Want to earn a little extra? 5 Options to start earning extra income

Everyone has a desire to earn more and have a source of side income stream apart from normal earnings. While there are a large number of options to earn extra income, some by working online and some by working offline, here are the 5 options which we believe can help you earn extra income on a sustainable basis:

1. Consulting

A consultant is a person who provides professional or expert advice on a particular field. If you have been working in a particular field for years, conducted thorough research in a field for a long time, successfully built a company, teaching a particular subject for years, you would have acquired some sort of expertise in that field and can work as a consultant in that field. For improving their production processes, improve service levels, or improve product quality, there is a large number of people who are willing to contact experts on an hourly basis. You can either work offline on a face-to-face basis or even consult online.

Consulting is a relatively low-risk option of earning side income where you do not have to work for hours and hours together and require no capital investment. All you have to do is to find an area where you have expert knowledge, build an online portfolio on leading consulting websites, the price for your skills appropriately, and market your services through social media. You can create an excellent stream of consulting income over years. If you are good at it, this can even help you build a full-time consulting career in the future.
2. Freelancing

The advent of the internet and its penetration has led to a plethora of freelancing job opportunities where you can earn an extra side income. It is one of the best available options for individuals who prefer working from home. Depending on the amount of time you can spare, the kind of expertise, you can choose from amongst thousands of freelance jobs online. Professionals freelancing platforms like Brafu can help you grow your freelancing career.

Popular freelancing jobs include:

o   Web Design, Development, Mobile App Development
o   Search Engine Optimization
o   Content-writing
o   Creative Designing, Logo Designs
o   Online Sales and Marketing
o   Virtual Assistance
o   3D Modelling
o   Web Research and Analysis
o   Blogging
o   Data Entry
o   Photography, Videography
o   Freelance Recruiter

and so on. You can find entry-level jobs like data entry to high-paying freelance jobs like project management depending on your skills and experience. You have to create your profile on freelance websites online, add the skills you possess, add the number of hours you can work every day and then start bidding for tasks that are posted on these websites. To start working as a freelancer you can register on leading freelancing marketplaces and platforms like Fiverr, Toptal, Upwork, Brafu, etc. These freelancing platforms help you to understand the freelancing community and connect you with umpteen freelancing prospects. 

3. Teaching

Educating others is one of the best ways to ensure a good future and teaching part-time is an excellent side hustle that allows you to earn a good side income. If you are a business expert, you can opt to teach at an MBA school as a guest lecturer or if you are good at a particular subject, you can teach that subject to kids in a school on a part-time basis. Online tutoring is one of the fastest-growing fields in education. Sitting in the comforts of your home, you can tutor kids in any country online on a particular subject, language or prepare kids for school exams or competitive examinations. If you are good at teaching, you can even conduct online courses on education websites like Udemy, Coursera, etc. where you act as instructors to kids pursuing a particular subject. Teaching is one of the most fulfilling ways of earning a side income.

4. Professional Driving

If you love driving and are willing to put in a few hours every day after your regular work, the ride-sharing economy could be an excellent way to complement your regular income. You can leverage the power of your asset – Your car and the aggregating websites like Uber and make money by driving as a Uber Car. Depending on the number of hours you are willing to put up driving and the location, you can get decent side income by driving and helping customers move from one place to another. Though working as an Uber Driver part-time offers high income, you do end up spending a lot of your free time driving on roads.

5. Share Market

One of the fastest ways to earn side income is to learn the art of trading in shares and making profits. Discount brokerages like Robinhood have made trading extremely easy and you can through a couple of clicks on your smartphones. However, making money in stocks comes with risks of the market downfall, where there can be instances where you also lose money. Hence, you should do thorough risk management while trading and learn to use the right techniques while trading stocks. You can earn passive income through dividends or can generate active income by trading using technical analysis. Depending on your ability to handle risks, you can choose one or two trading techniques and make money through stocks.

The bottom line

When it comes to amplifying your revenue and upscaling your skills, the opportunities are endless. All you require is to channelize your career goals and move in a positive direction to scale the ladder of success and get the desired exposure.