Updated: Sep 14
By The Girl in the Yellow Dress
October last year saw the highest annual inflation rate since 1981. Grocery shopping on a budget is becoming a tough excursion. So naturally, one of the most common areas Life Coaches get asked for advice is about finances; how to save money or make more money. How can they help their family in these challenging times?
I'm here to give you a few PRACTICAL tips. I am not going to tell you how to make £100,000 in a month or anything bogus. Let's be realistic and start small. But once you gain confidence and find your talent, there's nothing to say you can't make a hundred thousand in a month.
A lot of things online are not straightforward, like scam pyramid schemes or mostly suggesting investing in the stock market or Bitcoin. And if your mother is sitting at the kitchen table, her head in her hands, sharing with you how she is struggling to pay the water and electricity bill, suggesting to her that she invests in the stock market might just tip her off that table.
If you're looking to boost your finances in a short period, making a couple of extra thousand in a month might seem like a challenging task. However, with determination, work, and a bit of creativity, it's very possible to achieve your goal. In this blog post, we'll explore six practical and easy-to-follow methods to help you double your money quickly.
1. Airbnb Hosting:
If you have a spare room or property, consider becoming an Airbnb host. With the increasing popularity of short-term rentals, this can be an excellent opportunity to generate extra income. Follow these steps to get started:
- Create an appealing listing with high-quality photos and a detailed description.
- Set competitive pricing to attract guests while keeping profitability in mind.
- Ensure your space is clean, comfortable, and equipped with essential amenities. Perhaps buy a few new pillows, cushions, throws, and candles. They can do wonders!
- Be a responsive and hospitable host to earn positive reviews, which will attract more bookings.
2. Tutoring Services:
If you excel in a particular subject or possess a skill that others might find valuable, offering tutoring services can be a rewarding way to earn extra money. Follow these steps to become a successful tutor:
- Identify your areas of expertise and target the subjects or skills you can teach.
- Set competitive rates based on your experience, qualifications, and the demand for your services.
- Advertise your tutoring services through online platforms, local community boards, and social media.
- Be patient, understanding, and flexible with your students to foster a positive learning environment and encourage word-of-mouth referrals.
3. Dog Walking and Pet Sitting:
If you're an animal lover, dog walking and pet sitting can be a fun and lucrative venture. Many pet owners seek reliable and caring individuals to take care of their furry friends. Follow these steps to start your pet care business:
- Develop a schedule during your free time and a pricing structure for dog walking and pet sitting services.
- Obtain any necessary certifications required in your area.
- Create promotional materials, such as Facebook posts or business cards, and distribute them in your neighbourhood and local pet-related businesses.
- Offer exceptional care and attention to pets to build trust with pet owners, leading to repeat business and referrals.
4. Freelancing Services:
Utilize your skills to offer freelance services in areas such as writing, graphic design, web development, or social media management. Here's how to get started:
- Create a portfolio showcasing your work and skills.
- Join freelancing platforms like Upwork, Fiverr, or Freelancer to find potential clients.
- Set competitive pricing while considering the value you bring to the table.
- Deliver high-quality work on time to build a strong reputation and gain repeat clients.
5. Flipping Items:
Flipping items involves buying items at a lower price and selling them at a higher price for a profit. Here are the steps to succeed in this venture:
- Identify items with high demand and potential for resale.
- Research online marketplaces and thrift stores to find undervalued items.
- Negotiate for the best price when purchasing and set competitive prices when selling.
- Provide accurate descriptions and quality images to attract potential buyers.
6. Rent Out Your Extra Space:
If you have spare space in your home, such as an unused garage, storage room, or parking spot, consider renting it out. With the increasing demand for storage and parking in urban areas, you can earn extra income by providing these services. Websites and apps specifically cater to such arrangements, making it easy to connect with potential renters. Just ensure the safety and security of your belongings and the renters to establish a trustworthy and profitable rental business.
7. If you're skilled in crafts or baking, consider creating and selling handmade products. Platforms like Etsy and Facebook's Market Place provide a great marketplace for unique and creative items. You can sell items like birthday cakes (or pies!), handmade jewellery, personalised gifts, or home decor. Showcase your creativity and passion, and you might find a profitable niche that aligns with your talents and interests. Remember to invest in high-quality materials and present your products attractively to stand out in the competitive market.
Making extra cash is an ambitious goal, but with dedication and these practical ideas, it's certainly possible. Remember, success requires effort, persistence, and a willingness to adapt your strategies based on feedback and results. Be sure to track your progress along the way, celebrate your achievements, and learn from any challenges you encounter. Good luck on your financial journey!