How To Earn More Money
Earning more money is the single most important thing you can do to build wealth. When it comes to your personal budget, you can only cut and be mindful of expenses to a point. You still have to pay for shelter, you still have to pay for food, and you likely have to pay for transportation. On the other hand, the amount of money you can earn is limitless.
That's why we're so bullish on side hustles and earning more money. The goal is you take your earnings, and you invest those in other assets, so in the future you can live off that passive income. And this entire process becomes much easier when you're earning more.
So, how can you earn more money? It's not always easy, but there are limitless ways. Seriously, every day I'm learning about new ways to earn money - and you can do. That's the inspiration for this section.
Our goal is to motivate you to earn more money by sharing ideas, stories, case studies, and more about ways that you can go out and earn it yourself.
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Active Ways To Grow Your Income And Earn More
The easiest way to earn more money is to simply earn more money at your day job. Maybe you can work extra hours or get overtime. You can look at ways to negotiate a higher salary, or even take on a second job to provide extra income.
A more challenging approach, but possibly more lucrative, is to start side hustling. A side hustle is a job that you do on the side of your nine to five, but you can do it on your own terms. That last part is the key differentiator between a side hustle and a second job.
Our Favorite Side Hustles
There are infinite possibilities for side hustles. Here are some of our favorites based on experience and earning potential.
Here are some more side hustle ideas:
Become An Entrepreneur
It is easier than ever to become an entrepreneur today (and it's basically free). Becoming an entrepreneur is a longer game of trading your time for dollars to eventually not have to do it. It's a riskier venture (not from a money aspect, but from the time it takes to be successful), but it's probably the most rewarding.
For example, when I started The College Investor in 2009, I didn't make any money online. It took about 2 years before I made my first $25. Now this website earns six figures per year, and it's all pretty passive income at this point. It took 8 years, but the time put in up front is easily made up by the revenue today.
If you want to start a blog and start earning money online, check out our free guide on How To Start A Personal Website Or Blog. We used Bluehost to start because you get a free domain name and cheap hosting at just $2.95 per month.
See, for just $2.95 on Bluehost you can start building your path to online income that could provide you financial freedom.
Check out these inspirational ways to make over $1,000 per month on a side gig.
Passive Ways To Earn Extra Money
All of the above ways to make extra money are active - they require you to do some work to earn the income. While there is nothing that is truly passive (i.e. never requires any work), there are things that you can do that will earn income for you for a long time to come.
The goal, of course, is to develop multiple income streams.
My three favorite ways to earn a passive income are:
Side Hustle Apps And Tools
I personally know first hand the power of side hustling to make more money and build real wealth. Side hustling is what allowed me to pay off over $40,000 in student loan debt in less than 3 years. It's still what is allowing me to build wealth today.
Read More Side Hustle Content
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Side Hustle Terms And Definitions
Learn more about what these side hustle terms mean, from A to Z:
M
N
O
P
R
- Real Estate Investing
- Remote Work
- Rental Income
- Retail Arbitrage
- Royalties
S
T
U
- Uber Driving
- Upcycling
- User Testing
V
- Voiceover Work
W
- Web Design
- Website Flipping
- Woodworking
Y
- Yield Farming
- YouTube Channel
Editor: Clint Proctor Reviewed by: Ashley Barnett
