How to Get Money Without Working

Wouldn't it be great if you could get money without working? While there's no surefire way to strike it rich without working, there are certain ways to raise funds for yourself with very little or no effort on your part. If you have some money to invest or are willing to put some effort into your next money-making endeavor, you'll have a much better chance of consistently making money without a traditional job.

Method 1

Making Money in Non-Traditional Ways

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   Rent out a room in your house. If you have a room (or rooms) that are going unused in your house, consider furnishing them and renting them out to tenants. If you do so, be sure to abide by the laws that govern landlords in your local area with regards to rent levels, amenities, and the like. Doing this allows you to collect a sizable check every month without any work beyond preparing the room for occupancy.^[1]

   • The more private the room, the more you will be able to charge for rent. If you have a separate basement apartment with a kitchen and a bathroom, you will be able to charge much more than you would if you only have a spare bedroom.
   • Only rent rooms to responsible, trustworthy tenants who will pay you on time and respect your property. It's a good idea to screen your tenants by performing background and credit checks, as well as asking them to provide a reference from a previous landlord and a copy of a recent pay stub.
   • Services such as Airbnb can help connect you with travelers and others looking for short-term rentals. This can enable you to charge a significantly higher rate per night than if you rent the room by the month.
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   Make money online. There are tons of ways to make money on the internet nowadays, but most of them require at least a little bit of work. If you commit yourself to developing your brand, you might really hit it big.^[2]

   • Start a website or blog. If your site becomes popular and gains a lot of traffic, you can make a lot of money by selling advertising space. If writing isn't your thing, you can also create video content.
   • If you are knowledgeable about any topic whatsoever, you can try selling informative content, like ebooks, webinars, or instructional videos. Whether you can teach people about mathematics, juggling, or a foreign language, chances are you can think of something useful to share!
   • If you're willing to do more traditional work, you can also make money online by freelance writing or becoming a virtual assistant. Try searching online for job boards that are devoted to freelance and/or telecommuting work.
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   Earn royalties. If you're willing to do a lot of work upfront for long-term payments, you might consider applying yourself to writing a book or a song or inventing a product. Your chances of hitting it big are small, but if your creation becomes popular, you can keep earning income from your work without having to do anything else.^[3]

   • It's also possible to buy the rights to existing royalties at auction, but you should make sure to do thorough research to make sure it will be worth the investment.
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   Get paid for short-term jobs. If you don't like the idea of a regular job, but you are willing to spend a few hours a day working online or visiting different locations around town, you might be able to make a fair amount of money. Before signing up for any job, make sure you understand exactly how you will be paid.^[4]

   • Participate in mock juries or focus groups. Some of these might require you to appear in person, but others can be done online. You'll get paid for listening to a presentation and sharing your thoughts.
   • Online surveys are quick and easy ways to make a few bucks. There are plenty of companies that offer paid surveys, including SurveySavvy and SurveySpot.
   • If you like surfing the web, you might enjoy getting paid to test new websites and share your opinions. Sites like UserTesting.com provide lots of opportunities.
   • Mystery shopping is a great option for you if you love to shop and eat out at restaurants. All you have to do is frequent a business, act like a normal customer, and then share some details about your experience with the company. Depending on the job, you might be paid and/or you might receive free goods or services from the business. You can look for opportunities through individual business or search for listings through organizations such as the Mystery Shopping Providers Association.^[5]
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   Sell stuff. If you have unused items, you can try selling them on sites like eBay, Amazon, or Craigslist. If you're crafty, you might want to consider selling your homemade items on Etsy or a similar platform.^[6]

   • If you're willing to put some effort into procuring items for sale, you may be able to make quite a bit of money buying and selling. The secret is to look for bargains at places like flea markets, garage sales, and second-hand stores, and then sell the items for more online. This works well for items like books, which are relatively easy to store and ship.
   • If selling online isn't for you, hold a garage sale or look into selling at flea markets and craft fairs in your area.
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   Beg or panhandle. When all else fails, you always have the option of simply asking for money. If you do this, you'll probably want to do it on a busy street or some other safe public place that receives plenty of pedestrian or car traffic. You might actually be able to make a decent living by panhandling, although it will require many hours of your time in potentially unfavorable weather conditions.^[7]

   • If you're going to panhandle, your image is everything. You should look like you are in need so that people will want to help you, but you should not look dangerous or threatening in any way.
   • You might be more successful if you can entertain passersby by playing an instrument, singing, performing magic tricks, or putting on a performance in some other way, but you should be aware that money earned in this manner is taxable by the US government, while money earned by begging is not.

Method 2

Making Money from Money You Already Have

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   Become a moneylender. If you already have some extra cash on hand, you can earn even more by lending it out and charging interest on your loans. There are many companies, the largest of which are Prosper and Lending Club, that match prospective lenders with prospective borrowers. Although the industry has been shifting away from private investors, there are still opportunities to be had.^[8]

   • If you wish to become a money lender, be sure to abide by any and all applicable laws in your area.
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   Earn interest. Instead of letting the money you have languish in checking account (or under your mattress), put it into an interest-earning account, like a money-market account, a certificate of deposit (CD) account, or a 401k. These types of accounts pay a higher rate of interest than normal savings accounts. Ask a professional at your local bank for help placing money in these types of accounts.^[9]

   • Note that these types of accounts may require a minimum balance to start generating interest. They also may require a long-term investment, during which time you will not be able to access your money without paying a penalty.
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   Invest in the stock market. One way to make money without working is to play the stock market to your advantage. Stock trading is by no means risk-free, but if you're smart, careful, and a little lucky, you can stand to make lots of money on the stock market. Whatever investments you choose to make, never invest any money in the stock market that you can't stand to lose.^[10]

