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Finding Alternative Income Streams

Savvy Solution: Find Ways To Make More Money, Part II

Investing is the most obvious and ideal form of alternative income because you're passively earning dividends, and when those dividends are reinvested you can truly see the positive effects of compounding growth. Don't have enough cash to buy a piece of the market, or you can't afford any market fluctuation with your cash right now? One of the most common ways people raise money for themselves is by running a side business on eBay or Craigslist — take a peek in your closet and start adding up how much you could earn from everything you don't use anymore (or is still hanging with its tags on). Blogging could be another way to earn a little side income.

I know some people have reservations about taking on a second job, but that's an obvious option if you're unable to find an income source that can be done from home. A second job may even be preferable to you — think about the new people you could meet! Even working ten hours a week (or less!) will help you reach your money goals more quickly. Whether you're trying to pay off debt, reach retirement early, save for a home, or you simply want more disposable income for the weekends, the only person holding you back from making more money is you.

Do any of you have creative ways that you make income on the side, or have any stories about how earning additional income has had a positive effect on your financial situation?


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