When you’re ready to knock down that mortgage debt (or at least pay off enough to make refinancing worthwhile), you’re going to need a little extra money to accomplish your goal. Unless you’re in line for a big promotion or a more lucrative career change, you might need to be a little creative in how you come up with that money. If you don’t have time to take up a second job, try some novel moneymaking methods that require a little less commitment.
1. Become a Freelancer
Can you write, proofread, or edit? That’s all you need to do to become a freelancer. You can use your spare time to work for money, and you get to set your own rates. If your educational experience or career track is relevant to the kind of freelancing you’re interested in, you’d be surprised how much you can charge. Since you make your own schedule, you can use it as a weekend gig or a post-work opportunity to rake in some extra cash.
2. Buy and Sell Websites
People trade websites like antiques. There’s always fast money to be made on the internet. You can make your own websites and sell them, or purchase websites that have already been created. The next step is to find a safe, reliable buyer who would be willing to pay top dollar for them. Websites that have longevity or new websites that cater to rising trends are top picks, whether you’re creating or buying to resell.
3. Do What You Love Doing
There’s money to be made in almost every hobby. If you like photography, you can sell your images as stock photos. If you’re an avid quilter, you can create personalized quilts. If you’re an artist, you can do portraits on commission. There’s always going to be someone who likes your hobby, but can’t do it themselves. If you’re truly good at your craft, there’s someone willing to pay for it. Just set yourself up online, do a little networking, and see what happens.
4. Get Out of the House
Do someone else’s chores for them. People have dogs that need to be walked, lawns that need to be mowed, and houses that need to be painted. These are great ways to earn some extra money on the weekends, and because they’re physical jobs, they’re also healthy for you. It’s a great combination of extra mortgage money and exercise. Save on the gym membership and get paid while you’re squeezing in that workout.
5. Use Your House
Your extra bedroom would make a wonderful weekend rental to someone traveling through town. If you’re comfortable doing so, you can even offer up your extra space on a weekly basis. If you have extra room but you don’t necessarily want to share your space with people you don’t know, you can use that space for storage. For a small fee, you can allow people to temporary store things in your home. If you have a two-car garage, you can rent out the extra space as a long-term parking facility. You’d be surprised how many people will take you up on that offer if you live near a major airport.
As long as you can find the time and aren’t afraid to put in a little effort, there are countless ways to toss in some more cash to the mortgage fund. As long as you’re budgeting properly and thinking for the future, you’ll pay the mortgage off in no time.