How Can I Make More Money To Travel?
Who doesn’t need more money? This era is all about side hustles and having multiple streams of income. Below are some of the best tried and true side hustles that allow you to generate income to travel more.
Drive for ride share companies
In the past 10 years, ride sharing has completely disrupted the transportation industry! The most popular ride share companies in the U.S, Lyft and Uber require insured drivers age 21+ to go through a background check, and have a 4-door car no older than 10 model years. You can check the specifics of each company on their websites since the specifications vary by city and state. There are also local ride sharing companies in larger metro areas giving you additional options to drive for. The biggest attraction for working with ride share companies is the chance to “be your own boss” — you have flexibility over your hours worked and you meet dozens of new people a week. There is no cap on the amount of money earned, so you can give yourself a limit of making $200 per week, or $1,000 per week, it’s truly up to you! Some of the stated drawbacks are that you’re a contracted employee, so you’re responsible for paying your own taxes, no offerings of healthcare or insurance, and you’re responsible for the cost of car maintenance.
Food Delivery
Compared to transporting people, the restrictions for delivering food for various platforms is a bit less stringent. For some platforms in certain markets, such as UberEats and DoorDash, you don’t even need a car. Some platforms will allow you to deliver food on a scooter, bike, motorcycle, and even on foot! The same pros and cons apply here, but be sure to check out each companies website for rules and regulations for your specific city.
Rent A Spare Room on AirBnB
If you live in a big city, or a charming small town that has a growing tourism industry, it may be time to clean out that extra guest bedroom or update your basement to entice guests to book with you on AirBnB. More and more travelers are leaving traditional hotels behind and opting to book their accommodations with competitive options for cheaper costs and more amenities. AirBnB hosts set their own base prices, and have flexibility to charge for fees such as cleaning and early check in or late check out.
Find Your Creative Niche
Hone in on your creative skills and sell your services. Photography, beauty (hair, skin, nails), music, fashion, home design, art or pretty much any creative outlet makes you unique and different from the next person, so monetize those skills if you’re good at it. There are a ton of platforms for creatives to sell their goods and services like Styleseat for beauty professionals and Etsy for vintage sellers and handmade crafters .
Not only does AirBnB offer bookings for accommodations, they have expanded in the hospitality industry and allow locals to offer AirBnB Experiences. Locals can give tourists adventures of their city through experiences such as neighborhood walking tours, cooking classes, language lessons, and even photo shoots with landmarks and street art.
Sell Your Clothes
Each season, I clean out my wardrobe, creating space for new clothes . Gifts that I’ve accumulated, or outdated clothing and home goods gets donated to the Goodwill, clothing that is no longer wearable gets sent to H&M in exchange for their 15% off coupon, clothing that is still in fashion will be sold to local consignment shops and luxury or designer pieces are sold on various online consignment shops like Poshmark, Tradesy, and Vestaire Collective. Resellers like Buffalo Exchange and Plato’s Closet buy and sell gently worn clothes from fast fashion brands, designers, and some luxury pieces. When buying your merchandise, the store will tell you how much they’ll buy your items for, paying you in cash 30% of their selling price, or 50% in store credit. For most online consignment you generate your own sell price, and the site takes a cut anywhere from 10 - 30%.
Keep Shopping
While it may seem counter productive to spend money while you’re trying to save and budget your money, Rakuten gives you money back to do what you already do. Rakuten is an affiliate marketing program where retailers pay Rakuten a commission to send shoppers to their website, and Rakuten passes those savings back to you. Rakuten on average pays 1 - 15% cash back on retailers you already shop from, and they frequently offer double cash back days. You can receive money back to your PayPal account, or through a paper check. Once you join Rakuten and make a purchase of $25 or more using my link, you’ll earn a bonus $10.
