One of the best ways to ensure you have money when you need it, is to take on some extra work.
The most popular form of extra work is getting a second job. A second job could be great to supplement your income from your full-time job, and may involve you doing some part time hours through the week, or on weekends.
The biggest benefits to a second job are that you are increasing your skill set much faster, as well as helping to grow your bank account.
One thing to watch out for with a second job is your tax. If you take on extra employment, you are generally taxed at a much higher tax bracket on your second job.
Here’s some other great ways to make extra money on the side:
- Sell any unwanted items: Clean out your home and hold a garage sale, or list your items on eBay or Gumtree;
- Rent your house: If you’re out of your home a lot, list your house for holiday rentals on AirBNB;
- Freelance: Join sites like oDesk, Freelancer or Elance and get paid to help people with tasks they need doing;
- Do odd jobs for people: Use your trade skill (eg carpenter, electrician, plumber) or help people around their home for cash (eg mow lawns, clean, wash cars);
- Rent out your car or your parking space;
- Rent out storage space in your garage;
- Fill out online surveys;
- Become a babysitter, or pet-sitter/dog walker;
- Tutor people and teach them your skills.
The options are endless, there’s plenty of ways to make money on the side.