6 Offbeat Ways To Earn Quick Cash in a Rough Economy
If your algorithm is shouting at you about ways to make money, then you are likely familiar with all the old standards of investing and saving habits that will earn you compound interest. This year has proven to be filled with pitfalls such as rising costs and unpredictable income, which means more people are searching for creative ways to make quick cash.
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However, every side hustle comes with the trade-offs of time, effort or risk, so pick what works best for you. While traditional paths to financial security are well-trodden, the world is full of unconventional opportunities to make money. With a bit of creativity and effort, these unconventional methods can become a valuable part of your financial toolkit.
1. Rent Out Your Car for Passive Income
If your car sits unused for most of the day, you should tell it to get a job. Platforms like Turo can put it to work by letting you rent out your car for cash. On average, this can add up to $906 a month per car, according to the official website.
This turns a depreciating asset into a steady income stream. You don't have to reinvent the wheel, either, when these existing platforms help you rent out your vehicles during down times. This can be particularly profitable if you live in a tourist-centric location or a bustling urban area.
2. Monetize Your Extra Living Space (Even Your Backyard)
Sure, you’ve heard of Airbnb, but what about platforms like Hipcamp that make it easy to turn unused space into quick extra income? It’s estimated that hosts can make $10,000 a year on average, according to the official website.
That means homeowners or renters with flexible space can bring home some serious money throughout the year. Beyond just renting out your room or apartment, consider renting out your backyard for events or as a camping spot.
3. Teach a Weird (but Valuable) Skill Online
It’s time to get niche, because you can probably get paid for it. People are searching for everything from speed-solving Rubik’s Cubes to best practices for urban foraging. So for those with specialty hobbies or skills, it’s your time to shine on platforms like Skillshare which let you create an online course and earn passive income that can range in typical monthly earnings anywhere from $50 to $200 per class.
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4. Get Paid To Be a Virtual Friend
It sounds odd, but it’s real and largely due to the fact that making friends as an adult is awkward and hard. Apps like RentAFriend let you get paid $10 to $50 an hour for companionship, whether that’s showing someone around town, attending events or just chatting over coffee.
In an increasingly digital and sometimes lonely world, people are seeking connections in new ways and are willing to pay for it. If you are known to be a social butterfly, this could definitely be the side gig for you.
5. Become a Professional Mourner To Make Some Sad Money
Remember, these are unusual strategies to make some extra cash, and this one isn’t for everyone, but it’s a real (and surprisingly well-paying) niche market. Professional mourners are hired in some cultures and communities to potentially attend funerals, show emotional support and more. It’s an unconventional gig that highlights just how diverse money-making opportunities can be and is best for people comfortable with emotional settings.
6. Participate in Clinical Trials
If you're comfortable with it, participating in clinical trials can be a unique way to earn money and is one of the more lucrative ones to boot. Research institutions and pharmaceutical companies often pay participants to try new medications or health products. While it's important to consider the risks and thoroughly research the trial, it can be a rewarding experience both financially and in contributing to medical advancements.
Jordan Rosenfeld contributed to the reporting for this article.
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This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
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