Nowadays, more and more full time employees feel the need to have other sources of income, especially those who have family to support. It’s a fact that for some people, the monthly income can barely sustain the expenses for their basic needs, and most often than not, no extra cash can be spent on wants. Some of the questions that usually linger in your thought are as follows:
“How can I earn extra money?”
“What are the possible sources?”
“Who can help me?”
I myself ask these kind questions. Luckily, I found some means to earn extra money, which I’m glad to share. But before anything else, there are several concepts to you should be aware of.
Understand 8-8-8 model
I mentioned this model in one of my posts. This basically states that a full-time employee generally has the following time distribution during the 5 day workweek:
8 hours of sleep
8 hours of work (full time job)
8 hours of personal time
The 8-hour personal time is usually spent on activities like:
- Lunch break
- Transportation
- Preparation for work (taking a bath, making meals)
- Rest and recreation
The main idea here is to maximize your 8-hour personal time. If you spend your time to do overtime work in the office, especially if there’s no extra pay, then you might want to think again. Yes, your boss might notice your extra effort, but you should be aware that if you do it more often, you’re losing the chance of making extra money. Among the three eights of your time, this is the only one that has the potential of making extra money since a) you do not want to shorten your sleep so much, otherwise you won’t have the energy to do all of your work and b) your 8-hour job is still your bread and butter, at least for now.
There is no such thing as time management
When some people hear news like, “Hey, I got an idea that can make us $100 or more!”, they become very interested. But upon knowing the details on how to achieve it, especially if the work requires an hour or two everyday, you’ll hear them say, “I don’t have enough time” or “I’m too occupied in my work now”. This kind of mindset is true for many people.
You should understand that all of us get the same 24 hours a day. If you want to earn extra money, the key is to manage your activities. Some people would spend up to 5 hours just playing computer games. Others would spend extra hours for their full-time work. To beat the feeling of overwhelm and the ‘not enough time’ mentality, you need to overcome procrastination. Again, the solution is to manage your activities. This will help you clear some space in your day to spend on your other money-making efforts.
Spend your weekend wisely
Weekends are supposed to be spent with the family. No question about that. But a few hours spent to earn extra money should be justifiable. After all, all the proceeds will be used by the family. If you are single, your extra income can be used to pay for the bills, buy some gadgets, or invest in some income generating assets.
Act now!
Of course, you can’t realize the potential of your thoughts unless you put it into action. Ideas are useless if not applied. And when is the best time to do so? Now!
Here are some suggestions:
Do freelance jobs
Depending on your skills and interest, you can find work that fits you. You can do services like article writing, programming, tutorial, health & fitness advisory, consulting, etc. Jobs like this can be found in the internet or in your local area. You just have to put some effort to look for it.Sell something
Businesses gain profits through the sales of services or products. As a businessman, you can earn using the traditional way of creating your own product and selling them. If you don’t have products to sell, you still can earn money through commissions by selling other’s goods. Sometimes, you can even earn a cut by just referring buyers to merchants. Activities under this include the sale of real estate, insurance, books, computers, gadgets, etc. Again, the venue for this can be online of offline.Earn extra money online
The internet has introduced lots of ways to earn extra money. These include but are not limited to blogging, article writing, affiliate marketing, advertising, internet marketing, freelance jobs and buy-and-sell businesses. You just have to focus and understand the different means, then find which are appropriate for you.