5 Guaranteed Ways To Improve Your Monthly Income

With the economic recession in full swing and businesses closing down every day, we are all finding it harder and harder to make ends meet. It’s no surprise then that many people have been looking at alternative ways of making money. You might just want to boost your income so that you can counteract rising inflation and maintain your standard of living or you might need more funds in order to take that dream holiday in the sun.

Here we will have a look at five different ways of putting a little bit of extra income in your pocket.

Get a lodger

If you’re lucky enough to own your own home and have a spare room, then you might want to consider taking in a lodger. This is a traditional way of making some extra money as you are literally earning cash for doing nothing. Renting out a room in your house is quite easy because all you need to provide is a bed for your guest. It goes without saying that thorough vetting should be performed on all potential lodgers. If you do it right, you could be a winner. Make sure you prepare a contract for your lodger which outlines the expected costs per month to rent your room and includes your terms and conditions such as the amount of notice required if your lodger wished to move out.

Parking Space

Still, on the theme of the property, you might want to offer up your drive as a parking space. With car parks charging notoriously high rates and councils seemingly holding a grudge against all motor vehicles, you could find that your driveway might become quite lucrative. Car parking is a necessity for many of us so the demand will always be there. There are various websites that you can register with to advertise your space so that you can start making money right away. This is more likely to be lucrative to those who live near a station or town center.

Car Boot/Yard Sales

This method of earning extra cash has been a favorite to the average person since the car has existed. The outlay you will incur is minimal; the cost of your pitch is never usually more than $20. A car boot sale allows you to sell all manner of articles and possessions from the back of your family hatchback.

Yard sales are a great way to earn some extra money without the hassle of packing up the car. You can attract interest from passing car drivers and pedestrians. This is likely to be more successful for those who live on busier roads.

DIY

One of the best ways of saving money and thereby increasing disposable income is to try and make and do things yourself as opposed to purchasing them. Cleaning your own car and house rather than employing a cleaner will save considerable amounts of money. If you have a job, you could also try ditching the fast food and sandwich outlets by making your own lunch. Further money can be saved by making your own bread and fruit juices. It’s simple and easy to squeeze some fruit and put it in a glass. The only downside to this money-saving technique is time. However most of us waste countless hours in front of Facebook or the television, so putting your time to better use can save you money.

Internet Work

More and more people are turning to the internet to boost their income and the opportunities to do this are plentiful. If you have a talent for writing, you could earn a reasonable amount of money from writing blogs or magazines. You can become a home panelist for some companies and test and review samples. You will be given a small sum of money to do this, and in some cases can keep the free sample!

Whichever method you choose, you will be on the right track to a healthier bank balance!


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