8 Ways To Make Money On The Side (2019)

hey everybody welcome back to whiteboards finance so today we're gonna step away from the whiteboard because I want to show you eight ways to make money on the side in 2019 and the easiest way to do that is to actually share my computer screen so the reason I chose to make a video about making money on the side is because there are so many comments that I get on my personal finance videos where people are saying oh these videos are for people that make $200,000 a year I make minimum wage blah blah blah this and that although I can sympathize with people that make minimum wage because I used to be a busboy I used to work at a pizza shop I did all that stuff trust me I can definitely sympathize but I'm also someone who's made more money as their career has evolved as well so I can realize both ends of the spectrum the reason why I want to make this video is because the people that are saying oh your videos are only for people that make $200,000 a year well you're completely wrong because in 2019 it's never been easier to make money on the side and that's exactly what I'm gonna show you in this video so if some of these methods you probably already know about some of them you don't have access to such as real estate some you absolutely have access to and you'll see what the dollars per hour break down because as always I share everything in a spreadsheet so let's move on to the very first one so what we have here is Airbnb so unless you've been living under a rock Airbnb is simply where people allow other people to sleep or stay at their home their room or even a shared room within their private residence so for example if you're not familiar with how this works I'm going to show you the different options here so you essentially pick whatever location you want to stay at you can click on home type so you can have the entire place to yourself so if you own your own place this is a great way for you to rent it out while you're not there so if you go on a holiday or on a vacation you can essentially pay for your holiday or vacation by having someone else stay in your place while you're actually out vacationing or out of town you can do a private room so in case you're someone who doesn't have a separate living facility or living home you can actually run out private rooms within your own home and have people stay with you it's almost like a version of house hacking where you simply run out two roommates or run out another side of your house to someone else there's also the shared room space where you can have many people within one living environment so that's the first one the reason Airbnb is so powerful is because even if you're renting and this may get outlawed here soon but just a quick tip for my viewers even if you're renting your own apartment say your rent is a thousand dollars a month if you know that you can make a spread on that rent by renting out private rooms or even running out the apartment while you're not there yeah you can definitely get in trouble for doing that and I'm not recommending that but there are people that do Airbnb arbitrage okay so if you know your rent as a thousand bucks a month but you're making 2,000 on Airbnb you're making that spread of a thousand dollars a month and getting paid to live where you live so the second one we're gonna talk about is essentially an Airbnb for cars and this service is called Turo so if you've never heard of Turo before this is essentially the same thing so you basically enter where you're gonna be when you need the car from and until and these are basically people who rent out their own vehicles so if you have a vehicle in an area that's highly desirable like a tourist area and you know you don't need the vehicle for like a weekend or a week or whatever you can rent out your own vehicle for a daily rate so you can see here the Chevy Camaro is getting 49 bucks a day this Ford Mustang is getting you 55 my friend actually visited California and he rented a Porsche 911 convertible I forgot what the daily rate was but he said that it enhanced his trip immensely because he basically was driving down highway 1 I believe he went from San Diego to San Francisco and ended up back to San Diego so this is a great way for someone who actually has an extra vehicle or someone who doesn't use their vehicle all the time so if you want to sign up for any of these sites or that I mentioned in this video there's gonna be links in the description below it's just another way to support this channel but this is a great way to earn some extra income for an asset that is typically depreciating and typically taking money out of your pocket so staying within the car theme let's talk about Amazon flex so this one may not be familiar to you Amazon flex are the people that deliver your Amazon packages that don't look like a UPS or whoever Amazon uses as their primary logistics company so Amazon flex think of them as independent contractors that have a very flexible schedule so the reason I like this and the reason I'm recommending it is because the amount that Amazon pays you is a decent amount but obviously you have to pay taxes that are quarterly if you're an independent contractor and you need to set aside money obviously for depreciation and maintenance on the vehicle however the scheduling is really cool because the hours are very flexible as you can see here so if you're someone that already works a nine-to-five and you don't feel like driving for uber or lyft all you have to do is deliver packages and you can essentially be your home boss so you you I recommend you doing the math based on you know depreciation of the vehicle maintenance cost taxes all that stuff but that is another great opportunity to earn some money on the side so moving forward let's move on to usertesting.com so usertesting.com is essentially picture of companies that need user testing done and they don't have the resources to be able to do that internally so what they do is they'll actually pay for you to take these tests these are really easy tests you're just basically giving your opinion for these surveys and you're actually getting compensated instantly through PayPal once the survey is done so just so you guys know that I'm not biessing and actually practice what I preach I actually did this for a little bit in 2017 just to see what it was like and I took about six or seven surveys here so you can see in the first one I made $3 but on the other ones I was making about $10 a piece and these only took about half an hour so I was essentially making $20 an hour on the side and again the nice thing is is that this goes straight to your PayPal account and you can just transfer it right to your bank so pretty cool stuff there so if you're someone that likes testing out products and letting your opinion be heard I we recommend user testing so the next one that is very overlooked and this is an actual spreadsheet that I kept track of from 2016 essentially from August to December and just so you guys know that I'm not biessing I was a