Learn Ways to Make Extra Money Quickly so You Can Become a Millionaire Sooner
It is safe to say that everyone would like to become a millionaire. It is also safe to say that most of those people would like to make quick money to get there.
Though anyone rarely becomes a millionaire overnight, there are some ways to make money quickly that can get you to your goals sooner rather than later.
Image source: Bigstock
That is why we have created this year’s guide that will teach you how to make money fast.
We will offer you eight ways to make money quickly. Then, we will offer two suggestions to turn that money into real wealth – all while avoiding any money-making schemes.
While one of the best ways to make money in the long run may be to start a brand new business, we are here to focus on easy ways to make money very quickly.
So go through our list of eight easy ways to make money – and see if your wealth will grow this year.
How to Make Money Fast to Become a Millionaire
Just because you make quick money does not automatically mean you will be wealthy – much less a millionaire. For example, going from $35,000 to $60,000 after adding some of our ways to make money can feel like a great jump.
But you would still be $940,000 short of a million. To truly utilize the ideas for making money and to make money quick, you will need to follow a bigger method.
Add More Streams of Income
There is no way around it: in order to become a millionaire, you will have to make more money. Our first step is to simply find more ways to make extra money. To start you off, we have eight easy ways to make money on our list.
To make this work best, adding in a few passive ways to make extra money is key. We will explain this more below.
Once that added income is coming from the money-making opportunities, you will need to invest well. After the eight ways to make money, we will offer tips for investing.
The point is to make money now so you can be rich later. If you live like you are rich before you are actually rich – you will never be able to become a millionaire. We have some tips for living frugally below.
8 Ways to Make Money
Since the first step of the method to make money quick is to add new streams of income, we have eight easy ways to make money below.
Three of the ways to make extra money are passive income ideas for making money. You will need these if you want to know how to make money fast.
- Active income arrives for your active labor. When a teacher teaches, he makes money. When a doctor is in surgery, she makes money.
- Passive income arrives even when you are not actively doing anything. Normally, you will have needed to work hard upfront, and then you can be hands-off when the money comes in.
None of these ways to make money are money-making schemes. These are simply genuine ways you can make quick money and get to the millionaire life sooner.
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Sell Something for Passive Income
What do you know how to do? Whatever that knowledge is can turn into ways to make money through passive income sales.
Once you have created these easy ways to make money, you can sell them online. Marketing will be the only thing you need to focus on. Some websites, like Udemy where you can sell your courses, will even market for you for a fee.
After you get the project rolling, you will be making money on the internet without too much time invested. So you can move on to some of the other ways to make extra money and add another stream of income.
Advertise for Passive Income
Another way of making money on the internet is through advertising. If you set up a blog or website, you can offer advertisements and affiliates. Both are ways to make money quickly as passive income.
You will first need to set up a blog. Think about what topic you are knowledgeable in and create posts people want to read. Then you can set up the two easy ways to make money:
- Advertisements: You can charge companies related to your blog’s topic for hosting an advertisement on your site.
- Affiliate Marketing: You can earn a small commission when you direct your readers to buy something from another retailer. Amazon.com Associates is a great place to start.
Though the initial time of setting up the blog can be hard work, eventually you can make quick money and move on to other ways of making money.
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Rent for Passive Income
Renting out a room in your home, or renting out your second home/vacation home, is a great way to make money now. And with websites like Airbnb and VRBO, renting has become one of the top easy ways to make money.
Image Source: VRBO
- Take some time to make your room/home renter-friendly and welcoming
- Take high-quality photos
- Write a detailed description of the property
- Join one of the house renting programs
- Approve short-term renters
After you follow these steps, managing the listings is all you have to do to bring in the passive income.
When it comes to ways to make extra money, this is one that can be easily done at the same time you are working your job and adding in other ways to make money.
Start a Service Based Side Business
Next up on our list of easy ways to make money is creating a business that serves people in your community. Ideas for making money this way could include:
- Babysitting/daycare services
- Dog walking
- Lawn mowing/yard care
- Errand running
- Delivery driving
Not only can these businesses make quick money, they can be completely flexible around your schedule. This means they are great ways to make extra money for those with full-time jobs, full-time students, or even stay-at-home parents.
Join a Service Based Side Business
If you do not want to spend any time starting a service-based business like this, other ways to make money include joining those already in existence.
Other ways to make extra money like this can come from TaskRabbit. TaskRabbit connects you with people in your community needing a large variety of services, such as:
- House cleaning
- Home repair work
- Moving help
- Errand running
Sell Your Creations
Thanks to creative sales platforms like Etsy, selling your creations is one of the top easy ways to make money. If you already knit or sew or build or paint as a hobby, why not turn that activity into ways to make extra money?
Image Source: Etsy
With Etsy, you get to choose your pricing. This means if your popularity increases, you can increase the cost of your items and make money quick.
And since you will be making money on the internet, you do not have to worry about overhead fees like a storefront.
Get a Work-From-Home Part-Time Job
Adding another stream of income through a part-time job is a good idea. But one of the best ways to make money quickly is doing that part-time job from home.
That is because at-home money-making opportunities give you the flexibility to work on your other projects and ways of making money.
Ideas for making money on the internet or on the phone at home for part-time work include:
- Online tutoring
- Search engine evaluation
- Answering surveys
- Virtual call center representative
- Virtual assistantship
- Social media manager
One of the top easy ways to make money very quickly is to donate parts of yourself to those who need it. Some of the top items you can donate to make money quick are:
- Blood plasma
- Breast milk
While some of these donations make quick money, they may not make a lot of money. However, donating eggs can bring in between $5,000 and $8,000. And surrogate mothers can earn between $39,000 and $52,000.
Investing to Make Money Quick and Become a Millionaire
Unless you get extremely lucky and one of these ways to make money explodes into a million dollar business, the best and most realistic way to make money quick and become a millionaire is to invest your money wisely.
Take all the extra money you have made through our suggestions of easy ways to make money and start investing. Here are a few ideas:
- Start a retirement account, like a Roth IRA
- Open a certificate of deposit or money market account
- Manage mutual funds or ETFs
- Invest in stocks
- Offer capital for a new startup in return for equity
- Try peer-to-peer lending
- Purchase real estate and either rent it out or fix it up for high re-sell
The catch-22 of investing is that the best investments that make quick money often have the highest risk of losing money. That is why anybody who wants to make money now should hire a financial advisor to help make your investment decisions.
Living Frugally to Make Money Now
If you want to be rich, it may feel counterintuitive to live frugally for the time being. But it is the only real chance you have of turning these ways to make extra money into actual wealth.
The less money you spend now, the more you can save and invest.
Tips For Frugal Living
- Use all the ways of making money to pay off 100% of your debt first; interest payments cancel out everything you do to make quick money
- Create a budget and stick to it
- Sell everything you no longer use
- Downsize your house, your car, etc.
When you live frugally while you start the different ways to make extra money, your wealth will build more quickly.
Conclusion – Top Ways to Make Money
Now that you have some more ideas for making money for this year, you can make money quick. It is absolutely possible to take advantage of many of these money-making opportunities at the same time – even while still working your full-time job.
Remember that no matter which ways to make extra money you choose, however, you must do the following to ever become a millionaire:
- Save, invest, and live frugally: It does not matter if you know how to make money fast if you always spend money just as fast.
- Do not fall into money-making schemes: Get-rich-fast schemes can sound too good to be true, which means they are too good to be true; they will more likely take your money now instead of make money now.
Have fun trying some of these easy ways to make money this year.
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