We are joined by personal finance expert and O Magazine finance editor Farnoosh Torabi, who shares three of her favorite free apps that can help you make hundreds of extra dollars.
Rent Out Your Car
The app Turo links people who need to rent a car for a short time with cars that are sitting idly while we are at home, at work or away. The company offers a $1 million insurance liability policy, plus round the clock roadside assistance. Users of Turo can make up to $720 per month.
Be A Company’s Eyes & Ears
Gigwalk is an app that assigns simple tasks – usually from marketers, retailers and brands – to individuals in their neighborhood that can last for just a few minutes to a couple of hours. Sample tasks include, taking photos of how products look in stores or reporting back on how many people attended a company’s event. Users of Gigwalk make between $3 and $100 dollars per task.
Turn Your Spare Change Into Major Capital
The app Acorns helps people who use their phone to pay for items save money. If you spend $3.15 on an item, the app round up the cost to $4 and then invests the .85 cents into a diversified investment portfolio. The types of portfolios are based on your age and what level of risk you want with portfolio. The app can also be linked to your debit card.
Farnoosh notes that saving just $7 dollars a month in loose change adds up to over $600 in only 3 months.