No matter how much you earn at work, chances are, you wouldn’t mind making a little extra money on the side. Think of all the possibilities. With some extra cash, you could chip away at existing debts faster. You could start putting money away into a savings account for a big purchase, like a mortgage deposit or a car. You could save to book a holiday or getaway. You could buy the little bits and pieces you like the look of. You could pick up extra hobbies. You could do all sorts! The good news is that there are a number of different ways that you can make a little extra money on the side to help yourself in whatever way you please. Of course, each will take a little time investment and commitment. But when you’re getting your hands on the things you really want, it will all prove more than worth it! Here are just a few suggestions that may be able to help you along the way!
A great and relatively low commitment way to grow your income is to get involved with trading. Now, all too many people feel intimidated by trading. They see it as it is presented in TV, films and other media. When we think of stocks and shares, we tend to think of Wall Street – business people committing their whole working lives to investing huge sums of money in risky options. But this really isn’t how trading has to be carried out. Believe it or not, you can deal with much smaller sums of money from the comfort of your own home. If you do decide to get involved in trading, you first need to choose a market to trade on. There are a number out there, but the most popular tend to be the stock market, Forex and options. If you want to get comfortable with trading before investing, you can rest assured that there are plenty of free to use stock simulators out there. These allow you to practice and get to grips with the basics risk-free.
Other than the stock market and forex, think about cryptocurrency. The rise in popularity of the likes of Bitcoin shows that more and more people are getting involved in this modern form of trading. The key here is to make sure that you choose a market that you understand and don’t hurriedly get into the trades.
First, understand blockchain technology components such as non fungible tokens or ‘NFTs’ and try to get a grip on the market as a whole. The last thing you want is to lose all your money because you didn’t fully understand the process and risks. If possible, look for mentors, learn the ropes and then get into the market gradually. The best part is, all the information you need is online.
Additionally, plenty of people out there are willing to share their advice and experience with you on online forums or discussion boards. You might soon find yourself earning enough money from cryptocurrency to enable you to live a more comfortable life.
Selling Old or Unwanted Belongings
All of us have some old or unwanted belongings that we just don’t need anymore. Why not sell these for some extra cash? Of course, this is a limited form of income, but you can free up space and make some money back from these items at the same time! What’s not to love? These simple steps will help to get you started.
- Choose what you want to sell – the first step that you’re going to need to take is choosing what you want to sell. Go through your belongings and determine whether you’ve actually used something in the past year. Of course, there will be some occasional items (such as festive decorations) that this won’t apply to, but generally, if you haven’t used something for a year, and it has no sentimental value, you really don’t need it.
- Choose a platform – there are plenty of online platforms that you can sell on. The most popular tend to be eBay, Etsy, Depop, Schpock and Gumtree. Make a listing with your items and you’re good to go!
These, of course, are just a couple of ideas to get you started. But hopefully, each will be able to help you make a little extra money on the side that can go a long way!