For most of us, $500 is a lot of money. It could mean a weekend away, paying an emergency car repair bill or maybe funding your next shopping spree. Or it could give you an extra financial safety net, giving you the cash you need to set aside for a rainy day.
So if you want to know how to make $500 fast, here are 11 side hustles, hacks and money-making opportunities to bring home an extra $500 as quickly as possible.
How it works: Canadian banks regularly try to entice new customers with cash welcome bonuses. To qualify, you’ll typically need to open a new account and perform a specific transaction, such as setting up a direct deposit to that account.
How long it takes to earn $500: Less than an hour. But you’ll need to wait for your application to be processed, so the exact amount of time until you get your funds will vary depending on the bank.
Is it online? Yes.
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How it works: Get-paid-to platforms pay users to complete tasks like completing surveys, watching videos, playing games, testing apps or signing up for offers. Each task rewards points or cash, which you can typically redeem via PayPal or gift cards.
How long it takes to earn $500: Earning $500 varies by platform and effort because some platforms pay more per task or have more opportunities available, while others offer smaller payouts or fewer tasks. For example, Swagbucks says you could earn $1 to $250 per offer. Realistically though, using a GPT platform could take you weeks or months to earn $500. If you need $500 ASAP, combine this method with other strategies on this list.
Is it online? Yes, you can use your computer or phone to start earning.
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How it works: There are several online car dealerships that make it quick and easy to sell your car online. You can fill out an online form to get an offer for your vehicle, get it picked up or drop it off at your nearest dealership to have it inspected and then get your cash fast. Alternatively, you could sell your car privately by listing it on an online marketplace.
How long it takes to earn $500: As long as it takes to sell your car. It could take 24 to 48 hours if you’re selling to an online dealer like Clutch, but potentially longer if you sell privately.
Is it online? It can be. If you sell to an online dealer, they can pick up your car from your home.
How it works: Multiple legit platforms pay everyday people to help train their AI models. You can get paid to annotate text, categorize images, transform text into audio and assess AI chatbot responses.
How long it takes to earn $500: Pay rates range anywhere from $5 to $150 per hour, so it could take as little as a few hours. For most people, however, it could take at least a month.
Is it online? Yes.
How it works: This side hustle involves staying in someone else’s home while they’re away. You’ll need to take care of their property and do basic maintenance tasks like checking the mail, watering plants, cleaning, keeping the house secure and (in many cases) looking after pets. In return, you’ll get paid a nightly rate.
How long it takes to earn $500: Varies depending on your rate, but allow a few days.
Is it online? No.
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How it works: If you’re a talented writer, freelance writing is a flexible side hustle. You can use freelance marketplaces to connect with clients looking for people to write blog posts, articles, marketing materials and more.
How long it takes to earn $500: It depends on your hourly rate. According to Indeed, the average hourly rate for a freelance writer in Canada is $32.89, which would mean it would take you a little over 15 hours to make $500.
Is it online? Yes.
How it works: There are plenty of people out there who don’t have the time, inclination or physical ability to take care of important outdoor seasonal jobs around the home. That’s where you come in — you can offer services like weeding gardens, mowing lawns, raking leaves and shovelling snow in your neighbourhood to make the extra $500 you need.
How long it takes to earn $500: It depends on your location, the tasks involved and how much you charge. In Toronto, for example, some people charge a minimum of $30 per hour, while others charge a minimum of $75 per hour. It could take roughly 7 to 17 hours or more.
Is it online? No.
How it works: Got a spare room or vacation home you’re not using? You could make passive income by renting it out to vacationers through Airbnb. Alternatively, other rental platforms allow you to rent out your space for film and photo shoots, private parties and business meetings. And if you’ve got a car, you could also consider renting it out to other drivers through a platform like Turo.
How long it takes to earn $500: Potentially as little as a day.
Is it online? Not completely — there’s some real-world work required.
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How it works: Rideshare apps like Uber allow you to use your car to make extra cash. People who need to get from A to B book a ride through an app, and you then pick them up and drive them where they want to go. Payment is handled through the app.
How long it takes to earn $500: If you assume an average hourly rate of $20, it will take 25 hours.
Is it online? No.
How it works: It might not be a particularly glamorous or exciting way to make $500 fast, but it can be highly effective. Sit down and work out where every last cent of your paycheque goes each week. Identify areas where you can cut back, and put together a weekly budget that you can realistically expect to stick to.
How long it takes to earn $500: You could save an extra $500 in just a month.
Is it online? Yes.
How it works: Get paid to do other people’s grocery shopping for them and deliver it to their homes. Shopping apps like Instacart allow customers to place their orders, which you can then fill and deliver.
How long it takes to earn $500: The earning rate can vary greatly depending on where you live. As a general guide, expect it to take at least a week.
Is it online? No.
The best way to make an extra $500 a month is to find a lucrative side hustle — but the right option for you will vary depending on factors like what skills or possessions you have and how much time you have to devote to your money-making venture.
For example, if you’ve got a spare room you don’t use, renting it out can be a great way to provide passive income. But if that’s not an option for you, compare other side hustles that are a good fit for your skills and schedule. That could mean freelance writing, doing odd jobs as a handyman, house sitting, dog walking or Uber driving.
It’s all about finding the highest-paying option that works for you, so there might be a bit of trial and error involved before you decide on the best method.
Making $500 online in one day for free can be challenging, especially for people without specialized skills, a large audience or experience. If you have one or more of these, you can use freelancing platforms such as Fiverr or Upwork to offer high-paying services like marketing, accounting, graphic design or teaching. That being said, you may have to pay to advertise your services or apply for jobs.
Those with a large social media following can consider content creation instead. Create YouTube videos to earn per view, sponsored Instagram posts promoting a brand’s products or your own blog with relevant ads. If you don’t already have the necessary equipment, like a laptop or camera, this won’t be a free option for you.
Perhaps the simplest way to make $500 fast is to take advantage of banking welcome offers. Many banks offer cash bonuses to customers who sign up for a new account and perform a specific transaction, so it’s a quick and easy way to earn hundreds of dollars.
But there are several other ways to earn an extra $500 quickly, including working as a freelancer or rideshare driver, or doing outdoor seasonal work. The right side hustle for you depends on your skills, schedule and the amount of spare time you can devote to earning extra cash.
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