How do you earn/save extra money thread?

47 Replies

Thought it would be a cool idea to share how you earn or save extra money, no matter how large or small....to help make our pockets bigger. I think finances is an area one can always improve on....might as well learn from each other. 


I called xm radio and got my bill reduced about 8 dollars a month.

Also started using chase credit card. 1.5% cash back and bonuses on purchases I already make, I'll have about an extra 700 a year.

What are some hacks or extra income streams you have, real estate or otherwise?

@Joe Marshall I buy/sell items online, primarily event tickets, but I've sold a few SNES Classics and even flipped a car. Don't always make money, but I purchase with the mindset of getting at least a 20% return.

As far as making my money go further, I use checking accounts that offer high interest when you fulfill certain criteria. Currently, I'm getting 3% interest on up to $10k. Have money in the stock market, short-term CDs, and also been getting into crowdfunded revenue sharing notes (not sure how this will turn out). 

Been pondering the idea of buying up some land with the intention of having chickens, goats, etc while also growing some sort of fruits, and ideally the land has some timber I can sell for a few grand. But not sure all that is worth the headache and will take a lot to learn.

I got my license. It helps me make some extra money helping friends buy a home. It also saves me money when I do my own deals. I think I got around 15k on my 1099 from being an agent in my first year with the license. 2/3 of the deals were my own and the other couple were friends/referrals. My full time gig is a HS math teacher and wrestling coach.

I’m probably the only person in Dallas who doesn’t have a car yet. I work from home and whenever I need to go downtown I just use public transport, and worst case there’s the occasional uber/lyft

We got rid of cable TV.  Now I am addicted to BP.

Originally posted by @Susan K. :

We got rid of cable TV.  Now I am addicted to BP.

I did the same. Firmly believe that TV is nothing but propaganda. I am not paying someone to get brainwashed. 

My goal is to save $60k /yr. Rather save 60 than make 90. The net is the same after taxes.

I focus on big stuff. Saved $47k buying the LLC vs the commercial building, self-close buys, sell my houses by owner, draft my own finance docs, do my own taxes, swap my own water heaters, etc.

Of course I brown bag my lunch, have OTA antenna tv only and borrow seasons of shows and movies from the library. Also get audio books there.

Bought my last sports car way below value with the commission savings of my FSBOs last year. Could drive it a couple years and sell for what I paid. Invested the difference in stocks at key support levels, now can buy something else. Multiply your $. 

I buy stuff like counter and cabinet resurface kits & ceilings fans on clearance at 70-90% off, then do the project. Bought $20k worth of windows for $1500 at the dump.  Never spent more than $9-$10 on a $40+ gallon of mistint paint. Will buy $170 5gal buckets for $35, then mix my own and have a house painted or save a trip to the store picking and matching.  That kind of stuff, while I'm there anyway.

I won't drive across town to save $.03 on gas or cancel my newspaper or gym membership, but will save on the fatties.  Good discussion!

Originally posted by @Susan K. :

We got rid of cable TV.  Now I am addicted to BP.

 Lol same here.

I also buy and sell in sports cards.  About 10k a year...and I enjoy it lol

@Max Tanenbaum haha wow! I’m a high school math teacher and wrestling coach too. I’m full time in real estate though.. doing so much business it’s a full time thing for me. 

Originally posted by @Joe Marshall :
Originally posted by @Susan K.:

We got rid of cable TV.  Now I am addicted to BP.

 Lol same here.

I also buy and sell in sports cards.  About 10k a year...and I enjoy it lol

Where do you sell the cards? I have a ton from when I was little just sitting around.

I would buy stuff at garage sales knowing that at some point I'd need it. I would buy leftover ceramic tile as long as there was about 12 or more square feet. That way I could re-do the entryway between the front door and the carpet. Nice first look for prospects.

In addition to doing light repairs and replacements, water heater, toilets, plumbing, I learned how to troubleshoot air conditioning. It often turned out that the problem was the exhaust fan, the contact/relay or the thermostat, all of which I could replace. No need to call a high price technician for that.

I learned how to do roofs too. At the time I had just finished my MBA and had a pretty nice corporate gig. The first roof I did was on a place with a 7% VA loan that realtors had no luck selling because the roof leaked. I started the roof work in late afternoon because the edge work takes a lot of time. I'd work until supper and sometimes I'd work a couple hours in the morning. I did that for a couple of weeks and finished on the second weekend. Some Kilz for the ceiling and a complete interior repaint and I netted $23,500 in about one month.

