These days, everyone is hustling and overworking themselves to make ends meet. Unfortunately, their money comes at the cost of their mental health and social lives. Work doesn’t leave time for hobbies and loved ones. To many, the perks of working round the clock, such as job security and constant income, are no longer enough.
According to Forrest McCall of Don’t Work Another Day, you can quit your job and pursue a flexible career through multiple income streams. This work will leave your schedule relatively free, improving your mental health and providing time for yourself and your family. Here are a few ways to earn money without a full-time job.
1. Investment
Investment is an income strategy that does not require a nine-to-five workday to generate money. Instead, you purchase an asset and sell it at a higher price after some time. These assets can be anything. However, shares, bonds, precious metals, virtual currency, and property are the most common investment tools.
To start investing, you will require an initial sum, making it an unsuitable option for many as they do not have the capital. It also comes with risk, as assets can drop in value instead of rising. You should heavily research the market to avoid such undesirable situations.
Find which commodity is performing well and determine the best time to buy and sell it. Ensure your investments are small initially. The more money you invest, the more you may lose. For better returns, you should diversify your investments.
2. Start A Business
Starting a business can be daunting, especially since 45% fail during the first five years. However, marketing and customer service make any business plan a reality. Start your business small and focus on establishing an online presence and creating a brand name.
Boost traffic to your website through social media and sell only a limited number of products at first. Smaller businesses have a greater chance of succeeding as they require less investment and have no closing costs.
To ensure your business’s success, choose products customers are likely to buy, such as food, paintings, cosmetics, and accessories.
Having a business allows you to create your schedule and manage things accordingly. When your business grows and becomes difficult to handle, you can always hire assistance to share the workload. This way, you can continue making money and have free time.
3. Freelancing
Freelancers work on a contract basis. They have the freedom to dictate their terms to the employer and choose whether to take a job or not. Freelancing is done in almost every field, from graphic design to modeling. Freelancing skills can easily be acquired through short courses and do not require an advanced degree.
To attract clients, you must create an appealing profile with a well-equipped portfolio on a freelancing website. Employers usually only hire freelancers with good ratings, so it will take a few months for you to establish yourself as a freelancer and solely rely on it for your income.
It is vital to note that working from home can get tricky. It often blurs the lines between work and life, and finishing your work can be hard when your loved ones are nearby. To ensure you stay on track, create a proper work schedule and utilize mobile apps that help avoid distractions.
4. Start A Blog
Blogging is a great way to express yourself regarding topics you are passionate about. You can start a blog on any topic, eventually becoming an informative and interactive website. Aside from creating content, you will also have to design a website and graphics for your blog.
Building a website can be intimidating, especially if you are unfamiliar with programming. Multiple online platforms with a simple interface allow you to create unique websites.
If your website is appealing and strategic, it can generate a lot of traffic through search engines. Once people visit your blog, you can begin making money by placing Google ads on your website. While you control the size and format, Google chooses the ad.
The ads are related to your blog’s niche, and you earn money whenever someone clicks on them. You can also use your blog for sponsored product reviews, in which a company will directly pay you for your service.
Earning from a blog is unsuitable as a steady income option. It can vary too much as user preferences continue to evolve. As a result, your blog can quickly become outdated. Instead of relying on your blog as your primary income source, consider it an extra earning option.
5. Teaching
In physical teaching, substituting is a great way to earn a steady income without working nine to five hours. Substitute teachers are also provided with summer vacation and perks such as free health and life insurance if they are government employees. Working as a substitute teacher in a school allows you to enjoy a flexible schedule with these added perks. For that, you will also require a bachelor’s degree and state certification for teaching.
Consider teaching a vocational course if you prefer something even more flexible and accommodating. These courses can teach anything from a skill to a language. They are usually a few months long; most students are adults and require less management. You can also teach courses online and have students from all over the world.
Charging students for additional learning aids is another way for teachers to earn more money. Over the years, you can build a reputation for your course, which allows you to raise prices. Teaching a class gives you guaranteed income and a flexible schedule to devote to other parts of your life.
6. Rent Out A Room
Y apartment or house might have a spare room. Instead of letting it gather dust, clean the room and rent it out to someone. As property prices skyrocket, most people starting with their jobs can not afford to rent an apartment. This makes single rooms highly in demand.
Carefully choose your tenant. Ensure they have a steady income and good credit scores so that they can pay the rent. Check that their temperament matches yours, making arguments less likely. Renting out a room is ideal if you live alone, but if you have a family with children, your tenant will make noise complaints, and it can get hard to get a favorable deal.
7. House Sitting
Many people frequently travel because of constant work trips and vacations. As a result, they leave a lot of valuables behind in their homes, including pets. They need someone to care for the house and pets when they are gone, so they hire a house sitter.
To work as a house sitter, you must create a profile on a related website and ensure you have favorable reviews from past clients to testify to your services.
A house sitter sets their rates depending on the house’s size, the number of pets, and the requirement list of the employers. Before taking on any job, sign the contract with an employer of what both sides expect. The agreement lets you avoid any miscommunication and unresolved expectations later on. Then, as your house-sitting profile grows, you can make it a steady income over time.
Endnote
If you are looking to escape the overburdening work culture of a nine-to-five job and pursue a more flexible career path, the jobs mentioned above can help. Remember that in the beginning, these ways will not produce a sizable salary you can live off, so you may have to consider two to three modes of earning to make ends meet.
However, as you gain experience and your presence in the field grows, you will be able to have higher salaries while having a relaxed schedule. You can also maintain a healthy work-life balance and will not have to overburden yourself with a full-time job.