The current economy is not our friend. Gas prices are soaring. Real estate prices are at an all-time high. From groceries to education, the cost of everything has increased, with the consumer price index (CPI) of food increasing by 9.5% in the last year.
Since many primary jobs do not seem to pay enough to cover people’s living costs, 45% of Americans have a side hustle or under-the-table job to help make extra income.
Do you find yourself constantly struggling to make ends meet, with mounting bills and the pressure of building a nest egg for the future weighing you down? The good news is that there are ways to earn extra cash that can help you relieve the financial burden.
With a little effort and knowledge, you can supplement your income and earn more money, all while covering your regular household expenses and building your savings. Here is a list of relatively easy ways you can earn some easy money in 2023:
Make Use of Affiliate Marketing
Affiliate marketing has always been an easy and underrated way to earn extra cash. The idea is simple. You earn a commission every time someone buys a product based on your recommendation. You post about products on your online platform such as social media or your blog; people click the link redirecting them to an affiliate product page. If they make a purchase, you make a percentage of that income.
Start Working as a Freelance Content Writer
Affiliate marketing is one of many ways to make money through content. Most companies need a content writer, whether for their website or a random project, at some point. In addition, the global market has moved almost entirely online, meaning there will never be a shortage of work if you’re a web content creator who markets themselves effectively.
Teach a Class Online
If you have a skill, no matter how useless or generic you think it is, someone will pay good money to learn it from you. Know the basics of baking? You can make money teaching the basics to someone who just got opened their oven. Know how to do simple car or household repairs? There is someone who wants to learn it. You can partner with some online educational organizations or even teach your classes on YouTube.
Get Into Influencer Marketing
In this era where every kid, sibling, and grandpa is a TikToker, it’s not easy to start making immediate cash through being an influencer. Creating a brand as an influencer can take solid planning, time, and effort. There is no manifesto or manual on how to succeed and there is no exact formula for going viral. Does that mean there is nothing to do than just put all your content up and hope for the best? Not really.
Some tips and tricks can often come in handy in this case. The idea to succeed in influencer marketing is to create something relevant and unique. What is something unique that you can do? Or maybe it’s something many people like, but no one seems to be talking about it yet. You can sell whatever you have as long as you have a unique take on it.
Create a Blog
Another thing you can do that will take time and willpower is start your own blog. There is no shortage of data people can consume. So, what is the point of adding another blog to this chaos? Creating a successful blog that brings in traffic that ultimately converts to money is not easy. But is it impossible? No. With the proper search engine optimization techniques, your blog can also appear at the top of Google search results. Just make sure you don’t choose an oversaturated niche. Also, ensure you have at least one USP (unique selling point) that sets you apart from your competitors.
Get Into The Stock Market
The stock market and options trading could be successful side businesses if you’re interested in investing and seeking a side gig. Options trading is when you can buy or sell contracts that give you the right, but not the obligation, to buy or sell an underlying asset like a stock or ETF at a certain price and time.
Reading books on options trading and practicing with a trial account are both crucial steps in getting started. You may also join Discord servers and online groups to connect with other traders and gain knowledge from their experiences. Options trading involves risk, but if you go into it with discipline and caution, it is a simple method to make money.
Easy Under-The-Table Jobs
While many side jobs on the list above can help you make extra income, the problem is that you still need to report what you earn from most of them. So, you will have to give away a hefty amount of what you make to taxes. Getting yourself an under-the-table job can come in handy here. These jobs usually pay in cash. So, you can directly put the money aside without you having to include them in your tax declarations. Below are a few examples of a few under-the-table jobs that can help you make some easy side income:
- Offer pet-sitting or grooming services
- Sell itineraries for popular travel destinations
- Babysit kids
- Offer house-sitting services
- Offer cleaning or housekeeping services
- Do some landscaping or snow shoveling
- Offer investing option strategies
The Options Are Endless
There are plenty of options here. You can help tutor kids at home, give swimming lessons, clean pools or cars, do minor repair work, etc. All jobs of these kinds can help you make extra income without having to report it in your tax files.
This article was produced and syndicated by Wealth of Geeks.