Most people are familiar with the adage, “money makes the world go round.” While we all need money, earning it isn’t always easy. Normally, it involves heading to work and dedicating a significant portion of your life to the task. But there are ways to bring in extra cash that don’t require a substantial amount of effort.
While many of these tips won’t take the place of regular employment, they can serve as an excellent source of supplemental income. Others can also allow you to receive discounted services from businesses, helping you save money for things you may have purchased anyway.
Monetize Your Website with Ads
If you already run a website, you can earn money by allowing companies to advertise on your site. There are multiple ad services that are easy to enroll with and adding the content to your website is a breeze. Once everything is added, you can leave these on autopilot if you wish.
Use Referral Links on Your Website
Adding referral links to your site gives you the opportunity to make money whenever someone makes a purchase or signs up for a service through your link. Sites like Amazon provide this service, giving you a chance to make some extra cash anytime you discuss an available product, and someone decides to buy.
In some cases, companies will compensate you for referring friends, family, and others to them. You may receive referral fees in cash or receive discounted products or services in exchange for your efforts.
Even some popular apps, like Lyft and Uber, provide account credits for referrals. So, if you use the service often, these credits are as good as money in your pocket.
Short-Term Room Rentals
If you live in a city that is a popular tourist destination, you may be able to make a pretty penny by renting out a spare room on a service like Airbnb. Often, this only works if you own your home or apartment, as rental agreements may prevent you from hosting visitors in this matter. Additionally, not all cities allow for these arrangements.
However, if you can host people, it is an easy way to make some extra money with minimal effort on your part.
Cash Back Websites
If you shop online, using a cash back website as your starting point can be a smart move. Sites like Ebates give you money back when you make a purchase. The rates may vary, and some popular shopping sites might not have an associated cash back offer, but it’s a great way to get money back if you were going to buy anyway.
Switch to a High Yield Savings Account
Most savings accounts come with the ability to earn interest, but not all of these accounts are created equal. High-yield savings accounts let you make more, typically around 1 percent. While that doesn’t sound like much, if your money is going to just sit in an account anyway and you’re not earning that much, making the switch is worth the effort.