10 ways to earn extra money on the side

Irrespective of whether you are a homemaker or someone who has a 9 to 5 job, additional income other than your salary and savings always help. Having some additional savings always is a stress reliever. It can be used to clear off credit card bills, or pay your mobile bills or simply help in buying your weekly groceries. In short, an extra income is always welcome! So here we are, sharing 10 such ways to increase your monthly earnings by way of some additional side income: 

1. Using your skills 

Do you have certain special skills other than your job skills? Are you good at offering advice – legal advice to firms, or advising on new approaches to setting up a business or helping a stat-up company? Consultation services are a great way to earn additional income whenever you have some spare time. 

2. Freelance

 When it comes to freelance, it can refer to content writing, designing logos or websites, or assisting people in filming videos for their projects, editing videos for a third party, etc. This can be even done by homemakers who have a talent, specific skills and spare time. There is plenty of work and all you need to do is look out for it. 

3. YouTube 

YouTube and creating video content for YouTube is a hot-selling job these days. if you are someone who is loaded with creativity, or you have some unique concepts, all you need is a good internet connection, a good phone camera, a tripod and natural light to get started. A lot of people with unique content are cashing in their creativity and there are no boundaries for creativity. Here, you earn as your followers increase, and earnings are by way of advertisements, collaborations and partnerships with companies. 

4. Monetize your Assets

If you have a car that you barely use or you may not be using it on certain days of the week, why not rent it out? Depending on the location where you live, you can earn a good amount per hour, by renting out your vehicle to companies like Uber, Ola, etc. you can also get your car registered with the airport taxi service and earn some extra bucks. You can rent out your house which is not being used. If you have a bungalow and you do not use an area of the house, you can rent it out as well. And yes, you can rent out your hair as well; there is a lot of demand for this in the wig industry! 

5. Tutoring 

This is job that is raking in the moolah these days! People who are good at teaching subjects like Mathematics, Science, or even languages can start tutoring students right at the comfort of your home. Be it subjects pertaining to school or higher studies (Accountancy, Business Maths, Statistics, Physics, etc.), there is a huge demand for tutors. There is a demand for online Tutors too, to teach languages like English, French, German, etc. 

6. Become an Insurance or Mutual Fund

Another way of earning some extra income is by becoming an agent for either an insurance company or a mutual fund, wherein you earn by way of commission on the business you generate. 

7. Monetizing your hobby 

Are you good at painting? or dancing? or singing? Then it is time to cash on your hobby! if you are good at recycling products, painting, etc., you can conduct hobby classes, summer camps, workshops or even created video content by way of tutorials and upload them on your YouTube channel.  

8. Start your business 

If you have entrepreneurial qualities and the skill set, you can start your own business. If you are good at baking and cooking, you can start selling your products from home. You can even provide catering services. Homemakers who are good with art, and have creative ideas can also start their own artificial jewelry lines, or clothing line. 

9. Invest your capital 

If you have some extra funds, in addition to your savings, you can invest this capital in shares, SIPs, etc., and earn some additional income by way of returns, rather than keeping the money idle in your bank account. 

10. Participate in Contests 

There a lot of contests being conducted on Social Media, wherein you can win cash prizes, or win trips or any kind of electronic gadgets and the like. This is a good way of earning few extra bucks in cash and kind.  

There are many more ways of generating extra income other than your salary and savings. The best way is to be well-versed in technology as it is the era of technology and the more aware you are of it, you come across more ways of earning extra money. All you need to do is use your creativity, existing skills, hobbies and work smart! We hope these simple and easy tips help you out in your daily life.  

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Yonita is the pillar of Client servicing at Moneyfront. She has worked with Citibank for over 25 years in operations and client servicing. In her stint with Citi, she has managed large service setups and her rich experience of banking spans across managing clients, operations, audits and compliance matters. She epitomises ‘client excellence’ in the true spirit of the word. Her motto and single-minded focus is to make sure every client is a happy client.

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