There are a number of reasons why you might be seeking out a second incoming right now. You might be saving up for a special occasion, a once-in-a-lifetime holiday, or you may be looking to purchase a new property. Whatever the reason may be, a second income is a reliable way to boost your monthly income and create some extra cash.
Whether you want to make money on Instagram or step into the real estate business, there are so many different options to explore. Consider some of the following ideas and gain some inspiration to boost your income.
1. Social Media Management
Most of us have some sort of experience when it comes to social media these days. If you have a friend or know of a local business that needs support in running their accounts, then this could be the ideal way to bring in some extra cash. Whether you’re writing captions, shooting images, or creating content for a small business, this type of social media management is invaluable to busy entrepreneurs and it could earn you some extra cash as well!
2. Coaching and Consultancy
If you have a specific skill set or experience in a certain industry, then why not offer one-to-one or group coaching. You could work with a group of people who are interested in your specialist area and train them how to do what comes easily to you.
3. Local Part-Time Job
If you want to make your side hustle work for you, then you might want to consider working locally in your community. From babysitting to taxi driving, there are a number of different side hustles which could be suited to your skills. You may even want to become a local dog walker and help out your neighbours. These small jobs will soon add up to a decent chunk of savings if you remain consistent.
4. Real Estate Investments
Getting into the business of real estate can have huge financial benefits to you and your family. Purchasing a property for lease or upgrading a property to be sold for profit is an excellent way to boost your income, but you need some start-up capital to get started. Talk to an expert in this industry and gain an idea of how the process works when you’re getting into real estate.
Once you’re certain that this path is for you and if you are looking to buy an investment property you can start searching online for potential properties for you. If you are savvy about your real estate investments, the results could be worthwhile.
5. Take Paid Online Surveys
This is one I enjoy doing because you don’t need a monetary investment to get started – All you need is a mobile phone / laptop and a connection to the internet. When I am at home and find myself not doing anything or just watching TV, I have my laptop open and I take the surveys on the website only survey companies. When I am on the train to work, I take app-based surveys.
Find out what websites pay you the most to take online surveys here.
Every person seeking a side-hustle will have different skill sets, passions, and time constraints to consider. Hopefully, one of these ideas sparks some excitement and gets some ideas flowing in your mind.
Taking on a side hustle can be quite a big commitment, so make sure you choose an option that fits into your current lifestyle. As soon as you start earning the extra money all of the hard work and extra hours will soon pay off!
If your current job takes up too much of your time, there are many other ways to make money in your spare time.
James Banerjee is an Account Director who graduated from the University of Kent in 2014. He works in SEO on clients such as HSBC UK and Nestle and he has a keen interest in personal finances and money-saving advice.