Living a debt-free lifestyle can be hard. While many people fall into a debt trap due to poor money management skills, there are many who are simply not making enough money to cover their monthly expenses.
As obvious as it may sound, adding an extra source of income can help prevent them from incurring additional debt and live more freely.
After all, there are some expenses that can’t be cut down, so rather than wasting your energy on minimizing your expenses, you should look out for options to earn more money. Here are three ways that can help you make supplemental income:
If you love kids, babysitting is a perfect option for you. It’s not just for teens and actually helps you earn a hefty income on the side. You can ask family and friends for referrals or sign up on websites that provide babysitting gigs online.
However, it’s recommended that you accept babysitting jobs from people you know or are referred to by a trusted source.
There are many people who drive Uber to supplement their income and actually make quite a handful of money driving around the city. If you’ve got a decent car and a valid driving license, it’s actually a great option to add some extra money in your pocket.
On average, you can earn $11.77/hour after deducting Uber fees and vehicle expenses. Hence, if you just drive for four hours on weekdays, you can make roughly around $12k per year easily.
Moreover, if you end up losing your job, you can always drive full-time until you find another job, saving you from an additional burden of debt.
Pick up freelance work online
The freelance workforce is powerful and growing. There are millions of people who solely rely on freelancing to pay their bills. In fact, stats show that one in every three Americans had done freelance work.
You can make profiles on freelance websites such as Upwork and Fiverr and provide a range of services, including data entry, programming, graphic designing, writing, and more. You can even become an online tutor and teach math, science, or the English language to foreign students.
Once you work hard and establish your reputation in the market, you will receive high-profile clients who are generous with the pay rates. Again, it’s a great option to land on if you ever lose your job.
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