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4 unusual ways to earn money

By WTOP Staff

Have you taken a hard look at all of your possessions and considered ways to use those items to bring in some money? If some of your belongings are collecting dust in the garage or otherwise going unused, then it might be time to take advantage of the booming “sharing” economy, which will let you save and earn money in new ways. Consider these four ways to rent out your items:

1. Rent out your car through FlightCar and also avoid airport parking fees.

Travelers are familiar with the dilemma of finding a ride to the airport or racking up parking lot fees. Many opt to park at the airport and thousands of cars are left in long-term parking every day while others pay to rent out vehicles on their trips. When FlightCar founders Kevin Petrovic and Rujul Zaparde realized this massive inefficiency, they decided to launch a business that made use of outbound travelers’ unused cars.

FlightCar provides an online marketplace where travelers can make their cars available for rental when they go out of town. In case you are leery of letting a stranger drive your car, rest assured that FlightCar pre- screens every renter and insures each rental up to $1 million. Approved members renting through FlightCar get the lowest rental rates guaranteed, with free insurance, and free extras such as GPS and car seats. Online registration, drop-off and pick-up can be easily scheduled in just a few clicks.

Petrovic estimates that FlightCar has saved its members nearly $1 million in parking costs and more than half a million in rental costs since its inception less than two years ago. That’s great motivation to try out their service, particularly for frequent flyers.

2. Rent out your parking space with JustPark.

You may be surprised to discover there is a thriving market for parking space rentals on JustPark.com. High demand spaces tend to be near stadiums, airports, train stations and central spots in towns and cities. Space rental is popular both among shoppers and day trip travelers who want to pre-book an affordable space in lieu of shelling out money to a parking garage. Many commuters have also used JustPark to find affordable parking near their offices.

In case you are wondering what your parking space is worth, property owners can use the JustPark pricing tool to determine a recommended price, based on your area and demand. For example, the average spot in Washington is rented out at $12.50 per day, though the rate is higher near points of interest. In Manhattan, the average spot is rented out at $25 per day, and $15 per day in Brooklyn.

Whether you have a vacant spot for part of a day, for example, during work hours, or for extended periods of time while traveling, you may be able to earn money off of it.

3. Rent out your bike, skis or snowboard with Spinlister.

Since you can’t be on the bike trails or slopes all the time, why not rent out your unused gear to other sport enthusiasts? Spinlister.com allows you to rent out your bike, skis or snowboard instead of letting them sit unused in your garage or shed. Spinlister collects payment from the renter and sends out a check to the lister, or sends payment via Paypal, every two weeks.

4. Rent out almost everything else with Goodshuffle.

Goodshuffle.com is an online marketplace that allows you to list and rent out items that are probably collecting dust in your garage. The site currently covers the Washington metropolitan area with plans to expand nationally in the future.

Goodshuffle co- founders Andrew Garcia and Erik Dreyer were inspired to create the site when Garcia was looking to rent out some DJ equipment from a former business venture and was concerned about the risk of renting high-value equipment to complete strangers. The site features a patented check-in and check-out system that helps keep track of an item’s location, adding an important layer of security to the renter.

Popular rental items on Goodshuffle can shift with the seasons. Camping gear was in high demand this summer as well as tables, canopy tents and chair packages for special events like birthdays, BBQs and festivals. Bike toolkits, kitchen gadgets, garage tools, vacuum cleaners, pressure washers, speakers and sound equipment are frequently listed. During the winter months, snow removal gear is popular as are luggage and air mattresses for those traveling over the holidays.

As you start to take inventory of what rentable items you own, think outside the box when surveying your goods. Consider renting out your car, parking space, bike or camping gear to earn a little extra money. With a little effort, the sharing economy can help you build up your savings.

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4 Unusual Ways to Earn Money originally appeared on usnews.com

Don’t Settle for Student Loans to Pay for Online Education

By WTOP Staff
Online college programs are becoming a more popular choice for prospective students, with one study finding that more than 6 million students enrolled in at least one online course in fall 2015. The popularity of these courses can be attributed in part to their flexibility with working adults' schedules, students' ability to progress more quickly through online programs and, oftentimes, cheaper tuition. [See 10 low-cost online bachelor's programs for out-of-state students.]Online degrees can be beneficial to many college students, but some studies have shown online learners complete their programs at lower rates than students at traditional brick-and-mortar campuses. Individuals with student loans but no degree comprise two-thirds of defaulted borrowers. Though these numbers are not encouraging, just like for traditional programs, there are ways to reduce how much you'll need to borrow for an online program to ensure you won't become one of these statistics. Don't just settle on borrowing student loans to cover the whole cost of your program and living expenses. Instead, start thinking about how to cut costs and cover your balance in different ways, such as the following. -- Grants and scholarships: Even though you are taking an online course, you can still apply and receive grants and scholarships. But your first step should be to complete the Free Application for Federal Student Aid, commonly referred to as the FAFSA, which will allow you to receive a Pell Grant if your expected family contribution is low enough. The EFC criteria and award amounts are adjusted annually, but the 2017-2018 academic year awards range from $606 to $5,920, which could significantly lower the amount you borrow annually. Your next step is to apply for scholarships. You can start by checking online scholarship search engines, such as the Salt Scholarship Search, College Board's BigFuture and Peterson's. But don't forget to take advantage of local organizations and your school's financial aid office. Both may offer scholarships that you can't find with a national scholarship search. [Review these 10 sites to kick off your scholarship search.]For instance, organizations like the Elks Club, Knights of Columbus or the Rotary Club typically offer scholarships annually to local students. Just because you're going to school online doesn't mean you're ineligible. Visit your local library for scholarship listings, and ask around town. You might be surprised how many local organizations offer scholarships. While these scholarships typically aren't large, every little bit counts. Each dollar you receive in a scholarship is a dollar you don't have to borrow and pay interest on. -- Work-study: Another option for online students may be work-study awards. Not all students enrolled in online programs are eligible, but students at some schools -- including, for example, SUNY Empire State College and Liberty University -- are. Work-study awards are not given upfront like scholarships and grants. In most cases, they are an offer to earn up to the awarded amount if you secure an eligible work-study job. While there is a misconception that all work-study jobs must be on campus, students can work for off-campus, nonprofit or public employers as long as the work is in the public's interest. You may be able to work for a for-profit employer if the job is relevant to your course of study. No matter who the outside employer is, it will need to have an established agreement with your college for you to receive work-study funds. Remember, to be eligible for federal financial aid, you must be enrolled and pursuing a degree or certificate. If you're not working toward a credential, Pell Grants and work-study won't be option, but you may still be able to take advantage of private scholarships -- just be sure to read the eligibility criteria carefully. [Explore what to know about financial aid in online programs.]-- Pay as you go: One of the great benefits to enrolling online is the flexible schedule, which can allow you to complete your college coursework around your responsibilities. But prospective students often overlook using their part- or full-time job earnings as an option for paying for college. Almost 80 percent of college students in 2015 worked at least part time while attending classes, according to the National Center for Education Statistics. By budgeting and thinking strategically about your college costs, you can likely reduce your dependence on student loans by paying a portion out of pocket. Many -- but not all -- online programs are less expensive than traditional programs and often have shorter payment periods. Six, eight or 10 weeks are common course durations. Because of the frequency of payments in an online setting, you may be well-placed to pay as you go and possibly avoid borrowing altogether. Attending college online and avoiding student loans may be challenging, but if you are willing to put in the effort, you can limit the amount you need to borrow. More from U.S. News Q&A: Understanding Student Loan Discharge Eligibility Student Loan Refinancing Isn't Right for All Borrowers
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