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Monday Money Saver #6: Five Easy Ways to Increase Income

The best way to have more money in the future, is to find ways to increase your income. $5 here or there may seem small, but it adds up over time. Here are a few ways you can earn extra income - either to save, or to use as your spending money, depending how you want to plan your finances.

1. Interest
Switch from a regular savings account to a high interest savings account. I switched around this time last year, and went from earning $0.25/year in interest, to what will be nearly $30 by the year's end. Wednesday's post will cover several good websites for getting a higher yield on your money. Many of these sites are FDIC insured, which means you will not have to worry about losing your money. You may potentially make more interest in a Money Market account, but it will also be riskier, since it is not insured by the government.

2. Surveys
When I was younger, my mom was constantly visiting the little survey place in the mall. I was bored out of my mind waiting for her as a kid, but now that I'm in a good 'target demographic', I can totally see why she did it. Earning anywhere from $5 to $20 for a little bit of your time, you've paid for your lattes for the week, and can divert what you would normally spend into savings or investments. You can also participate in online surveys that pay, although these are harder to come by.

3. Blogging
I started this blog because I wanted to get my money-saving ideas written down, so I can hold myself accountable to what I know are smart ideas. It's too easy to get lazy when you aren't thinking about frugality all the time. But since I was starting a blog anyway, it was incredibly easy to add in a Google Adsense bar. I may not earn much (people who blog for a living can make much more, because they have the time to put in to it). But $5 here or there really adds up over time.

4. Craigslist or Ebay
That's right. Last week's website was Craigslist, and the post focused on how to save money on buying things for your home. But you can use it to make money too! Every once in a while, go around your home and collect things that you don't need or don't use. Then take a few minutes and post it on Craiglist or Ebay, and wait for someone to want to buy your things! Not only did you make a few bucks, but you also cleared a little clutter.

5. Part-time Job
Ok. Admittedly, this one is a little more difficult. Some people don't have the time or the energy. But there are tons of jobs that are flexible and do not require steady committment. Find what you love to do, and see if you can fit it into your schedule. If you love kids but don't have your own, babysit for a friend's children or put an ad on Craigslist. If you like interacting with people, pick up a couple evening or weekend shifts at a restaurant. If you are a night owl like my fiance, take a Friday or Saturday night and drive a taxi. You can easily make $100 for one night of working at a restaurant or babysitting, or $200 for a 12 hour cab shift.

The only thing holding you back from making money is you! Adapt any of these ideas to fit your own life, and then you'll have a lot more money at the end of a year than you would have expected!

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