According to CNBC, millions of jobs might be lost due to the coronavirus crisis. It’s no surprise that more and more people are looking for ways to make extra money even with a full-time job. Whether you are trying to pay off your loan faster or you just want to earn some side income to help pay your bills, here are 7 ways to help you put some extra cash in your pocket.
1. Sell Services Online
For example, if you know how to design websites, you can offer web design services to small businesses. Or if you speak a second language, you can give language lessons. If you are struggling to come up with ideas, it helps to take a look at the following: Books you usually read, Activities you do in your free time, Subjects you’ve studied in college or Websites you frequently visit.
2. Launch An Online Course
If you have knowledge or expertise that you can share with people to help them, you can consider creating an eBook or launching an online course. Here are the 3 biggest profitable niches for information products: Health & Fitness, Love & Relationship, Business & Money
With e-commerce sales expected to continue its double-digit growth, there are still a lot of money-making opportunities in this space. Today, it’s very easy to set up an online store. You can either do it on high traffic platforms such as Amazon, eBay and Etsy or you can start your own online store.
4. Ride the Sharing Economy Wave
With the sharing economy on the rise, it is very easy to earn a few hundred to thousands of dollars a month by driving with Uber or renting out your spare room on AirBnB. You can also rent out your car on Turo, your camera equipment on Kitsplit, your bike on Spinlister and your sailboat on Sailo.
5. Invest in Dividend Stocks
Investment guru Warren Buffer made billions of dollars in the stock market. If you know how to invest the right way, you can put your money in the stock market and let it work for you even when you are asleep. In fact, Jeremy at GoCurryCracker successfully built an investment portfolio which gives them enough passive dividend income every year to retire early.
6. Invest In Real Estate
Investing in real estate to earn rental income is a tried and tested strategy for many. In fact, Robert Kiyosaki of Rich Dad Poor Dad famously used this strategy to generate enough passive rental income to be financially free.
7. Build A Niche Website
When you build a niche website, you are basically creating a website around a specific topic. Here are some niche sites that people have built and have been making at least a couple of thousand dollars in passive income every month: Dog training website, Gardening website, Boat buying website, RV buying website or toys review website.