4 Ideal Ways to Earn Extra Money on Top of your Normal Wage
Having a stable and reliable job that you can depend on is great, but eventually, most of us yearn to create new streams of revenue and venture out into more entrepreneurial efforts. After all, who wouldn’t want a bit of extra spending money that doesn’t chip into their salary and savings?
Unfortunately, not all supplemental income methods are convenient or practical, as many people simply don’t have the time or energy to take on a second or third job when they already have a full schedule packed with pre-existing work, school, and family-related commitments. Luckily, there are at least a few ways you can make money on the side without having to over-commit yourself, including but not limited to the following methods:
Signing up for freelancing sites is easy, but be aware that it may take a while before you land your first project or client. However, once you’ve earned that initial feedback and have gotten the hang of submitting effective proposals, you should be able to make a decent side income online if you’re willing to put in the time to learn a digital trade like writing, web design, or marketing.
2. Telecommuting Jobs
Much like freelancing, telecommuting is another way to spend some of your hours at home making money. There are always dozens of companies hiring remote workers. Although no experience or degrees are required, you’ll stand a better chance of being hired if you’re a good phone conversationalist or are fluently bilingual.
3. Consignment Business
Finding cheap or even free items locally and then selling them online for a profit has become a common side income for many entrepreneurially minded people. The supply of gently used items at low prices is perpetually renewed as people upgrade to new things and sell their old stuff for a steep discount, which gives you the room to sell higher and hopefully double or even triple your cash investment.
If you enjoy writing and/or researching trending topics or a specific niche, then you might want to start your own blog and set it up to generate income via contextual ads and other monetisation methods. After a while, it will feel more like a hobby than a side job and it’s a great way to build up residual revenue streams while also honing your writing and research skills.
5. Lottery, Competitions and the Occasional Bet
Many of us simply don’t have the time to commit to another endeavour if we’re already busy with our current commitments. If this is the case, you could consider playing the lottery occasionally using sites such as Lottoz, entering competitions which can be found here or placing a bet on your favourite sport. When doing this however, it’s important to maintain willpower and not get carried away. Try do it just a few times a month and if you win, put that money straight into your savings.
Combining Supplemental Income Streams
In closing, there’s no rule that says you have to stick to just one of the above income generation methods. In fact, all of them can be incorporated into a single schedule quite easily so long as you’ve not allocated too much time to one single income method. You can still work part-time as a freelancer in the evenings after coming home from your day job, while also doing some telecommuting and consignment management on the weekends. In any case, finding more ways to invest your spare time and money is always going to be beneficial, regardless of which route you decide to take first.