The current crisis has reduced the living standard of many people. And the majority of us have only one income source consisting of our (only) jobs.
Unfortunately, our system’s operating mode mainly bases on salaried work with a single full-time employer. And it makes us very dependent and can create some stress.
Thus, it is interesting, in addition to our main job, to have other sources of additional income to increase our savings rate and secure our income. We share some ideas on how to make some extra money in crisis times.
The best side hustles in 2021
Several ways of making secondary income are possible, including passive and active methods. Here they are.
Invest in financial markets
Financial market investments require a certain skill, but nothing is unbridgeable thanks to free educational online resources. The possibilities exist to obtain a regular income of around 5% with very limited risks in the long term. These incomes do not require any work apart from pre-investment analysis and, of course, the necessary savings.
However, venturing into financial market investments requires a good broker. First and foremost, you need to find one, and to do this, you have to check the broker review. Reviews serve as a guide to broker’s services and the trading platforms’ main features like assets offered, minimum deposits, spreads, etc. Many of them offer multiple asset trading such as currencies, stocks, commodities.
Second job online (as a self-employed person)
Jobs like teaching online, coaching are an interesting alternative for those who have a good education level. It is possible to sell your services, like giving foreign language lessons, making research reports, which has the advantage of immediate remuneration.
Suppose you are going for a second salaried job. In that case, it requires auto-entrepreneur status, allowing you to have a second activity declared with a reasonable tax level, subject to respecting the clauses of your employment contract.
Blogging and product sales
Blogging can be an independent source of income that allows you to learn new skills down the road that can be used in a future job. Dropshipping, copywriting, affiliate marketing, virtual assistant jobs are some of the options.
For venturing into these hustle jobs, you can at first look for the consulting service from the marketing experts. But in general, everything comes down to self-education. Or you just need to upgrade the skills, giving the pep to already existing taste for writing, selling, or accounting.
The rental income
As far as rental investments are concerned, buying on credit, if it is done when you are young, allows you to have additional income that is often comfortable in your past forties. Also, if you have some unused space within your house, you can consider renting, which will facilitate you paying off taxes, debts, mortgage, etc.
Conclusion
The non-exhaustive list above represents the vast majority of secondary income options you have available, mainly thanks to the internet. This list contains passive income ideas, which could be qualified as investment income, and active income corresponding to other work. In general, the side hustle opportunities allow you to gain a little more self-confidence and financial freedom while seeing the world less as a space for the privileged ones.
