Student loans can stretch an entry-level salary thin, leaving you with little left over for savings. While side hustles can be a great way to boost your income, they also require a pretty serious time commitment. That’s why finding alternative sources of income — that don’t require you to leave your couch — are so important.
But the internet is swamped with shady companies that promise to help you make money. It can be difficult to distinguish the real deals from the scams.
To help you identify the actual opportunities, we’ve vetted the following 14 ways to make money on the side to ensure they’re legitimate.
14 ways to make money on the side
These unique ideas can help you learn how to make passive income without having to make a big investment.
1. Rent out a room (or couch)
If you have a spare bedroom or even just a couch, you can make extra money by renting it out to short-term vacationers. Budget-conscious travelers book accommodations on sites like AirBnB or VRBO. Depending on your location and the space you have, you could make more than $500 a week.
2. Sell gift cards
Gift cards are a simple gift idea — you likely received a few for the holidays, your birthday, or graduation. But are all those gift cards for locations you actually shop at? According to Gift Card Granny, about $750 million in gift cards went unused in 2014.
Instead of letting those cards gather dust in a drawer, you can turn them into cash by selling your unused gift cards on sites like GiftCards.com or Raise. Depending on the card’s brand, you can get as much as 92 percent of the card’s value.
3. Give out micro-loans
If you have some money in savings, you can make it work harder for you by investing with peer-to-peer lending. With services such as Lending Club you can help individual borrowers by partially funding their personal loans.
Some people need a loan for a dream wedding or to launch a business. You lend them some money and the returns you get on your investment are based on their risk profile and credit worthiness. To diversify your investment, you can give out several small loans rather than one big one.
4. Create blog content
Freelance writers can make a lot of money, but it takes a lot of time, commitment, and experience to command higher prices. For those who need extra cash fast, content mills can connect you with clients and pay you quickly.
The rates you’ll earn will be much less than what you’d get on your own, but you don’t have to do any of the administrative work or find clients yourself. You can get to work right away and start earning cash.
One resource is BlogMutt. Once you become a BlogMutt writer, you can complete as many assignments as you want each week. While the company only pays $8 a post, most articles are short and relatively easy. BlogMutt pays you for your work every Monday, so it can be a quick source of money when you need it.
5. Open a new bank account
You can earn hundreds just by opening a new checking or savings account. Right now, you can get up to $300 by opening an account with Chase and setting up direct deposit. That’s a great bonus you can use to jumpstart your emergency fund.
However, there are risks to opening new bank accounts for the bonuses. Learn about possible drawbacks, and three times this option makes sense.
6. Shop for clothes
If you love to shop for new outfits, you can turn that interest into real cash. Does It Fit My Butt? is a new app that helps women find clothes that work for their bodies.
When you sign up, you enter your measurements. Every time you try on outfits in a store, you post a picture of the looks you love and scan the barcodes of each item. If someone likes your outfit and wants to buy it, they pay $0.99 to find out where to get it. You keep $0.50 of that as a finder’s fee. Best of all, there’s no limit to how much you can earn.
One photo can continue to earn money for you month after month, so it’s a good source of passive income.
7. Post affiliate links
If you have a website, blog, or social media account, one of the most effective ways to make money on the side is to post affiliate links.
If you don’t have a huge following, platforms like ShopStyle Collective can be helpful because they pay you per click, not per purchase. Even if someone just views your links, you can still earn a few cents every time.
8. Sell old clothes and accessories
If you have clothes you no longer wear or accessories you never use, make some extra money by selling them online.
Poshmark and eBay are two sites where you can sell your items for the price you set. While you can make more money with these sites than with other platforms, you may have to wait a while for a buyer.
ThredUP is great for when you don’t want to do all of the selling yourself. You simply send in a bag of items and they pay you a flat fee for what they can accept.
9. Test out listing features
If you have a little spare time, you can make money testing out listing features with Amazon Mechanical Turk. When you sign up, you can take on tasks like checking spelling, looking for item numbers, or comparing products.
Each task pays just a few cents, but you can easily complete many in a few minutes.
10. Invest your change
When you’re learning how to make passive income, investing is a good place to start. But it can be overwhelming getting set up. Acorns takes the pain out of investing and helps you start by using your spare change.
Whenever you make a purchase, the Acorns app rounds up your purchase and invests the difference for you. Over time, these micro-investments can add up to big returns.
