How to Make 500 Dollars Fast
The advent of the internet has created a world of opportunities for making money fast. Or relatively fast. A generation ago the term, “get money fast,” was considered dirty and disingenuous. But if you have a marketable skill and need to know how to make 500 dollars fast, you can make $500 relatively fast. Here are some tips.
Loan Money on Peer-to-Peer Lending Services
The online lending industry is taking the financial world by storm. Basically, you can sign up on a P2P online lending website and loan money to people in need of money. You can search through loan applicant profiles, choose who you want to loan money to, and offer loans on your terms. The more money that you loan out, the more money that you stand to make back via interest.
You can loan a $100, a few hundred or a $1,000 out to multiple lenders. Depending on the site, you can charge interest rates as low as 6% and as high as 36%. Loan out money through P2P lending websites like Funding Circle, Prosper Marketplace, Upstart, Lending Circle, and Peerform.
Rent Out Advertising Space on Your Car
There are ways you can make passive income just by driving. There is an industry of companies that match local businesses with drivers willing to allow their cars to be covered in advertisements promoting those businesses. You must apply online and wait for approval. The qualification process could take weeks or months.
If you are approved, it’s because you live near a business that is launching an advertising campaign. You will cover your car in decals, called a car wrap, that advertises that local business. You will have to drive in high traffic and high population areas. The more people who see your car advertisements, the more money you will make. You are paid by the mile and impact of exposure via your driving.
You can generally make up to $500 a month. But you will have to drive a lot and in places where your car wrap will be inescapably seen. Sitting idly in traffic just won’t do. You can sign your car up for a few weeks, months, or even years depending on the opportunity. You can sign up for this service on sites like Carvertise, Wrapify, Pay Me For Driving, Autowrapped, and Freecarmedia. Beware of scam companies that ask you to pay upfront for anything, which is never a requirement.
Rent Out Space in Your Home on Airbnb
Many international travelers don’t enjoy paying for expensive hotel rooms and fees. Also, most hotel rooms become fully booked or significantly raise prices if there is a popular event like a convention, concert, or event taking place nearby. That is why Airbnb has become so popular with travelers and people willing to rent out their home to travelers.
How much money you make depends on where you live. Airbnb hosts who live in large, metropolitan cities can charge significantly more than those who live in small towns and rural areas. Be aware of the prices that local hotels around you charge so you can charge lower but enough to profit well. Most Airbnb hosts can make a few hundred dollars to a few thousand dollars a month. You stand to make more if you rent out multiple rooms.
Don’t Overreach Your Marketable Skills
If you have a spare room, spare time to drive, money to invest, or skills to promote on the online gig economy, go for it. Assess your skills and look online for opportunities to make supplemental income through them.
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Allen Francis is a full-time writer, prolific comic book investor and author of The Casual’s Guide: Why You Should Get Into Comic Book Investing. Allen holds a BA degree from Marymount Manhattan College. Before becoming a writer Allen was an academic advisor, librarian, and college adjunct for many years. Allen is an advocate of best personal financial practices including saving and investing in your own small business.