According to the latest figures from the US Census Bureau, the average household income is $73,298. Now that might sound like quite a lot but, as anyone knows, we could always do with a little more.
The problem is that there are only so many hours in the day, so options for generating that extra cash can sometimes seem limited. That means you’ve got to think smarter by working out novel methods that conserve your valuable time. But never fear, there have never been more ways to make some extra cash with the minimum of effort. Here are four key areas where you can boost your income:
Sharing your opinions
We’ve all got opinions. And often we’re only too willing to share them for free; but the good news is that it’s pretty easy to monetize them. That’s because companies of all kinds are interested in what customers think about them. So the first thing you could do is get yourself registered with a market research firm. Rates vary, but you can make up to $60 per hour just for chatting for an hour about anything from travel to pizza toppings. An even more laid-back way is to get on one of the TV network’s panels of viewers, which actually pay you for watching your favorite shows and giving your opinions.
Then again, if dining out is a favorite pastime of yours, most of the big restaurant chains rely on mystery diners to let them know just how well — or poorly — their branches are doing. The way it works is simple: You’re given a fixed amount for a meal and then write a short report on it afterwards. You’re not earning money per se, but it’s certainly saving cash you’d otherwise be spending on eating out.
If going out isn’t for you, you could always try your hand at a few online surveys.
Using your car
When Uber first arrived on the scene it not only shook up the taxi industry in general, it also opened up the possibility for virtually anyone with the right kind to vehicle to set themselves up in business too. And there are plenty of other ways that you can use your auto for more than just getting around.
Turo lets you rent out your car when you’re not using it; the site even includes a calculator that shows you how much you could be earning.
If you’re a more outgoing type, then the Wrapify service could be for you. They’ll wrap your car in an eye-catching ad; in exchange, you’ll earn between $50 and $100 per week, depending on where you live. It’s not a fortune — but it’s handy gas and maintenance money!
Getting other people to do the work for you
The world’s full of people with great ideas for businesses who don’t have the capital to get started. Thankfully, crowdfunding sites like Kickstarter help them raise the finance they need — and it can sometimes mean big returns for investors too. By March 2018, Kickstarter had raised more than $3 billion and funded over 140,000 projects, making money just not for the businesses, but also for investors.
Another growing trend has been to exploit the big money that’s on offer in gambling world. This isn’t by donning your baseball cap and shades and heading for Vegas, but by staking and backing poker players who show promise. At its simplest, it involves putting up all or some of the buy-in money they need to enter a tournament in exchange for a share in their winnings. The potential rewards are large. There are many high profile success stories like when the famous pro Daniel Negreanu was runner up in a 2014 tournament, winning $8.29 million — and each investor who backed him with $5000 earned a $41,440 return.
Decluttering your home
How many times have you walked into your garage or closet and thought: I really must get rid of this stuff sometime? There is an ideal way to do this — and make a profit too. You can find buyers for everything from old books to used furniture on sites like eBay, Etsy or Craigslist — and the brilliant thing is that many people are actually willing to take the stuff away themselves.
If you have clothes that you simply can’t bear to part with, sites like Style Lend could be the answer. If you’ve got designer labels in your closet, you can give them to the service to store for you, and you’ll receive a fee each time anyone rents them. It’s the perfect way to enjoy the best of both worlds: less clutter in your closet and the occasional payment coming through too!
So, as you can see, there are easy ways to boost your income with very little effort — and we’ve only scratched the surface. Have a look around online and you’ll find that there’s plenty of useful advice worth considering. And, while you may not earn enough to retire to a life of luxury, it’s definitely going to be a step in the right direction!
Photo Credits: stock photos
I know exactly one person who makes anything close to that $73k figure. Most people in my area make less than 40k per year. I live in a rural area. I have to say I, for one, question that figure and how it was reached.