Nearly everyone wants a little more money. The tricky part, of course, is figuring out how to make extra money. The good news is that, with a little planning and some careful thought, you can make more money. But it helps to have a plan:

What are Your Options?

Your first step is to identify your options. What can you do in terms of making extra money? If you have a job that allows it, you can stay later, or pick up an extra shift. Back when I was a waitress, a good way to make extra money was to take a turn on Friday night, when there were more people in the restaurant paying tips. If you have the time in the evening to work on a web site, you can make a little extra money with affiliate programs. For someone with the skill of woodworking, it is possible to create pieces that others might be willing to buy. If all you have is a few minutes each week, you can go to the nearest blood bank and be paid for a plasma donation.

Consider what you have the time and ability to do. Then, make a plan to exercise those options to make money.

Creating a Plan

If you want to be successful at making extra money with a side job, it helps to have a good plan. Think about what you need to make your venture successful. List supplies you might need if you want to make baby clothes. If you are going to monetize a web site, you will need a domain name, web server space and a number of other items. If you want to be a tutor, or a freelancer, you will need some sort of expertise.

After you know what you need, it’s time to set some goals designed to help you succeed. If you are allowed to work overtime at your job, you can set a goal to work one extra hour each day to get five hours of overtime. If you are crocheting doll outfits, set aside half an hour each evening to work. In some cases, you may have to schedule in time to research companies (if your method of making extra money is dividend investing), write ad copy (if you want to advertise in the Classifieds), look for a place to sell your items online (such as Etsy, eBay or Craig’s List) or set up an accounting system to keep track of your business income.

Map out the tasks you need to accomplish, and how much time you can devote to these tasks each day or week.

Stick With It

One of the most difficult parts of making extra money is sticking with. Few endeavors yield immediate results. You need to have the discipline to stick to your plan. If you want to make extra money with a web site, you have to realize that it can take months — or even more than a year — to build up your traffic to a level that allows you to earn money. Sometimes it takes a while for you to find clients as a freelancer, tutor or as a craftsperson, and build a customer base. However, if you keep working at it, you are likely to see your income grow.



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Comments | 3 Responses

  1. says

    I really like this;
    options, plan and then stick with it!

    There are so many long articles about doing x and y to make money. This is a simple, clear way to drill in three key areas.

    Sticking with it and planning are the most common mistakes people can make.

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