You are currently viewing 7 ways to earn extra income even with a full-time job

7 ways to earn extra income even with a full-time job

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Is your declining bank account impacting your health? The American Psychological Association (APA) released a survey showing that financial stress is impacting the health of Americans nationwide. And, it turns out, the wealthy are also stressed about money – not just those in low-income households.

You can take some of that financial stress out by earning extra income, even if you have a full-time job. MyWifeQuitHerJob’s Steve Chou has started two six-figure businesses while still working his day job.

Related: 9 Ideas to Earn a Side Income While Growing Your Business

Whether you’re looking for money to launch your startup or make new investments, or to get out of mounting debt, a few hundred to a few thousand dollars a month can be life changing. Here’s how to start.

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Start a service business

Starting a service business can be done without a large network, online presence, or a lot of overhead. The easiest way to start is to tell your existing network members what you offer and ask them to spread the word.

AppSumo’s Noah Kagan nailed this concept. He decided to see if he could make $1,000 in 24 hours, starting from scratch. He ended up successfully founding a successful beef jerky subscription business which he handed over to one of his students.

You can steal his concept, with a business like catering, freelance writing, or online marketing. Start by creating a killer outreach email to be up and running in just days.

Related: 105 Service Businesses to Start Today

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Invest in real estate

Becoming a homeowner is not always practical for those who work full time and are already strapped for cash. But you can consider buying a condo or small property in another country as a getaway instead. The price is usually cheaper, even when you hire a local property management group to manage tenants while you’re away.

Commercial real estate can also be a lucrative way to invest and earn passive income, even without a large down payment. Start with a site like Realty Mogul and invest in commercial real estate for as little as $5,000. You’ll get approved deals and access premium listings you wouldn’t otherwise find.

Read it: The book on investing in real estate with no (and little) money down by Brandon Turner | Amazon

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Launch an online resource

Share your expertise by launching an ebook or online course to help others while you earn passive income. My own ebook, 100 days of growth, ended up generating more income than my day job. It was a ton of up-front work, but once it was ready to go, it took minimal effort to maintain it and keep up with sales.

If writing ebooks isn’t your forte, start a video course or bootcamp instead. I didn’t stop at books – I also started a content marketing bootcamp through ContentMarketer.io to help my clients master content marketing skills in 10 weeks.

Read it: Start your own e-learning or training business by The Staff at Entrepreneur Media and Ciree Linsenmann | Amazon

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Leverage the power of Amazon

It’s always an admirable goal to launch your own online store and build up a clientele, but you also talk about wearing a lot of different hats. You need to research products, find a manufacturer, market your site, and figure out how to fulfill orders. Don’t forget customer service and refund requests.

Instead, you could sell a product and build a presence directly on Amazon without having to take on so many roles. Some sellers even have their products shipped directly to Amazon’s fulfillment center and never touch the product itself.

Read it: amazon FBA: step-by-step instructions to start an execution by Amazon Business by Robert C. Hawthorn

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Join the sharing economy

It’s not hard to come up with a few hundred to thousands of dollars a month by taking advantage of the sharing economy. But it’s not just about renting out your spare room or basement on Airbnb. Rent your car on Turo and bike to work or carpool. Rent your photo equipment lying around at home on Cameralends, your snowboard or your bike on Spinlister or your sailboat on Sailo.

And if you’re considering renting on Airbnb, consider helping your income skyrocket by renting out your entire home instead and taking the opportunity to visit family or go on vacation.

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Organize an event

You can make money hosting events without aiming for thousands of registrations, vendors, and high profile guest speakers. Instead, form a free MeetUp group on a topic you know well, like growth hacking, and host free events.

Once you’ve secured a loyal following, bill for an event with a reputable guest speaker. Rent a small, high-end conference room at a nearby hotel and grow your new MeetUp by hosting exclusive, sought-after events that charge a premium for fantastic content.

Read it: Start your own event planning business by the staff of Entrepreneur Media and Cheryl Kimball | Amazon

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Get paid to do what you already do

Take inventory of what you do in your free time. People who love skydiving (like me!) can get certified to teach and do weekend jumps. You can do what you love while earning extra money at the same time. Ask your local bar if you can help organize their quiz night, or help yourself to a bar a few nights a week while hanging out and chatting with interesting people.

Related: 7.1 Steps to Create Multiple Streams of Income

Even if you aren’t interested in doing much more than relaxing and surfing online, you can make money testing websites and recording your opinion on a site like UserTesting.

So get out of here. Use your imagination to start an extra income stream today.

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