Being frugal means not only knowing how to saving money but knowing how to make extra money as well.
There are multiple ways that frugal people can make extra money. Increasing your income is an important part of your overall financial health.
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How Frugal People Make Extra Money
#1 Using Cash Back Apps
Making use of Cashback apps are a quick and easy way to make extra money. This strategy is something you can implement that falls in line with your current spending habits.
Here are three of my favorite cash back programs. Each has a slightly different spin on how you earn cash back, but they all yield good results.
Dosh is a cash back app that pays you cash back when you shop,
To use Dosh, you simply download the Dosh app to your smartphone (works on iPhone and Android devices) and linking your credit or debit card to the app.
The key to earning cash back is using the credit or debit card that you have linked inside of the app.
The Dosh app shows you the vendors that are offering cash back deals and the percentage of cash back you will receive if you shop with them. Dosh works for both online and in-store purchases.
Current Dosh vendors include Sams Club, Walmart, Exon, and many of the stores you shop at daily. Getting cash back for standard purchases is a perfect way to save money.
Dosh also has a referral program that helps you share Dosh with your friends an family. They will pay you $5 for every person that you get to download the app and add their first credit or debit card.
Download the Dosh App and start earning extra money auto-magically. (Note: Make sure you click on this link from your smartphone)
Related Post: How to Save Money with the Dosh App
Ebates is a cash back program that allows you to earn cash back while shopping using the Ebates website or the Ebates App.
To use Ebates, you simply browse the Ebate site which shows the stores that are offering coupons and cash back offers. You can redeem an offer by clicking on the “Shop Now” button if you are shopping online.
If you would like to redeem and in-store offer, you click the “Link Offer” button which allows you to link the credit or debit card that you plan to shop
Ebates has partnered with stores such as Macy’s, Walmart, Groupon, Barnes & Nobel, Old Navy, Gymboree, and Bath and Body Works just to name a few.
Ebates keeps track of your cash back balance and sends you payments every three months. You can choose to be paid via check or PayPal.
Ibotta allows you to use a smartphone app to earn cash back on in-store and mobile purchases. It is my favorite app for saving money on groceries.
They offer you 3 ways to earn cash back which include:
- Sending in receipts by taking a picture
- Linking loyalty cards from participating stores
- In-app purchases
Ibotta works with stores such as Walmart, Kroger, Food Lion, Publix, Walgreen, CVS Pharmacy, Best Buy, iTunes, Groupon, Hotels.com, Booking.com, eBay and many more.
They also has a referral program that allows you to earn $10 for every person you refer to their service.
Note: Referral program details are subject to change. Refer to the official Ibotta website for current referral program details.
Ibotta allows you to transfer your cash back earnings into your PayPal or Venmo account as soon as you have earned at least $20. You can also choose to convert your earnings into a gift card.
#2 Completing Online Surveys
Making extra money by completing surveys
You won’t become rich from completing surveys, but if you have some time on your hands you can make a few extra dollars a month to supplement your income.
Inbox Dollars is a site that pays you for taking surveys, watching tv, and even shopping. Advertisers pay Inbox Dollars to send them people who will do specific actions like taking surveys.
Inbox Dollars then pays its members for completing those actions. Advertisers pay Inbox Dollars then Inbox Dollars pays you part of what they have received for doing what an advertiser has requested.
Inbox Dollars also has a referral program where they will pay you 10% of the qualified earnings of anyone you refer to them. This allows you to make money on both the actions you complete and those of your referrals.
#3 Turing a Hobby Into a Business
You may already be doing something that you enjoy that can be used to make extra money.
Turning your hobby into a business allows you to do something you like doing and potentially make more than a little extra money.
Here are some hobbies that can easily be turned into money-making opportunities:
- DIY Crafts
- Home Decorating
- Shopping (personal shopping services)
- Drawing or Painting
You can turn your hobby into a business by selling your one of a kind creations. Shopify makes it easy to open your own online store.
With just a little thought and the word of mouth, you can start making extra money doing some of your favorite things.
Proofreading is a way to make money that I bet you have never thought of. There is a high demand for proofreading worldwide.
Proofreading is basically reviewing what someone else has written with a fine tooth comb and correcting errors.
Believe it or not, there are some proofreaders out there that make over $40K working for themselves.
If this sounds interesting to you, check out this free intro workshop by Proofread Anywhere. It’s a free course that will help you figure out if proofreading is something you might enjoy.
#5 Selling Unwanted Items
Selling items that you no longer want is a good way to make quick cash.
If your items are in good condition you can sell them on sites like the Facebook Marketplace, Poshmart, or Let Go.
Consignment shops are also a good place to get money for unwanted clothing items.
Start Increasing your Income
As you can see there are many smart and frugal ways to make extra cash. Using your money wisely and using these frugal ways to make extra income will go a long way to help your budget.
Leave a comment and share some of the frugal ways that you make extra money.
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