5 Ways to Earn Extra Income

5 Ways to Earn Extra Income

Man crafting a belt on a table

Whether you’re a stay-at-home parent wondering how to work from home or a worker bee just looking to boost your take-home pay, a side job may be a good option. Today’s gig economy has created myriad opportunities to turn a skill or a hobby into a moneymaking venture. (Remember, you must report income from a side job and pay all applicable taxes.)

Here are five ideas to consider.

Drive on out

If you have a car and some free time, you may be able to drive for one of the many ridesharing services. The work is flexible and requires no special training. Auto insurance is often provided by a ridesharing company for the times when you’re giving rides, but talk to your State Farm® agent about the benefits of adding a Rideshare Driver Coverage endorsement.

Pursue your passion

If you have a marketable hobby or talent — think photography, fitness, crafting, baking or music - brainstorm ways you might be able to profit from doing what you love. Spread the word to your friends and family and look for the best outlet to market your services. It may be as simple as a social media page or posters around town.

Home sweet home-share

Your home may be your castle, but it can also be someone else’s retreat for a few days if you have a spare room. Or rent out your entire home during a time you’re planning to be out of town. Many home rental companies provide insurance coverage, but as with ridesharing, check with your insurance agent.

Ditch it

Take it from Marie Kondo, the decluttering guru: If your stuff isn’t bringing you joy, get rid of it. As you purge, consider selling some items on easy-to-use apps or websites. Taking quality pictures, researching value and writing thorough descriptions can go a long way toward maximizing your return.

Leave it to the dogs

If you’re an animal lover, dog-walking or pet-sitting can be a flexible way to earn extra cash and can be done on top of other obligations. Look up fair rates in your area, determine whether you’re more comfortable pet-sitting in your home or the owner’s, and start lining up jobs with your friends or coworkers to get the word out.