Robert Kiyosaki, creator of Cash Flow and the author of Rich Dad, Poor Dad, said, “Money is not the goal. Money has no value. The value comes from the dreams money helps achieve.”
Bottom Line: You must turn your money into something that is valuable to you.
By creatively supplementing your income you will gain a new appreciation for the time and energy it takes to earn a dollar. The experience will lead you to be more selective on where you spend your time and money, thus narrowing your focus on your goals.
Here are 11 ways you can supplement your income in order to get closer to achieving your dreams:
Become an Uber or Lyft Driver
The best part about being a driver for companies like Uber and Lyft is that you have the flexibility to decide when you want to drive. Whether you are on your home for work, or between weekend errands, you can turn your driver signal on and take rides.
I am going to openly admit that I like Lyft better than Uber. I have spent less money on Lyfts, since they do not have the same high surge charges that Uber does. Lyft drivers also get to keep 100% of their tips, so that’s more money for you!
Reduce your Expenses
There is no easier way to keep more money in your pocket then reducing your expenses. First you must figure out what your expenses are. You can use applications like Mint, Personal Capital, etc. to track what you spend each month.
Then start to cut out expenses that do not align with your goals. By cutting out cable television and replacing it with Netflix, you could cut your expenses by $50+ a month. Leaving you with extra money for the things you love. Learn more about saving here.
Invest in Assets that Create Passive Income
Let’s be real, passive income is the best income. Whether you can rent a house, sell an e-book, create a membership site, or sell something with it’s own fulfillment, passive income ventures are one of the best ways to supplement your income on a regular basis.
Click Here to check out one of my favorite blog’s on passive income ideas.
Master the Art of Trade
When I came up with the idea to start a blog I was on a beach in Bali, Indonesia. I had no idea how to buy a domain, create and design a website, or design a logo. I also had no money budgeted to start a blog.
As fate would have it, I ended up meeting a website design in Bali(on that same trip). I told her I would be happy to host her during her stay in America in exchange for her website expertise. And just like that a trade was born! We ended up staying in touch and working out the details.
That’s right.. you are looking at her design on this blog.
You could use your valuable skills, a rental room, or anything of value to trade for something else you would have had to spend money on. Don’t be afraid to make the proposition. You never know what something is worth to someone else.
Sell Things You No Longer Use
This tip might seem like a no brainer but there is definitely some art to selling things you no longer use.
In order to sell things like furniture, quality electronics, or designer clothes you should be using sites like Ebay, Offerup, Craigslist, Poshmark etc. These sites will get your product in front of larger audience, so you can get more money then you could selling them at a garage sale.
Be sure to research what similar items are selling for so you can competitively post your items. Don’t be afraid to post a slightly higher price with “OBO”(or better offer) beside it. This gives people room to negotiate and makes them feel like they are getting a deal.
Turn a Hobby Into Cash
Whether you love to take photos, designing living rooms, or you love to grow vegetables, you can take a hobby and create revenue by branding yourself. Simply start by creating a defined list of products and services. Then start defining who your target market is.
Once you have narrowed down your audience, you need to find creative ways to get in front of them. You can start by networking at local events and community groups.
Get a Care Job
Care.com is a site for connecting people looking for services, like babysitting, pet care, house choirs, errands etc., to other people who can provide those services. It is a great way for you to supplement your income without having set hours.
Care Jobs are primary great for students, retirees, or people who have more time than money.
Rent Your Car
So whether you are out of town, working during the week, or just have an extra vehicle sitting in your drive way, you can earn extra cash by fueling someone’s adventure when you become a Turo affiliate.
Turn Something Old into Something New
I have a special place in my heart for people who can see potential in things that others toss away.
I once dumpster dove to rescue an old dresser that simply needed a fresh coat of paint and a new hinge. By turning something old into something new I put $50 in my pocket.
Luckily, “vintage” is in, so go find something old and put some elbow grease into it.
Take on a Seasonal Job
Seasonal jobs are way too underrated. You can work for just a few months, for a few hours a week, and then be on your way.
The best part is you won’t have time to spend much of your money so you will be saving as well as earning.
Give a department store, restaurant, or another business some of your time and you could learn a new trade, make new friends, and earn some extra cash.
Rent a Room, Short or Long Term
Short or long term room rentals can cut down your cost of living and put more money back in your pocket. My first home was a 3 bed, 2 bath home. I know when I bought it I did not need that much room. I quickly got two amazing renters and reduced my living expenses by $1000 a month.
I took the $1000 a month I was earning and put it in a separate account. The money I was saving afforded me to make more investments, travel, and live with little worry.
If you have an extra room but aren’t too keen on roommates, I recommend throwing your room up on Airbnb or another vacation rental website. When you are renting a room as a vacation rental you control the availability. This allows you to choose weekends or weekdays that work for your schedule.
Leverage your vacation room rental for big events in your city. The Superbowl was just in Phoenix, Arizona(where I live) last year. Hotels were either sold out or were charging $500-$1500 for rooms. A good friend of mine listed their condo and made $1000 a night for the Friday and Saturday, making $2000 for the weekend.
By listing your room at a price lower then hotels, taking great photos, and getting back to inquiries in a timely manner, you could drastically supplement your income.
These tips mean nothing if you aren’t supplementing your income for something of value. Choose one tip that stood out to you and start supplementing your income so you can get one step closer to achieving your goals.
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