How To Diversify Your Income

The start of the year has been very difficult for many of us. The spread of the ongoing pandemic has caused a huge change in our day to day lives, whilst the fortunate have been able to make the adjustment to work from home, others have had to seek out new opportunities for work. More than anything the past few months have shown more than ever just how important it is to diversify your income for situations like this. Where your normal work salary may just not be enough, and with the growing number of tools and services out there to help you do so, you can start earning a little more and bolstering your income – but what are the best ways to do this?

Third-party services – This covers sites such as Fiverr or Etsy, and the growing number of other services that have been popping up to allow hobbyists and professionals alike to take their skills into a digital space, in a freelance type of arrangement. Whilst Etsy is aimed more toward the crafty audience, it provides an opportunity for users to take something more hobbyist to a different market.Some have managed to do so successfully enough to start a business, with some of the largest Etsy stores evolving into fully fledged online stores.

Fiverr is a little different here in some ways, as whilst it does attract a hobbyist audience, it can definitely be very beneficial for professionals. Covering many different sectors of the creative industry from design, to coding, video editing, or instrument playing, you set a price for your services based on your skill level and produce the required content for a buyer. Reviews are very important here, and the higher your skill level the more you’re likely to get.Using this to supplement your day job in a chosen profession and receiving good reviews can effectively turn this platform into a second job for some.

Trading – This can cover a wide range of markets with increasing accessibility from the growing number of platforms on our smart phones, but it is also now more approachable than ever before. Popular forums and chat rooms such as the Wallstreetbets subreddit have become very popular throughout the lockdown months, as many seek out tips and look for the big success stories in trading.There are also a growing number of tools for those looking to learn during this period of time too,as a growing number of forex brokers are becoming available for example. Whilst this does require some investment unlike the third-party services if you have the tools, it requires much less work outside of the research needed to truly understand the markets, which you’ll be operating in. Fortunately, because of the growing uncertainty in recent months, large shifts have made previously inaccessible trades due to pricing much more accessible to a wider audience. Many who are also common traders also look to pick up offers to use across different sports betting markets. This includes the Dafabet coupon code, that has continued to prove popular across 2020.

A remote alternative – For many, one of the few options may be to pick up a second job. Fortunately in the current climate there are plenty of opportunities here for a shift to remote working. Whilst this may not be an ideal solution for many, and a similar solution to the first with third-party sites, this option does provide security to many. If you’re able to arrange your time and the work requirement to fit holding two positions, it can certainly help.With the flexibility to choose your hours and working times becoming more common, this can certainly be a very flexible future option. If you’re able to adjust your current position to allow for remote working too then it allows for a lot of movement in how you approach work in either position, and can certainly be enough to bolster your current income.

Moving forward there will certainly be a lot of change in the way we do work, but the increasing flexibility being offered both in online solutions and more typical solutions provides a growing number of opportunities. With fears that a second wave could be hitting, and it would likely hit hard. This means that this may be more important than ever heading toward the holiday season and moving forward into the new year with future disruptions in mind.