How To Make An Extra $1,000 This Month – The extra money from a side hustle, gig app, or freelance work is a legal way to stretch your budget, achieve financial goals, or pay off debt.
Moreover, during the coronavirus pandemic, Americans are looking for remote jobs to augment their income and prevent job loss.
However, not all side hustles are created equal, nor can they meet the objectives. So, before you begin, do some introspection. “Keep three things in mind: your goals, abilities, and deal-breakers,” says Julia Pollak, a labor economist for the online job marketplace ZipRecruiter.
Beyond that, consider whether you need to make this additional $1,000 on a monthly basis or only during a dry spell. Consider if you’re willing to invest some money in the initial stages of your company. Consider how you’ll do it with your full-time career if you have one.
Remember to weigh the different rules, costs, and conditions imposed by the apps, firms, or employers with whom you intend to collaborate. COVID-19 could also have an effect on the experience of working for those side-hustle apps or in different occupations. Check to see whether any social distancing or cleaning policies are still in effect in your city or state and if the money-making opportunity you’re considering is still legal.
After you’ve given those considerations some thought, check out these ten (10) ways to make an extra $1,000 this month:
- Teach or tutor.
- Sell your stuff.
- Freelance your skills.
- Leverage your writing talents.
- Take advantage of your language skills.
- Get a seasonal job.
- Rent out a room.
- Drive for a ride-hailing app.
- Take up dog walking or dog-sitting.
- Negotiate with your current employer.
Teach or Tutor
“Everyone has skills they can share with the rest of the world,” says Chris Haroun, CEO of Haroun Education Ventures in San Francisco and an instructor for online learning platform Udemy. Experts don’t even need to go to a school to share their experience these days. According to Haroun, instructors can monetize their courses by using sites like Udemy or Teachable.
The demand for online teachers and tutors is extremely strong during the health crisis when many states and communities continue to ban in-person training.
Lecturers can post instructional videos on websites like YouTube but bear in mind that making money on YouTube is a slow process as you develop a subscriber base.
If you live in an area where in-person education is still practiced, and you’re willing to take risks, contact local schools, mentoring groups, or community colleges to see if your skills as a classroom teacher can be put to use.
Sell Your Stuff
Many who follow Marie Kondo’s tidying tips or have been practicing minimalism may have garages full of unused or unneeded clothing, electronics, furniture, and kitchen products. Consider using Craigslist, eBay, Poshmark, or ThredUp to sell your products.
Freelance Your Skills
“Take a look at your existing talents and see if you can monetize them.” enquires Alison Sullivan, a San Francisco-based Glassdoor career trends expert. Copyediting skills, web design expertise, and coding expertise, for example, can be beneficial to a company or a person. You may also work as a virtual assistant and sell your management skills. Consider using sites like Upwork, Glassdoor, or Remote. co to look for freelance jobs. Another common choice for freelancers is Fiverr, but experts warn that foreign workers will build price competition.
If you’re looking for more conventional part-time employment, Pollak says that flexible job postings for home health aides, nurses, customer service reps, and administrative staff are on the rise. Some of these jobs, such as customer service representatives, are becoming more remote-friendly.
Read also: 5 Highest Currency in the World in 2021
Leverage Your Writing Talents
If you’re excellent at writing and editing, convert your talents into a side hustle. Brie Reynolds, a senior career specialist at FlexJobs, a service for finding flexible and remote employment, says, “We see a lot of publishing, editing, and proofreading jobs.” It’s possible that you’ll be asked to write an article or proofread any technical documents. Make sure you choose professional-level roles that don’t need you to churn out hundreds of rapidly written articles or edits every week, according to Reynolds, to ensure that these jobs pay enough to reach the $1,000 monthly mark.
Take Advantage of Your Language Skills
Reynolds recommends looking for translation and interpretation jobs both online and in-person if you speak two languages fluently. She claims that even though you only speak one language, you can use the internet to teach English as a second language to Chinese school students and other learners.
Get a Seasonal Job
When the season calls for it, work a seasonal side hustle. Customer service positions for the holiday shopping season, for example, begin recruiting in August, according to Reynolds. To supplement your budget for a given month, look for holiday employment, summer jobs, and other seasonal work.
Rent Out a Room
Consider renting out an empty bed, unused condo, or vacant in-law suite on Airbnb or another vacation rental platform. Tourists can book your lodgings via the website, and you’ll get a cut of the rental price.
However, before you rent, make sure you’re aware of any local laws or regulations, as well as any limits imposed by your landlord and insurance gaps. Room-rental sites may enforce additional cancellation policies and other best practices for hosts during the coronavirus pandemic. Make sure you’re familiar with the latest rules and that you’re following best practices.
Drive for a Ride-Hailing App
Uber and Lyft are common ways to earn extra cash in a month when you need it. In exchange for a percentage of the fare, you’ll use your personal vehicle to chauffeur riders around your neighborhood. Remember that driving for a ride-hailing app may have tax implications, so keep track of your expenditures and earnings so you can properly disclose them at tax time.
Verify any protection and disinfecting procedures needed during a health emergency with the software you’re using.
Take Up Dog Walking or Dog-Sitting
Animal lovers may start a dog walking or dog-sitting business using apps like Rover or Wag or by advertising their services on community boards or by word-of-mouth. Place, app, frequency, and the rates you charge will all affect your pay. Users of these applications usually set their rates and schedule boarding and walking requests from dog owners via the app.
Take note of any municipal regulations or app-mandated provisions to keep dog owners and caregivers healthy during the pandemic.
Negotiate With Your Current Employer
Nobody likes haggling for pay, but if you’re in good standing with your boss, it’s worth it to ask for an increase. During the COVID-19 health scare, be aware of the overall health of your sector and employer. Employers also try to retain top-notch talent despite difficult times in many sectors. It might be the most time-efficient way to make extra money you’ve ever tried if a half-hour chat results in a promotion, raise, or bonus.
The takeaway: When you look for new ways to make money this month, keep in mind that not all applications and strategies are right for you. Keep in mind that side hustle apps like Uber, Rover, and Airbnb can take a percentage of your booking fees and will consider you as an independent contractor rather than an employee, which may present challenges. The coronavirus pandemic would have an effect on your ability to earn extra money. Increased competition, new safety protocols, and a new emphasis on remote opportunities are all possibilities.
Keep good records and document expenditures because you may need to report your income to the IRS at tax time, regardless of how you make money. Also, don’t let your part-time or freelance jobs interfere with any full-time or salaried job you already have. “Be sure to be diligent with your time so you can do your full-time job while meeting deadlines for side hustles and freelance jobs,” Sullivan advises.