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12 Ways To Earn More Money While You Have A Full-Time Job

12 Ways To Earn More Money While You Have A Full-Time Job

In a world where we are faced with towering levels of responsibilities, it has become common for adults to take on two or more jobs to earn more money and make ends meet. Whether it’s to support one’s education, help a loved one financially, or simply to make sure that we are financially secured, acquiring more than one job is no longer out of the ordinary. We’re now more adaptive to our environment and the endless changes that cross our paths, making us braver to step ahead from mediocrity.

In this modern age, advanced technology is something that people take advantage of. It has now become a platform where work is done faster and where communication is easier. Through these conduits, entrepreneurs and job-seeking individuals have become dependent on the internet.

For some however, earning extra can still be done the old-fashioned way. Your skill set and internal strength define what services you can offer.

If you’re thinking about expanding your horizons and taking on a new source of income, you have come to the right place. Here’s a list of jobs that can help provide the extra earnings that you need:

1. Tutor online

This has become a common part-time job for some who already have day jobs. The good thing about being an online tutor is that you are totally in control of your time. Most online tutors provide English lessons to non-English speaking individuals from countries like South Korea or China.

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2. Be an online writer

This is another common part-time job for job seekers. Although this is a little bit more complex than being an online tutor, getting a job as online writer is a surefire way to broaden your knowledge about something you haven’t encountered before.

3. Post videos on Youtube

Social media channels like Youtube offer their users a fun, engaging way to earn by simply posting videos on their site. Clips that contain pornographic, offensive and/or inappropriate material are big deal-breakers. Remember, if you want to make money online, do it in a decent way.

4. Invest in stocks

Stock investment is an area that entrepreneurs usually take part in. By investing your money through stocks and bonds in the international market, there’s a risk that you need to be prepared for. If you think you have enough courage to put your savings out there, then go for it. Just make sure you have a financial advisor to monitor your progress.

5. Become a freelance consultant

If you have a broad knowledge of a certain subject, like accounting, law, or sales, then this kind of part-time job is the right one for you. Assess your own previous experiences that have helped you become an expert in your field. Employers are now willing to hire freelancers to cover their short-term projects.

6. Offer typing jobs

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    Photo credit: Source

    Proud of your typing skills? Let your skill be known by seeking out employers who need help in completing a typing project. This kind of job usually comes with deadlines, so make sure you get the job done as discussed.

    7. Be a babysitter

    If you’re tired working in front of a computer all day and need some time to earn comfortably, getting a job as a babysitter could be the right one for you. Babies will be your bosses and your sole job requirement is to keep them happy. Win-win, right?

    8. Take nightshift gigs

    If you love an active nightlife, embrace it even more by seeking out jobs that operate past 6 pm. Bartending, waiting tables, or DJ-ing are some of the jobs you’ll find in this area.

    9. Sell baked goodies

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      Photo credit: Source

      If you have the tools, knowledge, and a handy recipe book, selling cookies, cupcakes, bread, and other baked goods may be a great part-time gig for you. Be mindful of your quality, as this will be your top asset among your competition.

      10. Be an Uber driver

        Photo credit: Source

        Someone who loves to drive and knows the rules of the road is the perfect person to be an Uber driver. If you think you exemplify these attributes, why not try giving it a shot?

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        11. Be an online translator

        If you’re bilingual or multi-lingual, there’s a long list of employers who are waiting to hire someone with your skill set.

        12. Sell used items, like gadgets

        Let go of your old gadgets by selling them online. Not only you have made a profit from them, but you can also make someone extra-happy by selling them for a low price!

        I hope this list helped you in picking out your new part-time job! Good luck in your new endeavor!

        Featured photo credit: To Earn More Money via lifehack.org

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        Last Updated on June 6, 2019

        The Average Retirement Savings and How to Save Wisely

        The Average Retirement Savings and How to Save Wisely

        Are you on track for retirement?

        If not, don’t worry, I’m not sure either. I save each month and hope for the best.

        Fortunately, I’m at an age where most people don’t save so I’m ahead of the curve.

        But, what if you aren’t in your 20s? What if you’re near retirement and are looking to gauge where you stand?

        If so, keep reading. Here’s how to prepare for retirement and save wisely during the process.

        What Does the Average American Have Saved for Retirement?

        Saving for retirement is tricky.

        Tell someone straight out of college to save $10k a year for retirement and it’ll be next to impossible.

        Make the same request to someone decades older and they’d be more likely to be able to save this amount. But, a 20-year old college student can be “financially ahead” of someone saving more than them. Why?

        Age matters in your financial journey. The younger you are, the more time you have to save and put compound interest to work. As you get older and have more saving power, you’d have less time to put compound interest to work.

        Here are the average savings Americans hold by age bracket:

        20’s – $16,000

        During this stage, most people are paying loans and moving up the corporate ladder. Your best bet during this stage is to focus on eliminating debt and increasing your income. Don’t focus only on getting a high-paying job neither.

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        Instead, focus on learning via Podcasts, reading books, and taking specialized courses. Doing this will make you more valuable and give you more career options.

        30’s – $45,000

        At this stage, you’ve hopefully escaped your entry-level salary and work at a career you enjoy. Your earning power has increased but you now have more obligations. For example, marriage, kids, and a mortgage.

