Find or Free Up $50 a Week

Practical, realistic ways to free up or earn an extra $50 a week — from trimming a recurring expense to a small side activity — so there's something to invest.

There are generally two ways to come up with an extra $50 a week: earn a bit more, or spend a bit less. Neither has to be dramatic — the goal is finding one or two changes you can actually sustain, not overhauling your entire budget or schedule.

Small ways to earn a little extra

A few common examples people use to bring in modest extra income:

• Walking a neighbor's dog or pet sitting
• Babysitting or occasional child care
• Tutoring in a subject you know well
• Yard work, raking, or seasonal outdoor help
• House sitting while someone travels
• Freelance or technical work in a skill you already have
• Selling a service you're good at (photography, writing, design, repairs)

Gross income isn't the same as what you keep

Side income is generally taxable, and — depending on how it's earned — may also involve self-employment tax and expenses (supplies, mileage, a platform's fee) that reduce what you actually take home. Before assuming a side activity nets you a full $50 a week, account for its costs and its tax treatment; the IRS gig-economy resources below cover the general reporting rules. This page does not suggest or condone leaving side income unreported — all income is generally taxable, including occasional or cash income.

Freeing up money you're already spending

Sometimes the easier $50 a week is already in your budget, just going somewhere else:

• Canceling a subscription you no longer use
• Reducing one recurring discretionary expense (a delivery habit, a streaming tier, dining out)
• Directing part of a raise toward savings before you get used to spending it
• Directing part of a bonus, tax refund, or other windfall toward the goal

Whichever path you take, the amount only helps your retirement plan once it's actually directed into an account and invested — see Invest $50 a Week for Retirement for how to set that up, including the IRA rules that may apply if the destination is an IRA.