Saving up for a downpayment is a big endeavour. One of the best things you can do when saving up for a house is to look for ways to make extra money. There are two main benefits to working a side hustle to save up for your downpayment. First, it helps get more money (duh) but secondly, it keeps you busier, so you aren’t able to spend the money you’re making. A double win if you ask me. With this in mind, here are a few ways you can earn a little extra cash for your downpayment:
Ask For Another Shift or Work Overtime
The first and easiest thing to do, is go to your employer and explain that you’re trying to save up for a downpayment on a house. Tell them you’re wondering if there is any overtime or extra shifts available for you to pick up. Let them know what you’re able to work and see what happens. If there is nothing available at the moment then ask them to keep you in mind if and when extra hours do pop up.
Get a Part-Time Job
This is another easy one. The key thing here is to realize that a part time job is a means to an end. You’re trying to save up for a downpayment and taking an extra job doesn’t mean it’s a career choice that you will be at for the next 10 years. Search around the internet or for local jobs and see what’s s available. With winter coming up, there are generally additional retail and hospitality jobs available during the holidays. During other times of year, different industries will be on the lookout for seasonal hires.
Sell Your Unused Stuff
This is a simple way to get extra money in your pockets. No doubt you have stuff you no longer use. Sell it! Jump on Kijiji and sell your unused items. People are always looking for things so this is a great way to make some extra money quickly.
Turn Your Skills Into a Part Time Business
If you’re looking for something that has the possibility of becoming more long term, consider turning your skills into a part time business. These businesses don’t have to be complicated, things like teaching a musical instrument or cutting grass are still things people need done all the time. I did both of these and while they aren’t as glamorous as an internet start-up, they are really good quick paying jobs. Or you can take your skills online to sites like Fiverr.com and start selling the skills you are good at and make some extra cash at home.
Start Delivering Food
Being a deliver driver through programs like UberEats is a great way to earn extra money in your spare time. Best of all, you’re in control of when and how often you work. This way, your life isn’t consumed by the schedule of a part time job. You just use the UberEats app to see if there are deliveries around you and pick-up deliveries when you can. Best of all you don’t need a car. There are other options available to UberEats drivers (like biking!).
Click here to apply to become an UberEats driver. If you would like to learn more about what’s involved in becoming an UberEats driver you can check out this post here.
Start Driving for Uber
If you would rather have some social interaction in your job, then you could start driving people around with Uber. The part-time driving gig is a pretty sweet option. Much like the UberEats, as the driver, you get to choose where and when you work. It’s very simple to signup (you can see their post here). The application process is really straight forward. If you like driving and have an extra hour in the evening you could be earning extra money sooner than you think.
✅ To recap, here are some really quick ways you can start earning extra money: