5 Ways to Make an Extra $500 a Month

Rent out your living room.

By SHARE

There is nothing like making a little extra money on the side. If you want to make more money, the quickest way to make it happen is sell something you already know how to do. Below are my top five ways to make an extra $500 per month:

1. Rent out your living room. Make a cool video of your living space, post a few pictures of your cozy apartment, and voila ... you have a mini bed and breakfast business on your hands. Simply put: Allow people to rent your couch on airbnb.com. If you have a guest bedroom or a living room with a couch, you can make some extra cash today. Who knows? You might even make a friend or two.

[See The 50 Best Careers of 2011.]

2. Rent out your car. If you have a car sitting around in a garage or on the streets, you can rent it out for a couple of hours on GetAround.com. You can even park it near your office and only allow rentals during the times you are in the office. This could be the very start to your car rental empire. Watch out Hertz, there’s a new rental car service in town.

3. Sell your knowledge. You will be surprised how much you know that other people don’t. For example, you might be an amazing dancer, an Excel spreadsheet master, a great resume writer, or a social media whiz. Don’t let all that talent go to waste! People will pay you to teach them your skills. You can easily make this happen by selling your knowledge in a form of a class on www.udemy.com. All you need to do is post videos of you teaching something and customers will pay to watch them.

[See The 50 Best Places to Work for 2012.]

4. Cook for people. I can’t remember the last time I had a healthy home-cooked meal. I’m constantly eating out, and I jump at the chance to eat a home-cooked meal. If you are a good cook, you can make a little extra food and sell it for a little extra cash on cookitfor.us. It isn’t that much time for you, since you have to cook anyway, and it can fill up your wallet. Don’t be surprised if Anthony Bourdain comes knocking for an invitation one day.

[See 8 Reasons to Continue Your Holiday Job Search.]

5. Sell your services. Are you great at something? Sell mini projects that you can do $5 at a time on fiverr.com. You can sell logo design, Facebook help, relationship advice, and much more. Be careful to make sure you don’t spend to much time on one particular task, you are only getting paid $5 for it after all. This is also a great way to build your portfolio.

Rishi Shah helps people get customers. You can download his eBook “10 Paying Customers in 10 Days” for free when you join his newsletter here. He is a member of The Young Entrepreneur Council (YEC) is an invite-only nonprofit organization comprised of the country’s most promising young entrepreneurs.  The YEC promotes entrepreneurship as a solution to youth unemployment and underemployment and provides its members with access to tools, mentorship, and resources that support each stage of a business’s development and growth.