT Test Prep.

Create an Online Course

Making your own video course or teaching aids that can be purchased from your own website, YouTube channel, or learning platforms like Udemy is another way you can share your knowledge with others. You can also check out places like Teachable or Thinkific as good online course platforms.

Teach Music Lessons

Many parents also want their children to learn how to play a musical instrument. This is another good side hustle idea as all lessons are taught after school.

Become a Part-Time Instructor

You might be able to teach courses at a local community college or even become a substitute teacher for your local school district. Sometimes, you don’t even need an education degree to start teaching.

Sell College Notes

Organized college students can also make money selling notes online to students that don’t keep notes themselves or might have missed a class. Nexus Notes is a big player in the online note selling space.

Translator

If you are skilled in a foreign language, you can translate for a local business event. You can also teach English as a second language to non-native speakers too.

Make Money with Your Hands

Do you like to work with your hands? How about making some money while doing it in your spare time. You can make money with your own hands, locally and online. These types of income ideas take a little more to get started, sometimes time and other times money, but they can be lucrative. Not many are rushing out to do work with their hands so the opportunity is there.

Craigslist Gigs

Checking your local Craigslist gigs section can help you find some one-time income opportunities for a variety of tasks.

Be a Handyman

If you are a jack-of-all trades, advertise your services on TaskRabbit. You can get paid to help people move, perform home repairs, or assemble furniture to name a few tasks.

Home Inspector

If you have a passion for homes and helping people, maybe becoming a home inspector might be a good idea. It does take some time to become certified, but that allows you to charge a bigger fee and have your worked backed by a national organization. Home inspectors in my area charge around $500 for an inspection and report. It can be more depending on the size of the home.

With all the shady inspectors out there, this could be a good market for someone who is meticulous.

HVAC Repair

Homeowners are always needing their heat and air conditioning systems repaired. Especially when the first cold snap or heat wave arrives and the professionals are overscheduled or overpriced.

Repair Siding and Gutters

Housing siding and gutters need to be repaired periodically from age and weather. Hiring you can be cheaper than using a professional service.

Mobile Mechanic

If you know a lot about cars and have the tools necessary to fix them, then you might check out becoming a mobile mechanic. You can fix people’s cars when they are at work or at home making their lives a little easier. Starting this business can take some time, but you could just join Your Mechanic, which is a service site with a huge base of customers already using it.

Clean Gutters

Gutters also need to be periodically cleaned when they get clogged with fallen leaves. All you need is a ladder and a love of heights. Maybe a broom and blower too!

Pressure Wash

You can also make good money pressure washing houses, apartment complexes, and businesses as property owners try to keep their structures looking “fresh.”

Install and Finish Sheetrock

When people remodel or build an addition, they might outsource the sheetrock hanging and finishing to somebody with experience.

Paint

Painting interior rooms or the exterior siding of a house can also be lucrative if you have an eye for detail. Many people don’t have the patience to properly blend in their brush and roller marks.

Mow Lawns and Landscape

Working professionals are willing to pay you to mow their lawn and landscape their property. Mowing and landscaping can also be a good seasonal job for the spring and summer months.

Shovel Driveways

In the winter time, you might be able to make even more money per hour by shoveling your neighbors’ driveways and sidewalks.

Snow Plow

If you have a 4-wheel drive pickup and a plow, you can also make money plowing and salting roads and parking lots. Life must go on even when it snows, and you can be there to make sure that happens.

Cut and Deliver Firewood

Many people still heat their homes with wood and do not have the time or tools to collect their own firewood. This can be good money if you have a regular source for firewood.

Take Down Trees

If you have the knowledge to remove trees, this can be another rewarding side hustle. In addition to making money for cutting down the tree, you can sell the downed tree for firewood as well. Yo just need some skill and a chainsaw to get started. Maybe a little initiative as well.

Pack Boxes

Families preparing to move might need you to carefully pack their belongings.

Become a Mover

People also need extra muscle on moving day to load or unload the U-Haul. Searching Craigslist or TaskRabbit are two good starting points. And, it can be a good weekend side hustle.

Haul Off People’s Junk

If you have a truck or trailer, you can charge people to haul off their junk that the trash service will not pickup. You might even be able to salvage and sell some of their belongings for cash.

Clean Houses

Working professionals will pay you to clean their house or vacation home. You might also consider cleaning rental properties when tenants move out or vacation properties before the next guests arrive.

Clean Windows

This is another task that people simply don’t want to do because they don’t have the time or know you can do a better job at.

Clean Pools

Pool cleaning and maintenance is another hassle than many homeowners don’t want to mess with. Primarily because cleaning a pool takes time and keeping the correct water pH balance can also be overwhelming if you don’t do it on a regular basis.

Clean Businesses

Many businesses, medical offices, and industrial complexes also have individuals come in at night to clean the property after the staff goes home. This can be a good second income because of the evening flexibility.

Wash Cars

Is your car immaculate inside and out? You can make money washing other peoples’ cars. And, all you need is basic car washing and detailing supplies that you already use for your own car.

Install Flat Screen TVs

Installing flat screen tvs and home entertainment systems can also be easy money and only require a few hours of your time for each install. You might need an extra hand to carry the tv, but, you only need a few hand tools, a level, and measuring tape to get started.

Collect Scrap Metal

You can also make a few bucks and help save the earth by collecting scrap metal for cash. You can make money by selling old appliances, grills, and other metal to scrap yards. Craigslist can be a great place to look for free deals where people don’t have the means of hauling their old appliances away themselves.

Repair Old Appliances

In addition to collecting scrap metal for cash, some appliance are worth more if you can spend a few dollars and make any necessary repairs. Not everybody wants to buy a brand new appliance from Lowe’s every time and this frugality makes refurbished appliances a hot commodity.

Pick Up Trash

One man’s trash is another man’s treasure. That can be very true in this instance. If you don’t mind working for your money, you can clean up trash around commercial buildings in order to keep the money flowing.

One man started cleaning commercial parking lots and was able to earn upwards of $100,000 per year just cleaning up trash.

Monetize Your Hobby

It’s also possible to make money by helping others without necessarily having to perform manual labor. And, get paid for doing something you already do in your free time as a hobby. One of the more popular methods is now driving for Uber or Lyft. You can monetize your regular driving route with ease.

While we traditionally think of hobbies as something that’s fun outside of our job, we now have many opportunities to monetize our hobbies while still keeping them enjoyable. What better way than to enjoy your hobby and earn money doing it?

Become a Pet Sitter

Walking, playing, and caring for pets while their owners work or travel can also be very lucrative. Professional pet sitters can make over six figures a year through pet sitting. Sites like Rover.com can help you get started.

Baby Sit/Child Care

You can also make money babysitting children during the work day, in the evenings for date nights, and on the weekends. This can be a competitive field, but getting on sites like Care.com can be a boost for your income and reputation.

Consulting and Coaching

This industry has become saturated by people who claim they are coaches and consultants. This makes it harder for those who actually know what they are doing to break in, but using a site like Clarity.fm can help. You can apply to be an “expert” in a specific field and you can earn money helping startups and entrepreneurs with questions and issues.

It’s a great way to expand your skill set and show what you know.

Woodworking

People like wooden handicrafts like wall decorations, birdhouses, and wooden bowls. You can sell these items at local craft fairs or online at your personal website and other online retail websites like eBay and Amazon.

Repair Computers

Make some money repairing your friends and co-workers’ computers so they don’t have to buy a new one. Another option is buying cheap used computers, repairing them for cheap and then selling them for a profit on Craigslist.

Become a Notary

A notary public is a common thing when you need to get paperwork signed. This could be for a contract, mortgage, lease, or many other things. One of the better ideas is to be a mobile notary public, so you travel around when people need you. These have become popular considering many need a notary on the weekends and they are much harder to find.

You need to figure out from your state and local government what the rules are, but once you become a notary, which has a low barrier to entry, you can charge what you want for your service.

Make Handicrafts

Making and selling handicrafts on Etsy is another way to make money. You can sell quilts, house decorations, jewelry, clothing, and vintage items.

Amazon also has their own version where you can sell your handmade goods.

Decorate Houses

Who said being an interior designer was a full-time job? While a design background can be desirable, you can make money coordinating home makeovers as you help the homeowner choose wall colors, décor, and maybe even appliances.

Stage Houses for Sale

When homeowner’s list a house for sale, they might hire somebody to stage furniture to make their house “pop” and help the buyer visualize their own belongings in place. This can be a good option if you have access to an array of furniture that can be toted from property to property as they sell.

Drive for Uber or Lyft

Make money on Uber or Lyft by driving people around town on your way to or from work and also on during the evenings and weekends. You will need a four-door car and a clean driving record to start ridesharing.

Be a Delivery Person

Delivering pizza might be the first delivery side hustle that comes to mind, but, you can also get paid to deliver prescription medication for pharmacies, and some online retailers like Amazon and Boxed are now offering same-day delivery in select cities and are in need of delivery drivers. Services like Grubhub, DoorDash Uber Eats, etc are good places to start.

Rent Your Car

If you don’t have the time to drive people around, you can also make money renting your car on Turo or HyreCar. Travelers like this option because it can be cheaper than a rental car agency and there can even be a wider selection instead of only getting what the rental car agency has in stock.

Become an Airbnb Host

Listing a spare bedroom on Airbnb or VRBO can also bring you some extra income. And, it can be a great opportunity to meet new friends that can be visiting from all over the world!

Rent Out Your Parking Spot

There’s a new app out there that is growing across the US that allows you to list your parking spot for rent. You earn money by renting out your unused parking spot to those in need of parking in your area. This can be an easy way to earn money if you have a spot available.

Referee Sports Games

Being a referee for local youth sports games can also be a fun way to make money and watch live sports simultaneously.

Teach a Physical Fitness Class

You can also teach a physical fitness class at a local gym, civic center, or church. Whether it’s Crossfit, yoga, or something in between, people like the challenge and relational aspect of attending a fitness class.

Be a Street Musician

When you aren’t teaching music lessons, you can make money playing music as a street musician or even being a member in a live band.

DJ Special Events

If you enjoy making playlists and being an emcee, you can be a DJ for special events like weddings and parties.

Be a Photographer

You can also photograph special events like engagement photos, weddings, family pictures, and pets. In addition to special events, selling stock photos online at sites like Shutterstock can also make a small income as websites and bloggers pay to publish your photos with their articles and posts.

Videography

A videographer records live video of events when still photography isn’t enough. A few events you can film include weddings, performances, and business videos.

Another videography is making money with a drone flyover. Sellers and buyers like drone video when trying to give a bird’s eye view to sell a piece of property or another real estate listing.

Catering

You can also make money catering special events including weddings, parties, and fundraisers. People always have gatherings that include a prepared meal.

