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Saturday, February 24, 2024

College 101: 6 Things You Can Do to Make Supplemental Income

You have a lot of big dreams. Maybe you’re planning a wedding, starting a family, working towards no debt, or getting ready to open your own business. Whatever you’re planning, the truth is, you probably need money to make your dreams a reality. And while you make a good salary, it’s never a bad idea to try and put a little extra cash in the bank. This is where earning supplemental income can change your life. 

Supplemental income is any money you earn outside of your regular job. Think of these are your side hustles to get extra cash. There are plenty of ways to make supplemental income, you just have to decide what fits your lifestyle. Some side hustles can take more time and energy than others. But if you’re up to the challenge and dedicated to earning, you can explore so many opportunities to do so. Here are just a few examples of ways you can start making supplemental income today. 

Selling Wholesale Products

Have you ever wondered how stores like Target and Walmart acquire all the items they sell? The answer: through wholesale businesses. A wholesale manufacturer makes products and sells them to retailers in bulk at a discounted price. And you can be a part of this as a wholesaler. This gives you flexibility and takes away the hassle of marketing and the financial responsibility of selling directly to consumers. 

One area of commerce that is growing is the CBD market. CBD has been found to help alleviate feelings of anxiousness or unhappiness and can benefit you. With CBD wholesale products on the rise, you have the chance to get in on the ground floor. Simply qualify with a specialist, receive your portal, and order whatever inventory you need to resell the product. This is just one example of how you can sell wholesale products to create supplementary income. 

Investment Opportunities 

Some people dream of making money with minimal effort. Look no further than investment opportunities. You can invest your money in the stock market and watch it grow. Put your money in mutual funds and let professionals like Passiv set up a target portfolio for you. By automating your portfolio, you get to sit back and relax while you get notified of more cash in your account. So, if you’ve ever dreamed about being a Canadian Couch Potato and getting paid to through a diversified, low-maintenance portfolio, start investing today. 

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Share Your Skills

If you’re already working a full-time job, you have skills and specialties that others value. Consider sharing those skills for extra income. If you work in tech, teach a coding or data entry class one night a week. As a math teacher, you can also offer tutoring sessions on weekends. Or finance gurus can get paid to do file taxes during that season. Be creative and see how else you can make money with your expertise.

Real Estate Rentals

Passive income is when you make money through avenues that take little effort to maintain. Investment is one form of passive income, real estate can be another. Particularly with rental properties, you can earn money just by owning a building and renting your space. While there are some maintenance and upkeep, plus the initial cost of purchasing the property, once you’re up and running, you get to earn income while putting in minimal effort. 

Be A Driver 

Unless you live under a rock, you’re familiar with driving services like Uber and Lyft. If you’re looking to make supplemental income on your own schedule, consider signing up to be a driver with these kinds of services. The flexibility allows you to make cash on your terms while not interfering with your main source of income. 

Monetize Your Hobbies

One way to earn money is to monetize what you already enjoy doing. Are you crafty? Consider opening an online shop to sell your designs. Do you already hang out at the bar every night? Maybe see if you could get a part-time job serving drinks. Explore ways to earn extra cash doing the things you already love.

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