This isn’t something that I’ve talked about a lot, but it’s pretty important:
When you start freelancing — or any kind of self-employment — you have to be careful with your money.
Even if you have few enough start-up costs that you can start taking a paycheck right away, you still have to be careful with what you spend.
Freelance income is unreliable: one month you may make two or three times your living expenses, another month you may not even make rent. You have to budget carefully and always make sure that you are living below your means so that when those lean months do come around, you are ready for them.
When I first started freelancing, I was not one of those smart cookies who saved a giant cash cushion. So I had to figure out a few tricks to make my budget stretch and earn a little extra cash while I was waiting for those clients to turn up.
Making the budget stretch wasn’t too hard. I’m not a big spender, I love crock pot meals, and I already check our spending monthly to make sure we’re not going overboard.
But making a little extra cash while still leaving enough time for marketing, writing, learning, not to mention staying available for work that came in? That was a little trickier. Here are five of the ways I scraped up a few extra bucks during those first few lean months:
5 Ways to Earn Extra Cash When You Start Freelancing
1. Ebates: This is one of my favorite little tricks. If you buy a lot of things online — clothes, household goods, toiletries, whatever you need — you access the retailer through Ebates and automatically get cash back. Depending on the store and the available promotions, you can get anywhere from 2.5% to 12%. All you have to do is create an account and check Ebates anytime you want to make an online purchase.
2. Market Research: A great way to make a little extra cash is to volunteer to be part of market research panels. Companies always want feedback from consumers about their products and advertising, and they pay to get it. The one I ended up working with most often was Focus Pointe Global, but there are dozens of market research companies out there. If you fit the consumer profile they’re need for a study, you can make anywhere from $75 to $300 for a few hours of your time.
3. Barter: Do you manage social media? Write web copy? Design websites? Offer to barter your skills for things you would buy anyway, like a haircut at a salon or an oil change at the local auto body shop. You’ll get the services you need without paying, work that you can add to your portfolio, and — you never know! — a potential new client in return.
4. Consign: Have old clothes, shoes, or home goods lying around? Instead of tossing them, think about visiting a consignment store. Check first to see if there are any in your area; if not, check online for places like ThredUp. Or, there is always eBay!
5. Fiverr: Okay, I know I have said that the work you do should be worth more than $5. And I stand by that, 100%. But a site like Fiverr can be a good way to make a little extra cash or try out a new skill. It’s by no means a platform to run a whole business from. But, if you can come up with a service that takes you 10ish minutes to do (such as proofreading a bio, or offering feedback on a web page design) your hourly rate won’t be terrible and you can make enough extra cash for a dinner out or a new pair of shoes. Just be selective about what services you offer: you don’t want to do more than 15 minutes of work for any Fiverr gig!
Do you have any other tips for how to make a little extra cash?
Share them in the comments!
Psst — Need a little more advice for starting out? Check out these posts:
How to Find Staff Writing Jobs Online
Cheap, Fast, or Good: The Freelance Triangle
7 (Legit) Places to Find Freelance Work
I really like doing market research! I’ve only been able to participate in one so far, because another one I signed up for filled up really quickly, but I like doing them! Plus, they do pay pretty well 🙂
They’re a pretty great way to make a little extra cash. I’ve heard of people doing studies as a full-time job, and I can’t imagine how that works. But for a extra padding at the end of the month, they fit the bill!