4 Smart Ways to Earn an Extra $2,000 or More in 2023

A smiling female teacher instructing a young girl playing the trumpet.

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A new year brings new opportunities.


Key points

  • Although that may not seem like a lot, you can do a lot with an extra $2,000.
  • A review of your monthly budget is a great place to start.
  • Don’t underestimate yourself. You probably have skills that others would pay to learn.

Granted, $2,000 may seem like small potatoes, but earning that much in 2023 can help you accomplish the following:

  • Stuff your emergency fund. That way, the next time your car breaks down or you have surprise medical bills, you don’t have to worry about where the money is coming from. Better yet, you don’t have to put it on a credit card.
  • Create a “getaway” fund. There were times in our young lives when my husband and I couldn’t afford to go to the movies if we wanted to. There was no way to dine out and holidays were out of the question. I’m a big proponent of setting aside some money to spend on yourself. You might not be able to fly to a Caribbean island when you need a break, but what about an hour-long massage, a coffee with a friend, or a night out? a day trip to a city you’ve never visited before? We all need something to look forward to, and while $2,000 won’t get you around the world, it will help cover the times when you need some pampering.
  • Put it away for the holidays. Seriously. Can you imagine going into the holiday season without worrying about how you’re going to find money for gifts or entertainment?
  • Invest it. Before you roll your eyes, stay with me here. Let’s say you’re 40 years old and you invest $2,000 in a Roth IRA with an average annual return of 7%. In 10 years it will be worth over $3,900. If you can add $100 to it every month, you’ll get $20,500. Compound interest is truly a thing of beauty.

With all that in mind, here’s a look at how you can save that extra $2,000 next year.

Divide it

The thing about making money is that you don’t have to do it all at once. All the money you save is money in your bank account, and it can add up quickly.

1. Change insurance company

No one hates looking like an ad more than I do, but switching insurance companies can really save you hundreds of dollars every year. As I move often, I don’t always have access to the same insurers. This means that I change insurance companies more than the average bear and am continually surprised at how much I can save by shopping around. As long as your credit score is healthy and you don’t have a history of complaints, it’s relatively easy to get a lower rate.

Consider this:

  • The average auto insurance policy in the United States is $2,875 per year.
  • The average home insurance policy costs $1,788 per year.

If switching insurance companies only saves you 10%, you’ll have $466 more.

2. Cut subscription services you don’t use

A year or two ago, I deleted all the subscription services that my husband and I were no longer using. Frankly, it was embarrassing how much we were paying for month after month. Premium channels, a beauty box for me, a grooming box for him and sports classes that we rarely attended. To be honest, I felt pretty good about myself for a while there.

Then, last week, after all the dust from moving to a new state had settled, I combed through our budget. Dang if there weren’t a bunch of new subscriptions. I blame British television. It’s so good. And you better believe I’ve cut subscriptions to everything we’re not currently watching.

The savings may only be $20 per month, but it’s $240 per year.

3. Share a skill with the world

Think about what you can do. Whether it’s playing a musical instrument or speaking a foreign language, even though it may seem ordinary to you, there are others who would love to learn this skill. Why not share what you have with the world by signing up as an online tutor?

Internet job sites, including Indeed.com and Ziprecruiter.com, regularly list remote tutoring opportunities.

Let’s say you tutor for two hours a week at $25 an hour. Annually, that’s $2,600 more.

4. Never buy without apps

Smartphone apps have made it easier than ever to save money. For example, the Flipp app offers digital coupons from over 2,000 stores, and Ibotta is a great place to start if you want to save money on groceries.

How much you earn and save with coupon apps matters less than how you spend that money. After all, we’ve all heard of millionaires who lost everything and teachers who were smart enough with their money to bequeath millions to charity.

At the end of the line

Even if you only start with an extra $2,000 in your pocket in 2023, that’s a good place to start.

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