The following post is by DW from GreatPassiveIncomeIdeas.com, a website that is all about exploring the thousands of ways you could try to make money on the side, all while keeping your day job!
Saving money can be hard. You pay attention to your budget, cut out the things you don’t need, and stash your money away exactly as you’re supposed to do.
But yet it’s not enough. It’s taking forever to reach that savings goal of getting a new house, new car, or whatever it is you want. And when things move that slow you can start to feel like all your efforts are for nothing.
I used to have the same exact problems with my own financial goals. Then one day when I got a cash-back check for $100 from my credit card company, it hit me: I’ve been doing it all wrong!
I shouldn’t be figuring out how to take more things out of my budget. I should be trying to make more money on the side so that I can reach my savings goals that much faster!
The idea is simple and brilliant. But what exactly is one supposed to do to actually pull it off?
Easy Things You Can Do to Make Money on the Side:
You probably don’t realize this, but you’ve likely already got the right ingredients to be making a side income without even knowing it. Lots of people have hobbies that could make money if they were used to their full extent.
Here’s a few easy ones to get you started:
- Investing. This is by far my most favorite money-making hobby. I love to learn about how to grow my money! Reading up on the best stock tips, tax savings strategies, and dividend growth strategies are all things that will put money in my pocket without a lot of extra effort. Plus if I was really ambitious, I could offer my services to others for a fee and get paid for what I know about investing.
- Sports / Fitness. Anything involving physical activity is always a great money making side project. Why? Because people are always looking for a coach or mentor to help make them better at their sport or lead a more healthy life style. Even if you were to teach an aerobics class or work as a trainer, it can help you to provide a paying service to others all while getting you in shape!
- Writing. The Internet is full of people who need things written. Websites, books, marketing materials, you name it! If you have any talent or ambition whatsoever to dive into a particular subject and make it sound like you are at least half-way knowledgeable about the subject, then there are money making opportunities out there for you.
More Advanced Ways to Earn a Side Income:
The great thing about earning money on the side is that you can take it at your own pace. So if you’d like to take things to the next level, there are plenty of ways to earn residual income where you could find yourself with a four to five figure monthly payout.
Here are a few good ones to try:
- Blogging. Blogging continues to be a very lucrative way to earn a decent income on the side without a ton of extra effort. By simply owning your own website, you could find yourself selling advertising space, receiving money for visitors clicking on your links, or it could even lead to other paying gigs (such as writing for other blogs).
- EBooks. It really doesn’t take much for the average person to draft and publish a quality eBook that can be made available to thousands of people each day. If you have a lot of knowledge on a particular subject and are willing to craft it into an instructional-type of package that other people will find useful, then you could potentially sell that product on Amazon and make residual income for a long time to come.
- Affiliate Marketing. This strategy takes a little more effort but could be well worth the time invested if done right. Lots of webmasters and content marketers who are able to the professional products of others will receive a cut of those monthly sales and find themselves making a decent sum of cash on the side for doing so. The best example I can think of for this is how Pat Flynn from Smart Passive Income makes over $40,000 some months just for promoting the web hosting company Blue Host on his site. That’s not a bad return at all!
Readers – What do you do to make money on the side so that you can reach your financial goals quicker?
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