Wednesday, May 26, 2021

How to Make $1,000 in Only 6 Weeks


Recently, in a budget group I'm a member of, someone asked this question:
How can I make an extra $1,000 in 6 weeks? Besides get a job, or get a second job.

My answer:
  • Cancel all subscriptions: gym, magazines, Hulu, etc.
  • Avoid all delivery and convenience services: Grubhub, Doordash, Ubereats, etc.
  • Revise your transportations situation: downsize your car, or stop owning a car, which will also save you on car insurance

Here are some other ideas, organized by short versus long term:

  • Participate in paid wellness initiatives through your job, e.g. weight loss or smoking cessation
  • Use up your pantry or freezer stash
  • Sell items around your home
  • Proofread on Fiverr
  • Shop around for a better rate on your insurance or utilities, and/or ask your current providers for discounts
  • Temporarily scale back the amount of your income that you devote to retirement or kids' college savings (we're talking about doing this for a few months, not forever)
  • Refinance high-interest loans
  • Become a paid research test subject
  • Sell plasma (not something I would personally do)
  • Cancel anything with a recurring membership fee, e.g. credit cards with an annual fee
  • Become an influencer - get endorsements and earn commissions
  • Cook at home and eat leftovers - avoid dining out
  • Write a book and self-publish - earn passive income for years
  • Fix your items and/or buy secondhand instead of buying new - a penny saved is a penny earned
  • Never borrow money - don't pay interest on your purchases

You may wonder, "Where's the tip to use coupons?" or "Where's the tip to buy in bulk?" Coupons rarely net enough savings to merit the time it takes to clip them. Unless the purchase is quite large, like a refrigerator, coupons or rebates may not be worth it. As far as bulk purchases, the upfront cost to purchase would probably not net you savings in the short (6-week) timeframe.

Note that this post is not advice; this post is written for reader enjoyment only.

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