The world is currently undergoing a financial crisis due to the war and the repercussions of covid-19. The Russian and Ukrainian war is having a bigger effect on what people anticipated, raising the costs of many products including the necessities such as wheat, oil and carbon dioxide. Due to the events, people are struggling with the rising costs of their utility bills.
Now, many people are trying to find additional ways to earn money on the side or, put in extra hours to earn more. Thanks to the digital age, everything is a lot easier than it once was. If you have spoken to your grandparents about their younger days, you have probably heard them speak about them doing extra work at the weekends to pay for their bills. Now, 50 years on, we are looking at additional ways to earn extra and help pay for those bills in winter.
In this article, we will take you through the many ways you can earn an extra bit of cash on the side.
Buying and Reselling
One of the easiest ways to earn extra money is by buying and reselling certain products. Thanks to the likes of Amazon and eBay, this is very easy to do. Furthermore, it means we no longer need to go to car boot sales to buy and sell different items. Instead, we just need to worry about the packaging of those products.
When starting, you may need some start-up cash. Don’t worry, this doesn’t require a lot of money. It only depends on how quickly you want to increase your earnings. It doesn’t matter if you have $50 or $200 to start with. As long as you are purchasing the correct products and selling them for a profit, you are earning the additional income you need.
There are many ways to find products which you can resell for your business. One of those would be to visit charity shops to find cheap products which you can sell for a little more, or when you are moving home, have a good route through everything and sell anything old. This is a common method for many people as they are buying second hand clothing and selling it on Facebook marketplace and Depop.
Once you have your startup cash, spend a couple of hours a night finding products which are affordable and have the potential to be resold for extra money. You don’t need to spend hours browsing the web every night as it will become draining for you. Nonetheless, a few hours here and there during the week will be plenty of time to find the right products at the right price.
Time To Sell Those Old Phones
We are all guilty of holding onto old phones. It is something we all do and are unsure why. Why would we ever need to use an old and outdated phone again? The only reason would be in case your new phone breaks. Moreover, if you have a drawer full of phones you know you won’t be using, you should probably sell them.
You would be surprised by how much your phone is valued. We advise that you put all of the details of your phone on Music Magpie to see what they value it for. Once you have the value of your phone, you can either resell it on Music Magpie or do it yourself and sell it on eBay or Facebook marketplace. Although this is not a long-term solution, it is a great way to get a lot of cash in a short space of time. With this cash, you can then invest that money into buying and selling as we suggested earlier.
Consider Delivery Service
A delivery driver is another great way for earning extra. It is something that many people are doing if they have a driving licence. Companies such as PostMates and Quipup offer these opportunities so that you can start delivering these parcels.
Another thing that people are now doing is food service with apps such as UberEats, Deliveroo and Just Eat. These apps are great as you can decide when and how long you want to work. Furthermore, if you do an excellent job, you may get tipped meaning you will earn more money per week.
Make Use of Your Spare Room
Making use of your spare rooms is another great way to earn extra money. Many people are not renting out their spare rooms to earn money on the side. If you are happy and confident enough to rent out your room to strangers for a week, weekend, month or however long they need it then do it. The best part about this is you don’t need to decorate the room too much. All it needs is a bed, a storage unit for its clothes and then television. You will also need to provide clean towels whilst they are staying in your hospitality.
Social Media Management
Managing a social media account is another way to earn money. Think about it, social media is something that we use every day, well most of us anyway. Some of us use it to socialise with our friends and family. Other people will use it for their job to promote their business or other businesses.
There are a lot of businesses out there that do not have a social media presence. You should offer a service for these companies that don’t have a company profile on Facebook and Instagram. It is a great way to promote their business as well as interact with their customers.
Investing
Something really popular thanks to the digital world is investing money into stocks and the crypto market. Additionally, there are a lot of people who do this for their full-time job. Furthermore, you do not need to put a lot of time into this. All you need to do is research the stocks you are looking to invest in and then invest a little money. Additionally, Forex trading is something else you can do however, you must be aware of forex trading scams as these are highly common.
To Conclude
There are many things you can do to earn extra cash. All you need to do is create a bit of time in the week, it doesn’t need to be too long and then start your side hustle. Remember, the more money you invest early on, the more profit you can make. Another thing to remember is the number of hours you put into your side hustle could add to the profit margins as well.