5 Quick Ways to Make More Money This Month

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Last month all posts focused on saving more money, frugality and the connection to minimalism and the environment. I love setting up frugal habits, but if done to excess it can feel like you never have enough money, can’t spend your money, can’t give it away, or feel trapped to always save. While I love to save, I believe there is a balance achieved between spending, saving and investing. Money is just a means to trade quality goods and services. Spending money is just as important as saving, because you get to give of your money to people who have created a service or good that benefits you. However, you have to have money to spend money and that’s why these 5 quick ways to make more money this month are necessary.

Furthermore, you can save all you want but to reach your financial goals quicker you’ll need to increase your income. That’s why this month’s theme is “Make More Money May!” I’m a teacher by trade and have felt the burdens of not providing enough income, or feeling like I’m just scraping by. As a result, I’ve become a master at stretching a dollar, creating side hustles, and investing. I take pride in my teaching abilities. Unfortunately, it’s not a field that is rewarded with monetary gains, but I don’t let that stop me from increasing my income and investing for my future and you shouldn’t either.

Just Decide

If you’re on a minimalism journey like myself, you will start to notice pockets of time that could be used to bring in new income streams. Making more money isn’t that difficult. You first have to decide. A few years ago my husband and I came to the conclusion that if we continued on our current income levels we would be in debt and scraping by for around 20 years. We were already pretty frugal because of necessity. We decided that we needed to increase our income to dig ourselves out of the student loan hole.

This resulted in asking for raises, being denied, being accepted, working two jobs, seeking new employment, starting a side hustle, and selling stuff. We did this all within the throws of becoming new parents. I don’t recommend the timing to anyone. We managed to make it through and gained a lot of incredible experience along the way.

There is nothing wrong with deciding that you need to increase your income. In fact, trying to make more money is a noble cause. With more money you can give more freely, provide quality services, and ultimately create a life for you and your family that you love. Don’t forget. You have a job to make money. Of course, if you’re lucky you have a job that also fulfills you. Isn’t that what everyone is after?

What is Your Income Goal?

Since we’re being vulnerable, I have a goal to make more money. I want to make $15,000 more a year. I want this number because after you reach this income level happiness plateaus. I want to make just enough and then stop climbing. Make just enough and be content, live with less, and spend my time doing things of value.

Perhaps my goals will change in the future, but setting an income goal is not something to be embarrassed about, and you shouldn’t compare your life to anyone else’s. I’m in a much different game than a doctor or a lawyer, but that doesn’t mean my talents are any less, or that I can’t increase my income.

5 Quick Ways to Make More Money this Month

Here are 5 quick ways to make more money this month! Try out a few and make some extra cash to reach your income goals for this year.

Sell Stuff to Make More Money

This is the easiest and quickest way to make a buck and chances are you probably have stuff that you can sell in your home already. I’m currently selling a couch and chair on Craigslist and FB marketplace. Clothes, furniture, jewelry and appliances are all items you can sell for cash pretty easily through an online marketplace like Amazon, or locally through FB marketplace and Craigslist.

Get a Part-Time Job to Make More Money

If you already work full-time somewhere a part-time gig is doable. If you also happen to have children, additional part-time work comes at a cost, since you will see your children less. However, before I had my daughter I always worked a second job thanks to the low salary of a fledgling teacher.

You could get a job on the weekends as a server, bartender, construction worker etc. The economy is great. Start applying! It’s possible. Especially if you are young and without children.

Ask for a Raise to Make More Money

As a teacher, I never could ask for a raise, but when I moved into the online learning environment run by a business model I put off asking for a raise for 2 years. I eventually got up the nerve to ask, was denied initially, then looked for other work, needed a recommendation letter, and then ultimately was given my raise. Perhaps my possible absence was more noticeable and a raise became necessary? Have you asked for a raise this year?

You can also ask for more responsibilities at your job for extra pay. As a teacher, this was usually non-existent unless I wanted to coach, which I found left me more exhausted with less time. However, if you’re not a teacher, ask your boss if there are other side projects you could complete for extra compensation. My online teaching job usually offers side writing projects that I can take on when I have the time.

Don’t be afraid to ask what you are worth. I decline side projects that take too much time and don’t pay me accordingly. Also, because I have a side-hustle I only take on projects that I know will be worth my time. If I know I can make 50$ an hour tutoring, I only take higher paying side jobs as well.

Start a Side Hustle to Make More Money

My best and most lucrative money making technique has been starting my own tutoring business. Initially it was as easy as putting an ad. on Craigslist. The tutoring business came to mind because I happen to be an excellent teacher, and I enjoy working with students. Also, I missed the classroom. After becoming a mom I switched to a full-time work from home job.

Because of this flexibility, I could basically turn my hobby (teaching face to face) and my talents into a business. I charge 50$ per 45 minute session with each student I take on, which as a teacher, is the most I’ve been paid hourly ever. Starting a tutoring business has shown me that my talents are needed. If interested in starting your own tutoring business, you can check out my sales page here for inspiration.

You don’t have to start a tutoring business. It could be any business: cleaning, dog walking, health coaching, freelance writing, virtual assistant, laborer, handyman/woman etc. The great benefit about starting your own business is the flexibility you gain. You can set your own schedule, charge a quality price, and work with people you enjoy. It’s a ton of fun!

Invest More to Make More Money

How much of your take home income are you actually investing? Investing more can be as easy is setting up automatic payments, which takes less than 10 minutes if you already have a retirement account. If you spend most of your paycheck on random stuff, or bills think of ways you can cut down your monthly expenses. This will give you more money to invest into an index fund or your retirement.

Money sitting in your savings account is technically losing value compared to investing it at a much higher return interest rate. Also, if the company you work for provides the option to take out money straight from your paycheck into a retirement fund, you can lower your taxable income. Obviously, invest knowing that you won’t be taking that money out anytime soon.

A few amazing financial changes have come our way this year, and we are finally able to invest more money into our retirement. My goal is to live off 50% of our income and invest/pay off debt with the rest. We are pretty close to that goal, and our lifestyle hasn’t really changed that much. What’s cool about investing is that you don’t really see the money coming in. I forget that money I put away even 5 years ago has grown without me lifting a finger. I love the benefits of compound interest!

Final Thoughts

Making more money often begins with deciding. Decide that to meet your family’s financial goals, more income would help. These 5 quick ways to make more money this month are only a few ways to increase your income . You just have to be willing to accept that you want more, and take action. Making more money can be really fun, and it doesn’t have to be something to be ashamed of.

When I started my tutoring business, I was initially embarrassed to tell people, because by telling people I was admitting that our family needed more money. Well, no shit we needed more money! We were swamped in student loan debt, like many other millennials are. Turns out, the more I talked about it, the more I realized other families were in the same boat. Perhaps your new business idea will inspire others around you to stop blaming the debt, and instead get busy raising their income?

P.S. I always ask readers to follow me on Instagram, Pinterest and Facebook. I consciously try to document my everyday simple life. Since we happen to be on a debt free journey, it can be motivating because most of my activities are intentionally inexpensive. However, if you’re trying to cut out social media, you’ll need to subscribe directly to this blog.

Join the Discussion

What is one way you have made extra money this year? Which one of the 5 quick ways to make more money have you tried?

Author

-Maria Halcumb
B.A. in Secondary Education, English, and Physical Education
M.A. Ed. in Curriculum & Instruction and Reading Specialist