Skip to main content
Scripbox Logo

Five practical ways to earn beyond your salary in 2020

Whatever you are taking up, ensure it is something you deeply care about and you are good at.

Who doesn’t want extra money in their pocket? However, if you want it to supplement your regular income, you need to plan.

First of all, evaluate your skill sets. Perhaps you are a talented bass guitarist or adept at yoga techniques. May be you care deeply about animals and like spending time with pets. Figure out where your expertise lies. Guitar players, for instance, could strum at weekend gigs and yoga experts can become yoga teachers at wellness centres.

Whatever you are taking up, ensure it is something you deeply care about and you are good at.  Moreover, it should also fit into the overall scheme of things, so that you get to balance it with the regular work, while also leaving some leisure time for yourself.

Here are some ideas to help you get started.

1. Play the Host

If you like playing the host, and are living in a bigger house, give a bedroom on rent. Global websites like Airbnb or Homestay charge about 3%-5% as host service fee for booking done through their websites. By doing this, you get to meet travellers from different cultures and continents across the world. 

You can also host an experience by organising a food tour on a bicycle or lead nature walks. As a culinary expert, you can give guests an exclusive dining experience. Try curating unique activities that people wouldn’t find elsewhere. 

By 2020, 175 million Indians will be shopping over the internet, according to Nasscom. It will open up a lot of opportunities for affiliate marketing. Affiliate marketing is the process of earning money every time you generate a sale of a product or service by promoting it.  

2. Explore affiliate marketing

By 2020, 175 million Indians will be shopping over the internet, according to Nasscom. It will open up a lot of opportunities for affiliate marketing. Affiliate marketing is the process of earning money every time you generate a sale of a product or service by promoting it.  

It is one of the easier ways to earn passive income without making capital investments. You can either individually register with e-commerce websites for the affiliation or sign up with affiliate networks. 

Choose an area where your expertise lies. May be you are a good horse whisperer or have deep knowledge in indoor gardening. Start your own blog or website where you regularly write on these subjects as an authority. Once you build the trust and a community of followers, you can start recommending products to them.

You get paid for the lead or the sale generated based on affiliate programs. 

3. Teach

You can also make and upload online courses at websites like Udemy or Coursera and earn money every time a student purchases it.  These education platforms provide a global audience for your classes.

You can also teach in colleges and tutorials, if you are skilled in a particular academic field. Or become a private tutor by teaching from the comfort of your home. 

4. Freelance

Freelancing pays depending on what you are actually good at and what there is a demand for. Are you an expert in German or Chinese? You can perhaps translate documents and contracts in English for Indian companies over the weekends. If you have a flair for design, become a graphic designer. 

5. Sell your wares

If you have the knack of making designer ceramic bowls or delectable plum cakes, sell it from your home. However, before taking the plunge, do some market research to ensure your product has good demand in the market. 

You can promote your product online or through word-of-mouth. If you are selling on e-commerce websites like Amazon or Flipkart, do the math before pricing the product or service. Ensure you cover all types of costs, including those incurred for product returns. Use discount coupons, time-bound deals and internet advertisements for online promotions.

Takeaway

You will, of course, need to find the time to do all this to earn more. While choosing an activity as a side hustle, ensure you have special skills in it. Let that be your passion and it will eventually pay off. 

Achieve all your financial goals with Scripbox. Start Now