There are several ways to earn money in under an hour, and some involve working a casual side gig. Other approaches tend to fly under the radar and are more about finding out where you are overspending — such as looking over your recurring billing statements.
Either way, if you’re ready to make some money in an hour or less, get started with the help of these tips.
Review Your Recurring Bills
One of the easiest ways you can make money is stacked in a pile of letters from the mail or emails sitting in your inbox. If you only have an hour to spare, Lauren Keys, personal finance expert at Trip Of A Lifestyle, recommends reviewing your recurring bills.
Reviewing these bills gives bill payers the ability to find areas to cut back or negotiate with your service provider. Keys uses the example of when the introductory rate fell off her internet plan. Suddenly, the monthly bill nearly doubled in price.
“It took 15 minutes to chat with a live agent and get my rate back down to $30 a month for the same service — a savings of $20 a month,” said Keys.
While many companies, including internet service providers, don’t always advertise their cheapest plan, Keys said you can call and ask about it. Often, you may be able to negotiate your monthly cost down significantly this way.
“Car insurance is another bill that’s worth getting new quotes on every time your plan is about to renew, which is typically every six months,” said Keys. “I’ve switched providers a couple times to save a few hundred bucks, and again the time it takes to get quotes online is less than an hour!”
Take Our Poll: Do You Have a Side Gig or Other Hustle?
Become a Reseller
Many individuals are turning to secondhand marketplaces and selling gently used or never worn apparel, jewelry or handbags to make extra money.
Amber McCasland is the VP of global brand and communications at Poshmark, a social commerce marketplace where you can buy and sell fashion, home decor and beauty items. Those interested in becoming resellers on Poshmark can upload photos of the item they want to sell or take photos of it within the Poshmark app, give the listing a title, description and price and post it. With a few swipes, resellers can easily make money using just their phones and the items in their closet.
How much can a reseller expect to make in an hour? The answer depends on the price of the item(s) sold. For all sales under $15, McCasland said Poshmark takes a flat commission of $2.95. Sales of $15 or more, however, allow sellers to keep 80% of the sale with 20% for Poshmark’s commission.
While listings that reflect popular and emerging fashion trends tend to sell more quickly on the platform, McCasland said there is a market for everyone on Poshmark. Shoppers can use Poshmark’s “Shop by Trend” feature that helps them find popular items by using real-time trend data to curate daily picks based on what the shopper has liked and what’s trending. This feature improves discoverability, connects shoppers with relevant items and sellers and helps sellers make sales.
Rent Out Your Recreational Equipment
Do you own popular summer equipment, like a spare boat or pool, you’re not currently using? Consider listing these items on rental marketplaces and earn passive income.
Individuals with boats and watersports equipment like kayaks, paddleboards and canoes can list these items out on GetMyBoat, the world’s largest boat rental marketplace. Val Streif, marketing manager at GetMyBoat, said the average owner on GetMyBoat earns over $15,000 annually.
Swimply, dubbed the Airbnb of pools, is a gig app that allows people to list their backyard pools for hourly rentals. Pool owners decide how much to list their pool per hour, set the available times and days and determine amenities that will be included like pool floats or access to bathrooms or fire pits. From there, Swimply does the rest to book the pool to interested parties.
How much can you make in an hour renting out your pool? A Swimply representative told GOBankingRates the average rate of pools on Swimply is $45 an hour. Beyond an hour, it’s possible to earn thousands of dollars via pool rental. According to the Swimply representative, the app’s highest earner lives in Portland, Oregon and has already earned nearly $200,000 in two years using the platform.
Become a House Hacker
Homeowners interested in earning extra money in the recent housing market might consider breaking into house hacking. In a recent appearance on the “TODAY” show, real estate broker and president of R New York Stefani Berkin shared house hacking tips with viewers.
Those who own a residential home may decide to rent out a room, floor or unit to tenants and receive owner-occupied financing. In a best case scenario, this allows homeowners to generate passive income and build equity.
In the same segment, Berkin said homeowners can house hack by renting out other parts of their home. This includes swimming pools (see our Swimply mention above!), fenced backyards to act as private dog parks through apps like Sniffspot, driveways and other spaces in homes for storage purposes.
Work as a Translator or Language Tutor
When Salvador Ordorica was in college, he started a side hustle as a Spanish English translator. Ordorica created a website that offered translation services in Spanish and English and was able to earn income within an hour or two of work that paid for his books and tuition. Today, Ordorica is the CEO and founder of The Spanish Group — the former college side gig that is now an INC 5000 business with over 300 translators in more than 30 countries offering translation in 90+ languages.
As a translator, Ordorica said you can make good money. Translators can earn between $1,000 to $10,000 per month depending on training and types of languages they are able to accurately translate.
However, language tutoring may be an even better opportunity for those looking to make money in an hour. While translating requires training to provide accurate certified translations, Ordorica recommends language tutoring to gig workers seeking flexibility and the ability to tailor their skills to the needs of their clients.
More From GOBankingRates