In this article, we will look at the 25 easy ways to make money fast. We have also discussed the demographical difference between approaches to making money. If you want to skip our detailed analysis, head straight to the 10 Easy Ways to Make Money Fast.
In 2024, the increase in people wanting quick money may stem from various factors. Economic uncertainties, exacerbated by global events or crises, could drive individuals to seek rapid financial solutions. Technological advancements may also play a role, with the proliferation of online platforms offering promises of easy wealth through schemes like cryptocurrency trading or affiliate marketing. Additionally, societal pressures or a desire for instant gratification in an increasingly fast-paced world might fuel the search for quick monetary gains.
It is, therefore, interesting to note that the pursuit of passive income is a common thread among investors of all ages, but there’s a clear generational divide in both perception and approach. Younger generations, particularly Gen Z and Millennials, often misunderstand the true nature of passive income. Instead of seeking traditional avenues like dividends from stocks or interest from bonds, they gravitate towards crypto investments and side hustles, driven by the allure of quick returns and the flexibility it offers.
For instance, in a recent survey of 1,000 US investors with at least $10K in assets, respondents across age demographics ranked passive income as a top 2023 priority. However, while 80% of Millennials and 81% of Gen Z expressed interest in investing in Bitcoin, only 15% of Boomers considered it for passive income purposes.
The allure of passive income, however, often masks the reality of the effort required. While platforms and influencers may promote “passive income ideas with no money” on social media, these hustles often demand substantial ongoing effort, blurring the line between passive income and active side hustles. Boomers, on the other hand, tend to pursue more traditional forms of passive income, such as dividend stocks and real estate, recognizing the importance of stable, long-term investments in supplementing retirement income.
Nevertheless, in 2022, Zapier’s survey revealed a major rise in the popularity of side hustles among Americans. The data indicated that 40% of Americans were engaged in side hustles, showcasing a noticeable increase from 34% in December 2020. Moreover, the survey highlighted a promising trend for continued growth, with over one-third of Americans expressing intentions to start a side hustle in 2022, compared to under one-fourth for 2021.
Notably, men and younger adults appeared to be leading this charge. Men were more likely than women to currently have a side hustle (44% vs. 37%) and were also more inclined to start or plan one for 2022 (39% vs. 33%). Similarly, Gen Z and Millennials showed higher engagement in side hustles compared to Gen X and Boomers, with 59% and 61% respectively having a side hustle.
Despite the perception of side hustles as time-consuming endeavors, the data revealed otherwise. Nearly half of side hustlers spent less than 10 hours a week on their additional pursuits, with the average annual income from side hustles amounting to $12,689. Automation emerged as a significant facilitator, with almost two-thirds of side hustlers incorporating automation in their businesses, attributing much of their success to time-saving technologies. Men and younger adults were notably more likely to utilize automation in their side hustles, indicating a strategic advantage in managing time and resources efficiently.
Photo by Karolina Grabowska: https://www.pexels.com/photo/hands-holding-us-dollar-bills-4968630/
Our Methodology
To list the easy ways to make money fast, we identified money-making strategies that had low barriers to entry, quick turnaround time, and scalability potential. Since the level of easiness can be subjective and can depend on several factors, the list is presented in no particular order.
By the way, Insider Monkey is an investing website that uses a consensus approach to identify the best stock picks of more than 900 hedge funds investing in US stocks. The website tracks the movement of corporate insiders and hedge funds. Our top 10 consensus stock picks of hedge funds outperformed the S&P 500 stock index by more than 140 percentage points over the last 10 years (see the details here). So, if you are looking for the best stock picks to buy, you can benefit from the wisdom of hedge funds and corporate insiders.
Here is a list of the easy ways to make money fast:
25. Participate in Online Surveys
Participating in online surveys allows individuals to earn money by providing valuable consumer insights to market research companies. These companies pay users for their opinions and feedback on various products and services. Two reputable platforms in the US for earning money through online surveys are Swagbucks and Survey Junkie. It is one of the easiest ways to make money fast from home.
24. Sign Up for TaskRabbit
TaskRabbit allows individuals to earn money by completing various tasks for people in their local area. Users can sign up as “Taskers” and offer services such as handyman work, cleaning, moving assistance, or even virtual tasks like graphic design or writing. It is one of the best ways to make money in one hour.
23. Sell Unused Gift Cards
You can make money by selling unused gift cards through online platforms such as Raise or Cardpool. Simply create an account, list your gift cards for sale, and set your desired price. Once a buyer purchases your gift card, you’ll receive payment either through direct deposit, PayPal, or check. It is one of the real ways to make money from home for free.
