What are the best methods to make a secondary income?

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The modern world is an expensive and confusing place and with the uncertainty of the last 2 years still unfurling, there’s never been a better time to sort out a secondary income. Sometimes, one pay cheque is just not enough and if you find yourself with a surfeit of free time on your hands, you might be able to spend that free time making a little extra cash. Because more money means more independence and more freedom.

Here, we’ll be running through a few of the easiest second jobs (or side hustles) that anyone can get started in as long as they have the time, the technology and the inclination.

Investing

Long-term investments might not make you much money in the short term but over time, you could end up with a nice nest egg for your retirement or another major investment. The best thing about investing is that you don’t even need to know much about the stock markets to get involved. There are hundreds of online companies that will invest on your behalf and make all the difficult decisions for you. Indeed, there are AI algorithms that can do it for you these days.

Blogging

Starting a blog in a niche topic area can allow you to build up a network of connections and work on what you want when you want. Blogging is a very hit-or-miss side hustle for some but if you have a good grasp of social media and know how to create engaging content, you could earn a decent amount of advertisers.

Trading

Getting started in forex trading can provide you with a new profitable hobby that can be as exciting and entertaining as it is profitable. You’ll also learn a lot about finance and how global markets work while you’re at it. It’s not a side hustle to get involved in without doing your research though. Thankfully, many forex trading companies allow you to start a demo account and get a feel for the platform without investing any real money.

Freelancing

Freelancing is all about getting paid hourly for your skills. This could be in anything from writing to marketing to teaching, graphic design and anything in between.

Dropshipping

You’ve probably read articles online on how young entrepreneurs have made millions online throughout the pandemic and most of these success stories are based around the world of drop-shipping and started out as second jobs. This essentially involves buying products from suppliers for a wholesale price and then selling them directly to the customer online for a retail price. This allows you to create a retail empire without ever actually making contact with the merchandise itself. All you have to do is arrange the shipping and reap the profits.

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