Earning extra money alongside a full-time job is becoming more and more popular over recent years. In fact, around 40% of people from the UK and 37% of Americans now have a ‘side hustle’ — a method of earning extra cash on the side of their day job. If you’re interested in earning a second income, there are so many routes you could take. To help you decide, here are a few of the most popular ways to earn money alongside your day job.
Investing in property is one of the best ways to significantly boost your income without having to quit your existing career. Buy to let investment is the most popular way that people earn money through property, providing you with strong returns on investment both now and in the future.
For instance, investing in a buy to let property means that you’ll generate an extra sum of money each month through renting out to tenants, and then benefit from further returns if your property grows in value by the time you decide to resell. If you’ve chosen to invest in property, you’ll need to sufficiently research the property market to find the best possible opportunities. Property companies in the UK like RW Invest offer fantastic options for investors, with opportunities in some of the best cities with the strongest rental yields, tenant demand, and capital growth. Whilst property investment can be easily done alongside your full-time job, it might be worth hiring some help from experts such as financial advisors during the first stages of your investment.
If you have a specialist skill, then freelancing can be the perfect way for you to earn some extra cash. Not all companies, especially smaller independent ones, have the budget or room to hire full-time specialist staff. That’s where freelancers come in, providing companies and businesses with expertise from fields like marketing and graphic design. The amount you earn can be entirely dependant on the company you’re working for, the size of the task you’ve been set or how much experience you have.
The good thing about freelancing is that you’re able to have full control over when and how often you work, perhaps dedicating certain evenings in the week to your freelancing efforts. However, while freelancing can earn you some extra cash on the side, being a freelancer is also extremely popular. This means that in order to earn the big bucks, you often need to stand out from the crowd and become more established in your field.
Pet sitting is the ideal ‘side hustle’ for those who love animals and have some spare time alongside their day job. This basically involves looking after people’s pets while they’re on holiday or away from the house, carrying out any tasks such as preparing food, cleaning litter trays or taking dogs for a walk.
This isn’t likely to earn you huge sums of money, but if you’re looking for a way to earn a bit of cash by doing something you enjoy, you should definitely consider pet sitting. To get started, spread the word to those you know, set up an online ad, and work out a basic rate of what you want to earn for your services.
**This is a collaborative post**