Are there really ethical ways to make money fast? Yes, but they are primarily short term solutions. They’ll help you raise some cash quickly, but don’t think these are get-rich-quick plans. With that in mind, here are a few ways to make money fast.
Sell More Time
This is one of the ways I like least, but one of the most reliable. Working longer hours at work, or getting another job is one of the surest ways to make money fast. It has the added benefit of taking away time that you might otherwise use spending more money. Take shifts from other employees, stay late (if you are paid hourly), volunteer for holidays. Don’t like this plan? Keep reading…
Sell Time For More
This is somewhat better than the last way. To sell your time for more money, you will have to do one of three things. First, you can look for a higher-paying job. Second, you can negotiate a raise (this works best after the first option, by the way). Third, you can get paid for what you produce, if you are a productive worker. This can mean getting paid by the piece in some jobs, or getting paid commissions in a sales job.
Engage In Arbitrage Based On Your Knowledge
Arbitrage is the buying and selling of things in markets that have pricing inefficiencies. For example, if a used car of a particular model and year normally retails for £4,500 – and you know this – you can watch for an opportunity to buy this car for less, and sell it at retail. I know people who regularly make £2,000 per vehicle buying and selling cars out of their front yard.
This isn’t about cars, however. It is the principle that matters. Where is your expertise? More specifically, what can you put a price on and find a buyer for? I knew a guy who regularly bought used restaurant equipment for half of what others were paying. Even things you wouldn’t expect, like engagement rings and dogs are “turned” for a profit in this way.
No cash for this? Try credit card advances. What’s £100 in fees and interest if you make £1000 buying and reselling a coin collection? No credit cards? Find a partner. If my friend who knows boats ever tells me he can get a £5,000 boat for £3,000, he knows I’ll put up the money for half of the profit. I like making hundreds of dollars in a few weeks just by playing with my money. Others do too.
Use everything you’ve got to make money fast. Look at your life and assets. If you have a home, you could rent rooms. If you are single, you can rent a room for a while instead of an apartment, and bank the difference. If you have extra time, you can start a business on the side. I can make more money fast by mailing an offer to my lists now, but then that is because I put in the time to build my internet business. That brings up an important point.
If you expect to start a business today and be rich a few months from now, you are probably doomed to struggling for money forever. It isn’t that it’s impossible. In fact, if you take away a rich man’s last penny, chances are he’ll have more money than you three months from now. He has spent the years learning about money, and making contacts, you see.
Ironically, it is those who hope for ways to make money fast and easy who are least likely to make it that way. Opportunity seekers are always chasing an easier way instead of making strategic plans and commitments. So use these ways to make money fast, but don’t think you’ll attain real wealth without some kind of commitment to learn and do what is necessary.