Mend Clothes

Expensive outfits, pants, and shirts tear or might need to be resized for the owner to continue wearing. Using your sewing skills at a tailor can be worthwhile as many people don’t mend their clothes anymore.

Security Guard

Business parks, malls, and other places of business hire part-time security guards to watch the premises. You don’t need a law enforcement background for most positions and can begin working after taking a few classes offered by the security company.

Here’s a great resource to learn how to get the appropriate training.

Garden or Raise Chickens and Eggs

If you live in the country, you might have the real estate to grow a garden or raise livestock like cattle or chickens. People love going to their local farmer’s market to buy local produce, meat, and eggs. You can make even more money by inviting customers to visit your property and see how clean and efficient your operation is.

Make sure you understand your local laws for selling food to consumers. You might need certain permits, insurance, etc.

Shopping and Selling Stuff

You can also make money by shopping and selling in-person and online. You’d be surprised how many things you can sell to others without even thinking about it. Many are cleaning up their homes, listing their stuff online, and earning cash in just a few hours.

If you’re more of a shopping fan, then you can not only earn money when you shop, but you can earn money and shop for other people at the same time. You’ll be the ultimate shopping entrepreneur when you make money while spending other people’s money they asked you to spend!

Declutter Your House

An easy way to make a little extra cash is to sell your own belongings on Craigslist, Amazon, eBay, or by hosting a garage sale. You might be surprised how much quick cash you can make in a weekend and have a cleaner house in the process.

Flip Garage Sale Finds

Visiting local garage sales and browsing the free section on Craigslist can help you find some real treasures that you can turn around and sell for more money and pocket the profit. Some items might need some simple repairs, but, this can be well worth your time.

Learn more on how to flip flea market goods for profit.

Shop at Thrift Stores

In addition to visiting your local garage sales on the weekends, you can also have success visiting your local thrift stores and clearance centers for some good deals. These items can be sold on Craigslist or online marketplaces like Amazon and eBay.

Become a Shopping Assistant

People will pay you to run their errands and do their shopping for them. You might be hired to go grocery shopping, buy Christmas gifts, or take their clothes to the dry cleaner. It’s not every day you can get paid to shop.

Mystery Shop

Research companies will pay you to dine at restaurants, shop at stores, or even stay at hotels. All you need to do is review the company and of course not tell anybody you are a mystery shopper. Make sure to find the quality mystery shopping companies to avoid the spam and fraud. The MSPA provides qualified companies.

Shop with Ebates

Another easy way to make money by shopping is using a cash back portal like Ebates. You can get 1% to 40% of every online purchase back. Before you buy anything online, make sure you use a cash back portal.

Shop with a Credit Card

Using a rewards credit card when you shop, can give you cash back or travel rewards points on every purchase. You can get additional rewards when you use a shopping portal like Ebates.

You just have to know how to properly use credit cards to enjoy the rewards. This is not for people who are prone to debt.

Sell Unused Gift Cards

If you receive gift cards for Christmas or your birthday that you never plan to use, sell them on a gift card resale site like Raise to get paid in cold hard cash instead of letting them continue to collect dust.

Check out our guide on places to sell your giftcards to make more money!

Sell on Amazon

If you have shopped on Amazon, no doubt you have seen third-party listings that might be cheaper than buying directly from Amazon. You too can make money selling on Amazon by selling anything from used books, electronics, or cosmetics.

There are a few different options for selling on Amazon. You can sell directly from your house that you ship when sold. Or, you can send the products you want to sell to a Fulfilled by Amazon warehouse and they will ship it when an item sells.

Here’s a great course to show you how from someone who makes over $20,000 per month selling on Amazon.

Sell on eBay

You can also try selling on eBay to reach a second online audience. You might also like eBay if you want to sell your products by auction or also with a local pickup option for bulkier items.

Here’s a guide on how to get started selling on Ebay.

Rent Textbooks

You might have sold your textbooks each college semester. Now, you can make money renting textbooks online. Students like this option because it’s cheaper than buying a used textbook. As the textbook owner, your earning potential can be higher if you can rent the same book out for several semesters.

Sell Textbooks

Instead of selling your textbooks back to the place you bought them, why not sell them to someone else who would most likely pay more for the book? Book buyback programs are notoriously cheap. They don’t pay nearly enough for the book compared to what you paid for it.

You can list your books for free on Craigslist to see if there are any takers. You could find a forum for your school as well and list them on there. If not, check out Chegg which tends to pay a little more than most book buyback programs.

Gig Walking

This is an innovative way to earn extra money doing things you already enjoy created by GigWalk. This app allows you to pick up “gigs” from brands that want you to make a purchase, try something in the store, or take pictures of something. They describe what they need/want and you get to see if you want to do it.

It’s an easy way to make money while on the way home or shopping where you might already be.

Odd Ways to Make Money

There are also a few side income ideas you have possibly never thought of or maybe you didn’t realize people did such things for money. I’m sure there are a lot more ways to earn money outside of this odd list, but these are some of the ones you can start quickly. I’ve even heard of some people offering cuddling services for at least $100 per hour.

My favorite on this list is getting paid to be a friend for about $50 per hour. Accompany someone and you’re paid to be their “friend.” Interesting!

Donate Plasma

While many plasma donation centers are located near college campuses, since cash-strapped college students are the primary donators, anybody can donate. You can make anywhere from $20 to $50 per week and can donate twice weekly.

Participate in Clinical Studies

You can also make money as a “medical guinea pig.” Ask your local hospital or university if they have any paid medical studies currently accepting volunteers. You might have to meet specific criteria like having a sleep disorder or being a smoker depending on the study focus.

Rent a Friend

You can get paid to be a friend for up to $50 an hour. There is no dating involved, and this side hustle is only for an opportunity to hang out with somebody.

Advertise on Your Car

You can be paid to advertise for a company by wrapping your car. This unconventional form of advertising can pay enough to cover your monthly vehicle expenses like gas and insurance.

Advertise on Your Body

You can also get paid to lease your body by wearing temporary tattoos or sponsored clothing.

Sell Your Hair

If you have at least 10 inches of untreated hair, you can get paid up to $1000 on an online hair classified site. Not a bad return on investment for a few years of letting your hair grow out.

Flip Signs

One of the latest marketing crazes is hiring sign flippers to attract the attention of passersby. If you like being outdoors and interacting with the public, this can be fun.

Virtual Jury Member

Attorneys will simulate cases online and practice their prosecution and defense before they go in front of an actual court of law. Ejury allows you to be paid to be a virtual jury member and make a verdict, share opinions on case topics, and participate in focus groups.

Get Paid to Take Selfies

Several apps will also pay you to take selfies at places you visit and living your normal life.

Help People Find Jobs

Jobspottr will pay you to take pictures of “Help Wanted” signs across town. You earn bonus points for finding handmade signs that can be a little more difficult to spot.

Summary About Making Extra Money

The options to earn a side income are limitless, and most of these activities have low barriers of entry. You’re only help back by your creativity, will power, drive, and determination. It ultimately boils down to how much time you can commit and what your skills and interests are. Do you know how much money you can make when you just turn off the TV? Well, here’s a little answer.

Finding a way to make money by doing the activities you enjoy can be a win-win for you and the people you interact with. There are also many options for those who don’t want to interact with people and would rather complete work at their home.

What’s your favorite side hustle idea?

The post 101 Side Hustle Ideas to Make Money and Pay Off Debt in 2023 appeared first on Wealth Bytes, the content owner.

With the holidays getting closer, it’s time to start a budget for the gifts you plan to give. No matter if you have kids, significant other, family, friends, etc., you should be planning on how much you want to spend and how you will earn that money.

There is no point in going into debt for the holidays. While it’s a common practice to put everything on a credit card, you need to have the ability to pay off that balance when it comes due. Don’t be one of those where it takes years to pay off your holiday spending spree!

If you are looking for creative ways to earn some extra cash before the holidays, we have a list that can get you started as early as today earning real money you can spend on holiday gifts.

Most people focus on what they are going to buy, but not so much on how they are going to pay for it. Did you know credit card debt increases during the holiday season? It shouldn’t be a surprise really, but it also doesn’t have to be the norm. If you’d just save up some money over the course of a year, then Christmas shopping would be so much painless.

For this holiday season, you still have time to go out and earn some extra money to pay for the gifts you want to purchase. Why not stay out of credit card debt and just pay with the money you worked your butt off for? Let’s start hustling and make that money. Here are 17 ways to earn extra money before Christmas!

OK, here are 17 ways below, but how about over 100 ways to earn extra money? Not all of these can be done before Christmas, but you can put together a list of the ones that fit in your wheelhouse. Good luck!

Use Your Assets

Many of us have cars already, but that doesn’t mean we are using them each and every day. Did you know you can make money both using you car to drive people around, but also renting it out? Heck, Amazon is considering paying people to deliver packages with their cars. Don’t forget about your biggest asset either. People are making money with their homes more than ever before. Go make money!!

Rent Your Car – Use a service like Turo to rent out your car when your not using it. Their average members bring in an extra $200 a month just by renting out their car. That’s awesome!

Drive People – You’ve probably heard of or used Uber and/or Lyft. These two services allow you to become a driver and get paid for it. Pick people up, take them to a location, and get paid. They make it super easy and there are a lot of people earning good money. Check out The Rideshare Guy for more information.

Instacart – Do you mind shopping for goods or going to the grocery store? Then check out Instacart to be a shopper and deliver goods to people. Just like a personal shopper, this service helps you get jobs quicker. You only need to take on jobs you can do. How much you earn is up to you.

Airbnb – Have you ever stayed in an Airbnb location when traveling? It’s not a bad way to stay. If you have a home (or even an extra room) that you won’t be in for a weekend, then think about listing it for rent on Airbnb. This is a great service, which is extremely popular. I know a few people who pay their mortgage every month by renting out a room or their house a few times each month. Nice!

Take on One-time Jobs

If you only have time to take on one task here and there, that is OK, here are some ways to bring in extra money by using the time you do have to provide some type of service. There is no commitment to any of these money making methods, so the earning potential is completely up to you.

Test Websites – Oh yes, you can test websites. I’ve written about this before and people really think it’s cool. You can use the site, usertesting.com to find opportunities. You really can get started with this in one day and start making money.

TaskRabbit – Depending on where you live, you might have access to this service. It allows you to jump online and perform tasks for people when they need it. There are a number of tasks you can do, but they are all relatively easy. You might need to pick up something at the store, go find something for someone, and a number of other tasks. You can quickly become someone on TaskRabbit that people trust. Check out TaskRabbit to see if it will work for you.

Swagbucks – How often do you search the web and look through emails? Why not earn something for it in the process? That’s what Swagbucks is all about. You can search the web, earn points, and then cash those in for gifts cards and other “swag” depending on your needs. They even have Amazon gift cards!! Start earning on Swagbucks now.

