5 Tips on Generating Another Stream of Income

5 Tips on Generating Another Stream of Income

If you just can’t seem to make ends meet with income from your regular 9 to 5 job, why not make some extra cash on the side? It’s easier than you may think, plus the overhead costs are low since you can do many things from the comfort of your own home. To raise money for your venture, sell everything you don’t need, using online sites like Craigslist or eBay, or visit a pawn shop like montedepiedad.com. Whatever you do, the point is to gather some start up cash and use it as an investment.

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Here are five tips on generating another stream of revenue to supplement what you already earn.

  1. Need funds on your new project? Go to Kickstarter and get your friends and family to back you on a project. This website helps artists, musicians, filmmakers, designers, and other creators find the resources they need to make their dreams come true. Got a creative project you want to get off the ground? Head to the Kickstarter community to find support.
  2. Everybody talks about investing in real estate as the big money maker, but how about doing something like this on a smaller scale and renting out a room or your cottage to a traveler through airbnb.com? You get extra income; they get an affordable place to stay that has local charm.
  3. Have nothing to do after you get out of work? Become an Uber driver and work your own hours. If you haven’t used Uber, it’s like a taxi service, but you’ll be picked up by a driver using his or her own car. Not only is it cheaper than a taxi, it’s safer too. When you order a driver, you can view a photo of the person who will be picking you up as well as some background info. Plus, everything is paid via the Uber app so no cash has to exchange hands. Another good alternative is Lyft, which operates on a similar concept.
  4. Do you have any skills that can be done online? Go to Upwork and build your profile. You can start bidding on jobs. The great thing is that you can work from home writing, editing, programming, developing or designing websites. When you join this online network of professionals, you can be hired directly from clients looking for your specific services.
  5. Invest in the stock or bond market. Depending on your level of comfort, there are many types of financial investments that can give you added income. Let your money work for you. Always keep the info of a stock fraud attorney handy, especially if you have a stockbroker.

Here at Thomas Law Group, we specialize in recovering losses for investors. If you require our services, please give us a call at 800-797-9888 now.

Use these above tips to generate additional income you can use to pay the bills, go on a vacation or just splurge every once in awhile.