Are you in need of some extra money but can't get a raise at your job right now? Do you simply want to see how much extra money you can gather up to save for a vacation? We've collected some ideas on how to boost your income and still be able to work your full-time job.


Transcription:
Hi, I’m Carly Cherry with Cambridge Credit Counseling. Welcome to Personal Finance 120 – information for managing your financial life in about 2 minutes. Are you looking for ways to boost your income for your family but you aren’t able to get a raise at work right now? In this episode, we’ve found some great ways you can earn extra money at home or after work.

(On-Screen Graphic: Rent a room) If you’re a young couple, or even if you’re single and just starting out, it might be a good idea to consider sharing your home with someone willing to pay rent. By renting out a room, you could earn several hundred dollars in extra income. This extra income could be used to pay some of your bills, child care or even a portion of your mortgage. If this idea sounds like an option for you, visit your state’s official for the specifics on your Landlord and Tenant Law.

(On-Screen Graphic: Odd Jobs) Depending on what you’re skilled in, apart from your current job, there is money to be earned outside of the office. Many people spend their free time tutoring, coaching, walking neighbors’ dogs, or even running errands for others that don’t have the time. After-school tutoring in the evening and on the weekends could potentially bring you enough money to cover your monthly gas bill for your car.

(On-Screen Graphic: Clear Out the Clutter) Aside from being a useful stress-reliever, cleaning out the clutter in your home could actually bring in a profit. Take a good look through your home. If you haven’t touched those books on your overstuffed bookshelf in a few years, or if you don’t see your family making use of that spare couch in the basement, take to the internet to see if you can find a buying. Gently used books and furniture can be sold for a decent price on websites like eBay and Craigslist.

(On-Screen Graphic: Buy and Sell) Along the same lines as selling your own belongings for a profit, there is also the option of frequenting tag sales and estate sales for items to sell. By finding items that the owner is willing to sell for a small price, you stand to earn a large profit from reselling the item online or at an auction. Be careful though, while something may look like a good deal, you need to consider whether or not you know enough about the item to be able to turn a profit. Here’s a hint: If you see an antique item, do a quick internet search to see what related items sell for, this way you’ll avoid overpaying for an item that may not sell for a high price.

(On-Screen Graphic: Freelance) Do you enjoy writing, have web design skills, or have a knack for data entry? If so, there are many websites out there today, such as freelancer.com and elance.com, with opportunities for people who wish to work free lance jobs. The pay ranges depending on the job but it's worth a look if you want to use your valuable skills to boost your income.

That’s all we have for today, but these aren’t your only options for boosting your income. Do your own research online and ask around with friends and family to see what you can find for potential money making opportunities. As always, we encourage you to check out the educational materials on this and other helpful topics on our website, www.cambridge-credit.org. Until next time, I’m Carly Cherry for Cambridge Credit Counseling.