While I talk a lot about ways to save money on my blog and podcast, The Thought Card Podcast, I figured now would be a good time to talk about the creative ways I’ve managed to earn more as well. I wanted to grow my income as soon as I became a new homeowner, and the reality of having bills that outpaced my monthly take-home pay spurred me into action. But in my search, I had certain parameters. While searching for potential side hustles, I was looking for extra income ideas that honored my gifts and could do from the comfort of my home.
There may be various reasons why you may want to earn more money right now. Perhaps you want to reach your financial goals faster, save up for a trip or pay off debt. Or maybe you need the extra cash to make ends meet. Here are four ways that I have generated additional sources of income outside of my nine to five job while at home. Also, I’ll share some of my favorite content creators who I recommend following that will inspire you to monetize your skills and boost your income.
Get started with launching a profitable side hustle with the Launch Your Side Hustle course to learn about different types of side hustles, how to research demand and stand out, tips for pricing services, and so much more. Check out the Launch Your Side Hustle course here – included in the bundle, you’ll learn how I created this award-winning blog and all of the lessons I’ve learned along the way. Also, listen to this podcast episode where Daniella Flores shares how she creates lucrative side hustles.
5 Ways To Make Money From Home
Extra Income Ideas You Can Pursue Outside of Your 9-5
1. Writing Books
According to a 2002 survey, 81% of Americans said they wanted to write a book someday. If you’re reading this and want to write a book, why not turn someday into today?
After having “writing a book” on my to-do list for the last few years, I finally committed to making it happen last year. Now writing books is one of my favorite income streams from home. Over the last year, I’ve written two books – Iceland: Nature, Nurture & Adventure and Affording Travel: Saving Strategies For Financially Savvy Travelers.
While writing a book is far from passive, you can continuously generate book sales from it once it’s out in the world. Now more than ever, it’s easy for you to take control of the distribution of your work by self-publishing on Amazon Kindle Direct Publishing, Apple Books, Draft2Digital, and more. Create a paperback, hardcover, eBook, or audiobook.
If you’re well versed in a topic, writing a non-fiction book can be an easy way to package your knowledge and make more money throughout the year. Unlike freelancing, you don’t have to wait to get assigned work, and you can get started at any time.
Here are some tips for aspiring authors:
- Before you sit down and write your book, work on the outline.
- Get beta readers to provide feedback.
- Hire an editor to proofread.
For more lessons I’ve learned as a new author, press play, and listen to this podcast episode. Also, if you are looking for guidance on how to self-publish and market your book, sign up for the Make Money With eBooks Course – Self-Study Tier.
2. Launching Courses
Courses are another way that you can package your knowledge. I’ve found courses to be helpful for sharing a detailed step-by-step process that will lead to a transformation. While across the board course completion rates are low, creating a course where your students complete it at their own pace can be a great way to earn passive income. Before you get started, though, you need to know your ideal audience so you can address their pain points.
My course Back to Budgeting Basics is a good example of this. In this course, I teach my students how to ditch the overwhelm of managing their finances, and they learn how to create a budget, manage multiple bank accounts and stick to a money routine. I created this course because I knew that budgeting is the foundation of reaching our financial goals. I have an on-demand resource available for anyone in my audience who wants to learn the basics.
If you’re thinking about creating a course, I recommend listening to Amy Porterfield Podcast and The Course Consultant Podcast by Melody Johnson. Also, here’s a list of podcasts I recommend for content creators.
Tutoring is a popular alternative to creating a course. As an online tutor, you can help students with topics you excel at, like math, science, or even teach English, Spanish, or Mandarin. The opportunities are endless!
3. Hosting Workshops
Workshops are one of my favorite ways to teach a specific topic. Since workshops or masterclasses are much shorter than courses, you can focus on getting your attendees one specific result. Host an in-person or virtual workshop that lasts anywhere from an hour to a full day. Also, the good news is that the completion rates are higher for workshops – most people who show up are engaged, ready to learn, and participate. Plus, they get to ask questions, and if recorded, you can give them access to the replays.
During my 1-hour Goal Setting Workshop, I shared my framework for setting financial goals in five easy steps. I wanted attendees to feel confident about setting their financial goals for the new year with this workshop. I also shared additional resources to keep them on track. I plan to promote this offer again right before the new year when everyone has goal-setting on their minds. This one-time workshop can now become a passive income source. Hosting a paid workshop is a great way to share your expertise while earning income.
4. Freelance Writing
Since starting this blog, freelance writing has been my most consistent income stream outside of my nine to five. If you’re considering getting started as a freelance writer, I recommend showcasing your work on either your website (or blog) or writing for other publications. Demonstrating your skills and range as a writer will be instrumental in landing paid clients.
Helpful Tip: One simple way to find clients is to find where other content creators in your niche are writing and pitch those editors. Most content creators will have either a portfolio page or a press page (here’s mine) featuring all their work, so start there. ProBlogger also has a reputable job board that may be helpful as well.
Remember, you can freelance for just about anything these days, including video editing, graphic design, social media management, branding, and more. There’s a gig out there for any skill set.
For more helpful tips on getting started freelance writing, listen to this episode with Terri Huggins Hart, a professional freelance writer.
5. Having Roommates
Last but not least, sharing your space and having roommates can be lucrative. While this may not be for everyone, since I had three spare bedrooms, I decided to rent two of them for a few months while I settled into my new life as a homeowner.
Here are some helpful tips for finding and living with roommates:
- Run a background check on all candidates.
- When signing the lease, require at least one month’s deposit for incidentals.
- Communicate expectations and rules early.
- Keep the lines of communication open.
- Do not try to avoid conflict. Respectfully, face it head-on.
I hope this blog post gave you extra income ideas to monetize your skills and generate cash from home. I’ll continue to update this list as I find more creative ways to make money. Don’t forget to check out the Launch Your Side Hustle course, where Daniella Flores shares how she’s generated over $80,000 in her side hustle business and how you can too!
Update January 2022: All of these extra income streams helped me quit my job. I’m now enjoying life as a creative entrepreneur!
Danielle Desir Corbett paid off $63,000 of student loan debt in 4 years, bought a house at 27, and has traveled to 27 countries, including her favorites, Iceland, China, and Bermuda. Go here to learn Danielle’s incredible story, from struggling financially and in debt to finding creative ways to earn more and live on her terms. Listen to The Thought Card Podcast, where Danielle shares how you can creatively travel more and build wealth regardless of your current financial situation. Reach out to Danielle by contacting: thethoughtcard (at) gmail (dot) com.