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7 ways to earn extra income even if you work full time Do you want to earn more money? Real estate investments, Amazon e-commerce and the sharing economy await you.
Ways To Make Supplemental Income
Is shrinking your bank account affecting your health? The American Psychological Association (APA) released a study showing that financial stress is affecting the health of Americans across the country. And it turns out that not only those who live in low-income households, the wealthy also experience money stress.
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You can eliminate some of this financial stress by earning more, even if you have a full-time job. Steve Chow of MyWifeQuitHerJob started two six-figure businesses while still working his day job.
Whether he’s looking for money to launch his startup, make a new investment, or pay off mounting debt, a few hundred or thousands of dollars a month can be life-changing. Here are some extra income ideas to get you started:
As the digital age reaches new heights, starting a service business is no longer a dream but a reality that does not require an extensive network or significant overhead. The power of social media and various e-commerce platforms can greatly expand your reach and help your business grow.
A great starting point is to use your existing network. Spread the word about your service and rally people you know to do the same. In our digital-driven world, referral systems and word-of-mouth marketing are on the rise thanks to platforms and apps like Facebook, LinkedIn, Etsy, and eBay.
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Noah Kagan of AppSumo is a great example of this concept. He set an ambitious goal to earn $1,000 in 24 hours from scratch and plunge into the exciting realm of success.
Kagan’s journey led to the birth of a thriving subscription beef jerky business, which he eventually passed on to one of his students to run. His success story illuminates the path for beginners.
Kagan’s plan can be adapted to fields as diverse as restoration, writing, graphic design, online marketing, and even listing vintage or handmade items on Etsy or eBay. These opportunities promise enormous growth and revenue potential in the sharing economy.
Once you decide on a service, writing an attractive newsletter will be the key to progress. Add to that a dynamic social media presence and you’ll be on your way to a thriving business in a matter of days.
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By taking advantage of the online platforms and tools available, you can generate additional income that can revolutionize your financial picture.
It may not be possible for everyone to take on the role of traditional owner, especially for those who already work full time and have limited funds. However, the real estate environment has changed significantly and opened up new ways to generate income.
Consider investing in an apartment or smaller property abroad as a holiday destination. These properties are typically more reasonably priced, even when you factor in the cost of hiring a local property management team to monitor tenants while you’re away.
There is an interesting trend that goes beyond conventional real estate investing and includes taking advantage of online platforms like Airbnb. This way, you can turn an unused room or an entire house into a lucrative source of additional income. They facilitate your side business by connecting you with potential tenants around the world.
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You can also sell old furniture or unwanted items from your property on Facebook Marketplace or Craigslist before renting it out.
When it comes to commercial real estate, it still offers a lucrative side hustle and provides an impressive way to earn passive income without a significant upfront investment.
Platforms like Realty Mogul have made it easy to enter this space, allowing you to invest in commercial real estate for as little as $5,000. You’ll have access to proven features and premium offerings that might not otherwise be available.
Essentially, the digital revolution has turned real estate into a realm of diverse and accessible opportunities for busy people, making it an attractive option to earn extra income at a time that suits you.
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Read this: Brandon Turner’s book on investing in real estate with no (and little) money | Amazon
There are many ways to earn extra money online, especially if you take advantage of your free time and work from the comfort of your home.
One such method is to share your experience by launching an online course, e-book, or even creating a YouTube channel. These platforms not only provide knowledge to others but also provide you with a passive income stream.
Take my personal experience for example: my 100 Days of Growth eBook ended up generating more income than my full-time job. The initial phase required a significant investment of time and effort, but once up and running, it required minimal effort to maintain and maintain sales.
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If creating eBooks isn’t for you, don’t worry! There are many more possibilities waiting to be explored. One of those alternatives is to start a video course, training or YouTube channel.
In line with the growing trend of visual learning, I went beyond books by launching content marketing training through ContentMarketer.io. This initiative gives my clients the opportunity to improve their content marketing skills in just 10 weeks.
Blogging is another popular option in the freelance writing industry. Savvy bloggers often monetize their blogs through affiliate marketing, sponsored posts, advertising revenue, and even YouTube videos embedded in their posts.
By strategically promoting products or services on your blog or YouTube channel, your passion for video writing and production can become a lucrative side hustle. Especially when you keep attracting more subscribers.
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Take advantage of these opportunities to earn extra income in your free time while working from home on your own schedule. The collaborative economy is ready to be adopted!
Read this: Start your own online learning or training from media staff and Ciree Linsenmann | Amazon
Opening your own online store and building a customer base is always a worthy goal, but it also involves wearing many different hats. These roles include researcher, marketing guru, customer service representative, and logistics coordinator.
E-commerce giant Amazon makes this process easy with its comprehensive affiliate marketing and sales platform that can help you earn passive income. In addition to selling physical products, Amazon’s affiliate marketing program is a gold mine that is often overlooked by newcomers.
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With this program, you can earn a commission for promoting any of the countless products available on the site. For bloggers, content creators, and social media influencers, this is a great way to make extra money without having to deal with products or customer service.
If you are not ready to face the challenges of running an independent e-store, you can sell the product and expand your presence directly on Amazon. This is the perfect solution that allows you to benefit from the site’s huge user base without having to take on multiple roles.
Some sellers even streamline their operations by shipping items directly to Amazon’s fulfillment center, freeing them from having to handle the product.
Basically, Amazon offers an all-in-one platform to earn extra income with less hassle, be it by selling products or affiliate marketing, providing an effective springboard for your side project in the world of e-commerce.
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Taking advantage of the collaborative economy is not only an opportunity to earn extra money in your free time; It is a way to diversify your income streams by turning idle and unused resources into a useful side hustle. This growing sector goes beyond listing your spare room or basement on Airbnb, although as we discussed above, it’s a great first step.
Think about your vehicles: Platforms like Turo, DoorDash, Uber, and Lyft can turn your idle car into a money-making machine as a delivery driver. You can even consider bike or carpooling to work and turn your commute time into productive hours by carpooling.
Additionally, if you have specialized equipment, such as high-quality cameras, sites like Cameralends can help you earn additional income. Adventure gear like snowboards or bikes can find new life on Spinlister, while a rarely used sailboat can pay off on Silo.
Also think about the services you could offer in your free time. Platforms like TaskRabbit, Rover or Care.com connect qualified professionals with people who need services, turning their knowledge and experience into a secondary activity.
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By using these platforms, you will not only increase your additional income, but you will also make the most of your assets and talent.
Organizing events can be a powerful source of income without the need for thousands of registrations, vendors, and VIP guests. Start by creating a free MeetUp group on a topic you know, like growth hacking. First, you can host free events to attract and build a loyal following.
As your group grows, consider moving to paid events with featured guests. Book a great meeting room at a nearby hotel and set the stage for an exclusive and sought-after event. Participants will be willing to pay.
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