The first principle of my blog is Creating Ecosystems of Success, and two key focuses are Financial Literacy/Money and Business/Entrepreneurship. There’s an argument out there that the smartest way to live is to have multiple sources of income. As such, many individuals have given a lot of thought to how they can create second- or third-income streams outside of their 9-5 jobs. The following contributed post discusses how to create multiple income streams and is entitled, 11 Ways To Make Money Outside Of Your 9-5.
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Making money by going to your 9-5 job every week is certainly an honorable way to earn money. However, more and more people are beginning to realize that if they want to lead truly comfortable lifestyles and build wealth, they are going to need more than one source of income to do it. In fact, the most wealthy people in the world often have 6 or 7 different sources of income. The less you have to rely on one source of income, the better!
Below, we’ll go into 11 ways you can make money outside of your 9-5 so you can begin working on bringing in cash from various sources:
1. Rent Out A Part Of Your Property
If you have a property and you don’t use all of it all the time, you could consider renting out a part of it. Even renting out your driveway could help you to bring some extra cash in from time to time! If you have a spare bedroom you could rent that out, provided you don’t mind sharing your home with somebody else. Alternatively, you could look into a site like Airbnb to rent out your entire home when you’re going to be away yourself. You could make money while you’re off on your own vacation!
2. Sell Things You No Longer Use
Go through each room in your home and collect things that you haven’t used for 6 months or more. Usually, if you haven’t used something in 6 months you can pretty much guarantee you won’t use it again (unless it’s some special item that you only really need for emergencies, that is). You can use sites like eBay to sell these items and make some extra cash. If you’d rather cut out the middleman costs, selling on Facebook or even hosting a garage sale can be just as effective.
3. Offer Your Services As An Online Freelancer
If you have a little spare time, you could always offer your services as a freelancer using sites like Upwork and People Per Hour. You could proofread, write content, design logos, or do anything else that you think you’re good at! It can take a little time to get work when you’re just starting out, but it can be a nice way to make a decent side income in your own time.
4. Start Blogging/Vlogging
Blogging and vlogging should be done first and foremost because you are passionate about what you want to share. If you’re doing it purely for the cash, you’ll probably get fed up and end up giving up after a short time! You should create quality, consistent content because you have a message you want to share and you enjoy it. Enjoyment will keep you going when your subscribers aren’t growing and you’ve made a miniscule amount of money in months. Consistency is key if you want this to be a way for you to make money!
5. Turn Your Passion Into A Side Hustle
If you have something you’re truly passionate about, it could be possible to turn it into a side hustle. Maybe you like making jewelry or reupholstering furniture; if you’re serious, you could spend your spare time building up this business. Eventually, you may be able to leave your 9-5 job and work for yourself. However, you’ll want to make sure you’re aware of the reasons most new businesses fail. It won’t be easy, and you’ll still need to work hard in the beginning. You really have to love it and you really have to want it!
Investing can sound like a scary word, especially to beginners who have only ever put their spare cash into savings accounts. However, it’s essential if you want to ensure your financial health for the future and give yourself a chance at being truly wealthy! There’s a plethora of information out there that can help you to get started, and you only need to start small. You can even find apps like Moneybox to help you get started. The important thing is getting started and committing a portion of your earnings to investing regularly – then you’ll build up momentum and be able to learn as you go along. You’ll be glad you started now. The earlier you start, the more you can take advantage of compounding!
7. Smart Spending
Smart spending can sometimes be all it takes to help you make money outside of your 9-5. There are numerous ways you can do this. For example, by making sure you buy items that will enable you to make more money in the long run, like Disney DVDs that become more valuable once they are taken off the shelves (rather than items that lose value, like brand new cars). You can also spend smartly by using cashback sites when you buy, and you should be able to get a portion of what you spend back each time. Then you can try smart spending alongside the NFL betting guide – but be warned, using that method comes with an element of risk that you should keep in mind.
8. Create Online Courses
If you have a lot of knowledge and/or passion on a certain subject, how about creating online courses to help others learn? You can create courses about just about anything these days, and the great thing is, you only have to do the work once. The courses can sell again and again and you will continue to make money!
9. Write Ebooks
Ebooks can help you to make cash if you do some keyword research and figure out what people want to know about. Both fiction and non-fiction are an option, although you may need to write lots of ebooks to make a decent sum of money.
10. Start Your Own Ecommerce Business
Ecommerce businesses are extremely popular, and for good reason. Pretty much anybody can set one up using sites like Shopify, selling items that they feel passionate about.
11. Advertise On Your Car
There are companies that will pay you to have an advertisement for their business on your car. All you have to do is fill out a form stating where you drive and how much you drive, and any suitable offers will then be sent to you. The company will remove the ad when the campaign is complete and you will get paid. Easy!