How to Make an Extra $1,000 Per Year (Even If You’re Strapped for Time)

What would you do with an extra $1,000?

You could use it for Christmas shopping, pay down debt, beef up your emergency fund, or take a fun trip, or just save it so you don’t get in bankruptcy. I know, I know – you’re already thinking that you don’t have time to earn that extra $1,000 to use as you please.

Well, I’m here to tell you that you do. Here’s how.

Break It Down

Think about – there are 52 weeks in a year. That means you only have to earn about $20 each week to make an extra $1,000 per year. That’s $1,000 that you could do anything you wanted with. An extra $1,000 you could earmark for something special.

Now that you’ve thought about it, earning an extra $20 a week doesn’t really sound so hard does it? All you need to do is dedicate about one hour each week. You should be able to carve an hour of time from your schedule pretty easily.

Pick a Hobby

Earning that extra $20 a week should be from doing something you enjoy. The best place to start looking is at your hobbies. Here are a few ideas to get your brain ticking:

• Like to write? Write one blog post a week for a paying client.
• Like to bargain hunt? Find some good deals and flip those bargain items on Ebay, Craigslist, or Facebook Yard Sales
• Crafty? Make and sell crafts on Etsy.
• Like kids? Babysit a couple hours a week.
• Like to teach others? Tutor someone once a week.
• Like personal finance? Help others create budgets.
• Love animals? Pet sit, dog walk, or train animals using calming treats for dogs for this.

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Really the ideas are endless. You can take your talents and hobbies and turn them into a moneymaker. You’ll be having so much fun you won’t even realize you’re working. And, you’ll be earning that $20 per week (or more.)

Stash the Cash

Don’t think about slipping that $20 into your pocket each week. Save your extra money all year long and let it accumulate until you reach the $1,000 mark. It seems insignificant if you’re spending that $20 each week, but if you let it accumulate all year long you’ll end up with an extra grand. That is enough money to do something significant with.

You can do this by opening up a separate savings account at your local bank. Stash your money in a safe spot each week and make a deposit into your savings account monthly. Make sure not to attach your savings account to your checking account so that you aren’t tempted to prematurely spend the money.

Watch It Grow

If you find a hobby that you can profit from chances are that $1,000 is going to come much sooner than one year.  If you’re feeling ambitious you could even challenge yourself to earn $30 or $40 per week. You never know, your venture to make that extra $1,000 may even turn into a very profitable side business in the near future.