Are you looking for ways to make extra bucks or propel your career?
Last year was quite a challenge due to the COVID-19 pandemic. The global health crisis has caused an enormous human toll and led to the deepest global recession since the Second World War.
The U.S. Bureau of Labor Statistics conducted an analysis comparing the number of people in paid employment between February and November 2020. They indicated that 9.8 million people had lost their jobs by the end of November 2020. The analysis also showed that the unemployment rate rose to 14.7%, the highest in American data history.
We are not back to normalcy yet, and may not be any time soon. With the slow vaccination and new COVID-19 variants being reported, the economy may continue to shrink, causing more job losses. That is why it is essential to have a side hustle or passive income ideas.
The best way is to learn a new skill that others do not know how to do or don’t want to do. The right skill can earn you a respectable amount of cash, break into an industry or make your resume attractive to employers.
Thanks to the internet conveniences, you can quickly learn a new skill and start making money from the comfort of your home.
Here are the top 8 skills that can help you make money or make yourself more attractive to employers:
- Graphic design
- Digital marketing
- Programming
- Photography
- Freelance writing
- A second language
- YouTube
- Forex and bitcoin trading
Graphic design
Graphic design is one of the vital in-demand services for businesses. If you are a creative artist who can convey your ideas through text, color, and shapes, businesses will pay handsomely for your skills.
There are different types of graphic designs, including:
- Website and app design – also referred to as user interface (U.I.) and user experience (UX) design of visual layout for websites or apps.
- Brand design – promoting business identity by creating logos, business cards, and promotional merchandise and materials.
- Art and illustrations – digital drawings on gift cards, book covers, tattoos, and interior illustrations.
You will need to acquire software skills such as Adobe Illustrator, Photoshop, InDesign, and CorelDraw through graphic design programs that you can finish in less than one year. You can also get a certification program through each software vendor to demonstrate your competence.
You can make an average of $30,810 per annum if you work part-time and over $90,000 annually if you spend most of your time as a graphic designer.
Graphic design encourages creativity, and the demand for graphic designers is steadily growing. On the other hand, it has a lot of multitasking and tight deadlines, and you have to deal with overly demanding clients, which makes it hard to manage it as a side hustle. You also work long hours in front of your computer, which can be tedious.
Digital marketing
Businesses are aware that social media is a great place to promote their products and services due to its large audience. Therefore, they hire a digital marketer to increase brand engagement at social media sites such as Twitter, Facebook, Instagram, LinkedIn, Pinterest, and Reddit.
Digital marketing is a broad term covering social media marketing, content marketing, email marketing, eCommerce, Facebook Ads, Google Ads, SEO, and many more.
However, you need to concentrate on carrying out research and understanding business domains fully. This makes it hard to dedicate time for digital marketing as well as have a 9-5 job.
You do not need technical expertise to be a digital marketer as long as you can easily interact with the audience. You should also know about search engine optimization and how to use various market analysis tools.
You can make between $60,000 and $70,000 per year as a digital marketer.
One advantage of digital marketing is the numerous money-making opportunities it offers. Every business, irrespective of size, has digital marketing as part of its marketing system; hence there is a huge demand for competent digital marketers.
Programming
Programmers are responsible for developing computer programs and operating systems. They are the problem-solvers who provide logical solutions to I.T. users.
Programmers are mostly software and web developers, data analysts, full-stack developers, and front-end developers.
The internet has several programming lessons and resources for you to learn. You can take free courses at Udemy and master programming languages such as:
- HTML & CSS
- PHP
- XML
- Javascript
- Python
- C++
- SQL
Entry-level programmers can make an average of $80,000 per year, while an experienced one can earn over $110,000 per year.
Programmers are in high demand and enjoy a relatively high wage rate. However, they spend most of their time in front of their computer screens, which can be tedious and not easy to do with a daytime job.
Photography
If you own a camera and know how to use it, you can turn your photography into a money-making venture.
Photographers can be hired to cover events and gigs such as weddings and corporate or private events. You can also sell photographs on websites such as Shutterstock or grow your Instagram following and monetize it.
You only need the natural aptitude to find the perfect shot and complementary skills in Photoshop or any other photo editing software.
A learner photographer can make $34,070 per year, while an experienced photographer can make over $76,220 per year.
