Even with the proliferation of vaccines and general optimism, the economy is still recovering from the worst of the pandemic. Many businesses shuttered permanently due to lockdowns and people are still reeling from the massive lay offs and other negative impacts of COVID-19.
If you find yourself in need of alternative revenue streams to pay bills, make ends meet or to build up your bank account, you may need to get creative. You can join the gig economy or find different ways to ensure you have the money you need.
Below are some ideas on how you can find effective alternative means of improving your income.
- Teach a Course
There are always curious people online and you may have skills that many people are eager to learn about. Some of the most popular online jobs include teaching different languages to foreigners. This does require some level of accreditation and planning if you want to be a particularly effective or well-paid teacher. Or you may have a hobby or physical skill that you can turn into a course.
For example, if you are a house builder by day, you can start a vlog or an online course teaching people the basics of carpentry and other skills that could be useful in maintaining the structural integrity of a home. You can even use an online course creator to come up with a solid syllabus and keep track of your student’s progress effectively.
- Use Your Vehicle
A car can be a great investment but it can also be an endless money pit. According to the American Automobile Association, the average maintenance cost of a car is $66, not including the upkeep on tires and paying for the insurance. This can seem trivial but if you need every cent of your paycheck for bills or some other expense, it can quickly build up. Using your vehicle as a source of alternate revenue becomes a necessity.
The most obvious choice is to become a ride-share driver. Industry experts estimate that there are approximately between3 to 4 million Uber drivers alone in the United States. The great thing about being a ride share driver is you can fit it in your schedule easily. You can clock off work and look for rides before going home.
As long as you have free time, you can effectively make good money with your car. Just remember to find the best times to do so and be respectful of your passengers.
- Do Chores
It may seem childish, but there is a huge portion of the gig economy that caters to accomplishing chores for people. There are people who really need the help such as disabled individuals, older adults or someone who just has too many things to do on their own. The price for accomplishing these tasks usually scales from app to app and of course between individual chores.
The best way to earn as much money as you can from doing chores is to allot a lot of time to accomplish them. For example, you could do chores for an entire day and you may make as much money from your regular job. Cultivating a healthy relationship with clients can also lead to repeat customers who can give you a steady supply of chores. Their continued patronage can be useful in securing an almost reliable source of income outside your regular work hours.
- Custom Food
Everyone loves food and you can use cooking skills to make a tidy profit from your own kitchen. First, you must decide on a specialization that doesn’t require a lot of equipment or room to make enough money.
For example, you may have a knack for recreating the famous Cherry Garcia recipe, but how often can you repeat that? Do you have access to enough ingredients to make a living from it? Is your refrigerator large enough to hold all those ice cream containers?
An alternative means of making money from food is exploring baking. One of the largest financial drains in baking is rent, a problem which you won’t have to face if you cook at home. Providing custom baked goods to clients or only having limited products can also save up on production costs.
Making a living with an alternative revenue stream is difficult but it can be done. With the right ideas and perseverance, you can earn enough to supplement your earning quite nicely. As long as you remember to save up and be judicious with your expenses, you can find that your combined revenue will be enough to live comfortably.