With many parts of the globe announcing inflation, side hustles have become a necessity for most people to make ends meet. The easiest way to meet your financial goals and work towards your wealth vision is by having other income streams. Here are a few ideas on how you can improve your cash flow:
The best way to quickly make money is to offer value. We gain a wide variety of skills from the moment we join schools. All you need to do is find out which of your skills is a strong point for you and who would need it. Side-hustling teaches you to also present yourself, sell your skills and identify market demand for your skillset. This is a definite must-try for personal and financial growth.
2. Make deliveries
Food, documents and online purchases are among the most common items on delivery nowadays. Depending on who you approach, you can get some cash for sorting out someone’s logistical issue. In fact, this is one of the few side hustles that supports other people’s side hustles.
So if you’re headed to town every morning and your friend gets online orders he/she needs to deliver, you could both agree on a delivery fee to be paid and set the delivery point to the town.
Or you could use your lunch break to leave school or work and deliver someone’s documents or items. Perhaps even do the shopping for your neighbour at an affordable cost during weekends. This gets easier if your daily routine favours it.
3. Sell handmade gifts
There’s quite an open window of opportunity for selling what you make. If you’re gifted or skilled in making an item, all you need to do is take a picture or video, upload it online with a price to it and see.
We hardly wish to give generic gifts to our loved ones or to appreciate someone. Going the extra mile financially to get that unique handmade piece is a go-to option for many who can afford it (and you can make a killing from this). Handmade gifts are sentimentally valued and therefore learning or utilizing how you can create such and sell them can earn you quick bucks during your leisure time.
4. Rent out your items
Find out if any equipment or tools that you don’t use as often are still usable. You may need to insure some and also assess the current state. Hire out items to people who may need to use them and cut deals that you can both agree on. Machines, gadgets and accessories you don’t use every day and are not so expensive can be moneymakers for you.
5. Work extra
You could pick up extra work by working overtime to get an overtime bonus at work. You could also negotiate how you can get paid for work other than what you do within regular hours. An alternative way to work extra is by doing an hour’s work for someone or filling in for someone who’s absent and agreeing on how much they can pay you per day or week.
6. Fix and repair items
It’s pretty clear that a majority of people would rather fix that glitchy phone or stitch up something rather than buy a brand-new one. Knowing how things work comes in handy when you know the right price to fix them. And the better you get, the more you get paid for handling complex fixes.
Since you’ve read this far, we’ll treat you to one more way you can earn more. You can earn interest on your money. By saving your money in a Money Market Fund where it will accumulate interest* or lending out your money at an agreed interest rate, your own money is put to work.
Lending money, however, is a risk that you need to know whether you can handle. Nevertheless, the underlying wealth principle is that you don’t have to work for money if you can make money work for you.
Comment and let us know what side hustle you’ve tried out that has earned you extra money.