Dear Happy Investor, do you want to earn extra money next to a full-time job? In this article, we will discuss 7 ideas to develop next to your current job. Some ideas are ways to passive income. Others are aimed at making serious money alongside your full-time job. Today's technologies also make it easier to start these kinds of ideas. Take advantage of them.
On to sustainable (financial) success!
Idea 1. Become really good at something and provide maximum value
This article contains some ideas for making extra money next to a full-time job. This is nice, but they are actually the standard ideas and suggestions (because they work too). However, every idea is based on an important principle. This is one of the principles for making extra money, and that is to provide maximum added value.
The way to deliver maximum added value is to be very good at something. If you are one of the few experts within a domain, your value will increase unprecedentedly.
At my former employer I worked together with a safety expert on a project. A very sympathetic and driven man. This person was one of ±30 experts in the Netherlands with a certain certification to CE. This is a safety class within machine guidelines. In the Netherlands he could easily charge above €100 per hour. Abroad, his rate was at least €150 per hour. And all his expenses were claimed.
You are reading this article because you want to make extra money next to your full-time job. Very good. That's how I started too (with idea 2). But the best advice I can give you is this:
Don't strive for more money. Find something you really enjoy and become extremely good at it. Develop yourself into an expert and have fun and passion. The money will follow.
Nothing comes for free. You have to work hard. And that will always be rewarded.
Idea 2. Start a Side Hustle
You will have a good reason to strive to make extra money in addition to a full-time job. When your 8 hours job is not enough to make you happy, or you have enough energy even after a tiring day of work, you can put on your efforts to start a side hustle business. This brings in extra money beyond your regular job and main source of income. You can kick start an online business and build your empire in the modern-day internet world. Here are some side hustle business ideas you can conceive to bulk up your bank account.
- Make your own Social Media channel
- Online Teaching/Consulting
- DIY Selling
- Walk Dogs
- Take B2B Surveys
On the Internet, you'll find countless ideas for side hustles as a way to make extra money alongside your full-time job. Whatever you choose, keep the tip above in mind. Choose a side hustle that matches your passion. Don't choose something you can make a lot of money from, but choose an activity that gives you energy and joy.
Idea 3. Start Investing
If you don’t risk, you won’t earn extra money (next to a fulltime job). Investment is the feed of every idea. Your ideas are hard to accomplish without investment, although some exceptions are always there, yet very few. You have to look for a smart investment to make more money without doing too much for working part-time. If you have an idea you think can be achieved by working part-time, you must dive into it and stick to your strategy.
Here are some ideas how investing can lead to earn extra money next to a full-time job:
Become a Sleeping Partner
You can also invest just in the other people and help them fulfil their dreams, dividing the profits per pre-determined contract. In this scenario, you will be working as a sleeping partner, and your money will be working for you. This is the way you can earn on autopilot; however, it also incorporates some risk.
Become an Active Partner
You can also work as a contributing partner with your friend and someone you can trust. In this scenario, you will be putting your input in terms of time and money. It is the conventional partnership scenario. All you need is to look for a realistic idea by working part-time. This is not a passive investment as a means of making extra money alongside full-time employment, but it can be a very lucrative one.
Real Estate Investment
The other ways of doing investments are in the real-estates. Those days are gone when you needed a huge investment to deal in real estate. In today’s blockchain world, you can even invest with small money and earn by making the right decisions. The Tokenize Real Estate Investment lets you earn your fortune even with a small investment. However, it would be best to be prudent in choosing the platform and choosing the right asset to invest in. Basic knowledge of investment and scanning the scammers are the skills required for this.
Learn more about real estate investing.
Investing in stocks or low-cost ETFs
As a Happy Investor, my love lies with investing in stocks and ETFs. Stocks provide the highest return. Especially now that real estate has an increase in transfer tax. But stocks also have an increased risk. You have to know what you are doing. Certainly, there are ways to buy this knowledge, such as through our shares subscription or from others. Still, it is good to have the right knowledge yourself. You have to know what you are doing and what you are talking about.
Do you want to earn extra money next to a full-time job without too much work? In that case ETFs or unlisted mutual funds are a great choice. Returns are lower, but so is the risk.
Idea 4. Works as a Freelancer
Freelancing is an evergreen gig to work on as a means to earn extra money next to a fulltime job. There are hundreds of platforms on the internet that connect you from the world to sell your skills online. When you are free from your job, you can still sell your skills online without just too hard commitments. If your skill is not relevant and cannot be sold online, you can learn the basic writing skills logo designing skills or become a virtual assistant to an online store like Amazon and eBay.
No doubt freelancing is the way to earn extra from your regular 9 to 5 jobs, yet it is risky, and due to competition, you are certainly bound to deliver the quality service and needs to comply with the time agreed upon. If you don’t, you cannot survive for a long time on any platform.
Idea 5. Coaching Services
If you think you have mastery on a certain gig, why not earn from it by spreading it. It is one of the best options to earn an extra living by simple engaging with your skills. Besides sharpening that skill, it will help you keep yourself mentally refreshed. For example, you can work as a fitness coach in the same gym where you used to be a regular client.
It is not easy to work after 9 to 5 job. You are already tired of the routine work, but you have to work hard if you want to make more income streams. However, you can reduce the stress by opting for the path that aligns with your passions and interest. In that way, you will genuinely be earning by just living your interests. If you are eager to learn new skills, invest in yourself, learn that skill and be a master of that before selling it online.
Idea 6. (Day) Trading
Trading financial instruments like forex and cryptos could be your sound source of earning extra money from your regular job. It can help you if you have empty pockets, as you can even sell the services if you have developed the required skill set. On the other hand, you can earn exceptional gains by simple putting your investment at stake. Many traders say that trading is a full-time job. However, there are many tools like copy trading, expert advisors, and trading robots that can help you make prudent trading decisions quickly. You can also get the services of premium trading signals providers who have an exceptional winning record.
Investing in financial instruments involves a high level of risk, and not many traders earn huge money from it. These are highly volatile markets where prices fluctuate for many unknown reasons. It is appreciated to first build the skill set, try demo trading, learn emotional handling and then invest real money.
Want to learn more? Read more about crypto day trading tips.
Idea 7. Seeking for Unique Opportunities
Early starters are today’s billionaires. When Bitcoin launched, nobody believed that it could make people billionaires, but it did. When Youtube launched, people did not believe in the idea, but those who did were not well-settled. So, it is the game of being awarded. More importantly, if you want to be an early starter, you need to stay updated on what’s new is happening in the world, especially in technology. There are hundreds of websites on the internet where people share their unique ideas. The news channels daily update about the unbelievable technology that has been recently launched. You have to develop a sharp mindset to grab the opportunity in any update and be an early starter in any micro-niche. You may not gain instant gains on that type of project, but when it works, it will pay back your years of hard work more than your expectations.