So you’ve been contemplating for some time on whether or not you should take on a part-time job or a sideline that will help give you a secondary source of income. You’ve weighed the pros and cons. The pros is having more money flowing into your bank account. But the cons might be not having enough time to relax and wind down after your nine-to-five. Maybe you’re asking yourself if you need the money.
Whether it’s to pay off a debt or bolster your emergency fund (which is always a good idea to have at the ready), having a secondary source of income is always a good idea. But it is also true that part-time jobs might require more energy and effort than you can readily give, seeing as how your full-time job might already be draining you of what you have.
However, not all part-time jobs have to be energy-intensive. Below is a list of jobs that help earn you money with minimal effort—so that you still have time to make memories with the important people in your life.
Rent Out a Room or Two
If you’ve got a room (or property) to spare, consider advertising this on Airbnb. This allows you to earn cash with minimal effort on your part, as guests will be paying to stay at your place for a certain amount of time. Suppose you aren’t particularly keen on sharing your space with strangers that come and go. You can consider advertising for a roommate to help keep living costs down while also giving you a secondary source of income.
Be a Social Media Manager
Consider yourself a deft social media user? Know just how to present and curate your news feed so that people are almost always interacting with you? Use these skills for small businesses that don’t know how to promote themselves on social media platforms. Gather followers, collect likes, raise the number of views, and get paid for doing something you’re good at all from the comfort of your own home (or anywhere you’re living, actually).
Share Your Thoughts in Marketing Focus Groups
Think of marketing focus groups as sort of like the online reviews you leave for products you’ve tried. Except you’re saying your review in real-time for marketing companies who want feedback on advertisements, products, or services they handle. Suppose you’re not averse to sharing your opinion in front of a group of strangers. In that case, you can make a hefty $150 for an hour of your time (payment might differ per marketing group). Ask around and give this sideline a shot.
If you have a knack for being good at logistics and have an eye for taking something rundown and turning it into a better version of itself, consider flipping houses. This is when you buy off-market property, renovate it, and sell it for a better price. This project takes considerable planning, such as taking a hard money loan to finance the renovation and overseeing all the upgrades the house will need. But once you’ve got the skills down to pull off this project well, it can be an excellent way to invest your downtime in.
Share Industry Insights
If you’ve been in your current industry for a while or even if you’ve got a lot of work experience under your belt, consider answering professional questions about your work. There are people out there who have questions about the industry you are currently working in or have previously worked in. Giving them your professional opinion and any career advice can earn you some extra dollars. Consider creating an online course, writing an ebook, or uploading videos on YouTube about your area of expertise and then watch the dollars roll in.
Invest in the Stock Market
This is more of a long-term money-making option as you won’t be earning back your money as fast as the other jobs mentioned above. But once you understand the stock market and invest wisely, this can help build your net worth. If you aren’t sold out about investing your hard-earned money directly into the stock market, consider utilizing mutual funds or investing in a cooperative for added security for your money.
Managing your money well is one step to financial independence. But learning how to maximize your time can also help with financial peace of mind when it allows you to earn without working yourself to the bone. Whatever your financial goals might be, it is always a good idea to have more than one source of income and have an emergency fund at the ready for any untoward accidents or financial mishaps.