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How To Make Extra Cash

>> Thursday, September 22, 2011

Came across an article on asiaone on how to make extra cash. It listed 10 ways:
1) Sell your unwanted stuff
2) Rent out your spare room
3) Get a part-time job
4) Get paid to do surveys
5) Become a mystery shopper
6) Sell your skills
7) Make money out of your hobby
8) Show off your problem-solving skills
9) Get paid to baby-sit
10) Sell advertising space on your website

Basically, most of them required an exchange of time for money, more specifically Item 1, 3, 4, 5, 6, 7, 8, 9. This is no different from your current job. In fact, it should be weighed vis-a-vis the per hour rate of return. If it does not, I would prefer to focus on improving my value add to the organisation to move up or be in demand from external. It is not practical for full time employees who require a minimum amount of work-life balance, unless one is a full time home maker.

Some per hour rate job that stands a higher possibility of return in my opinion would be tuition, photographer, property agent, insurance agent, but may require the specific skill or clientele base. So, bottom line is, the alternative needs to be practical, else the suggestions can be endless, like petrol pump attendant, coffeeshop assistant, 7-11/Cheers cashier, car wash cleaner, janitor, security guard.. I believe you get my point.

Item 2 is only possible but most are uncomfortable with a stranger living together. It is indeed a serious alternative to consider as it does not involve time to be exchanged for money directly. However, not everyone has a spare room to begin with.

Item 10 is also good possibility as it again does not require direct effort. However, the revenue generated could be quite insignificant for the majority. Unless your site is a real success like those celebrity bloggers.

Well, I am not just critisizing alone, but I believe it is important that the suggestions should not involve time to be directly exchanged for money. That is why we find a job in the first place, then it is just finding a second job. Everything will crash when we fall ill or due to unforeseen circumstances.

My personal 5 suggestions (which everyone is free to critisize as well, appreciate if they were constructive though) would be:
1) Rent out. Why not go all the way and rent out the whole unit, stay in one room instead. Obtain another property and gain more rental income, touching on point 5 now.
2) Sell advertising space on website
3) Write and publish a book on any topic of interest (Cooking, Where to Eat, Gaming, Investments, anything)
4) Build a business (MLM, Property Agency, Insurance Agency, Tuition Agency, Franchising, Consultancy, Faciltating, anything)
5) Invest for passive income and capital appreciation (Property, REITs, stocks, UT..)

Well, no one said it would be easy.


Calvin September 23, 2011 at 12:53 PM  

I could really use some money by selling my unwanted stuff. I got too much trash sitting unused in my storeroom. i.e. my gym equipment etc.




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