Money

Top 10 Easy Ways to Make An Extra Income

Whether you’re looking for extra income to launch your startup or make new investments with, or deal with crazy debt, a few hundred to a few thousand rands a month can change your life. Here’s how to get started.

1. Start a service business

Launching a service business can be done without a large network, an online presence or much overhead. The easiest way to start is by telling people in your existing network what you’re offering and asking them to spread the word.

2. Invest in real estate

Becoming a landlord isn’t always practical for those who are employed full-time and already strapped for cash. But you can look at buying a condo or small property in another country as a vacation getaway instead. The price tag is typically cheaper, even when you hire a local property management group to manage renters while you’re away.

3. Host an event

You can make money hosting events without aiming for thousands of sign-ups, vendors and high-profile guest speakers. Instead, form a free MeetUp group on a topic you’re knowledgeable about, like growth hacking, and run free events.

After you secure a loyal following, charge for an event with a reputable guest speaker. Rent out a small, upscale conference room at a nearby hotel, and grow your new MeetUp by hosting exclusive, sought-after events that charge a premium for fantastic content.

4. Get paid to do what you’re already doing

Take inventory of what you’re doing in your free time. People who love skydiving (like me!) can get certified to teach and do jumps on the weekend. You get to do what you love while earning extra money at the same time. Ask your local bar if you can help run its trivia night, or bartend a few nights a week while hanging out and getting to talk to interesting people.

5. Sell old items.

One of the quickest ways to make money fast is by selling your old books, CDs (yes, people still buy them) and DVDs as well as smartphones, smartphone chargers and gaming consoles.Some good places to sell your items are the usual suspects: Gumtree, Sell It, Shopify or BidorBuy.

6. Donate sperm or eggs.

To donate sperm or eggs, generally you have to be young — over the legal age of 18 and typically under the age of 35. Donating sperm to your local sperm bank or fertility clinic program can yield a man anywhere from R7000 per donation.

7. Babysit.

Babysitting is a job you can start doing immediately. There’s a high demand for babysitting and childcare services, whether it’s regularly picking up and dropping off children at school for two-parent working families or accompanying a family on a trip as a childcare provider.

You can offer your childcare services via word of mouth and leverage your social media and personal networks to market yourself.

8. Work as a handyman.

If you can do basic home repairs — installations, repairs, light painting and caulking —  you can square away some cash being a handyman. Whether your home repairs skillset is limited or sophisticated, just be upfront about what you can do well. Building a handyman business is reliant on good word of mouth.

To generate business, you can go the analog route and leave flyers and cards in the common areas of apartment complexes or hardware stores in your area. (And leverage your social media connections.)

9. Rent out a spare room

If you have a spare room or granny flat that you rarely make use of, you could earn extra money by renting it out to holiday-makers and business travellers. A popular way to go about this is to list it on the online hospitality website Airbnb, which has been around since 2008.

It’s free to list your home or room, however, Airbnb says: “We charge hosts a service fee (including taxes, if applicable) every time a booking is completed. The amount of the host service fee is generally 3%, but may range from between 3% to 5% depending on the cancellation policy selected by the host.”

10. Make Money Off Your Hobby

If you are a crafty kind of person – if you can knit, sew and crochet, for example – you could make things like clothes and blankets and sell them online through classified websites such as Gumtree. Social-media sites such as Facebook also have a number of groups where mums in particular can do business and advertise their services.

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