        Set a plan to pay off all your debt and focus on eliminating unnecessary expenses. Leverage financial tools like Personal Capital to ensure you’re on track for retirement.

        40’s – $63,000

        This is the stage where you’re at the prime of your career. Top financial institutions recommend you have at least 2 to 4 times your salary saved up. If you’re falling behind, start maxing out your 401K and Roth IRA accounts.

        50’s – $115,000

        During your fifties, you’re close to retirement but still, have time to save. You may be helping your kids pay college tuition and other expenses. Since you’re at the peak of your earning power, max out all your retirement accounts.

        60’s – $172,000

        By this point, you should have about eight times your salary saved up. If not, you’ll depend primarily on social security benefits averaging $1400 per month. Max out all your retirement options as much as possible before retiring.

        Ways to Save Money on a Tight Budget

        The sad reality is that most Americans aren’t saving enough for retirement.

        Even high-earning power isn’t enough to secure one’s financial future. You need to have the discipline to save for retirement while time is in your favor. Don’t wait for you to have a high salary to save, start with having a small budget.

        First, get a clear picture of where you stand. Write down a list of “needs” and “wants.” For example, Netflix and Amazon Prime are “wants” and a “cell-phone” is a need.

        Use tools like Personal Capital to analyze your spending patterns. Personal Capital allows you to add all your financial data in one place–making it a powerful option to gauge where you stand.

        Once you know all your expenses, organize them from highest to lowest expense. When you can’t cut more expenses, call your service providers to negotiate a lower price. If you’re not good at negotiating, use services like Trimm to lower your monthly expenses.

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        How to Save Money Each Month

        By this point, you know the average amount of money you should have saved for retirement based on your age.

        But, breaking this down into monthly goals can be challenging. Here are some rule of thumbs to follow:

        Aim to contribute 10%–15% of your salary each paycheck. Review your progress each week.

        Why so often? The reality is that life gets in our way and you will have many financial setbacks. Your goal isn’t to be perfect but to get back on track instead.

        Reviewing your finances weekly lets you know where you stand with your retirement. This doesn’t have to be a long process either. All it takes is login in Personal Capital to view your net worth and check how much you have saved for retirement.

        Turn saving into a game and aim to save more each month. It will get challenging but you’ll get creative and find more ways to save.

        Top Money Saving Challenge Tips

        To prepare for your financial future and not be another statistic you need to be different.

        How?

        By adopting new habits that’ll help you become a saving machine. Here are some ways you can save more:

        Automatically Contribute Towards Retirement

        If you’re working for a company, you can automatically contribute towards your 401k. If you’re not currently contributing more than 10%, make this your goal. Contribute 1% more today and automatically increase this amount a year from now.

        Odds are that you’re not going to be negatively affected by contributing 1% more. Many times we spend our money on things we don’t need. Contributing more towards retirement is a great way to secure your financial future.

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        Use the Right Tools to Know Where You Stand

        Once you’re contributing more towards your retirement accounts, gauge your progress. Make use of finance tracking apps to help you view the big picture of your retirement.

        When I’d first signed up for the app Personal Capital, I didn’t know I had a negative net worth. Despite saving thousands of dollars, my debt brought my net worth to the negative. Knowing this motivated me to save more and spend less.

        Now, I have a positive net worth. But, it was because I was able to view the big picture using the app. Find out what your net worth is using a finance tracking app and you may surprise yourself.

        Bring in Experts to View Your Blind Spots

        If you have too little or too much money saved, you should consider hiring financial experts.

        Why?

        You may need someone to hold you accountable to help you reach your financial goals. Or, you may need help managing your money as effective as possible.

        Regardless of the reason, getting help may help improve your financial situation.

        Before you hire an expert, find out which areas you need help the most. For example, if you’re constantly overspending, find a debt counselor. If you’re struggling with choosing the best investment options, hire a financial advisor.

        Speed up Your Retirement Contribution

        After learning how to manage your money well, the next best thing is to earn a higher income.

        You’re capped at how much you can save but not much you can earn. Even if your employer isn’t giving you a promotion, you can still take charge of your financial future. How?

        By starting a side-business.

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        This will be something you’d work on after you’ve finished your day job. Once you start earning income from your side-business, you’ll be financially better off.

        The best part is the more work you put into your side-business,[1] the more potential it has to earn more money.

        So start a side-business in an area you’re familiar with. For example, if you enjoy writing, do freelance writing for small e-commerce businesses.

        Once you’re earning a higher income, you can contribute more towards your retirement. Don’t wait for the right opportunity to secure your financial future, create one.

        Reach Financial Freedom with Confidence

        What if you were able to retire tomorrow with no problem, all because you’d have enough money saved up and little to no debt left to pay off? How would you feel?

        My guess is that you’d feel happy and relieved.

        Most Americans are falling behind their retirement goals for many reasons. They’re not prepared, they carry bad money-habits and are thinking short-term.

        For you to retire successfully, you need to work backward and adopt better habits. Contribute more towards your 401K and focus on growing your income.

        If you do, you’ll save money and pay debt faster.

        Don’t beat yourself up if you’re behind your retirement goals. Take the first step today towards a brighter financial future. Isn’t retirement worth the hard work and sacrifice to be at peace?

        Featured photo credit: Huy Phan via unsplash.com

        Reference

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