There are many different ways to make extra money to increase your income. I am going to share with you the top 5 on my list:
- Side Hustle
You can resell on ebay, Amazon, and Shopify. I resell on eBay and did $3,691.87 in sells this year working about three to four hours a week. A great way to start is by selling the things you already have and don’t need! Once you have a feel for it you can start buying and reselling to make a profit.
The best way to make more passive income is to invest in the stock market and generate dividend income. This only requires a little bit of stock knowledge to get started. You can invest in a 401k, Roth IRA, or a taxable account to buy stocks and bonds. You can also invest in a crowdfunding investment website like Fundrise if you want to invest in real estate.
I started an engineering YouTube channel during college in 2013 and I was making about $6 a month before YouTube decided to make changes to when people can monetize their videos. It is possible to make money from YouTube, it just takes time, effort and patience before you start to see money coming in.
Another idea to make money is by starting a blog. You can talk about what ever you want! You can even talk about a specific niche of your choice. From there you can set up ads on your site and include affiliate links in your blog posts. Once you start to generate more traffic to your site and build an audience, you will start to see the cash flowing in. This idea could also lead to a passive income stream.
Getting a side hustle could be one of the easiest ways to earn extra cash. You can get a second or third job. You can babysit or dog walk. You can even drive for Uber, Lift, or DoorDash.
The key to wealth generation is to have multiple income streams. It isn’t something that can happen overnight, so be patient, and figure out what works best for you. Most importantly, do your research, it’ll all be worth it in the end.