When you're between jobs, finding ways to generate income can be one of the best ways to ensure your financial stability.
Luckily, there are ways you can supplement your income before you find your next dream job. This can be from utilizing your home for short-term rentals to exploring freelance work and other gig opportunities.
Here are some of the ways you can manage your monetary stress while continuing on the LinkedIn ‘fast apply’ grind.
1. Renting Out Your Space on Airbnb
One of the most popular ways to earn money from your home is to offer it as a short-term rental on platforms like Airbnb.
Walking this path allows you to rent out an entire home, a spare room, or even just a couch, depending on your space. The flexibility of short-term rentals means you can make the most out of your property during times when you don’t need it, like times when you are away on holidays or visiting friends.
Another great thing about renting on Airbnb is that you can maximize your ROI simply by rearranging the furniture to make it more appealing to renters.
2. Freelancing and Gig Work
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If you have marketable skills in a desirable area like copywriting, freelancing can be an excellent way to earn money while between jobs. Websites like Fiverr and Freelancer are great ways to connect with potential clients looking for services ranging from graphic design and writing to programming and marketing.
Or, if you don’t think you have skills that you can freelance, gig economy jobs like driving for Uber or delivering food with DoorDash can also provide flexible income opportunities.
3. Online Tutoring and Teaching
If you have expertise in a particular subject or skill, offering online tutoring or teaching might be an option for you. Platforms like Tutor.com allow you to connect with potential students who are looking for a teacher with your skillset.
This is a great option is you are academically skilled in a particular area, if you speak another language, or if you’re generally passionate about something you want to share with the world. Better yet, this is a great option if you are currently a University student, and want to make some money on the side tutoring your peers.
4. Selling Handmade Goods or Crafts
If you are crafty or enjoy making things by hand, like crocheting or knitting, selling your creations can be a rewarding way to earn income. A great place to start is by selling goods on Etsy, which is a great way to connect with buyers who are looking for goods made with love.
Whether you make jewelry, bind books, or handmake candles, you can turn your hobby into a business and earn money doing something you love.
5. Participating in Market Research
Companies are often willing to pay for consumer opinions and feedback on their products and services. Signing up for market research studies, focus groups, or online surveys through platforms like Survey Junkie can provide a steady stream of small earnings.
Usually the money generated from market research won’t be too extensive, but it is a great way you can supplement your other income efforts.
6. Renting Out Your Car or Equipment
If you have a car you’re not using, consider renting it out through platforms like Turo. Similarly, if you have equipment such as cameras, tools, or sports gear, consider renting these items to others.
This can be a convenient way to generate passive income from your own assets without needing to purchase new goods to rent out.
7. Pet Sitting and Dog Walking
If you love animals, pet sitting and dog walking can be enjoyable and lucrative (particularly if you’re living in an expensive area). Services like Rover and Wag connect pet owners with caregivers.
Offering pet sitting in your home or providing daily walks for dogs can be a flexible way to earn money, especially if you’re spending more time at home and are looking for ways to get out of the house without impeding your time to hustle.
Making the Most of Your Time
Even though it can be tough when you are between jobs, there are ways you can maximize your income by getting creative and looking for various opportunities.
Whether it’s leveraging your home, skills, or hobbies, there are numerous ways to generate additional income and stay financially stable during transitional periods.