7 Ways to Make More Money in 2016

Make this the year you give your income a boost. 

If you found yourself living paycheck to paycheck this past year or just aren't happy with your income level, make 2016 the year you give your income a boost. Start the year fresh by exploring different ways to generate extra money or increase your value as an employee to put yourself in line for a raise.
Here are just seven ways you could make more money in 2016.

 

1. Teach what you know. Are you passionate about a certain sport you excel in, or do you have a knack for photography? Teach someone else those skills for a fee to make some extra money as a coach. Think about what you are an expert in or very good at, then develop a curriculum that might help beginners build their skills and learn something new. You could offer in-person coaching sessions or make use of online education platforms like Udemy to sell an entire course and earn money on each course sold. The online course format could serve as recurring revenue for you since you only have to package and sell the course once in order to generate sales. If you prefer working one-on-one with people, consider offering half-hour or one-hour private sessions instead.

2. Monetize your favorite hobby. Whether you enjoy painting, photography, writing or crafting, consider selling your services as a freelance artist or selling items you create. Set up a website to showcase your work, and sell your handmade goods on sites like Etsy or eBay. Just make sure you set reasonable prices for items and services by taking a look at collections from similar sellers, and take the time to promote your offerings both online and offline.

3. Participate in a ride-sharing service. Uber and Lyft are always hiring new drivers, so if you have good navigation skills, a clean driving record and a reliable vehicle, you could make some extra money in your spare time. Sign up to be an Uber or Lyft driver so you can shuttle people around your town or city while earning some extra money from riders.

4. Develop new skills for your job. If a lack of a certain skill set is preventing you from getting a promotion at work, consider investing in your career with continuing education classes or an online course that will help you develop more skills. Take a look at free online education courses from sites like ALISON or Lynda where you can learn everything from basic computer programming to a new language. You can let your boss know you are investing in your career in this way and eventually add the new skills to your resume. These newly acquired skills could make you a stronger candidate for a better position at your current job, or give you a chance to apply for a higher-paying job elsewhere.

5. Serve as a pet sitter or child care provider. If you're great with kids or pets, consider offering pet sitting or child care services to neighbors and community members during certain times of the day. Single parents in your neighborhood may need some extra help during the busy workweek, and larger families might just need someone trustworthy to count on throughout the month. Let people know that you are available, and open up your schedule to generate some extra income on a part-time basis.

6. Rent out a room or parking spot. If you own your house and other areas around your home that someone might be able to use, consider renting out that space to earn extra money every month with minimal effort. You could rent out a single room, guesthouse or even a parking spot in a popular location that you have available around your property.

7. Monetize your skills on the Internet. If you need to make some extra money, but don't have time to commit to a part-time job outside the house, consider migrating your skills online. Amazon's Mechanical Turk program features simple tasks and assignments from all types of companies looking to fulfill very basic work orders. You can choose your own hours and work on all types of data entry and research projects to earn some extra cash any time of day.