6 Ways to Earn More Money — Without Working More Hours

By Amanda Gokee on 11 April 2017 0 comments

If you're tired of a job that doesn't pay enough, it may be time for a change. The good news is, that doesn't necessarily mean you have to work endless hours. Here's how to flip your work-to-earnings ratio.

1. Take less desirable shifts

Some jobs offer financial incentives either for working overtime or for working undesirable shifts, such as overnights, or during weekends or holidays. Shift differentials are particularly common in manufacturing, customer service, information technology, and health care. Sometimes you can earn time-and-a-half (1.5x your base pay) for signing up for these shifts.

You'll be doing the same work as always, but earning something extra for your trouble. Conversely, if you're looking to work fewer hours in the future, some jobs will allow you to bank the overtime hours you put in. Ask your boss about these options.

2. Set up passive revenue streams

For those who have online content businesses, setting up a passive revenue stream is an excellent way to earn more without putting in endless work hours. A passive revenue stream will require some setup work, but then it has the potential to continue earning for you without continued maintenance. (See also: 15 Ways to Make Money Outside Your Day Job)

For example, you may have a blog that's gained a nice following. You can earn money on the blog by selling advertising or creating links for affiliate marketing, which can easily be set up with online retailers such as Amazon. Pat Flynn is at the forefront of this movement. His model mostly involves creating websites with valuable content, such as a niche e-books, podcasts, or online training courses.

The key to earning money is generating traffic, which is why it's critical to select the right content niche using keyword research. Once you've created the content, you'll need to market it to your audience via social media or email lists.

If you've got a popular YouTube channel, it can also generate a passive revenue stream. It usually takes a while to grow an audience and have your videos rank well, but if you turn on monetization (meaning, you allow YouTube to show ads on your videos), you could start earning a nice side income from your most viewed videos. (See also: 5 Social Media Stars Who Earn Way More Than You)

3. Get paid to do what you love

It doesn't feel like work if you love doing it, right? You might not even call it work.

If you love to make jewelry, pottery, sew, knit, or do other kinds of crafts, you can sell your wares on websites such as eBay or Etsy, or face-to-face at craft fairs. Gardeners can make money by opening a booth at a local farmers market. (See also: 5 Best Sites to Sell Your Arts and Crafts)

A friend of mine who is an amazing photographer recently started selling calendars to friends and family with some of her most beautiful prints. She earns $20 of profit on every calendar that she sells, and she hasn't had to invest much extra time to get the calendars made. She gets her customers through word-of-mouth referrals and social media. You may be pleasantly surprised how much reach you can have with social media marketing.

The same is true if you have a particular skill that is in demand. You can start your own consulting business, either online or in-person, and start charging clients to do what you love. (See also: 5 Ways to Make More Money in Under 10 Hours a Week)

4. Earn money for the driving you already do

If you have a car and spend a lot of time commuting to work or school, or driving around for other purposes, companies will pay you to use your car for advertising space. It might sound tacky at first, but chances are you can think of a good use for the extra $100 a month that you stand to earn, without any extra cost to you.

If you're earning a bit of extra cash by driving, you may not have to pick up that extra overtime shift or work through holidays. Opt for reliable companies such as Carvertise and, as always, be aware of potential scams. (See also: 7 Ways to Earn Extra Money With Your Car)

5. Rent your space

By now, Airbnb is a household name, but there are other short-term rental platforms, too. You can use these platforms to earn a bit of extra cash if you have a spare room, a second home, or other type of property. Airbnb includes free rental insurance for hosts and, depending on where you live and how often you rent your property, you can earn $1,000 a month and up.

If you love it, you might consider investing in a property just for renting out through Airbnb. If you get the right deal on the right property, you could earn a lot more than leasing the place out. But be sure to check your local laws. Some municipalities restrict short-term rentals because they tend to drive up rent for local residents. (See also: This Is How You Rent Your Place on Airbnb)

6. Renegotiate your contract

If you're feeling in a rut with your job or you're ready to start a new contract, there are some unconventional work agreements that may help you to make more money. For instance, a friend of mine who works in marketing recently negotiated a new contract that allows her to work at the office about 20 hours a week. Outside of that, she's free to decide how much she wants to work, and she can do it from home.

She will receive a lower base salary per month than she did through her old full-time arrangement, but she will earn commissions on the sales that she makes. That makes it a good deal for both her employer and for her. If she works less, she will earn less, but she has the flexibility to decide. She also has the option to use some of her time outside the office to take up one of the other jobs listed above.

Of course, you can also go the traditional route and ask for a raise if you've been in the same position for about a year and you have compelling evidence to support your request. (See also: 5 Times You Should Demand a Raise)

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