Who couldn’t stand to earn extra cash each month? Problem is, you may have the desire but not the extra hours to take on time-consuming work. Fortunately, in this digital age, there are lots of side hustles and money-making strategies you can employ to make some extra cash each month. Here are experts’ suggestions on how to do just that.
Become a Virtual Assistant
One of the easiest side hustles for the computer-savvy is to become a part-time virtual assistant, said John Li, co-founder and CTO of the lending company Fig Loans and a financial expert.
“The role can pay you as much as $25 per hour and you can sign up one client for a few extra hours and bump up your client roster if you want to take on more.”
Virtual assisting is especially good for stay-at-home parents and anyone who is short on extra time because you’ll have no commute. “Better yet, it doesn’t require highly-specialized skills, and as long as you have some basic computing skills, you’ll be ready to get started,” he said.
Due to the pandemic, many businesses are expanding their online presence right now, driving the demand for this role up significantly, he said. “Getting your foot in the door when demand is high and working based on your own availability makes starting this side hustle a breeze.”
If you have a skill that can be useful to others, from graphic design to SEO or IT skills, “[f]reelancing is the best option if you want to earn some extra money,” said Daniel Javor, founder and CEO of Deep Blue Ventures, a site that helps companies get started. You can take your skills to sites like Upwork and Fiverr, where customers come seeking specific tasks and skill sets. Javor said you can often earn quite a bit more than $1,000 per month.
Marilyn Gaskell, founder and business leader of TruePeopleSearch, a U.S.-based tech company, pointed out, “In 2020, when the pandemic hit hard, many people lost their jobs and… switched their interests to freelancing, and now they are their own boss and earning a handsome amount monthly.”
Create a Product To Sell
If you don’t have those skills, you can try creating a product to sell, Javor said. “A good example would be creating custom made phone cases. There are phone case making starter kits that you can purchase for little money.”
To be successful at selling a product, he said, is to create something that solves a problem you have. “If you have a problem, perhaps related to the new COVID world, other people have the same problem. Find a solution and become an entrepreneur. Maybe your side hustle will turn into a million-dollar company.”
Editing and Proofreading
With the job market rebounding from the pandemic, many people are looking for new jobs and even more business owners are looking to fill positions, said David Aylor, founder and CEO of David Aylor Law Offices. This means people need help getting their resumes in shape.
“If you have great English or writing skills and know your way around a resume, you can make some good money editing even just a few resumes per month,” he said. This side hustle is also light on monetary output. “You’ll need strong grammatical skills and virtually nothing else–you can even take a short course on resume editing if you want to brush up your skills in this arena.”
Those just starting out can charge around $20 per hour and increase this rate as you build experience. “You can pick up this business and drop it as needed for fully flexible hours.”
“In the same vein, with a similar set of skills, if you have a strong understanding of grammar and can’t read a page without getting distracted by every typo, you may want to consider a side hustle proofreading and editing documents,” said Minesh J. Patel, a lawyer and founder of The Patel Firm.
Lawyers, paralegals, bloggers, writers and all sorts of professionals need to ensure their essential documents are perfect but they don’t always have the time to take a fine-toothed comb to every single piece they write, he said.
“You don’t need a degree to do this job and can make great money.”
Affiliate marketing is one of those long-term side jobs that pays nicely, said Tim Davidson, president of Car Title Loan Lenders, which provides resources for consumers who want to learn more about title lending. Affiliate marketing is a model where a company pays a third-party entity or person to help them drive traffic or leads to their products or services. You essentially get paid to promote, often through a website of your own.
“However, before you can start generating money with affiliate marketing, you’ll need to go through a learning curve. It’s not just about finding the appropriate goods to sell; it’s also about partnering with the right brand.”
A great way for people to earn an extra $1,000 a month is to sell insurance on the side, according to Tim Connon, founder of ParamountQuote Insurance Advisors. “Insurance has become very friendly to tele-sales and the contract levels offered by carriers make it very easy to earn an extra $1,000 in commissions.” He said it can take as little as two sales to earn $1,000, and you can do your calls during hours when you’re not working a regular job.
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