Amazon Mechanical Turk – Much like other sites, Amazon  has it’s own task oriented service, but this is all for online service. You can apply for a “HIT” as they call them and get the task done and then get paid. They aren’t the biggest payouts, but if you have some free time, you can complete quite a few. Check out my detailed review.

Craigslist Gigs – Did you know Craigslist has a gigs section on their website? These are simple tasks or one-time needs from people in your area. You never know what you might find, but you can help someone move and earn money today. That’s the beauty of Craigslist, most people pay with cash (that’s what you want), so you can have money in your pocket today. This is probably the fastest ways to get paid.

Walk Dogs – If you like dogs and need some exercise, why not walk dogs and make some money? A great way is through Rover.com. This app and service connects you with someone who can walk dogs and take care of your pets when you need them. It’s a great way to make a little extra money on the side too. Getting exercise and getting paid, what a combination! My sister started on this platform and it has become her full time job now. It can be lucrative walking/boarding dogs.

Mystery Shopping – Having been a mystery shopper in college, I know you can earn money doing this. The big problem is there are so many scams out there about mystery shopping. Never pay any one for access to mystery shopping jobs. That’s a sign of a scam. In college, I would do a few shops a day and earn about $50. It was good money and really easy. Here is a rundown on how to make money mystery shopping.

Become a Freelancer

Freelance Writing – I used to make good money as a freelance writer. While I don’t write for other sites often anymore, it’s a nice little pick me up when I need extra cash. You still can make money before Christmas with this method. You might think I’m crazy, but this course will teach you how to make money in 30 days. Seriously, you can be making money by the end of the 30 day course and the investment is worth it. I talk more about how here. You can also check out this course which is from someone who makes over $200,000 per year freelance writing.

Virtual Assistant – Do you like helping people out with their tasks? Well, being a virtual assistant might be for you. You can also make money with this form of work. People are always looking for help with their email, putting up content, and a myriad of other tasks. The best part is you can do it all from the comfort of your home (or coffee shop if you’re so inclined 🙂 ).

Web Design – I’ve been building websites for a number of years. While it’s not my main business, I do make money from this type of venture. If you’re good with websites and design, then this might be a good idea for you. So many people need good websites, so jump on in!

Blog Creator – What is a blog creator? Just ask me! I offer this type of service as part of my business. I help new bloggers install and setup their blogs to get them started. I even offer blog coaching from a technical aspect to help a new blogger get started. This can be a really good thing if you’re familiar with WordPress or the other blogging platforms.

Fiverr – Have you heard of Fiverr before? If not, it’s basically a service where people offer something for $5. You can write an article for $5, shoot a quick video for $5, create a logo, and so much more. Prices start out at $5, but once you have a few sales, you can start charging for add-ons, which allow you to push your  prices and earnings higher.

Freelance Service Sites – If you have a skill, get your service in the front of many. That’s what services like Freelancer and Upwork. You can jump on these sites, create a profile of your service, and then start bidding on projects. It can be daunting since you’re competing against people all over the world, but it can be done. I actually have hired quite a few freelancers on Upwork with good success.

So, there you have it. There are 17 ways to earn extra money starting right now. Some will take longer than others, but you have enough time to make extra money before Christmas. If you can’t make it work, at least hustle with one of these long enough to pay off your credit cards after you rack them up with holiday spending. There are so many ways you can make extra money, it’s not even funny. Don’t think you can’t do it because everyone can.

Get out there, find something you like, and earn money doing it. It’s what we are supposed to do. Don’t just sit back watching those around you hustling for more cash, strap on those boots and make that money!!

Bonus Money Maker: Here is an extra way to make money while you just sit around. You can earn by filling out surveys. It won’t be game-changing money, but you can do it pretty quickly. We recommend Survey Junkie as one of the best (and legitimate) survey sites out there.

The post Easy Ways to Make Extra Cash Before Christmas appeared first on Wealth Bytes, the content owner.

The new year is here and I’m sure you’re ready to get started on your resolutions. Typically people are focusing on their weight, especially after two holidays of eating good food. I know I could lose a few pounds after this holiday break. More importantly, some are focusing their goals on their finances and I applaud those people. A new year is a great time to look over your finances and see where you can improve. You might even start a nice budget to rock this new year!

If you’re in debt, this could be the year you get out of it. You might not be able to pay it all off, but set a goal to pay off 10%, 20%, or more. Do what is reasonable for you and your situation, but create a goal to kill your debt in the new year.

If you’re on a savings kick (like me), then see what you can do in order to save more this upcoming year. I’ve always had a goal to get to 50% saving rate, but I’m not sure how I’m going to get there. No matter what, saving money is extremely important. It’s hard to survive if you’re not saving any money. Trust me, I used to be in over $75,000 of debt and I didn’t save a dime. Luckily I paid it off and saved over time. I’m now a saver who loves it. Join the club this year!

Ever since I started this blog, I gathered some of the best personal finance bloggers together at the end of the year to share some awesome personal finance tips with you. Some have been in debt. Others invest like champions, and some grow their wealth like the best of them. I followed many of these bloggers when I was in debt and looking for tips to get out.

Today, I’m sharing 39 tips from other personal finance bloggers to help you get in the right mindset for the new year. These tips will revolve around a few topics I hold near and dear. We will focus on credit, debt, investing, making money, saving money, and wealth management. There are some tips which don’t fit in these categories, so I also created an “other” category as the tips are great and can help you.

My Financial Tip

Before we get to the other tips, I wanted to share my own, which is actually from my father. When I quit my job earlier this year to run my WordPress support company and this blog, this is what he told me to get me to take the leap.

You can either be an entrepreneur or you can work for one

That little phrase was powerful and got right to the point. My father was the one who said it to me in hopes to push me over the fence when I couldn’t do it myself. It helped me understand that I could do this. The people we work for all started their businesses, so why can’t I? Yes, it’s scary, but it can also be very worth it. If you’re on the fence in the upcoming year about going out on your own, I hope this little tip helps you get onto the side of the fence which benefits you.  Do you want to own your business or do you just want to work for someone? Answer this question before you take the leap. Trust me, it helps!

Credit | Debt | Investing | Making Money | Saving Money | Wealth Management | Other

One thing I’ve learned over the years is how important credit can be to your finances. While some thing having a good credit score and report is only applicable when buying something, that is no longer the case. Landlords can look at your credit, so can potential employers. You might not be able to get a cell phone contract and much more with poor credit. Yes, having a good credit score is very helpful in the long run. If you need to get a loan, having a good score will ensure you pay the cheapest rate over time. You can get low rates on car loans, home loans, and much more.
Related: Get your free credit score with Credit Sesame
Your credit score/report is very important and something you should follow. Beyond your credit profile, these tips will talk about credit cards. Yes, I used to have credit card debt, but I use my credit cards for every purchase. I pay them off each month and enjoy the rewards. I’ve traveled for free with credit cards. It works, but only if you’re responsible!
Lee Huffman of Bald Thoughts said:

Take advantage of all the benefits your credit cards have to offer. There are often great perks which make it easier to earn miles and points faster so you can travel better, more often.

Read more on Bald Thoughts

Follow Lee on Twitter | Facebook | Pinterest

Jim Wang of Wallet Hacks said:

Remember to check your credit reports every year. Ideally, stagger your checks at each of the three bureaus so you get a snapshot throughout the year. I call it the Waterfall Method and I check my Experian credit report in January, my Equifax sometime in May, and my TransUnion report around October.

Read more on Wallet Hacks

Follow Jim on Twitter | Facebook | Pinterest

As noted, I clawed my way out of $75,000 of debt. There was more than $50,000 of credit card debt alone, so when I talk about debt, it’s very personal. I know what it’s like to be in debt and how i affects you emotionally. Trust me, debt sucks the big one!

If you’re looking to fight debt, please check out some of the articles I have around the topic. These can help you understand more about your situation and how you react to debt. Don’t be like me and turn a blind eye to it. It only makes the problem worse. I only woke up after I realized my minimum monthly payments were as much as my mortgage. That was eye opening for me. It hurt, but it was the wake up call I needed to make a change. Hopefully one of these tips can be your wake up call.

Joseph of Peer Finance 101 said:

Don’t wait to be debt-free before you start investing for your future. Pay off your high-interest debt but start putting a little away for retirement as soon as possible. Your contributions to retirement accounts are tax-deductible so worth more than you may think, especially if you start early.

Read more on Peer Finance 101

Follow Joseph on Twitter | Facebook | Pinterest

Jeffrey Trull of Student Loan Hero said:

Paying off your student loans early has many benefits, including saving money and being able to focus on other financial goals. But simply making extra payments isn’t the only strategy you can use to pay off student loans faster. Here are 14 different strategies, which I’ve rated on how effective each are. Pick and choose which work for you, and watch your student loan debt disappear!

Read more on Student Loan Hero

Follow Jeffrey on Twitter | Facebook

Brian Brandow of Debt Discipline said:

I think the biggest challenge people face when trying to get out of debt is the mental piece. You have to prepare yourself mentally and emotionally for the change in your money behavior and habits to be successful. Once you get over that hurdle figuring out the math is easy, most of personal finance is common sense. Focus on a goal, a “why” for making the change and it will become easier to make the short term sacrifice for the long term goal of being debt free.

Read more on Debt Discipline

Follow Brian on Twitter | Facebook | Pinterest

Jackie Beck of The Debt Myth said:

If you want to get out of debt, the #1 thing you can do is to stop borrowing. That sounds a little captain obvious, but it’s a critical step that so many people miss, and it was key to us paying off over $147,000 in debt.

Read more on The Debt Myth

Follow Jackie on Twitter | Facebook | Pinterest

Natalie Bacon of Financegirl said:

If you are in student loan debt, commit to getting out of debt as fast as possible. Create a plan — in writing — where you pay off your student loans. Saving and investing won’t solve your financial problems if you’re in debt. Make debt repayment your priority.

Read more on Financegirl

Follow Natalie on Twitter | Facebook | Pinterest

Candice Marie of Young Yet Wise said:

If your debt isn’t moving it could be because you’re only paying the minimum amount. When you only pay the minimum amount it’s hard to see any progress. You could also have too many money goals that you’re trying to accomplish at once. So you’re trying to put a few drops of water over 7 different buckets instead of pouring a whole gallon of water over 1-2 buckets at a time.

Read more on Young Yet Wise

Follow Candice on Twitter | Facebook | Pinterest

Jason Butler of My Money Chronicles said:

If you have a lot of debt please make a payment even if it is small. Every payment counts. In time they add up. Your debt will eventually get smaller.

Follow Jason on Twitter | Facebook

For years, I only invested in my 401(k) through my employer. I didn’t know much about investing and didn’t focus on it until I was out of debt. That was a huge mistake. I missed out on some good returns during the 4 years it took to pay off my debt. I’m still kicking myself to this day. It wasn’t until I got a Betterment account when I started to take investing a little more seriously. Now, I have a Betterment account, and a few accounts at other online brokerages.

