If you want to start a side hustle and work from home, there are several ways to do it. You can start a food delivery business, rent out your car, teach driving lessons, or drive aggregator cabs. Investing in stocks is also a viable option. However, it can be tricky to get started.
Renting out gadgets
Renting out gadgets is a good option if you can’t afford to buy them outright. It’s flexible, has low up-front costs, and allows you to rent them for only the time they’re needed. Plus, if you don’t use them, they can easily be returned. You can even earn a little extra money while you’re at it.
Many smart devices can be used to make rental properties more comfortable and efficient. For example, smart doorbells can double as security cameras, and smart locks can reduce the need for keys. Also, smart lighting and vents can save energy. These are all excellent ways to boost bookings.
Tutoring
Tutoring is a great way to make extra cash from home. Students often have simple tasks that they need help with, and you can help them by providing them with an online resource. You don’t need a lot of experience to get started, but if you’re able to specialize in a particular subject, you can charge a higher rate. However, it’s important to be aware of the skills needed to become a successful tutor.
There are various websites that can help you get started. For example, Chegg allows you to create online homework material and respond to questions from students. The website also provides digital and physical textbook rental services. Tutors who sign up with Chegg can expect to earn an average of $20 per hour. Depending on your skill level, you could easily end up tutoring several students during one hour. To become a tutor on Chegg, you’ll need a college or university transcript and a government-issued ID. You will also need to pass a test to ensure that you’re a qualified tutor.
You can use social media platforms like Facebook groups to promote your tutoring services. Many Facebook groups have pages dedicated to learning different subjects. You should spend some time posting useful information and helpful comments on the pages. This will help build your list of clients. Remember, word of mouth is one of the best ways to grow your tutoring business. Parents will be more likely to recommend you if they’ve heard a good thing about your services.
Another platform that helps you advertise your services is Wyzant. This platform allows you to advertise your service on the website and set your own hourly rate. It also gives you access to a list of prospective clients. However, Wyzant charges a commission of 25% from the students you teach, so you may find it difficult to get enough work for your skills.
Another great way to earn extra cash from home is through online tutoring. Some sites like Studypool offer a platform where students post their questions and tutors bid to answer them. These sites pay about 20% of your earnings and provide you with a flexible schedule.
Investing in stocks
Investing in stocks is one of the best ways to increase your wealth. The stock market has an excellent track record of growing wealth. The top 10% of American households own 89% of the stocks in the country. In the next five years, these stocks are expected to increase 43 percent in value. If you want to invest in stocks, you should start with small amounts and invest for a long time. There are many investing apps and robo-advisor services that can help beginners develop their portfolios.
Stocks fluctuate in price and can move up or down considerably in a short period of time. Investing in diversified funds can help you stay afloat during periods of uncertainty, such as economic stress. While you’ll have to invest some time and money up front, you can earn a healthy income through the stock market.
It’s important to remember that investing involves a high risk of loss. The main purpose of investing in stocks is to earn a higher return over a long period of time. However, this comes with the risk of losing the entire amount of your investment. Stocks can fluctuate more than other forms of investment, so be sure you understand the risks involved in investing in them. Also, remember that dividends are not guaranteed.
If you have some spare space in your house, you can invest in stocks on your own. You can invest in fractional or whole shares, depending on your personal preference. You can even set up an auto-deposit at your brokerage account to invest your money every month. You can also invest in exchange-traded funds, which allow you to diversify your investments. Another advantage of exchange-traded funds is that they are lower cost than mutual funds.
The internet has made it easy for consumers to begin investing. You can start by investing a few dollars to learn more about investing and put little money at risk. This is an excellent way to get started, and you can learn as you go. You will only put a small portion of your savings at risk, and you can also avoid the trade commissions that are typically associated with investing.