My wife and friends laughed about me paying all that money for my masters degree just to be a roofer, most of whom earned about $3.50/ hour. I pointed out that if you watched them working there might be 10 of them on the job which was $35.00/ hour

manufactured spend to bump up credit card bonsues.

Travel "hacking" to reduce my costs and maybe little first class action....

Really though it's easier to save by buying smart. Example I got a rug that was customer return and to be honest the store wanted it gone. Used new customer coupon etc got it done to about 250 from like 800. Now, I'd probably of never spent 800, but other rugs were in the 500 range and I almost got one. That was a 250 dollar savings and I didnt have to do anything.

Another example is I'm getting a tree removed. First bid was 6k, dropped it down to about 5500 with "discounts". Next bid came in 3700, can knock it down to close to 3400 if I pay cash. That saved me 2100 and again, I didn't have to do anything but shop around.

Originally posted by @Kevin Coggins :
Originally posted by @Joe Marshall:
Originally posted by @Susan K.:

We got rid of cable TV.  Now I am addicted to BP.

 Lol same here.

I also buy and sell in sports cards.  About 10k a year...and I enjoy it lol

Where do you sell the cards? I have a ton from when I was little just sitting around.

 Mostly ebay or instagram.  Ebay is a good place to check comps of what you have

I used to buy used golf clubs and sell them individually or package them and sell with a bag as a whole set.  I just enjoyed it.  My favorite part was finding and learning about the 100 year old hickory shafts!

Originally posted by @Matt K. :

manufactured spend to bump up credit card bonsues.

Travel "hacking" to reduce my costs and maybe little first class action....

Really though it's easier to save by buying smart. Example I got a rug that was customer return and to be honest the store wanted it gone. Used new customer coupon etc got it done to about 250 from like 800. Now, I'd probably of never spent 800, but other rugs were in the 500 range and I almost got one. That was a 250 dollar savings and I didnt have to do anything.

Another example is I'm getting a tree removed. First bid was 6k, dropped it down to about 5500 with "discounts". Next bid came in 3700, can knock it down to close to 3400 if I pay cash. That saved me 2100 and again, I didn't have to do anything but shop around.

We have 3 small children. Expensive rugs is a NO NO for us LOL.

Originally posted by @Frank Adams :

I would buy stuff at garage sales knowing that at some point I'd need it. I would buy leftover ceramic tile as long as there was about 12 or more square feet. That way I could re-do the entryway between the front door and the carpet. Nice first look for prospects.

In addition to doing light repairs and replacements, water heater, toilets, plumbing, I learned how to troubleshoot air conditioning. It often turned out that the problem was the exhaust fan, the contact/relay or the thermostat, all of which I could replace. No need to call a high price technician for that.

I learned how to do roofs too. At the time I had just finished my MBA and had a pretty nice corporate gig. The first roof I did was on a place with a 7% VA loan that realtors had no luck selling because the roof leaked. I started the roof work in late afternoon because the edge work takes a lot of time. I'd work until supper and sometimes I'd work a couple hours in the morning. I did that for a couple of weeks and finished on the second weekend. Some Kilz for the ceiling and a complete interior repaint and I netted $23,500 in about one month.

My wife and friends laughed about me paying all that money for my masters degree just to be a roofer, most of whom earned about $3.50/ hour. I pointed out that if you watched them working there might be 10 of them on the job which was $35.00/ hour

My husband is doing pretty much the same things himself as you do, but never dealt with air conditions. I will read your post to him, it's going to be helpful in the future.

Anyone pay their mortgage with credit cards for points/cash back?

In my opinion, if you have an end goal in mind, it will be much easier to save money.  For example, want to retire in 10 year? Then start thinking about how much money you need in 10 years to retire comfortably. Same applies to saving for investments...You can also take into account different factors (inflation, interest rate...) and then calculate how much money you need to save each month to accomplish your goals. You can choose to save anywhere between 20-70% of your monthly income depending on your situation. 

Keep track of your expenses and run your personal income statement and balance sheet every month. 

Some other tips would be: use a credit card for points, pay off your student loan debt as fast as possible, protest your property taxes...

The below I copied and pasted from another thread here but this is what I do.

I am a master at side hustles so I have some ideas for you. I am not sure where you live but here is my current list - you do not need to do all these or any of them - I am just sharing with you to give you ideas how a small investment can pay off big time if you are willing to work at it.

Plowing snow - with a decent truck and a guy who likes to work I have made over 2,000 in one single storm. I was in the truck for 20 hours though. A cheap plow truck can be had for around 2,000 dollars.

