43.3% of Americans have less than $500 set aside for a financial emergency. Most Americans (61%) can’t come up with a $1,000 in case of an emergency.
Saving $1,000 is the first step toward taking control of your financial future. In addition, having at least $1,000 as a nest egg will help you prepare for emergencies and get your financial life in order.
You can live frugally and cut out any extra expenses to save $1,000 quickly, and you can also make some extra money to put directly into your $1,000 nest egg account.
Here are some ways to create a $1,000 nest egg without doing anything illegal!
Drive for Lyft or Uber
Depending on where you live and how much availability you have, you can make a lot of money driving for Uber or Lyft to put towards your nest egg. For example, this driver made about $257 for less than 14 hours of work — or about $19 an hour. Doing this steadily for a few shifts can quickly get you to your $1,000 goal.
Have a unique skill or passion? Create and sell an online course. There are plenty of websites available that make getting started easy! You make the curriculum and set the price. Teachable and Thinkific are both great starting points. You can also become a tutor and help students with their schoolwork.
Sell Your Jewelry
Go through your old jewelry and see if you have any mismatched or broken pieces containing gold or silver and sell them at a place that buys coins & precious metals. You may not want to sell your sentimental pieces, but you can probably find items you can no longer use. Selling them will get you some much-needed cash flow. If you can’t find a broker to buy them, you can pawn them or try to sell them on eBay.
Mow Lawns and Do Gardening Work
Knock on some doors, hang up some signs, or post on neighborhood groups that you are willing to cut back perennial plants, remove dead annual plants and weeds, rake, mulch, and get the garden ready for winter or summer for a flat fee.
Sell Your Clutter
Have a look at everything you have in your house. Whether it’s old clothes, books, or even old cell phones, you’re not benefiting from them if they’re lying around and not in use. So instead, try selling your old clutter and get some cash.
See if there is any furniture you can part with for a price. You’ll be surprised how much you can get for your old junk! There are many platforms to sell your used stuff, but if you need emergency cash quickly, try posting it on neighborhood chats and groups or craigslist- you will get some money in your hand faster.
Do Tasks With an App
One way is to make money doing tasks via the gig economy. Apps like TaskRabbit, Instacart, Handy, and many others allow you to find some quick jobs that will pay you. Doing odd jobs is a great way to make extra money to fill your nest egg.
Switch Bank Accounts
Another way to get free money fast, and build your nest egg, is to switch bank accounts. When most people think of sign-up bonuses, they think of credit cards and don’t realize that many bank accounts will offer you a few hundred dollars to make the switch. So whether it’s a checking account or savings account, it's probably worth a look now if you haven’t looked at your other banking options in a few years!
Rent Out Your House
Whether you own or rent a house, consider house hacking to generate rental income to get some quick cash. Two quick ideas to consider: Rent out a room in your house, get a roommate, or rent your place on Airbnb when you know you’ll be away from home.
Lower Your Interest Rate
Reducing your interest payment is the fastest way to keep more cash in your pocket. The Federal Reserve has lowered interest rates across the board. Make sure you take advantage of it by refinancing your personal or student loans. Then, take that extra cash and put it towards your nest egg.
Do Transcription Jobs Online
If you want to work from the comfort of your home and determine your hours, transcription jobs may be perfect for you. You can make some extra money on top of your regular salary or treat it as a full-time job. It’s entirely up to you!
Advertise online or with papers posted in community centers, libraries, etc., that you are available to clean houses. Cleaning houses is hard work but can pay good money, usually cash. Focus your advertising efforts on areas where people are more likely to have extra cash to spend. You can clean three houses and make $1,000 fast.
Become a Shipt or Instacart Shopper
Shipt and Instacart are great ways to make money while keeping your full-time job. You can make money by delivering groceries or other items. In addition, you can set your hours and take the jobs that work for you. It’s a great way to make extra bucks at night, on your breaks, or on the weekends.
Babysit or Pet-sit
Babysitting is the popular one, but pet-sitting is a thing too! According to the recent National Pet Owners Survey, 70% of American households own a pet. So, what does this mean for you? First, there’s a huge market for you! And, let’s not get started with how many homes have toddlers.
Homeowners have to go to work, travel and get some alone time, and that’s where you come in – to watch their loved ones. You can earn good money every day by doing this. Babysitting and pet-sitting are great ways to make $1,000 because you can usually multitask and do other jobs simultaneously. For example, you can babysit at night while studying for school, working on your side hustle, or even taking surveys to get a little extra cash.
Building a $1,000 nest egg is an excellent first step towards achieving financial success. These are some easy ways to make $1,000 fast.
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Robyn is a millennial mom with a passion for personal finance. She has her MBA and has been studying Personal Finance on her own for as long as she can remember.
She has always been “into” personal finance but got inspired to start her blog after a period of extended unemployment. She says that experience really changed the way she viewed her relationship with money and the importance of accessible personal finance education. Read more at A Dime Saved.