We’re living in a cost of living crisis. This means that times are, without a doubt, tough for many of us right now. If you have kids to provide for, you may find that your regular wages just aren’t cutting it anymore. Sadly, the cost of non-negotiable essentials like housing, fuel, energy and food are on the rise and the rate of pay isn’t rising in line with it. Inflation is hitting many of us hard and you may be wondering how to keep up. Now, there are some straightforward options, like taking on overtime at work. But you may find that you are unable to afford the childcare costs that would come hand in hand with accepting it, or that your company just doesn’t have enough work for overtime for everyone right now. It’s not all too surprising that many of us are considering picking up a form of side hustle. Here are some ideas that could help you with this.
Investing
Investing money in the right areas could see your money grow. Of course, you can only invest money that you’re potentially willing to lose, as all investments come hand in hand with risk and no investment is 100% guaranteed to pay off. But you could take some time to look into different forms of trading or investments like NFTs or cryptocurrency at topcryptocurrency.net. You need to do plenty of research before putting money into investments to make sure that you’re being wise. If you’re stuck, you can always reach out to a financial advisor for help!
Freelancing
Do you have a skill that you can sell? Freelancing could be a good idea for you. When you freelance, you register as self employed and become able to accept projects from clients on a contracted basis. You get a lot of freedom in this field. You choose how much additional work you take on and how much you will charge for it, giving you more freedom to work a little here and there, without having to commit to a permanent second job. Common skills that you can cash in on as a freelancer include photography, copywriting, graphic design, accounting, life coaching and more. Just make sure you account for your taxes with each pay check!
Passive Income
If you have some money to invest, you could create a side hustle by creating a form of passive income. These tend to be longer term projects but can really pay off in the long run. Ideas could include buying to let or building some sort of cabin or mini home on your land to rent out as an airbnb.
There really are a lot of different ways to make money, so it’s important that you look through all of the options that are available to you. Hopefully, some of the suggestions outlined above should help to get your journey started off in the right direction, putting more money in your pocket and helping you to support your family through these tough times!
