10 Ways to earn extra income after work hours
Published on 25th February, 2022 at 04:35 pm
Looking to earn extra income so that you can reach your financial goals? Here are 10 side-hustle ideas to consider, based on your skills and talents.
A 2021 Sanlam survey revealed that 54% of South Africans are not managing to make their money last until payday. This is why side hustles are becoming increasingly popular as people try to earn extra income.
This is something that Jiten Singh, director at Future Vision BlueStar, underwritten by Sanlam, has noticed, too. “Having a side hustle as a means to free up debt and have a diverse stream of income can relieve a huge amount of strain when it comes to your financial wellbeing,” he says. And while many people go the route of trying to put more into savings and shop smarter, this can lead to a stressful and restrictive life. “You can only reduce expenses so much, so the only other option is to look for more than one source of income,” explains Singh.
Want to start generating extra income but not sure where to start? Here are 10 side-hustle ideas to motivate you to turn your skills and talents into cold, hard cash.
#1: Join the gig economy
One way to earn extra income is to freelance your skills, from graphic design to writing. Biological researcher Ariella Rink does transcriptions on Upwork, an online platform that connects businesses with freelancers, when she’s not in a lab or on-site. “This platform allows me to make extra cash when I need it and have free time (that I would otherwise not be spending productively),” she says.
Saving your side hustle earnings for something specific? Find out how much you need to put away each month to reach your goals with this handy savings calculator.
#2: Monetise your talents
Are you a baking whizz, have a photographic eye or perhaps have a skill for pottery? If you are living pay cheque to pay cheque and have a hobby or talent that you enjoy doing anyway, why not try making money from it? Start your own home business and create social media accounts for them to show off your wares online and generate sales.
#3: Sell your preloved items
Most of us could admit to having some clothing or furniture gathering dust in our homes. And what you might deem trash might just be someone else’s treasure! Haul them out, give them a spruce-up and sell them online. There are plenty of easy-to-use platforms, such as Gumtree and Facebook Marketplace.
#4: Offer house- and pet-sitting services
House- and pet-sitters are in high demand over the holidays, so advertise in your community groups to get booked. Neil Bester is a book designer and has been housesitting on the side for over a decade. “It can be lucrative, with rates going from over R200 a day. It doesn’t require physical work and doesn’t necessarily disrupt your daily life, either,” he explains.
Feel like you’re doing a lot more spending than saving? Use this budget template to set the right foundation for a budget that works for you.
#5: Become a driver
There are several popular apps, such as Uber and Bolt, that are used throughout the country for hailing taxis. Working for them as an independent contractor means that you get to set your own hours. This means you could do it before your day job starts or after your shift for some extra income.
#6: Rent out your vehicle to drivers
Want to make money from your vehicle without having to do the driving? Companies, such as RentMyRide, let car owners sign up to allow other people to rent theirs out. They evaluate your car before putting you on their books, so make sure it’s clean, roadworthy and in good condition.
#7: Walk people’s dogs
Many well-meaning dog owners don’t have the time in their busy schedules to give their pooches the stimulation they need. If you love spending time with animals this can not only be a way to earn some extra income, but can be fun and fulfilling, too. Just don’t forget the poop bags!
#8: Turn your spare room or property into accommodation
Platforms like Airbnb and LekkeSlaap allow you to list and rent out a room or property for guests. “Depending on the time of year and where you’re located, you can make triple what you would with a regular long-term tenant,” explains Simon Wylie, who manages his property in Marina da Gama in Cape Town. “Meeting new people from here and abroad is also a perk!”
#9: Offer babysitting services
Occasionally mom and dad need a night out. That’s where you can swoop in to give them some much-needed time off. Signing up to join a babysitting agency could score you more gigs than advertising your services online, as they vet their sitters to ensure peace of mind for the parents.
#10: Tutor school pupils or students
When it comes to getting their kids top marks, parents are willing to pay! If you have relevant knowledge of a particular subject in the school curriculum or at tertiary institutions, you can become a tutor, either privately or with one of the many agencies across SA, to earn extra income while helping people succeed.
Need help planning your financial future and sorting out your extra income? Speak to a financial planner for advice tailored to your needs.
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