11. Shop at real stores
If you shop at brick-and-mortar stores, you can earn gift cards by using the shopkick app. When you sign up, the app will list stores near you that offer “kicks,” or rewards points, for visiting. You earn points just for walking in.
You can earn more by scanning item barcodes with the app or making your normal purchases. You can redeem your points for gift cards to your favorite stores.
12. Refer products
People trust their friends and family for recommendations far more than they trust advertising or a stranger’s reviews online. If you have a favorite product, you can help your loved ones and earn money at the same time.
Many companies, including banks or credit card firms, have referral programs. You sign up for an account and get a unique referral link you can share via email or on social media. If someone purchases a product or signs up for the service you recommended, you get a referral bonus.
The bonuses can be lucrative. For example, right now Student Loan Hero is offering $400 for every friend you recommend who refinances their student loans.
13. Rent out your car
If you don’t use your car every day, you can turn it into a money-making machine by renting it out through Turo. Turo connects car owners with renters in your area. On average, owners who list their car on Turo make $720 a month.
You can rent out your car whenever it’s convenient for you, such as only on weekends or certain times of the year.
14. Sell your smartphone pictures
If you love taking pictures with your phone while you’re on the go, you can sell those photos for cash.
Small businesses constantly need stock photos for their blogs and social media channels, and your smartphone pictures may be exactly what they’re looking for.
Earning extra money
These 14 ways to make money on the side are easy to do and don’t require much of your free time. You can find alternative sources of income to pay off your loans or boost your savings just by spending a few minutes a day online.
Looking to make even more money? Check out these simple side hustles you can start tomorrow.
Interested in refinancing student loans?Here are the top 6 lenders of 2018!
|Lender||Variable APR||Eligible Degrees|
|Check out the testimonials and our in-depth reviews!
1 Important Disclosures for Earnest.
To qualify, you must be a U.S. citizen or possess a 10-year (non-conditional) Permanent Resident Card, reside in a state Earnest lends in, and satisfy our minimum eligibility criteria. You may find more information on loan eligibility here: https://www.earnest.com/eligibility. Not all applicants will be approved for a loan, and not all applicants will qualify for the lowest rate. Approval and interest rate depend on the review of a complete application.
Earnest fixed rate loan rates range from 3.89% APR (with Auto Pay) to 6.97% APR (with Auto Pay). Variable rate loan rates range from 2.47% APR (with Auto Pay) to 6.30% APR (with Auto Pay). For variable rate loans, although the interest rate will vary after you are approved, the interest rate will never exceed 8.95% for loan terms 10 years or less. For loan terms of 10 years to 15 years, the interest rate will never exceed 9.95%. For loan terms over 15 years, the interest rate will never exceed 11.95% (the maximum rates for these loans). Earnest variable interest rate loans are based on a publicly available index, the one month London Interbank Offered Rate (LIBOR). Your rate will be calculated each month by adding a margin between 1.82% and 5.50% to the one month LIBOR. The rate will not increase more than once per month. Earnest rate ranges are current as of Month/Day/Year, and are subject to change based on market conditions and borrower eligibility.
Auto Pay discount: If you make monthly principal and interest payments by an automatic, monthly deduction from a savings or checking account, your rate will be reduced by one quarter of one percent (0.25%) for so long as you continue to make automatic, electronic monthly payments. This benefit is suspended during periods of deferment and forbearance.
The information provided on this page is updated as of 08/21/18. Earnest reserves the right to change, pause, or terminate product offerings at any time without notice. Earnest loans are originated by Earnest Operations LLC. California Finance Lender License 6054788. NMLS # 1204917. Earnest Operations LLC is located at 302 2nd Street, Suite 401N, San Francisco, CA 94107. Terms and Conditions apply. Visit https://www.earnest.com/terms-of-service, email us at email@example.com, or call 888-601-2801 for more information on ourstudent loan refinance product.
© 2018 Earnest LLC. All rights reserved. Earnest LLC and its subsidiaries, including Earnest Operations LLC, are not sponsored by or agencies of the United States of America.
2 Important Disclosures for Laurel Road.
Laurel Road Disclosures
APR stands for “Annual Percentage Rate.” Rates listed include a 0.25% EFT discount, for automatic payments made from a checking or savings account. Interest rates as of 11/8/2018. Rates subject to change.
