8 Easy Ways to Make Extra Cash to Beat Inflation
According to the U.S. Bureau of Labor Statistics, the current rate of inflation in the US sits at 8.3%. This time last year, it was 5.4%.
In other words, prices are going up…fast.
If you’re anything like most people around the country, you’ll have been seeing costs soar and feeling the pinch for a while now.
Thankfully, there’s something you can do – there are plenty of ways that you can boost your income and regain control of your finances. Want to find out more?
Read on for 8 great ways to earn extra cash to help fight inflation.
Table of Contents
1. Get a New Bank Account Bonus
Did you know that some banks will pay you $200 to switch to them?
If you are working a job where you can be paid by direct deposit, you can get a $100 Bonus Offer from Bank of America or $200 from Chase. They’re just some of the bigger banks – other banks sometimes offer even more.
Here’s how to do it:
How to get $200 from Chase Total Checking®
Go to the Chase Total Checking website and open a new Chase Total Checking account.
Then, set up and set up direct deposit within 90 days.
Then, within 15 business days, you will receive a bonus of $200. You just have to keep the account open for at least 6 months or they take back the bonus.
There is a $12 monthly service fee that is waived if you have a monthly direct deposit of $500+ or keep a minimum daily balance of $1,500 or have $5,000+ in any combination of qualifying Chase checking, savings, and other balances.
See how easy that is?
How to get $100 Bonus Offer from Bank of America
Bank of America has a $100 Bonus Offer to new customers when they open a new checking account online through a Bank of America promotional page.
Three Bank of America banking accounts qualify for this bonus:
- Bank of America Advantage SafeBalance Banking® – $25 minimum opening deposit, $4.95 monthly fee waived for students under 25 or enrolees of Preferred Rewards
- Bank of America Advantage Plus Banking® – $100 minimum opening deposit, $12 monthly fee waived with direct deposit or daily balance requirements, etc.
- Bank of America Advantage Relationship Banking® – $100 minimum opening deposit, $25 monthly fee waived with direct deposit or daily balance requirements, etc.
All it takes is for you to open an account and set up and receive qualifying direct deposits totaling $1,000 or more into that account within 90 days of account opening.
Also, don’t forget, the Bank of America promotional offer code is DNB100CIS. If you click through the links on this site, the code will be entered automatically for you.
If neither of these interest you, or you’ve done them already, here’s a list of all of our best bank bonuses.
2. Get Free Stock From These Brokers
There are several brokers that will give you free stock just for downloading their app and opening an account.
You can get more stock if you deposit money, sometimes as little as $1.
You can do these all and get a load of free stock!
Robinhood – Free Stock
Robinhood will give you a free stock when you open an account – it can worth as much as $225 per share! And the account has no minimum balance or maintenance fees, so the stock is literally free.
Webull – up to 12 Free Stocks
Webull has a free stock offer too. OPen an account and get 2 free fractional shares worth up to $300. Then, deposit at least $1 and get 4-10 more, worth up to $3000.
Moomoo – up to 10 Free Stock
Finally, Moomoo is another new broker that will give you up to 5 free stocks (worth $3 – $2000 each) when you open an account. Then, deposit at least $100 and they will give you another 5 free stocks.
3. Do Online Surveys
Completing paid surveys is one of the easiest ways to make money. Period.
All you have to do is partake in market research – sharing your personal experiences, perspectives, and opinions on things like your shopping habits and favorite movies.
Now, with most surveys paying a matter of cents, you have to fill out an awful lot to earn a reasonable income. But don’t let that put you off. Unlike other options we’ve discussed, this is something anyone can do, from anywhere.
Sign up to survey sites like SurveyJunkie and Swagbucks and you can start earning extra cash immediately. Heck, SurveyJunkie even has a browser extension (called Pulse) that’ll pay you for doing literally nothing. It simply tracks the ads you see online and gives you a few bucks each month for the privilege.
