8 Simple Ways To Put More Money in Your Pocket
Read on for eight simple ways to put more money in your pocket.
1. Earn Credit Card Rewards
Credit cards can be more than just a means of spending; they can also be a source of earning. Many credit cards offer rewards or cash-back on purchases. By using a rewards credit card for regular expenses and paying off the balance each month, you can earn money back on what you would spend anyway.
Note: It’s essential to avoid spending more just to earn rewards and always pay your balance in full to avoid interest charges that can cost far more than any rewards you earn.
2. Maximize Your 401k
If your employer offers a 401k plan with a matching contribution, you should take advantage of it. That employer match is essentially free money and an investment for your future. Contributions can significantly boost your retirement savings and reduce your taxable income.
If you can’t initially contribute enough to get your employer’s full match, consider gradually increasing your contribution each year until you are receiving the full match.
Sign Up for Savings
Subscribe to get money-saving content by email that can help you stretch your dollars further.
Twice each week, you'll receive articles and tips that can help you free up and keep more of your hard-earned money, even on the tightest of budgets.
We respect your privacy. Unsubscribe at any time.
3. Get a Banking Bonus for Opening a New Account
Many banks offer sign-up bonuses for opening a new account. Depending on the bank’s promotion, these bonuses can range from a few dollars to several hundred. It is sometimes worth shopping around and switching banks to take advantage of these offers.
4. Participate in Survey Sites
Online survey sites can be a source of small but easy income. By spending a bit of time answering survey questions, you can earn cash or gift cards. It’s not a replacement for a full-time job, but it can be a simple way to earn something in your spare time.
Some popular survey sites include Swagbucks, Survey Junkie and InboxDollars.
5. Start a Side Gig
If you have a skill or hobby you can monetize, consider starting a side gig. This could be anything from freelance writing, tutoring, or selling handmade goods. A side gig can bring in extra income and be a fulfilling way to spend your free time.
If you’re if you’re in need of some side gig ideas, consider these side gigs that other Dollar Stretcher readers started. And these questions can help you choose the right side gig for your schedule and budget.
6. Open a High-Yield Savings Account
Consider a high-yield savings account instead of letting your savings sit in a regular savings account, earning minimal interest. These accounts offer higher interest rates, which means your money grows faster. It’s a simple and safe way to get a little extra from your savings.
You can find some of the best high-yield rates through online banks.
7. Regularly Sell Unused Stuff
We all have things lying around that we don’t use. Regularly selling unused items on platforms like eBay, Craigslist, or Facebook Marketplace can turn your clutter into cash. It’s a great way to keep your home clutter-free while earning some money.
8. Refer Friends
Many companies offer referral bonuses for bringing them new customers or clients, such as subscription services, apps, or even job referrals.
If you like a service or product, check if they have a referral program. It’s an easy way to earn extra cash by sharing something you already use and love.
How Will You Put More Money in Your Pocket?
Implementing these strategies can incrementally improve your financial situation. The key is to start small and stay consistent. Over time, these methods can make a significant difference in your bank account balance.
Reviewed February 2024
About the Author
Andrea Norris-McKnight took over as the editor of The Dollar Stretcher and After 50 Finances after working under the site founder and previous editor for almost 15 years. She has also written for Money.com, GOBankingRates.com, HavenLife.com and The Sacramento Bee.
Sign Up for Savings
Subscribe to get money-saving content by email that can help you stretch your dollars further.
Twice each week, you'll receive articles and tips that can help you free up and keep more of your hard-earned money, even on the tightest of budgets.
We respect your privacy. Unsubscribe at any time.
Popular Articles
- 7 Habits of Highly Frugal People
- 5 Simple Budget Cuts That Can Save $200 a Month
- How to Track Down Unclaimed Funds Owed You
- 32 Ways to Save Money on Your Utility Bills
- Do You Need Credit Life Insurance When Buying a New Car?
- How to Maximize Profits When Selling Online
- Staying Motivated to Continue Digging Yourself Out of Debt
On After50Finances.com
- 9 Things You Need to Do Before You Retire
- You Didn’t Save Enough for Retirement and You’re 55+
- When Empty Nesters Reorganize and Declutter Their Home
- Reinventing Your Career in Your 50s or 60s
- What Mature Homeowners Should Know about Reverse Mortgages
- 2 Reasons to Collect Social Security Benefits As Soon As Possible