How to Make Extra Cash
Figuring out how to make extra cash can be difficult and will require sacrificing your free time and putting in hard work. Having and knowing how to make cash is an important part of budgeting and ensuring that you have enough money from month-to-month, for yourself or for your family. A large part of people in the United States live paycheck-to-paycheck and often do not have enough money to begin saving for their future. But thanks to innovators and visionaries, it is now easier than ever to find ways to make extra cash in your downtime.
Why is Cash Important?
First, what is cash? Cash is money that you are free to do whatever you want with, whenever you want. Cash is known as being liquid, meaning that it does not have to go through any sort of transformation before you can spend it on something else. It also does not have to be the paper dollar bill either. According to many different CEOs, entrepreneurs, and business moguls, cash is one of the single most important assets that you can own. As the saying goes, “revenue is vanity, profit is sanity, but cash is king.”
How Can You Make Extra Cash?
Everyone could always use more cash, especially as Americans are sinking deeper and deeper into credit card debt, student loan debt, and new car loans. That’s why we are going to share with you two ways to make extra cash that do not have high barriers to entry, such as finding a second part-time job, and allow you to work on your own schedule.
Side Gigs
Thanks to the internet, side gigs are now as easy as ever to find. There are all different kinds of side gigs. There are side gigs from home, side gigs that require you to drive around, and there are always some side gigs near you! All it takes is a quick Google search, and you can find yourself your next cash-making opportunity in no time.
Downsizing
What is downsizing? Downsizing means reducing the number of things you own, or the size of things you own to better match your actual needs. Not everyone needs a huge house, huge car, or a countless number of possessions. These things can be sold for cash and allow you to purchase something that allows you to better live within your means.
What Kind of Side Gigs Are There?
There is no lack of potential side gigs out there, and there is an entire group of workers who depends on these side gigs for their income, known as the gig economy. The best way to find which suits your skills is to find out what kinds of side gigs there are.
Ride-Sharing Services
We are sure you have heard of ride-sharing services like Uber, and Lyft. These companies allow people with cars to act as a taxi service for others who need a ride. While this might sound dangerous, major companies have been doing what they can to keep both drivers and passengers safe. Some people have made six figures or more just driving for these services.
Delivery Drivers
There are a growing number of delivery gigs as companies like Uber have expanded into food delivery. There are many different food delivery services that always need delivery drivers. Delivery side gigs are becoming one of the leading side gigs in the gig economy.
Freelance
Freelance gigs are great if you are a good writer, know your way around a website and how to improve it, or went to school for design. Companies are always looking for creators that can help create more original content or have a successful presence on social media.
Downsizing
Nearly everyone downsizes at some point in their lives. Some people live in more house than they need, so they sell the house to move into something smaller. Some people own a car that is too big for their actual needs, so they sell it and buy something smaller. There are many different reasons to downsize parts of your life and it is not as difficult as it may seem.
How to Downsize Your Home
One thing that might help you get started downsizing is by listing what you do and do not like about your current home. Do you have a lot of space? Or is it too much space? Bigger homes mean more cleaning because they will get dirtier faster and its easier to miss certain rooms or areas. If you feel like you have too much stuff, maybe it would be better to sell some of it to be more comfortable in your home.
Downsizing your home is not a bad thing and it does not always mean selling your home to live in a smaller house. It can also mean selling some of your things so that you are more comfortable in your home.
How to Downsize Your Car
Much like your home, are you driving more car than you need? Maybe an SUV is too much for you and gas is getting too expensive. In this case, you can sell your SUV and buy mid-sized sedan which might be better suited to your needs. Not only that, you could also downsize your car payment by driving a cheaper car. SUVs tend to be expensive, especially new, so why not buy an older SUV or a smaller car that is cheaper?
The idea behind downsizing is living within your means. It may amaze you how much money you spend on certain things in your life because of other things you own. Biggers cars mean more gas and larger maintenance bills.
How Can Downsizing Your Car Make You Extra Cash?
You should probably think about how much money your car costs you in a month. Maybe even list some of these costs out and estimate the amount of money that it costs you. Driving bigger vehicles means buying more gas and subpar gas mileage. Not only that, when bigger vehicles need maintenance or repairs, but they can also be even more expensive than your typical commuter car. Knowing how to save money is a big part of knowing how to make extra cash.
