Are you wanting to generate a side income?
Side Income Introduction
Try taking on a side hustle to boost your income and get an additional stream of income. On of the more popular ways to do this is through taking on a casual job. I hold a part time job and occasionally take on a casual job in additional to the full time work in order to generate a higher income. This enables greater flexibility by choosing the additional hours that you work. You may be thinking how your skill set can earn you an additional income?
In this article I will outline the top three methods that I have used over the years to easily start generating a side income. These ideas generally do not require you to up-skill immediately and therefore can easily be started from now. You may in the future want to specialise that would enable you to command a higher rate for the services and experience that you offer.
Top 3 Side Income Ideas
I have outlines some of the methods that I have used to generate additional income over the years.
- Second Job This could be casual weekend work at a local grocery store stacking shelves, working at the car wash or even working for labor hire firms. All these different casual jobs has enabled me to generate an additional income whilst either studying or working in another field. By increasing your monthly income you can gain greater flexibility in your budget for travel or saving to buy your first home.
- Working as a freelancer – This could be an additional qualification that you have or a passion project which you can offer your services to others. Websites such as Fiverr or Airtasker can enable you to connect people seeker services or tasks to be completed with providers. By joining with the above Fiverr invite link you will get 10% off your first purchase. The tasks I have previously completed have ranged from casual labor work to completing tax related services to clients looking for preparation of their tax returns.
- Online Paid Surveys – One of the easiest ways to earn extra funds through survey websites is through Pureprofile. This is a websites that pays you for your opinion on different topics. You can complete 5 – 30 minute surveys that offer rewards for completing the surveys. After earning $20 you can cash out the reward for funds deposited or exchanged for a gift voucher. To get started, head to the Pureprofile website and use the bring a buddy invite link to start earning.
Growing your revenue streams
The people who spend time growing their income streams have greater diversification and distribution of their wealth. If something were to impact my main job I would like to have the comfort of having a backup plan. Therefore, I find it rewarding spending some time planning and putting buffers in place in case of an unexpected event. Even though on their own these incomes may not support a full time wage. It can be a foundation that can supplement your income. Alternatively it can assist when you have some downtime and are looking to earn more during your week. Growing you review streams can take time and are not passive income ideas. However with active time spent increasing the capital base you can grow and increase these revenue streams. However over time if you have specialised your services there may be scope to charge more for your time or offer flexibility in the hours that you work.
Side Income Summary
There are many different ways to earn a side income. I have outlined above three ways that have enables me to earn a side income whilst working full time. You can choose to start taking on a casual job, complete freelancer project or online surveys from home. These different services could provide greater flexibility in planning more events that you want to do in your free time. Whether that be investing in the share market, planning the next holiday or saving for a house. These additional funds can aid in getting to the financial/lifestyle goals sooner. If you are interested in learning other ways to generate a revenue stream read some of the other articles on the Wage Investor Blog that can help you to achieve financial independence.
