Smart Investing: Quick Cash Strategies For Beginners

Making quick cash through investing can be a tricky business. While some people might think of high-risk, high-reward investments like stocks and shares, there are other, less conventional methods that can help you boost your income.

If you're looking for a more stable way to make money, you could consider a side hustle or gig work. For example, you could become a rideshare driver, sign up to be a freelancer, or sell unused gift cards or electronics. You could also take surveys, deliver groceries, or rent out your car or parking space.

If you're looking for a more long-term investment, you could open a high-yield savings account or look into retirement accounts, IRAs, or CDs.

Whatever method you choose, remember to do your research and, if necessary, seek advice from a financial professional.

Sell your time and labour

If you're looking to make some quick cash, you can sell your time and labour in a variety of ways. Here are some ideas to get you started:

Offer Freelance Services

If you have a unique skill set, such as writing, graphic design, or programming, you can offer your services online as a freelancer. Sites like Upwork, Fiverr, and Toptal allow you to create a profile, connect with clients, and find work. You can set your rates and work flexibly, choosing the projects you want to take on. This gives you control over your workload and income.

Task-Based Work

Websites like TaskRabbit and r/SlaveLabour on Reddit provide platforms for individuals to offer their time and labour for various tasks. These can range from writing blog posts and sending emails to moving furniture or cleaning. You can set your rates and choose the jobs that suit your skills and availability. This option provides flexibility and the opportunity to earn money quickly.

Driving and Delivery Services

With the rise of the gig economy, driving and delivery services have become a popular way to make money. You can sign up with companies like Uber, Lyft, Uber Eats, or DoorDash and start earning money by transporting passengers or delivering food and groceries. These apps usually allow you to work on your own schedule and provide opportunities for tips, which can increase your earnings.

Renting Out Your Assets

If you have underutilized assets, such as a car, parking space, or spare room, you can rent them out to generate income. Websites like Turo, Getaround, and Airbnb facilitate the process of renting out your car or living space to others. By leveraging these platforms, you can turn your idle assets into a source of quick cash while also covering some of your expenses.

Manual Labour and Odd Jobs

For those who don't mind getting their hands dirty, manual labour and odd jobs can be a great way to make quick cash. This can include yard work, cleaning, moving, or other physical tasks. You can advertise your services locally or sign up with apps that connect you with people in your area looking for help. This option often provides the benefit of getting paid promptly after completing the job.

Participating in Research and Studies

Another way to sell your time is by participating in psychological studies, focus groups, or research studies. Universities and research organizations often seek participants for their studies and are willing to pay for your time. You can sign up with platforms that connect you with these opportunities or reach out to local universities and research institutions. This option can provide an interesting way to earn money while contributing to scientific advancements.

Test websites and apps

Testing websites and apps is a smart and easy way to make some extra cash. You can earn over $10 per app test, and some platforms pay more for in-depth reviews. All you need is a device—a smartphone, laptop, or tablet—and an internet connection.

UserTesting

UserTesting is one of the more well-known and highly-rated websites that pay users to test websites and apps. To get started, you need to take a practice test, after which you'll start receiving paid test invitations in your dashboard. You'll also need to take a short screener for each paid test to see if you qualify, as customers want specific users taking their tests. You get paid $10 via PayPal seven days after you complete the test. UserTesting also occasionally offers live tests where you talk to a customer while testing a website, and these usually pay $30 for 30 minutes.

UTest

UTest is a platform with a lot of earning potential, but it can be a bit overwhelming at first due to the variety of tasks available. On UTest, you'll be looking for bugs in a piece of software, and the pay varies for each test cycle, but you can expect around $5 per bug on average. It may take some time to build up your rating and receive more test invites.

EnrollApp

EnrollApp is different from most other sites because it doesn't require a microphone or webcam to record your tests. The tests on EnrollApp usually involve simple tasks, such as comparing two web pages or clicking somewhere on a webpage. Tests can be taken on any device, and while they pay less, it's a fun and easy way to get started with testing.

Userlytics

Userlytics is a platform that offers web and app usability testing opportunities. Most tests are around 20 minutes and pay $10 each, paid via PayPal.

TestingTime

TestingTime conducts longer tests, usually lasting 30-90 minutes, that record your voice and face, so you need to be comfortable with that before applying. The pay can reach as high as $50 per test, and you'll be paid out in 5-10 days via PayPal when you complete a test.

