Author Topic: Ideas to Supplement my income  (Read 2779 times)

truman47

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Ideas to Supplement my income
« on: August 01, 2016, 05:47:45 AM »
Hello,

I am looking for some ideas on how I can supplement my income. I'm currently working full time and earn a decent salary but I want to try and get my credit card bills payed off sooner.

I've searched for similar posts as I was sure this must have been asked before but I wasn't able to find anything.  Any help appreciated. 

ShoulderThingThatGoesUp

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Re: Ideas to Supplement my income
« Reply #1 on: August 01, 2016, 05:51:12 AM »
1. Reduce spending further to free up more money to clear debts
2. Overtime at your current job if it pays overtime
3. New, higher-paying full-time job
4. Part-time work in off-hours

There isn't any particular magic...you gotta work to make money.

nereo

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Re: Ideas to Supplement my income
« Reply #2 on: August 01, 2016, 05:54:56 AM »
Some reading: http://forum.mrmoneymustache.com/ask-a-mustachian/who-has-a-side-gigjob-that-brings-in-extra-cash-share-with-us!/

Without knowing what your skills are, what your schedule is and what you like to do (teach? Carpentry? Crafting? Art? Program? Musician? Clean?) there's no telling what a good side gig for you would be.

As Shoulder said - generally speaking you get more oomph out of optimizing your current living situations than starting a side-gig.  Side-gigs are often hobbies that have a side-effect of generating cash-flow.

bballfreakunc

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Re: Ideas to Supplement my income
« Reply #3 on: August 01, 2016, 07:04:56 AM »
As Shoulder and Nereo have said, the best way is to minimize your expenses. However, if you're truly interested in generating side-income, I've had really good luck with the Moonlighting App. Moonlighting is an exchange of people who need stuff done and people who want to do stuff. I'm the latter and I've found consulting work on Moonlighting but also seen tons of other types of jobs such as electrician, plumbing, handyman, moving jobs and more.

Moonlighting: http://www.gomnlt.com/mnlt/sign_up/?SubAff=1061

truman47

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Re: Ideas to Supplement my income
« Reply #4 on: August 02, 2016, 03:14:53 AM »
Thanks for the replies.  I'm on a Salary so can't earn extra money unless I change jobs which I am considering and looking at jobs now.  I d0nt really have any skills other than the fact that I m. Dry good with computers and computer repairs etc, but it seems that every man and his dog does that these days. 

I've started trying to cut out on my expenses by quitting smoking at tnhe start of the year and I've stopped buying food at work and take my own but I'm still years away from paying off my credit card bills and I'm trying to get this done as soon as possible. 

former player

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Re: Ideas to Supplement my income
« Reply #5 on: August 02, 2016, 03:37:29 AM »
Thanks for the replies.  I'm on a Salary so can't earn extra money unless I change jobs which I am considering and looking at jobs now.  I d0nt really have any skills other than the fact that I m. Dry good with computers and computer repairs etc, but it seems that every man and his dog does that these days. 

I've started trying to cut out on my expenses by quitting smoking at tnhe start of the year and I've stopped buying food at work and take my own but I'm still years away from paying off my credit card bills and I'm trying to get this done as soon as possible.
Congratulations on quitting smoking, which is a badass mustachian thing to do, as is taking home cooked food to work.

You might take a good look at your work contract.  It is more likely to say "can't be employed by anyone else" than it is to say "can't earn any money from any other means".  So self-employment (even babysitting, dogsitting, cleaning if you truly don't have skills) might still be an option.

Although many people are good with computers, nearly everyone has a computer of some sort, most of us aren't good with computers and a number of us worry about finding good and reasonably priced help when we need it.  You could for instance start in a very minor way with a flier to the other people in your building/street offering advice to beginners/basic technical help.  "Do you have an old computer, laptop or phone that no longer works or doesn't work well?  I can help" might well bring you a number of interesting opportunities to repair/buy and sell.

