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How to make thousands from home

By Melissa Cortes, Yahoo!7 Moneyhound Updated December 5, 2013, 9:00 am

Are you wishing you had a little extra to add to your Christmas savings? Or are you simply looking for a way to supplement your income all year round?

Check out 10 ways to make thousands of dollars from the comfort of your own home. You can even increase your earnings without ever having to step outside—so agoraphobics, listen up.

Related: Steps to saving your first 100k

1. Rent out your parking spot

If you have a parking spot, you could be sitting on a potential goldmine without ever realising it. In city spaces, a parking spot can be a very valuable commodity and you could rent yours out to someone who commutes and needs somewhere to park while they work every day. According to Lifehacker, even the cheapest inner-city parking spots can go for around $40,000.

2. Become a virtual assistant

The best assistants are organised, polite and always ahead of the game – and you don’t need to be in the same room to be a brilliant assistant. As long as you have the necessary skills and the right technology at home, you could be a virtual PA and earn somewhere between $20-$45 an hour.

3. Start proofreading

Help other people ensure their web content and professional communications are in perfect condition by setting up a proofreading service from home. If you're good at your job, you can charge around $40 per hour.

4. Start translating

Got an ear for dialects? Able to speak and write in more than one language? A job translating from home could be the perfect way to boost your bank account. The average yearly wage for a full time translator in Australia is $50,521, according to PayScale.

Related: Earn $500 in 20 minutes

5. Offer language lessons

Besides translating, you could also put those language skills to good use by offering private lessons. The best way for people to learn a new language is by being able to practise and you could earn around $15-$45 an hour for each lesson.

6. Get baking

Love to bake? There's a big trend for homemade cakes and goodies at the moment, and if you're a dab hand in the kitchen you could become a real ‘breadwinner.’ Set up a stall at local markets to sell your wares for anything from a few dollars a slice to hundreds of dollars for a boutique cake.

7. Take on small tasks

To make the most of your free time without having to commit to a second career, take a look at sites like Airtasker. Everyday tasks and errands—such as car washes, deliveries and more—are outsourced to reliable workers. If you have a unique skill, you could quickly earn extra income.

8. Invite holidaymakers

Spare bedrooms can be an excellent way to boost your income. Simply set up an account for a holiday booking site such as Airbnb and you could make money from holidaymakers who are looking for somewhere to stay in your city.

Related: Weird places to hide money around the home

9. Pick up the phone

The average, full-time call centre salary is around $50,000 a year. If you can afford to put the hours in and you have a polite phone manner, you could stand to make some good money working remotely for a call centre.

10. Make clothing alterations

If you're handy with a needle, setting up an alteration service could be a really handy money-spinner. Whether you're taking in dresses that are too loose or repairing rips and tears, you can expect anything from $10 for a minor repair to a couple of hundred dollars for a wedding dress alteration.

With your new earnings, make your savings do some of the hard work for you. Compare savings accounts and choose one that will offer you the most when it comes to interest.

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