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How to Make Extra Money with a Full-Time Job?

How to Make Extra Money with a FullTime Job
Written by Okosun John

Here is an expert guide on tips and tricks to Make Extra Money with a Full-Time Job. This guide will help you grow your earnings.

More people are finding it difficult to support themselves with just their salary. In fact, 44% of Americans earn additional income to supplement their current earnings.

There are several reasons for this including making ends meet, having a disposable income, and the rising costs of living due to inflation.

Whatever it may be, the bottom line is that many people want extra money.

If you’re one of these people but have no idea where or how to start, below are some ways to make extra money with a full-time job.

Before you continue, check out;

Take up a side gig

A common way to earn additional income is by getting another job. LHH states that the gig economy is predicted to grow appreciably in the coming years, especially with nearly 60 million people freelancing in some way and an increasing number of employers willing to hire them.

After all, freelancers are cheaper to onboard compared to regular employees and companies will usually find one with the exact skillset they need.

One of the easier gigs to consider is becoming a food delivery driver through an app like DoorDash. You get paid weekly, choose your own schedule, and either use a car or bike to deliver. Another way is to profit from your skills on freelance service apps like Fiverr.

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This lets you offer work like video editing, translation, and graphic design to a global audience and earn from the projects you complete. As the gig economy develops, it provides a suitable and accessible way to earn extra income.

Open a business

Starting a business provides you with various options to earn on the side. You can open a cleaning franchise as we’ve emphasized in our article ‘Can You Make Money with a Cleaning Franchise’ or even start small by setting up an online business.

For a bigger business like a cleaning service, start by operating only on weekends so it doesn’t get in the way of your full-time job.

A smaller business like an Etsy shop that sells handmade crafts may be easier to manage since you can work on it from home in your free time.

Whether you want to open a major business or a small side hustle it will give you an added income stream.

Rent out a property

Another source of extra money is through rental property. While the first thing that comes to mind is a residential property, there’s also the option to rent out a cabin or vacation home. Depending on your situation, this may be more convenient since you won’t have regular responsibilities. Rather, you’d only need to handle tasks when someone is renting them out.

Aside from the additional income, The Balance Small Business lists a few income property benefits, such as property appreciation and tax deductions. The value of your property may increase over time through leverage, resulting in greater profit compared to your initial investment.

To add, you’re entitled to tax write-offs including insurance and maintenance repairs as the owner. Though it may take lots of preparations, renting out a property is a sure way to passively earn.

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Wanting to earn additional income is a common desire for many Americans. With our tips for profiting from your knowledge, starting a business, having a side gig, and investing in property, start your journey towards making extra money today.

About the author

Okosun John

A B.Eng. holding mechanical engineer with love for content creation and web development.