Would more money make a difference in your life? Here are 7 simple ways to make more money from self-made millionaire Ann Wilson to get more out of what you’ve already got and bring more money in
1. Plug the Leaks, Clear the Rats and Squeeze the Juice
It’s not what you earn that matters but what you do with it. There is no point earning more money if you’ve got leaks and rats in your money pantry. Look back at three months in bank statements and see what is really going on. See where your money is going and if you are really getting the most value from it and if there is a way you can have the same thing or experience without that cost. Look at bank fees, subscriptions, direct debits and other expenses you forgot about or which aren’t bringing you value. Do you really use that gym membership or all the channels on the TV subscription or would you be better off working out for free on YouTube? Also look hard at your insurances as these are often a big source of money rats. Get creative and see how you can have more for less.
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2. Blitz that Debt
If you’ve got any debt in your life, this is the place to get more money for you. Consumer debt is the biggest guzzler of your money, and getting rid of it will mean more money for you. Stop adding any more debt to the pile. With a debt blitzing plan in place, use the money you freed up from your plugging and rat cleaning to accelerate your debt free life.
3. Cash in the Clutter
There is money sitting around in your cupboards. Have a big clear out and get money for the things you aren’t using. One of my clients, Nette took her whole family on a two week holiday to Hawaii by selling handbags and work clothes she no longer used on e-Bay. You can also sell your friends’ stuff too and keep a commission and you may just discover you’re pretty good at this and end up setting up your own online store. You can help the environment by recycling old mobile phones with companies offering up to £120 a phone.
4. Become a Hotel
Air B&B has created a massive opportunity for you to turn your home into a cash machine. Make a room available for 1 or 2 nights a week. If you live in a popular tourist location, consider moving out for a week or two in high season and rent out your whole place.
5. Profit From Your Passions
Create assets that can keep earning for you. Are you an avid photographer, love making music or enjoy compiling information? Upload your photos, videos and music creations to stock websites and get paid each time someone downloads them. Do some research and write an eBook published on Amazon Kindle. The key to success with eBooks is to create value, and write non-fiction. Compile information on a common and specific problem or interest (‘How To Successfully Sell Online’ or ‘Birthday Party Treasure Hunts for 8 Year Olds’) and present it in an easy to digest format. Get a great cover designed so it stands out using a resource like 99Design. The best thing is that you use your time once to create these and then they go on earning you money for years to come.
6. Affiliate Marketing
If you love recommending things to your friends and you’ve got a good online or social media presence you can bring in extra money immediately by promoting companies, products and services online. Check out if some of the products, tools and resources you use have affiliate programmes. Grab your affiliate link and share it with your friends and followers. If someone buys using your link you’ll make a nice commission. Amazon do a great programme and you can find out more about it here.
MORE: 7 things wealthy women do
7. Gigs on Fiverr
Fiverr is now the world’s largest marketplace for people selling services known as ‘gigs’. Services range from writing and translating, to transcribing and social media posting; playing pranks and teaching; to creating music and PowerPoint presentations; voice overs and short video clips for people all around the world! The default price is $5 a gig. It might not seem like much, but how you package your service can make it quickly add up and there are plenty of people making a really good living. You can also leveraging other peoples time by simply reselling their services. Find a decent transcriber then reply to jobs on Elance or other sites and pass the job through to your Fiverr person to do. A $5 spend can easily become $50+! If you’re not interested in selling your or other peoples services you could free up your time by using someone online to do stuff for you so you can make more money in other areas.
Ann Wilson is the author of The Wealth Chef: Recipes to Make Your Money Work Hard, So You Don’t Have To
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