The fall season is just around the corner, so it's time to prepare yourself for the cool weather, light breezes, and floating leaves. But that's not all you should prepare; fall is a time where everyone unwinds from the exciting adventures you had during summer. You might have spent more than your fair share of money and are looking for a simple, yet effective way to make it back. In this case, there's no better way to earn extra funds than by getting a side hustle or a passive income. In this article, we'll be covering the best ways you can earn more money this fall.
Become a Virtual Consultant
Consultants are professionals who give others advice about a certain niche to help them be more successful. Who you end up working with depends on the niche you're well-versed in. You can be working with college professors, lawyers, doctors, marketing firms and HR companies. Thanks to the innovation of technology and the internet, there's no need to be in a physical office to give professional advice. These days, consulting appointments are done virtually via an instant communication platform.
Go Back to College
If you are looking for a traditional way to earn more money, then furthering your education might be just the thing. While college is not for everyone, there is no mistake about what earning a degree can do for your earning potential long-term. There are ways to earn more money without a degree, such as going into a trade, or entrepreneurship, but although common, those are both niche routes. Many find that investing in their education, although significant, has the best ROI over time.
By simply having that distinguishment on your resume you are putting yourself into a position to stand apart from others in the job pool, seeking the same money-making opportunities as you. Granted, college is expensive, so you may not be able to afford it outright. That's why you should take out a student loan to cover the costs. Student loans can pay for everything relating to your education ranging from books to dorm rooms.
Consider Investing Your Money
Investing your money is something you may not have even considered, and for good reason. After all, investments are risky and can cause financial issues if you're not careful. However, investing isn't anywhere near as risky as it used to be. In fact, you might be surprised to know that there are so many investing tips for beginners and investing has become an incredibly popular form of passive income. Here's a quick list of the different types of investments:
- High-yield savings accounts
- The stock market
- Mutual funds
- Bonds
- Exchange traded funds (ETFs)
- Real estate
The last one might shock you, but real estate is currently generally a safe and profitable form of investment. Though, that's not to say real estate is perfect; it has its own risks to consider. For one, the location plays a critical role as people want to be in a safe and convenient area. Regardless of how you go about investing, always be sure to research everything before jumping in. If you play your cards correctly, you could receive one of the best passive incomes to date.
Looking to Affiliate Marketing
Here's the second best form of passive income; affiliate marketing. Affiliate marketing is when you basically advertise products and services provided by other companies. You'll then earn a commission based on how many people made a purchase through the link on your website, blog, or social media. If you remain consistent and continue to provide value to a company, you could possibly see a sponsorship offer, which can net you money. Granted, this isn't an instantaneous process; it can take a while, typically a few months, to start seeing a stable source of income. Again, you must be consistent with your posts, so you can build up an audience and a reputation.
Start Driving for Uber
Uber is the go-to option when it comes to transportation. It's also a fantastic side hustle as trips can average around $10 to $15. Everyone is always trying to get a ride, so you'll almost never be out of work. There are also various options you can choose from ranging from Uber X, Uber Pet or just the standard Uber. Each one has their own rates, so consider which will work best for you.
Become a Dog Walker
If you're someone who loves dogs, then this side hustle is just for you. Dog walking is one of the best side hustles because not only do you get to walk dogs for a living, but you also get amazing exercise on top of it. Furthermore, you can also choose to be a dog walker in your own apartment building or neighborhood. Alternatively, you can consider working for an established company. These dog walking companies are always looking for people who are passionate about animals and willing to walk long distances, so be sure to research further if you're interested.
Aidan has been writing about personal finance for over 6 years. Prior to this, he worked as a Corporate Finance Analyst where he specialized in Due Diligence, Company Valuations and more. He is a CFA charterholder.