12 Ways to Generate Extra Income

Posted by Madison on March 30, 2009

Want to add some extra income to your pockets? If you’ve already analyzed one side of your cash flow with 15 Budget Trimming Tips, it’s time to focus on the income side and find more ways to bring in some extra cash.

Here are some ideas to bring in extra income. Some are quick, some take more time; some are easy, and some are complicated. The more ways you find to generate extra income, the more money you’ll earn.

Feel free to pick and choose the ideas you like that fit your style to generate some additional money.

How to Generate Extra Income

  1. Credit Card Bonuses. I’m always on the lookout for deals like the Chase $100 sign up bonus and the Discover $50 bonus
  2. Negotiate a Raise. Start with your current job and ask for more money. If you think it can’t be done because of the economy, or because of the way your job is structured, see how my husband Negotiated a Raise for inspiration.
  3. Try it Out Incentives. Many companies are willing to give you a bonus to try out their service. The Lending Club $25 Sign Up Bonus is a great example.
  4. Surveys. Answering surveys can be an easy task that you do while watching TV. Cash Crate has a ton of surveys and offers that you get paid to complete!
  5. Bank Bonuses. I love signing up for bank bonuses, like the ING $25 Sign up Bonus. Cheap money, and it takes very little time!
  6. Test Drive Cars. Have a Saturday afternoon free? Why not take a new car for a spin and earn some money for test driving a car. (Update: A reader pointed out that many people are having trouble getting their rewards. You may want to skip this one for now.)
  7. Turn Your Hobby into a Business. If you have a hobby you enjoy, explore ways to earn an income from it. For example, I turned my personal finance interest into a business by making money blogging.
  8. Get a Seasonal Job. Depending on your profession, you might be able to pick up a second job. Tax season for preparers, holiday season for gift wrappers, and summer child care all present lots of opportunities. Even if a second job doesn’t sound appealing, if you limit it to a month, it might not be that bad.
  9. Credit Card Arbitrage. Credit card bonuses not enough for you? You can always take it to the next step with Credit Card Arbitrage.
  10. Freelance Work. Freelance work isn’t limited to just writing! Elance has all kinds of skill sectors for freelancers looking for work.
  11. Enter Contests. While it may not bring in a steady income (or any at all), entering sweepstakes is a fun hobby. And if you enter enough, chances are, you might win something.
  12. Passive Income. I’m working on getting started in Real Estate Investing to broaden the scope of our passive income.

What have you done to bring in more income?

More Ways to Make Extra Money

You can get my latest articles full of valuable tips and other information delivered directly to your email for free simply by entering your email address below. Your address will never be sold or used for spam and you can unsubscribe at any time.


Comments to 12 Ways to Generate Extra Income

  1. Your link to the page on making money for test driving cars is four years old, and worthless.

    Scott Yates

  2. May be MLM? MLM had been doing well during recession time.


  3. I used CashCrate in February for the first time and got a $134 check in March for my efforts. It was great fun but I have to warn you it is not something I can repeat each month. I was successful because I was new and used all the offers with greatest payout (for example, eToro offer had a $50 payout). I actually tried the products I signed up for (and didn’t sign up for those I was not interested in) and kept a spreadsheet with information about each offer and when trial periods would end so I could cancel (unless I decided to keep the service!)

    In the end, I was very happy with the results, but now that I completed all the newbie offers, those left over plus the ones recently added have very small payouts for the effort involved.

    So I recommend CashCrate for a one time quick payout if you are organized and can keep track of all the rules (especially cancellation dates), as I know you are Madison. For ongoing extra income, it may be worthwhile to some people willing to put in the effort, but not for me. I didn’t do any of the surveys (in the $1 payout range) because they are endless.

    You can also make money doing referrals in CashCrate but I did not try that.

    Lastly, I set up a separate email and used a separate credit card for all my Cash Crate dealings so I could keep track easily.

    I joined Cash Crate originally as part of an effort to start a personal blog on how to create additional income streams. I am not there yet but will publish my CashCrate experience once I am ready. I have been following your blog for a couple of months and I love it! You are a great inspiration.


  4. @ Scott: You’re right. The test drive information is to a message board that was started a long time ago. However, they add new deals to it as they find them; you have to check out the last few pages to see the 2009 deals.

    @ Sky: What a helpful intro to the Cash Crate program! Based on your advice, I’m definitely going to check it out soon!


  5. All those “last few” pages are full of complaints about how nobody is getting the gift card they thought they would get for taking a test drive.

    Scott Yates

  6. @ Scott: Good to know! I had used it in the past with no problems, but haven’t done any recently. I’ll update the post… thanks!


  7. Some other ways to make money, but involve education are Forex trading, options trading, stock trader. I know very little about about options trading and stock trading, but I know a bit about forex trading.

    Great list!


  8. I know a friend who’s very smart, took the options and forex courses, studied, and still lost $5000 in one fell swoop. I don’t recommend forex for most people. Options are similar, although there is a range of risk: some options strategies are somewhat less risky than others. That said, I’m still not moving into options anytime soon.


  9. Great article! I’d just like to contribute a similar article which adds even more value: http://colourfulmoney.com/?p=212

    Colourful Money

Previous article: «
Next article: »