7/28/2010

Make More Money

When it comes to saving money, you have two options – cut expenses or increase your dispensable income. For most Americans, our largest expenses such as housing and transportation are fixed and cannot easily be reduced. So what do you do when you’ve cut all the expenses you can?

Get rid of things you no longer need:

Take a look in your closets, attic, or storage space. Chances are you’ve accumulated some items you no longer need. Sell unwanted items like DVDs, video games, or comic books to specialty stores which generally give you a better deal.

For collector’s items or items of higher value, list online through auction websites.

Hold a garage or yard sale to get rid of your remaining items or things of lower value. If you don’t have much to sell, consider hosting a joint or neighborhood sale to increase traffic.

Monetize your hobbies:
If you are a gifted crafter, consider selling your crafts at local fairs or online.
Got a way with words? Make money through blogging by charging for ad space. The larger your number of readers, the more you can charge for ad space. Additionally, freelance writing or editing opportunities can be found online.

Online stock photography sites allow users to submit and sell their photos online. Each time someone uses your photo, you’ll receive a small stipend.

Other ways to supplement your salary:
Participate in medical or market research studies. Companies often hire research firms to do market research on new products. By donating a few hours of your time, you can make $50-$200.

Get a second job. If you work a traditional 9-5 schedule, consider working 10-15 hours a week at a restaurant or retail store. Work at an establishment you already frequent, and as an added bonus, you’ll receive employee discounts on merchandise.

Make sure to bank your extra income towards your savings goal! Track your progress towards a savings goal by joining Virginia Saves, and using the America Saves My Savings Tracker for free to record deposits and monitor your progress.

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