Do you know what makes me want to do the Cha-Cha Dance like this cute little kitten?
Alternative streams of income!
THE STRUGGLE IS REAL PEOPLE
I’ve struggled with the idea of a 9-5 job for a large part of my adult life. I’ve tried it before, but I just don’t think it’s for me. When you don’t have a steady income, it’s important to work as much as possible so you can financially support yourself. Since returning from my 6-month journey to South America and Southeast Asia, I have been predominantly working part-time at a restaurant so I can direct my energy on other passions (like this blog).
With this choice, I had to figure out alternative ways to supplement my income as the restaurant gig was only bringing in $2000-$2500 each month. I’m going to share some of those alternative streams of income with you in case you’re looking to make a couple extra bucks to help with bills, savings, or anything else you’re interested in purchasing.
Maybe It’s Time For A Cleanse:
Have you ever taken a step back and thought about how much stuff you have but never use? When I got back from my trip, I went through everything I owned and put a ton of stuff up on Craigslist, LetGo, Kijiji, Bunz, Facebook Marketplace, and took part in a sidewalk sale that my street was hosting. I sold clothes, kitchen supplies, electronics, sports memorabilia, candles, toiletries, and jewellery. Not only did it feel amazing to get rid of everything, I also made $500 in 2 months. One person’s trash really is another person’s treasure!
I’ve been working on-and-off in the live events industry ever since graduating from George Brown College with a Sports and Events Marketing certificate. The events industry is small, and I now have an awesome network of connections that can often find me weekend work or smaller contracts. Although the hours are usually long, the money is quite good and the people you work with are great. And there are always events going on in every city. My advice? Reach out to the organizers to see if they need any help with ticketing or backstage work. It’s a great way to make some extra coin, and you’ll get to work in a new field that’s fun and exciting.
I know someone whose 18-year-old cousin went to Thailand last year and bought a ton of fidget spinners for 10 cents each. He then created a Shopify account, sold those fidget spinners for $4.00 each, and is now sipping Pina Coladas on the shores of Tahiti. Ok, the last part isn’t true, but still! He found a product that he believed in, bought in bulk, and created a small side business that made him some serious extra cash. I wasn’t that thrifty, but I did make an extra $600 this year selling new electronics that I bought in bulk.
Create a Side Business:
Have you always dreamt of owning your own business? I had. So this past year, I grabbed the bull by the horns and became an Arbonne consultant to supplement my income and do something different. It’s nice to make an extra $100-$300/month working 8-10 hours on your own time when you’re passionate about a product. On top of that, I started doing social media for Minicards Toronto. This extra money can be put into my savings and invested. Which brings me to my last point…
If you’ve read any of my other articles, I am constantly talking about investing. It’s one of the most valuable tools that I’ve taken the time to learn about and has also been the most lucrative. Creating a passive income that you don’t have to work too hard for is so rewarding. For those of you who are new to the investing world and don’t know where to start, Wealthsimple is a really great platform. They will set you up with a plan that works for you depending on your goals, and will teach you the basic principles of investing along the way. If you use this link, Wealthsimple will waive the management fee for the first year, which could save you $100’s-$1000’s (depending on how much you’re contributing).
With all of my side businesses, freelance work, investments, and restaurant income, I’m currently sitting at just over $45,000 in after-tax income as of October 2017. One of the best parts of it is that I get to make my own hours (for the most part). You just have to be smart with your money and think of some alternatives outside of your typical 9-5 job. If you want to learn more or just reach out to say hey, contact me!