Investing can be scary for some who don’t understand it, but it’s basically using the power of compound interest to your advantage. Yes, you can lose money when you invest, but the market has a good, positive return on average over the last 30 years. Focus on the long term and don’t get flustered with short term dips. Also, never put all your eggs in one basket.

Hopefully, these investing tips will help you make the decision to start investing for yourself in the new year. It’s a great time to start and you can do it with less than $250!

Julie Rains of Investing to Thrive said:

Learn how to use financial functions of spreadsheets — so you can do your own calculations instead of relying on other people to figure stuff out for you. Start small, learning how to calculate your monthly payment on a loan and then move to projecting the future value of your retirement account contributions.

Read more on Investing to Thrive

Follow Julie on Twitter | Pinterest

Joseph Hogue of Peer Finance 101 said:

Don’t try to ‘beat’ the stock market by playing the trading game. Trading in and out of stocks will only lose your money in fees and taxes. Playing the amateurs’ game and avoid making the big mistakes will put you ahead of the average investor every year.

Read more on Peer Finance 101

Follow Joseph on Twitter | Facebook | Pinterest

Doug Nordman of The Military Guide said:

I hate to have to say this, but fewer than half of the servicemembers in the U.S. military have even signed up for a Thrift Savings Plan account (the military version of a 401(k))– let alone contributed to it.
An awesome personal finance tip for more than half of the military would be:
Sign up for the TSP and contribute to the L2050 fund! After your service, you can still access the funds penalty-free with a little advance planning.

Read more on The Military Guide

Follow Doug on Twitter | Facebook | Pinterest

Rachel Hernandez of Adventures in Mobile Homes said:

When it comes to real estate investing, you make money when you buy—not when you sell.

Follow Rachel on Twitter | Facebook | Pinterest

Those who read this blog know that I quit my job this year. I had a good job for almost nine years and I got up and left it. Why? I wanted to focus on something I built and this blog and my service business were came out of me wanting to make more money. I’m a huge fan of earning more money with side hustles and building something for yourself.

While it was scary to quit my job after so long, it was time for me to move on and try my hand at entrepreneurship. While owning a business is not for everyone, that doesn’t mean you can’t work on the side to earn more and pad your existing income. Making money can change your life as it certainly has mine. I started out small, but then tried more and more things to earn more. Yes, you can try to get a raise, but those increases are finite. I want ways to make more that have no ceiling. That’s what I like to do!

Take some time to read over our great articles on making more money. You can start earning in just one weekend. The amount you make is up to how much effort you put in. If you want to make money with blogging (like I do), then head over to my very detailed “how to start a blog” guide and get to it!

Remember, you can either be an entrepreneur or you can work for one!

Kate Dore of Cashville Skyline said:

Not expecting a raise in the New Year? Maybe it’s time to consider picking up a side hustle. There are countless ways to earn extra money from the comfort of your home. And your side hustle may even turn into a new full-time career!

Read more on Cashville Skyline

Follow Kate on Twitter | Facebook | Pinterest

Kylie Travers of The Thrifty Issue said:

Stop with the excuses. Anyone can make extra money. Don’t focus on what you lack, instead look at all the ways you can make extra money either from home, doing what you already do or in odd hours. Life isn’t so 9 – 5 anymore. Find a need and fill it!

Read more on The Thrifty Issue

Follow Kylie on Twitter | Facebook | Pinterest

Tai Stewart of Saidia Financial said:

Mystery shopping is a great way to not only make a little extra money on the side, but get services that you use regularly for FREE! Oil changes, lunches, dinners, banking services and more can be paid for through mystery shopping, and you can also receive income from it.

Read more on Saidia Financial

Follow Tai on Twitter | Facebook | Pinterest

Stefanie O’Connell of Stefanie O’Connell.com said:

Increase your income. You can only save so much, but your earning potential is UNLIMITED!

Read more on Stefanie O’Connell.com

Follow Stefanie on Twitter | Facebook | Pinterest

Louis DeNicola of Saveful said:

Don’t worry if more money than you expect is withheld from your bonus, it isn’t taxed any more than your standard pay. Special withholding rules might mean you don’t receive as much of the bonus as you’d like right away, but you’ll get what’s owed to you when you file your tax return.

Read more on Saveful

Follow Louis on Twitter | Facebook | Pinterest

Zina Kumok of Debt Free After Three said:

Saving and investing is great, but creating passive forms of income is an important – and underutilized – tool. This year I’ve started to think about ways to make money passively, which too few people consider a possibility. Whether it’s launching a product or buying a rental property, find some way to incorporate passive income in your life.

Follow Zina on Twitter | Facebook | Pinterest

Who doesn’t want to save more money this new year? I know I do. I love seeing money flowing into my saving and investment accounts. It’s a great feeling considering back in 2012, the money was still flowing out of my accounts into the banks hands for my credit card repayments.

I’m a saving addict and I think it’s a good thing. No, I’m not a cheapskate, but I do appreciate how I use my money more than I ever have before. Ever since I’ve jumped into blogging, I’ve learned about saving methods like using a savings bucket system. That was cool, but what changed my savings was when I found Digit. This is a free service that will save for you based on your spending habits. It’s awesome and I recommend it to anyone who wants to save more, but aren’t sure how. Try it out, it’s free!

Saving money isn’t just about putting money in your bank account, but also finding ways to reduce your expenses. I’ve switched away from Verizon in order to save. I cancelled cable years ago and haven’t looked back. These are simple things you can do in order to save money. Look over some of our articles on more ways to save money each and every day. You might be stunned on how much you’re leaving on the table!

Aaron Crowe of Add Vodka said:

Start college savings fund for child at birth. Contributing automatically each month is the easiest way to amass enough money to help your child to go to college.

Read more on Add Vodka

Follow Aaron on Twitter | Facebook

Jacob Wade of I Heart Budgets said:

Clothing too expensive?

Solution: Plan a “Clothing Swap”. Invite your friends over to bring in clothes they want to get rid of. All clothes are setup in the home like a clothing store, and for every item you donate, you can pick out an item to bring home. Get everyone together to “shop” the clothes they want. Free wardrobe update for everyone. Do this every 6 months to keep your style fresh.

Read more on I Heart Budgets

Follow Jacob on Twitter | Facebook | Pinterest

Kate Horrell of KateHorrell.com said:

Look into vision insurance if you wear glasses or contacts. I just purchased vision insurance for my family and it saved me $400.

Read more on KateHorrell.com

Follow Kate on Twitter | Facebook | Pinterest

Lance Cothern of Money Manifesto said:

My favorite way to save money is to do so in a way that saves me money every month. Personally, that meant switching our cell phone providers from a big name to a discount provider. We chose Republic Wireless, but there are many options out there depending on your needs. Most will save you a decent amount of money every month over the big four major cell phone companies, some up to hundreds of dollars per year.

Read more on Money Manifesto

Follow Lance on Twitter | Facebook | Pinterest

Aja McClanahan of Principles of Increase said:

64% of American’s don’t have $1,000 for an emergency. I would say that your first order of business should be saving. Don’t just save money, develop a habit of what I call “aggressive saving.” Learn to make saving second nature and watch your financial situation change for the better!

Read more on Principles of Increase

Follow Aja on Twitter | Facebook | Pinterest

Elizabeth Colegrove of Reluctant Landlord said:

Make your every day housing expenses a side hustle. 1) Rent out your spare rooms. 2) Rent out you house instead of selling it when you transfer or trade up. 3) By a multi-plex live in one unit and rent out the others. 4) By house with a in law suite and rent it out. 5) Turn any of the units from a standard rental into a vacation or executive rental.

Read more on Reluctant Landlord

Follow Elizabeth on Twitter | Facebook | Pinterest

Jackie Cummings Koski of Money Letters said:

Shop around for the best prices on RX medications. This has become a very competitive market in the past year or so. Don’t assume that using the prescription plan with your health insurance is always the cheapest. Use generics, use coupons (I’ve seen some as much as $25 in savings) and take advantage of free medications when possible. Grocery stores Meijer (Midwest) and Publix (Southeast) both offer free antibiotics.

Follow Jackie on Twitter

Le’Chester Williams of Investing Dollars and Cents said:

Find ways to make your money work more for you. To cut down on entertainment costs I join organizations at nominal costs usually under $100 that provide me with hundreds of dollars worth of entertainment for the year. Choose not to pay for access to your money, by finding a bank or credit union with atm reimbursements and interest payments. Also if you are able to delay the gratification of making purchases you can invest your funds and pay for things with your earnings.

Follow Le’Chester on Twitter | Facebook

This is definitely an area where I need to do better and I’m going to use the new year to set up goals to do better here. Wealth management is so important and encompasses more than just money. It includes all of your assets as well.

If you’re not sure how to handle your wealth, then it might be good to check out a financial advisor to assist you. Look at the XY Planning Network to find a fee-only advisor to help. I’d also suggest you set up a free Personal Capital account in order to get a bigger picture of your money and financial situation. I’m a huge fan and started using Personal Capital years ago. It’s my go-to tool when looking over all of my finances and seeing how my wealth is doing. The best part is it’s completely free to use.

Look over these tips and start working on your overall wealth management as I plan to do in the new year! Let’s do this together.

Valerie Rind of ValerieRind.com said:

Sign a will and other end-of-life documents. Don’t leave your grieving family with a financial mess to clean up if you die intestate (without a will).

Read more on ValerieRind.com

Follow Valerie on Twitter | Facebook

Christine Odle of Rockin Beeby said:

Anytime you have the opportunity to physically swipe a plastic card, switch to paper money! This reduces over spending dramatically. Long term you will save more money for the rest of your life.

Read more on Rockin Beeby

Follow Christine on Twitter | Facebook

Aaron Hatch, CFP® of Woven Capital said:

Stock picking might be exciting, but the line between exciting and scary is very narrow. There’s a huge downside if today’s hot stock turns out to be tomorrow’s bad buy. For a sound financial future, keep investments a little boring — in other words invest in a well diversified portfolio of low-cost investments.

Read more on Woven Capital

Follow Aaron on Twitter | Facebook

Cliff Pendell of JRC Insurance Group said:

Layering life insurance coverage can save you thousands of dollars. For example, let’s say you have a $600,000 mortgage for 30 years. Your mortgage balance will decrease overtime, decreasing the amount of life insurance you need as you get older. To save money, you can purchase two $300,000 policies for 20 and 30 years and your mortgage will still be protected.

Read more on JRC Insurance Group

Follow Cliff on Facebook

Natalie Bacon of Financegirl said:

Before you can build wealth and create the financial freedom you want for yourself, you need to get on a written financial plan. Set financial goals and commit to a specific financial plan whereby you track your progress over time. Without a written plan, it will be very hard to achieve financial success.

