With the growth of technology and advancements in opportunities, making money outside of your nine-to-five has become more possible than ever before. If it’s writing, selling products, or consulting you can likely find a way to sell what you have to offer. Should you find yourself in need of extra income, this article will detail several ways to earn extra money that can be used to better your financial situation. Whether it’s debt elimination or saving for retirement, these extra dollars can be put to work.
The first way to generate extra revenue is to begin flipping items. This is finding items at garage sales, thrift stores or even in your home, and selling them for a profit. Currently, many people are making money by flipping sneakers, sports cards, and even items such as stuffed animals.
With flipping items, it’s important to understand the market and know what to look for. This can take some time but with more experience comes the ability to decipher between profitable products and non-profitable products.
Secondly and growing in popularity is the freelancing market. These are individuals who have skills that contracted out, and compensated for accordingly. Included in the freelance market are programmers, virtual assistant, web developers and copywriters.
Should you find that freelancing is right for you, there are a couple places to begin marketing your talents. The first is Fiverr.com, which allows you to post a gig and from there, people will contact you should they need your work. One of the aspects of Fiverr that you’ll need to consider is you’ll have to market your services and attract buyers.
The other platform many freelancers utilize is Upwork.com, which works similar to Fiverr but instead of post your freelancing services, you apply to jobs people have posted. If you are newer to the freelance market, this may be a more effective way to gain experience, which in turn can increase you sales and revenue.
Last on our list of ways to earn revenue outside of work is to open an online store. This allows you to sell products that you’ve made or inventory you’ve bought and begin earning a profit.
The first method in online selling is drop shipping. Drop shipping is when you build a business, sell a product, and when you sell a product the order goes directly to the supplier and they ship the product. This eliminates the need for you to have inventory and simply puts you as the middleman between the buyer and supplier. There are startup costs but if you have the time and money to learn the process, this is an effective way to generate extra income.
The second method to selling products online is through an Etsy store or eBay store. If you are an artistic person and make crafty projects, you can sell your creations on Etsy. This platform is geared towards custom products that are handmade, and allow you to generate extra income. If you enjoy Christmas, consider building a store that is geared towards the holiday season or if you enjoy summer, build a store that is geared towards summer décor such as garden ornaments.
Other areas of the marketplace to consider include affiliate marketing, which is simply driving people to a product through a link you provided. If an item is purchased, you will typically receive a portion of the sale. Also, by simply having a garage sale you can quickly build a small cash reserve and use that to start an online business.
The Internet has made it easy to earn revenue outside of your traditional day job. Many times you can make your business nearly self-sustaining, which is a wonderful way to have a passive revenue stream. These methods take time to earn a steady income, but once started can provide a welcome relief to your cash flow.