4. Become a Meal Delivery Driver
The gig economy’s a go-to source of income for 36% of US workers nowadays. And for good reason. Although the jobs aren’t as secure or high-paying as permanent positions, they’re often ubiquitous and easier to acquire – regardless of your age, experience, or employment history.
Meal delivery driving is a prime example.
Sign up for a service like DoorDash and you can start delivering peoples’ takeout orders today. You’ll have full control of your schedule and, if you live in an area with lots of popular restaurants, can earn a sizable side income with minimal effort (especially if you drive instead of cycle!).
5. Sell Unwanted Possessions
The average American home has 300,000 items in it.
For context, the AT&T Stadium in Texas is the biggest domed structure in North America. Its maximum capacity? 100,000. That means the number of people this huge structure can hold is 3x smaller than the number of items you may have at home! Here’s the point we’re trying to make:
You’ve probably got a whole lot of “stuff” you could sell! So go digging and start decluttering. Scour the bedrooms, basement, garage, loft, garden shed, and the depths of the sofa to find anything you no longer want, use, or need.
If it’s electronics, consider selling it on a site like Decluttr. They can help you find the best price for your old cell phones, tablets, and even computers.
If you’re looking to sell jewelry, one of the best places to look is Worthy. You can list for free and only paid a fee if it sells.
Otherwise, advertise it online (e.g. Facebook Marketplace or Craigslist), host yard sales, and/or visit the local pawn shop. You could make thousands of dollars. And remember: one person’s trash is another’s treasure. Those beaten-up kids’ clothes, sporting goods, and old computer games might be more valuable than you think.
6. Rent Out Your Room(s)
According to Statista, just 10.8% of American homes have a single bedroom. 25.7% have 2 bedrooms; almost 40% have 3, and 17% have 4 or more.
How many do you have? More importantly, are any of them empty? Or could you convert another part of the house into an extra bedroom? If so, you have another powerful money-making opportunity at your fingertips.
Anyone who doesn’t mind sharing their living space could find a long-term tenant and charge them rent. Alternatively, you could use a service like Airbnb to attract a steady stream of paying guests. Both strategies require sacrifice, but the effort involved can be lucrative – particularly if you live in a sought-after location.
7. Rent Out Your Car(s)
Your home isn’t the only piece of property you can use to generate a side income. Services like Turo, Getaround, and Hyrecar allow you to rent out your vehicle too. Assuming you don’t need 24/7 access to the car, it’s a near effortless way to boost your bank balance. But here’s a thought:
Do you really need that fancy set of wheels in the first place?
Imagine what a financial difference it’d make if you didn’t have those sky-high monthly loan repayments to worry about.
Better still, quality used cars have been selling like wildfire since COVID struck, so it shouldn’t be hard to find a willing buyer. You’d end up with a nice cash injection to help pay the bills and could replace your previous car with a cheaper, economical ride. Of course, if you found a vehicle you could afford to buy in cash, you’d ditch those loan repayments altogether…
8. Drive for Rideshare Services
Don’t fancy lending your car to strangers? Don’t worry. Rideshare services, such as Uber and LYFT, provide another fantastic way for everyday people to make money from their vehicle – provided it fulfills certain criteria.
Indeed, this would be one reason not to downgrade your whip. Uber, for example, requires your vehicle to have 4 doors, be 15 years old or newer, and have no cosmetic damage, missing parts, or branding. You’d need the right insurance as well, which isn’t always provided as standard by the rideshare company.
Tick those boxes, though, and you can sign up, log on, and (following a brief training program) get to work, making good money as you go. You’d decide your hours, but we recommend driving when demand is higher to earn better money.
Fight Inflation and Make Extra Money Today
The rising inflation rate in America is putting countless people under exceptional financial pressure. Not only that, but if the current trend is anything to go by, the situation’s only set to worsen.
Don’t despair yet though! As we’ve seen, there’s also a wide range of ways to augment your income and thus reduce the financial strain. Try your hand at any (or all) of the money-making options above and you’ll soon see what we mean.
Looking for additional ways to increase your income? Check out this list of 54 passive income ideas.
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