During these tough economic times many families are faced with decisions that they didn’t have to make just a few years ago. From a simple night out at the movies or whether or not to splurge on a nice dinner, these are being replaced by maybe a pizza and a DVD rental. And the common theme I see over and over is that people think they will get through it by cutting coupons, turning off lights, and staying in more and more.
This is just programming people, families, to accept this and continually get backed up against the wall and fail. Eventually there won’t be a wall there anymore but instead a cliff. Unfortunately some people will go over, and it really doesn’t have to be that way.
Here are 5 simple ways to supplement your income. I don’t believe in moving backwards. The American Dream has always been to move towards prosperity and success. I won’t let the American Dream just die.
1- SELL FROM HOME
Potential payoff: $100.00 – $400.00 (or more) per party
Companies such as Mary Kay (cosmetics), TupperWare (plastic storage for kitchen and home), PrePaid Legal (legal services), Party Lite (seasonal), and many, many more, allow you to sell their products from the comfort of your home or your friend’s home.
One get together can generate anywhere from $100.00 to $500.00 plus bonus giveaway gifts to the host and guests. Some independent distributors can typically earn $3,000.00 per month or more. There is a lot of flexibility in this method and the networking benefits are tremendous.
2- CARE FOR PETS
Potential payoff: $10.00 to $60.00 per hour
Animal lovers are just the right people for this model. As more and more people lead an ever increasing demanding lifestyle, they need help walking and feeding Fido.
You may do this on your own or just work for a company. They’ll provide all the insurance and bonding, bookings and collecting the fees. You may want to check out Fetch! or a similar company.
Another option within this niche is grooming. You can do this three ways, from your home, the client’s home, or you can start your own mobile grooming business.
Potential payoff: $20.00 to $60.00 per hour
If you enjoy children and love teaching, then tutoring can be a great way to earn some cash. Depending on the subject and your credentials and skills, you can set the price you charge anywhere between $20.00 and $60.00 an hour. And once the word gets out you can get more work through quality referrals.
You can try advertising online on sites like “myngle.com”.
4- TEACH A SKILL
Potential payoff: $20.00 to $50.00 per hour or a lump sum for a seminar
Are you technically savvy with the computer? Know how to create a blog? These are skills we all take for granted and skills which many are willing to pay for.
Consider conducting a workshop or seminar. You can check for opportunities at your local community college or adult-education school, YMCA, church, or recreation center.
People are always looking to learn new skills and they are usually very receptive to these low cost classes.
5- RENT OUT ROOMS
Potential payoff: $400.00 to $700.00 a month
If you have rooms available in your home this can translate into extra cash. You will want to be sure that you are in compliance with your city or town’s ordinances.
A word of caution: hire a good screening agency so that you don’t have to go through the trouble of checking references, proof of income, and contracts.
You can do this all yourself by using Graigslist.com but I’m not sure that this is wise. Let the pro’s handle it and sit back and collect the check.
These are just some ways of earning extra cash to supplement your income. I do want to point out one interesting thing about the first option.
Many of these home based business opportunities allow and give you the ability to earn extra monthly income from residual/passive income. As you promote and build your business you leverage the skills and abilities of your distributors. This makes it the the clear winner for me and why I decided to place at number 1.
Keep the American Dream alive!