How to Make Extra Money (20 different ways)
May 23, 2026Read time - 4 minutes / Disclosure
Finding ways to make extra money can:
- Help you invest.
- Help you buy a home.
- Help you leave 9-5 life early.
Unfortunately, the cost of living keeps spiking up.
The Prices
Since 2020, according to the U.S. government:
- Rent prices are up 30%.
- Used car prices are up 31%.
- Coffee prices have doubled.
Finding ways to make extra money is necessary for survival.
Hard pills to swallow:
— JOHN HENRY (@thejohnhenry) May 20, 2026
A $500,000 home will cost
$1,000,000 in the future.
A $50,000 car will cost
$100,000 in the future.
A $7 coffee will cost
$14 in the future.
Not theory. Facts.
In 2019, I remember sitting in my cubicle at work.
Looking out across the brightly lit office I could see 20 more cubicles full of people.
People working hard to provide for their family.
People in their 20s.
People in their 30s or 40s.
And a few in their 50s.
At the time, I felt grateful to have what some people would call a "good job" working for a bank.
Helping people figure out their money.
Heck..working there helped me figure out my money too.
But I couldn't imagine sitting in a cubicle for 20 more years.
I felt like I was missing out on life.
That I was living the same day over and over again.
That I would have regrets if I didn't make a change sooner than later.
So I became obsessed with figuring out how to leave 9-5 life early.
"If you don't find a way to make money while you sleep, you will work until you die."
– Warren Buffett
The More Money Checklist
Finding ways to make more money was something I couldn't stop thinking about.
Because making more money means:
- Having more money to invest.
And having more money to invest means:
- Having the option to leave 9-5 life early.
So over the 10 years I worked in banking, I created a list of ways to make more money (by $100s or $1,000s per month).
Ways I'd often think about.
Ways I learned on my own and ways I learned by watching other people manage their money.
Here are my 20 favorite ways.
Let's dive in.
1. The Work Raise
Ask for a raise & explain why you deserve it.
Getting a raise can make you thousands of dollars in extra monthly income.
2. The New Roommate
Rent out a bedroom in your home (if available).
Choosing to have a roommate can increase your monthly cash flow by $500+.
3. The Work Promotion
Work closely with your boss to get a promotion.
Earning a promotion can make you hundreds or thousands of dollars more per month.
4. The Spare Parking
Rent out a parking space you're not using (if available).
Renting out an unused parking space can earn you hundreds or thousands each year.
5. The Rental Increase
Increase the monthly rent if you own a rental property.
Raising rent can boost your cash flow by $500 to $1,000+ per year.
6. The Yard Rent
Rent out space in your yard (if you have a yard) to an RV owner.
Renting out unused space can earn you hundreds of dollars per month.
7. The Company Switch
Work for a different company for better pay (if it's worth making the switch).
Changing jobs can be tough but can boost your income by thousands of dollars.
8. The Auto Insurance
Update your auto insurance company to lower the cost (if it makes sense).
Shopping auto insurance rates and making a change can save you hundreds of dollars per year.
9. The Rental Refinance
Refinance your rental property home loan if you have one and it makes sense (talk to a CPA 1st).
Re-doing the loan on a rental property may save you hundreds or thousands in interest payments.
10. The Debt Payoff
Eliminate debt early (if possible) to get rid of the monthly payment.
Paying off debt early can free up hundreds or thousands of dollars every month.
11. The Solar Panels
Consider getting solar if you own a home and you live in a sunny state.
Getting solar can save you thousands of dollars per year in energy costs.
12. The Car Refinance
Refinance your car loan if you have one to lower the monthly payment if it makes sense.
Re-doing your car loan can save you hundreds or thousands in interest payments.
13. The Car Sale
Consider not having a car if you live in a walkable city. You'll no longer have car insurance payments either.
Living in a walkable city can save you thousands of dollars every year.
14. The Home Refinance
Refinance your home loan if you have one to lower the monthly payment if it makes sense.
Re-doing a home loan may save you hundreds or thousands in interest payments.
15. The Car Swap
Sell your car if making monthly payments and get something less expensive if it makes sense.
Opting for a less fancy car can save you hundreds in monthly car payments.
16. The Student Loan
Refinance your student loan (if you have one) to lower the monthly payment if it makes sense.
Re-doing a student loan can save you hundreds or thousands in interest payments.
17. The Student Perks
See if your job participates in secure act 2.0 and helps pay your student loans (if you have them).
Using employer student loan benefits if available can save you hundreds or thousands of dollars per year.
18. The Homeowner's Insurance
Change your homeowner's insurance company if you own a home to lower the cost if it makes sense.
Shopping homeowner's insurance rates and making a change can save you hundreds of dollars per year.
19. The Health Insurance
If married, review the cost of both spouses health insurance plans. Making a change may save money (works for single people too).
Comparing health insurance plans and making a changes can save you hundreds or thousands of dollars per year.
20. The Side Hustle
Start a side business doing something you enjoy like: consulting, graphic design, personal training, etc.
Sharing your knowledge or skills on the side can earn you hundreds or thousands of dollars per month.
The bottom line
In a world where the cost of things keep going up.
I've also found it useful to have a list of ways to keep making money.
Finding ways to make more money can help you:
- Save for your kids education.
- Buy a home or a rental property (if you want one).
- Plan to leave 9-5 life early (if you want to do your own thing).
I hope exploring this little list of ways helps you reach your money goals faster.
Thanks for taking the time to read it.
That's all for today.
See you next Saturday.