Dump runs - If you have a truck for plowing snow you will also find a million and one uses for it in the summer. In addition to being helpful at Home Depot I use my truck to do dump runs for people. Often times it is trash and I just bring it to work the night before the dumpster gets emptied and load up our dumpster... on the flip side I have gotten some super high end pieces of furniture for my house this way. Nothing like getting paid to remove stuff and reusing it in your own house.

Mowing grass - this is one I am just embarking on - I have a commercial walk behind for my own property, a riding lawn tractor (actually 3), a push mower etc. So when Greg from my local meetup asked for someone to mow his property online I immediately volunteered.

Car flipping - I work at a garage and frequently find cars that need fixing. I will buy them and then resell them, occasionally I will do nothing other than wash it and take better photos. Other times there is more work involved. I like selling but hate working so I sometimes partner with a coworker - he is not opposed to doing work but hates dealing with people so it is a win-win for both of us. I also help friends and family sell just about anything and take a percentage or flat fee for selling there stuff.

Side work - As stated above I work at a garage - we always get our during the day work done first so at night I will work late and bring in a little bit of income helping friends and family with vehicle repairs.

Car detailing - this is pretty thankless and I am a perfectionist and you can't charge much for a detail and it takes me hours. I do not do things halfassed so it will probably take me an entire weekend to turn a car around.

Flea market flipping - my long time girlfriend has a fine arts degree - so she can refinish furniture in her sleep. I buy the stuff, she refinishes and relists it (she is also a photographer and good photos help sell.) I see my initial investment back plus 20% of the profit.

Now you can flip anything - I have bought and sold cars, phones, guitars, tablets and the list goes on. Anything that is undervalued or poorly written and has bad photos is an easy pickup.

I keep a little bit of money in a Netspend savings account (5% interest on the first 1k in the account). This is use as my emergency fund or to store cash that I want to deploy quickly. It is safe and FDIC insured.

I drive a car that has 150k miles on it. Hopefully get it to 200k miles before getting a new one. Don’t have any consumer debt of any kind.

Change jobs if need be to increase income (did this twice last year and moved twice)

Go to grad school. Invest in yourself. Save 50 percent take home income.

I thought of getting a second job but honestly graduate school has such a better ROI. Attending a top 15 (in the country) engineering program (for its specific type) for what will likely be less than 10k when including employer assistance, can’t beat that.

@Joe Marshall

Cash back credit card is smart, I use as well 

I don't have cable 

I used to flip on ebay/ amazon years ago... 

I think the best way to do this is live way way way below your means, until you hit your target numbers 

I have been running what I consider the handyman real estate investor's best side hustle for quite some time now. I am one of Home Depot's Top 25 reviewers and a member of the Home Depot Seeds Program. If you've ever heard of the Amazon Vine program, Home Depot has a similar program. You have to be invited into it -- my invitation came two and a half years ago.

Every month, HD sends me a list of about 500 items, and I can choose 5 of them, including one "premium" item. They send you the stuff, you write a review on it, and you get to keep the stuff.

When I joined the program, I was pretty sure it was going to be nothing but drill bits and hacksaw blades, with the odd extension cord thrown in. I was wrong.

A condition of the program is that I cannot sell any of the items that I request, and so I don't do that. I write up a Schedule C on these items and declare them to the IRS. As the reviewing gig demands that I open these up and actually test them, I list their value as open-box, slightly used products.

Here is the best part: my CPA lists the value of these items as hobby income. If you have hobby income, you can deduct your hobby expenses from it. So my hobby income from reviewing is offset by my expenses doing the other part of my hobby, renovating the homes I buy to convert to rentals. And I of course use many of the items I get through the Seeds programs in these renovations. This allows us, for a fraction of the cost of these items, to use them in low-budget rentals. Ever seen a $550 European shower system in a budget rental? How about a vessel sink in hand-blown glass? Well, we can do that for our tenants, thanks to the Seeds programs, for no additional direct costs to us.  It gives us a great leg up over our competition in our rental market.

I went to school to be an auto mechanic. I don't use my degree at work, but I now do all my neighbors and my own maintenance! This saves me $60ish an oil change on my own car and makes me a little on the side. We also have stopped using K-cups for coffee. Instead we bought a reusable insert for our Keurig and started making Maxwell House by the cup. It's not great, but we barely taste our coffee in the morning anyway! Now, instead of getting starbucks for a treat, I'll by a $5 box of fancy k-cups and have a latte at home on the weekends. That box will last me 2 months.

@Jim K. That is awesome! How many reviews do you think you did before you got invited? 

That is a very simple thing that anyone can do on any product that they buy at HD, big or large.

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