22. Flying Gigs
Flying gigs refer to opportunities for earning money by performing tasks or providing services related to flying. This could include piloting aircraft for aerial photography, conducting sightseeing tours, offering flight instruction, or providing charter services. Individuals with appropriate qualifications and certifications can leverage their flying skills to offer these services commercially, generating income through freelance or contracted work in the aviation industry.
21. Make Money With Investment Apps
You can make money with investment apps by investing in stocks, ETFs, or other assets and potentially earning returns over time. Two popular investment apps are Robinhood Markets Inc (NASDAQ:HOOD) and Acorns. Robinhood allows commission-free trading of stocks, options, and cryptocurrencies, while Acorns enables users to invest spare change automatically by rounding up everyday purchases and investing the difference.
20. Website Flipping
Website flipping involves buying, improving, and selling websites for profit. To make money quickly, focus on niche sites with high potential, optimize them for SEO and user experience, and then list them on platforms like Flippa or directly approach potential buyers. It is one of the best ways to make money fast online.
19. Publish a Kindle eBook
One can utilize their research and writing skills to publish a Kindle eBook on Amazon. With Kindle’s global reach, one can tap into a vast market.
18. Open a Bank Account that Has a Cash Bonus
To quickly earn money with a bank account offering a cash bonus, follow these steps: Research banks offering sign-up bonuses, ensuring they meet your needs. Open an account meeting the bank’s requirements. Fulfill any necessary deposit or transaction criteria to qualify for the bonus.
17. Pet Sitting
Pet sitting offers flexible hours, allowing you to work around existing commitments. It requires minimal startup costs and can be done from home. With the increasing demand for pet care services, it provides a steady stream of income. It is also one of the Best Side Hustles for Women Over 50.
16. Babysitting
Considering babysitting for extra income is a smart decision owing to the escalating costs of child care, exacerbated by the potential loss of federal funding. The imminent funding cutoff threatens the closure of thousands of child care programs, exacerbating an already strained system. Babysitting offers a viable solution for families facing unaffordable care options.
15. Drive for Uber or Lyft
Uber Technologies Inc (NYSE:UBER) and Lyft Inc (NASDAQ:LYFT)drivers’ earnings fluctuate based on various factors like tips, car expenses, and working hours. Recent estimates suggest hourly earnings range from $9 to $28, with variations due to location and driving habits. Both companies have disclosed figures, with Uber Technologies Inc (NYSE:UBER) indicating around $33 per hour before expenses and Lyft Inc (NASDAQ:LYFT) around $31 per hour after expenses. However, drivers emphasize the importance of tracking expenses and tips to accurately assess their earnings. It is also one of the side hustles that can help earn extra $500 a week.
14. Rent Out a Room
Airbnb Inc (NASDAQ:ABNB) offers income potential, with hosts averaging $924 monthly. However, success requires strategy; it’s more than just a clever listing. Start-up costs and effort are involved. Hence, avoid overspending on renovations and setting realistic expectations is key. With proper management, Airbnb Inc (NASDAQ:ABNB) can be a lucrative venture, but it requires a smart business approach.
To read more about Airbnb Inc (NASDAQ:ABNB), see 20 Best Ways to Generate Passive Income for Beginners.
13. Sell Crafts
Handcrafting unique items and selling them on Etsy Inc (NASDAQ:ETSY) or at local markets offers a lucrative income stream. By leveraging creativity and craftsmanship, artisans can attract customers seeking one-of-a-kind goods. Establishing a strong online presence on Etsy Inc (NASDAQ:ETSY), maintaining quality, and engaging with customers are key to building such sustainable business. It is one of the ways to make money online for beginners.
Speaking of Etsy Inc (NASDAQ:ETSY), it is worth mentioning that it offers easy-to-use tools for listing products and reaching potential buyers, streamlining the selling process and potentially generating rapid sales and profits.
12. Rent Out Your Car
Renting out your car is a quick way to earn money because it utilizes an existing asset. With platforms like Turo or Getaround, you can monetize your idle vehicle, offsetting ownership costs like insurance and maintenance. It requires minimal effort and can generate income consistently, providing a reliable source of cash flow.
11. Deliver Food
Delivering food is a lucrative option for quick earnings due to its flexibility and high demand. Services like Uber Technologies Inc (NYSE:UBER) Eats or DoorDash Inc (NASDAQ:DASH) offer instant payment, allowing you to earn money on your schedule. With low barriers to entry and no specialized skills required, it’s a straightforward way to generate income rapidly. It is also one of the ways to make money fast for students.
Click here to see the 10 Easy Ways to Make Money Fast.
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Disclosure: None. 25 Easy Ways to Make Money Fast is originally published on Insider Monkey.