Your Money: Supplemental Income

Your car broke down. Your child needs braces. The water heater conked out. Or maybe the debt is mounting, you want to save for a vacation, or you just want to pad your savings account. No matter the reason, you need extra money. How do you get it?

The answer is supplemental income. You aim to bring in extra money to help you meet your goals. Whether it’s a one-shot deal or an ongoing endeavor, giving your income a boost can solve your problems — at least temporarily. Supplemental income is not usually designed to be a permanent solution, but it can help get you through a rough patch.

For those who need a quick one-shot-deal, you may have the best luck by simply selling something. Have a tag sale, post an ad on craigslist or ebay, or visit a pawn shop or jewelry store. You may also find odd jobs that can help you, such as delivering phone books or helping someone with yard work.

If you have a particular skill, you can also use that to your advantage. A while back my husband and I paid someone my husband worked with to help us install our new patio. He had experience, we needed the expertise, and they were able to knock it out in a day and a half. I’m sure he appreciated the extra income, and we saved time by having someone who knew what he was doing. It was a win-win. Maybe you have experience in bookkeeping, photography, proofreading, etc. Whatever your ability, someone is probably looking to fill a need. Try posting an ad in your local newspaper or online at craigslist. You can even check out fiverr.com to get quick, low-cost jobs that can add up.

If that doesn’t pan out for you, or you prefer someone more consistent, you can also look for an additional job. You can try delivering newspapers, picking up a few hours at a local retail establishment, or scouring the job boards for a part-time job that meets your needs.

You can also heck out work-from-home opportunities, such as being an independent consultant at one of hundreds of companies, such as Avon or Mary Kay, Tupperware, Pampered Chef, Usborne Books & More, etc. Depending on your level of commitment, you can do quite well and bring in considerable income.

Possibilities are endless, and you’re sure to find something that works for you. Just remember that even if it’s an on-the-side job, legally you must claim any income you bring in.

 

 

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