Diversifying your income stream will provide you with greater financial resilience. A person who loses one job might find themselves in a better position to survive if they’ve got a second one to turn to. And it might be that the second job is one you actually view as a more viable option in the long-term.
So, what are so of the common side-hustles that we might consider? Let’s take a look at a few of the more popular.
If you know how to string a sentence together, then you might consider a career in blogging. There are several different ways to monetize a successful blog. You might charge sponsors for special posts where your endorse their products or services, or you might use Ads to generate a per-click income. You might ultimately use your blog as a portfolio when you later come to seek paid writing work.
If you have a lot of items sitting around the house gathering dust, then it might be time to liquidate them all via online marketplaces like eBay or Gumtree. Having done this, you’ll have an idea of the value of certain kinds of item, and you’ll be in a better position to pick up bargains and sell them on for a profit.
It might be that you have the talent and resources to make and market products of your own. Whether you’re brewing marmalade in your kitchen, or sculpting miniature figurines on your dining room table, there’s a customer-base out there for you.
As well as selling the things you create directly to paying customers, you might take commissions from businesses who need to get their brand across. Graphic design is something that you might already have a flair for – in which case, why not make some money out of it?
Of course, you don’t need to actually have a product in your hands in order to trade it online. Online trading comes in a number of different forms. You might delve into the world of crypto, or the more traditional stock market, or you might look into forex trading with the help of dedicated broker.
Bear in mind when getting into this kind of thing that there’s the possibility you’ll lose the entirety of your stake, and that you’ll need to do your homework before getting stuck in.
If you have a particular skillset, then you can use the internet to allow others to benefit from it. For example, if you’re a competent guitarist, then you might spend a few hours a week instructing other people. The same goes for more cerebral pursuits, like management or astrophysics. This is a popular side-hustle, as it leverages the skills that some of us have spent an entire career building up.