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Many of us try to look for ways to make money and there are three ways to make it.
Interactively – doing the work ourselves, simultaneously – we make money while doing something else, and passively – we make money with very little effort.
The best way to make money is to combine two or all three methods effectively. I’ll go over these systems and list 12 keys to building successful money generators.
In this section, I’ll list ways you can improve your earning potential at work as well as how to merge the other money generating methods into your workday.
1. Your W4
Make the most of your paycheck and go to your human resources department and ask to check your W4 credit allowances.
Allowances you can claim include:
- Are single with only one job
- Are married with dependents
- Are Disabled, or caring for someone who is
- Are taking care of elderly relatives
- Are attending school
- Are contributing to a Retirement fund
- Are contributing to a Health Coverage fund
Your HR manager can help you with this more specifically and don’t forget to redo this every time there is a life change – child moves out, divorce, new baby, new home, and so on.
Keep adjusting it to get the maximum money generated for you.
2. Ask for a Raise
If you’ve been with the same employer for quite a while without any changes to your paycheck, it may be time to ask for a raise.
Did you know that 60% of Americans are afraid to ask for a raise for many reasons – fear of losing the job, feel they’re not worth it, or just didn’t know they could ask for one.
Take professional development courses to expand your job knowledge, ask to transfer to a different department (that earns more), or be willing to relocate for a higher chance of gaining that pay raise.
The average salary increase is about 5%, and that can make a difference in your paycheck.
Let’s say you’re earning $30,000 a year, you successfully negotiated a 5% increase, so now you’re making $31,500 a year. That’s an extra $125 a week!
3. Work on your way to Work
Take advantage of your daily commute to work to earn extra money.
Sign up with several rideshare programs and offer other commuters rides to destinations near your work site. Sites such as:
- Uber – Earn anywhere from $15 – $17 an hour
- SideCar – Set your own schedule and fees
- iCarPool – Set your pickup and designation area
- Via – Make around $15 – $20 an hour
Let’s say you picked iCarPool and set your pickup and drop off areas between your home and work.
Fares vary by city and region, but most rides start at $1.50. iCarPool retains $1 from the ride fee and you keep the rest.
You are allowed up to 5 riders per trip, so let’s say the total fare for each rider on the way to work was $4.40 ($5.40 minus fee), times 5 riders equal $22 one way.
So, $44 a day for 5 days commuting is an extra $220 a week!
4. Use Apps at Work
Find different ways to integrate your cash-back and money-making apps into your workday.
Here are a few ideas to start on:
- Use cash-back apps when ordering office supplies, booking business trips, and other purchases you buy for work.
- Use grocery shopping apps to save money when ordering your groceries online during your breaks, and have them ready for pick-up after work. Use Ibotta and get a $10 bonus when you use our link and claim your first offer.
- Use the Trunow app to earn cash-back and rewards on gasoline – during your commute and on business trips.
- Earn money and points playing games, watching videos, answering surveys, and other cash opportunities during your breaks and lunch hour.
As I have mentioned in the past, I work from home and while I’m busy working on my articles I run my Watchback app videos in the background for easy earnings.
5. Have a Side Hustle
Another interactive earnings generator is to start a side hustle from home. These can be done in the evenings or on weekends.
Find a side job that fits your interests as well as local demand. There are so many opportunities to choose from, but some ideas include:
- Freelance Gigs
- Teach online
- Baby, Pet, or House sitting
There are so many viable hobby, computer, outdoor, and phone jobs that you can start at any time.
In this section, I’ll show you how to generate money while accomplishing other tasks.
6. Cash-Back Apps
Use a variety of cash-back apps to earn while you’re doing your regular shopping, surfing, and online purchases.
Here are a few of my favorites:
- Ibotta – Cash-back on shopping, groceries, travel, and much more
- TopCashBack – Another great cash-back shopping portal
- Shopkick – Earn more than your receipt, you can earn in-store too
Check out Frugal for Less’ many articles and reviews for the best cash-back apps that suit you.
Bonus Tip: Buy things with your rewards credit card and earn even more money back!
7. “Reuse” your Work
Keep earning money for work you’ve already completed.
