Very few people will ever get to the point where they have enough money. Most of us will work our entire lives, scrimping and saving along the way to try and retire at a decent age.
One of the biggest problems with trying to earn extra money while working a full-time job is time. If you want to increase your income, you need to put in at least a little time and that is difficult. Luckily there are a few ways you can earn money and not spend a ridiculous amount of time doing so.
Freelancing
If you have skills in a particular area, you might be able to be a freelancer. A freelancer is a type of contractor, where you seek jobs from clients who need help and your skills meet their needs. Many people do freelance writing, they will write all the content a business needs for an hourly wage or lump sum for the entire project.
If you are able to market yourself well, you can complete some freelance jobs and start building a portfolio. This will allow more work to be able to come your way. Now, this may not necessarily be a short task. Many freelance jobs are lengthy and require a lot of time, so make sure you plan that will.
Rental Property
If you have a property you can rent out, then you might be able to turn that into increased monthly cash flow. Property ownership is not a small task but can be lucrative. You are making money each month, as well as any deposits or fees you charge up front.
There are definitely costs associated with owning rental property. You need to make sure your property is nice enough to where someone will actually want to live there. You need to make sure all the correct fees and taxes are paid. Repairs aren’t cheap either.
It is also nice to be able to set the amount that you will charge for rent, and to get a deposit, and to set the rules. If you live in an area where rental rates are higher, then that will generally work in your benefit, though that could also mean higher costs on your end as well.
One of the best ways to help with property ownership is a property management group. You usually pay them a monthly fee, and they take care of just about everything. This definitely helps with the aspect of time mentioned above. Check out www.rooftoprentals.net for a perfect example of such a company.
Tutoring
Do you have skills in a certain field or discipline? You could become a tutor. Tutors are great because you are not the actual teacher, you are just there to give additional help. You can go in and build on the knowledge already gained in your pupil.
Some pupils will be harder to teach than others, but generally, people who get a tutor want help. You can set a billing rate and share your knowledge. If it is a subject you really like, it may not even seem like a ton of work at times.
Consulting
Consulting is like super tutoring, but for businesses. Consulting is for those who are very skilled, real experts in a field or discipline. You would be hired to go look at problems or situations within a business and come up with a solution.
Some consultants are brought in for a certain project, others are more like problem solvers if there is an issue with structure or quality of work. You can make a full-time living off of doing consulting work if you are good at it and have the necessary experience.
Driver
The era of Uber and Lyft is here. I mean what could be more appealing than picking up strangers in your car and driving them around?
In all reality, you can make good money off of doing so. This works by you receiving a notification that someone wants a ride. You can accept the ride, and then go and pick them up. From the time they get in the car to the time that they get out, you are earning money. You make money for the distance traveled, or time depending on the service.
The companies usually take between 20-25% per fare, leaving you the majority share. You should look into the specific rules and processes before signing on to make sure you are well aware of how things work.
Conclusion
There are plenty of ways to make money outside of your 9-5. Keep on the lookout for opportunities like this, though this is a far from a comprehensive list. If you are savvy and put your skills to work, there are many ventures that can turn you a profit.
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