Investing is all about growing your long-term wealth. Sometimes, it’s hard to find that extra bit of cash you need to get you started though. To help you out, Rubicoin takes a look at some novel ways to earn some extra income.
You probably don’t need us to tell you that finances can become stretched at times.
It could be the run up to the holidays, one of those months when all the bills seem to suddenly come in at once, or the few years it takes to save up enough for a deposit on your mortgage.
There are lots of ways to combat these periods, like not wasting money on things you don’t need and having a proper budget in place. But in reality, everyone could do with an injection of extra cash from time to time.
Thankfully, there are lots of ways to earn some extra income on the side. Once you know where to look, you can find plenty of great opportunities to work when and where you want.
But this is cash that you’ll be earning in what’s supposed to be your spare time. The chances are that you’re already working a full-time job. Working in your free time too can end up being extremely demanding.
So the key is to find something that you’re already doing!
People don’t realize that they already have a set of skills or a hobby that can earn them extra money. All they need to do is change their approach. And with that in mind, let’s take a look at some of the best ways earning extra income in your spare time:
Did you ace a particular subject in school or college? Or maybe you play an instrument in your spare time?
Then why not advertise yourself as a tutor?
There’s a huge market out there for tutors in literally every discipline imaginable. Just think of all the people who want to play guitar, or learn a new language, or maybe just get some help with their math homework.
If you’re good, you’ll be surprised how quickly the work starts pouring in. There’s no better promotion than word-of-mouth, and one student can easily turn into ten very quickly. You can be clever about it and organize your time so you are able to teach a number students at once. Not only will you end up saving yourself some time, but you could potentially walk away with a few hundred bucks after every session.
Location isn’t even a problem anymore. If you want to move the course online, sites like Udemy allow you to sign-up and teach long-distance web courses for payment.
2. Become A Driver
This one is pretty simple. If you own a car that’s up to spec, why not spend a few hours a week as an Uber or Lyft driver.
Driving strangers around might not be for everyone, but there are some pretty big perks of being an independent contractor. You become your own boss, you can choose your own hours, and you can take time off whenever you want.
There aren’t many other part-time jobs that can offer you that!
If you’re doing a job that you love full-time, then why not do a bit in your spare time too?
Sites like Upwork allow you to advertise yourself for freelance jobs in pretty much every professional skill out there. It’s free to create a profile, and you can use skills that you already have to boost your income in your spare time.
With freelancing, it’s important to remember that you should treat your online reputation as you would in a work environment, however. The more reliable and professional you are, the more highly rated you’ll become and the more work will come your way.
And whatever you do, don’t be tempted to undercut everyone else in order to get contracts. The quality of your work should command a fair fee.
4. Walk Dogs
Okay… hear us out on this one! It might be up there with setting up a lemonade stand, but dogs are man’s best friend for a reason!
If you’re a dog owner, you’ll know that dogs can often take quite a bit of minding and need more than a few walks a week. Unfortunately, a lot of people simply don’t have the time to take their dog out for a walk regularly.
So why walk one dog when you can walk a few?
By offering to walk dogs around your neighborhood, you can earn money by literally just doing one of your daily chores. People who don’t have the time to walk their own dogs will be delighted to send their pooches out on a regular walk, and taking to or three extra dogs out with your own could see you getting up to $60 a walk!
Blogging can be a great way to make some extra income—as long as you have something interesting to say.
Anyone can be a writer these days, especially with a global audience available on the other side of the computer screen. But there are only so many fashion blogs that the world will read.
A blog can be on any subject, but it’s important to remember that the more niche it is, the better. Choosing and targeting a specific audience is crucial if you want your blog to be effective. Basing your blog on general subjects will ensure that you just end up getting lost in the noise.
If you’re interested in fashion, for example, you’re probably better off writing a blog on a specific style. Or that geeky hobby you had in high-school that everyone made fun of? You can bet there are more people out there who are interested in it – and not many writing about it.
Congratulations, you’ve just figured out your topic!
Once you have your blog set up with a good following, you can then become an Amazon affiliate and recommend books or products that your readers may like for a cut of the sale.
Don’t feel as though your options are limited to these!
Sit down and assess yourself to see if you have any skills or qualities that you’re underusing. Is there something you already do recreationally that could make you some money?
If you go to a spin class three times a week (which you probably pay handsomely for), why not sign up for a courier service and make some cash while you exercise? Or do you have a spare room in your house that you could rent out on Airbnb? What about a car you rarely use that could be rented out on Turo? Do you have a power washer in your garage in a neighborhood of dirty patios?
There are hundreds of novel ways to boost your cash inflow without taking on too much extra work. All it takes is a bit of innovation and the right approach.