Looking to pay off debt or create more breathing room in your budget? How about saving up for a dream vacation? Taking on a side gig can help you do all those things. The best part about being able to make extra money in addition to your day job? By using time, skills, and belongings you already have, you may not have to make much extra effort.
January 11, 2021 in Learn
Think of the clothes hanging in the back of your closet that you never wear or the electronic items you don’t use anymore. Maybe you have a lawnmower sitting idle in the shed or rollerblades you haven’t taken out for a while. You can cash in on things you no longer need or rarely use by selling or renting them out online.
Whenever you have a few spare minutes, rather than idly scrolling through your phone, put your free time to good use. Sign up for survey sites where you can earn cash and gift cards just by answering paid surveys or watching test video ads online. Keep track of how long it takes, on average, to complete the task so you can identify the most lucrative uses of your home time.
Check all of your existing credit cards: many reward programs are included with standard cards, and you may have been racking up points all along that you haven’t redeemed.
You can earn rewards when shopping for online purchases with a cash back or rewards credit card. This can help you earn cash back or points on items you would have bought anyway. In addition to using your points on future purchases, some credit card rewards programs also allow you to use points to redeem gift cards at other retailers.
As a pro-tip: Repay your credit card balances in full every month so that you can enjoy the benefits of reward programs while avoiding interest charges.
Whether you’re a math whiz, speak flawless French or have always had a way with explaining things, chances are someone could be willing to pay you for your expertise. Your services as a private tutor could come in handy for students at schools, colleges and community centres. If you conduct sessions online, you could work as a tutor from the convenience of your own home.
Tutoring can be a sustainable long-term way to earn money because of the referrals that occur within neighborhoods. Once your pupil shows some improvement, you can expect to get calls from friends and neighbors for your services.
Got a skill you can offer online? You can sell your services as a freelancer on a range of digital platforms, from one-off projects to more long-term gigs. From graphic designing and video editing to podcasting and copywriting, no skill or service is too obscure to sell.
If you are looking to learn a skill, first do some research on freelancing platforms to find the roles most in demand or at a suitable hourly rate. Invest in online training, if available, and earn certifications and licenses that can help you demonstrate your capabilities. Once you have mastered your skill, join associations or networks that match you with peers to continue your learning and provide new opportunities for clients.
If you’ve got some savings, you might want to consider investing them in property or on the stock market. Look into building an investment portfolio with the help of a financial advisor or download an app that gives you access to a robo-advisor online.
Of course, if you are trying to make immediate money through investments, you will likely be looking at volatile investments that have high risk. For new investors, consider speaking first with an experienced advisor to help you understand the fundamentals of investing before you dive in headfirst.
Do you have a spare bedroom that is being unused, or will your entire home be empty the next time you go out of town? Consider renting it out on a short-term vacation rental site. You get to decide the dates, the rates and the house rules, and can adjust them any time.
To be sure to earn good reviews for any stays, invest a bit in some fine touches to provide comfort for your guests and be sure to be responsive throughout their stay. Positive reviews will increase your chances for new customers and increase your potential for extra cash.
Channel whatever you happen to be passionate about into an online blog. Depending on how often you create content, a blog could be a great way to make a steady passive income. If your audience is big enough, companies could pay you to write about their products and services. Over time you could bring in more regular revenues through strategies such as paid advertising, sponsored posts and affiliate marketing.
While earning cash from a blog can be a long road, committing to a consistent schedule of publishing content (at least twice each week, if not more), reaching out to similar sites for links to your blog, guest blogging at sites within your niche, and including links to your site through social networks when you publish can all attract new readers. Once you have established an audience, you can begin to earn money through ads and affiliate marketing.
Joining an affiliate network or becoming a social media influencer could be another way to make money on the side. The way it works is that you would endorse a product or service on your social media channels or website by posting a link to it. Every time someone clicks on that link and purchases something, you earn a commission.
If you have a strong social following, compare “affiliate programs” to find one that matches your interests, audience numbers, and your audience’s needs. The best affiliate marketing should feel like genuine endorsements of products: so try to avoid attaching your personal image to brands that don’t feel right. Once your affiliate program is set up, you will include unique links to products in your content, earning you credit every time one of your audience members clicks into the link and purchases the product.
If you enjoy taking photos of landscapes, people and places around you, consider selling them to stock photography websites. Even if you take photos purely for fun, you could have some gems in your collection that someone else would be willing to pay for.
Be sure to understand your stock image platform: you will want to understand the size of the audience that uses the platform, if there are any specific technical requirements for images that may require additional work from your side, and the payment scale for selecting your images.