Freelancing, or making money on the side of your main job, has kicked off this year, with the number of freelancing Americans climbing to 36%. It makes sense: with job security on the decline, having a side gig is a great way to recoup financial losses and try to keep your income more stable. Here are five easy ways to start diversifying your income stream and make more money on the side of your main job.
Were you particularly good at a certain subject at school? Are you a pro at calculus? Learning how to tutor math online can be a great way to use a skill that you already have to make money. Being a math tutor is the best way to actually use the algebra knowledge that you spent so long acquiring.
Plus, being an online tutor means you can do it from the comfort of your own home. Being an online tutor with HelloThinkster means you can help kids to build on the math skills that they may be struggling with, something that has become even more popular during the lockdown, where kids have less time with their regular teachers.
Sell liquidation products
2020 is, unfortunately, a tough year for businesses, and many are going out of business and being forced to liquidate. That means there is a lot of stock up for grabs, which you can make some extra money with. You can actually grow a business selling return pallets, for example, bought on a regular basis from companies who no longer need them.
Once you find a reputable distributor, you can start selling as many or as few as you like. It can be anything from a spare room job, where you only sell a few a week, or if it starts going really well, it can spiral into a full-time job. It’s a great option if you have some extra time on your hands and are a good salesperson with great people skills.
Build up passive income
If you have extra time on your hands right now, but might not down the line, then passive income is a very flexible way to get yourself some extra cash. Passive income is anything that earns you money without needing to be constantly active.
People earn money from a passive activity in different ways, from selling ebooks online to ads on a website, but the best option, according to Yieldstreet, is through building up a strong investment portfolio that gives you a steady stream of passive income. It takes some time to build up, but it can be a big help in building wealth through passive activity.
Use your car for your income
There are tons of jobs out there that you can qualify for, simply by having a car. If you don’t use your car much, you could rent it out to others in the local area. Otherwise, spend your evenings or weekends driving for Uber or become a delivery person for Amazon or Dominos. Whatever suits you, having a car is often a hidden goldmine. It’s the easiest way to make some extra money that can even pay off the money you’re already spending on insurance or fuel.
Help out with pet or childcare
You might think babysitting or dog walking is only for teenagers looking to make extra cash, but it can be a truly rewarding job for adults too. After all, who wouldn’t want to spend their evenings with a tiny cute friend? With dog walking, you also get to spend small amounts of time outside and it’s easy money if you like spending time with animals. If you have much time to spare each week, it’s a great way to earn a lot of money while working on your own schedule.