By Holli Ronquillo
In the current economic environment, many people are looking for ways to supplement their income. Having a secondary source or revenue can make a big difference for those looking to boost savings, increase job security, or even survive a job loss. There are many ways to earn extra income; here are just a few ideas to get you thinking.
Remember Your Skills
What skills do you have? Think about your education, the skills you may have acquired at your current and past jobs, or skills picked up on the side. This can help you brainstorm a good side income.
Good with kids? You may be able to do in-home daycare or nanny for someone. Are you good at sales? Selling a specific type of product may work for you. The possibilities here are endless and could include selling scrapbooking supplies, facial care products, or candles. Other options that may be in line with your skill set include graphic design work, computer coding, web design, tutoring, freelance writing, house cleaning, or transcription.
Discover potential income in your hobbies. What do you enjoy doing that you could make a little money? Many people have successfully turned their passion or hobby into a profitable side income. Whether you enjoy photography, baking bread, or sewing, you may be able to make an income from something you already enjoy doing.
Word to the Wise
There are several things to keep in mind while researching your side income. First, you should never pay someone for work opportunities. Legitimate companies don’t ask you to pay for job leads; they pay you. Most that ask for money up front are scams, so stay far away from those.
Second, working for yourself requires plenty of motivation. You’ll probably also be learning new skills and abilities. It can be an opportunity for growth, but don’t forget that it can be a lot of work at first. Many people expect to find a side income that requires little or no effort, and those jobs just don’t exist.
Finally, be sure to research the business end of your side income. Does it require you to purchase expensive equipment or products? Do you have a good plan for generating income and marketing your products or services? And don’t forget the self employment tax, which is currently 15.3 percent.
Finding a side income to supplement or replace your current income can be hard work, but it can also be very rewarding. With a little research, most people can find a side income that works for their situation. The extra income can be invaluable for families who have gone through a job loss or who are looking to save a little extra during hard times.
Need Ideas for a Side Income? Consider these.
Domestically Skilled
- Baking – Cake Decorating
- Catering – Make desserts for a local restaurant
- Personal diet chef
- Bed & Breakfast
- Childcare – Consider offering a group care a few times a month—maybe a Friday night.
- Cleaning – Commercial or Personal
- Meals to go
Computers
- Blogging
- Building internet businesses to sell
- Computer coding
- Graphic design
- Online media consultant
- Sell photos online
Crafty
- Furniture making
- Jewelry making
- Refurbishing old furniture
- Sell on Craigslist or eBay
Outdoors
- Auto Detailing
- Landscaping
Hobby- Job
- Consignment buyer
- Event Coordinator- Weddings- Anniversaries- Open houses
- Pet sitting/grooming
- Produce selling
- Scrapbook Making
- Sell handmade products on www.Etsy.com
- Trained Careers
- Freelance writing
- Photography
- Transcription
- Tutoring
Local Part Time Jobs
- Market research/focus groups
- Virtual assistant
Resources
eLance (http://elance.com) A bidding site where you can find many types of jobs—web and programming, design, writing, administrative support, sales and marketing, finances, legal, and engineering.
RentaCoder (http://rentacoder.com) Bid on all kinds of jobs—software related, graphic design, marketing, virtual assistant, and writing.
WAHM.com (http://wahm.com) For work-at-home moms (and anyone else), this site has tons of information and job leads related to working from home.
Dumb Little Man: 40 Ways to Make Money on the Internet
(http://www.dumblittleman.com/2006/10/40-ways-to-make-money-on-internet.html) Big list of income generators.
eBay Selling (http://www.sparkplugging.com/ebay-ecommerce/) Tips for selling online.
