Tips to Earn Extra Money This New Year
March 1, 2016 / Sara Davis / Make More Money
Many people have a goal of saving money.
According to Statistics Brain Research Institute, 34% of people who make New Year's resolutions had some kind of money-related goal for this year.
A common school of thought is to cut expenses and budget better to save more money. If you are someone who splurges frequently, this is probably a good solution.
But if you're someone who already watches how you spend income, budgeting and strategizing might only take you so far. Instead, the answer might be as simple and impossible-sounding as "make more money."
While this might sound difficult, it doesn't have to be. The fact is, there are many opportunities for you to bolster your income, no matter what your skillset is.
Using Your Writing & Language Skills
Becoming a mystery shopper is a great way to make some side cash.
Plus, you might get to eat at a fancy restaurant for free. Money Talks News recommended checking out Volition.com to find legitimate companies offering mystery shopping opportunities.
Sign up for one, then, the company will tell you where to go and what to do there. It could be to order something specific, ask certain questions or return an item. After your experience is over, you will need to write about the details of your experience. This helps restaurants and shops improve based on customer experiences.
The Penny Hoarder explained bloggers also value people who like to write. Some will even pay writers up to $100 to write a blog post for them. All you need is some knowledge of the blog's subject matter.
Or, if you have a lot to say, try starting your own blog.
According to Forbes contributor Laura Shin, a blog with ads and other links on it can earn a person some serious money. Shin pointed out that blogger J. Money was able to earn $400,000 in seven years through his well-received money-related blogs.
Bilingual and multilingual speakers have a skill set many people don't.
According to Psychology Today,only about 20% of U.S. residents speak two or more languages. This skill set is sought-after. The U.S. Bureau of Labor Statistics predicted that employment for translators and interpreters will increase from 61,000 jobs in 2014 to 78,500 in 2024.
If you speak a second language, you can become a full-time translator or interpreter, making about $43,590 a year. If you don't want to quit your current job, there are plenty of freelance opportunities as well.
Money Talks News suggested heading to Gengo's website, where you can post your resume and look for jobs.
Using Your Smart Phone Skills
If you're constantly checking your phone, there are plenty of money-making opportunities that will suit you.
The Penny Hoarder explained Nielsen is always looking for people to share their shopping experience.
Just like stores and restaurants use mystery shoppers to improve how they handle customer relations, companies like people who join the Nielsen Consumer Panel to see how they can better market or improve their product.
Nielsen explained that it takes about an hour a week. You scan all your purchases and give the company the data. They will call you occasionally to get your opinion and feedback. In return, you get points, which can be converted into rewards.
Some companies will pay you to simply download their app and keep it on your phone, The Penny Hoarder said. While it's on your phone, it will collect data about how you use your phone. This helps companies better understand the average consumer. It might record what times of day you use your phone, what apps you use, how long you use them and other things like that.
Money Talks News explained some other apps will earn you money in a different way. Some ask you to perform a specific task, like going to stores and taking photos of displays or recording prices and inventory levels. Apps like these help companies gather market research and will earn you extra money.
Using Your Teaching Skills
There is always a demand for tutors, whether it's a parent looking for someone to help their elementary school student earn better grades, a high school senior who wants to do well on their SAT or an adult trying to learn a new skill. If you have knowledge in a particular area and have good teaching skills, tutoring can bring in a good chunk of change.
Money Talks News suggested inquiring at local colleges and schools to find tutoring opportunities. Shin explained it might be beneficial to join a test prep group like Kaplan to find jobs. Or, start a website to target adult learners.
With some time and a little creativity, it doesn't have to be hard to supplement your income. Making some extra money on the side is not only rewarding, but it can also help you reach your savings goals this year.
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