Personal Finance: 5 Tips for Earning Extra Money

by Josh Biggs in Finance on 6th September 2021

By 2020, the global gig economy was valued at $296.7 billion, with projected 17% growth by 2023.

You work hard the whole month to earn some money, only for your bills to scoop them away in a flash. You have goals that you’d like to achieve, but your current financial status can’t allow it.

You also can enjoy the flexibility and convenience the gig economy has to offer. 

If you have been looking for ways to monetize your hobby or skills, this article is for you. Read along as we divulge five tips for earning extra money.

1. Freelancing

Freelancing is whereby you avail your expertise to others through platforms such as Fiverr and Upwork. The internet opened up the world to become a global village. No matter where in the world you are, you can make money off the internet.

SEO specialists, web and graphic designers, virtual assistants are some of the most coveted on-demand skills. There are many available resources online that you can use to learn such skills.

2. Affiliate Marketing

This is when an online retailer pays a commission for external traffic generated by another website.

You can decide to review products of a specific niche for your blog then attach the online stores where readers can buy. Amazon has a program where you create an amazon associate account to track your earnings every time a purchase is made from your link.

3. Design Courses

The internet has become a valuable resource for sharing and gaining knowledge. You can curate and design a course to teach people skills or hobbies you’re passionate about. Platforms such as Udemy and Skillshare allow anyone to publish a course that you can be earning from when people buy.

4. Own an Etsy Shop

Esty is an online marketplace where people sell and buy handmade and unique items. If you’re a photographer or graphic designer, you have the option of selling downloadable prints. Ensure you take quality pictures of your products.

5. Earn Interest on Your Savings

Saving some money in a fixed account can generate interest annually. You can earn some passive income when you have a diversified investment portfolio such as real estate.

There are many resources you can learn from on the internet by typing “how to invest properly” in your search engine. You can also get personal finance tips from Grant Wydeven to enrich your knowledge on how to budget your earnings.

Elevate Your Financial Status by Earning Extra Money in Your Free Time

Earning extra money is appealing, but do you know how to budget for your expenses? It’s important to know where your money goes and how you can streamline your habits to accommodate the money you have. The above tips will be a good starting point for your quest to earn more money.

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Categories: Finance