valet driver so I worked for a valet company I was either between jobs or I was just doing this for money on the side actually don't remember but ultimately let's see if the screen is recording here ok I'm not sure why this is freezing there we go so ultimately I was a valet driver for a few months just to earn some extra money on the side and basically you can see here that the earnings were pretty incredible and keep in mind you guys that this is one of those industries where everything is under the table you're getting paid straight cash tips are cash and also what my boss paid me was cash so there were some people that I worked with that took advantage of this and never paid taxes on this money I'm not advocating that you do that I'm just telling you that it was very lucrative while I did it so the reason I'm trying to get this to load and obviously you know it's not working is that you guys can see here that I actually created this spreadsheet in August of 16 it's just not letting me scroll down there we go so I made this in August of 16 ok so you guys know that I'm not just making this up just to make a YouTube video let's get into the numbers of valet driving you can see here that since I'm a spreadsheet nerd I kept the date here the venue the start time and the end time the total hours worked sometimes these weren't set schedules sometimes you get cut earlier or later the amount of tips I earned the hourly rate I earned while working and then also the total shift dollars per hour so this was an basically combining the hours worked plus the tips earned divided by the hours worked so essentially if you look at this the way it breaks down to was right around 1963 an hour if you guys can see that oh sorry it's cut off from the video but basically this column that's highlighted it's 19 dollars and 63 cents per hour and this was all under the table so if I chose not to pay taxes wink wink you're basically making 20 bucks an hour getting paid to drive valet so do not overlook that I drove a lot of cool cars I met a lot of cool people I met a lot of Cavs players a lot of Browns players the coach from the Cavs tyronn lue chip the Ripper was a rapper that I met I met a lot of other things that a lot of other professions I'm not going to talk about I met all those while valet driving so that actually brings me to my next point is bartending okay so whether you're a server or you're a bartender that's another job that gets paid under the table so a lot of bartenders that I worked with wink-wink nudge-nudge they never paid taxes on that money or they claimed significantly less than they actually earned I'm not advocating that you do that but once it worked out I was actually making about $25 an hour straight cash - the taxes that I paid on that money so ultimately bartending not only are you going out so when all your friends are going out and they're partying you feel like you're missing out because you have to work bartending you are out but you're making money instead of spending money so not only are you meeting like really good-looking girls sometimes really good-looking guys depending on how you you know which way you swing bartending was social it was awesome I love doing it and it's a really tight-knit community so bartenders used to go out with each other after their shift and you just build a lot of real nice camaraderie there not only that it's a high paced job you have to remember eyes everyone's orders you have to be quick you have to be efficient and you have to be nice so it teaches you social skills customer service and sales skills as well so don't overlook bartending or serving so the next one is actually a gentleman and this is if this guy can do it anyone can I heard of this gentleman on-site hustle nation podcast he basically cleans parking lots yes believe it or not for 30 years this guy's been earning a six-figure income cleaning parking lots so I listen to his podcast on site hustle nation and if you want to buy his book I actually have a link down below in the description this guy talked about how he essentially on his commute to work before work and after work he would literally clean parking lots for retail businesses and make six figures doing it so for all the people out there saying oh I make minimum wage and there's no way I can make extra money blah blah blah if if you can pick up trash you can make money so I'm not some like get-rich-quick guru it just takes some hard work and some gumption and then finally last but not least start a YouTube channel it's a no-brainer in my opinion so you can see here this is my own channel I'm not gonna go into my back-end just because YouTube may have some terms against that but you can see here as you can see a number of daily subscribers video views and estimated earnings what I will say is since I am a financial Channel my estimated earnings are definitely more than this higher end just because my viewers are worth more and I'm providing more value than just a prank channel for example so my views are a lot more valuable to these advertisers so starting a YouTube channel you're gonna eat a bunch of crap for a very long time and it's a very slow grind however once your channel pops off then you'll start making some serious money if you're an expert in something if you can provide value in something whether you think it's valuable or not you can absolutely turn your skillset or expertise into a channel whether you're doing left handed puppetry or you're doing gardening or whatever you can turn that into a channel if you bring value you don't come off as sleazy or salesy and people genuinely like and trust you the views will follow I've been doing white board finance for over a year and a half now and I went from periods where I wasn't making any money nor did I care because I was providing tremendous value to my audience so ultimately you guys this is just a quick recap of eight different ways you can make money on the side and 2019 so I don't want to see any more excuses in my comment section of all these financial tips are only if you make $200,000 that's bullcrap dude there's so many immigrants that come to this country with zero dollars and zero English and there's some of the most experienced and the most wealthy people that I know so at the end of the day you guys it's all about the value that you put in whether it's ours whether it's trading your time for dollars whether it's valeting cars and just being nice to people and earning a tip that's how you get ahead in life thank you so much for watching if this video was valuable to you please share it with one friend and as always have a prosperous day [Music]

Channel: Marko - WhiteBoard Finance

Views: 129,319

Rating: 4.907856 out of 5

Keywords: side hustle ideas, side hustles for extra money, how to make money on the side, how to make money on the side with a full time job, side hustles 2019, side hustles for college students, make extra money 2019, make money online 2019, side hustle

Id: 7PJSeJWu0cY

Length: 13min 49sec (829 seconds)

Published: Wed May 29 2019