100 Ways to Improve 1% – Part 10
This post will be another part of my series “100 Ways to Improve 1%”.
If you are on the FIRE journey, then chances are you have already modified the “big-ticket” items when it comes to your expenses, this is looking at exploring some more fine-tuning touches you can make to your everyday life.
This list has been derived from the people at ChooseFI
Below are the links to the other sections that are part of this series:
Part 1 – Exercise and Personal Growth
Part 2 – Debt
Part 3 – Emergency Fund Savings
Part 4 – Home Expenses
Part 5 – Transportation Expenses
Part 6 – Groceries and Dining Out
Part 7 – Shopping and Services
Part 8 – Internet, Phone and Entertainment
Part 9 – Travel and Sightseeing
Part 10 – Earning Extra Money
Part 11 – Investing and Retirement Planning
Part 12 – Job and Career
Part 10 – Earning Extra Money
84) Start a Side Hustle That You Can Do With Low Overhead
Side Hustles can be effective ways to make additional income, but they can also take up a lot of time and end up not being profitable. If you are interested in starting a side hustle, then starting one with low overhead (freelance writing, software coding, dog walking for example) is ideal because it reduces the risk given the lower initial outlay.
Low overhead also means more profit and ability to either invest in the side hustle and grow, or invest in your portfolio and grow your assets there.
85) Rent Out A Spare Room on Airbnb
It might be too much to permanently rent out a spare room in your place, and although the extra income might be appreciated, it might not be worth it. Putting it up on Airbnb might be a solution where you can get the extra income without having to put up with a permanent housemate.
Hosting a place on Airbnb can be done on your terms, and only when you want the spare room to be available. It is a great way to make use of a spare room in your place if you have one, especially if you live in an area that people travel to frequently.
86) Rent Out Your Car
If you have a car that sits on your driveway most of the day, you might be able to rent it out for a few hours at a time for a bit of extra income into your pocket. Providers like Car Next Door provide all the insurances needed, so if you can regularly spare your car it can definitely be a good financial move.
87) Rent Out Your Empty Garage or Shed
I feel like you can basically rent out anything you own these days, if you have space in your garage/shed, then you might be able to find someone who might be willing to rent the area to put things they would traditionally put into a storage unit.
88) Do Random Tasks
Places like Airtasker can be beneficial to do random tasks for people nearby for extra money. Especially if you have a unique set of skills that people are willing to pay for, it can become a profitable endeavour for you.
Or there are tasks that are very simple, but people are just time poor and willing to pay someone else to do it for themselves instead.