Making money on the side can help make it easier to pay your bills, especially if you live in one of the more expensive parts of Maryland, like in the DC area. The good news is that Maryland residents have several options for increasing the amount of money they make, whether you want to make it your main source of income or just find a great side hustle.
Consider Rental Homes
When you think of investing in a rental home, you might think about the cost of homeownership and the need to take out a mortgage to get a second home. However, this is not always the case. You also have the option of getting one or more shares of a property. With homes in Maryland becoming more expensive, this can be a much more affordable way to put your funds to work for you. And because of tax benefits for owners of passthrough entities, you are able to take advantage of the qualified business income deduction, you might be able to save as much as 20 percent when it comes time to do your income taxes. You can learn more about general finance, investing, and the best mortgage lenders on Income Artist.
Working Extra Hours
It might seem obvious to take on more hours at work, but it can really help you increase your income dramatically. That’s because you already have the job, so the hard part of getting work has already been done. And if you are able to work overtime, you will likely get paid more for that than your regular hourly rate. Talk to your boss about working extra days or making your current days a little longer. Even a few extra hours of overtime can start to add up when you are consistent about it. Since commuting in the Maryland area can be tough due to the traffic, you might consider lengthening some of your days at work.
Selling Gently Used Items Online
There are many websites that let you sell items you no longer need this is one of the smartest ways to get instant cash that you should consider. Anyone can get set up with an account on one of these sites and get ready to start making money. If you have electronics or household items, you might consider snapping some photos and uploading them with a photo and a description of the item. While you may need to drop off the package at the post office once it sells, this is generally a great way to bring in some extra money when you are at home. And you might come home from work to find another item has sold.
Pick Up a Side Hustle
Since many Maryland residents enjoy some drinks in the evenings or on the weekends, there is a demand for good bartenders, and you can make some cash in just a few hours. Sometimes, you can bring in more money than the manager because of the potential to make tips. If you want to make money this way, you will need to be friendly and personable. Of course, you will need to get the right training to be successful, and some certifications are required. But it can be a great side hustle in the evenings if you plan on doing it for a while.
