ontheedgeofeverything

In today’s economy, I feel as though more people than not are searching for new and innovative ways to earn a few extra bucks. The cost of living here in Canada, at least, continues to escalate, and without an increase in pay in a personal sense, financial situations can get a wee bit hairy.

Struggling to keep bills at pay is struggle enough, but trying to determine how to go about making some extra money can be a stressful concept to tackle simultaneously. It is quite possible that some days we find ourselves fighting desperately just to stay afloat, so the notion of adding even more onto our plates can seem rather daunting.

On the other hand, however, if we acknowledge we are at our limits in terms of how busy we are and our productivity levels, and choose not to take on additional work, it is daunting to consider future financials and how they may play out without an increased income.

I started English tutoring as a side gig to bring in some extra money for myself and my own family, not because I was bored by any means. I realize that tutoring is not something that appeals or applies to everyone, but I do think it is worth recognizing the benefits that can present themselves from the analogy of playing your strengths. I’ve always excelled with English and writing, and I have en education in the field, so why wouldn’t I try and find a way to use these skills to earn some extra cash flow?

It could be something as simple as enjoying gardening as a hobby; if you find yourself with some free time, why not see if you can find some local individuals who could use some extra assistance with their own yards and make a buck while doing something you already love?

Here are some more avenues to explore if you’re wanting to make some extra money.

“The need to earn a living so you can actually afford things like a roof over your head, food in your belly and maybe even have some fun into the bargain, is often one of the most stressful aspects of life we have to deal with. So, it is definitely in the interest of our collective mental health to look at some ways we can take at least some of the stress out of earning a living, right? Let’s do that below: 

“1. Passive Income: Set It and Forget It

“One of the most attractive ways to earn money without losing your mind is through passive income. Imagine setting up a source of income, whether it is selling educational materials or video courses on how to cook Italian-style, for example,  once and watching it pay off again and again, without you having to lift another finger. Sounds dreamy, right? Here’s a quick look at how you can make it your reality.

“What is Passive Income?

“Simply put, passive income is money you earn that doesn’t require active work to continue making it after the initial effort. For example, if you were to write a series of books now, you could continue to sell them forever, and that means you could genuinely make money while sleeping or hanging out on the beach. Passive income comes in many forms from creating digital products you can automate the selling of to investing in real estate you can rent out, so chances are you can find a version that works for you.

“Why Embrace Passive Income?

“Basically, you can liberate your time and do exactly what you want to do whenever you want to do it without having to worry about pesky things like your bank balance or how you are going to pay your bills, It is the ultimate in stress-free money-making.

“Getting Started

“To get started you need something to earn your money with. This means creating a digital product, writing a book, buying a property to rent…. You get the idea! For the creatively inclined, writing a book or creating an online course can yield ongoing sales that require very little maintenance after the initial launch.

“2. Freelancing: Flex Your Schedule

“If the 9-to-5 grind makes you groan, freelancing could be your ticket to a more flexible lifestyle. The beauty of being a freelancer is that you can choose exactly when, where and how you work picking up projects that excite you and saying no to those that you know would cause you too much stress. This gives you freedom from stress and boredom unlike most other paying gigs you can think of. Good, right?

“Why Freelancing?

“With freelancing, you say goodbye to micromanaging bosses and rigid schedules. You use the skills you have to make money in the way you want to. It’s that simple.

“Tips for Success

“To be successful in freelancing, you first need to develop those marketable skills of yours. Then you need to build up a profile and portfolio to sell yourself to potential clients. Remember, the key to freelancing is consistency and quality—deliver great results, and your clients will not only come back, but they’ll bring their friends.

“3. Automate and Delegate: Work Smarter, Not Harder

“Sometimes, the best way to reduce work stress is to simply do less work—personally, that is. Automating repetitive tasks and delegating can drastically reduce your workload and free up time for either more strategic activities or just some good old-fashioned R&R.

“Automation Tools

“Invest in technology that automates the mundane parts of your business. For instance, use accounting software to manage your finances or email automation tools to handle routine communications. These tools act like your invisible team, working in the background while you focus on growing your business or enjoying your life.

“The Power of Delegation

“If automation can’t handle everything, consider delegating tasks to virtual assistants. These professionals can manage everything from your schedule to customer inquiries, often at a fraction of the cost of a full-time employee.

“Earning a living doesn’t have to be a stress-inducing slog. By setting up passive income streams, embracing the flexibility of freelancing, and leveraging automation and delegation, you can transform your work life into something far more enjoyable and rewarding. 

“4. Turn Hobbies into Income Streams

“Who says work can’t be fun? When you love the thing you do to make money, then it does not seem like hard work at all, and you will rarely find yourself stressed at the end of the day, so it goes without saying that turning your hobby into an income stream is a smart way to get paid. Whether you’re a whizz with woodworking tools, a master of crochet, or a photography fanatic, your skills could potentially open up a new revenue avenue that’s enjoyable and profitable.

