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Beat the recession: 3 Ways to Generate Extra Cash

While most people are familiar with traditional methods of earning extra cash, such as taking on a part-time job or selling unwanted items, many unconventional methods can be equally effective.

Car Wrap Advertising

If you’re OK with the idea of essentially turning your car into a giant billboard, car wrap advertising might be a viable option for you. With car wrap advertising, a business pays you to have your car wrapped with a promotional message. This type of advertising makes sense for companies that want to reach a large audience in a specific geographic area. The concept is a win-win: you get to generate extra cash, and the business gets to promote its products or services.

How Car Wrap Advertising Works

It’s very simple: your car gets “wrapped” in a vinyl decal supplied by the company that’s using your car as a promotional vehicle (pun intended!). This decal typically carries the company’s logo or message and is applied to your car’s exterior. The companies that choose to promote themselves in this manner reach out to advertising agencies that specialize in vehicle wraps, and that’s usually who you will be dealing with.

How to Qualify

  • Be at least 18 years old (21 for Wrapify), have a clean driving record, and pass a background check
  • Have a clean and well-maintained car that is less than 10 years old.
  • Be willing to commit to driving with the car wrap for at least a few months.

How to Avoid Getting Scammed

  1. Check the company’s reputation. Do your research and find people who have had experience with them. Also, check online reviews to get an idea of what other people have thought about the company.
  2. Be leery of super-high payouts. This is not a get-rich-quick scheme. It is, at best, a nice little supplement and in most cases will not provide a full-time income.
  3. Partner with a company that has a good design team. The design of your car wrap is important – it needs to be eye-catching and professional if it’s going to be effective. A good design team will be able to create a wrap that meets these criteria.

Why Would a Company Pay you for Car Wrap Advertising

Car wraps

  • are a relatively low-cost form of advertising when compared to other options such as television or radio commercials.
  • can be very effective in reaching a specific target audience, as they are often seen by a large number of people every day.
  • offer a unique form of advertising that can help a company stand out from its competitors.

How much money can you make?

Let’s be clear here: you are not going to be raking in thousands of dollars a month. If you’re dealing with a legitimate company, expect to earn a few hundred dollars.

  • Carvertise requires a daily driving commitment of 30 miles. The company says you can make $300 to $1,200 a month. Expect average monthly earnings to be closer to the lower end of that range.
  • Wrapify offers a similar payout level. But although they don’t have a minimum daily commitment, they do cap the number of miles you get compensated for. You can make as much as $500 per month for 35 hours of daily driving through in-demand areas.

Can I drive for Uber or Lyft if I have a car wrap on?

No. Uber and Lyft have explicit rules against ads on your car exterior. Options like Uber OOH and Lyft Halo will be reviewed in future posts.

Sell your items that are in good condition

Sell your items to resale shops

Resale shops buy and sell used goods, from clothes to furniture to books. In many cases, they will pay you cash on the spot for your unwanted items. Another perk is that selling to a resale shop is often quicker and easier than selling through other channels, such as online classifieds or garage sales. And because you are providing them with inventory, you are helping to support a local business.

Make sure the items you bring are in good condition and clean. Most shops will not accept items that are damaged or dirty. You should also research the shop ahead of time to see what type of items they accept. For example, some shops specialize in clothing, while others focus on furniture or household goods.

By taking the time to research and prepare your items, you maximize your odds of selling them.

If you need cash and have unwanted items to clear out, remember that a resale shop may be the perfect solution.

Have a garage sale

Here are a few tips to turn a profit on items you are not using.

Advertising and Marketing: 

Assess everything you want to sell at your garage- or yard sale. If your inventory includes some used furniture (which tend to be higher priced items), then you might want to invest a little money in a local ad so you can attract more potential buyers. Make sure that your ad is posted the day before, and the day of, your sale date.

Signs: 

Post signs up the day of your sale, typically very early in the morning works best, as most garage sales start at 9:00 AM, some as early as 8:30 to catch the “early-bird garagers.”