Follow Natalie on Twitter | Facebook | Pinterest

Not every financial tip I got fit into the the categories above, but instead of just dropping them, I wanted to place them in an encompassing “other” category. These aren’t specific to the other categories, but they are still important for you to read over. There is even a great tip in there about not loaning your parents money. It’s quick and painless, but makes a good point. Unless you’re very careful, loaning money to family members can get nasty really quick!

Hui-chin Chen of Money Matters for Globetrotters said:

If you have scouted all the great personal finance tips year after year, but never really were able to implement any of them and turn you life around, you should know that you don’t need more information. What you need is a coach that can knows what tips work on you and keep you accountable.

Read more on Money Matters for Globetrotters

Follow Hui-chin on Twitter

Valerie Rind of ValerieRind.com said:

Don’t loan money to your parents.

Read more on ValerieRind.com

Follow Valerie on Twitter | Facebook

Thomas Nitzsche of Clear Point Credit Counseling said:

When facing a major home repair, understand and exhaust all your options – especially if you have poor credit or a tight budget. This can include non-loan options such as grant and IDA programs as well as financing options like credit unions and peer lending.

Read more on Clear Point Credit Counseling

Follow Thomas on Twitter | Facebook | Pinterest

Chris Huntley of Huntley Wealth said:

While just about every personal finance expert in the U.S. agrees you should avoid whole life insurance and buy term instead (and invest the difference), a staggering 66% of all individual insurance policies purchased per year are whole life. The problem with whole life, from a consumer’s perspective, is it’s confusing. It has two benefits, life insurance and supplemental retirement income, which makes it difficult for consumers to separate the benefits to see if they are getting a “good deal” on both. Therefore, if you’re shopping for life insurance and being pitched whole life (or currently have a whole life policy), compare the cost to a 20 or 30 year term policy, and discuss your decision with a financial planner, rather than just your insurance agent.

Read more on Huntley Wealth

Follow Chris on Twitter | Facebook | Pinterest

Jason Dana of Term Life Advice said:

When shopping for life insurance, beware of only getting quotes from captive agents (agents who work exclusively for one insurance carrier such as State Farm or New York Life agents). An experienced, independent life insurance agent can literally save an insured hundreds or thousands per year, since they are able to “shop the market” to get you the best deal.

Valerie Rind of ValerieRind.com said:

Forget about New Year’s Resolutions to pay off debt or invest more or stick to a budget. It’s too overwhelming and you’re likely setting yourself up for failure. Instead, focus on one small thing you can do in January 2016 to improve your finances.

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The post 39 of the Best Financial Tips to Start the New Year in 2023 appeared first on Wealth Bytes, the content owner.

If you are even halfway serious about trying to get out of debt or simply want to spend $100 less a month, one of the first steps you need to take is monitoring your monthly spending. Before you think that the only way to track how much you spend is to pay for a monthly app– so you go further into debt before getting out of debt– think again! There several options available that help you monitor your finances for free.

Pen and Paper

The “old-fashioned” way might be the best way to track your spending. All you need is a piece of paper and your favorite pen or pencil. At the end of each day, write down every purchase you made from the $1 coffee on the drive to work to the $100 electric bill you pay once a month.

After tracking your spending for 30 days, you should have an accurate estimate on how much you spend in a regular month. Take a few minutes to categorize your spending so you know how much you will spend for your utilities, cell phone, cable tv, savings, and dining. You might even catch yourself asking, “We spend that much?”

DIY Spreadsheets

If you want to upgrade to the 21st century, you can also make a free spreadsheet with Google Sheets or Microsoft Excel. Both programs also offer premade templates that are free to use and are already built to track your spending. All you must do is choose the style you like best.

Google Sheets might be the better option for making your own spreadsheet because it’s free, and you can update date with any device that has an internet connection. Microsoft Excel has more capabilities but, you must have Microsoft Office installed to use Excel which can cost $70 a year to install on one device.

Personal Capital

Personal Capital is probably the most user-friendly app when it comes to tracking your spending and calculating your net worth. In a matter of seconds, you can connect your bank and investment accounts. You can also manually input information including the value of your house, cars, and any cash spending you do on a monthly basis.

After linking your accounts, Personal Capital will track your spending and income in real-time. They present all their information in easy-to-read graphs, will send email weekly spending reports, and, you can even create savings goals to calculate how much money you need to set aside every month to accomplish your financial dreams.

Another reason I like Personal Capital is that they don’t make their money from credit card, bank account, or loan applications. Yes, you can pay Personal Capital to invest for retirement, but, this service is optional and their financial monitoring tools are completely free!

Mint

Another popular free financial program is Mint. It’s produced by Intuit, the developers of the premium Quicken budgeting software. If you want to use a program that can also double as a tool to make a monthly budget because you don’t even know where to cut your spending (even if you already track your spending), Mint is probably your best option. Also, you can use Mint for free monthly bill pay.

To use Mint, the app must be able to connect to your bank account or investment account. You cannot manually input any information as you can with Personal Capital.

Exact

Exact Finance is a brand-new free money management tool that will be launching in the very near future. You can expect Exact to be a mixture between Personal Capital and Mint in terms of capability. Your transactions from your linked financial accounts will upload to Exact and you will be able to access reports that track your spending and saving history.

The real value in Exact can be the ability to project your future spending and saving trends. If you want to get out of debt and want a plan, Exact makes it possible to exactly predict how soon you will repay a specific loan (or all your loans) based on your current financial habits. Exact also lets you enter hypothetical variables to see how an increased savings rate or salary increase, as two examples, can affect your debt payoff plans.

Wally

Wally is a 100% mobile-based app and is only accessible through your iOS or Android cell phone or tablet. Since more households are increasingly ditching their desktops and laptops, the mobile device requirement might not be a restriction. Here are four reasons you might choose Wally:

• Compare your income to expenses
• Create spending and savings goals
• Snap pictures of receipts to remember “why” you made a purchase
• No in-app advertisements

Wally is potentially the most comprehensive app available if you want the “complete picture” of how you spend your money. The ability to take pictures of your receipts is also a nice touch as we have all had to scratch our head from time-to-time after looking at our credit card or debit card statement a month later and trying to remember what we purchased.

YNAB

One of the best paid budgeting programs is You Need A Budget (YNAB), and, it’s free for college students. You read that right! Students can enjoy YNAB for free for their first 12 months. After that, they receive a one-time 10% coupon and then pay the regular subscription price ($50 annually) for subsequent years.

Even if you are not a student, you can get a full-access 34-day free trial to YNAB. This can be enough time to help you make some basic adjustments to your spending and to determine if you can monitor your finances with a free app or need the extra assistance of a premium program like YNAB. Even if you do decide to go with YNAB for even your first year and can gradually transition to a free app like Personal Capital once you get a handle on managing your money, that’s great too as you now have more control over your money.

Summary

To improve your financial quality of life, you might not know how to take the first step. Tracking your spending is an excellent starting place, and several excellent programs let you begin your journey to financial freedom FOR FREE! Since there are several free apps to choose from, you should have no problem finding one that makes improving your financial situation enjoyable and possible.

The post 7 Free Ways to Monitor Your Money appeared first on Wealth Bytes, the content owner.

Earning money as a teenager can be an exciting opportunity as you can work as much (or little) as you want. Since you still live at home, your teen years are an excellent opportunity to establish a micro-business that generates enough income to pay your monthly bills before you move out after graduation. Teen jobs are also a great way to explore potential career paths.

Flipping burgers or being a department store cashier are not the only two teen jobs available. These teen income ideas are proven income streams that can be more financially and emotionally rewarding. And, the best part is that you can pursue several of these income streams at the same time!

Swagbucks

Many “make money online” platforms require you to be at least 18 years old. Swagbucks accepts members as young as thirteen years of age. You earn points that can be redeemed for PayPal cash and gift cards by performing the following variety of tasks:

• Answer surveys
• Watch videos
• Play games
• Surf the web

New opportunities post every day. This allows you to earn money every single day of the week. Whether you only have five minutes or several hours of spare time, you can make money on Swagbucks.

Start a YouTube Channel

Whether you have a smartphone or a camera optimized for YouTube, vlogs are an up and coming phenomenon in the current internet age. You can create a channel on any topic from funny cat videos, beating a video game boss level, or testing new makeup products to make a few examples.

You can make money through advertisements and affiliate sponsorships. Advertising your channel on Instagram and Snapchat can help attract additional exposure.

Design Graphics on Fiverr

If you an eye for design, sell your services on Fiverr. All gigs start at $5, and you can charge more as you gain experience or offer more complex tasks. There are over 100 categories to choose from and some of the possibilities include graphic design, video and animation, music, and random tasks such as playing video games or performing pranks and stunts.

Sell Something Online

Your teen years are one of the best times to start an online micro-business. The possibilities are nearly endless as you can monetize your hobby. Whether it’s selling video games, books, handmade crafts, or clothing, you can turn a profit by creating your own e-commerce website, and by selling on Amazon or eBay.

If you need help starting a blog or how to sell online, you can check out Grayson’s free “How to Start a Blog guide” or consider taking an e-commerce course on Udemy as well.

Sell Fresh Produce

You can also make good money by growing produce that can sell at your local Farmer’s Market. Health-conscious consumers are always looking for locally sourced produced. If you can grow organic or low-spray produce you might be able to charge more per item to reward your hard work.

Depending on where you live, selling produce might only be a seasonal income stream. This flexibility helps make this hobby a great income stream during the summer when school is out.

Mow Lawns

If you enjoy being outdoors and have access to a mower and weedeater, mowing lawns can be another lucrative income stream. Whether you only mow lawns within your neighborhood or all over town, peoples’ lawns need to be mowed on a weekly basis which means a steady income during the spring and summer.

Pressure Wash Houses

In addition to mowing lawns, another outdoor-based activity is pressure washing houses in the spring and summer. Homeowners looking for a “fresh” look to complement their newly mulched flower beds will pay you so they can scratch a weekend project off the list.

You can advertise your services on Craigslist or the old-fashioned way of knocking on people’s front doors.

Babysit

Parents are always looking for a responsible babysitter to watch their children on date nights and other occasions during the evenings and weekends. During the summer, parents might also let you watch their children to save on daycare expenses. You can ask your family friends if they need a babysitter or you can visit Care.com.

Become a Pet Sitter

Household pets are just as lovable as children and also need to be cared for. You might check in on someone’s pet(s) while during the workday. Or, you can also pet sit while they go on vacation or a business trip.

Your responsibilities can include feeding the animal, play time, and putting them in their cage at night.

Walk Dogs

If you have the additional time, you can make additional money by walking dogs. Believe it or not, adults make over $100,000 just by being professional dog walkers. Who would have thought?