Photography is a hobby that can bring joy, beauty as well as getting paid. The downside is good cameras, and photography gears are quite expensive.
Freelance writing
Do you know how to conduct online research and craft reader-focused words that engage and persuade people to read more or take action? Freelance writing might be right for you.
Besides being a hobby, freelance writing offers practical value. You can concentrate on one topic of your passion and establish yourself as an expert in it.
There are several freelancing platforms you can rent out your skills, such as Fiverr or Upwork, where several companies run to look for experts to provide content for their websites or blogs. However, with your expertise and quality content, you can create your blog and make more money.
Luckily, freelance writing is not limited to one or two subjects; you can write in different fields you know. You only need to know how to research and write quality and original content.
You can make at least $75,000 per year as a hired freelance writer. You can, however, open your blog and earn as high as $400,000 per year.
You can easily do your freelance writing between your 9-5 job because you always carry your work with you. Selling your freelance writing skills is the easiest and the fastest way to make money, as you can earn even with your first work.
On the other hand, freelance writing has no security for payment, mainly if you write for someone else. They may decide not to pay after receiving your work. The pay is also minimal as compared to having your blog.
A second language
Learning some popular languages such as Spanish, Chinese, French, German, Portuguese, or Russian opens up many opportunities.
First, you can offer translation services to government entities, the education sector, technological industries, or individual clients. Global connectivity requires ways to break language barriers, making translators be on high demand.
Second, you can become an online tutor of a foreign language. For instance, you can teach English to Chinese or Russian kids. Websites such as Udemy enables you to become a tutor or an instructor and provides you with tools and skills to teach students globally; register here.
There are several online classes and language learning apps that you can enroll in or download. You may need to pay for the online classes or subscribe monthly to the language learning apps.
You can make more than $70,000 per year as a translator and between $50 and $200 per hour as a tutor.
Learning a second language improves your connections with clients of different nationalities. However, languages have a strong cultural identity; learning a second language may lead to ignorance of your first language, hence lose your cultural identity. It may also take a while to learn a language before you start making money.
YouTube
If you think you have a witty sense of humor or teach a hands-on skill, you can make a substantial amount with YouTube. You will, however, need the patience to get enough views to make you money.
Anyone can easily upload a video to YouTube, but only the entertaining and informative videos will attract a following.
Whether you are sharing “how-to” videos or your opinion on current affairs, you need to deliver engaging videos that will keep your audience interested for long enough.
You will need professional video equipment or hire a professional to take your videos. Ensure original, engaging videos that will encourage people to view and share your videos with others.
Earnings depend on several factors: the number of views, affiliate links, merchandise, and sponsorship. A 7-year old boy named Ryan became the highest-paid YouTuber in 2018, earning $22 million from his Ryan ToysReview channel!
Starting a YouTube channel is totally free; you only need to invest in quality videos and post unlimited videos. However, you will have no control over your uploaded videos and no guarantee that anyone will view the video.
Forex and bitcoin trading
Are you good with numbers, reading and analyzing the foreign currency exchange market, and correctly speculating price movements? Then start placing foreign exchange orders.
Foreign exchange or forex is the global over-the-counter (OTC) market where investors and institutions like banks speculate on and buy and sell currencies.
Bitcoin is the most popular and highly volatile cryptocurrency. Trading bitcoin works the same way as forex. The only difference is that while forex is built on countries’ economic decisions and currency conditions, bitcoins are mined, and their value depends on the fundamentals of cryptocurrencies.
Before starting forex or bitcoin trading, learn the major currency pairs, market movers, trading methods, and risk management strategies.
People refer to forex and bitcoin trading as get-rich-quick schemes. This might not be true, and you need to trade carefully and aim for small gains to avoid risking your investment. You can aim for $4,000 to $7,000 per month as a beginner and aim higher as you gain some experience.
The advantages of trading forex and bitcoin are the ease of entry or exit and generating significant returns within a short period. However, the volatility associated with both can lead to substantial losses if you make incorrect predictions.
Recap
Do not be stagnant and dream of making more money. Take a step to learn a new skill and turn it into a side hustle that can generate passive income.
At first, you may experience difficulties trying out your skills and may not make any money. But the more you invest in your continuous development, the more your skills make money, and the more you live a happier, healthier, and financially stable life.