How to Make Extra Money to Boost Your Savings Account
Published: September 14, 2018
Looking to save some extra money? Maybe you’re saving up for that well deserved vacation, or maybe you just want to grow your nest egg. Either way, there are plenty of ways to boost your income without necessarily picking up a second job!
Become an Airbnb Host
Do you have a guest room available in your home? If so, you might consider listing your room on a site like Airbnb, which allows you to rent out spare space on a nightly (or longer) basis. Being an Airbnb host can be a rewarding experience, and you might be surprised at how much you can make by renting out that spare room—especially if you live near a big city.
Turn a Hobby Into a Side Hustle
Take some time to brainstorm ways to make extra income off of something you already enjoy doing. For example, if you love taking pictures, consider enrolling in a photography class at your local community college. You won’t spend much, and you’ll learn the basics you need to achieve professional-looking shots. From there, you can make extra cash taking lifestyle portraits in your spare time. Why not make money off something you love to do already?
Become a Ghostwriter
If you know how to write well, you can make money online as a ghostwriter. Small businesses are always looking for blog posts, how-to articles, and similar content. On that same note, you can make money editing resumes and other content online without even having to leave your home!
Optimize Your Interest Yields
If you haven’t done so already, now is a great time to revisit your savings account and make sure you’re getting the best interest rate possible. Even an increase in half a percentage on your interest rate can add up significantly over time. At Santa Clara County Federal Credit Union, we offer high-yield savings accounts that allow you to optimize every last penny, and all you need is an initial deposit of $25 to open an account with us. Not only do we offer great interest rates, but our dividend rates are compounded and credited quarterly for an added boost!