It’s never been so easy to find jobs that don’t fit the nine-to-five category. The world is changing and with the help of the internet, smartphones, and the gig economy, people everywhere are making money on their own terms. If you’re ready to break out of the traditional job box, you need to have a plan that will help you achieve work-life balance while you engage in fulfilling part-time work.
Here are some ideas to get you started on your exciting new life and make an independent living to support your family without a typical job:
Have a Spending Budget
Before you start thinking about all the new ways you could be making money, it’s important to think about how you’ve been spending it. When you create and stick to a detailed budget, you’ll have extra money at the end of the month.
No one likes to budget, but it can be easier than you think. You could cook more at home instead of eating out or having takeout. You should use discount coupons to buy clothes or wait for sale. Sometimes just by cutting or downgrading the cable TV, you can save tons of money. Sit down with your family and brainstorm ideas on how you can save money.
Do Online Work
Nowadays, with websites like Upwork or Fiverr, anyone can be a freelancer. You’d be surprised to know the type of skills employers are looking for on these platforms. If there’s something you can do well, then you probably can make money from it.
If you’re lucky enough to be bilingual, then there are translation jobs waiting for you. Maybe you’re a great designer? Every company needs a logo. If your grammar and spelling have always been impeccable, then you should try your hand at being a copywriter.
Rent Your Empty Room
Do you have a guest room in your house which is pretty much abandoned? That you only use for relatives three times a year? Or maybe a junk room where you hide your unwanted stuff? If you do, you’re probably losing money.
Websites like AirBnb and Homeaway have completely changed the accommodation scene. Basically, any home can be a hotel! You just need to sign up and make your room available for people who want to stay. Easy peasy!
Be Your Own Boss
Uber is probably the most famous example of the gig economy. As long as you have a qualifying car, you can instantly become a “taxi” and start making money. If you don’t, you can always work for Postmates as a courier, using your bike or just walking everywhere.
Another interesting way to be your own boss is by using Amway or a similar company to sell products. Amway offers over 450 different products, and the process to become a distributor is straightforward. Just sign up and start your own business.
Have you ever thought about growing your own vegetables? The point here is not to sell produce, but to spend less money when you go grocery shopping. Sometimes a small investment can save you a lot in the long run.
Starting a vegetable garden can cost very little. Why pay £2 for a pack of tomatoes, when you can just buy the seeds and produce over 25 times that amount for less than that?
Sell Unused Stuff
You know that room full of junk you emptied to make money using Airbnb? Well, you can make money off that junk too! When eBay arrived, it was a game changer, but nowadays it’s even easier thanks to smartphone apps.
Another smart way of using eBay is to find bargains at thrift shops. It’s not uncommon to find cheap brand items with the price tags still on, which you can sell to make a hefty profit.
And you might even consider taking out a reverse loan if you’re over the age of 62. A reverse mortgage is a loan available to homeowners, 62 years or older, that allows them to convert part of the equity in their homes into cash. If you are in that age group then you can talk to lenders about your reverse mortgage options and compare the pros and cons. For example, an advantage of that type of home equity conversion loan is that you will still be the home owner and you cannot default unless you die or voluntarily leave the property. On the other hand, a reverse mortgage disadvantage is the fact that you cannot leave your home to your heirs unless they choose to pay off the loan balance, if one still exists when you pass away. Also, even if you pay off the debt owed in your lifetime, you will have to pay high interest on it.
There you have it — a few different ways to increase the amount of disposable income you’ll have at the end of the month. Now, the only thing you need to do is start! As soon as you see the money in your bank account and realize it was easier than you thought, you’ll get hooked. Before you know it, you’ll be a successful entrepreneur.
Do you have any other tips for making an independent living and supporting your family without succumbing to the rat race? Do share in a comment below!