Do you often feel as though you don’t make enough money? Maybe you don’t make enough for the lifestyle you want to be living, perhaps you are just barely paying the bills, or maybe it’s more about the fact you feel you deserve more for the job you do. If you can relate to any of these feelings, then you are among the majority of Americans who need supplemental income. According to statistics, only 19% of Americans think they are making enough money in their job, which is a rather staggering figure. That same survey went on to show that at least 60% of participants feel that they need a raise of $6,000 or more to feel fairly paid.
Unfortunately, asking for a raise doesn’t always prove fruitful. And for many people, the idea of looking for a new job is just as dismal. Maybe there aren’t a lot of opportunities in your community or your chosen field, or perhaps you like other aspects of your job and you aren’t willing to give those ups. Whatever the reason, a supplemental income can end up being a good solution. It provides you with that extra bit of income that you are missing out on and can help you to feel more satisfied all around.
Here’s a look at seven ways you could start to make a supplemental income.
Consider Investing and Trading
If you are up for a little risk-taking and don’t mind putting in the time to do some research and learning, then it may be that investing and trading could be a great idea. Now, obviously, you will need cash to start with, but the idea is that the cash will grow over time. This route is meant to provide results in the future and not so much immediate access to profits.
Money Calendar Pro is a tool that may be worth looking into, as it can help guide you in the right direction. Created by Tom Gentile, a top trader in the U.S., it is meant to be an educational tool that helps beginners break into the stock market.
Look for a Part-Time Job
For those who don’t have the cash to invest, or don’t have the time to wait for those investments to grow and be profitable, a part-time job could be a better solution. This will provide you with immediate access to supplemental income, and it will also be in your hands how much you make since you will decide how much you want to work. Even if you just choose to work a few hours on the weekend, when you look at that income over the month, it could be enough to fill the gap.
Open Your Own Business
Maybe you aren’t ready to give up on your day job, but you don’t like the idea of being locked into a schedule with a part-time job. If that’s the case, then opening your own business from home can be the perfect middle ground. Think about what you are good at, what you have experience in and what interests you, and think about ways it can make you money.
Some great examples include consulting services, blogging/writing, editing, and IT/tech support. You will also need to think about how you will advertise your new side business. Typically, online advertising is the most cost-effective way to go about getting the message out.
Sell Things Online
Another route that can prove to be profitable is to sell things online. Maybe you like baking, making clothing, creating jewelry, have a knack for craft projects, woodworking, etc. Why not take that hobby and turn it into a money-making online business? You can list your items on online buy and sell groups, in local craft fairs, and even create your own Facebook page and/or website. Again, you are the one setting the hours with this job as you can sell as little or as much as you want.
Invest in Real Estate
This is ideal for the person who has some extra cash and is looking for a way to help it to grow. Investing in real estate is often seen as a very safe investment. It will take a while for you to start seeing significant profits but over time, the idea is that the property will appreciate in value.
This route requires a lot more planning and thinking on your behalf though. If you plan on investing in a property that you want to rent out, then you also have to think about what’s involved in being a landlord.
Provide a Valuable Service
This one is basically a combination of starting your own business and getting a part-time job. There are a number of services that you can provide to people that they will happily pay for, thereby earning you supplemental income. These can include such things as dog walking or sitting, house sitting, photography services, maid services, catering services, and so much more. Just think about ways you could make a person’s life less busy and stressful and then create a job around it.
Use Your Car to Become a Driver
If you have a car then you may even want to think about becoming a driver for one of the many ride-sharing companies out there today. You will be in full control of your hours and you can make a fair amount of money as a driver. Statistics show that a typical ride-sharing driver working 20 hours a week can make about $50,000 a year.
There’s No Reason to Feel Stuck in Your Current Financial Situation
When you aren’t making enough money to get by or allow you to live the lifestyle you dream about, it’s hard not to start feeling down and depressed. Financial stress is a very real thing that weighs on people and affects everything they do. The great news is that you are in control of the situation, and with a little creative thinking, and work on your part, you can start to earn a supplemental income that will fill the gap.