How to Be a Money Magnet

Paul worked with me ten years ago. We spent eight hours every day contacting business owners to hawk our employer's products and services.

We also spent an additional four hours together every day at our part-time job.

Paul helped me land that part-time job and wanted to know if I wanted additional work at another employer or two. He wasn't an employer, nor was he a job placement specialist. Paul was a money magnet - to the point where he was almost able to be paid to sleep every night.

Are you a money magnet like Paul? You can be. It's not easy, but with a little planning, you too can be a money magnet.

Part-time job. It's the old stand by for anyone looking to be a money magnet, and my friend Paul knew it well. Consider this: if you only work an additional 16 hours per week, you will have worked an additional 832 hours during the course of one year. That almost equates to an additional 21 weeks of work! If you want to be a larger money magnet and can squeeze in an additional four hours per week, you will have earned a half year of wages!

Overtime. Another stand by for money magnets is to work more hours at their current employers (of course, these money magnets are hourly employees). Instead of working eight hour days, Paul suggested to me, consider working ten hour days. Two extra hours per day fits most schedules and the results are dramatic: these ten hours of time-and-a-half overtime equate to 15 hours of normal pay.

Credit cards. Becoming a money magnet with your credit cards? You bet. Money magnets only sign up with credit cards that offer rewards (travel miles, gas, money, etc.). In Paul's case, he went grocery shopping with a friend and paid for it with his cards. He also paid with his cards when he was out with friends. Of course, everyone paid this money magnet, but Paul received rewards above and beyond what he would have earned if he was only paying for himself. It should also be mentioned that he paid for every single item with his credit cards - and paid them in full every month. As a result, he rarely had to pay for gas, flights, hotel rooms or other items he earned rewards for.

Sell stuff. There are yard sales, garage sales and the like almost every weekend. If no one you know is holding one, look in the paper for listings. Then call them and ask if you can join in by selling your stuff with theirs. Money magnets like my friend Paul also sell stuff at consignment shops or consignment malls - making sales without having to be there! And, of course, all money magnets should consider selling stuff on eBay.

Trials and studies. Contact your local teaching hospital and sign up for their list of upcoming trials and studies. Sure, you'll pass on some, but some enterprising money magnets partake in at least one per month - and even get paid to have people watch them sleep! My friend Paul took part in two studies per month, making around $400, but had so many other money magnet ventures that he couldn't devote hours to the sleep studies. If you do try this route, make sure you know the risks before participating in any study or trial.

Associated Content. The good people behind Associated Content offer money for articles. Now, they won't pay top dollar like Time or Newsweek, but they do pay - and pay quickly. As long as you can write well, you can make some extra money by writing content. The bonus for money magnets who are aspiring authors is simple: you get paid to perfect your craft. After all, true money magnets don't work for free. If you write enough quality content that gets accepted, you can generate a nice side income. Paul didn't show me that one - I was lucky enough to stumble upon it on my own.

It isn't easy, but like my friend Paul, you, too can become a money magnet and make money during almost every waking moment.