by Stacy Francis, CFP®, CDFA
One of my mom’s friends has a daughter who studied interior design, and then scored an assistant manager position in an upscale furniture store right out of college. She was estatic, loving everything about her job . . . until last week, her employer cut everyone’s hours from forty per week to eighteen. She was on the verge of tears – how was she supposed to make any money?
As she is far from the only person facing a situation like this, I thought I should throw some ideas out there for how to create extra income in tough times.
- The first, obvious idea is to take on an extra job. While many businesses are crumbling, some are still doing well and hiring.
- Another idea is to finally clean out your closets, shelves and storage spaces and have a garage sale. You’ll make money and have a less cluttered home.
- If you want to unload a smaller amount of stuff, or you don’t want strangers coming to your house, try selling some things online instead. There is a reason eBay has grown so much over the past decade; many people do make a good deal of money there.
- Trade your car for a smaller one. If you play your cards right, you may end up with not only a chunk of cash, but lower bills at the pump, too.