In today’s gig economy, there are several ways to increase your income with a side hustle. Depending on your education and skills, you might even be able to earn a good amount of money quickly. Here’s how to make extra money on the side.
Put Your Creative Talents to Work
How to make extra money? Look at your talents. Everyone has a creative talent. If you’re not using yours, you need to connect with someone who could use your creativity. Consider signing up with a freelance site. Many online job sites allow those who specialize in creative endeavors, such as graphic design, editing, writing, and voice-over work, to share them with people who need them
Be a Virtual Assistant
If organizing is something that you do well, then you would probably be an excellent virtual assistant. This is a work-from-home job, so you can save time and money by not having to commute. Many business owners need someone who can complete a variety of tasks. Plus, you might appreciate the diversity in your workdays.
Become a Lyft or an Uber Driver
One of the most common ways to increase your income is to start driving for Lyft or Uber. These days, the sharing economy is more significant than ever, and these ride-sharing companies have been at the forefront of creating it. The great thing about driving for Lyft or Uber is that you can set your hours and work as much or as little as you want or need.
Become an Online Tutor
Regardless of your location, you can tutor over Skype or on another platform. This is perfect for people who prefer to work from home. You can teach English to people in other countries or share your great math or science skills with anyone who needs help in these subjects.
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Ask for a Job Advancement or a Raise
Don’t wait for your boss to decide to increase your salary. They will likely wait as long as possible to pay you more. If you don’t ask, you may never see a rise in your paycheck. If it’s been a while since your last merit increase, make a list of your work achievements. Also, research what other people in your field are making. Then, ask for a specific raise. Request an amount on the high end of what people in your job usually make to give yourself some room to negotiate.
The worst-case scenario is that they’ll say no. If they refuse you, ask what you need to do to earn more. Be open to a promotion. You’ll need to take on more responsibilities and tasks, but it will likely be worth it to get an income boost.
Work Overtime
If you are paid hourly, then see if you can work overtime to earn extra money. Companies pay workers time-and-a-half for overtime hours worked. If you can work overtime over a holiday, then you may qualify for double-time-and-a-half. This will help you earn money even faster.
If overtime isn’t available for your current job, ask your employer if they offer another way to earn a bit more. Ask about overload pay. Some companies pay their employees for extra work completed outside of their regular full-time job. You may not be able to earn as much as overtime would pay, but it could give you that financial boost you need.
Plan a Yard Sale
One of the best ways is to plan a yard sale. You’ll get rid of the things you no longer need or use and have a little more cash to put in the bank. Yard sales are perfect if your kids have outgrown a lot of their clothes, shoes, and toys or if you’ve just accumulated more stuff than your house can hold. Be sure to advertise in the local newspaper or by placing a few signs around your neighborhood.
Figure Out Your Relationship to Money
To save and earn money more effectively, learn how your brain manages money. Do this by tracking your spending. Write down as many details about your money decisions as you can. For instance, track how you were feeling before and after spending, who you were with when you spent money, and when you spent money. After a week or two, you can start to see your spending patterns.
Why It’s a Good Idea to Get a Side Gig
Getting a side gig can help you with income security. When COVID-19 arrived in the United States, many people found themselves without an income. A side gig can prevent that from happening to you. Having more than one work egg in your basket can keep money coming into your checking account.
Start looking online. The internet has changed the way that many people work these days. An estimated 55 million people, more than 35% of the country’s labor force, are freelance workers or contracted individuals. Those who freelance or are contractors often choose this type of work for its flexibility. Not only do they like that they can work whatever hours they choose, but they can also decide not to work for people they don’t get along with.
How to Make Extra Money
Look to your talents and tap into them to increase your annual income. Hustling a bit more for some extra cash is helpful too. If you need guidance on achieving more without the pressure, contact us at the Leonard Productivity Intelligence Institute.
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