BetaTesting

BetaTesting allows you to test websites, apps, and hardware products. Most tests pay between $15 and $30 for about 45-60 minutes of your time, and payments are made through PayPal within 14 days after the test is completed.

Ferpection

Ferpection is a French site that pays you to test websites and apps in English or French. Tests can be completed in 10-20 minutes, and you can earn between $10 to $20 per test, depending on the task's complexity. Payments are made through PayPal or gift cards once your test is reviewed.

Userbrain

Userbrain allows you to test websites and apps on your computer, iPad, or iPhone. Tests usually take 5-20 minutes and pay $5 each, and you should receive a few tests per month. Once you make $10, you can cash out via PayPal.

TestBirds

TestBirds is a software testing site that has conducted over 1,500 tests and found over 100,000 bugs. For a regular usability test, you'll earn €20 (almost $25 USD), and you can earn even more for each bug you find. TestBirds also provides free training to help you become a better tester.

User Interviews

User Interviews offers a great selection of paid web testing jobs, including in-person interviews that pay $125 for 60 minutes. They also have online-based, paid usability tests that pay $100 for 75 minutes of work, but payment is in the form of an Amazon gift card. With over 500 studies launched each month, there are plenty of opportunities on this platform.

PlaytestCloud

PlaytestCloud is a unique opportunity to test mobile games on iOS and Android devices. They also occasionally have surveys and other similar opportunities related to video games.

Tryber

Tryber is a paid testing platform based in Italy that works with a range of testing types, including bug-finding and usability testing.

UserCrowd

UserCrowd offers simple tests that are less than a minute long and pay out 10 cents each. While the pay is low, you can quickly earn extra money by completing several tests per day. Payout is via PayPal once you reach at least $10.

Userpeek

Userpeek (previously User Test) is currently in development but is beginning to accept tester applications. Tests pay $10 for 10-15 minutes of work, and payments are sent via PayPal. Tests focus on usability, requiring you to use a website or app while following specific tasks and speaking your thoughts out loud.

Userfeel

Userfeel offers tests that take around 10-20 minutes and pay $10 each. You can take the tests on your computer, smartphone, or tablet. You'll need to take a qualification test before applying for paid tests, and payments are made through PayPal.

Trymata

Trymata testers can earn between $5 to $30 per test by completing moderated and unmoderated usability tests on websites and apps. Approved test payments are automatically sent via PayPal.

PingPong

PingPong allows you to get paid to review websites and apps by joining live interviews with developers or product owners. Payments range from €10 to €100 per session, depending on the test, and you can choose when you're available, making it a flexible option.

Tester Work

Tester Work gives you the chance to get paid to test websites and apps by completing functional and usability tests. The pay depends on the complexity of the test and the bugs you find, and payments are sent through PayPal. Tests are available worldwide.

Userfeel

Userfeel is a platform where you can get paid to test websites and apps by giving feedback on how they work. You'll use a microphone to record your thoughts as you complete tasks, earning between $3 and $30 per test, with payments made through PayPal.

Userpeek

User

Take online surveys

Online surveys are a legitimate way to earn money on the side. They are an easy way to make quick cash, but not all platforms are worth your time. With so many options out there, it can be challenging to figure out which ones are worth your time.

• Swagbucks: One of the most popular survey sites in the world, it has a rating of 4.4 on the App Store with 123,000+ reviews, and a 4.4 rating on Google Play with an additional 197,000 reviews. You can earn between 1 and 350 Swagbucks (SBs) per survey, and for every 100 SBs, you earn an additional $1 that can be redeemed for PayPal cash or gift cards to places like Amazon, Lowe's, and Target.
• InboxDollars: This site has been in business since 2006 and was acquired by Prodege, LLC back in 2019. They hold a B rating with the BBB. Most paid opportunities offer a small amount of money, but the more surveys you take, the more you can earn. You can also earn money by watching video ads, playing games, and shopping online at stores like Target, Walmart, and eBay.
• Ipsos i-Say: Ipsos i-Say is a survey site based in Paris, but it allows users around the world to get paid to take surveys. It has an A+ rating with the Better Business Bureau and a 4.5-star rating on Google Play with over 66,000 reviews. You can earn between $0.45 to $0.90 per survey, and once you reach 500 points, you can cash out your earnings for PayPal cash, gift cards, or charitable donations.
• Pinecone Research: Pinecone Research is one of the more elite survey sites and limits its members based on demographics. You can apply for membership to see if you qualify. Each survey pays 300 points, worth $3, and should take only a few minutes, according to the company. You can also get paid to test new products.
• Survey Junkie: Survey Junkie is another leader in the survey industry, with a BBB rating of B. The company has been in business since 2011 and serves more than 20 million members. Most surveys are worth $0.50 to $3 per survey, and it takes a minimum of 500 points (or $5) to cash out via PayPal or with e-gift cards.
• American Consumer Opinion (ACOP): ACOP is owned by Decision Analyst, Inc., which has been in business for more than 41 years. The BBB gives this site an A+ rating. Your first survey pays five points, and includes questions about