For pet sitting and dog walking, Rover.com is a great online resource in addition to asking your friends and family.

Recycle Cans and Bottles

For whatever reason, people discard their old aluminum cans and glass bottles along the roadside. Picking up litter not only removes an eyesore from the scenery; you can also make money recycling aluminum cans and, if your state charges a deposit, glass bottles.

You can also collect other types of scrap metal to earn additional cash. You might be surprised to find what people throw away and could be sold for a profit with a little effort.

Wash and Detail Cars

If your car is always sparkling clean, you can also make money washing and cleaning the vehicles of working professionals. You might even be able to do it in their own driveway meaning you don’t have to carry a vacuum or water hose with you to each location.

Be sure to invest in good cleaning solutions and brushes to ensure each vehicle shines.

Invest

It might only feel like you have $5 to your name, at the moment, but the money you invest as a teenager can be the most valuable investments you ever make.

Why? Because of time in the market to earn compound interest. This is a basic concept that many adults do not pay attention to. If they did, more people would retire as a millionaire through small, routine investments.

Your parents might have to create a custodial investment account until you turn 18. Even if you only invest $500, you will have more money in the market than most of your peers. Also, take the time as a teenager to read investing books so you will be prepared to make wise investing decisions in your 20s.

The Sky is the Limit When it Comes to Making Money as a Teen

There are many different possibilities to make money in your free time. It doesn’t matter if it’s online or in-person, you can make as much (or more) money than working a traditional retail or restaurant and learn skills that can benefit you for a lifetime.

The post 13 Ways Teens Can Make Extra Cash (Besides Flipping Burgers) appeared first on Wealth Bytes, the content owner.

You have finally reached the light at the end of the tunnel! It’s time to retire and enjoy the fruits of your labor. As you near retirement, there is another batch of money mistakes to avoid so you can afford to remain retired. By using your experience from your working years, you should be able to avoid these common money pitfalls.

Those in your 60s and near or in retirement have to be a little more careful than those who are younger. Money can’t be used so aggressively without consequences unless you’ve planned well in the younger years. Money mistakes are common when you get older, just as they are for those in their 20s, 3os, 40s, and 50s.

Let’s hope you’ve planned well enough to reach retirement with your savings intact and your wealth growing. If not, maybe we can help you with a solution to the common money mistakes that can happen in your 60s and during retirement.

Aggressive Investing

Pitfall: You invest like a 20-year-old with aggressive stock investments. One sharp downturn can erase years of investment gains you plan to live on soon.

In your final working years and retirement years, it is important to switch to a balanced investment strategy that holds no more than 60% stocks. As you near your 70s, you might even consider holding up to 70% of your investments in bonds and fixed income assets that are less volatile.

Solution: A general rule of thumb for determining your asset allocation is to subtract your current age from 120. That number is the percentage of stocks you should hold. For example, if you are 65, you would hold 55% stocks following the “120 rule.”

You can also speak with a financial advisor at Betterment or Personal Capital and they will automatically rebalance your asset allocation to match your age and risk tolerance too.

Miscalculating Monthly Expenses

Pitfall: Retirees do not realize their monthly expenses can rise in retirement as employee benefits cease.

When you are still working, your employer pays for a portion of your monthly health care premiums, life insurance, and other benefits. Your share of the healthcare premiums is pre-tax in addition to your 401k contributions and lower your taxable income.

After you retire, you can be hit with a double-whammy of very few tax deductions and increased insurance payments. And, you will also have to begin paying taxes on your tax-deferred 401k and IRA withdrawals.

Depending on your state of residence, your pension and Social Security benefits can also be taxed as regular income.

Solution: Your HR department might offer a retirement planning workshop that you can attend. Otherwise, it can be worth your time to use a retirement planner with Personal Capital or your brokerage.

Spending Too Much

Pitfall: Retirees go on a “spending spree” because they are used to being able to work to rebuild their bank account balance. In retirement, your primary income is passive income. Overspending can ultimately lead to outliving your retirement savings.

It can be easy to overspend if you plan on extensive traveling, currently live paycheck to paycheck, or have credit card debt. Retiring debt-free can also help reduce your monthly expenses in retirement.

You might also consider trimming your current monthly subscriptions by switching your cable plan to DirecTV Now or Sling TV. And, Trim can also analyze your spending and cancel subscriptions you no longer use.

Solution: To avoid burning through your retirement cash, you can adopt the 4% retirement rule. By only spending 4% of your retirement savings each year, studies have shown that many retirees will not outlive their retirement nest egg.

Drawing Social Security Too Soon

Pitfall: It is possible to begin receiving Social Security payments at age 62. Your payment can increase if your delay your draw date and reduce how much you withdraw.

If you can retire before the full Social Security retirement age of 66 years and two months, it is possible to begin receiving early payments. The downside is that your payments can be several hundred dollars less each month. By transitioning to a part-time job or living off your pension and 401k/IRA contributions until you turn 66, can yield a large payment that can make it easier to make ends meet in retirement.

Solution: Wait as long as possible to start withdrawing Social Security to maximize your monthly payment. In the meantime, try to max out your 401k and IRA contributions and don’t forget about the catch-up contributions.

Required Minimum Distributions

Pitfall: When you turn 70 1/2, you will need to begin making Required Minimum Distributions (RMDs) on your tax-deferred 401k and IRA contributions. Even if you are not ready to withdraw the money.

Whether you have started to withdraw from your 401k or IRA accounts yet or not, federal law requires you to begin withdrawing money when you turn 70 ½. Your brokerage will send you a notice stating the withdrawal amount. You need also be responsible for paying any capital gains taxes on these withdrawals.

Solution: To avoid these RMDs, contribute to a Roth 401k or Roth IRA in your remaining working years as these types of retirement accounts are funded with post-income tax dollars. Uncle Sam has already claimed his share and isn’t concerned when you withdraw your Roth dollars.

You can also use an RMD calculator to project your minimum distribution amount. Talking with your tax professional can help you determine how these distributions will affect your tax bill.

Not Having a Hobby

Pitfall: After working long hours for several decades, retirees suddenly stop working and do not enjoy retirement due to a lack of activity.

One benefit of retirement is that you are no longer required to work because you can afford not to. But, that doesn’t mean you shouldn’t do anything at all. Retirement is meant to be fun and enjoyable. Keeping busy doing the things you love will keep you happy and potentially add years to your life.

Solution: If you don’t have one already, find a hobby. A hobby can be as frugal or expensive as you make it. You might even consider getting a hobby that makes money.

Summary

Retirement is exciting and nerve wracking at the same time because of the transition. By planning for retirement, financially and mentally, you will be able to avoid the money mistakes encountered by others in their 60s. The transition to retirement is much easier if you can retire debt-free, minimize your monthly expenses, and save as much as possible in tax-advantaged retirement accounts.

The post 6 Money Mistakes You Need to Avoid in Your 60s and Retirement appeared first on Wealth Bytes, the content owner.

There are tons of great reasons to start side hustling, like paying off debt, building savings, or paying for more fun things in life, like a vacation. Once in a while, your side hustle might be even be the key to allow you to pursue the life you’ve dreamed of.

Grayson built a side hustle for years that allowed him to quit his job and run a business full-time. It’s not easy, but side hustles or part-time work can be a great way to get you ahead financially in many aspects of life. It can also be a little more fulfilling depending if you enjoy your current job or not.

But starting a side hustle isn’t always so easy. Some side hustles take a significant monetary investments to get started and that can be difficult to swing if you don’t know how successful you’ll be at making money, or if you have existing debt and aren’t looking to spend any more money to get your side hustle started.

Luckily there are some side hustles that you can start for free along with some time investment! Here are 6 free side hustle ideas to get you started.

Part-Time Jobs

Most part-time jobs don’t require you to spend any money to get started. Depending on the side hustle, you might have to wear a uniform (hopefully they’ll provide one) and many times you’ll have to drive to your part-time job, but other than that, it doesn’t usually take any financial investment to start a part-time job. There are thousands of part-time jobs out there. They may not all be glamorous or easy, but they do pay. Any money you earn will go toward your financial plans.

You can check out sites like Indeed.com or Snagajob.com as a good place to look through companies in need of part-time workers.

Freelance Writing

As a freelance writer for blogs, I didn’t have to spend anything on equipment in the beginning as I already had a computer I could use for my business. If you don’t already have a computer you can use for freelance writing, you might have to make an investment in one to get started. But other than that, the only things you need are the internet and a decent ability to write and articulate your thoughts in an interesting way.

BONUS – If you really want to learn how to make it big freelance writing. Take this course! Seriously, this writer makes over $200,000 a year from freelance writing. It’s very possible!!

While you can start this endeavor for free, you can really ramp it up by starting your own blog. This does cost money (less than $100), but can be very lucrative if you work hard at it.

Walking Dogs or Pet Sitting

Walking dogs or dog sitting is a great side hustle if you enjoy animals and it’s free to get started. Pet owners will provide you with all the food and equipment you need to care for their animals, so all you need is walking shoes and a love for furry friends. While you can start walking dogs today, it might take a little bit of work to find the people willing to give you a try.

My suggestion would be to check out Craigslist and see if you can find someone asking for a dog walker or pet sitter. That’s going to be the easiest way to get started and it’s free to use Craigslist. You can also advertise your services on there for free, so that’s a bonus!

Mowing Lawns and Other Yard Work

If you already have to mow and care for your own yard, you can put that equipment to use to make money doing the same thing for others. Yard work can be grueling, but it’s also a great way to spend time outdoors soaking up some sun and getting fresh air and exercise. There tends to be a lot of competition for this type of side hustle, but if you start small in your neighborhood, you can expand from there.

I’ve seen kids in neighborhoods provide this type of work for little money, but they are out there hustling to earn some cash. You can’t complain with that!

Cleaning Homes or Businesses

While cleaning homes is something that is usually done during the day, cleaning businesses is usually an evening or weekend task that can be managed alongside other jobs and side hustles. Some clients might want you to provide cleaning supplies, but if you are just getting started, you can structure your business so that your clients have to provide the cleaning supplies. This will help you avoid having to buy anything to get started with this side hustle.

Babysitting

It’s hard to find a good babysitter these days so if you provide evening and weekend babysitting and you’re good at it, chances are that you’ll be in high-demand. As a babysitter in other people’s homes you don’t have to provide any toys or supplies. In fact, you’ll often get free food if your babysitting gig includes meal time hours and you can usually watch TV while the kids are napping or in bed for the night.

Side hustles are a great way to make more money and sometimes making a financial investment to get started is worth it, but you may not always have the option to spend money to get started. These free side hustles are great ways to get started risk free.

Money Making Bonus – Get Paid For Your Time!

While I love these side hustle ideas, I’ve known many people who’ve had success making money by taking surveys. Yes, there are many bad survey companies out there, but you CAN make money by taking surveys. It’s not going to be life changing money, but if you have a few spare minutes here and there, why not make money? Seriously!

