2020 was a year that brought many challenges, and many of these challenges were financially based. The COVID-19 pandemic saw millions of job losses around the world, causing debt to rise, people to lose their homes and financial anxiety to increase. Overall, it was a pretty overwhelming year for a multitude of reasons.
If you are struggling financially as 2021 kicks off, you might be considering getting a “side hustle”. This could be a second job in an establishment, but for most people, a side hustle is a project they start from scratch and build up over time. This is usually to supplement their full time or part time income from another job – hence the term “side hustle”!
Worrying about the kind of side hustle that could actually make you money? Here are three viable side hustles for 2021.
1. Learn to Trade Online
Trading is always seen as something unstable – and in some ways, it can be – but trading can also be a viable side hustle if you are willing to put in the work. If you start trading without any prior knowledge of how the stock market works, you are likely to lose money; if you put in the hours of online learning, using stock simulators and tutorials to help you, you can make a great income each month from training.
Before you begin trading, you should learn the key aspects, such as reading currency pairs, how to buy and sell, and how to follow trends in the market. Many people make thousands each month trading online – but make sure to remember: you should never invest any amount of money you aren’t able to lose.
2. Selling Unwanted Belongings
If trading isn’t for you, you could start an online business selling unwanted belongings. If you have sports equipment, high quality clothing, furniture or other items like jewellery, that you don’t use anymore, you can sell them online and make money very fast.
Particularly if you own belongings that are worth a significant amount, using online platforms like eBay, Depop or Gumtree to sell them is a good idea. This way, your payments and sellers’ rights are protected and you are less likely to be scammed.
3. Teach Your Skills
If you are a professional in your field but you aren’t working right now during the pandemic – or perhaps you are, and are looking to supplement this income – you should look into teaching your skills. These skills could be the job you do for a living – and this can be anything from a barista to an engineer – or other skills you have that don’t earn you money in your everyday life. These include:
- Why not teach any language you speak to others? You can do this online, and can make great money from it too.
- If you have played a sport to a high level in your youth or to this day, you can teach the basics!
The coronavirus pandemic has caused financial difficulties for many people around the world. Use this blog to start your side hustle today!