Many us could do with a little extra cash these days.
When times are tough or we need to save for that house, wedding or holiday, our initial strategy tends to be along the lines of ‘find a higher paying job’ or ‘tighten the purse strings’.
But often, those tactics aren’t possible — or enough. Budgeting, saving and cutting costs only goes so far.
Salary increases or new jobs aren’t always available — especially for entrepreneurs, start ups and small biz owners hustlin’ to get their ‘baby’ out into the world.
Luckily, there are still a number of ways we can bolster our finances by supplementing our existing income — all it takes is a little creativity and effort.
Here are eight, legitimate ways you can ‘moonlight’ and boost your bank balance on a monthly basis:
Helping to promote, share or sell a product you’re passionate about is a popular way to earn a commission on a monthly basis — and potentially — supplement or create a passive or residual income.
Network marketing is a type of business opportunity that is very popular with people looking for part-time, flexible businesses and is often claimed to be a business model that attracts minimal risk, little investment and no experience or skills.
Companies in the business of selling essential oils, nutrition supplements, health foods and programs and beauty products are popular choices for those interested in network marketing opportunities. But remember — it’s important to find a product and company you truly, authentically believe in and is aligned with your values. So do your research!
For many businesses, outsourcing contracts, projects and skill sets is fast-becoming an alternative to permanent positions. Delegating work to independent contractors or freelancers makes sense for the bottom line, because companies can simply pay for the work they need done with minimal overheads or commitment.
So, if you have a freelance-friendly skill, such as graphic design, copywriting, web development or photography, take advantage of the opportunities that abound and get out there and market your services.
From festivals to trade shows, exhibitions, conventions, conferences and markets, there are plenty of opportunities to make some cash over the weekend. If you know of a big, upcoming event, it’s worth approaching organisers and exhibitors and offering to lend a (paid) hand doing anything from bumping in, to marketing products and selling food and drinks.
There are plenty of avenues to acquire additional skills, expand your capabilities and earn money in a new field. Consider joining a weekend, night or online course and gaining a new qualification or skill that will open you up to opportunities for a ‘job on the side’ — such as barista, photographer, yoga teacher, health coach or maths tutor.
The opportunity to make some decent money could very well be hiding in your closet! Detox your home, get rid of all the clutter and unnecessary material items with a yard sale, eBay, Gumtree or Craigslist.
Unwanted books, DVDs, clothes, exercise equipment, appliances, furniture — the lot.
Whatever you are unable to sell, donate to a good cause. Simplifying your home or office can be good for the bank account — and the soul.
Are you handy in the kitchen or with the sewing machine or paint brush? Do you make soaps or candles for fun? Consider selling your crafts and wares at the local handmade markets, on Facebook or through an online store or marketplace, such as Etsy.
Yep — it’s actually possible to be paid to shop. Mystery shoppers are paid by market research companies to report on their experiences in stores, restaurants, salons and more. For each assignment, you’ll be given instructions on where to shop and what to look for and then provide feedback on your experience with customer service, the product and beyond.
Once you’ve submitted your report, you’ll be paid for your time and, usually, reimbursed for anything you purchased.
If you have a well-established blog with a well-established tribe, it’s possible to earn money from your little corner of the blogosphere.
From affiliate links to ads, product reviews, setting up a shop and selling digital products such as eBooks and online programs or courses in your area of expertise, opportunities abound to earn money using your blog as the platform.
Do you know of any creative ways to make a little extra cash ‘on the side’? Share with us in the comments below!