Being laid off or underemployed can be a major financial setback, and it can be hard to see a way out. But you might be surprised by the opportunities out there to earn money on the side and help make ends meet. Manage That Money has provided some essential advice and 10 practical ideas for bringing in some extra cash during this challenging time:
Building your skill set
Returning to school for a degree can be a daunting task, but it’s often worth it in the end. You can improve your prospects and set yourself up for a successful career. If you’re interested in IT work, getting a CompTIA certification can be an excellent way to improve your skills and knowledge.
Starting a company
Starting a business can be a great way to make extra money. There are many benefits to starting your own business, including the ability to set your own hours and make your own decisions. To start a company, there are a few steps you need to take.
First, you need to come up with an idea for a business. Next, you need to do some research to see if that business is feasible. Once you have determined that it is, you need to create a business plan, get funding, and establish a legal structure. Setting up an LLC can help protect your assets and yield tax advantages, among other perks. If you want to save time and stress, hire a formation service to do the heavy lifting.
8 money-making ideas
Along with developing your skills and considering the benefits of starting a business, start researching other ways to boost your income. Here are eight ideas to get you started:
1. Offer pet-sitting services.
If you love animals, this is a great way to make some extra money while spending time with furry friends. You can advertise your services on pet-sitting websites or through word-of-mouth.
2. Be a freelance writer.
There are many opportunities to write articles or create content for blogs and websites. You can search for writing gigs on job boards or freelancer websites.
3. Rent out a room in your house on Airbnb.
If you have an extra room, why not put it to good use and make some money by renting it out to travelers? This will allow you to set your own price and schedule, and guests will book their stay through the Airbnb website or app.
4. Offer your services as a virtual assistant.
With more and more businesses operating remotely, there’s a growing demand for virtual assistants to handle tasks such as scheduling appointments, answering emails, and social media management. If you have a knack for administrative duties, this might be a superb option.
5. Walk dogs in your neighborhood.
This is an excellent way to get some exercise while making money — everyone wins! You can promote your dog-walking services by passing out flyers or talking to people in your community who might be interested.
6. Provide home-cooked meals.
If you enjoy cooking, you could start a small business making and delivering home-cooked meals to busy families or individuals who don’t have time to cook for themselves. You’ll have the opportunity to learn new cuisines along the way!
7. Give music lessons.
Are you a musician? Why not give music lessons to kids or adults who want to learn how to play an instrument? You can advertise your services online or by word-of-mouth to quickly build a client list.
8. Participate in paid focus groups or surveys.
Companies are always looking for consumer feedback about their products and services, and they’re willing to pay for it! Consider signing up for paid focus groups or surveys through market research companies like 20/20 Research or Survey Sampling International.
Wrapping up
There are many ways to make extra money on the side, even if you’ve been laid off or underemployed. From pet-sitting and dog-walking to taking online surveys and giving music lessons, there’s sure to be an option that fits your skill set and interests. So research potential degrees, get creative, start earning, and ease your financial worries!
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The article is written by Ted James, who wanted to share this helpful information with us.