“Why Pursue Hobby-Based Income?

“Engaging in work that you love boosts your overall happiness and satisfaction. It doesn’t feel like work when you’re passionate about what you’re doing. Moreover, turning a hobby into a business means tapping into an existing community of enthusiasts who share your interests, which can be incredibly rewarding both personally and financially.

“Getting Started

“Begin by assessing the market demand for your hobby. Sites like Etsy and eBay are great for handmade goods, while platforms like Patreon are ideal for artists and creators to get paid by fans. Social media platforms can also serve as powerful tools to showcase your work and attract buyers.

“5. Educational Workshops and Coaching

“Your expertise in a particular field can be the key to your next income stream. Setting up workshops or coaching sessions can be an effective way to earn money while sharing your knowledge with others who are eager to learn.

“The Benefits of Educational Entrepreneurship

“Conducting workshops or coaching allows you to make good use of the skills and knowledge you already have to make money on your own terms. Whether these are one-time events, ongoing classes, or online webinars, you have the freedom to design a teaching schedule that fits your lifestyle. Plus, this approach can establish you as an authority in your field, leading to more opportunities.

“How to Launch

“Identify your niche and start small—offer a workshop in your community or create an online course on platforms like Teachable or Udemy. Utilize your professional network and social media to promote your offerings. Collect feedback and refine your approach as you go to better meet the needs of your audience.

“6. Remote Work: Embrace the Digital Nomad Lifestyle

“The rise of remote work has opened up a plethora of opportunities to earn a living without the need for a permanent office space. From tech support to digital marketing, companies worldwide are open to hiring remote workers who can contribute from anywhere.

“Why Go Remote?

“Working remotely not only reduces stress by eliminating commutes and allowing for a customizable workspace, but it also provides the chance to live a more flexible life. Imagine taking calls from a seaside cafe or completing projects from a cabin in the woods—the world truly can be your office.

“Tips for Finding Remote Work

“Start by updating your LinkedIn profile and resume to highlight skills that are conducive to remote work, such as self-motivation, organization, and communication. Regularly search job boards like We Work Remotely and Remote.co for opportunities that match your skillset.

“7. Subscription Services: Earn Recurring Revenue

“Subscription-based business models are all the rage, from curated boxes of gourmet snacks to personalized skincare products delivered monthly. This model provides consistent, predictable income while allowing businesses to build lasting relationships with their customers.

“Why Subscriptions Work

“Customers love the convenience and surprise element of subscriptions, while businesses appreciate the steady cash flow and customer retention benefits. It’s a win-win setup that keeps giving every month.

“Setting Up Your Subscription Service

“Identify a niche market with a specific need, such as fitness enthusiasts or pet owners. Determine what products or services you can offer on a recurring basis that would genuinely excite and benefit your customers. Use an eCommerce platform that supports subscriptions, like Shopify or Cratejoy, to manage your orders and shipments.

“By integrating these strategies into your work life, you can continue to reduce the stress of earning a living while potentially increasing your income. Remember, the goal isn’t just to work harder but smarter, leveraging your passions and the digital landscape to create a more balanced and fulfilling life.

“8. Mindful Money Management

“No matter how you choose to make your money, managing it wisely is crucial. Smart money management can significantly reduce financial stress and help ensure your income streams remain robust. This includes budgeting effectively, investing wisely, and preparing for taxes.

“The Essentials of Financial Health

“Start by setting up a detailed budget that tracks both your income and your expenses. Understand where every dollar goes and identify areas where you can cut back without sacrificing your quality of life. Invest in educating yourself about personal finance—knowledge here can pay dividends (literally). Apps like Mint or YNAB (You Need a Budget) can help you stay on track.

“Investment Strategies

“Consider diversifying your income through investments. If you’re earning passive income or have extra cash from freelancing, why not make that money work for you? Look into low-cost index funds, real estate, or other investments that align with your risk tolerance and financial goals. Always consult with a financial advisor to tailor your investment strategy to your personal circumstances.

“9. Health and Wellness Focus

“Of course, if you cannot do any of the above yet, for whatever reason, you can still make the daily grind less…well, grinding by simply taking better care of yourself and your needs. For example, regular exercise, adequate sleep, and proper nutrition can all enhance your productivity and make you more resilient to stress. Consider incorporating yoga, meditation, or other stress-relief activities into your daily routine.

“Building a Routine

“It’s a really good idea to see if you can create a daily schedule that sets you up for minimal stress. Ideally, this should mean shifting the work-life balance so that you have plenty of time for play, as well as the time required of you to complete your work. Try to fit in time for things like using the Headspace meditation app or hanging out with friends, as well as making sure you always take a lunch break to decompress, and you should start to feel better sooner, rather than later.

“Earning a living really doesn’t have to be a stress-inducing journey!”

Photo by Christin Hume on Unsplash