The whole world is at your fingertips in the internet and smartphone age. This means that making money is merely a question of choice and your willingness to work hard. However, what if you already have a day job that takes most of your time? Is there a way for you to make some extra money on the side to supplement your budget? Once again, this shouldn’t be a problem. With that in mind and without further ado, here are the top seven ways to make extra cash in 2023.
1. Write a novel
Writing a novel, regardless of the genre, can be quite profitable in 2023. First of all, you don’t have to make any investments. You can write it in Docs or MS Word and make a cover on a platform like Canva. Then, you can self-publish it on a platform like Amazon Kindle Direct Publishing, free of charge.
Sure, if you have to do research, materials, and resources may cost. You may also choose to hire a professional designer for your story cover. Nonetheless, this is completely optional. If you want to write and monetize a novel, you can do it without investing a single dollar.
2. Sell things online
Who knows how many useless things you have lying around your home that you could sell online for decent money? All you need to do is start decluttering, sort these items out, and do some research. Make four piles:
- Pile I: Things you need and use.
- Pile II: Things you don’t use right now but expect you will in the future.
- Pile III: Items that you don’t use and have value.
- Pile IV: Items you don’t use and don’t have a value.
The first pile should get placed where it’s easily accessible. The second pile needs to be properly stored. The third pile can be sold online. The fourth pile goes straight to the trash. This way, you’ve supplemented your budget and decluttered your home. Most importantly, you’ve optimized your inventory by finding the best application for items from each pile.
3. Start a cross-selling business
If you have some money and feel like you are business savvy enough, you might want to start a cross-selling business. This means you can order an item from the supplier and find a buyer who will get this product without it ever being in your possession. It’s a form of dynamic reselling where you don’t need storage space or even a transportation system.
The problem with this is that it’s not as easy as it seems. Second, you’re taking a considerable risk. Refunds, in particular, can be a problem. Sure, you can have a no-refund policy, but this doesn’t evoke much trust in online retail.
One way to manage this business smoothly is to partner with a reliable dropshipping supplier like Printify. They will handle productions, storage and logistics while you can focus on the most important part – getting sales. Printify offers wide range of products including apparel and household items like wall clocks or custom printed mugs that you can customize yourself or hire a designer on Upwork to put cool eye-catching designs onto your products. Printify will ship these products directly to your clients once they make a purchase. This is one of the easiest ways to start an online business today.
4. Sell your old jewelry
If you have old jewelry, you’re not wearing; chances are you’re better off just selling it. You don’t even have to be desperate to sell. What should you do with an old piece that is out of style? Hope for a renaissance of that style or bequeath it to your offspring (just because it’s no longer in)? Of course not! Sell it and use the money to buy something you’ll wear.
A piece of advice. Don’t be desperate to sell. You don’t have to buy from that place even if you need the money. Luckily, you have so many options. For instance, if you’re from Arizona, you have many great places to pawn jewelry in Phoenix. Don’t treat this particular pawn shop as your only hope.
5. Do online surveys
Online surveys don’t pay as much as you think. Sure, some are more lucrative than others, but they won’t pay your rent or make a mortgage payment. Fortunately for you, this was never their purpose to begin with. What they’re meant to do is supplement your budget. You can make a noticeable difference in your budget by getting $15 to $50 here and there.
Also, bear in mind that not all survey sites pay the same. Research how they pay to ensure you have the payment gateway. One last thing, most of these survey platforms have a minimum cash-out. This means you might not be able to cash out before accumulating $10 or $20.
6. Sell stock photos
Writing a novel is not the only way to make money on art in 2023. You can take photos and sell them directly to stock photo sites. Even if you don’t have a professional camera, some sites specialize in selling stock photos taken via smartphone.
Now, making a living by selling stock photos is not as glamorous as it appears. While quality photos will sell better, you also need many photos. Also, study the terms of the platform carefully. A lot of your photos will be rejected (for random reasons). Some will be accepted later (even without modification). The algorithm is flawed, and you shouldn’t get frustrated over it.
7. Day trading
Being a day trader allows you to make money by speculating in securities. The reason why it’s called day trading is because all the trades end between the market opening and closing. In today’s day and age, you can trade via your phone.
If you’re willing to invest enough research and planning, you can partially automate your trades. You can set stop orders to buy and sell, which takes the emotional equivalent out of your trading decision-making.
Just keep in mind that trading is always risky. Therefore, don’t invest more than you can afford to lose.
Wrap Up
When trying to make money on the side, consider a few things. First, how much time will it take? Second, does it require a considerable initial investment? Third, would I need any special skills or equipment for this? Lastly, and probably more importantly – what is the earning potential in the long run? Some of these side gigs can, eventually, transform into full-time jobs and be your main source of income.