Money Matters: Make money off of your home

October 20, 2017 01:30

Sponsored by NEFE

Owning a home is the largest investment most people make in their lifetime. And once you make the purchase, there are plenty of expenses to go with it, including the mortgage, property taxes, insurance, utilities, maintenance and more. But if you own your home and perhaps some property along with it, there are ways to make some extra money on the side, money you can use to help offset those monthly expenses.

As MarketWatch suggests, if you have space on your lot, you can rent it out to "tiny house" dwellers, a growing movement around the country. If you have a photogenic home, you can rent it out to advertising agencies for advertising photos or television commercials. You can rent out rooms via Airbnb. If you have an empty garage or a seldom-used parking space, you can rent it out. And if you have extra space, you can rent it out for storage. There are websites to help facilitate all of these types of rentals, but be sure to consult local ordinances to make sure these ideas are allowed in your area.
To help your readers/listeners/viewers learn more about earning extra income, talk with credit counselors in your area. They can offer suggestions on ways to make extra income to help defray expenses. You can also search websites that specialize in passive income and look for users in your market that you can contact for an interview.

Sponsored by the National Endowment for Financial Education
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Krissy Clark of Marketplace entered the 2016 NEFE/RTDNA awards contest with a series of reports on the current state of welfare in the United States.