Sell your stuff online

One way to make quick cash is to sell your stuff online. Here's how to do it:

Choose an online platform

There are many online platforms to choose from, each with its own unique features and fees. Some popular options include Amazon, eBay, Poshmark, Facebook Marketplace, and Craigslist. When choosing a platform, consider the type of items you want to sell, the fees charged by the platform, and the level of exposure you want for your listings.

Create an account and list your items

Sign up for an account on your chosen platform and create detailed listings for the items you want to sell. Include clear and well-lit photos, descriptive titles, and keywords that potential buyers might use in their searches. Some platforms may also allow you to set a fixed price or list your items as an auction.

Set competitive prices

Research the market to set competitive prices for your items. On some platforms, buyers may also have the option to make offers, allowing you to negotiate the price. Additionally, consider the fees charged by the platform when setting your prices to ensure you make a profit.

Communicate with buyers

Respond promptly to any questions or inquiries from potential buyers. Many platforms offer built-in communication tools, such as messaging or commenting features. Clear and timely communication can help facilitate a smooth transaction and increase the likelihood of a sale.

Complete the transaction

Depending on the platform and your preferences, you may choose to ship your items or arrange for local pickup or delivery. Ensure that you package your items securely and provide tracking information if applicable. Some platforms may also offer integrated payment processing solutions to facilitate the transaction.

Get paid

Once the transaction is complete, you'll receive your payment. The method and timing of payment can vary depending on the platform and your chosen payment method. Be sure to review the payment terms and conditions of the platform to understand when and how you will receive your earnings.

Become a rideshare driver

If you're looking for a way to make some quick cash, becoming a rideshare driver could be a good option. Here's a step-by-step guide to getting started:

Understanding the Rideshare Industry

The rideshare industry has become a popular mode of transportation in urban areas, offering flexible and on-demand travel options. It's important to understand the major rideshare companies, such as Uber and Lyft, and the specific requirements and benefits of each. Compare factors like commission rates, operating areas, and driver support to choose the right company for you.

Meeting Eligibility Criteria

To become a rideshare driver, you must meet certain criteria, including age and licensing requirements. Most companies require drivers to be at least 21 years old and have a valid driver's license. You must also have the legal right to work in your country and have a clean driving record. Some companies may have additional requirements, so be sure to check before applying.

Preparing Your Vehicle

Your vehicle must meet certain standards to be eligible for ridesharing. This includes the age of the vehicle, the number of doors, seatbelt count, and overall condition. Make sure to maintain your vehicle regularly and keep it clean to provide a safe and comfortable experience for your passengers.

Registering with a Company

Once you meet the eligibility criteria, you can start the registration process by creating an account with your chosen rideshare company. You will need to provide basic information, such as your name, address, driver's license number, and consent to a background check. You will also need to submit documents, such as your driver's license, vehicle registration, and proof of insurance.

Understanding Peak Times and Strategic Location

To maximize your earnings, it's important to understand peak times and strategic locations. Driving during rush hour or weekend nights can increase your earnings, and positioning yourself in high-demand areas, such as business districts or entertainment areas, can also boost your income.

Providing Excellent Customer Service

Prioritizing safety and customer service is key to success in the rideshare industry. Always follow traffic rules, treat passengers with respect, and keep them informed about route choices or delays. Responding to feedback and maintaining high ratings can lead to more ride requests and qualify you for bonuses and incentives offered by the rideshare companies.

Becoming a rideshare driver can be a flexible and rewarding way to earn extra income. By following these steps and providing excellent service, you can position yourself for success in this exciting and dynamic industry.

Frequently asked questions