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TEMPO.CO, Jakarta - Economic trends haven't always been predictable in recent years, with many unexpected inflation spikes, market turmoil, and layoff issues. In fact, these issues have become a collective distress among working individuals, posing a threat to their stable careers.
Understanding how to make extra income while working a full-time job could be the first step to the financial freedom you have been dreaming of. In this article, we'll discuss several ways that working adults should try to earn that extra money.
8 Ways to Make Extra Income While Working
Having a full-time job shouldn’t limit individuals from increasing their savings. Here are some of the best ways to earn extra income while working, as highlighted by Forbes and Entrepreneur:
1. Selling Digital Products
With the rise of online retail, corporate employees can try selling digital products such as software, online courses, virtual goods, music, digital art, and many other pieces of media. Due to the absence of physical inventory, this side hustle is considered a low-maintenance business. Instead of using shipping services, sellers can deliver the products via email attachments or download features.
Income Potential: from US$20-US$150
What You Should Do: Create online shops on multiple e-commerce platforms to promote your products.
2. Try Affiliate Marketing
Affiliate marketing has emerged as a profitable side hustle opportunity, especially for professionals keen on promoting trendy products. With the growth of online marketing, this commission-based model allows individuals to earn money for every customer they refer. Many brands are eager to collaborate with affiliates who can effectively boost sales.
To maximize their earnings, affiliates utilize various platforms such as social media, blogs, websites, and online communities. Commission rates vary by program but typically range from 5% to 50% per sale, providing a flexible and scalable income stream.
Income Potential: US$100 to over US$10,000 per month
What You Should Do: Choose an affiliate program that matches your skills and audience.
3. Become an Online Coach
As an experienced professional, you are equipped with proficiency in your fields. For instance, if you hold a marketing position, you can share your expertise with a relevant audience. Individuals aspiring to similar roles will be keen to acquire insights from someone with firsthand industry experience.
Income Potential: Pricing may vary
What You Should Do: Market your coaching sessions to students looking for jobs.
4. Dropshipping
Dropshipping is an online business model in which sellers offer products without stocking them. Instead, orders go straight to suppliers, who ship items directly to customers. This streamlined approach reduces overhead costs and simplifies logistics. This is the perfect route to take for professionals wishing to earn extra income while working, as it doesn’t require demanding maintenance.
Income Potential: Around US$20 per hour
What You Should Do: Choose in-demand products to dropship and select your merchant wisely.
5. Selling Stock Photos
If you already do photography as a hobby, this side hustle idea will bring you a great fortune. To start things off, try using your previous photography work as your products. You can create accounts on websites like Shutterstock and Getty Images, which enable photographers to upload high-quality photos for purchase.
Income Potential: US$0.01 to over US$2 per photo
What You Should Do: Focus on a photography field you love and create stunning, high-quality images that meet the standards of stock photo sites.
6. Dive into Renting Services
You don’t need a glamorous investment to have a business line. Sometimes, all you need is functioning goods and products like cameras, working equipment, and other valuable devices. These days, you can even rent out your cooking tools to aspiring cooks and bakers.
Income Potential: Pricing may vary
What You Should Do: Make sure you have a written and valid contract for both parties that spells out the full terms and conditions.
7. Becoming an Airbnb Host
If you have a room or a vacant house, it’s better to leverage your business as an Airbnb host. You can rent these spaces to budget travelers who often opt for shared rooms as a more cost-effective accommodation.
Income Potential: About US$100 to US$300 per day
What You Should Do: Keep the room clean, set fair prices, and offer great extras to get better reviews.
8. Selling Resume Writing Services
An increasing number of individuals are exploring resume writing as a viable income stream. This business opportunity is particularly well-suited for those who have garnered a strong professional reputation with past employers.
Services may include crafting compelling resumes and cover letters from scratch or refining existing documents through meticulous proofreading and strategic optimization.
Income Potential: Around US$12 to US$40 per hour, depending on experience
What You Should Do: Write resumes that match your experience and offer valuable real-world insights.
Building an extra income stream while working a full-time job is not only possible but also increasingly necessary in today’s unpredictable economy. The key is to find a side hustle that matches your skills, interests, and available time. If you are interested in a similar topic, check out side hustles you can do from your couch here.
Editor’s Choice: 5 Steps to Start Affiliate Marketing with No Money
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