There's nothing better than getting cash without putting in any work to earn it. This may sound like an unachievable feat, but there are real ways to end up with a little more money in your pocket without even trying. Here are five tips to earn you more cash without trying, sponsored by American Express.
Boost your investment portfolio
If you play it conservatively, placing funds in the stock market can be a strategic and relatively safe way to earn money without doing any work. While the market can swing up and down in the short term, investing in an index fund — a passive form of investment that simply tracks the performance of a given index — is a stable way to see small returns over time.
Sell stuff you don't want or need
Just think about all those electronic devices, gadgets and video games collecting dust in your space. Selling unwanted stuff on online marketplaces and auctions can be a hassle-free way to clear some room while earning some dough in the process.
Use a cash back credit card
Switch out your credit card for one that provides a good rewards program. For example, with the SimplyCash Preferred Card from American Express you can earn two per cent cash back on every purchase made with the card. That's quite a lot of money over time.
Rent out a spare room
You could be sleeping on your extra income. You can match with tourists and business travellers looking for a place to stay and rent out a spare room in an online community. Look into the rules and regulations around short-term lodging in your area -- you could find that this is a great way to make some extra money to help you pay down that mortgage.
Open a high-yield savings account
These days, the interest earned on a chequing account doesn't amount to much, but opening up a high-interest savings account can deliver a rate that's more attractive. Storing your money in this account can help save a bit more than you would by using a traditional savings account.
Save more this summer by switching over to the SimplyCash Preferred Card from American Express, where there's no limit to how much cash back you can earn!
*This piece is sponsored by American Express.