Dog Walking and Pet Sitting
I’ve always had a strong affinity for dogs, but I’ve never had one of my own. After several months of volunteering at my local animal shelter, I took it up a notch and created a profile on Rover — an online marketplace for pet parents to book pet services such as dog walking, boarding and sitting. You’re able to set your own prices and your availability. In my first month of dog walking, I made a couple hundred dollars, doing something I loved. If you’re a pet parent, use code SHAREB82735 for $20 off your first booking with Rover.com. If you’re a pet parent in the Chicago area, feel free to book me here to take care of your fur baby!
Task Rabbit
If you’re good with your hands, or enjoyed doing chores as a child, working through TaskRabbit is a great way for you to earn money. Taskers, as the service providers are called, offer an array of services ranging from moving, furniture assembly, minor home improvements, grocery shopping, personal assistants, and so much more. Taskers set their own price for each service, availability per week, and the geo where they’re willing to work.
Start a Travel Fund
Open an interest bearing checking account or savings account. If this account is separate from your primary checking account, you won’t be tempted to spend what you don’t see. Depositing at least $25 a week will leave you with $1,300 at the end of the year, enough to take a nice cruise or one week at an all-inclusive Mexican resort. If you receive any bonuses, dividends, or large tips, deposit a percentage to the account. At the end of the month, after you’ve paid all of your bills, expenses and savings, deposit a portion of your remaining money to your travel fund.
There are a few apps such as Mint, Acorns, and Dobot that automatically withdraw small amounts of money from your account throughout the month to help you save towards your goals. If you sign up with Dobot to start your travel fund, use my code qxub0 to get $5 for free once you set up your account and start saving.
Invest in Stocks
Investing in the stock market with the right stocks is a great way to grow your money over time. The stock market is volatile, and while it won’t provide you a quick and easy pay day, you do receive an income from dividends and build long term equity. You can begin easily using the Robinhood app. Robinhood provides one free stock for every person you refer to the app and they also begin investing. Use this link to start your investing journey, starting off in the travel industry with companies in air travel, hospitality/lodging, cruises and transportation.
Part Time Job
Holding down a part time job in addition to another job, is by far one of the oldest side gigs. Retail jobs in department stores, grocery stores, food & beverage, and even through staffing agencies allow you to work various shifts throughout the day, often with seasonal highs and lows. Depending on the business, you may be able to set your own schedule. While you do give up some freedom by working in a structured environment with hourly shifts, you are gaining a pretty stable income. Part time jobs are great for those who can commit to working nights and/or weekends, or having set off days outside of their full-time work.
Cut Down on Expenses
If you don’t have the time or desire to take on extra work, take a look at your current budget and find ways to reduce your expenses. You are all aware of these money habits, but I’m reminding you again, because I want you to do better!
Eat out less, and cut down on the daily $5 coffees or happy hour beers and cocktails.
Reduce the number of Ubers and taxis you take, or wait for surging to end. Opt more for public transit, walking, and carpooling.
Call your utility and telecomm companies to see if you’re eligible for any plan reductions. I HATE paying my cellphone bill every month! My phone is drier than the Sahara, and I don’t think I should have to pay for that disappointment. Just last month, I called them asking if I was eligible for any reduced rates and luckily, there was an updated version of my current plan that the representative enrolled me on, so I was able to save $15/month, which is something.
Eliminate some digital subscriptions you pay for. Amazon Prime, Netflix, and Spotify to name a few, offer family plans, so ask friends or family members if you can join their subscriptions or split the costs.
Unsubscribe from email subscriptions from retailers that entice you to shop every sale.
It’s a new year, so it’s time to give up that bad habit that you spend your discretionary money on. I’m talking to you smokers, binge drinkers, and impulse shoppers.
Stop paying the minimum on your credit cards each month! Sure, if you’re strapped for cash paying the minimum is tempting, but in the long run, you’re giving away so much money just in interest and any late fees. You can also call your bank to get a lower payment amount if the given minimum is not in your budget, or you can ask them to adjust your payment due date to fall in line with your pay days.
