Do you worry about the bank’s declining deposit? According to the American Psychological Association (APA), financial stress can have a negative impact on the well-being and wellbeing of Americans. Financial strain can affect not only people with low incomes but also the wealthy.
It is possible to make a part-time income even if you work a full-time job. Steve Chou is the founder of MyWifeQuitHerJob. He works a full-time job and also owns two businesses that generate six figures in revenue. His name has become a household name.
A few hundred to a few thousand dollars a month could make a big difference in your financial life, whether you need it to finance an investment or your idea. Let’s take a look at some ways that you can get started.
Start a service company
You can start your own service-based company without having to have a large network or an online presence. It is easiest to inform your existing contacts about your services and ask them to spread the word to your customers.
Noah Kagan, founder of AppSumo (the online trading platform), came up with the idea. He started with nothing and tried to make $1,000 within a few hours. The business he started was successful. It purchased beef jerky, which was later sold to one of his students.
His ideas could be used to start a business, such as writing freelance or catering dinners. Send an email to get started. In just a few days you can have your own business.
Invest in real estate
Part-time landlords may not be the best option for those who work full time and have a tight schedule. You could however, consider buying an apartment or small house in other countries for your vacation home. These rentals are usually cheaper than you might think. You can also hire a local property management firm to manage the rental, even if you’re not there.
Even if you don’t have the funds to invest in commercial property, it can still be lucrative. You can start investing as low as $5,000 by using Realty Mogul. Participating in verified deals can give you access to premium listings that don’t normally exist.
Online resources
Your knowledge can be used to create a course or ebook that can help others and make a little extra income. 100 Days of Growth was a huge success. It earned me more than I made from my regular job. There are many things to do before publication. Once everything is done, it’s easier to maintain and keep sales.
You might consider organizing a boot camp or video training if you are not an ebook writer. To help my customers master the art of content marketing, I created a ContentMarketer.io Bootcamp.
Amazon’s resources can be leveraged
Although the idea of opening an online store and creating customers is admirable, you must also fulfill multiple functions. It is important to research products and find the best manufacturers. You also need to market your website and figure out the best way for you to fulfill orders. Customer support is important. You can request refunds.
Amazon can make you money and help you build your business. Sellers ship their products directly to Amazon’s fulfillment centers without even handling them.
Join the sharing economy
It’s easy to make hundreds of thousands or even thousands of dollars a month by using the sharing economy and sharing economy. You don’t have to rent out your bedroom or apartment on Airbnb. Renting your car through Turo the next day, biking to work or renting out equipment via Cameraends, renting your bike and skis through Spinlister, and renting your sailboat through Sailo are all options.
If you are looking for a quick way to make a lot of money, consider renting your entire house to Airbnb. This is a great way to visit family or go on a vacation.
Organise event
Hosting an event can help you make money. You don’t have to worry about thousands of registrations, vendors or speakers. It is possible to create a MeetUp group for free and hold events on topics that you are familiar with (e.g. growth hacking, Growth hacking). (Annotation Growing Hacking is a marketing technique that startups often use.
You can invite celebrities to speak at your event if you have a large fan base. A nearby hotel may offer a small, but well-known meeting space. You can organize exclusive events that are highly desired and charge for exceptional content.
Do what you love
Take a look at what you do in your spare time. You might be a fan of skydiving, like me! You can become certified, teach, and skydive on weekends. You can make extra money doing what you love. Ask your bartender if you can host Trivia nights (Trivia night), or even bartender a few nights per week and talk to interesting people.
Even if you don’t like one of these, but just want to relax and unwind, you can still make extra money by leaving feedback on websites such as UserTesting.
Get moving. Get creative and start making extra money today!
