Having multiple revenue streams is a key component of financial success. There are very few multi-millionaires and no billionaires who made their profits through one or even two efforts or entities. Diversifying your skillset and taking advantage of potential money-earning opportunities is a critical for growing your net worth exponentially. Everyone needs more money. And if you don't need more, then you at least want more. The good news is that 2016 brings a plethora of new ways to make money that didn't exist in past years. Learning to use your existing skills and talents for additional tasks can help you bring in new sources of income. Here are a few ways that you can earn some extra cash in your free time.
1. Flip cars
If you have several thousand dollars that you're comfortable investing in a high-risk high-reward investment, consider flipping cars. Buy a used car and then sell it for a few hundred or few thousand dollars more. If you look hard enough in the classified listings for deals, you'll be able to find plenty of cars that are sold for less than they could be.
2. Sell unwanted clothing
If you have used or unwanted clothing that is just taking up space in your closet, get rid of it. You can very easily make some money from doing so. There are dozens of sites online like Thredup that will pay you from $3-$30 for used clothing. A few extra dollars in your pocket means that you can buy more clothes and then potentially resell those as well.
3. Join Uber or Lyft
Uber and Lyft exploded in popularity this past year. In 2016, they will be even bigger. If they haven't already, Uber and Lyft will entirely eliminate the taxi business in the next year. Getting an Uber or Lyft is much quicker than hailing a cab, and far cheaper. Join Uber or Lyft in your hours after work or your free time and you can make $35 per hour. You can use your own car, drive whenever you want to, and simply drive people around. It's an easy way to make some quick cash.
4. Build Websites
If you have coding or computer programming skills, there are dozens of ways you can use them to make money. Every business that doesn't have a website needs one, but programmers can be very costly. By offering your time and labor, this is a way for all programmers to make several thousand extra dollars per year. Most business owner, if they don't already have a website, would jump on the opportunity to have one built for $500. For them, that's a great deal they probably can't find from most people. For you, that's $500 you wouldn't have had before.
5. Teach Lessons
Diversifying your income is a great way to increase net worth, and if you can accomplish this by doing something you're good at and enjoy, then you've got it made. If you have a skill that you can teach to other people, like public speaking, writing, singing, dancing, then market yourself as an expert, find yourself a platform, and watch the dollars come in.
6. Rent out your car
RelayRides.com allows you to rent your car for $10. If you were to multiply that by 5 hours a day, 5 days a week, that's $1,000 per month.
If you have a knack for writing, or at least something good to write about, blogging (over time) can be a great fun way to make extra cash
8. Ghost Writing
If you are a good writer and have the credentials to prove it, consider ghost writing. PR companies will pay anywhere from $100 to $700 for an article, which is well worth your time.
9. Social Marketing Consultant
Every company needs to market themselves, and there's nothing more powerful than social media for marketing in 2016. Become an expert on social media and offer your services to companies.
10. Find Random jobs on Craigslist
If all else fails, you know where to go.
11. Sell products on Etsy.com
If you have an artistic side to you then put your skills to the test and try selling your art online.
12. Web and Mobile Design
If you are a skilled designer, help companies create logos, graphics, and images for blogs, websites, and apps. This can accumulate to a significant source of income.
13. Do medical studies
Medical studies often pay solid amounts of money for a few hours of your time. Spending your weekend in a lab could mean starting off your week with a extra $1,000.
14. Give tours
Vayable.com lets you give tours around your city for tourists. It's fun, easy, and will help fill your wallet.
15. Walk dogs
If you love pets, there's no better way to make $15-$25 an hour.