The cost of living is increasing in cities around the world. The rising price of goods and housing puts an added strain on families, especially during this pandemic. To tackle this issue and increase savings, side-hustles have become increasingly popular in recent years. A side-hustle basically refers to something you do on the side to earn extra income. It’s a great way to monetize your skills and supplement your earnings.
If you’re looking for ways to supplement your income from home, here are some ideas to consider.
1. Start freelancing
You can monetize your skills and offer your services as a freelancer to earn extra income on the side. If you’re an avid writer, you can offer to write articles, blog posts, newsletters, and social media captions for businesses and content creators.
Start by creating social media pages (e.g. Instagram, LinkedIn) and position yourself as a freelancer. Specify the services you offer and create content related to your niche regularly to generate inbound leads. In addition, you can work on creating a portfolio with samples of your work to show prospective clients.
When I first started out as a freelance writer, I used my blog as a portfolio of sorts. When clients asked to see a sample of my work, I would direct them to relevant articles on my blog, so they could get a sense of my writing style. You could create a free website on Wix or other platforms to showcase your work, whether it’s writing, photography, art, or others.
If you’re interested in freelancing full-time, here’s a sneak peek into a day in the life of a freelance writer, with a list of pros and cons to consider.
2. Write an e-book
Using your particular set of skills, you could write an e-book that would be helpful for others. For example, if you’re a certified financial planner, you could write an e-book about personal finance basics to guide young adults. If you’re an expert on nutrition, you could write an e-book about meal planning with easy and nutritious recipes for busy millennials.
Start off with an outline. What do you want to cover in your e-book? Break it down into individual chapters and get started on any research that needs to be done. Once you have everything you need, start writing! Get a friend or two to proofread your first draft and make any necessary amendments. Finally, you can use Canva to design a beautiful and attractive e-book cover.
You can sell your e-book via social media and your website, or even self-publish on Amazon. This can be a great source of passive income. It’s a one-time effort to create this product and thereafter, you can enjoy the earnings from it indefinitely. However, you will need to regularly market your product, perhaps through social media or advertising, to spread the word and get sales.
3. Create a course
Another way to supplement your income is to package a course for a specific target audience. It could be in the form of a workshop, a series of Zoom meetings, or even pre-recorded videos uploaded on platforms such as Thinkific or Skillshare.
If you’re a web designer, you could package a course on creating a website from scratch for beginners. If you’re a photographer, you could package a beginner or intermediate course on shooting and editing pictures.
Bear in mind, packaging a course takes time. You need to develop a course outline, plan your lessons, develop teaching materials, record and edit your lessons. However, if you have a passion for teaching and helping others, this would be a great, fulfilling way to earn some extra income.
If you’re working on a series of pre-recorded videos for your course, you can use Active Presenter, a screen recorder and video editor tool, to create video tutorials. There’s a free edition available for both Windows and macOS.
4. Take up gigs on platforms such as Fiverr
If you’re a good writer, artist, illustrator, or musician, why not offer your services on platforms such as Fiverr? Nowadays, more and more people turn to platforms like Fiverr to find unique services such as composing an intro song for their YouTube channel, designing a logo for their brand, or illustrating a book cover.
I once hired a talented musician to compose a song for my husband through Fiverr, and I’ve been in love with this platform and the power of the gig economy ever since! So, if you have a unique talent or skill, market it online and earn some extra cash doing something you’re good at.
5. Start a blog (and then monetize it)
This is right up my alley! If you like writing, and you’re passionate about a specific niche like lifestyle, travel, or fashion, why not start a blog and write articles related to your niche?
Disclaimer: It takes time to build an audience. You can do this by promoting your blog posts on social media, guest posting on other blogs, search engine optimization (SEO), and even advertising.
Once you build a small audience, you can start to monetize your blog. There are several ways to do this, including:
Affiliate marketing. Sign up for an affiliate program like the Amazon Associates Program. Share links for products that you like and recommend. You earn a commission when users click through and purchase something using your link.
Launch an online store and sell digital products. With Wix, you can easily set up an online store and sell digital products like planners, printable PDFs, e-books, and workbooks on your website.
6. Become a tutor
In your spare time, you can tutor students in subjects that you’re good at. You can do this by spreading the word in your neighbourhood or through social media, so people can contact you if they need a tutor. Alternatively, you could also consider tutoring online through platforms such as Tutor.id.
This will require quite a bit of commitment in terms of time as you’ll need to familiarize yourself with the subject material, syllabus, plan your lessons, and maybe even review homework assignments from time to time. But again, if you’re passionate about teaching and helping others, this could be great for you!