Sunday, March 7, 2010

How to Make An Extra $500 a Month

How to Make An Extra $500 a Month
Excllent article By: Audra Lim


Most spend their lives chasing it, while others never seem to have enough of it.

Money.

The Holy Grail that supposedly brings with it promises of everlasting happiness, pleasure and excitement.

While those promises aren’t entirely true, it is always nice to have a little extra cash, just for that decadent Ritz Carlton Champagne brunch and Javanese aromatherapy massage or simply to squirrel away for a rainy day.

We know exactly how comforting some extra cash feels like, so here are three great suggestions on how to make a solid $500 extra a month:

1. eBay

Who hasn’t heard of eBay? Practically synonymous with earning money online, eBay is the place to go to sell stuff you have been keeping but have no use for, such as bags, clothes, books, accessories and that old grandfather clock that has been sitting unappreciated in the corner of the living room. Remember, one man’s junk is another man’s treasure. Or, you could buy something cheap and resell it there for a small profit. You can also use eBay’s Daily Deals (http://deals.ebay.com/deals) to pick up items that are going cheap for a limited time only, or visit Ebay, Craigslist, garage sales, flea markets, closeouts and the like for things you think may sell.

Potential earnings: $200 (assuming you sell 20 items at a profit of $10)

2. Sprees/ Bulk Purchases

Singaporeans love shopping, especially if they know they can get a good deal. Many popular items originate from overseas though, and sometimes it is too troublesome, too difficult or costs too much in shipping fees to purchase. In steps the Spree and Bulk Purchase organizer, who typically buys things in bulk from a particular brand or shop overseas, and earns a small profit by selling these value-for-money items at spree websites like http://community.livejournal.com/sgspree/, http://www.topsites.sg/tag/spree and the Singapore Motherhood forum.

Potential earnings: $200 (assuming a profit of $4 from each order, with 50 orders)

3. Earnings from Hobbies

Think about your favourite pastimes. Is there something you are good at, or something you know a lot about? Capitalise on these interests and skills. If you are handy with arts and crafts, make things and sell them on Etsy.com, a site that specializes in handcrafted products and supplies. If you are a Ansel Adams-wannabe and love taking photos, put them up on iStockPhoto.com, where publishers can search for photos using keywords – and you get a percentage if your photo is purchased. If you think you are an expert at finding the most suitable toy for your baby as she grows, write articles and post them online at sites such as AssociatedContent.com, where articles are typically paid US$4-10 each. Or better still, set up your own website and sell your writings as e-books. What you get is quick income with not much further work on your part!

Potential earnings: $100 (assuming you sell 20 items/articles etc at a profit of $5 each)

There are so many other ways to make money, including baking organic wheat-free chocolate cakes from home, providing freelance writing, or public relations, or accounting, or data entry or marketing or design services — and how about giving mobile manicures from your spiffy Kangoo van? As with any other job, many of these ideas take time and effort to turn into fruition, but once you get past that learning curve in terms of understanding e-commerce and market demand, it becomes a cinch to make that extra $500 many times over.

Have any other great ideas to help other women make extra cash? Share with us!
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