If you are struggling financially, even though you made a budget and are tracking your spending, then you need ways to bring in more cash. Getting a side gig is one strategy that has caught on around the world.
Reduce Debt and Improve Your Credit Score
Of course, your first tactic is to reduce your debt and improve your credit score (which is tied to your debt). If you can tackle these two tasks, you will go a long way toward having more money to pay yourself.
As we know, a poor credit score costs you more money for everything and can even keep you from a good job. If you have a lot of debt, such as credit card debt and consumer loans, you will not have the money you need to meet your financial goals. If you cannot pay your bills on time, then the high-interest rates and late fees will create a situation where you are trapped in debt.
Therefore, your first priority has to be to get rid of debt and improve your credit score.
Make Money from Home to Cover the Gaps
If you are not able to get a new job with a better salary, then you need to come up with a secondary income stream. Working from home is a great option. You can work from home after your regular job, according to the additional number of hours that you feel you can handle.
In some cases, your work from home job can bring you additional income very quickly, making it the perfect strategy to deal with those potential debt disasters staring you in the face.
If you google “work from home” you will find tons of sites that promise you a quick income. You have to be careful and not be lured by promises of get-rich-quick schemes. Even working from home requires effort, patience, and resilience.
5 Legitimate and Easy Ways to Make Money from Home
This is a great way to make money from home. Turn your education and skills into a steady revenue stream. You can tutor in person from your home or online. If you can teach ESL, you will find lots of opportunities. But there is also a great need for tutors to help students pass their entrance exams or keep up with classwork. For online tutoring gigs check out Course Hero, Tutor, or Wyzant.
- Home Business
Ready to actualize that great idea that has been percolating around in your head? Maybe now is the time to launch it. How quickly you can launch and see an income stream depends on your idea. But remember, Bill Gates started in his garage. If you have a skill or talent that people need, like photography, seamstress, caterer, scrapbooking, wedding/party planner, or organizer, you will have an easy time launching your home business.
If you are a fast typist, and have a good office setup at home, including high-speed internet, a computer with word processing software and noise-canceling headphones, then working from home as a transcriptionist could be an excellent choice. You do need to have some familiarity with data processing applications, be good with computers, and have the patience to churn out the work. But the pay can be pretty good. You can google “transcriber” or you can go to online sites such as PeoplePerHour, Go Transcript or UpWork.
- Copy Editor
Freelancing as a copy editor is another good way to make money from home. Like being a transcriptionist, it requires a computer and internet access. But if you are detail oriented, have a good command of the English (or other) language working as a copy editor might be the perfect gig for you. Online freelance sites such as Fiverr, Super Copy Editors, and FlexJobs are good resources for finding work as a copy editor.
- Online Surveys
Okay, this one is as close as you can get to “easy, quick money.” There are lots of sites that will pay you just for filling out a survey. What they need is market data, and for companies, this is a low-cost way to do it. Be careful though. If you need to pay to fill out surveys, skip it. Try these survey websites: Opinion Outpost, MyPoints, and Survey Spot.
Bottom line: There are many ways you can make money from home. Set your goals. If you are going to work online, carefully check out every website. Make sure you get paid. And use that money to get rid of your debt. You will have money to pay yourself. Who knows, that work-from-home side gig could turn into a full-time home business.