How can you make extra money while working a full-time job?
Are you feeling the pinch of rising costs of regular goods? Is your bank account empty after paying your bills at the end of the month? Are you saving for a vacation, a wedding, or your children’s college fund? Regardless of the reason for wanting to make extra money while working full time, the reality is that having a traditional 9-5 job won’t make you financially stable. Many people have come to this realization and are therefore looking for opportunities to supplement their income to achieve financial freedom. It’s more than possible to make money on the side while working a full time job, and in this article, you’ll learn how.
How Can I Make an Extra $1000 a Month While Working Full Time
According to the Statista website, the average American spends 2 hours and 33 minutes a day watching TV. If you’re one of those people, here’s productive alternatives that will make you an extra $1000 per month. Here are some tips:
1. Use Your Gift: Think about what you’re good at and use your skills to start making money. Are you good at writing, braiding hair, doing administrative tasks, or graphic design? Whatever it is, get online and set up a freelance profile on a website such as www.upwork.com, www.peopleperhour.com, or www.99designs.com. They are free to join and have thousands of jobs available that you can apply for.
2. Dog Walking: Are you a dog lover? For some pet owners, it’s more convenient for them to pay someone to walk their dogs. This may be due to a health condition, they’re going out for the evening, or time constraints. It’s super simple to get started with a dog walking job, all you need to do is sign up to one of the many dog walking apps such as Rover, Wag! or Fetch and get started.
3. Become an Uber Driver: Companies such as Uber, Lyft, and Gett all hire self-employed drivers to give people a ride to their chosen destinations. You decide when and how many hours you work. If you own a car, and live in a big city, this is a great way to earn an extra $1000 per month.
4. Become a Food Delivery Driver: One of the easiest part time jobs to get is to work as a food delivery driver. As long as you’ve got a clean driving license, no criminal record and a smartphone, you can get started immediately. Depending on the company, you’ll need training, but once you complete it, you’ll be on the road.
5. Become a Handyman: Do you know how to fix things around the house? From hanging pictures up, to mounting TV’s and furniture assembly, people are looking for someone to give them a helping hand around the house. To get started, advertise your services on a website such as www.craigslist.com, or www.taskrabbit.com.
What Are the 7 Streams of Income?
According to Yahoo Finance, most millionaires have seven streams of income. However, it’s important to mention that these income streams take time to build, you’re not going to start making money from them immediately. With that said, here are the seven streams of income that will help you become a millionaire:
1. Earned Income: This is the income you earn from paid employment, it involves trading your time for money. One of the main benefits of earned income is that it provides a reliable and consistent source of income that covers your basic living expenses and allows you to save for your future.
2. Capital Gains: Capital gains income is the profit recieved from the sale of an asset such as real estate, stocks, or art.
3. Interest Income: The two most common sources of interest income come from bank accounts and bonds. However, it’s important to understand that interest income is dependent upon inflation.
4. Dividend Income: This form of passive income is earned by owning stocks that pay dividends. It’s a profitable type of income and acts as a partial buffer against asset price declines.
5. Rental Income: By owning properities such as office buildings, houses, or apartments, you can earn a passive income from rental payments.
6. Business Income: You generate business income by owning a business. There is unlimited earning potential from business income.
7. Royalty Income: Owning intellectual property such as trademarks, property, or patents provides a reliable and steady source of income. However, how much you earn is based on monthly sales.
To get started, spend a couple of hours a day applying for work, or building your profile and portfolio if you’re considering taking the freelance route. Remember, consistency is key, by turning off your TV and investing in creating the life that you desire, it won’t be long before you’re raking in more than $1000 per month.