Make sure to have in bold, easy-to-read lettering all the pertinent details of the sale on your sign: The day, date, and time (start & end time) and exact street address. If there is a landmark near your home that you could list that is helpful, or the cross street, anything that offers a brief locator. And if it is a neighborhood or multi-family sale then add that to your signs too.

Preparation:

A month before the sale, try to involve your neighbors, friends, and family (the more the better) so that you can have a multi-family garage sale, a group sale is always better than just one garage sale since it will attract even more customers. In addition, you also can share the cost of any ads you run.

Several weeks before the sale, start collecting plenty of used bags and some boxes so that people can carry home their purchases. Also, you will need used newspaper for wrapping fragile items.

On a weekday before the sale, check that you have enough small bills and change in various denominations. We recommend $50.00 worth, just in case people show up with cash (unlikely, I know, but it’s best to be prepared). The vast majority of your sales will be processed via card, so be ready to accept debit and credit cards. Most processing services can equip you with a card reader to make the process easy.

Organizing and Merchandising: 

You will need tables to display your items such as folded clothes, or fragile items. If you don’t have enough tables, arrange to borrow some. Take the time to make sure everything is laundered and neatly folded. You have a better chance of selling used items if they are ironed and stain-free.

If you have a clothing rack or can borrow one for the day of the sale that is great, the more items at eye level, the better. Also place big-ticket popular items (furniture, toys, and tools) where they are most visible.

Pricing and Bargaining: 

We recommend putting price labels on furniture. But group other items together with signs that read one price. For example, a box that has books in it could read “Paperback Books $1 each.” Or, “All clothes $5.00 Each.”   About 2 hours before your sale ends, a good strategy is to change your signs to read “Buy One Get One Free.” Be available to answer questions and negotiate prices.

Special mention for higher-priced items

Jewelry and vintage clothing are better sold in other settings where you can get paid closer to what they are worth. We don’t recommend selling such items at a garage- or yard sale.

Use an online marketplace like eBay, Craigslist, or Amazon to sell your items

These platforms are popular for a reason, and they make it easy to sell your items to buyers all over the world. Create an account, list your item(s) with some photos and a description, and promote your wares using your social media presence. You can choose to have the buyer pay for shipping or you can offer to meet up in person if they are local. For more information, check out our post about making money from online auctions.

Sell items on consignment at a nearby store (not recommended!)

With consignment shops, you have to wait to get paid for your items, and you only get paid if said items sell. While this option deserves an honorable mention, it’s generally not a great way to get rid of things quickly or make the most money.

Get paid for your opinions

Taking online surveys is a great way to make some extra money in your spare time. All you need is an opinion and access to the internet. Companies are always looking for ways to improve their products and services, and they need feedback from consumers like you to do that. You get to share your opinions on everything from food and drink to clothes and gadgets.

  1. Join a survey panel. Many different companies offer online surveys. Some of the more popular ones include Survey Junkie, Swagbucks, and InboxDollars.
  2. Create an account. You will need to provide some basic information about yourself to create an account. This includes your name, email address, and date of birth.
  3. Complete surveys. Once you have an account, you can start completing surveys. Each survey will take 10-15 minutes to complete. Get paid.

Most survey panels will pay you in cash (via PayPal or check) or in points that can be redeemed for gift cards or other rewards. Be sure to cash out your earnings when you reach the minimum amount required.

Just be sure to read the terms and conditions before you sign up for anything. There are a lot of scams out there!

And remember, you won’t get rich from taking online surveys – but it’s a great way to make some extra spending money!

Bonus: Other ways to make extra money!

Here are a few more ideas:

– Be a pet sitter, dog walker, or house cleaner

– Work as a personal assistant or errand runner.

– Offer your services as a freelance writer, editor, or graphic designer.

– Promote yourself as a party planner or event coordinator.

– Rent out a room in your house on Airbnb

– Do odd jobs for people in your community

– Offer your skills as a tutor or mentor

– Sell handmade crafts or goods online

The post Beat the recession: 3 Ways to Generate Extra Cash appeared first on Personal Finance Sherpa.



This post first appeared on Personal Finance Sherpa, please read the originial post: here

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