Does Size Matter to You?
If you have a truck but do not haul or tow things very often, do you really need a truck? Trucks can be expensive new, gas thirsty, and their maintenance can be pricy as well. Not to mention, some brands of trucks are not necessarily known for their reliability. Keep in mind, are you using your vehicle for its actual intended use?
Do You Like to Ride in Style?
If you prefer your luxury sedans and land yachts, may we suggest a cheaper alternative? Instead of a Mercedes-Benz with high-maintenance costs, and less than impressive gas mileage, try a Lexus ES. It is still stylish but is one of the luxury cars with the lowest maintenance cost in the automotive industry. It also has the best gas mileage among luxury cars as well.
Downsizing by Selling an Unneeded Car
Some people might have a less complicated issue, they just have too many cars! This can happen if you get into an accident and decide that you would get a better deal if you sold it yourself, or you did not have full coverage insurance on a car. Some people just have cars that are old, and they are ready to sell to move onto something new. No matter the case, downsizing the number of cars you have and getting cash for your old cars is one of the best ways how to make extra cash!
Sell Your Old Car for Cash
Many people are the kinds of car owners that drive a car until it dies for good. If this is you, you might be reaching that point with your old car. There is not any severe damage, but it has its scratches, dents, dings, and normal wear-and-tear. You can read more about selling your old car for cash here!
Sell Your Junk Car for Cash
Maybe you have a junk car, or a car that has severe mechanical damage, body damage, or is not drivable anymore. If this is you, selling a junk car for cash is easy and there are plenty of people who will be interested. You can read more about getting money for your junk car here!
Sell Your Totaled Car
If you have a car that was in an accident and declared totaled by your insurance company, and you did not have full coverage insurance, you can still sell it for cash! Your car might have a salvage title now but there are still plenty of interested buyers. You can read more about selling your totaled car here!
How Much Cash Can You Expect?
This first thing you should keep in mind when selling your car is what others will be looking for when deciding how much to offer you. You should also determine what your car is worth using evaluation tools like Kelley Blue Book. Some other things you should be wary of are:
- The year the car was made
- The make
- The model
- The condition of the car
- The title status of the car
Keep in mind that most of the places that offer to give you cash are looking to make money on your vehicle even after they buy it from you. For example, selling your car to a junkyard will not get you the same amount of money as selling your car to a car buyer. You can read more about junkyards here!
Expect Between $300 and $500
Realistically, expect $300 to $500 for any of the three types of cars listed above. $500 in cash for junk cars is typically the standard, but that price can vary dramatically based on who the offer is from, and how much they value it. You can read more about how much cash you can expect for your car here!
Trade-In Your Car for Cash or Trade-In Value?
Many people will opt to trade-in their car for credit towards their purchase of a new car. While this is good for some looking to get another car, it is one of the worst ways to get cash for your car. It can be a frustrating experience dealing with car dealership salesmen and they will often give you the lowest offer on your car.
Does Paying in Cash Give You the Upper Hand at Dealerships?
Will car dealers give you a discount for cash? The answer is yes if you are buying an older, used car. If you are buying a new car, these dealerships do not care whether the car is paid for in cash or if it’s financed. They might make you think that you are getting a good deal when they are just trying to make the sale. You can read more about cash and car dealerships here!
The Best Way to Make Extra Cash, Sell Your Car for Cash to CashForCars.com!
A lot of people are unaware that there are businesses that exist to buy cars from the public. They make it easy and even provide junk car removal for cash! If you need to have your junk car removed, read more about getting cash for your junk car and its removal here!
CashForCars.com is the premier car buyer in the auto industry and we make it easy to sell your car for cash, all in 24 hours or less! It is a simple three-step process:
- Give us a call at 800-227-2893 and speak to one of our offer specialists.
- They will give you your guaranteed quote and set up your time and place for the pick-up.
- Meet your tow driver at the designated time and place and have you check in-hand, all in 24 hours or less!
If you do not know how to make extra cash, downsizing by selling any extra cars you own is a great way. Fill out our instant online quote to see how much cash you could get for your car! If you want to sell to the best car buyers that will tow your car for cash, look no further than CashForCars.com!
If you need help selling your car, check out our guide here!
