Who doesn’t need extra income? After all, in a world in which according to Forbes.com, 63% Of Americans Don’t Have Enough Savings To Cover A $500 Emergency the vast majority of people are a minor emergency from going deep in debt, the extra money can be fantastic for your finances, particularly if you save most of it.
When it comes to extra income, the first thing to decide is how much you can reasonably consider making part-time, and how much time, effort and investment it will require you to “get in the game.”
With that said, here> are our Top 10 Extra Income Opportunities listed in no particular ranking order.
1. At Home Customer Service Jobs
Various online job boards such as Indeed.com, Glassdoor, and dozens more regularly post part-time customer service at home positions, as well as associated positions such as sales, marketing, and collections.
Typically, you will be paid around $10 per hour or more, and will be required to work 20 hours per week, although hours worked, and the hours for at home work vary significantly.
To get these jobs, you must demonstrate the ability to carefully follow corporate policies, be fluent and conversational in either English or Spanish (bi-lingual candidates are highly sought after) and have a patient attitude, including dealing with angry customers.
In order to snag these jobs, you must have a high-speed internet connection and a modern computer and microphone set-up. The jobs don’t pay enough to make such purchases worthwhile if you don’t already have a computer, but most people already have a modern computer in their house.
2. Retail Arbitrage
Retail Arbitrage is buying discounted products such as sports shoes at retailer’s such as Marshall’s and TJ MAX, and reselling them on Amazon or Ebay.
First, this part-time job depends upon you living in large city with a minimum of perhaps 6 to 10 such stores.
Second, you’ll need the knowledge of which products are selling on Ebay or Amazon and for how much.
Third, you’ll need seed money to buy the products. A sports shoe can be bought at Marshall’s for $45, and flipped on Amazon or Ebay for $120, but even if you find 10 pairs to buy at a single store, you’ll need almost $500 seed money.
Never the less, retail arbitrage can be a high paying side gig. You’ll need a smartphone with an app that scans products and tells you what they are selling on the various platforms, but this can be a lucrative side gig.
2. Drive for Lyft, Uber or a food-delivery service
There are thousands of individuals who drive part-time for Uber and Lyft, as well as food delivery services such as GrabHub.
All you need is a decent four-door sedan, a smart-phone, and a reasonable driving record.
The best times to drive part-time are early mornings when people want to go to the airport, or late at night, when people go to and from bars and nightclubs. For food-delivery services, early evenings seem to be the busiest.
Typically you will earn around $10 an hour after you pay your gas and insurance costs, and there is plenty of waiting time do tasks such as college homework.
3. Website Design and Illustration
It seems like everyone and their brother knows HTML, CSS, Photoshop. That is, everyone except auto-body shop owners, garages, small retailers and home-remodelers who are too busy working and desperately need a website to expand their business.
The real trick of this part-time gig is to establish a reputation, which means you’ll possibly need to offer your services on spec, meaning the small business doesn’t pay you a dime unless they accept your website for production.
But, if you can get even one website sold per month to a small business, that may net you $300 or more.
Of course, you’ll already need the necessary software and skills, but these can be great part-time gigs.
4. Mobile Auto Repair
Getting an auto repaired is not only expensive but is downright inconvenient.
Even if you have a full-time job elsewhere, if you have the knowledge, you can offer a mobile auto-repair on weekends.
You can typically make $20 per actual hour worked, and the repairs are often for simple tasks such as replacing a broken fan belt or replacing a headlight. I personally, once called a mobile repair shop when it was impossible to get the lugnuts
off my vehicle to replace a tire.
5. Computer and X-Box Repair
There are millions of computers and gaming systems out there, and plenty of them need repairs. Often it’s a simple matter such as a broken pin, or a burnt out element.
If you have the knowledge, you can offer this business on a part-time basis and can be as busy as you wish.
You’ll need extensive knowledge, and also basic testing equipment, but this is another
field that can make you $20 per hour. Many computer repair people also supplement their income by buying broken computers or X-boxes at thrift stores, and garage sales, fixing them and re-selling them on Craigslist or Ebay.
6. SEO Ranking
Offering your knowledge to improve a local websites search engine ranking in Google, Bing and Yahoo is another way to make a good, part-time income.
Most small businesses don’t have a clue about how Google and others rank a website, but are smart enough to know that if their are five auto-body shops in your city, and yours is ranked as number five, chances are they are getting fewer telephone calls for you service than the number one and number two ranked shops.
If you truly know the SEO game and how backlinks and videos can boost rankings, you have the opportunity for a great part-time business.
Again, the key here is to build trust, which often translates into offering to do the job for free and they pay only if you succeed in raising their ranking.
7. Transcription and Writing Services.
There are any number of transcription services, as well as writing services out there, that offer a part-time income of around $200 to $300 per month.
With transcription services, you listen to a recorded tape and transcribe the tape into a written document. For writing services, you write articles needed by business clients.
To transcribe, you need patience and accuracy, while with articles, you need writing talent. Never the less, the entry level is low, and as you get better at it, your income levels will rise.
Whichever endeavor you choose for a part-time gig, try to save the money rather than use it to supplement your spending habits. Keep in mind the old saying, “a penny saved is a penny earned.”
With so many people not having the necessary cash for emergencies, you can avoid that future pitfall.