Become a referral source for local businesses.
A lot of small, local businesses — like landscapers, electricians, and home improvement companies — spread by word-of-mouth. Many of them pay referral fees for people to help spread a good word about their businesses.
So the next time you have your plumber over, ask if they offer referral bonuses. And if they do a good job, take advantage of that when you recommend them to a friend.
Make a website and get advertisement revenue
If you’re an expert in a subject, but that subject isn’t fit for a book project or an online course, set up a website!
Use Wordpress, Weebly, or some other web-creation platform to make a site and make your guide there. Then sell online ads — which you can do with Google, for example— on your site so that you get some spare revenue whenever someone reads your work.
If you’d rather implement a paywall instead of advertising, the startup Verst can help you do just that.
Or make a YouTube video guide
Stick with me. Let’s say you’re an expert on a subject, but the best way to convey your information isn’t in a book, an online course, or a post on the web. Instead, consider making a YouTube video.
YouTube is filled with thousands and thousands of guides on every topic imaginable. If you’re an expert on how to do a factory reset on an iPhone, you can make a video about that. If you’re an illustrator and want to explain the vocabulary of your trade, you can make a video about that.
As with the web, YouTube lets you set up ads on your videos. People searching for those subjects will find your videos, watch them, and then the ad revenue will roll in indefinitely.
If you already have a website, use referral links
Whether your website is an online guide, a blog, or whatever else, use referral and affiliate links whenever you discuss a product.
Sites like Amazon, for example, let you add a bit of code in the URL of a product. If anyone buys the product through that URL, you get a percentage of the revenue from that purchase.
Get even more cash back with Ebates
Thousands of online stores, whether it’s J.Crew or Amazon, also offer cash back for purchases you make on their sites. You just need to know where to look.
The website Ebates catalogs almost all of them. If you shop with their browser extension installed, it’ll tell you when cash back or coupons are available. You can also use the extension Wikibuy or Honey, which have Ebates integration built in, and additionally checks in the background if the item you’re shopping for is cheaper on a different website.
TopCashBack is another good EBates alternative. It’s a bit harder to use, but sometimes offers better rates.
Save your money in a high-yield savings account
When you save your money in a savings account, banks often give you extra money based on interest.
Sometimes their interest rates can be low — below inflation rates, even — which means you’re effectively losing money. The interest figure, often referred to as “APY,” can differ based on which country or state you live in and what each bank offers in your area. On the low end, they’re about 0.01%, assuming you meet the bank’s minimum requirements.
But with a high yield savings account, you can get an APY of about 1%. It isn’t much, but it’s significantly higher than what a low-interest account would offer.
Unless you have a lot of savings, it’s hard to be eligible for a high-yield savings account from a traditional bank. Instead, you’ll probably have to park your money in an online bank, like Ally or Synchrony. Since they don’t have brick-and-mortar stores, they pass the money they save on rent to the consumers, with things like high-yield savings and by reimbursing users for ATM fees.