If you want a real opportunity, then check out Survey Junkie. They are one of the highest rated survey companies out there and they pay their survey takers on time.

The post 6 Side Hustles You Can Start for Free to Make Money appeared first on Wealth Bytes, the content owner.

Five years ago, we were able to pay off the last of our credit card debt. I can’t believe it’s been 5 years since that last payment was sent and we were credit card debt free! Really, time has been flying by. We’ve done a lot of stuff since breaking the chains of debt, and I’m excited that we’ve been able to do it.

My wife and I are living a much better life sans consumer debt (minus our mortgage). In fact, we’ve been able to save over $180,000 in cash since then. BOOM!

It took four years of our life, but we were able to prevail. I stand in front of you today completely credit card debt free. Yes, I was someone who racked up a lot of credit card debt (add on top the over $25,000 in consumer loans) and only paid attention to the minimum monthly payment.

My head was in the clouds and I was just enjoying the ride. Credit cards made spending easy and a little fun. I didn’t have to worry about paying it all back. It was someone else’s money, right?

It wasn’t until I realized our minimum monthly payments were higher than my mortgage payment. That’s when it was time to get serious. It was time to smack back that debt and live a more financially sound lifestyle. The game was on and the debt was going to lose!

How We paid Off $50,000 of Credit Card Debt

There are many others that might have more or less credit card debt, but we all got into it for one reason.  We spent way more than we made.  Simple and to the point.  There might be many “reasons” why we get into debt, but it all boils down to spending more than one makes.  It doesn’t matter if it is due to compulsive spending, medical bills, emergencies, or anything else.  If you spend more than you make, then you will be in debt.

I have written a few times about why we got into debt.  There were many reasons, but it all boiled down to spending more than we were bringing in.  I built a business, funded it with credit cards, bought a Jetski, and funded vacations on credit. The business failed and the Jetski broke down. All I had to show for those were the monthly payments of debt.

I loved credit and it loved me. Unfortunately, our relationship was destined to fail.  Credit cards allowed me to get things that I couldn’t afford and charge it to my future self.  If I had known what I know now, I wouldn’t have gotten my first credit card in college.  I would have taken the time to learn more about credit and use it in a wiser fashion.  I can’t take back what I did with credit, but I can use that failure to teach me what not to do.

Luckily I learned from my mistakes and am not scared of credit at all. In fact, I use it regularly, but in a wiser fashion. I know what I’m doing now and haven’t paid a dime in interest since paying off the credit card debt.

Here are the steps we used to pay off the $50,000 and the $25,000 in consumer loans. Yes, over $75,000 in debt we crushed in four years. It’s possible and hopefully these steps will help you get there.

Step 1 – STOP Spending Money Without Thinking

This one may sound easy, but it is by far the hardest.  You have to figure out why you are spending so much money.  I was spending in order to fund my business, along with just buying things that I didn’t need.  I was purchasing to satisfy my wants.  It is time to figure out the difference between wants and needs.  I took a hard look at my finances and realized that I needed a change.  I shut down my profitable online business, stopped eating out, cut our cable, and created detailed grocery lists.  I took my lunch to work every day as a way to eat better and save a lot of money.  These are the things that I did to stop spending money.  Beyond paying your regular bills, you need to figure out where the rest of your money is going and cut off the spending.  It may be harsh, but it is important.

If you haven’t done so already, I highly recommend signing up for a service like Personal Capital or Mint.com. Seriously, both of them changed my financial life. While I started out on Mint, I moved to Personal Capital because it was easier to use and didn’t have all these ads irritating me. It even did a much better job at bringing in my investments (yes, I had them even while in debt!).

Step 2 – Pick Your Debt Payoff Method

Once you figure out how to stop spending money, then you need to choose a debt payoff method.  There are quite a few to choose from, but the two main ones are the Debt Snowball and the Debt Avalanche.  If you want to know the difference, then check out my snowball versus avalanche breakdown.  I chose the Avalanche method because it made mathematical sense for me (key note there!).  I used my emotions to get into debt, but I wanted to take them out of the equation.  By using the Avalanche method, I was able to save thousands of dollars worth of interest payments.  That was my emotional win.

[clickToTweet tweet=”My emotions got me into debt, which is why I used math to get me out! #debtavalanche” quote=”My emotions got me into debt, which is why I used math to get me out! #debtavalanche” theme=”style6″]

To be very honest, it doesn’t matter which method you choose. The only way you will get out of debt is if you choose a method. There are no winners here by choosing one over the other. If you choose something, you’re a winner! Remember that and move forward. I’ve even seen people start out with one method and switch. You can do it month by month. Just start today!

Step 3 – Stay on Target and Focused

Welcome to the next hardest step.  Paying down debt is not easy and it will usually take some time.  We all don’t have the luxuries to just pay off our debt in a couple of months.  It will most likely take years.  It took me 4 years to pay off my credit card and consumer debt (around $75,000).  It took longer than some, because we saved along with paying down the debt.  We worked hard to make sure we stayed on target.  There are so many temptations that occur in everyday life, but you have to understand your goal.

Do you want to be buried in debt or would you rather have financial freedom?  I chose financial freedom.  Don’t be afraid to tell your friends or family that you can’t do something because you can’t afford it.  You may not want to irritate your friends or family, but these are necessary changes.    If they love and respect you , they will understand. Paying off debt is about you becoming a better person and more financially stable.  You have to do what ever you can to stay on target.  I made some simple changes along with harder changes to make sure I stayed on my debt payment plan.

Step 4 – Make More Money

You can only save so much, so there might be many times where you just don’t make enough money to accelerate your debt repayment.  There are quite a few ways to make more money besides your full time job.  I made money by selling things on Craigslist, selling on eBay, taking surveys (yes, this can work), starting a blog, and freelancing on certain projects via Upwork.  I worked hard each and every night to make a little extra cash that I could throw on my credit card payments.  You have to think outside of the box when you are paying down debt.  Think of something that you are good at and go see if you can make money from it.  Don’t spend money to start a side business though.  That would be unwise.

If you can’t think of ways to make extra money, then check out our making money section. This has articles about different ways to earn extra money. Here is our best and biggest money making post with over 100 ways to make extra money.

We can break a few of these ideas down for you as well into these great money making articles…

• 6 side hustles you can start for free
• 10 ways to earn extra cash in college
• 7 simple ways to make money in one day
• 7 unusual ways to make easy money
• 7 interesting ways to pay down your student loan debt
• 5 innovative ways to make money with your car

Step 5 – Learn How to Save More Money

As you can probably imagine, I wasn’t much of a saver when I was in credit card debt. Actually, that mindset happened before, but credit cards and spending just pushed savings to the back burner. I didn’t care about saving money. I was having the time of my life. I really wish I knew then what I know now. It hurts to realize what you did to yourself with your needless spending.

Just look at the power of compound interest. Goodness that’s some powerful stuff. I realized I was leaving money off the table for  myself later down the road and for emergencies in general. I wasn’t saving much for retirement, wasn’t investing, and wasn’t socking away cash for emergencies. I was doing it all wrong. I had to teach myself how to save money.

Fast forward some years, I’m still stashing cash for emergencies, I’m investing, and saving for retirement. I brushed off the “scared of investing” vibe and opened an Betterment account in 2012, a month after the credit card debt was gone. It was the best decision I’ve made with regards to investing. They make it so easy a caveman can do it (haha, Geico!). I’ve recommended that service to anyone that will listen. You can also check out WealthFront as they are a great alternative to Betterment.

It seems we really make saving money much harder than it needs to be. I have an entire section on this site dedicated to it. Saving money is really not that hard. We just have messed up priorities. We can’t differentiate between wants and needs and that needs to stop. Once I stopped using “need” for everything, I realized I could do without so much more and keep more money in my pocket. It’s all a mindset people. Change it and your financial freedom will follow!

Step 6 – Celebrate Your Successes

Here was my most important step and one I think everyone should partake in.  Since we know that spending money is very emotional, then we have to create celebration moments.  I took the emotional aspect out by using the Avalanche method, but you can’t take it out entirely.  So, in order to make sure that I stayed on my target, I created celebration steps.  During times in my debt repayment, I would celebrate when I paid off debt to reach a certain level.  If I paid off $5,000, I would go out and celebrate with my wife.  Now, I wouldn’t go on a spending binge, but I would go out to eat and have a beer.  I paid for that in cash, so I wouldn’t add it to my credit card debt, but it was important.  Any time I would reach a new milestone, I would celebrate.  This step kept me so motivated and allowed me to keep my head up.  Debt likes to keep you down, so you have to make sure you figure out ways to keep your head up.

Step 7 – Continue Your Financial Education

One of the biggest motivational wins for me was when I started branching out and learning more about money. Before, I know how to make money and I surely knew how to spend it, but it wasn’t until I dug deep and learned how money affected me that I changed my financial life. It’s been three years since I paid off my last credit card, but I’m still learning. I have learned how to start investing and found some cool brokerages to use. I’ve found new tools to help me save (like Digit) and keep me abreast of my money (Personal Capital). I’ve found better savings products than just the typical bank.

Related: Hate bank fees? Here are 12 banks offering free checking accounts.

The key is to never stop learning. While the concept of money is pretty cut and dry, there is always something out there to learn. Heck, there are over 800 articles on this site going through the different aspects of money. I will never stop learning and if I think I’ve learned it all, then I know I’m doing something wrong. If you don’t know something about a financial product you are seeking, then take the time to sit down and educate yourself. That’s the only way we can change our financial future. Knowledge will always be power!

Alright everyone, now you have seen how we paid off my $50,000 worth of credit card debt, plus another $25,000 in consumer loans.  It was a long journey and a very hard one at that.  I don’t wish debt on anyone, but it has taught me a lot about myself and how I handle problems.  We took the debt by the horns and rode it right out of our life.

One thing that makes me different is I’m not afraid of credit cards anymore and in fact, I use one for all of my purchases. It’s not about being scared to use credit, but knowing how to use it wisely. It wasn’t the credit card’s fault that I used it, it was my own. I picked it up, I swiped it, and I didn’t pay it off. This debt was on me, but I fixed the problem.  I know you can as well.

Do you have debt? If so, what is a step that you think is important to get out?

The post 7 Easy Steps We Used to Crush Credit Card Debt appeared first on Wealth Bytes, the content owner.

As you enter your 30s, you have probably experienced the transition in life from a single, carefree college grad to getting serious about your future by “settling down” to start a family and paying your dues at work to get the next promotion. While you hopefully avoided these money pitfalls in your 20s, there is another batch of money mistakes to dodge in your 30s!

