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Ways to make extra money

V

VinylxScratches

Golden Member
I have a decent job 60000+ a year but I need to make more money somehow.

Currently only pay 600 a month for rent and I have no debt. I have 25000+ saved. Maybe somewhere where I can invest it in? My savings account interest sucks.

Any ideas?

I was thinking about trying to find a retail job or something. I do have technical skills in networking and web development.

Any ideas?
 
VinylxScratches said:
Ways to make extra money

I have a decent job 60000+ a year but I need to make more money somehow.

Currently only pay 600 a month for rent and I have no debt. I have 25000+ saved. Maybe somewhere where I can invest it in? My savings account interest sucks.

Any ideas?

I was thinking about trying to find a retail job or something. I do have technical skills in networking and web development.

Any ideas?
Click to expand...

WTF???

Feds should be investigating this OP for Hookers and Blow
 
> Maybe somewhere where I can invest it in? My savings account interest sucks.

A reasonably safe investment if you don't need the money for several years and can ride out market dips: S&P 500 index fund or ETF. Aside from growth, the dividends paid by the S&P have been much higher than savings accounts, and the tax rate is lower.

There aren't any reasonably safe investments that will earn more, not even Glenn Beck Gold (tm).
 
DaveSimmons said:
> Maybe somewhere where I can invest it in? My savings account interest sucks.

A reasonably safe investment if you don't need the money for several years and can ride out market dips: S&P 500 index fund or ETF. Aside from growth, the dividends paid by the S&P have been much higher than savings accounts, and the tax rate is lower.

There aren't any reasonably safe investments that will earn more, not even Glenn Beck Gold (tm).
Click to expand...

How do I invest in the S & P? I have a zecco account. Do I pick out the stocks that are part of it?
 
VinylxScratches said:
How do I invest in the S & P? I have a zecco account. Do I pick out the stocks that are part of it?
Click to expand...

Index fund like Vanguard VFINX, or an ETF (exchange traded fund). With an index fund you can have dividends automatically reinvested with no trading cost for that.

VFINX - https://personal.vanguard.com/us/funds/snapshot?FundId=0040&FundIntExt=INT

Zecco might offer other S&P 500 funds, but pay attention to the expense ratio for the fund. Some charge much more than Vanguard which will eat into your growth.
 
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not sure what you mean by you "need" to make more money, but if there is any hint of urgency or timing requirement, investing in the stock market may not be a good idea, as your money could be tied up for a quite a while during market downturns.
 
dighn said:
not sure what you mean by you "need" to make more money, but if there is any hint of urgency or timing requirement, investing in the stock market may not be a good idea, as your money could be tied up for a quite a while during market downturns.
Click to expand...

This. It's good if you want to save for retirement but if you want to save for a down payment on a house next year it's less likely to do what you want.
 
I've been making a nice side amount buying stuff on clearance from stores (Meijer is fantastic for this if you have one nearby. I'm really lucky and have 2 nearby. Target can be good at times. Walmart is almost never worthwhile) and selling it on Amazon.com

Really easy to do and has little up front costs. Just keep an eye out on a place like slickdeals.net for target clearance deals (highly variable from store to store, but always good to know what might be really cheap).

For a bit more of a challenge try the same idea at Goodwill or some other thrift stores. It is far less consistent, and you have to deal with selling used items, but from time to time you can snag some sweet deals.

Just as examples. At Meijer I bought 12 sets of mini-cassette tapes for 75 cents each, sold them for about $5 profit each on Amazon.com. Or a bunch of Linksys routers for between $10 and $15 that I sold for $25-$30. Or from Target, 4 tomtom gps units for $55 that I sold for $110.

You won't make a huge amount of money, as this requires sweet deals from retail stores. But when they do come around (and they come around surprisingly often at Meijer, which is why I love them so much) you can make some really easy money.
 
OP, if you can't afford to lose the money, do the reward checking programs. They are paying 3% APY right now.

Yes, you have to do some work but it is easy, I have about 3 accounts right now and will get 2 more soon.
 
What is your profession? Can you use your professional skills on the side? Your professional skills are worth more than most of the other opportunities for a supplementary income.
 
Start a website with a purpose, be it a game server, or just tech information, or w/e. Google adsense, profit. But since you have 25k saved, you can probably invest some of it into something better. Maybe build a couple servers for like 5k (don't blow all the cash in one go), collocate them, and offer some kind of service.
 
Take night classes in something that will increase your professional knowledge. Two years of night classes could get you a raise of $5k or a new job for $10k more.
 
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