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7 Ways To Make More Money In 2011

16 January 2011 42 Comments

incomeThe focus of the personal finance universe is typically about how to stretch your money further.  It’s not very often that people recommend ways to make more money.  It’s almost as if making more money is impossible and something that you have no impact over.  It’s essentially the employee-for-life mentality that most people have.  I don’t like this mentality.

Here are 7 ways I think you can make some more money in 2011.

#1 – Get a raise

Let’s start with your current job.  Even the most dead-end-feeling job in the world can often have additional opportunities if you look in the right place.  Start talking to your boss and maybe managers/executives in other departments about additional responsibility.  If need be, offer to take on an additional role without an increase in pay for the short-term for the opportunity to prove yourself.  In a tough economy where opportunities don’t exactly present themselves, you need to get find them, leaving no stone unturned.

#2 – Get a job

If you’re unemployed, it’s time to get a job.  Any job.  If it means you have to bag groceries for the short-term, you need to go do that.  I’m a believer in momentum, so even getting off the couch and doing a job you don’t want will help you move towards that bigger and better job.  You might just need to get moving.

#3 – Get a second job

I know a couple of my peers have been cut back with regards to their job and hours needed to work.  Some of them get off at 2pm on a daily basis.  Furthermore, some of these guys are single and have no obligations.  Man, you got to go get a second job in this situation.  Work nights if you have to doing something else.  Don’t settle for what is given you.

Additionally, some young 20-somethings that don’t have a family might want to consider a second job even if you’re already working full time.  What a way to earn some money and put it away for a house or other future opportunities.  Most people won’t consider this, but some might.

#4 – Start a website

Make money online.  That’s too hard and I wouldn’t know where to begin, right?  It’s not as hard as  you think, and a couple years ago I was in the same situation as you.  Now, I bring in a few thousand a month from my online income streams.

If you’re reading this,  you get a chance to preview my Online Income Case Studies.  They haven’t been officially released, but I’m going to allow my 20smoney readers to have first crack at them.  You can click here to take a look at my brand new project, my online income case studies.

#5 – Do some freelance work

Whether it is freelance web design, freelance writing, freelance photography, freelance whatever, I’d encourage you to pursue it.  This type of freelance work can lead to a viable business and it won’t require you to quit your current job.  Many people transition into entrepreneurship via the path of freelance work.

#6 – Cash-flowing real estate

If the situation is right, you could boost your income this year by acquiring a cash-flowing piece of real estate.  There are so many variables and you really need to know what you’re doing, but this is indeed a possibility.  Personally, I think better buying opportunities lie ahead as we are firmly entrenched in a housing downturn, but depending on the circumstances, you could definitely make this work.

#7 – Handy work around the neighborhood

If you have some lawn equipment or some handy skills, you could get some income going by doing some work around your neighbor’s houses or doing some lawn work.  Offer to take care of something for your neighbor if you’re doing it for yourself anyways.  Offer a good rate and you should be good to go.  This could be some easy grocery money for you on a regular basis.  Offer an incentive to your “clients” to refer you to others.

Have another suggestion?  Add it to the comments below.

42 Comments »

  • Matthew said:

    An option for a second job that few people consider is officiating high school and middle school sports. I picked up basketball refereeing about 4 years ago and joined a volleyball chapter 2 years ago. Both are enjoyable and provide extra cash. Working full time and having a second job can get tiring so I plan on sticking with these two sports which last about half the year but more sports are available.

  • 20smoney said:

    Matthew, what's the typical pay for something like that?

  • Matthew McCall said:

    In Texas, basketball officials are paid $55 for a varsity contest. Sub-varsity games are $40 and middle school is $30. All schools also are required to pay mileage based on a metro-flat rate plan. This week, for example, I will earn $110 + $72 + $110 + $150 = $442 for 3 evenings "work" plus Saturday morning.

  • 20smoney said:

    That is pretty good money for a side gig. Well done!

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  • @Financially_Me said:

    I'm a college student taking intense classes with 3 jobs (server at a wedding venue, cashier at a bookstore, and a nanny). I wanted to point out being a nanny for those who need some extra cash. It isn't a hard job and you get paid to play basically. I babysit a 6 month-old and when he takes a nap, I begin reading and studying for my classes. Also, I love crafts and I never thought about selling my work until now that I am incredibly broke… I guess there are endless ways to make money, and we don't begin to seek them until we are faced with high debt and other adversities.

  • Dan W. said:

    Develop a web-based skill, say web design or web development.

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    Have a unique ability to pen the written word? Have a solid grasp of grammar, spelling, and communicating? You could become a freelance writer for newspapers, magazines, or other local periodicals. THAT could help you make extra cash! Don’t be afraid to endure a lot of “No’s” and you’ll eventually get that “Yes” that can give you some instant credibility. You can always build a portfolio by guest posting on blogs or by submitting articles to your local newspaper.

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