Most people would agree that they could benefit from earning a little extra money. When you go online, you are bombarded with offers from people telling you that you can earn thousands of dollars every single month in your spare time – you can even get paid to use some Android apps. Unfortunately, much of this is a scam. However, there are several legitimate side hustles that you can do that can augment your monthly income.
Buy Low and Sell High
This concept is usually associated with buying and selling on the stock market. However, thanks to online auction houses, this concept can apply to several things.
There are people who are turning a decent profit by going to big box stores and purchasing quality items on clearance. They resell these items for a profit on sites like eBay or Amazon.
This is a time-consuming side gig. The amount of money a person can earn from flipping items for a profit will depend on their ability to find good deals, the amount of money they have to invest in their inventory, and their ability to market their items to sell them quickly.
If a person has specific expert knowledge in an area, they will have a leg up on the competition. For example, mechanics may purchase vehicles that are broken down and then strip them and sell working parts for profit. They make additional money by selling the metal for scrap.
Some have mastered the ability of acquiring items for free and then reselling them. For example, those who work in construction fields may gather scrap pieces of metal and take the metal to recycling centers. If the load has a sizable amount of copper, it’s easy for a person to earn over $1,000 per month.
Trading Stocks Online
There are many who are interested in day trading on the go, using stock trading apps from the convenience of their smartphones. However, they are not interested in doing it as a full-time career or are not ready to give up their day job. Most professional day traders only do it part time and then devote the rest of their day for other activities.
Day traders focus on earning the greatest return using the least amount of time. They focus their work around the official opening and closing of stock trading, which is 9:30 AM and 4 PM on the East Coast.
Part-time stock day traders focus their attention on the opening of trade. This means they start their day at between 8:30 AM and 9 AM. They are using this time to get prepared for the first trades.
The first 30 minutes of each day are going to be the most volatile and profitable. Traders who can only trade later in the day may consider trading from 3:30 PM until 4 PM EST since traders will close their positions before the closing bell. While these principles apply to the stock market, they also apply if you are looking to get into futures trading.
Successful part-time day traders understand the difference between being a casual day trader and a part-time day trader. Casual means that you have done no planning. There’s no structure behind your trading activities. You trade at random or casual intervals, so there is no additional strategy at play. When it comes to trading, the right strategy is the key, along with trading and investing through secure brokers, so make sure you think first and trade later.
Part-time traders don’t trade all day long, but they are regular in their work. They have a strategy that they follow and see trading as a serious way of supplementing their income.
Freelance Writing
When you are online and read articles about history, art, or science, someone had to write these articles. There are some people who write as a hobby and earn little to no money. However, there are many sites that will hire freelance writers to produce motivating content for their audience.
There are a lot of ways to go about building up your clientele as a freelance writer. It’s important for you to have a portfolio of articles that you have written on a specific theme. It’s difficult to get a gig without writing experience. But without a gig, it’s difficult to develop writing experience.
Partner with editors and reputable publications and agree to write one article for free. Once the article has been published and you have a byline, you have some credibility that you can use to get more exposure.
Some freelance writers will start by blogging. From there, they reach out to larger blogs and request to post on their sites. Depending on your niche and experience, you could earn between $30 and $1,000 per article. Finding higher-paying clients is the key to becoming a successful freelance writer. Freelancing might be a dream come true for some people, but it’s important to know what you’re getting into before considering freelance jobs such as a freelance writer.
Dog Sitting Is the Perfect Side Gig for Pet Lovers
A pet sitter gives the pet owner peace of mind by watching their pet while the client is away. It usually involves taking pets for a walk and visiting the pets in their home during the day. If the owner will be away for an extended period, it involves watching the dog overnight. At times, all that is required is for the dog sitter to go to the client’s home during the day to feed the pet and let it out for a set amount of time.
If pet owners are going on an extended vacation, pet sitting is like the Airbnb experience. But instead of paying them to stay in their home, you get paid to take care of the pet. For dog lovers, being a dog sitter can almost be too good to be true. They get to care for the animals they love and get paid for it.
Pet sitting is a perfect job as it allows you to work for as little as 10 to 15 hours a week. Depending on your location, it is possible to earn $1,000 or more each month working less than part-time.
Most people are looking for a side gig because they want to make extra money. Some are looking for a side gig because they want to gain experience. Stay at home parents may see a side gig as a way of enjoying a change of pace and using a different part of the brain. Regardless of the motivation, a side gig is a phenomenal way to get ahead financially.
