There are hundreds of ways to make more money, but most are either piddly amounts or simply not achievable. Below are the actual ways I make money as an 18-year-old, though these apply to almost any age.
Having a well-paying job:
Now, wait, this may sound simple, dumb or too hard but it is (at least for now) the best way to start making more money.
Sure you can do extra work or go for a promotion but a high base pay sets you up well and this way you still have time for the other things I am about to get to. Finding a higher paying job can be as simple as jumping online and applying for over 50 well-paying jobs, most of which you aren’t even qualified for. This is what I did at 18 years of age and 6 months later I am was making over $2000 a week just from work.
Having investments:
While I am a fan of the ‘fast lane’ i.e. starting a business and becoming wildly successful ASAP, I do think concepts from the slow lane can definitely be used here. This goes for investing; I personally have managed to invest a large portion of my income for 12 months now. A significant portion is in fact in P2P lending platforms (more here: https://www.nicholasgmuscat.com.au/home/p2p-lending-platforms-compared-australia), which is arguably hugely irresponsible, but I ask you consider I may infact know what I am doing. Other investments are in stocks and high-interest savings accounts. Due to the nature of compounding and simply not having a large starting balance, your income from this can start small. For me $15 a week, however, this now is about $30 and I expect it will continue to grow exponentially over time.
Participating in Market Research:
This is actually one of my biggest income sources after work. By doing 1-2 survey/study per week, which normally only takes up 3 or so hours of my time. I am able to make an average of an extra $200 a week. My favourite way to find these is to simply jump on Facebook and let them come to me via targeted ads. I find 3-5 a day that suits me just by scrolling through Facebook. It is a pretty good gig if you aren’t too concerned about the organisation breaking their privacy policy and selling your information to Russian hackers…
Creating things:
This one is general but hugely important. This is where the entrepreneur within you can come out; this is writing EBooks and blogs, making YouTube videos, creating instrumentals or remixes of popular music, creating a Shopify store, Instagram influencing etc. These are just things I have done but I am certain there are 100s more that have not even occurred to me. Find a problem and solve it. Your solution is your product, all you have to do now is market it. This point also obviously extends to starting businesses. Now while I have started over 6 as of current, I can’t say I have reached a point where I am making a consistent income like I can with the previous points. However, if you are looking to move away from making within the ‘average’ ranges of a few thousand a week. You have to really consider starting your own business because statistics show your chances are much higher this way.
Teach/tutor:
This one is simple, but I have been making an extra few hundred a week by tutoring in areas I am skilled at for years and it has always been a good and easy source of income for me. If you can play in an instrument, dance, or are just particularly good at anything, you can probably get paid to teach someone to do it.
Between everything, I am able to make between 2300-2700 a week not hustling hard. What are you doing in order to make more money?
If you have any questions or would like more articles like this feel free to comment below!
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Summary:
-At least for a while, having a well-paying job will be your biggest and easiest source of income
-Investing your savings and other money is a great way to make a second source of income
-Market Research may act as another source of income
-Creating things yourself can reap large rewards in terms of ROI
-If you have a skill and someone wants to learn said skill you can make money from it