Variable rate options consist of a range from 3.27% per year to 6.09% per year for a 5-year term, 4.64% per year to 6.14% per year for a 7-year term, 4.69% per year to 6.19% per year for a 10-year term, 4.94% per year to 6.44% per year for a 15-year term, or 5.19% per year to 6.69% per year for a 20-year term, with no origination fees. APR is subject to increase after consummation. The variable interest rate will change on the first day of every month (“Change Date”) if the Current Index changes. The variable interest rates are based on a Current Index, which is the 1-month London Interbank Offered Rate (LIBOR) (currency in US dollars), as published on The Wall Street Journal’s website. The variable interest rates and Annual Percentage Rate (APR) will increase or decrease when the 1-month LIBOR index changes. The variable interest rates are calculated by adding a margin ranging from 0.98% to 3.80% for the 5-year term loan, 2.35% to 3.85% for the 7-year term loan, 2.40% to 3.90% for the 10-year term loan, 2.65% to 4.15% for the 15-year term loan, and 2.90% to 4.40% for the 20-year term loan, respectively, to the 1-month LIBOR index published on the 25th day of each month immediately preceding each “Change Date,” as defined above, rounded to two decimal places, with no origination fees. If the 25th day of the month is not a business day or is a US federal holiday, the reference date will be the most recent date preceding the 25th day of the month that is a business day. The monthly payment for a sample $10,000 loan at a range of 3.27% per year to 6.09% per year for a 5-year term would be from $180.89 to $193.75. The monthly payment for a sample $10,000 loan at a range of 4.64% per year to 6.14% per year for a 7-year term would be from $139.65 to $146.76. The monthly payment for a sample $10,000 loan at a range of 4.69% per year to 6.19% per year for a 10-year term would be from $104.56 to $111.98. The monthly payment for a sample $10,000 loan at a range of 4.94% per year to 6.44% per year for a 15-year term would be from $78.77 to $86.78. The monthly payment for a sample $10,000 loan at a range of 5.19% per year to 6.69% per year for a 20-year term would be from $67.05 to $75.68.
However, if the borrower chooses to make monthly payments automatically by electronic funds transfer (EFT) from a bank account, the variable rate will decrease by 0.25%, and will increase back up to the regular variable interest rate described in the preceding paragraph if the borrower stops making (or we stop accepting) monthly payments automatically by EFT from the designated borrower’s bank account.
3 Important Disclosures for SoFi.
4 Important Disclosures for LendKey.
Refinancing via LendKey.com is only available for applicants with qualified private education loans from an eligible institution. Loans that were used for exam preparation classes, including, but not limited to, loans for LSAT, MCAT, GMAT, and GRE preparation, are not eligible for refinancing with a lender via LendKey.com. If you currently have any of these exam preparation loans, you should not include them in an application to refinance your student loans on this website. Applicants must be either U.S. citizens or Permanent Residents in an eligible state to qualify for a loan. Certain membership requirements (including the opening of a share account and any applicable association fees in connection with membership) may apply in the event that an applicant wishes to accept a loan offer from a credit union lender. Lenders participating on LendKey.com reserve the right to modify or discontinue the products, terms, and benefits offered on this website at any time without notice. LendKey Technologies, Inc. is not affiliated with, nor does it endorse, any educational institution.
5 Important Disclosures for CommonBond.
Offered terms are subject to change. Loans are offered by CommonBond Lending, LLC (NMLS # 1175900). If you are approved for a loan, the interest rate offered will depend on your credit profile, your application, the loan term selected and will be within the ranges of rates shown.
All Annual Percentage Rates (APRs) displayed assume borrowers enroll in auto pay and account for the 0.25% reduction in interest rate. All variable rates are based on a 1-month LIBOR assumption of 2.28% effective October 10, 2018.
6 Important Disclosures for Citizens Bank.
Citizens Bank Disclosures
|2.47% – 6.99%3||Undergrad & Graduate|
|2.47% – 6.30%1||Undergrad & Graduate|
|2.51% – 8.09%4||Undergrad & Graduate|
|3.02% – 6.44%2||Undergrad & Graduate|
|2.69% – 7.21%5||Undergrad & Graduate|
|2.79% – 8.39%6||Undergrad & Graduate|