How many of you have multiple streams of income? This might sound like an irrelevant question when you have a great paying job or a successful business. You might not think it’s necessary to have another stream of income or a side hustle that provides some extra income. During times of good health and wealth, it may not be that necessary. But during times like this coronavirus pandemic, it might be the difference between barely making it and being financially comfortable.
We are two months into the pandemic and thousands of people have been out of jobs. Many are on temporary leave, some laid off and others fired. Fortunately for us, both my husband and I are ‘essential’ workers and still have work and we don’t have any other major responsibilities. Now, what about if we both had stopped working for two months? How would that change the scenario?
This is when having a side hustle, knowing more skills than just work-related and having another stream of income can make a big difference. You may ask what kind of side hustles can provide another stream of income. The possibilities are endless!
I’ll give you a short list of basic small scaled side hustles here.
for more ideas
- Tutor/ Babysit
- Caregiver/Personal assistant
- Coach someone/teach a sport
- Teach art/dance/music/language
- Sow/quilt/crochet
- Photography
- Blog/You-tube
- Dog-sit
- Party/Event plan
- Craft/Painting
- Airbnb your free space
- Lawn service
- Tech/computer support
- Car repair
- Sign up for research studies
- Any kind of ride-share/delivery jobs
You may think these are very small side incomes and they are, initially. All of these are tasks and skills you can learn which takes little to no formal education. If you work on a specific skill over time, improve your results and keep growing, your stream of income will also grow with it. There are many people who started off with these small hustles and have made it into an additional stream of steady income and even a growing business.
Call for ACTION: Take some time to write down possible side hustles that you can do with the skill set you already have. Think if you didn’t have the steady income you have with your main career, what else are you good at that you can monetize?
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