This means whatever side hustle work you have completed – submit it to more sites to make more money.
Here are some suggestions:
- Submit your photography to sell on several platforms – Shutterstock, Adobe Stock, Fotomoto, and Alamy
- Submit your blog posts and articles to Medium, Vocal, and many more
- Teach on more than one platform such as Takelessons, iTalki, and many more
- Claim the same shopping receipt on several cash-back apps at once
- Turn your blog posts into podcasts, eBooks, or YouTube videos
- Sell your course on more platforms like Udemy, Skillshare, and many more
- Sell your eBook on more sites like Amazon, Smashwords, Blurb, and CreateSpace
Note: Be sure to check the site’s policies on publishing or selling elsewhere. Some will demand that once a work is submitted it belongs solely to them, others will not accept previously published works.
8. Combine Gigs
Combine several gigs together in the same “errand” to generate money faster.
Here’s what I mean:
- Combine a dog walking service with apps that pay you to exercise, take photos to sell, and take photos of help wanted signs around town.
- Complete rideshare, delivery service, and gig tasks at the same time
- Combine several rental services from home – rent out your car, driveway, backyard, equipment, a property, and a room for more monthly income
- Adept at sewing? Use your sewing machine to make crafts to sell on Etsy as well as offer alteration services and sewing lessons to your community
- Love bargain hunting? Use this fun skill to buy things at yard sales, flea markets and estate sales and flip them for a profit on eBay, online auction sites, or in other ways
- Combine an event catering business with an office lunch cart, and a farmer’s market booth.
You just need to explore your passions, discover similar jobs and see how they can be combined to money simultaneously.
The third section will cover how to create money makers that will earn cash with very little input from you. This means once you have it set up, it can run on its own, or with very little follow-up work.
9. Use Investment Apps
Download and sign up for an investment app to automatically invest money for you without hardly any effort on your part.
These apps include:
- Acorns – create savings by rounding up your spare change or having an investment portfolio
- Digit – tracks your earnings and spending and transfers an amount to savings that suits your budget
- Chime Bank – Not only will you earn cash-back on your checking account, but also has round-ups and rewards
These run by themselves and need very little input from you and you may be surprised at how much you end up making.
10. Have Investment Properties
This could be a very good profitable income with only a bit of work in the beginning.
Buy one or a few investment properties and rent them out to monthly renters, or list them on Airbnb for a steady income with very little effort.
How much can you make? Let’s imagine we had:
- A 2-bedroom Atlanta rental making $1,300 a month
- A 3-bedroom Orlando vacation home on Airbnb making $3,870 a month
- The total monthly income comes to $5,170
- The total overhead of managing these properties is $516 (3% Airbnb fees and $400 property maintenance in Atlanta)
- After costs your monthly profit would be $3,354 a month!
That, of course, is if you own the properties free and clear without mortgages. Suppose you do pay mortgages on both of them totaling $2,000.
So, the actual monthly income would be closer to $1,354 a month, which is still a great monthly income.
Be sure to do all your research, figure out how much it will cost for property taxes, property management fees, utilities (if not including them), and many more financial numbers.
11. Create Passive Side Hustles
These may take some work in the beginning, but once completed they earn on their own.
Passive income ideas include:
- Write eBooks
- Create apps
- Sell digital products
- Sell courses
- Place advertisements on your car
- Sell your designs
There are so many ideas to look into!
You can accomplish several things that indirectly affect how much money you can have in a month but doesn’t really “make” money per say.
These actions include:
- Create a budget ant sticking to it – you’ll be surprised how much more money you do have
- Declutter your home – Been watching Marie Kondo on Netflix? Sell off your stuff for more pocket money
- Enact a spending freeze – Don’t spend any unnecessary money in a time period
- Be frugal – Save on electricity, groceries, go out less, cook more, and other ways
I’ve given you a countless number of ideas to get started, but I want to mention one more money generator that didn’t really fit the other categories – but can make a big difference to your bank account.
I hope I sparked some creative brain-storming ideas for your own successful money generators. Let us know in the comments if you’ve come up with other ideas too.