   • Low-cost e-trading platforms are ideal for investors who don't want to pay to have their investments managed for them.
   • There are tons of different investment strategies out there, so do your research and find one that works for you. No matter what your strategy, it's important to keep a diverse portfolio and stay up-to-date with changes that happen in the market.
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   Invest in a business. Investing in a successful business is a surefire way to become wealthy, although finding such a company is more challenging. If you are lucky enough to find a business that you really believe in, make sure to do your research before investing.^[11]

   • It's very important that you have faith in the leadership of the company. Even if the concept is great, a bad CEO can destroy the business.
   • You should have a very good understanding of the company's expenses and potential profits, as well as of their brand and image, before you invest.
   • Make sure there is a clear contract that outlines your rights. You should also understand what your options are for exiting the agreement.
   • Don't invest all of your money in one business. If it goes south, you could be left with nothing.
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   Flip real estate. "House flipping" refers to the process of buying cheap, run-down property, increasing its value (either by adding improvements or simply by waiting for the market to perk up), and then re-selling it for a profit. With smart choices and practical know-how with regards to home repair, you can stand to make thousands of dollars per flip, although unexpected expenses and a bad real estate market can leave you in the red.^[12]

   • Make sure you really understand the local market before investing in real estate, or you may lose money when you try to sell.
   • Unless you have enough money to hire contractors to do all of the work for you, flipping real estate will require a tremendous amount of work. Even if you do hire others, you will likely need to supervise them.
   • If you don't have the money to invest in real estate, there are lots of other things you can flip, including furniture and cars. Anything you can buy cheap, fix up yourself, and sell for a profit, can be flipped.^[13]

Method 3

Borrowing Money

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   Get a payday loan. If you already have a job, but you need some extra cash before your next payday, you may benefit from a payday loan. These are short-term loans that are offered for relatively small sums of money, either online or at brick and mortar locations.^[14]

   • Be cautious with these kinds of loans, as they carry extremely high interest rates. They are best used for absolute emergencies only.
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   Take a cash advance on your credit card. Many credit card companies will send you checks in the mail that you can write for cash or give you the option of withdrawing money from an ATM using your credit card. Like payday loans, cash advances typically come with high interest rates, which makes them a costly option.^[15]

   • Be sure to read the fine print carefully so that you understand exactly how much this kind of lending will cost you.
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   Get a bank loan. Banks and credit unions offer a wide variety of loan products. Some loans, like home equity loans, require you to offer your personal assets as collateral if you are not able to repay the loan. If you do not have a home or other assets, you may still be able to qualify for a personal loan, depending on your financial circumstances.^[16]

   • Be sure to compare rates terms at multiple institutions before you commit to a loan. Credit unions often offer lower interest rates than banks.
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   Borrow from friends or family. Borrowing money from people you care about can be complicated because your relationship may be at risk if you can't pay the money back. If you choose to borrow from friends or family, be sure to be honest with them about how long it will take you to pay them back.

Method 4

Getting Money With No Effort

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   Inherit money. If you have a wealthy, elderly relative, you may receive money when the time comes to read his or her will. Of course, if your relative regards you fondly, s/he is more likely to write you into the will, so try to stay on your elderly relatives' good sides. Hopefully, this goes without saying, as treating the elderly with love and respect solely in an attempt to get their money is obviously incredibly cruel and cynical.
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   Win the lottery. Lottery tickets generally cost just a few dollars and are available at most grocery and convenience stores, so this is one of the cheapest, least work-intensive ways of making money. However, you're much more likely to lose money by playing the lottery than to win a big prize.

   • Always expect to lose the money you spend on lottery tickets. While it's true that it's impossible to win the lottery without playing, you should never count on it as a means of supporting yourself. To put things in perspective, your odds of winning a Powerball jackpot in the United States are about 1 in 200 million.^[17]
   • Many people use this method of earning money by setting aside a few dollars every week or month. For example, instead of buying coffee everyday for a week, buy it six days a week or brew coffee at home. This way, the extra money can go to lottery tickets and even if you do not "win it big" your life is still perfectly normal.
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   Win a contest. Much like the lottery, a contest or sweepstakes can completely change your life over night. Your chances for winning are not very high, but it does happen. The more contests you enter, the more likely you are to win money and other valuable prizes.^[18]

   • The advantage of contests over the lottery is that it is often free to sign up. Try searching online and on social media for free contests and sweepstakes that you can enter. You can also learn about contests by paying attention to advertisements for them on products while you're out shopping. Many of them don't even require a purchase for entry.^[19]
   • If you're serious about entering as many sweepstakes as possible, try searching online for a sweepstakes newsletter, like SweepingAmerica.com or SweepSheet.com. This might help you keep on top of the newest contests out there, so you don't have to spend hours of your time searching.
   • There are lots of sweepstakes scams out there, so proceed with caution. You should never be required to pay a fee or give a credit card number to collect winnings from a legitimate contest.^[20] You should also be very cautious about how much personal information you provide when signing up for sweepstakes.

Tips

• Unless you are extremely lucky, you will probably have to do some amount of work to make money. Try finding something you enjoy so that you won't mind working as much.
• Get a mentor who is financially mature and learn from him or her.

Warnings

• All types of investments can backfire, so don't invest more than you can afford to lose.
• Avoid gambling if you are prone to addictive behavior.
• Beware of get rich quick schemes. If it seems too good to be true, it probably is!