5 Ways to Earn A Second Income In Your Spare Time
Are you looking to gain a second income. So many people feel unsatisfied with their jobs. This often comes down to a variety of things, but one of the main sources of frustration for the average employee is their salary.
You might feel as if you earn nowhere near enough money for the work you do, or perhaps the problem is simply that your earnings aren’t enough to pay off your credit card bill each month.
One of the best remedies for this is to earn some extra cash. In this post we discuss how to earn a second income in your spare time.
5 Ways to Earn A Second Income In Your Spare Time
Start Freelancing
One of the best ways to earn a second income during your spare time is to start freelancing. You might have a particular skill that could easily be turned into cash. Perhaps you could even put skills from your profession to good use.
The great thing about freelancing is that you get to keep all of the profits too. Take a look at sites such as Fiverr. You can sell all sorts of services there.
You could write marketing copy for companies, or you could sing silly birthday messages for people. Freelancers sell all manner of intriguing services on that website.
Creating your own portfolio website is an option too. That way, you don’t have to pay any commission to anyone else, and you have more freedom with your business model. You don’t need to be a professional marketing expert or photographer.
You could make easy money by becoming a life drawing model if you wanted to do so. The point is that the world is your oyster. Find a good business model that works for you on a part-time basis, and start building a client base.
Rent out a property
This is a smart way to earn money for people who have a little bit of spare time and a spare room. If you own a house or a flat (or sub-letting is allowed within your contract), then you could rent out a spare room to somebody.
You could even buy a property to rent out if you want to fully commit to real estate development. You might even want to check out some Airbnb services. That way, you’d have professional help to manage any properties you decided to rent out.
Will Pointing from money saving blog GreatDealsMadeEasy.com rents out his spare spaces in his flat. He makes £125/ month for renting out his garage via storage broker stashbee.
He doesn’t have a car and is a bit of a minimalist (just a bicycle), so he was able to rent this space out to a stranger off the internet who needed it more than him.
Will Pointing also uses Airbnb to occasionally rent out bedroom if he is away. The key tip is to ensure your flat is clean and the lighting is good when taking photographs of your flat, to make it enticing!
Sell things online
Perhaps you don’t fancy freelancing when you already work full-time, and perhaps you don’t have a spare room to sell. However, you might have other things at home that can be sold.
It might be time to declutter your house and see if you can find any gems that would be worth selling on eBay.You could start upcycling. This is where you buy things online, spruce them up, and sell them for a profit. It can be a great way to earn a second income during your spare time.
Something like custom pin badges is a great idea. You can upload the artwork online, or you can also design it according to your own ideas. They are small, inexpensive, and suitable for any occasion and event. It’s a great opportunity for a good profit. There are lots of ways to make money off sites such as eBay, so it’s worth taking a look at the things you could sell if this is a money-making route which appeals to you.
You can start a small business from your home with a desktop laser engraving machine. It can be a part-time or full-time business to increase the number of income streams. There are tons of unique items you can make using a laser machine and then sell online on various platforms, such as Etsy, Amazon, eBay, and your own website. You can make customized wall hangings, home décor items, pens, wallets, keychains, invitation cards, rubber stamps, jewelry items, coasters, photo frames, engraved mugs/tumblers, toys, etc.
Earn a Second Income Blogging
A blog can be a great way to earn a second income! However, you need to know that making money from your blog doesn’t happen overnight! You need to put time, effort, research and (a small) upfront cost.
Blogging is my favourite second income stream because I’m working for myself and the income potential depends on how much I want to put in.
If you have an interest that you want to share with the world, and enjoy writing then I highly recommend starting your own blog! You can earn money as a blogger by writing about pretty much anything from personal finance (like Bee Money Savvy, to beauty (like Zoë Sugg), to equestrian (like Pink Equine).
The benefit of owning your own blog is that you can also promote yourself as much as you want. This could include all the promo codes and referral links you get when you sign up to a service. Below are some of the referral programmes that make me money on this blog:
Become An Online Transcriptionist
Who is a transcriptionist? Transcriptionist converts spoken language from audio-video files into text manually. The work is pretty simple but requires patience as well as a fast typing tempo – at least 250 symbols per minute. It is necessary to write down what people say quickly. Transcripts are needed, for example, to post the text of what was said on the radio or from any other media. Sometimes speakers and lectures order transcripts for further work. There’s also an option to transcribe website video content. If the transcriber knows foreign languages, it’s possible to transcribe recordings in different languages.
Market Research
Taking part in market research interviews and focus groups can create a great second income. You can expect to earn anything from a small fee for a 5 minute chat to £50-£100 for chatting to someone online for an hour or so!
A popular site for market research recruitment is Respondent. Additionally, Code 3 Research and Bunnyfield are always looking for new participants.
Now that you’ve figured out which side hustles you’re keen to try, be sure to collect and store your pay stubs somewhere safe. You can request for these pay stubs from the HR Department of the company. But if you’re the boss of your own business, you can create pay stubs easily with the best fake pay stub generator. They provide excellent customer service and many kinds of pay stubs templates to choose from.
Having a second income can, in many cases, vastly improve your quality of life. Earning extra money will allow you to pay off any debts, save for big purchases, and allow you the freedom to do more of what you enjoy.
There are tons of side hustles, investment choices, and work from home opportunities you could consider when it comes to adding to your income.