Earning Extra Money – 5 Fool-Proof Methods Revealed

Everybody wants to be earning extra money since the recession hit. Many people around the country are struggling to pay their bills, and they want to know what they can do to make up the difference.

Well, I’ve by no means cornered the market on ideas for earning extra money. But I have been working from home for nearly 5 years now, so I’ve got some experience.

Plus, many of my clients are doing well financially — and I’ve gotten to peek inside their businesses. So I know which methods work and which ones don’t.

With that in mind, I offer the following 5 fool-proof methods for earning extra money:

Method #1: Mystery Shopping

One popular way to make extra money is to become a mystery shopper — somebody who gets paid to shop certain stores and report on their experiences.

Companies will often pay for mystery shoppers to shop their own stores because they want to know that the shopping experience is a good one. In a way, it is a form of covert quality assurance.

While I’ve not done this personally, I do know a woman who has quite a bit of experience in the field. Her name is Cathy Stucker. You might want to look her up if you’re interested in mystery shopping. She has a how-to guide available.

Method #2: Sell Products on Ebay

Do you know how to find and buy a certain line of products at or below wholesale prices? Or do you think you could?

Then you may have what it takes to sell products on Ebay.

I have a good friend who has made significant profits (to the tune of $15,000 in a year) by reselling used books on Ebay.

The trick here is to have a consistent supply of products you can buy at a low price. Your profit is based on the difference between your cost and your sale price.

Not all products sell well on Ebay. And it’s not always easy to find a good product supplier. But if you think creatively and do some research, this may be a good option for you.

Method #3: Get Paid to Write Sales Copy

I’m a freelance copywriter. I write direct response sales copy for a living: ads, sales letters, emails, etc.

If you have writing ability, and you like the idea of persuading people to buy products through the written word, then this may be a good avenue for you to explore.

I personally worked as a copywriter for 3 years before going freelance. And I also took the AWAI Six-Figure Copywriting course before striking out on my own.

No doubt, your path will be different than mine. You can research the course I named above. You can also check out classic copywriting books like Scientific Advertising by Claude Hopkins and The Ultimate Sales Letter by Dan Kennedy.

Or you can check out two online products I have: Copywriting Code (to learn how to write sales copy) and Get Clients Report (to learn how to get copywriting clients).

Method #4: Write an Ad-Funded Blog

If you like to write and think you could write articles about a particular hobby you have, then you might consider starting a blog.

How will you make money?

Simple. Through ads that you place on your blog. You can make money through Adsense blogging, affiliate links, text links, etc. There are actually quite a few ways to monetize your blog writing.

As with any worthwhile endeavor, blogging does take work. And you have to be consistent to attract and retain readers. So keep that in mind before you start a blog.

Method #5: Create & Sell Your Own Digital Product

A fifth and final way for earning extra money is to create your own digital product and sell it. You can write an ebook, record an interview, or make a video.

Then you can sell that product through Clickbank. Or sell it on your own and collect money through PayPal. Or get your own merchant account and shopping cart and collect the money that way instead.

The beauty of a digital product is that it can sell consistently for years. And with the right product and the right traffic to your offer, you can easily make $50 to $250 extra per month. This is conservative.

Earning Extra Money Doesn’t Have to Be Hard

When you use your creativity and start researching your options, you’ll find that earning extra money is much easier than you might have thought.

Even better, you can design your new income stream around the lifestyle you want. You can make money from home or you can choose to do something that gets you out of the house and talking with people.

The key is to just get started earning extra money. Once you’re moving in a certain direction, then you can course-correct along the way. Good luck!

Zero Percent Loan Same as Cash?

A couple months ago I was talking with my neighbor about some purchases I was thinking of making because of the zero-percent financing that was available.

He said, “That’s great, man. If it’s zero percent, that’s the same as cash.”

In a way, it is.

Getting a zero percent loan and making payments against it is the same overall effect as saving that money up and spending the lump sum down the road.

Yes, you may lose out on interest from your savings… so you might argue that you’re losing money by taking the debt.

But on the other hand, inflation greatly outpaces the interest rates offered by banks. The more money the Fed prints, the faster prices rise. This process discourages saving and encourages borrowing.

With a zero percent loan I can borrow money today and pay back the amount borrowed with less valuable money. Yes, I’m paying back an equal amount of dollars, but each one is worth less (or has less purchasing power) than it did when I borrowed the money.

So in a very real sense, a zero percent loan is not the same as cash… it’s actually better than cash.

This is the kind of world most of us live in, particularly in America where the printing presses never stop running. It’s a topsy-turvy world where what should make sense (saving) doesn’t make sense; and where what shouldn’t make sense (borrowing) does make sense.

Thoughts? Leave a comment below.