💼 How to Hack the New Year: Side Hustle Edition
If you're thinking of ways to boost your paycheque, we have the answers.
"If you don't find a way to make money while you sleep, you will work until you die."Â
-Warren Buffett
We love the passive income talk. The idea of making money while sleeping sounds super cool. But how many of us have been able to apply it in our lives?
Even if we did, sometimes earning just a passive income may not be enough. What if the markets are down? What if you've lost an insane amount of money due to an investment?Â
In such cases, can you just rely on a passive income?Â
No, sometimes what you need to do is boost your active income. And here's where a side hustle helps.
Side Hustles
A side hustle isn’t something cool that you do. It’s not just ‘fashionable’ to have a side hustle, it is practical and smart too. But you will need to have some patience and put in a lot of hard work initially to reap rich dividends later on. Here are a few options we thought would be well-suited for everyone.
Freelance Work: A simple and well-paying side hustle could be doing freelance work. Any kind of freelance work, be it writing, photography, editing, graphic designing or website designing. You could put to use the same skill that you use for your regular job. A few websites where you can book freelance jobs are:Â
Affiliate Marketing: If you have a large Instagram following it is time to leverage these resources to earn money. Become an affiliate marketer and earn money by recommending products. All you have to do is make sure that people buy these products from your affiliate links. And voila, you've made money. If you already have a blog or a podcast, this side hustle will be perfect for you. Some affiliate marketing programs you can sign up for are:
While this sounds easy peasy, building a large following and getting people to buy things might not be. You have to keep posting content, even when you are not selling to build trust in your audience.
Teaching: Good old teaching is always a reliable side hustle. There are probably kids in your own neighbourhood that you can teach. Or you can apply to teach on sites like Unacademy or Byju's. This way you can put your degree to good use while helping others as well. And teaching doesn't have to be an everyday thing. You can take out a few hours during the weekends to do this. And if you absolutely fail to get students, start a YouTube channel explaining concepts from your field of study. Who knows, you could garner a huge following!
Start a Business on Instagram: Got a hobby that you want to pursue along with your job? Why not turn it into a business? You can sell your artwork, jewellery, or anything else that you're fond of creating on Instagram. There are multiple small businesses that have found immense success on the platform. And you don't have to spend much to start. You just need to create a few products to showcase your catalogue. Then you can make products according to the orders you get. Here's a guide that will help you set up the Instagram page for your business.
Dropshipping: If people love your taste and often make purchases on your recommendations, this one’s for you. You don’t need to own any inventory. Just share products you like with your circle. If they place an order with you, you can directly ask the vendor to ship the product to them. You get to pocket a small margin in this transaction. Meesho offers you the opportunity to start this side-hustle.Â
Solve Questions: Yes you read that right. If you have been a great student who has always been diligent with your homework, this one’s for you. You can choose the subject that you are an expert at, and solve questions on sites such as Coursehero and Chegg. You earn money on every question that you solve based on its complexity.
We thought this would be a helpful note to start the new year with. Let us know if you liked the article and we should do more pieces like this.
We hope you have a great new year ahead! And to make sure you have plenty of hope to get you through the year, we’ve designed a special calendar for you.
Love,
Team ReadOn.
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