Having more streams of income is becoming more and more common as freelancers, home-based entrepreneurs, writers, and other types of flexible jobs there. With the laptop being widely available, only internet companies are growing left and right, and internet access is available in almost every coffee and food show, not surprisingly. Having multiple income streams (some of them completely inactive, meaning zero work is involved) allows you to retire early.
Here’s how to make some extra money:
- Become a Freelancer
More than 15 million people are self-employed in the United States since May 2015. Self-employment is becoming less dreamy and more jealous than ever, and people are doing it. You can find freelance work in these areas:
This list is not exhaustive. There are tons of other ways you can work independently. To find a job, check:
Yes, even Craigslist. Browse through these sites and see if there are any interesting jobs. You may want to be a freelancer!
- Be an Uber Driver
Uber is a taxi service that is fully owned by “independent” drivers – ordinary people who do not have official taxi knowledge who own a car and are not willing to drive people at the right level. If you are wondering how you can make more money, using your car, helping others get around can be the answer.
- Rent Your Home or Non-Air Room by AirBNB
AirBNB, if you haven’t heard of it, is a way for travelers to stay in people’s homes. If you have a separate bedroom or guest house, you can rent it out to people traveling in your area who can find an empty hotel room or who are looking for something to stay at home. To get bonus points, show them the location, tell them about local food and the best “secret” places to go. They can give you a better tip!
- Invest in a Rental Building
This strategy takes more time and money to commit than the others, but it can be very rewarding if you do it well. Be a friend of a real estate agent and let them show you the ropes to buy a place. Once you are well-organized, renting can be a source of income without having to worry about tenants and constantly repairing the facility.
- Rent Your Car to Tire
Tire is similar to AirBNB in that it will rent passengers. However, instead of renting a place to sleep, you will rent your car for them. If you don’t use it, you may be making more money with it – just make sure you have great insurance and learn the rules well.
- Start an eCommerce Store
Opening an online store is actually a lot easier than you might think. You can have one launch in less than an hour using a tool like Shopify or BigCommerce. Also, once you have set it up and it works, it has the potential to become another idle stream of money.
Don’t worry if you don’t have experience, there are many free resources to help you get started with your online store and marketing “hacks” to help you make your first sale.
- Write a Blog
If eCommerce is not your cup of tea, you can still make money with your website. Creating a blog has never been so easy – you can start for free with tools like WordPress or Blogger. What do you like? Cats? Computers? Backyard chicken coops?
Start writing about your love for your blog. Writing consistently high quality content on the same days every week will move you in the right direction. There are other things to worry about, such as SEO (Search Engine Optimization), but you don’t need to know what to start with.
Once you have found the following stable, there are many ways to monetize your blog, such as:
Selling Your Products
Sell subscriptions (like course or eBook)
- Teach Something
The last thought I have of you about how to make money is teaching. You do not have to be an expert teacher or trainer. Do you know more about basketball? Can you play the piano well? What about math, English, science, or video games? You can be paid for teaching almost anything. To get started, sign up for a site like eCoaches, Udemy, or Cogno.
I hope this article has taught you how to make more money with more incoming streams. Good luck to you – and let me know if you find success in any of these ways, I love success stories!
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