Let’s be real – cutting back your expenses is effective, but there’s a limit. At the end of the day, there is only so much a person can cut back before they’ve reached their cap. Obviously, that doesn’t mean you shouldn’t cut back where you can, but if you really want to expedite your progress, you’ll need to thinking about streams of income to consider having.
The good news about income is that the earning potential is infinite. There truly isn’t a cap on how much money a person can earn. Sure, things can dictate how much time goes into making that money, but at the end of the day, you could choose to work as long as possible, to make as much as possible. If you’re in the boat where you’re considering adding income streams to your repertoire, it’s good to know your options. I’m sharing 12 streams of income to consider having to help you reach your goals faster.
12 Streams of Income to Consider Having
#1 Social Media Marketing
The times of the digital arena are here! If you are constantly on social media platforms, why not consider making money for it?! Obviously, you won’t get paid for simply scrolling, but if you enjoy being on social media, you can help companies get themselves established. In fact, I have a few CGS Team members who assist with social media marketing. Not because I can’t do it, but because it takes time! If you’ve got the time and enjoy the platforms, start seeking out small business who are looking for help.
#2 Deliver Food or Groceries
Instacart, Shipt and Uber Eats are all great options for delivering food or groceries. Everything is done through the platform and you can make a lot of money. The good thing is that you can work on your own time as well! If you have a few hours to spare, why not make some extra cash by driving around and delivering food?
#3 Blogging or Podcasting
I will say that you won’t see an instant income with blogging or podcasting, but if you stay consistent, it can lead to a lot of income in the future. If you are passionate about something or want to help others in a specific area, make your voice known! Starting a blog or podcast can help you get out there and yield great returns in the future.
#4 Become a Virtual Assistant
Are you very organized? Do you love administrative tasks? Would you like to help others get clerical work done? If so, then considering becoming a virtual assistant! You can start your own VA company or work with a contracting company to hire you out. Both are great options that can lead to extra income. Check out CGS Podcast Episode 64 – How to Become a Virtual Assistant with Shatoria.
#5 Online Tutoring
Wyzant is one of the leading online tutoring companies. You could apply to become a tutor and get paid for your work. The more tutoring clients you take on, the more money you can make!
#6 Deliver with Postmates or Amazon Flex
You don’t have to deliver food or groceries to make money! You could deliver other things with Postmates or Amazon Flex. I have a client who does Amazon Flex on a regular basis and often brings in $400-$700 every week! Amazon is not getting any smaller, so claim your stake and make some extra money!
#7 Teach English Online
Want to help teach the English language to foreign children? VIPKid allows you to teach English to kids from other countries! You get to set your own schedule and get paid for your lessons. It’s all virtual too, so leaving the house is not necessary!
#8 Sell Services on Fiverr or Upwork
Maybe you want to freelance, instead of starting your own business. If you like graphic design, copywriting, website creation, or any other service, consider becoming a freelancer! You can offer your services for sale on a case-by-case basis with Fiverr or Upwork. You decide which projects to take and you call the shots on how many you do and what you charge.
#9 Dog Walking or Pet Sitting
Do you love furry friends? Wag offers dog-walking services for people who can’t always get their pups out and about. You can become a Wag walker! You can also become a pet-sitter. This could lead to a lot of extra cash, depending on the hours!
I’m just becoming familiar with dropshipping, but according to Side Hustle Nation, “Dropshippers set up their own storefront and process sales, but never touch the actual product. Instead, the items are shipped directly to the customer from the manufacturer or wholesaler.”
#11 Coaching or Consulting
Are you skilled in a particular area? Would you like to make money by helping people with that area? Become a coach or consultant and you can start making money instantly! You’ll have to get everything established first, but it could become a lucrative source of income for you!
#12 Rent Out a Room
Want an easy way to make extra cash each month? Rent out a room in your place! You can AirBnB it on special occasions in your city, or you can have a lease with a term. Either way, it’s a great way to help you cover your current rent or mortgage!
Depending on what your goals are and how hard you want to work for them, adding any of the income stream options above to your tool belt can yield great returns. Make sure you take care of yourself so that you can be in the income-generating mode for the long haul. Or, until you reach your end goal! How many income streams do you currently have? If you were going to add new streams of income to the mix, what would they be? Post a comment below to share and get the discussion going!