A big part of living inexpensively is about saving money but the other part is about making more money. No matter how much we save, we must find a way to out pace the cost of inflation.
The best way to make more money without waiting to be hired by someone else is to figure out what it is you can do to earn money. This may seem weird, especially if you have what we’ll call a ‘worker bee’ mentality. The ‘worker bee’ subscribes to the notion that “the only way to get income is to work for someone else.”
This is so far from the truth!
In order to use your assets, you must first take inventory of what you do everyday and decide if you would consider offering that service for a fee.
- Do you homechool? Why not offer to teach a subject to a child in addition to your own for a fee.
- Can you sew or crochet? Consider doing alterations or selling items on Etsy.
- Do you blog? Consider placing ads on your blog or becoming a paid contributor for another website.
Taking this step takes confidence. You must believe that what you have to offer is worth money. Do you have a skill to share? Teaching a class is a great way to start. I’ve earned an average of $27 an hour teaching coupon workshops twice a month. I’ve also compiled the information I teach in the workshop into a downloadable Ebook that generates an income as well.
Another idea for generating income is participating in yard sales. My community sponsors a yard sale 3 times a year, and I take full advantage of this opportunity to get rid of unneeded clothing and household items. I also sell items that I have stockpiled, as a result of couponing, especially for this event.
This year I spent 8 hours selling items and earned $240. That’s a net profit of $24 an hour, if you add in 2 additional hours for set up and clean up.
The key to using your assets to make money is to identify your talents. Once you do that the possibilities are endless.
What talents are you using to earn extra income?