Ways to Make Money

The inflation rate is no longer astronomical, but the cost of everyday services and goods is still high. As a result, many are looking for new ways to make money quickly to supplement their income, pay their debts, and have some extra cash for emergencies.

Even if you have a steady job and decent income, you could still benefit from a side gig — or two. The good news is that there are countless ways to make money.

Some of these methods require a bit of time and effort to get started, while others have a low barrier of entry and can start making you money nearly right away. Depending on the method you choose, you might need specific qualifications or experience. However, most options have minimal requirements and are flexible enough to fit into any lifestyle.

If you’re looking for new or interesting ways to earn some extra cash, here are the top methods to consider.

Or, if you need quick cash now to cover a financial hardship, consider applying for an online installment loan through Jora. If you apply and accept your loan before 10:30 a.m. Central Time on a non-holiday weekday, you could receive the money the same day.*

Sell Secondhand Clothes and Accessories

If you’ve got a wardrobe full of clothes, shoes, and accessories that you no longer need or use, you might be able to sell them online for some quick cash. It does not need to be new, but it should be in good condition. And if it still has the tag, that’s even better.

Many online consignment shops let you sell your things on their platform. Popular platforms include Depop, ThredUp, and Mercari. If you want to eliminate the middleman, use a website like Facebook Marketplace or Craigslist.

To attract customers, you may need to create an online store for your things. Try to take quality photos and write compelling descriptions to encourage customers to purchase.

Sell Electronics and Household Items

Another option is to sell other personal belongings or household items you have but no longer use. These can include kitchen appliances, tools, furniture, and electronics. Depending on the item’s quality, you could earn a decent amount of money.

One of the easiest ways to get started making money this way is to go through an online platform where you can set up a shop and start selling items. This includes sites like eBay and Facebook Marketplace. You can also go to a local thrift shop and sell your things there, though the shop might take a cut off your profits.

If you have electronics, you might also be able to trade them in for cash or store credit. Best Buy, for example, allows trade- ins in exchange for a Best Buy gift card.

Sign Up for Rideshare or Food Delivery

Companies like Uber and Lyft, as well as food delivery companies like Grubhub and DoorDash, frequently hire new freelance drivers. To get started, you’ll typically need a reliable vehicle, proof of residency, a valid driver’s license, and vehicle insurance. You’ll also need to be a certain age — usually 18 or older.

People who drive for Uber earn $19.29 per hour, on average in 2023. And if you combine two or more of these services, you could make a decent amount of money.

Get Into Freelance Work

The gig economy is booming. In fact, there are approximately 73 million freelancers in the United States.

Many types of freelance work exist, such as freelance writing, graphic design, and web development. With a lot of these options, you can work from home as long as you have a secure internet connection, a reliable desktop or laptop, and the right software or equipment. This makes the barrier of entry pretty low for most people looking to make money without a significant upfront investment.

Before choosing the type of freelance work, ask yourself what kinds of skills you have and what you’re interested in doing. From there, it’s a good idea to set up a website and create a portfolio showcasing your best work. Once you’ve done that, start networking with people to find clients and earn money.

To make things even easier, start your freelancing journey on an established platform like Upwork or Fiverr. As you get more comfortable, you can always strike out on your own.

Sell Crafts Online

Another way to make money online is by crafting and selling items on sites like Etsy. You can sell virtually any handcrafted item online, such as necklaces, cups, table decor, paintings, coasters, and pins.

If you go through a platform like Etsy, you must create a free online shop. You might also need to have multiple listings before you start getting potential buyers to visit your shop. This can take some time and persistence, but once you start getting noticed, you can earn decent money.

When pricing your goods, remember that most platforms will take a percentage of your earnings. Etsy, for example, takes 6.5% of your sales.

Start a Podcast or YouTube Channel

If you have a great idea, specific interest, and a knack for speaking with others, consider starting a podcast or YouTube channel. Through these methods, you can turn your passions or experiences into a personal brand and earn money as a content creator.

Be prepared to put in the time and effort, however. While being a content creator in these ways can earn you supplemental income — or even replace your day job — it will not be quick. You’ll need discipline, commitment, and patience.

Take YouTube, for example. Before you can start earning money, you’ll need to have at least 500 subscribers and three or more public videos in the past 90 days. You’ll also need either 3,000 public watch hours or three million public Shorts views within the past 90 days. If you’re still growing your audience and want to make money sooner, you can also use affiliate marketing or a donation platform like Patreon or Ko-fi.

Become an Airbnb Host

If you have a spare room or a vacation home you do not often use, consider listing it on Airbnb. This could be very profitable, especially if you live somewhere that receives a lot of tourism or has a unique offering.

The average Airbnb host earns nearly $14,000 a year. But like other online platforms, Airbnb takes some of your earnings.

