How to make extra money with skills you already have


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It’s mind-blowing that more people don’t use the common skills and resources they already have to make significant extra income.

As you’ll see, this can be an easy mission to accomplish.

By the time you finish reading this, you’ll know exactly how to create significant extra income to vanquish your debt and bump up your credit score. 

You’ll also understand that you can get this done so much faster than you may think. It’s exciting. Let’s get to work.

Why you may need extra income to solve your credit problems

If your bad credit is caused in part by unpaid or past due balances, then the single best strategy you can implement to improve your credit is to pay those balances off pronto.

Let’s face it. It’s likely that those bills went unpaid because you didn’t have the money to pay them. 

It follows that you need to generate extra income in order to pay them off. 

However, that extra income can help in other ways you may not even see right now. 

For example, once you pay down credit card balances, you automatically improve your credit utilization ratio. This is the amount of combined credit card debt you owe divided by your combined available credit limits. 

The closer that you can move this ratio to 30% or less, the more your credit score will improve. 

Once that happens, you’ll find it easier to get a lower credit card rate or refinance current debt. 

You’ll also discover that lower credit utilization and a better credit score will help you get better career offers down the line. 

Additionally, if you are trying to negotiate settling your debts for less than the full amount owed, you’ll have more bargaining power as your income goes up.

For example, if you owe $2,000 on a credit line, you may be able to get the lender to accept $1,000 in satisfaction of the loan. 

In order to do that, though, you may need extra income to accumulate the money that will be necessary for the settlement offer. 

If you don’t have the income, the creditor doesn’t have any reason to expect that you’ll pay off any amount, so they may stick to their guns and be less flexible. 

With so much to gain by earning even just a little more every month, the question is this: What are the best ways to generate extra income?

1. Getting a side gig or second job

This is probably the most obvious way to generate extra income. Lots of people don’t like this idea because it involves spending time outside the house. 

Remember that this isn’t going to last forever and that the time you invest will provide a lifetime of benefits as you solve your credit problems. That sounds like a win-win if you ask me. 

I recently did a deep dive into Uber, and I personally think that it’s a great fit for people who are looking for a quick solution to their debt and credit score problems. You can get to work within 10 days and start putting money in your pocket.

You don’t need training or special skills, and you set your own hours. Boom.

There’s another benefit to Uber as well: Using this gig to find a better full-time gig. 

Here’s what I mean. When you drive for Uber, you meet a lot of people every day. 

Why not have your resume handy and use your drive time to network? To me, this is a no-brainer. 

It’s like getting paid to look for a better job. Pinch me, I think I’m dreaming.

Alternatively, you could consider becoming a professional proofreader. If you are the kind of person who easily spots mistakes in articles, books and stories, this could be your golden ticket. 

There is a low barrier to entry and plenty of demand for highly qualified proofreaders.

2. Let your assets make you money

Looking for another fantastic way to earn side cash without spending much time doing it? 

Consider becoming an Airbnb host. When you sign with Airbnb, your home or apartment goes to work for you. 

Yes, you’ll have to screen potential guests and respond to inquiries. Yes, you’ll also have to check visitors in and out. 

But the cool thing about this idea is that most of the revenue you receive is generated by an asset you already have: Your home. 

It’s just sitting there. Why not put it to work for you? 

Depending on how much space you have, you can either list a room occasionally, or (if the numbers are right), you might consider listing your entire home or apartment and staying elsewhere when you have paying guests. 

Think about it: If your rent is $1500 a month but you can list your place for $150 a night, you only have to book your home for 10 days a month to live rent-free. How long would it take to pay a debt with this approach? Probably not long. 

If you are really entrepreneurial and/or have limited space, why not become an Airbnb magnate and manage some of your friends’ listings for them?

Tell your friends about the opportunity, but also tell them that you’ll do all the work for a cut of the action. 

This way, you don’t have to give up your living space, you have greater inventory to offer, you have the potential to earn a heck of a lot more money and you help your friends put some cash in their pockets, too. 

Of course, there are some expenses associated with running this business. Most are pretty low but, depending on where you live, you might have a sales and occupancy tax. That will eat into your earnings. 

This gig isn’t for everyone, either. Make sure that there are no legal restrictions that prohibit you from being a host. Get the right insurance and ensure that your furnishings are appropriate. 

To succeed in this endeavor, you’ll have to learn how to filter inappropriate guests, have a smart pricing schedule and write an appealing blurb to catch travelers’ eyes.

You might also need to do some Facebook marketing, but all of this is easy to learn and do. 

Additionally, if you are looking for a way to put serious dollars in your pocket without spending tons of time doing it, this could be your ticket. 

If driving or becoming an Airbnb host isn’t for you, though, find something else. Whatever you do, turn your down time into dollars with a part-time job and pay down that debt, pilgrim.

3. Take advantage of income opportunities at your current job

You might have opportunities to earn extra income at your current job that have gone overlooked until now. Obviously, you should work any overtime that you can get. 

There may also be various bonuses available that aren’t particularly well-known or well-used, however. Learn to negotiate with your boss to be compensated for extra effort. 

For example, find out if your employer pays referral bonuses for recommending new employees, customers or clients. 

Some employers pay bonuses for these referrals. That might amount to several hundred dollars. 

Once you determine what your employer is willing to pay extra for, make sure you excel in that area. This become a steady income enhancement.

4. Sell some possessions

Most people have a bunch of things in their homes that they use rarely, if at all. 

Try selling those items on eBay, Craigslist or even at a garage sale. 

If you are like most people I know, you have hundreds of dollars’ worth of possessions lying around the house that could be used to pay down debt, or to settle one. 

Also, please don’t forget about refinancing your debt, especially student loans. If you can shave a few points off the interest on your loans, you can plow that money into the balance and get out of debt a lot faster!

5. Pick up contract work or start a side business

Starting your own small side business can be more complicated than the other methods described above, but it can also turn into a permanent cash flow. 

Additionally, you can get started with little to no cash and be up and running within a month or two. 

This could not only help you solve your current credit and debt problems, but also give you the cash you need to help avoid getting into a debt/credit fix again in the future.

Start by completing an inventory of the various skills that you have. This accounting should include skills that you use both on the job and off. 

You don’t have to be a certified expert in a field to make money in it. As long as you are good, trustworthy and responsible, you will find people who will pay you to do such work. Guaranteed. 

The beauty is that once you get a business going and start receiving some referrals, you will be in business for the long haul and that sweet cash will continue to roll your way. 

That can help solve a lot more than your credit problems.

If extra income won’t help fix your credit problems…

There are times when credit problems are so severe that no matter what you do on your own, it won’t be enough. If that describes your situation, then your best strategy is to seek professional help. 

You can try to fix your credit yourself, but often a competent credit law firm will be your best option. They can often help you fix your credit problems in the shortest amount of time possible and with the least amount of discomfort. 

For the absolute best approach, combine that professional help with your own efforts to generate extra income. 

When you do that, the whole process works even better. The more money you have available to settle debts, the easier it will be even for a law firm to solve your credit problems. 

Do what you can to get the extra income you need to fix your credit. Seek the help of a credit law firm if your own efforts fall short.

Make this count

I know with absolute certainty that some of the ideas I’ve presented can change your life or the lives of people you love and care about. 

The thing is, you never know who needs this or how it might strike them. Ideas impact different people differently at different times, right? 

If there is someone whom you think needs this information, consider sharing it with them.

Regardless of what your friends do with this information, you are at least providing an opportunity for them to take back control of their future. I can’t think of a better gift than that. 

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