If you are interested in getting more fundamental advice on your situation, a case study might get you some more ideas -

http://forum.mrmoneymustache.com/ask-a-mustachian/how-to-write-a-'case-study'-topic/

ShoulderThingThatGoesUp

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Re: Ideas to Supplement my income
« Reply #6 on: August 02, 2016, 06:23:27 AM »
You've made some big steps. How about your living situation and commute-anything you can do there?

I agree that a case study would probably do you good.

swick

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Re: Ideas to Supplement my income
« Reply #7 on: August 02, 2016, 07:21:07 AM »
If you are good at computers and repair, you might want to look into offering technology lessons or set-up assistance for the elderly, either one on one in their home, or through a community college or other organization. Hubby did some of this after university while looking for a job and did pretty well.

Mother Fussbudget

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Re: Ideas to Supplement my income
« Reply #8 on: August 02, 2016, 11:37:03 AM »
Some reading: http://forum.mrmoneymustache.com/ask-a-mustachian/who-has-a-side-gigjob-that-brings-in-extra-cash-share-with-us!/

Without knowing what your skills are, what your schedule is and what you like to do (teach? Carpentry? Crafting? Art? Program? Musician? Clean?) there's no telling what a good side gig for you would be.

As Shoulder said - generally speaking you get more oomph out of optimizing your current living situations than starting a side-gig.  Side-gigs are often hobbies that have a side-effect of generating cash-flow.
+1.  This topic comes up all the time, and has been covered extensively by mustachians of all shapes, sizes, and economic backgrounds.
Search "Side gigs", and read through some of the topics that come up
(or use your favorite search engine, and paste in: "forum.mrmoneymustache.com side gigs")

AND congrats on kicking the smoking habit - [we] can only get rich $10 at a time, and cutting out smokes saves SO MUCH.

snogirl

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Re: Ideas to Supplement my income
« Reply #9 on: August 02, 2016, 02:13:31 PM »
My side gigs to get out of 44.6k of debt started April 2014 (Paid in Full 6/30/16)

1. Kept a small notebook tracking every cent I spent everyday.
Pay bills?  Write it down.  Buy coffee?  Write it down.  Grocery Store? Write Down. Lunches, Movies, popcorn? Write it down.

2. After a month I saw where all my money was leaking out of my wallet. 
I got sick of writing down daily purchases after I had my spending awareness.  The exercise create a shift for me.
I eliminated all unnecessary expenses,
 I mean, Costco, Netflix, Cable, the Internet, my gym membership (you can work out for free), Amazon Prime, Audible, Pandora One, any subscriptions services. 

3.  I inventoried all my possessions, everything.  If it didn't add value to my life, I sold it on Craiglist or websites or ebay.
Yes de-cluttering can be a side gig and you don't even have to leave your house!

4.  Coupled with the no spend/no frills finance plan and the decluttering, I mowed lawns, told friends I was looking for side work, pet sitting, weeded gardens. 
For $20-250 depending on the work/commitment.  Just put the intention out to the universe that you will get out debt and you will get side gigs.  Money will come out of nowhere. 

 

truman47

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Re: Ideas to Supplement my income
« Reply #10 on: August 02, 2016, 06:40:38 PM »
@ former player...What I meant was I cant do overtime and earn more money in my current job because I am on salary. Not that I'm not allowed to do extra work anywhere else.

I have a company car so fuel costs aren't an option but i am looking at moving. I currently pay $395 a week for rent in a 3 bedroom house which I really don't need. Another option is to rent out one of the rooms but I might be better off moving to a smaller 2 bedroom unit instead.

I do live in an estate and am on the Facebook page for the estate so it might be worth my while advertising my computer services. i am also good at fixing electrical items. (I recently fixed my neighbours flat screen TV) so thats another option I guess.

i am still yet to do a case study but did look at my day to day expenses as mentioned in this post below and was very surprised at how much money I waste on food and beer etc.

http://forum.mrmoneymustache.com/welcome-to-the-forum/just-starting-how-do-i-kill-some-of-my-unecasary-expenses/msg1158773/#msg1158773

@ Snogirl...WOW that is amazing. I've got around $18k debt and would lvoe to have it all paid within two years.