Sound money management is not always easy when you want to start a family, grow in your career, and still enjoy the money you work so hard for. There will be choices you need to make that can affect the short term and long term viability of your money. While these aren’t comprehensive, here are six money mistakes you need to avoid when you’re in your 30s.

Not Saving For Emergencies

Pitfall: Too many Americans, regardless of age, can barely afford a small emergency.

During your 20s, you might have focused on paying off your student loans or maintaining a social life. If you changed jobs recently, you probably had to dip into your savings to pay the bills during the transition. The adage that life is full surprises still rings true. Do your best to prepare for life’s curveballs.

Solution: Make a plan to save at least $500 in a separate bank account that you only use for unexpected emergencies. BBVA is a good place to open a fee-free bank account. If you already have $500 saved, great, try to bank up six months of monthly expenses. After you have built your emergency fund, invest your extra income.

Not Saving Enough for Retirement

Pitfall: Studies show only 58% of Millennials are saving enough for retirement.

Millennials, the age group now entering their 30s, are a mixed bag when it comes to investing. Those who have started saving for retirement started at age 23 and others that have delayed saving stated they plan to start at age 33. And, 60% of Millennials have less than $10,000 saved so far.

Solution: When it comes to investing, your greatest asset is time. Take small steps like matching your employer 401k contribution or contributing 10% of your income to an IRA if you do not have access to a 401k plan. Using a service like Personal Capital makes it easy to track your net worth and calculate exactly how much you need to contribute every month to reach your retirement and non-retirement goals.

If you need to start investing, but aren’t sure how to do it, check out services like Betterment or WealthFront. These investment services make it much easier and easy for those who don’t want to worry about all the lingo and just want to invest.

Overemphasizing Graduate School

Pitfall: More and more young professionals are pursuing a graduate degree when the advanced degree isn’t required.

Millennials are the most educated generation in American history as an increasing number earn undergraduate and graduate school. What many might not realize is their graduate degree might be focused on the wrong specialty for their long-term career aspirations. Or, a graduate degree only yields a small salary increase despite costing as much as $100,000.

Solution: Advanced degrees are required for certain career fields like law, medicine, and science. It can even be required for certain business and technology positions. Know why you want to go to graduate school. Contemplate if the career rewards are worth the investment of time and money. Can you continue working and earn a similar salary without having to go back to school?

Not Talking About Money with Your Spouse

Pitfall: Couples get married and know very little about financial habits.

This money mistake applies to all generations entering a relationship. Before you tie the knot, take the time to talk money goals and spending habits with your loved one. Money issues are the third leading cause of divorce.

Solution: Having a successful marriage is more complex than money management, but, merging finances can be a challenge at times in the early years of a relationship. Make financial goals together and have regular conversations about monthly spending and bills. Managing joint finances can take years to perfect, so be patient and be willing to make compromises if you both view money differently.

Not Having Life Insurance

Pitfall: While most adults live a long, decade-spanning life, surprises do happen that take away a parent unexpectedly.

While nobody plans to die early, you need to prepare for the unexpected. If you are the primary income earner and were not to come home tonight, could your family survive the transition financially? If not, you might consider purchasing a low-cost term life insurance policy to help your family in this time of mourning. The best insurance policy is the one you never have to use and term life is an affordable “financial hedge” for your family if the unexpected happens.

Solution: Purchase a term life policy for you and your wife. Policies can start at $20 a month for $50,000 worth of coverage for a 20-year term. You can purchase additional coverage for a slightly higher monthly premium. Ensure you have enough coverage to cover any outstanding loans (i.e. mortgage, student loans) and money to cover several months living expenses if your wife needs to find a new job to fill the income gap.

Check out Haven Life or Policy Genius for great places to find insurance. Both offer the ability to apply right online and they streamline the process for you.

Keeping Up With the Joneses

Pitfall: Many households have high amounts of consumer debt and live outside their means.

Maybe you grew tired of living like a poor college student even after you landed a full-time job. After repaying your student loans, you decided it was time to finally splurge on yourself by buying your dream car, a sports boat, or taking exotic vacations every year. If you are like most people, you have to borrow money to “keep up with the Joneses” and most, or all, of your disposable income goes directly to the bill collectors.

Solution: Make it a goal to be free of consumer debt by 40. It’s possible by living within your means and saving for large purchases instead of immediately walking into the finance office to fill out a loan application. You will be much happier and less stressed knowing you don’t have to keep working a monotonous job because it is the only one that pays you enough to pay the bills every month.

If you have a home mortgage, this one change can save you $22,000 in house payments! Think of all the other things you can do with $22,000 besides giving it to the loan company because you keep doing what’s “normal.”

Summary

Life starts to get a little more serious in your 30s as you have more responsibility placed on your shoulders at home and work. By focusing on living within your means and having a plan for the future, you can accomplish anything, financially and mentally. Just remember that the single greatest asset you have is time. You still have decades to make up for any pitfalls you might step into on the journey known as life.

The post 6 Money Mistakes You Need to Avoid in Your 30s appeared first on Wealth Bytes, the content owner.

No matter where you turn, you see people telling you to do what you’re passionate about, have fun, make money, and live your dreams. All of those things are great in theory, but not everyone can earn money from something they are passionate about. That’s why we have hobbies.

Luckily for me, I did find something I’m passionate about and I do earn a full-time income from it. It’s certainly not easy and I work way more than I ever have before. It started as a side business to my 9-5 job, which I quit almost two years ago, but it sprung out of a passion of mine. Having said that, when it becomes your business and job, it can consume you. You focus on it every day, you can’t turn it off. Running your own business is hard. Very hard. It’s no joke and takes dedication to the nth degree.

You don’t just stumble onto success, you create it. You work for it. It drives you. The problem is many of us have to work at any job we can find. We have bills to pay, mouths to feed, kids to raise, etc. I worked and built a business for nearly four years before I left to go out on my own. I worked upwards of 18 hours per day. Yes, per DAY!

Some like to say I’m lucky and to a point that’s very true. But most of what I have wasn’t luck. This was grit, determination, and just hard work. Many don’t see what goes into creating a successful business, but it’s no unicorns and rainbows.

But what happens when you start  only focusing on the money and stop focusing on what’s around you? You lose your true focus!

Memories Should Drive Us, Not Money

My wife and I took our two boys over to Europe for the entire month of May. We’d never been, but since her sister now lives over in England, we were able to swing a long vacation with a place to stay. We visited England, Scotland, and Italy while we were there and it was amazing!

Even better, we were able to convince my parents to meet us in Scotland, so we got to enjoy some family time while traveling around in another country. We don’t regret one minute of it. My only regret is we didn’t do it sooner.

You see, I’ve been so focused on building a business, a brand, and earning money to support my family, that I forgot the most important aspect…spending quality time my family creating memories!

I’ve been hunkered down in my basement helping people, getting new clients, and earning a living that I stopped focusing on what’s most important to me. I stopped focusing on them and only looked at the money. It was growing and it made me push harder. The bottom line consumed me in almost every aspect of my life.

But what was I doing it all for? Why was I pushing myself so hard?

I couldn’t really answer that question and that’s when I realized I had lost my focus. I’d lost my purpose.

[clickToTweet tweet=”You Can’t Take Money With You, Only Memories!” quote=”You Can’t Take Money With You, Only Memories!”]

You Can’t Take Money With You, Only Memories

In the United States, we’re a society driven by money. We associate it with success, wealth, and power. Money is the king in our culture for sure. It drives people to do things they normally would not. It corrupts people, changes our ideology and motives. Money certainly isn’t the root of all evil, but it just pulls evil out of those who have it inside.

For the longest time, I’ve focused on making more money. I equated more money with more success. Unfortunately, success is different for each person, but I wanted those around me to think I was successful. It just meant I didn’t believe in myself that I could be. I had to get validation from those around me to tell me I was successful. I was misguided and one of the big reasons I got into debt. I was trying to be the Hollywood definition of success.

A change in mindset and philosophy is what got me out of debt and on the right path.

During our time in debt and even as much as a year ago, I never thought I could travel. The expense was too much and it was taking me away from my original goal of making money. Traveling was on the bottom of my list. That all changed when we went to Jamaica.

I realized there what I had been missing all of this time. I got to spend 5 days with my wife at Sandals and it was the most relaxing time I had in a long time. I didn’t focus much on actual work, even though we were there for a blogging mastermind retreat. We did talk about business, but didn’t implement anything, just talked, learned, and enjoyed our surroundings. This was what I worked for, this is what I needed!

That trip gave me the travel bug and I don’t mind that bite at all.

When we were getting ready to go to Europe for a month, I had to continue to talk myself into spending the amount of money in order to take the trip. It’s expensive to travel to Europe, even if you can pay for much of it with travel rewards (we were able to pay about 60% with our travel credit cards). That expense weighed on me. It stressed me out.

It wasn’t until I was talking with my mom to convince her to meet us in Scotland that I said we can’t take money with us when we go, but we can take memories. It came out of my own mouth, yet I wasn’t following it. Talk about being a hypocrite. That’s not what I wanted to be and I don’t like labeling myself as one.

It was time to take my own advise. It was time to create those memories that can last a lifetime and beyond.

Stop Making Money and Start Making Memories

OK, don’t really just stop making money. You still need to feed yourself, pay your bills, and take care of your obligations. What I mean by stop making money, is stop making it your sole purpose in doing something. Stop focusing on it 100%. There are more important things in life than money and you need to find your focus, your purpose, your goal.

We’ve been back from Europe for a few weeks now, but it was one of the best times I’ve had in my life. I got to spend time with my wife and kids each day. I got to travel to different countries, make memories with my parents, my wife, and my kids. Yes, I had to spend money, but those memories won’t go away. They’ll be in our hearts and minds forever.

While I did work when I was over there (a huge plus in being self-employed), the time was minimal. I enjoyed the days with my family and I worked late at night. It was a giant relief to be able to enjoy my time there not focused on getting more clients and how my books were doing. The best part is I’ve worked so hard in creating systems and most of them worked well when I was gone.

I’m extremely grateful of the opportunities my hard work has provided, but there have been times I wonder what I’ve missed in the pursuit of that money.

Can more money better your situation, heck yes it can. I know my focus over the last few years has changed my life completely. But what is your life without spending time doing things you love with those you love? Maybe slightly less money, but more time to make memories is the key to true happiness?

What is having more money if you can’t take time to enjoy it?

Don’t get lost in the never ending quest to do more, earn more, consume more.

Use your money wisely, save it for creating memories, spend it on things you need, but still enjoy things you want. Money is only a tool to help us achieve what we want in life, but don’t forget we should want to create awesome memories in order to look back at them knowing we spent our time and money wisely!

My plan is to continue earning money, building a business, but also be cognizant of what’s around me, the time I spend with friends and family, along with working to create memories with the money I work so hard for.

The post Stop Making Money and Start Making Memories appeared first on Wealth Bytes, the content owner.