Create an Online Course

Making an online course is another profitable way to make money. You’ll need to choose a lucrative niche, such as entrepreneurship, vocal studies, or house-flipping.

What’s great about this option is that once you’ve created the course, you can continue to earn passive income without having to do anything else. You can still go back and update your course or even change its pricing.

Teachable, a popular course creation platform, recommends you price your course at 100 when starting. Depending on the topic, the course’s complexity, and your following, you can always raise your prices.

Other Ways to Get Money Fast

Although any of these methods can help supplement your income, sometimes you might need emergency cash or another way to get money quickly. If you need a loan, here are some top types of loans to consider.

Friend or Family Loan

When even fast loans are not quick enough, you may be better off asking a friend or family member for a cash loan. This can especially help if you need money now and do not have time to go through a loan application. It’s also helpful if you want to avoid interest or other lender fees.

Before borrowing money from someone you know, it’s important to consider a few things. Start by asking someone who is not in a financial bind. Make sure they’re someone you have a good relationship with as well.

You might also want to create a basic outline of the terms and fees — if any — for the borrowed amount. This will get everyone on the same page and prevent potential confusion or issues down the road.

Cash Advance

With a cash advance app, you can request a portion of your upcoming paycheck ahead of time — usually a few days early. Some cash advance apps come with service fees or interest, while others are free. Certain apps might come with an optional tipping feature.

Most cash advance apps have minimal requirements, making them a solid source of emergency money. However, you may need an active checking account and direct deposit through your employer.

You can do a quick online search for “cash advances near me” to find in-person options. Or you can search for highly-rated apps with minimal fees and a short setup time.

Payday Loans

If you need money now, a payday loan could be a good short-term solution. Payday loans are very short-term loans that typically come in amounts of around $500. You can use the money to cover unforeseen expenses like a flat tire or a surprise medical bill.

Unlike most personal loans online, payday loans do not typically require a credit check. Payday loans are especially convenient for borrowers who do not qualify for other types of financing. Plus, payday loan lenders — especially those offering online payday loans — often disburse funds within a few hours or a day of applying.

Payday loans do come with a few drawbacks, however.

Since they come in relatively small amounts, they might not be enough to cover every financial emergency. Most of these loans also have a repayment term of two to four weeks, making them difficult to repay on time. Unlike installment loans online or other personal loans for bad credit, you must also pay back what you owe — plus any financing fees — in a lump-sum payment.

You can find payday direct lenders by typing in terms like “payday loans near me.” Keep in mind that payday loans are not legal in every state.

Other Loans for Bad Credit

If you’re in a financial pinch and need cash fast, consider other in-person or online loans for bad credit. Some of the best loans for bad credit include:

• Pawn shop loans: A pawn shop loan is a small emergency loan from a direct lender — a pawn shop. You must trade in something valuable, such as a television or jewelry, to get funds. You’ll then need to pay back what you owe plus interest when the loan is due. Otherwise, you could lose your personal item.
• Title loans: A title loan is another direct lender bad credit loan. With one, you’ll give the lender your vehicle’s title in exchange for fast cash. You’ll typically have 30 days to repay the loan, plus lender fees.
• Payday loan alternatives (PALs): PALs are an alternative to payday loans. Credit unions offer PALs to current customers who need emergency money now. These come in relatively small amounts, ranging from a few hundred dollars to $2,000. The repayment term is between one and 12 months.
• Other near-instant loans: See what other direct lender loans are in your area by performing a quick internet search or asking around for the best options.

Installment Loans

If you need a fast loan from a direct lender, consider installment loans online. These loans come in many different forms, such as short-term loans, emergency loans, and even personal loans. You can get them from online installment loan direct lenders, like Jora, or from brick-and-mortar banks or credit unions.

With most installment loans, you can use the money as soon as you receive it for nearly any purpose. This includes car repairs, home improvements, medical bills, emergencies, and other expenses.

As with other loans, you must repay what you borrowed plus interest. Unlike with other bad credit loans or short-term loans, you typically have several months or even years to repay the loan. Each payment — or installment — will cover part of the principal balance and interest.

Look for a lender that offers flexible repayment options, a streamlined application process, and transparency — that is, no hidden fees or costs. Although some installment loans come with stricter eligibility requirements, there are also bad credit installment loan direct lenders out there.

Conclusion

Ultimately, there are so many different ways to make extra money. With many of these options, it’s easy to get started and start earning nearly right away. Others take some time to set up.

If you need money quickly and do not have time to take on a side gig, you might consider borrowing money from a loved one, getting an emergency loan, or applying for an installment loan.

Jora is a direct lender offering installment loans online for borrowers with bad credit or limited credit history. These loans come with no hidden fees and have flexible repayment options. Plus, the online application process is streamlined and quick, taking only a few minutes to complete. Depending on what time you apply and are approved, you could receive funds the same or the next day.